Market conditions drive strong June housing sales
The combination of low interest rates and more affordable pricing helped propel Greater Vancouver home sale numbers to the second all-time highest total for the month of June.
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is just short of the record-breaking 4,333 sales which occurred in June 2005.
Residential benchmark prices, as calculated by the MLSLink® Housing Price Index, declined 8.2 per cent to $518,855 in June 2009 compared to June 2008. The number of sales of detached properties increased 81.6 per cent to 1,667 from the 918 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 8.4
The benchmark price of an apartment property declined 8.2 per cent from June 2008 to $356,880.
The number of attached property sales in June 2009 increased 78.2 per cent to 802, compared withthe 450 sales in June 2008. The benchmark price of an attached unit declined 7.3 per cent between June 2009 and 2008 to $441,620.