Monthly Market Report
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According to the Real Estate Board of Greater Vancouver's (REBGV) Housing Price Index, benchmark prices of attached, apartment and detached property types increased in February compared to one year ago.
Dick Coates, REBGV President, says that increased housing demand has affected prices. "We're seeing a neighbourhood by neighbourhood recovery that is resulting in a competition among buyers for what they view are the best areas to live."
MLS® sales figures for February show little change from 1999 statistics as overall sales for Greater Vancouver dipped 44 units or two percent last month.
February attached property sales recorded a four per cent increase as 270 units changed hands, compared with the 259 units sold in February 1999. The benchmark price of $221,910 for Greater Vancouver attached homes reveals a three per cent increase from the same period last year.
Apartment sales showed no significant change in units sold and maintained the same sales level as last year. Prices of apartments moved upwards in February; the benchmark price of $162,060 is three per cent higher than one year ago.
February detached homes sales were recorded at 852 units, a slip of 67 units or seven per cent compared with last year's figures. The benchmark price of a typical detached home in Greater Vancouver is $339,990, up nearly two per cent from one year ago.
Other bright spots in February 2000 compared with February 1999 include:
(37 units sold from 26)
(42 units sold from 36)
(42 units sold from 35)
(59 units sold from 44)
(24 units sold from 16)
(24 units sold from 12)
(42 units sold from 28)
(38 units sold from30)
(37 units sold from 24)
(198 units sold from 180)