2005 Was A Record Breaker!

West Vancouver

Detached Homes - 748 units sold in 2005 vs. 774 in 2004 representing a decrease of 4% yet prices continued to rise up 14% to $1,050,000.

Attached Homes - 78 units sold in 2005 vs. 90 in 2004 a decrease of 8% with prices rising to $811,197, an increase of 30%.

Apartments - 224 units sold in 2005 vs. 184 in 2004 down 22% with prices increasing 9% to $490,000.

"New Listing" inventory levels were down (12%) for Detached Homes and down (25%) for Attached Homes contributing to lagging unit sales volumes.

North Vancouver

Detached Homes - 1,235 units sold in 2005 vs. 1,213 in 2004 an increase of 2% with prices rising by 13% to $643,500.

Attached Homes - 484 units sold in 2005 vs. 383 in 2004 an increase of 26% with prices rising to $427,500. or 13%.

Apartments - 1,163 units sold in 2005 vs. 1,093 in 2004 an 6% increase with prices up 28% to $287,000.

"New Listing" inventory levels were down (10%) in Detached Homes, up 7% in Attached Homes and down (10%) for Apartments in a very active market.

Squamish

Detached Homes - 241 units sold in 2005 vs. 191 in 2004 an increase of 26% with prices up 11% to $383,000.

Attached Homes - 146 units sold in 2005 vs. 117 in 2004 a 25% increase with prices rising to $289,500. a 13% lift.

Apartments - 48 units sold in 2005 vs. 50 in 2004 a 4% drop. Prices were up 9% to $165,000.

"New Listing" inventory levels were up 22% for Detached Homes, up 22% for Attached Homes, and up 39% for Apartments contributing to an active market.

Following is an excerpt from a recent Real Estate Board of Greater Vancouver (REBGV) publication

Biggest Year on Record for Greater Vancouver Housing Sales!

"Following the record-breaking sales pace of the last eight months, it's no surprise that 2005 was the biggest year on record for the Greater Vancouver residential Housing Market.  Housing Sales for 2005 reached 40,350 [units] surpassing the next highest total of 37,816 in 2003 by 7.2%."

"last year was truly remarkable with sales exceeding 40,000 for the first time and the largest dollar volume of sales achieved in our board history" says Georges Pahud, REBGV President.

"Many factors contributed to this accomplishment - mainly economics of course, interest rates, confidence in the economy, international and inter-provincial migration and employment, but mainly people:  the public and their continuing faith in real estate and Realtors.  Not forgetting that one of the fundamental reasons Greater Vancouver's real estate market continues to flourish is because it's a great place to live.  This is a good timefor consumers to buy real estate in Vancouver" said Pahud.