THE NUMBER of single family homes sold through the Multiple Listing Service in the third quarter this year increased substantially over the same quarter in 1984,

The Real Estate Board of Greater Vancouver reports 3,508 single family home sales from July 1 through September 30, a 60.5 per cent increase over the 2,123 sales which occurred in the same quarter last year and 129 sales higher than the se- cond quarter’s 3,379 sales.

Condominium sales more than doubled from 408 in the third quarter of 1984 to 851 in the third quarter of this year. This number is comparable to the 862 units sold in the second quarter of 1985, indicating a strong demand for the many new condominium units on the market.

The Real Estate Board reports quarterly figures by area with four price ranges in the spread from the lowest to highest price sale, produc- ing four ‘‘median,”’or middle figures to more accurately describe each area’s market fer all levels of buyers.

While there appear to be some fluctuations in median values, these are often caus- ed by changes in the lower and upper price in the range being quoted, which has a

direct effect on the middle value.

Half the sales in that range ate below the median and half are above, in- dicating available properties at acceptable prices for all purchasers. Fluctuations in median values reflect the changing stock available and changing public buying pat- terns.

While some observers note a dwindling supply, the Multiple Listing Service reg- isters an increase in listings this year over the first nine months of last year.

Though the strong de- mand has also increased the sales to listings ratio from 35 per cent last year to 46 per cent this year, there were still some 9,000 properties available on the board's Multiple Listing records at the end of September.

The most active areas in the third gquarier where number of sales rose substantially were Co- quitlam, with 301 sales this year compared to 180 last year,

Vancouver’s east side rose from 422 sales last year to 598 this year and Vancouver West and Richmond almost doubled their 1984 sales to 409 and 430 respectively.

The Real Estate Board of Greater Vancouver does not

Barbara Reid

985-8062 Res. 986-9321 Off.

645-3334 Pacer.

report monthly or quarterly sales in housing types because it requires full study of each property’s facilities (lot size, parking spaces, number of rooms, square footage, bathrooms) to compare accurately, and these amenities, coupled with a buyer’s needs, deter- mine the market value of each individual property.

Fluctuations in medians are often found to mean that the ‘‘median’’ house, pic- tured in the board’s quarter- ly report, is somewhat dif- ferent than the median house of the previous quarter.

Total sales for the entire area covered by the board to the end of September are now 9,694 single family homes for 1985, compared to 7,371 in the same nine months last year, a 31 per cent increase. Condominium transactions show the same 31 per cent increase, rising from 1,933 last year to 2,529 by September 30, 1985.

The simplistic average price per unit for all housing sold stood at $314,058 in September, 1985, compared to $214,070 in 1984, in- dicating a generally stable market with active sales due to continuing good stock in all areas, coupled with re- asonable mortgage rates for buyers.

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