“The record-breaking real estate market cycle in Greater Vancouver, longer
than normal at seven consecutive years, ended in 2008 amidst global economic challenges. The change brought relief
from rising prices that saw benchmark prices escalate from $357,770 for a single family detached home in December
2001 to $648,421 by December 2008.
“The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties
decreased 35.3 per cent in 2008 to 24,626 sales compared to 38,050 sales in 2007. Property listings for the year
increased 13.9 per cent to 62,561 compared to 2007 when 54,945 new properties were listed.
““Trends in the latter half of 2008 showed a consistent month-over-month decrease in residential housing prices, a
departure from the rising home prices and record-breaking sales that were experienced in Greater Vancouver for much
of this decade,” said REBGV president, Dave Watt.
Current Mortgage
Rates, make now a great time to buy a home!
Sales volumes and selling prices comparisons
Detached Homes |
# of sales |
difference in
selling price |
| Burnaby |
- 43 % |
+ 5 % |
Coquitlam
|
- 38 % |
+ 7 % |
| Maple Ridge/Pitt Meadows |
- 37 % |
+ 5 % |
| New Westminster |
- 35 % |
+ 2 % |
| Port Coquitlam |
- 36 % |
+ 6 % |
| Port Moody / Belcarra |
- 29 % |
- 1 % |
Attached Homes |
# of sales |
difference in
selling price |
| Burnaby |
- 37 % |
+ 6 % |
Coquitlam
|
|
+ 7 % |
| Maple Ridge/Pitt Meadows |
- 39 % |
+ 6 % |
| New Westminster |
+ 8 % |
+ 5 % |
| Port Coquitlam |
- 20 % |
+ 5 % |
| Port Moody / Belcarra |
- 39 % |
- 2% |
Apartments |
#
of sales |
difference
in selling price |
| Burnaby |
- 32 % |
+ 4 % |
Coquitlam
|
- 33 % |
+ 6 % |
| Maple Ridge/Pitt Meadows |
- 24 % |
+ 3 % |
| New Westminster |
- 23 % |
+ 6 % |
| Port Coquitlam |
- 28 % |
+ 3 % |
| Port Moody / Belcarra |
- 27 % |
+ 2 % |
(All figures compare Jan- Dec 2008 to Jan -
Dec 2007)
*Note: This representation is based in whole
or in part
from data generated by the REBGV, which assumes
no responsibility for its accuracy.
|
Mortgage
Information
First
Mortgages |
Term |
Rate |
Variable |
4.10 % |
1
Year |
4.39
% |
2 year |
5.70 % |
3
Year |
5.70
% |
5 Year |
4.99 % |
7 Year |
6.35 % |
10 Year |
6.45 % |
Rates are subject to change, for a current rate
quote contact:
Gloria Purvey PFC, AMP
gloria@purvey.ca
Specialist & Trusted Mortgage Broker
Global Mortgage Corp
www. Purvey.ca
604-889-1859
fax: 604-942-1048
|
