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FOR IMMEDIATE RELEASE
Another big year for Greater
"Year after year,
"Although we're seeing lower sales than last year, it's important to note that the record-breaking sales pace of 2005 continued well into the first five months of 2006. Sales activity has been quieter since June, which is not a surprise considering we were breaking sales records on a monthly basis for well-over a year. We're still seeing rising prices, though this is now happening at a slower pace," Valouche says.
According to Multiple Listings Service® (MLS®) data for the period between January 1 and December 31, 2006, sales of apartment properties decreased 11.6 per cent to 15,088 sales, compared to 17,061 sales in 2005. Sales of attached properties decreased 7.3 per cent to 6,310 units sold, compared to 6,804 units in 2005. Sales of detached properties totaled 14,108 in 2006, a decrease of 15.3 per cent compared to 16,665 sales in 2005.
Overall housing sales for December 2006 decreased 27.7 per cent to 1,686 units in comparison to 2,332 in December 2005.
Sales of apartment properties decreased 28.3 per cent to 741 sales in December 2006 compared to 1,033 sales in December 2005. The benchmark price of an apartment property in Greater Vancouver, calculated by the MLSLink® Housing Price Index, is $329,906, up 17 per cent from one year ago.
Sales of attached properties decreased 28.8 per cent in December 2006 to 312 units sold, compared to 438 units in December 2004. The benchmark price of an attached unit is $410,234, up 16.6 per cent from December 2005. Sales of detached properties decreased 26.5 per cent from one year ago, at 633 in December 2006 compared to 861 sales in December 2005. The benchmark price of a detached home increased to $643,790, up 13.5 per cent from 2005.
"Whether buying or selling their homes, consumers who want to better understand the current housing market should contact their local REALTOR®," advises Valouche.
Bright spots in Greater
Coquitlam up 20% .....................(30 units sold, up from 25)
Coquitlam up 29.7% .................. (48 units sold, up from 37)
Port Moody/Belcarra up 100% ..... (12 units sold, up from 6)
The Real Estate industry is a key economic driver in
For more information please contact: Sean Horlor, External Communications Real Estate Board of Greater Vancouver Phone: (604) 730-3091 Fax: (604) 730-3102 E-mail: email@example.com