VANCOUVER, B.C. – February 6, 2012 – Greater Vancouver home sellers were more active
than buyers in January and overall home prices, according to the new MLS® Home Price Index
(MLS® HPI), continued to experience more stability and less fluctuation compared to the
beginning of 2011.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Greater Vancouver reached 1,577 on the Multiple Listing Service® (MLS®) in January 2012.
This represents a 4.9 per cent decrease compared to the 1,658 sales recorded in December 2011,
a decrease of 13.3 per cent compared to the 1,819 sales in January 2011 and an 18 per cent
decline from the 1,923 home sales in January 2010.
January sales in Greater Vancouver were the second lowest January total in the region since
2002, though only 146 sales below the 10-year average.
“We’re seeing trends emerge in our market that favour buyers, such as increased selection and
more stability in pricing compared to this time last year,” Rosario Setticasi, REBGV president
said. “Last month’s activity tells us that competition amongst home buyers was reduced in
January, which means that individuals looking to purchase a home had more time to do their
homework, consult with their REALTOR®, and make a decision.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,756
in January. This represents a 19.9 per cent increase compared to the 4,801 new listings reported
in January 2011, and a 253.3 per cent increase compared to the 1,629 new listings reported in
Last month’s new listing count was the highest January total in Greater Vancouver since 1995.
The total number of properties currently listed for sale on the Greater Vancouver MLS® is
12,544, a 12.5 per cent increase compared to December 2011 and an increase of 20.2 per cent
compared to January 2011.