“Home sales climb in April.”

Greater Vancouver Real Estate - The Greater Vancouver Housing market experienced a slight rise in prices in April 2009. In spite of the climb, statistics released by the Vancouver Real Estate Board indicate a 31% increase in property sales over March 2009. The spike was likely attributed to low interest rates, which offered home buyers more affordability. While sales conditions are not expected to simulate those of the peaking market any time soon, the decreasing listings and increase in sales have pushed pricing into a more practical range, creating more balance and stability in the current Vancouver housing market.

Burnaby Real Estate – Similar to conditions observed throughout the metro region, property sales were on a rise. Burnaby is attracting new and qualified buyers to the region for its affordability appeal. Notably, apartment sales also continued to rise by 20.9% from the previous month, making it one of the more favourable purchase areas in Greater Vancouver in April, 2009.

Tip for the month

In market conditions such as these; get ahead by consulting with an experienced realtor who can show you how you can save more on total costs.

Greater Vancouver Real Estate Stats for April 2009:

*All figures set against April, 2008

Detached Sales

Vancouver West: Up by 59.5% (from 121 units sold to 193)

Vancouver East: Down by 9% (from 185 units sold to 167)

Attached Sales

Vancouver West: Up by 46.3% (from 67 units sold to 98)

Vancouver East: Down by 25.4% (from 51 units sold to 38)

Apartment Sales

Vancouver West: Down by 4.2% (from 438 units sold to 418)

Vancouver East: Down by 31% (from 141 units sold to 97)

NOTE: The MLSLink Housing Price Index® (HPI) calculates benchmark prices, which represents a typical property within a market. The HPI takes into consideration what averages and medians do not - the price of housing features such as lot size, age, number of rooms, ect. These \\\'typical house\\\' in a given area. Each month\\\'s sales determine the current prices paid for bedrooms, bathrooms, fireplaces, ect. and apply those new values to the typical house model. The HPI measures typical, pure price change (inflation or deflation).

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