News Release

FOR IMMEDIATE RELEASE

Greater Vancouver home sales trend toward buyers’ market
over summer
VANCOUVER, B.C. - September 2, 2011 - August marked the third consecutive month that home sale activity
in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region
has exceeded the 10-year norm every month since the beginning of the year.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,378 in August. This
total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third
lowest total for August in the last 10 years.
“MLS® statistics continue to indicate that we’re in a balanced market,” Rosario Setticasi, REBGV president
said. “However, with a sales-to-actives listings ratio of 15 per cent, Greater Vancouver is in the lower end of a balanced market and has been trending toward a buyers’ market over the past three months.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,685 in August.
This represents a 24.9 per cent increase compared to August 2010 when 3,750 properties were listed for sale on
the MLS® and an eight per cent decline compared to the 5,097 new listings reported in July 2011. Last month’s
new listing total was the highest volume recorded for August in 16 years.
At 15,437, the total number of residential property listings on the MLS® increased 1.4 per cent in August compared to July 2011 and rose 0.1 per cent compared to this time last year.
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver
over the last 12 months has increased 8.5 per cent to $625,578 in August 2011 from $576,597 in August 2010.
“Year over year, prices are up. However, in the detached home category, benchmark prices have come down
slightly in each of the past two months,” Setticasi said. “It’s important for people entering the market to under!"#$%&"'#"&#(")*)"+&(#$&%),,-.&!)/$)0(#$"1+&%-2-$%)$/&3$&"'-&#.-#&#$%&2.32-."+&"+2-45
Sales of detached properties on the MLS® in August 2011 reached 1,020, an increase of 14.2 per cent from the
893 detached sales recorded in August 2010, and a 25.4 per cent decrease from the 1,367 units sold in August
2009. The benchmark price for detached properties increased 11.7 per cent from August 2010 to $888,243.
Sales of apartment properties reached 955 in August 2011, a 2.1 per cent increase compared to the 935 sales in
August 2010, and a decrease of 34.8 per cent compared to the 1,464 sales in August 2009. The benchmark price of
an apartment property increased 5.6 per cent from August 2010 to $407,457.
Attached property sales in August 2011 totalled 403, a 7.8 per cent increase compared to the 374 sales in August
2010, and a 33.9 per cent decrease from the 610 attached properties sold in August 2009. The benchmark price of
an attached unit increased 4.5 per cent between August 2010 and 2011 to $511,433.
-30The real estate industry is a key economic driver in British Columbia. In 2010, 30,595 homes changed ownership in the Board's area, generating
$1.28 billion in spin-off activity and 8,567 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $21 billion in 2010. The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and
their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate,
statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

For more information please contact:
Craig Munn, Assistant Manager, Communications
Real Estate Board of Greater Vancouver
Phone: (604) 730-3146 Fax: (604) 730-3102
E-mail: cmunn@rebgv.org

