Greater Vancouver housing sales on course for record-breaking year!
The Real Estate Board of Greater Vancouver reports that year-to-date sales surpass the record-setting pace set in 2003, with 38,198 units sold so far this year. This represents an increase of 10.7% compared to November 2004.
Sales of attached properties were the highest ever recorded for a November, increasing 29.1% to 512 units sold compared to 402 units in November 2004. The benchmark price of an attached unit is $347,935, up 13.8% from November 2004.
Sales of detached properties increased 18.3% per cent to 1,232 sales in November 2005 compared to 1,041 sales in November 2004. The benchmark price of a detached home increased to $566,500 up 19% from a year ago.
Bright spots in Greater Vancouver in November 2005 compared to November 2004:
APARTMENTS:
New Westminster up 22.5% (87 units sold, up from 71)
North Vancouver up 14.3% (80 units sold, up from 70)
Richmond up 20.8% (145 units sold, up from 120)
Vanvcouver West up 24.1% (417 units sold, up from 336)
ATTACHED:
Burnaby up 59.6% (75 units sold, up from 47)
Coquitlam up 54.5% (34 units sold, up from 22)
Richmond up 18.8% (114 units sold, up from 96)
Vancouver West up 32.8% (77 units sold, up from 58)
DETACHED:
Burnaby up 11.6% (106 units sold, up from 95)
Coquitlam up 24.7% (121 units sold, up from 97)
Maple Ridge/Pitt Meadows up 25.5% (133 units sold, up from 106)
New Westminster up 57.1% (33 units sold, up from 21)
Richmond up 13% (139 units sold, up from 123)
Vancouver East up 31.3% (214 units sold, up from 163)
Port Coquitlam up 32.6% (57 units sold, up from 43)
Source: Real Estate Board of Greater Vancouver