New November listings decrease, increase in active listings balance market

Vancouver, BC December 4, 2006 - The Real Estate Board of Greater Vancouver reports that total residential sales for detached, attached and apartment properties decreased 19.7% when compared to November 2005.

"This is the first time since April 2006 that we've seen listings tighten in comparison to the same period in 2005," says REBGV president Rick Valouche. "However this decrease was balanced by our highest year-to-date inventory of active listings and the fact that the average days on market for homes selling in Vancouver has remained unchanged at 43 days when compared to 2005."

According to MLS sales data:

Apartment properties decreased by 11.5% in November 2006 compared to November 2005 but the benchmark price of an apartment in Greater Vancouver is $329,537 up 17% from one year ago.

The sales of attached properties decreased by 22.2% in November 2006 compared to November 2005. The benchmark price of an attached unit in Greater Vancouver is $410,085 up 17.9% from a year ago.

Detached property sales decreased by 26.6% in November 2006 compared to November 2005. The benchmark proce of a detached home in Greater Vancouver is $647,562 up 14.3% from last year.

source: Real Estate Board of Greater Vancouver