also available at ! www.realtylink.org

9 3.5% $1.654 325.3 -5.3 -3.539 259.5 9.1 5.749 3.4 0.096 2.5% $452.777 5.976 2.432 240.0 HOW TO READ THE TABLE: BENCHMARK PRICE: Estimated sale price of a benchmark property.4 155.7% $2. .2 5.7 -0.9 3.492 266.8 6.6 15.101.251 265.0 $629.0 2.0 $516.1 4.6 6.6 $549.9 $307.8 26.7 171.3 10.1 11.8 142.9 $513.9 162.078 283.2 $888.912 2.9 $918.2% $896.3 11.172 249.886 4. Price information not reported.2 225.8% $587.5 10.122 3.871 242.0 $292. Benchmarks represent a typical property within each market.2% $374.0 36.9 149.percentage of the benchmark price.833 225.2 8.8 $1.308 2.4 7.9 1.976 2.9 178.8 -1.0 $579.1 $453.314 262.6% $247.0 $403.3 2.5% $1.630 250.154 231. In Year 2001.9 157.3 4.0 5.8 7.340 4.679 12.5 20.9 162.2 $715.7 4.007 6.193 1.917 264.025.426 2.942 264.7% $315.7 20.4 36.438 294.359 251.7 19.3 5.8% $403.0 $823.1 92.7% $474.844 229.7% $557.963.243 1.760.2 7.0 172.3 $511.336 3.710 4.3 11.5 -4.270 262.6 $472.087.785 221.1 24.939 2.994 253.988 265.0 9.1 20.4% $925.543 325.0 $750.6 124.8 3.4 10.078 2.2 $388.2 25.5% $513.8% $712.0 $969.1 -0.4% $308.765 259.4% $544.6% $722.5 162.432 1.6 175.7 72.1 148.2 23.1 155.3 15.8 6. the indexes are averaged to 100 Key: * = Sales sample too small.2 15.3 31.7 26.0 -8.1 $373.0 8.4% $391.7 11.1 13.297 206.6 1.4 19. PRICE INDEX: Index numbers estimate the percentage change in price on typical and constant quality properties over time.056 1.4 26.5 14.2% $636.1 28.9% $960.761.6 165.2% $294.4 2.140 3.1 69.6 $524.3 22.3 $461.2 $362.4% $643.3 7.2% $522.0 $367.6 148.3 12.8 40.0 5.225 9.8 19.5 21.9 $1.0 6.4 6.081 3.753 280.2 25.3 $737.162 251.4 $342.2 158.4 $402.1 $309.0 30.3 $739.3 $463.2 -1.9 140.5 10.7 8.2 2.9 $407.7 16.6 3.7 $246.2 21.6 191.6 168.MLSLINK HOUSING PRICE INDEX Preliminary Report August 2011 PROPERTY TYPE Residential Detached Attached AREA Greater Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge New Westminster North Vancouver Pitt Meadows Port Coquitlam Port Moody Richmond Squamish Sunshine Coast Vancouver East Vancouver West West Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows Apartment North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows New Westminster North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West West Vancouver BENCHMARK PRICE 3 MONTH AVG PRICE 1 YEAR 3 YEAR 5 YEAR 10 YEAR PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE CHANGE (+/-) PRICE % % % % $625.296 264.433 0.5 -5.600 270.5 37.4 136.2 13.9 104.6 43.4 152.6% $462.563 5.826 245.022 3.1% $306.457 0.9 144.2 9.6 9.4 29.0 150.909 2.9 138.7 8.5 $1.277 3.2 11.6% $744.8 22.2 22.4% $505.4 25.6 119.0 6.6 147.9 149.589 248.0 $626.7% $565.4% $341.359 284.5 227.9% $519.9 23.7 163.7 1.7 29.2 16.2 $554.5 7.4 43.091 212. All figures are based on past sales.5 14.510 9.2 8.3% $412.0 125.5 4.976 2. there is a 90% probability the sale price of a benchmark house is within the interval.4 12.6 8.074 279.2 156.942 176.042 239.2 15.526 2.283 279.632 249.3 $241. PRICE RANGE: Expresed as a + or .5 20.9 $395.292 259.928 4.2 20.9 24.0 114.4 35.688 3.1 17.1% $411.3% $810.0 24.8 135.0 0.6 178.9 4.510 1.578 0.482 212.376 3.1% $370.215 257.106 245.2% $839.9 13.3 5.3 151.175 1.8 1.5% $361.2 4.4 24.6% $405.2 $798.0 16.7 123.9% $733.4% $243.8 $306.9 -18.6% $628.5 3.759 2.1 -5.6 33.240 13.7 148.

