Agent Will

Compliments of Will Wertheim – TRG Realty – 604-787-6977 – www.AgentWill.com News Release FOR IMMEDIATE RELEASE: New listings outpace sales to start the spring cycle VANCOUVER, B.C. – May 2, 2008 – An influx of new listings entered the Greater Vancouver housing market in April 2008, while residential sales reduced slightly compared to the same period a year ago. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,218 in April 2008, a decline of five per cent from the 3,387 sales recorded in April 2007, and a 3.8 per cent drop from the 3,345 sales in April 2006. New listings for detached, attached and apartment properties increased 25.6 per cent to 7,010 in April 2008 compared to April 2007, when 5,580 new units were listed. “Residential sales continue to be strong, but there is a lot more choice on the market today. This is good news for a market that has been defined by record-breaking activity for most of this decade,” said REBGV president, Dave Watt. “Despite this seeming re-balance between sales and listings, it took, on average, six fewer days to sell a home in Greater Vancouver compared to the previous year, with a days on market average of 33 in April this year,” said Watt. Sales of detached properties declined 7.8 per cent to 1,293 from the 1,403 detached sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 11 per cent from April 2007 to $771,321. Sales of apartment properties in April 2008 declined 2.4 per cent to 1,317, compared to 1,350 sales in April 2007. The benchmark price of an apartment property increased 9.6 per cent from April 2007 to $389,070. Attached property sales in April 2008 are down 4.1 per cent to 608, compared with the 634 sales in April 2007. The benchmark price of an attached unit increased 10.5 per cent between April 2007 and 2008 to $477,900. Bright spots in Greater Vancouver in April 2008 compared to April 2007: Attached: Squamish Vancouver East up 84.6 per cent (24 units sold from 13) up 50 per cent (51 units sold from 34) Compliments of Will Wertheim – TRG Realty – 604-787-6977 – www.AgentWill.com Sunshine Coast Apartments: Maple Ridge/Pitt Meadows New Westminster Port Moody/Belcarra Richmond up 157.1 per cent (18 units sold from 7) up 32.3 per cent (41 units sold from 31) up 33.8 per cent (95 units sold up from 71) up 23.7 per cent (47 units sold up from 38) up 7.8 per cent (179 units sold from 166) The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board’s area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. The Real Estate Board of Greater Vancouver is an association representing more than 9,500 REALTORS®. The Real Estate Board provides a variety of membership 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.realtylink.org. For more information please contact: Craig Munn, Assistant Manager of Communications Real Estate Board of Greater Vancouver Phone: (604) 730-3146 Fax: (604) 730-3102 E-mail: cmunn@rebgv.org Compliments of Will Wertheim – TRG Realty – 604-787-6977 – www.AgentWill.com Preliminary Report PROPERTY TYPE Residential Detached MLSLINK HOUSING PRICE INDEX AREA BENCHMARK PRICE 3 MONTH AVG PRICE 1 YEAR 3 YEAR 5 YEAR PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE (+/-) PRICE % % % $568,127 0.5% $565,061 239.96 10.4 50.0 101.9 $771,321 0.9% $765,760 227.8 11.0 48.7 94.5 $770,188 2.0% $765,028 226.7 11.3 50.9 92.7 $665,125 4.1% $660,800 234.0 8.8 48.0 90.5 $684,140 2.6% $671,451 223.5 13.2 45.7 87.2 $462,276 1.9% $459,764 210.9 7.9 37.3 76.1 $589,014 4.1% $600,740 242.8 11.7 43.1 109.0 $913,457 2.2% $907,953 228.2 11.7 45.1 86.9 $480,838 7.6% $494,466 197.4 4.0 30.2 61.8 $549,753 3.8% $545,036 232.4 13.8 43.4 84.9 $813,877 7.0% $751,984 244.6 10.4 51.2 108.8 $769,867 1.6% $767,638 227.3 11.4 54.4 93.2 $591,919 8.0% $584,514 224.8 25.6 44.2 80.7 $428,710 4.2% $430,815 243.9 5.9 34.9 111.9 $691,988 1.6% $688,940 234.4 10.2 51.8 99.8 2.5% $1,449,410 240.1 13.0 61.7 108.8 $1,446,724 $1,591,055 4.5% $1,517,511 234.4 12.2 43.7 112.9 $477,900 0.7% $474,530 231.8 10.5 46.7 96.6 $460,487 1.2% $460,851 230.7 10.1 45.8 98.8 $427,412 2.2% $430,699 230.6 9.2 41.8 88.6 $467,973 6.2% $454,192 250.6 19.6 50.0 107.5 $320,420 1.7% $315,837 222.3 7.7 41.2 90.8 $602,957 2.6% $615,007 236.0 7.8 44.8 96.9 $404,316 2.6% $393,343 222.3 9.7 44.4 87.3 $415,389 2.5% $412,094 247.9 11.7 49.9 104.5 $467,423 1.3% $463,350 225.4 11.4 49.2 85.0 $530,952 2.4% $519,924 248.3 14.5 54.7 125.1 $729,962 2.7% $722,049 260.5 10.7 47.8 110.1 $389,070 0.5% $388,570 253.1 9.6 53.1 111.2 $348,523 1.2% $345,035 260.5 10.9 53.1 114.7 $300,286 1.9% $301,795 256.1 8.9 55.3 105.8 $364,169 4.8% $355,323 237.2 16.3 55.6 104.7 $264,596 2.8% $261,759 281.0 5.9 63.3 120.0 $300,358 1.9% $301,139 244.0 6.9 54.0 117.1 $391,673 2.4% $395,799 249.2 5.8 47.8 117.2 $260,563 1.8% $259,628 305.2 8.9 60.1 139.1 $312,294 2.4% $307,218 266.5 6.0 55.6 104.8 $322,710 1.2% $319,552 262.3 10.9 56.2 120.3 $331,630 1.7% $332,052 271.5 12.6 65.4 135.7 $494,011 1.0% $496,206 251.3 9.8 49.5 102.1 $673,399 8.8% $635,060 241.6 2.4 37.5 123.4 April 2008 Attached 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 New Westminster North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West West Vancouver Maple Ridge & Pitt Meadows HOW TO READ THE TABLE: BENCHMARK PRICE: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market. PRICE RANGE: Expresed as a + or – percentage of the benchmark price, there is a 90% probability the sale price of a benchmark house is within the interval. PRICE INDEX: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales. In Year 2001, the indexes are averaged to 100 Key: * = Sales sample too small; Price information not reported. 4 15 2008 MLS® SALES Facts Burnab y Vanco uver E ast Coquit lam Maple Rid ge/Pitt Meado ws New W estmin ster North Vanco uver Port C oquitla m Po rt Moo dy/Belc arra Richm ond Squam ish Sunsh ine Co ast Vanco uver W est West V anco uver/H owe So und 185 51 121 67 65 8 Detached 98 47 69 $641,500 $459,000 $280,000 95 23 68 $674,000 $449,000 $271,000 116 46 63 $590,000 $317,500 $251,500 350 121 249 $640,000 $460,000 $282,000 409 129 239 $584,500 $382,000 $247,000 $360,000 $295,000 $570,600 68 0 $378,500 n/a n/a 48 0 202 23 $338,000 n/a $440,600 n/a $326,000 $235,500 503 218 116 $456,600 $288,950 $217,000 $630,000 n/a $490,000 61 0 149 303 $563,000 $399,000 $295,000 93 30 276 $521,000 $373,250 $258,500 35 0 184 61 196 13 409 81 $305,000 n/a $232,500 $258,125 n/a n/a $312,500 n/a $554,000 $320,500 348 121 323 $910,000 $605,000 $370,000 388 138 350 $762,750 $549,000 $326,500 $576,000 n/a $464,950 $562,000 $762,500 21 0 31 71 90 38 $483,000 n/a $220,500 162 106 146 $528,000 $382,000 $246,500 180 83 143 $472,000 $346,000 $219,000 11 0 64 13 35 17 60 8 148 29 121 53 n/a n/a $244,000 $303,000 $379,900 $248,000 n/a n/a $330,900 n/a $590,000 $391,000 $383,786 $321,500 26 31 38 $814,000 $434,000 $326,900 88 95 153 $670,000 $434,500 $330,000 79 92 121 $730,000 $418,000 $305,000 $615,500 n/a $497,450 $588,700 $912,000 $530,000 n/a 18 0 49 91 102 49 50 13 0 55 17 29 31 24 109 157 $711,000 $454,400 $332,500 165 158 166 $631,500 $416,000 $279,500 544 395 601 $705,500 $457,000 $325,000 568 472 577 $635,500 $409,000 $272,000 60 3 113 20 108 48 11 161 n/a n/a $222,000 $288,400 $353,000 $250,000 $341,000 $320,000 n/a n/a $323,500 n/a $586,900 $382,350 $441,000 $470,000 $449,900 n/a 14 16 19 n/a n/a n/a 22 13 14 $438,000 n/a n/a 66 60 46 $485,000 $437,500 $277,650 81 51 59 $445,500 $363,500 $269,900 $636,250 n/a $483,700 $543,900 $909,000 $519,500 $768,000 $705,500 $528,750 16 0 41 95 65 36 47 179 6 7 0 57 13 41 23 25 112 24 18 2 123 Delta South 62 Islands – Gulf 4 122 30 113 56 33 173 22 74 W histler /Pemb erton 12 15 141 438 16 9 April 2008 1,293 608 1,317 $700,500 $1,501,000 $1,700,000 n/a Number of Sales Attached 100 Apartment 157 April 2008 Detached $740,000 $410,000 n/a n/a 43 4 4 $370,000 n/a n/a 66 7 2 $375,500 n/a n/a 188 33 8 $389,500 $295,000 n/a 200 25 10 $370,000 $256,000 n/a Median Selling Price Attached $415,800 $534,900 $316,000 140 39 164 $683,500 $532,540 $323,000 222 34 148 $620,000 $498,500 $275,500 541 136 505 $675,000 $528,750 $317,000 664 153 524 $615,000 $467,900 $274,000 $748,000 $444,500 136 55 404 $1,474,000 $719,000 $453,000 162 74 479 $1,270,000 $653,000 $410,900 470 202 1,532 $1,502,000 $725,000 $445,000 555 243 1,763 $1,250,000 $655,500 $397,250 n/a n/a 62 8 17 $1,620,000 n/a n/a 62 7 14 $1,440,000 n/a n/a 225 23 58 $1,600,000 $949,000 $735,000 223 20 55 $1,295,000 $831,500 $654,600 n/a n/a 5 19 8 n/a n/a n/a 12 14 14 n/a n/a n/a 33 68 35 $1,010,000 $685,000 $285,000 42 58 42 $1,187,500 $687,500 $331,500 n/a 1,116 511 1,370 n/a 1,403 634 1,350 n/a 4,045 1,921 4,744 n/a 4,618 2,095 4,921 n/a Apartment $334,400 Detached 97 Number of Sales Attached 69 Apartment 170 March 2008 Detached $736,500 Median Selling Price Attached $466,000 Apartment $325,500 Detached 131 Number of Sales Attached 110 Apartment 161 April 2007 Detached $665,900 Median Selling Price Attached $419,250 Apartment $302,500 Detached 331 Compliments of Will Wertheim – TRG Realty – 604-787-6977 – www.AgentWill.com Number of Sales Attached 281 Apartment 575 Jan. Apr. 2008 Detached $735,000 Year-to-date Median Selling Price Attached $448,800 Apartment $335,000 Detached 408 Number of Sales Attached 335 Apartment 578 Jan. Apr. 2007 Detached $655,000 Year-to-date Median Selling Price Attached $401,000 Apartment $299,950 Note: Median Selling Prices are not reported for areas with less than 20 sales or for the Gulf Islands 4 15 2008 MLS® LISTINGS Facts Burnab y Vanco uver E ast Coquit lam Maple Rid ge/Pitt Meado ws New W estmin ster North