$8 - Friday, February 28, 1997 — North Shore News

January sales
jumpstart ’97

JANUARY Multiple Listing Service
(MLS) sales started the year with
strong indicators that the real estate
market in the year ahead should be
great for buyers and sellers alike.

Strong January sales were reflected by a
28% increase in all housing categories
(detached, attached and apartments} over
January 1996. There was a total of 1858 units
sold in January, up from 1,450 last year.

A slight drop in new listings for the month
is typical in January, but active listings are acti-
ally up five percent over last year.

“January is usually a stow month for sales,”
says Board president-elect Glenn Temes. “But
we have beers surprised to see January statistics
reflect a very buoyant marker when we usually
see a slower acavity coming off the holiday sea-
son. We feel 1997 will continue to be an excel-
Jent meckst. Sales in the mid price ranges is
where me activity is strongest, and we expect
to see activity level move into the higher
Price ra.uc+ as the year progresses.”

There were 942 detached home sales start-
ing off 1997 with a 20% increase over January
1996,

New home sales were virtually unchanged
compared to fast January while the resale mar-
ker leaped ahead by 24%. Average prices for
detached lomes were down but this probably
accounts for the spectacular rise in sales of
townhouses and apartment sales at the lower
end of the price spectrum.

Attached unit (rawnhome) sales rose 32%
over sales a year ago with 315 saics in January
1997 compared to 236 fast January, New list-
ings remained virtually the same with the total
number of active listings down about five per-
cent, Sales of new attached units also rose in
January by 11% with the resale market showing
a strong 237 sales ar a 42% increase over last
year at this time.

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Sales were brisk in the apartment category
in January with a toral 61) sales compared to
434 sold a vear ago in January, a 40% increase.

New apartment sales rose 22% while resale
units rose 48% from January 1996. The num-
ber of new apartment listings remained virtual-
ly unchanged.

On Vancouver's Westside detached home
sales were down 10% from January 1996 while
the number of new listings increased by three
per cent.

The median selling price for a detached
home on Vancouve, west side last month is
$645,000 compared to $673,800 at vear end
1996. Active hstings for detached homes on
the west side show a 31% increase over January
fast year. Attached sales on the west side were
aise down about 19% i january while the
number of new fistings increased 44% over
January last year.

West side apartment sales were brisk in
January with [S40 sales recorded, a 67%
increase over the 110 sales recorded in fannary
1996.

New listings for west side apartments were
up 22% while prices remained steady.

Other areas of note around the Greater
Vancouver area are North Vancouver and
Vancouver East, which had brisk sales in
January. Richmond detached and attached
sales were down slightly from January 1996
and median selling prices in all three categories
were down slightly trom vear end 1996 inedi-
an prices,

While sales in Vancouver East were up ip
January in all three categories, median sefiing
prices were also down shphtly from year end
1996 levels.

January 1997 sales in Burnaby were up
slightly trom a year ago at the same time while
the median selling price in detached and apart
ment units actually dropped slightly from year
end 1996 levels.

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