Balanced real estate market prevailed through much of 2011
VANCOUVER, B.C. – January 4, 2012 – The 2011 Greater Vancouver housing market began with heightened demand in
regional hot spots and concluded with greater balance between seller supply and buyer demand.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties
in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease
from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent below the ten-year average for annual
Multiple Listing Service® (MLS®) sales in the region.
The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 2.7 per cent in 2011 to
59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent
increase compared to the 52,869 residential properties listed in 2009. Last year’s listing total was 11.1 per cent above the tenyear
average for annual Multiple Listing Service® (MLS®) property listings in the region.
“It was a relatively balanced year for the real estate market in Greater Vancouver with listing totals slightly above historical
norms and sale numbers slightly below,” Rosario Setticasi, REBGV president said.