Greater Vancouver 10 Year Trend Aug 2009 .tif MLS® Housing Apr 2009 Price Index Price Index .Aug 2011 Apr 2011 Dec 2010 Aug 2010 Apr 2010 Dec 2009 Dec 2008 Apartment Aug 2008 Apr 2008 Dec 2007 Aug 2007 Attached Apr 2007 Dec 2006 Aug 2006 Apr 2006 Dec 2005 Aug 2005 Detached Apr 2005 Dec 2004 Aug 2004 Apr 2004 Dec 2003 Aug 2003 Apr 2003 Aug 2002 Apr 2002 Dec 2001 80 100 120 140 160 180 200 220 240 Aug 2001 260 Year 2001 average = 100 Dec 2002 280 C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.

000 n/a $526.000 $880. 2011 August 2010 July 2011 August 2011 Number of Sales August 2011 2011 Port C oquitla m $237.500 $450.000 75 22 131 $347.000 62 46 100 $253.590 n/a 9.633 $500.500 57 27 58 $363.000 $448.173 499 1.000 603 71 211 $299.269 3.500 9 6 50 n/a n/a $670.000 $590. 2010 Year-to-date Jan.500 $267.000 $470.000 23 15 26 $345.000 $423.552 n/a 935 374 893 n/a 1.500 $410.500 480 285 718 $288.000 $742.000 35 40 356 $318.500 53 Attached Detached 89 Detached 151 $357.000 135 88 123 $347.000 $533.000 $545.000 $489.000 n/a $905.450 $290.500 $655.199.000 $740.000 $488.000 $780.000 619 264 891 $395.345 $333.775.037.000 Apartment 1.000 $820.000 $455.000 69 13 28 $290.500 $2.700 $556.500 Attached 165 $917.000 119 62 339 $332.200 $586.000 n/a $657.000 n/a n/a 22 16 14 $346.500 Sound Wes t V a n couve r/Howe MLS® SALES Facts Whistl er/Pem berton n/a 9.000 72 Attached $875.000 39 31 316 n/a n/a $381.000 Detached 576 Attached 1.000 $437.000 204 161 328 n/a n/a $555.000 29 65 123 n/a n/a n/a 6 15 10 n/a n/a n/a 0 2 17 n/a n/a n/a 4 10 13 Squam ish 18 $228.000 $515.000 160 45 898 n/a n/a $1.675.700 $492.000 $308.000 $875.950 626 101 245 $272.186 $489.000 $838.000 $423.475.000 18 11 48 Islands .771 8.000 $816.000 $860.262 762 Detached Apartment $356.943 n/a $619.000 $484.344 $490.000 $451.250 $938.000 50 78 125 $230.Median Selling Price Number of Sales Median Selling Price Number of Sales Median Selling Price Number of Sales Median Selling Price Number of Sales Median Selling Price $342.020.680.231 4.000 18 5 86 n/a n/a $2.000 $530.000 63 23 73 North Vanco uver Note: Median Selling Prices are not