new year’s dish: 2007 market review

You’ve gracefully recovered from the Cristal Brut. But those swirling rumours about you and your entourage on New Year’s Eve? Chances are they’ll never settle.

The rumours regarding Greater Vancouver’s real estate market in 2007 on the other hand, were put to rest with the release of the Real Estate Board of Greater Vancouver’s January 1 to December 31, 2007 numbers. And in spite of speculation about overall dips (and downright dives), residential housing sales for 2007 were the second highest ever.

According to Multiple Listings Services (MLS) data for Greater Vancouver, 2007 sales climbed for:

• apartments: up 9.1% to 16,456 units, compared with 15,088 sales in 2006
• attached units:  up 7.7% to 6,799 units, compared with 6,310 sales in 2006
• detached units: up  4.9% to 14,795, compared with sales of 14,108 in 2006

Total residential attached, detached and apartment property sales over the course of 2007? 38,050 units, a 7.2% increase from 2006. Reason enough for luckycat girls to pop open another bottle of bubbly.

Visit luckycatrealestate.com for more on real estate in Greater Vancouver, or realtylink.org for the Real Estate Board of Greater Vancouver's full report.

*This representation is based in part by data generated by the Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.