Vanco uver Port C oquitla m Po rt Moo dy/Belc arra Richm ond Squam ish Sunsh ine Co ast Vanco uver W est West V anco uver/H owe So und 410 76 372 190 193 18 Detached 236 69 207 42% 68% 33% 241 70 126 39% 33% 54% 197 48 113 59% 96% 56% 862 253 612 41% 48% 41% 700 176 380 58% 73% 63% 65% 73% 65% 104 0 37% 0% n/a 66 1 313 62 64% n/a 51% 781 304 199 64% 72% 58% 59% 0% 68% 52% 31% 45% 96 0 295 658 44% 54% 46% 173 58 463 54% 52% 60% 59 1 270 113 379 42 916 184 78% n/a 41% 57% 58% 0% 97% 59% 67% 69% 668 227 637 52% 53% 51% 585 183 516 66% 75% 68% 61% 38% 68% 45% 64% 27 0 76 125 131 63 59% 36% 60% 347 231 283 47% 46% 52% 293 145 232 61% 57% 62% 19 1 66 22 52 47 99 21 217 64 189 90 106% n/a 72% 54% 80% 70% 144% n/a 73% 106% 41% 67% 52% 48% 44 40 60 59% 78% 63% 203 179 334 43% 53% 46% 151 140 279 52% 66% 43% 57% 19% 46% 49% 66% 56% 23% 17 0 68 167 128 70 104 9 0 75 16 71 46 46 170 323 58% 64% 49% 277 214 329 60% 74% 50% 1,107 637 1,275 49% 62% 47% 982 708 1,048 58% 67% 55% 105 16 246 41 163 86 48 278 62% n/a 61% 43% 30% 43% 57% 47% 37% n/a 64% 42% 76% 27% 44% 55% 75% 27% 48 40 9 29% 40% 211% 29 11 17 76% 118% 82% 169 101 64 39% 59% 72% 105 54 85 77% 94% 69% 55% 25% 46% 48% 52% 55% 51% 51% 45% 26 0 67 222 217 83 83 383 22 19 0 89 31 54 84 57 203 32 12 4 62% 150% 50% 116 7 3 37% 57% 133% 141 6 7 47% 117% 29% 448 55 31 42% 60% 26% 447 27 23 45% 93% 43% 294 Delta South 113 Islands – Gulf 16 265 63 219 102 65 342 49 120 W histler /Pemb erton 31 40 243 45% 67% 58% 332 81 241 42% 48% 68% 357 68 227 62% 50% 65% 1,262 249 862 43% 55% 59% 1,177 232 854 56% 66% 61% 997 33% 35% 44% 268 133 811 51% 41% 50% 307 119 700 53% 62% 68% 1,117 531 3,239 42% 38% 47% 893 420 2,702 62% 58% 65% 38 34% 44% 42% 116 4 21 53% 200% 81% 145 13 48 43% 54% 29% 592 54 126 38% 43% 46% 413 47 135 54% 43% 41% 35 39% 38% 26% 22 33 28 23% 58% 29% 25 23 26 48% 61% 54% 107 133 139 31% 51% 25% 77 93 113 55% 62% 37% April 2008 2,890 1,146 2,974 n/a 2,344 940 2,390 n/a 2,439 882 2,259 n/a 9,184 3,647 9,788 n/a 7,924 3,157 8,189 n/a Number of Listings Attached 172 Apartment 347 April 2008 Detached 42% % Sales to Listings Attached 58% Apartment 45% Detached 218 Number of Listings Attached 139 Apartment 274 March 2008 Detached 44% % Sales to Listings Attached 50% Apartment 62% Detached 237 Number of Listings Attached 133 Apartment 310 April 2007 Detached 55% % Sales to Listings Attached 83% Apartment 52% Detached 781 Compliments of Will Wertheim – TRG Realty – 604-787-6977 – www.AgentWill.com Number of Listings Attached 554 Apartment 1,137 Jan. Apr. 2008 Detached 42% Year-to-date* % Sales to Listings Attached 51% Apartment 51% Detached 772 Number of Listings Attached 503 Apartment 1,056 Jan. Apr. 2007 Detached 53% Year-to-date* % Sales to Listings Attached 67% Apartment 55% * Year-to-date listings represent a cumulative total of listings rather than total active listings. Compliments of Will Wertheim – TRG Realty – 604-787-6977 – www.AgentWill.com Real Estate Board of Greater Vancouver Listing & Sales Activity Summary Listings 3 Apr 2008 Col. 2 & 3 Percentage Variance 5 Apr 2007 6 Mar 2008 1 Apr 2007 2 Mar 2008 7 Apr 2008 Col. 6 & 7 Percentage Variance Sales 9 Feb 2007 Apr 2007 10 Feb 2008 Apr 2008 Col. 9 & 10 