Greater Vancouver Real Estate - In November the value of homes continued to rise, as did housing demands, which were exceptionally higher than usual at this time of the year. Particularly impressive was the array of property prices and housing types to choose from. As echoed by Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president “Prospective homebuyers today have more options at different price levels than ever before.\\\" The REBGV reports that residential property sales in November were the third highest volume ever recorded in Greater Vancouver for that month. Sales in the region totalled 3,083 in November 2009, an increase of 252.7 per cent compared to November 2008 when 874 sales were recorded and a 16.8 per cent decrease compared to the 3,704 sales recorded in October 2009. New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,653 in November 2009. This represents a 21.3 per cent increase compared to November 2008 when 3,012 new units were listed, and a 26.6 per cent decline compared to October 2009 when 4,977 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.

Burnaby Real Estate - As throughout the lower mainland real estate sales in Burnaby showed no slow downs over the past month; with the high buyers demand, low interest rates and new developments on their way, this continues to be a hot zone –although a slow down is expected in December throughout the holiday season

Greater Vancouver Real Estate Stats for November 2009:

*All figures set against November, 2008

Detached Sales

Sales of detached properties increased 261.5 per cent to 1,164 from the 322

Attached Sales

Attached property sales increased 268.3 per cent to 523, compared with the 142

Apartment Sales

Sales of apartment properties increased 240.5 per cent to 1,396 compared to 410

Tip for the month

Ask your Realtor how the Olympics will affect your property and how to maximize the value of your home during that period

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).

For more information and a free market - analysis please call Italo Fionda