{"id":59,"date":"2011-02-03T21:50:06","date_gmt":"2011-02-03T21:50:06","guid":{"rendered":"http:\/\/renerealestate.com\/blog\/?p=59"},"modified":"2011-02-10T19:52:06","modified_gmt":"2011-02-10T19:52:06","slug":"stability-and-regional-%e2%80%98hot-spots%e2%80%99-characterize-january-housing-market","status":"publish","type":"post","link":"https:\/\/renerealestate.com\/blog\/stability-and-regional-%e2%80%98hot-spots%e2%80%99-characterize-january-housing-market\/","title":{"rendered":"Stability and regional \u2018hot spots\u2019 characterize January housing market"},"content":{"rendered":"

Here is the January 2011\u00a0Real Estate Stats from the Vancouver Real Estate Board<\/strong><\/p>\n

Stability and regional \u2018hot spots\u2019 characterize January housing market<\/strong><\/p>\n

The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region\u2019s largest communities.<\/p>\n

The number of properties listed for sale and those sold on the Multiple Listing Service\u00ae (MLS\u00ae) last month outpaced the 10-year average in both categories for January.
\n\u201cThere was a healthy balance between the number of home buyers and sellers in our market in January, but there\u2019s always variation in activity from region to region,\u201d said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). “We\u2019re seeing strong sellers\u2019 market conditions in areas like Richmond and the west side of Vancouver.\u201d<\/p>\n

Over the last 12 months, the MLSLink\u00ae Housing Price Index (HPI) benchmark price of detached homes increased 22.6 per cent in Richmond and 12.2 per cent in Vancouver West. In comparison, detached home prices across the region increased 2.7 per cent over the same period.<\/p>\n

\u201cWhen you\u2019re looking to buy or sell a home, it\u2019s important to familiarize yourself with the wider trends in the market. It\u2019s equally important to seek out knowledge of your local area so you understand current market conditions in your neighbourhood,\u201d Moldowan said<\/p>\n

Looking across the region, the REBGV reports that residential property sales in Greater Vancouver reached 1,819 on the MLS\u00ae in January 2011. This represents a 4.2 per cent decline compared to the 1,899 sales recorded in December 2010, a decrease of 5.4 per cent compared to the 1,923 sales in January 2010 and a 138.7 per cent increase from the 762 home sales in January 2009.<\/p>\n

From a historical perspective, January\u2019s 1,819 homes sales slightly surpassed the 1,790 home sale average recorded in the region over the last ten years.<\/p>\n

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,801 in January 2011. This represents a 6.7 per cent decrease compared to January 2010 when 5,147 properties were listed, and a 182 per cent increase compared to December 2010 when 1,699 homes were added to the MLS\u00ae in Greater Vancouver.
\nAt 10,438, the total number of residential property listings on the MLS\u00ae increased 5.8 per cent in January compared to last month and increased 2.2 per cent from this time last year.<\/p>\n

Sales of detached properties on the MLS\u00ae in January 2011 reached 793, an increase of 12.5 per cent from the 705 detached sales recorded in January 2010, and a 171.6 per cent increase from the 292 units sold in January 2009. The benchmark price for detached properties increased 2.7 per cent from January 2010 to $810,045.<\/p>\n

Sales of apartment properties reached 713 in January 2011, a decline of 20.8 per cent compared to the 891 sales in January 2010, and an increase of 97.5 per cent compared to the 361 sales in January 2009.The benchmark price of an apartment property increased 1.4 per cent from January 2010 to $390,935.<\/p>\n

Attached property sales in January 2011 totalled 313, a decline of 4.3 per cent compared to the 327 sales in January 2010, and a 187.2 per cent increase from the 109 attached properties sold in January 2009. The benchmark price of an attached unit increased 2.6 per cent between January 2010 and 2011 to $495,140.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Here is the January 2011\u00a0Real Estate Stats from the Vancouver Real Estate Board Stability and regional \u2018hot spots\u2019 characterize January housing market The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region\u2019s largest communities. The number of properties listed for […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[3,7,12],"tags":[16,13,14,15],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pa0qGx-X","_links":{"self":[{"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/posts\/59"}],"collection":[{"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=59"}],"version-history":[{"count":7,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/posts\/59\/revisions"}],"predecessor-version":[{"id":104,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/posts\/59\/revisions\/104"}],"wp:attachment":[{"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=59"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=59"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=59"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}