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Selection broadens and demand eases to kick off 2012 in the Greater Vancouver housing market

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

December 2011.


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.


Click here to view the full REBGV stats package for January 2012

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.