reported for areas with less than 20 sales or for the Gulf Islands Year-to-date Jan. Aug. Aug.000 $710.000 $409.296 811 1.750 $384.000 $1.000 237 171 317 $239.865.000 $490.000 $1.026 10.000 69 23 148 Vanco uver W est $463.410 $309.000 872 311 1.500 $1.000 $540.Gulf n/a n/a $366.900 $484.193 $353.000 $283.900 Maple R id g e/Pitt M eadow s 108 $370.000 $558.000 n/a $570.000 $945.000 3.054.500 341 62 139 $508.000 $350.020 .000 592 269 673 $365.000 966 Detached Detached $340.000 188 303 803 $214.750 $635.000 3.329 24 31 66 6 23 $288.178 $345.000 $661.000 Apartment Apartment $528.000 $415.000 $600.750 Attached Apartment $780.500 $466.000 Apartment Attached 629 Attached $888.000 $1.000 337 57 130 $697.000 $490.000 14 2 80 8 53 101 66 n/a n/a n/a 15 16 10 n/a n/a n/a 4 14 13 n/a n/a n/a 3 18 $295.250 $920.000 205 152 165 $335.500 47 89 62 $242.579 $478.155 557 1.950 $620.250 198 358 821 n/a $306.174 770 1.000 324 53 134 $490.000 $468.000 14 6 37 n/a n/a $709.500 $314.750 51 46 112 Delta South $327.500 0 1 20 n/a n/a n/a 0 0 4 n/a n/a n/a 0 0 2 n/a n/a n/a 0 0 2 $231.150 $530.000 48 24 57 $280.000 7 0 48 n/a n/a $399.000 $495.000 n/a $534.000 $832.250 n/a 16 24 96 69 95 Richm ond $333.800 $561.000 823 297 1.000 $1.000 0 0 21 n/a n/a $620.250 53 5 26 $295.605.000 $878.500 $376.500 $837.000 109 62 481 n/a n/a $642.000 Port M oody/B elcarra 19 $261.000 $599.060.000 $992.000 Attached Apartment $803.000 $698.000 $563.000 $1.500 $599.329 $348.090.000 $705.099 n/a 955 403 1.500 $577.000 110 54 481 $745.000 Apartment Detached $499.500 90 40 144 $355.000 $2.000 $465.000 503 423 975 $262.000 127 84 124 $355.000 21 42 109 $214.500 95 Detached Attached $390.040 432 1.000 $887.000 4 4 43 n/a n/a $401.800 $2.000 19 13 26 $225.000 $628.000 10 4 46 n/a n/a $1.000 $1.500 77 17 92 $355.000 n/a n/a 21 8 13 n/a $399.950 $385.500 $395.500 $830.444 $775.100.000 21 17 40 $222.000 1.750 $848.000 195 161 169 $332.993 10 32 84 $216.000 $850.000 $619.000 $773.000 2 2 39 Sunsh ine Co ast 8 y Burnab er New W estmin st Vanco uver E ast $326.500 1.000 Detached Apartment 169 66 Attached Apartment 96 Detached Coquit lam $278.

