The Year is 2000

What They Said

The statistics of March 2000 did not approach the detail found within the REBGV news releases of today. By comparison, they were stark. However, some details – notably prices for Vancouver homes, will give pause for reflection.

March 2000 News Release

Newspaper Boxes

According the March 2000 REBGV News Release – “MLS® sales figures for February show little change from 1999 statistics as overall sales for Greater Vancouver dipped 44 units or two percent last month.”

February attached property sales recorded a four per cent increase as 270 units changed hands, compared with the 259 units sold in February 1999. The benchmark price of $221,910 for Greater Vancouver attached homes reveals a three per cent increase from the same period last year.

Apartment sales showed no significant change in units sold and maintained the same sales level as last year. Prices of apartments moved upwards in February; the benchmark price of $162,060 is three per cent higher than one year ago.

3650 w 21 yr 20003650 W 21 – Sold for $375,000 in Nov 2000

February detached homes sales were recorded at 852 units, a slip of 67 units or seven per cent compared with last year’s figures. The benchmark price of a typical detached home in Greater Vancouver is $339,990, up nearly two per cent from one year ago.

Bright Spots

Other bright spots in February 2000 compared with February 1999 include:

Detached:

  • Burnaby (South) up 42% (37 units sold from 26)
  • Burnaby (North)up 16% (42 units sold from 36)
  • Port Coquitlam up 20% (42 units sold from 35)
  • West Vancouver up 34% (59 units sold from 44)
3650 W 21 yr 20043650 W 21st New House Sold $908,000 in 2004

Attached:

  • Port Coquitlam up 50% (24 units sold from 16)
  • Port Moody/Belcarra up 100% (24 units sold from 12)
  • Vancouver (Westside) up 50% (42 units sold from 28)

Apartments:

  • Burnaby (South) up 26% (38 units sold from30)
  • Coquitlam up 54% (37 units sold from 24)
  • Vancouver Westside up 10% (198 units sold from 180)

2000 Presidential Message

Dick Coates, REBGV President, says that increased housing demand has affected prices. “We’re seeing a neighbourhood by neighbourhood recovery that is resulting in a competition among buyers for what they view are the best areas to live.”

History repeats as we have heard words similar in the past few months?

Information Copyright REBGV Reprinted with Permission.

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

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