Percentage Variance BURNABY DETACHED ATTACHED APARTMENTS 237 133 310 218 139 274 236 172 347 % 8.3 23.7 26.6 131 110 161 97 69 170 98 100 157 % 1.0 44.9 -7.6 341 284 492 272 229 477 % -20.2 -19.4 -3.0 COQUITLAM DETACHED ATTACHED APARTMENTS 197 48 113 241 70 126 294 69 207 22.0 -1.4 64.3 116 46 63 95 23 68 123 47 69 29.5 104.3 1.5 339 108 206 299 100 192 -11.8 -7.4 -6.8 DELTA DETACHED ATTACHED APARTMENTS 99 19 27 105 9 17 113 19 26 7.6 111.1 52.9 60 11 21 60 13 18 62 7 16 3.3 -46.2 -11.1 183 40 58 166 27 50 -9.3 -32.5 -13.8 MAPLE RIDGE/PITT MEADOWS DETACHED ATTACHED APARTMENTS 217 66 76 246 75 68 265 89 67 7.7 18.7 -1.5 148 64 31 113 55 49 122 57 41 8.0 3.6 -16.3 428 190 97 342 158 125 -20.1 -16.8 28.9 NORTH VANCOUVER DETACHED ATTACHED APARTMENTS 189 52 131 163 71 128 219 54 217 34.4 -23.9 69.5 121 35 90 108 29 102 113 41 65 4.6 41.4 -36.3 338 112 298 302 105 260 -10.7 -6.3 -12.8 NEW WESTMINSTER DETACHED ATTACHED APARTMENTS 64 22 125 41 16 167 63 31 222 53.7 93.8 32.9 29 13 71 20 17 91 30 13 95 50.0 -23.5 4.4 79 26 230 67 49 249 -15.2 88.5 8.3 PORT MOODY/BELCARRA DETACHED ATTACHED APARTMENTS 44 40 60 48 46 104 65 57 83 35.4 23.9 -20.2 26 31 38 11 24 50 33 25 47 200.0 4.2 -6.0 69 76 105 71 79 134 2.9 3.9 27.6 PORT COQUITLAM DETACHED ATTACHED APARTMENTS 90 47 63 86 46 70 102 84 83 18.6 82.6 18.6 53 17 38 48 31 49 56 23 36 16.7 -25.8 -26.5 159 70 116 142 86 115 -10.7 22.9 -0.9 RICHMOND DETACHED ATTACHED APARTMENTS 277 214 329 278 170 323 342 203 383 23.0 19.4 18.6 165 158 166 161 109 157 173 112 179 7.5 2.8 14.0 474 396 484 464 325 480 -2.1 -17.9 -0.8 SUNSHINE COAST DETACHED ATTACHED APARTMENTS 141 6 7 116 7 3 120 12 4 3.4 71.4 33.3 66 7 2 43 4 4 74 18 2 72.1 350.0 -50.0 175 19 9 160 26 8 -8.6 36.8 -11.1 SQUAMISH DETACHED ATTACHED APARTMENTS 29 11 17 48 40 9 49 32 22 2.1 -20.0 144.4 22 13 14 14 16 19 22 24 6 57.1 50.0 -68.4 62 34 54 49 52 37 -21.0 52.9 -31.5 VANCOUVER EAST DETACHED ATTACHED APARTMENTS 357 68 227 332 81 241 410 76 243 23.5 -6.2 0.8 222 34 148 140 39 164 185 51 141 32.1 30.8 -14.0 580 130 439 453 120 425 -21.9 -7.7 -3.2 VANCOUVER WEST DETACHED ATTACHED APARTMENTS 307 119 700 268 133 811 372 190 997 38.8 42.9 22.9 162 74 479 136 55 404 121 67 438 -11.0 21.8 8.4 465 206 1475 395 174 1255 -15.1 -15.5 -14.9 WHISTLER DETACHED ATTACHED APARTMENTS 25 23 26 22 33 28 31 40 35 40.9 21.2 25.0 12 14 14 5 19 8 12 15 9 140.0 -21.1 12.5 30 45 36 27 52 30 -10.0 15.6 -16.7 WEST VANCOUVER/HOWE SOUND DETACHED ATTACHED APARTMENTS 145 13 48 116 4 21 193 18 38 66.4 350.0 81.0 62 7 14 62 8 17 65 8 16 4.8 0.0 -5.9 182 18 52 183 21 47 0.5 16.7 -9.6 GRAND TOTALS DETACHED ATTACHED APARTMENTS 2418 881 2259 2328 940 2390 2874 1146 2974 23.5 21.9 24.4 1395 634 1350 1113 511 1370 1289 608 1317 15.8 19.0 -3.9 3904 1754 4151 3392 1603 3884 -13.1 -8.6 -6.4 Real Estate Board of Greater Vancouver Average Price Graph January 1977 to April 2008 DETACHED CONDOMINIUM ATTACHED APARTMENTS IN THOUSANDS ($) 1000 $880,844 900 800 700 $509,809 600 500 400 $408,037 300 Compliments of Will Wertheim – TRG Realty – 604-787-6977 – www.AgentWill.com 200 100 0 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 NOTE: From 1977 – 1984 condominium averages were not separated into attached & apartment.