824 1.183 18.459 1.266 50% 52% 46% 2.893 62% 68% 75% 205 124 165 48% 59% 42% 281 149 292 39% 42% 38% 244 165 251 Squam ish 34% 43% 37% 146 183 342 16% 41% 35% 181 159 348 60% 150% 36% 10 10 28 0% 11% 37% 27 19 46 25% 71% 39% 16 14 33 42% 46% 34% 84 87 1.627 561 2.172 1.019 . Aug.085 2.196 60% 51% 77% 124 43 170 52% 70% 50% 173 57 287 41% 55% 52% 169 42 287 Vanco uver E ast 8 y Burnab er New W estmin st Vanco uver W est 46% 46% 51% 6.030 Attached 2.309 54% 62% 61% 1.288 475 1.369 46% Apartment 89% Attached 114 Attached Detached 100 Detached 205 56% Apartment Apartment 60% 121 Attached 46% 205 Detached Attached 66% Apartment Detached 53% Attached 293 53% Detached Apartment 258 124 Attached Apartment 182 Detached Coquit lam 43% 50% 45% 1.509 38% 40% 46% 26 10 99 72% 83% 53% 25 6 161 50% 33% 56% 28 6 144 Wes t V a n couve r/Howe MLS® LISTINGS Facts 17% 29% 24% 275 310 263 19% 30% 28% 285 338 239 47% 47% 28% 32 34 36 11% 29% 33% 35 48 40 6% 58% 21% 52 31 38 Whistl er/Pem berton n/a 19.579 7.084 n/a 1.683 647 1.311 50% 60% 65% 1.044 30% 41% 33% 128 75 952 67% 67% 46% 6 6 93 47% 0% 43% 15 6 112 13% 50% 40% 15 4 97 Sunsh ine Co ast 18 54% 55% 51% 1. Year-to-date* Jan.332 1.670 15% 64% 55% 67 50 152 39% 74% 51% 54 57 212 44% 53% 53% 54 58 202 Maple R id g e/Pitt M eadow s 49% 76% 54% 1.354 2.086 632 1.594 46% 67% 60% 1.157 159 365 47% 63% 79% 112 8 33 50% 87% 80% 138 15 35 57% 43% 55% 116 14 42 * Year-to-date listings represent a cumulative total of listings rather than total active listings.172 19.388 7.509 Detached Apartment 57% 60% Apartment 62% 1.521 478 2.238 440 1.197 56% 54% 60% 288 84 1.001 2.420 n/a 2.047 Attached Attached 1.373 58% 73% 64% 98 37 91 53% 46% 69% 146 37 133 63% 61% 67% 100 38 109 Port C oquitla m 48% 51% 52% 498 334 612 40% 58% 62% 511 280 527 54% 27% 58% 35 48 45 40% 46% 74% 52 37 54 35% 60% 46% 66 25 56 Port M oody/B elcarra 39% 53% 45% 525 287 369 43% 51% 49% 449 317 346 50% 70% 56% 44 23 25 42% 16% 38% 50 50 34 40% 48% 46% 40 50 41 Richm ond 53% 60% 53% 2.552 Detached Detached 74% Apartment 2.% Sales to Listings Number of Listings % Sales to Listings Number of Listings % Sales to Listings Number of Listings % Sales to Listings Number of Listings % Sales to Listings 51% 56% Attached Apartment 50% Detached 1.151 790 2.654 53% 72% 68% 609 74 196 47% 67% 50% 724 93 279 54% 51% 48% 627 112 270 Sound 38% 49% 40% 290 110 1.476 2.764 41% 61% 49% 480 588 1. 2011 August 2010 July 2011 August 2011 Number of Listings August 2011 2011 North Vanco uver 46% 57% 51% 1.121 573 1.156 n/a 1.089 n/a 18.635 53% 41% 42% 90 58 136 55% 58% 56% 113 80 179 45% 88% 61% 114 52 185 Delta South 60% 53% 54% 200 116 625 60% 63% 69% 181 98 699 70% 75% 84% 20 8 44 36% 40% 68% 25 15 74 75% 138% 75% 24 8 64 Islands . Aug.923 743 2. 2010 Year-to-date* Jan.232 93 394 54% 64% 67% 1.336 51% 56% 59% 6.497 1.Gulf 0% 0% 14% 3 19 154 0% n/a 16% 10 0 126 n/a n/a 57% 0 0 7 n/a n/a 15% 0 0 13 n/a n/a 11% 0 0 18 37% 54% 46% 510 566 1.

