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REBGV Stats Release for June 2011

New listings for detached, attached and apartment properties in
Greater Vancouver totalled 5,793 in June. This represents a 4.5 per
cent increase compared to June 2010 when 5,544 properties were listed
for sale on the MLS® and a 2.3 per cent decline compared to the 5,931
new listings reported in May 2011.

Last month’s new listing total was 9.8 per cent higher than the
10-year average for June, while residential sales were 7.3 per cent
below the ten-year average for sales in June.

“With sales below the 10-year average and home listings above
what’s typical for the month, activity in June brought closer
alignment between supply and demand in our marketplace,” Rosario
Setticasi, REBGV president said. “With a sales-to-active-listings
ratio of nearly 22 per cent, it looks like we’re in the upper end of
a balanced market.”

At 15,106, the total number of residential property listings on the
MLS® increased 3.1 per cent in June compared to last month and
declined 14 per cent from this time last year.

The MLSLink® Housing Price Index (HPI) benchmark price for all
residential properties in Greater Vancouver over the last 12 months
has increased 8.7 per cent to $630,921 in June 2011 from $580,237 in
June 2010.

“The largest price increases continue to be in the detached home
market on the westside of Vancouver and in West Vancouver,”
Setticasi said. “Since the end of May, the benchmark price of a
detached home rose more than $147,000 on the westside of Vancouver and
over $80,000 in West Vancouver. Detached home prices in Richmond,
however, levelled off slightly, declining $25,000 in June.”

Sales of detached properties on the MLS® in June 2011 reached 1,471,
an increase of 29.1 per cent from the 1,139 detached sales recorded in
June 2010, and an 11.8 per cent decrease from the 1,667 units sold in
June 2009. The benchmark price for detached properties increased 13.4
per cent from June 2010 to $901,680.

Sales of apartment properties reached 1,266 in June 2011, a 0.6 per
cent increase compared to the 1,258 sales in June 2010, and a decrease
of 29.3 per cent compared to the 1,790 sales in June 2009. The
benchmark price of an apartment property increased 3.5 per cent from
June 2010 to $405,200.

Attached property sales in June 2011 totalled 525, an 8.7 per cent
decrease compared to the 575 sales in June 2010, and a 34.5 per cent
decrease from the 802 attached properties sold in June 2009. The
benchmark price of an attached unit increased 6 per cent between June
2010 and 2011 to $522,424.


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