2 20.4 99 10 26 161 6 25 144 6 28 -10.0 14 16 22 13 8 21 19 24 16 46.2 165 124 205 292 149 281 251 165 244 -14.2 200.4 142 16 18 140 7 18 -1.0 -26.4 152 50 67 212 57 54 202 58 54 -4.0 -6.9 16.2 14.0 400.4 26.8 9.3 93 6 6 112 6 15 97 4 15 -13.8 42.2 3.3 170 43 124 287 57 173 287 42 169 0.3 0.3 74 21 203 87 36 248 17.4 249 197 454 311 230 530 24.2 -12.6 0.3 -26.6 -3. 2 & 3 Percentage Variance Col.3 45 48 35 54 37 52 56 25 66 3.3 44 8 20 74 15 25 64 8 24 -13.4 36 34 32 40 48 35 38 31 52 -5.5 23.4 48.9 196 74 609 279 93 724 270 112 627 -3.1 -8.6 71.9 -10.8 -16.5 115 56 69 103 52 64 -10.0 -11.2 -6.6 889 374 935 1097 432 1040 1018 403 955 -7.6 -5.9 91 37 98 133 37 146 109 38 100 -18.7 -8.3 286 101 56 340 121 80 18.8 16.9 19.3 0.7 -4.6 10 16 15 13 14 4 8 18 3 -38.8 200.2 168 18 37 300 15 50 78.3 131 22 75 144 40 90 148 23 69 2.0 28 10 10 46 19 27 33 14 16 -28.5 400.9 26 13 19 40 17 21 26 15 23 -35.8 -21.3 -2.2 403 196 1112 482 189 1052 19.4 -56.2 2.2 25 23 44 34 50 50 41 50 40 20.7 35.8 0.7 80.9 89 53 151 95 72 165 96 66 169 1.0 -22.7 10 15 6 17 2 0 13 10 4 -23.2 124 84 127 123 88 135 95 69 96 -22. 9 & 10 Percentage Variance % COQUITLAM DETACHED ATTACHED APARTMENTS DELTA DETACHED ATTACHED APARTMENTS MAPLE RIDGE/PITT MEADOWS DETACHED ATTACHED APARTMENTS NORTH VANCOUVER DETACHED ATTACHED APARTMENTS NEW WESTMINSTER DETACHED ATTACHED APARTMENTS PORT MOODY/BELCARRA DETACHED ATTACHED APARTMENTS PORT COQUITLAM DETACHED ATTACHED APARTMENTS RICHMOND DETACHED ATTACHED APARTMENTS SUNSHINE COAST DETACHED ATTACHED APARTMENTS SQUAMISH DETACHED ATTACHED APARTMENTS VANCOUVER EAST DETACHED ATTACHED APARTMENTS VANCOUVER WEST DETACHED ATTACHED APARTMENTS WHISTLER DETACHED ATTACHED APARTMENTS WEST VANCOUVER/HOWE SOUND DETACHED ATTACHED APARTMENTS GRAND TOTALS DETACHED ATTACHED APARTMENTS .3 100.5 -23.5 -11.7 136 58 90 179 80 113 185 52 114 3.8 -42.7 -13.7 35.1 -4.0 43 4 4 48 0 7 39 2 2 -18.4 134 53 324 139 62 341 130 57 337 -6.4 -7.0 -20.1 1413 647 1683 2143 790 2151 2001 743 1923 -6.8 65 53 73 63 60 64 -3.9 -26.0 0.8 1.6 0.5 28.4 -33.0 13.0 37 6 14 50 6 9 48 11 18 -4.0 12.0 2.0 109 31 48 160 26 43 46.8 -17.0 0.0 46 4 10 86 5 18 80 2 14 -7.7 -15.2 2930 1317 3172 3581 1360 3261 22.0 25 37 29 29 42 17 16.6 -28.0 -35.3 2.9 26 5 53 28 13 69 23 6 66 -17.7 1.9 33 8 112 35 15 138 42 14 116 20.7 -32.1 13.3 2.2 245 80 194 318 81 250 29.0 83. 6 & 7 Percentage Variance 9 Jun 2010 Aug 2010 10 Jun 2011 Aug 2011 % Col.6 -16.2 -12.5 -41.0 -60.8 -4.1 -10.6 -5.8 % BURNABY DETACHED ATTACHED APARTMENTS Col.3 -40.1 -1.4 -13.Listing & Sales Activity Summary Listings Sales 1 Aug 2010 2 Jul 2011 3 Aug 2011 5 Aug 2010 6 Jul 2011 7 Aug 2011 100 114 205 205 121 293 182 124 258 -11.4 -35.1 -7.6 -13.0 -23.3 28.5 58 27 57 92 17 77 73 23 63 -20.5 -46.7 -31.5 -8.5 -33.3 -18.9 370 280 422 376 243 370 1.7 232 77 159 359 139 196 54.0 -71.3 404 117 283 472 97 269 16.0 84 32 10 109 42 21 108 31 24 -0.0 10.7 -40.6 -25.9 -53.0 43 37 15 41 22 10 -4.0 -17.4 22.9 57 24 48 100 46 62 112 46 51 12.

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 IN THOUSANDS ($) Residential Average Sale Prices .January 1977 to August 2011 .1984 condominium averages were not separated into attached & apartment.169.254 $561.101 $1.120 NOTE: From 1977 .0 200 400 600 800 1000 1200 1400 DETACHED CONDOMINIUM ATTACHED APARTMENTS $457.

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