The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province continued to climb higher in March. Compared to March of 2010, MLS® residential unit sales increased 11.5 per cent to 8,600 units. The average MLS® residential price rose 15 per cent to $594,157 in March compared to the same month last year.

"We continue to observe a two-speed market in BC, with surging consumer demand in Metro Vancouver overshadowing more moderate demand in other regions," said Cameron Muir, BCREA Chief Economist. "Vigorous consumer demand drove Greater Vancouver to its most active March since 2004, while the Fraser Valley had its strongest March in four years. Conversely, sales activity in other BC markets is expanding at a pace more inline with overall economic growth."

Year-to-date, BC residential sales dollar volume increased 21 per cent to $11.14 billion, compared to the same period last year. Residential unit sales increased 4.7 per cent to 19,147 units. The average MLS® residential price rose 15.4 per cent to $582,021 over the same period.

New search features on Vancouver-Properties.ca mobile site

It's my pleasure to announce a couple of new search features on vancouver-properties.ca mobile website. There are two additional search features added to the existing Area quick search under Listing Search link on Home page of mobile.vancouver-properties.ca:

MLS® number search gives you ability to quickly search and view specific active listing by using its MLS® number.

Address search provides you with an option to search for active listings by civic address. This feature is extremely useful if you are wondering what is available for sale in particular condo building downtown or lower mainland.

Please feel free to comment on this or if you would like to see some other features added to make the website more usable.

The B.C. government announced on April 8, 2011 the process by which British Columbians will cast their ballot in the HST referendum vote this summer.

Key Dates:

• Monday, June 13 – Elections BC starts mailing out referendum ballots for the HST to all registered voters.
• Friday, June 24 – Majority of British Columbians have received the ballot.
• Friday, July 8 – Last day for unregistered voters to request a ballot from Elections BC.
• Friday, July 22, 4:30 p.m. (local time) – Completed ballots must be received by mail by Elections BC or in person by a Service BC centre.

Elections BC, a non-partisan office of the legislature, will conduct the referendum.

British Columbians who are not registered voters for a provincial election, or who have moved since the last election and have not updated their voter record, will need to request a ballot from Elections BC.

It will take several weeks for Elections BC to count the ballots. Results of the vote are expected in August.

The referendum question will be:

“Are you in favour of extinguishing the HST (Harmonized Sales Tax) and reinstating the PST (Provincial Sales Tax) in conjunction with the GST (Goods and Services Tax)? Yes/No.”

Quote:

Attorney General Barry Penner –

“Most British Columbians will have their ballot by June 24 and can begin weighing this very important decision. Voters will need to remember that, to be counted, they must make sure their ballots are mailed in time to be received by Elections BC before the close of voting at 4:30 p.m. local time on Friday, July 22 or deliver their completed ballot to a Service BC centre by the same deadline.”

Learn More:

For more information on the HST, visit: www.hstinbc.ca

For more information on Elections BC, visit: www.elections.bc.ca

Activity in the Greater Vancouver housing market continued to strengthen in March with both the number of homes sold and added to the region’s Multiple Listing Service® (MLS®) reaching near record levels.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 4,080 in March 2011. This represents a 31.7 per cent increase compared to the 3,097 sales recorded in February 2011, an increase of 30.1 per cent compared to the 3,137 sales in March 2010 and an 80.1 per cent increase from the 2,265 home sales in March 2009. The all-time sales record for March occurred in 2004 when 4,371 transactions were recorded.

"Our market has had a very strong start to the spring season," Rosario Setticasi, REBGV president said. "With home sales above 4,000 and nearly 7,000 home listings added to the MLS® in March, it’s clear that home buyers and sellers view this as a good time to be active in their local housing market."

New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,797 in March 2011. This represents a 3 per cent decline compared to March 2010 when 7,004 properties were listed for sale on the MLS®, an all-time record for March. Compared to February 2011, last month’s new listings total registered a 19.4 per cent increase.

At, 13,110, the total number of residential property listings on the MLS® increased 9.9 per cent in March compared to last month and declined 3 per cent from this time last year.

"Conditions favour sellers at the moment, but we’re seeing differences in home-price trends and overall activity depending on the region and property type," Setticasi said.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.4 per cent to $615,810 in March 2011 from $584,435 in March 2010.

Sales of detached properties on the MLS® in March 2011 reached 1,795, an increase of 34.4 per cent from the 1,336 detached sales recorded in March 2010, and a 100.1 per cent increase from the 897 units sold in March 2009. The benchmark price for detached properties increased 8.3 per cent from March 2010 to $866,806.

Sales of apartment properties reached 1,622 in March 2011, a 29.6 per cent increase compared to the 1,252 sales in March 2010, and an increase of 66.2 per cent compared to the 976 sales in March 2009. The benchmark price of an apartment property increased 2.1 per cent from March 2010 to $403,885.

Attached property sales in March 2011 totalled 663, a 20.8 per cent increase compared to the 549 sales in March 2010, and a 69.1 per cent increase from the 392 attached properties sold in March 2009. The benchmark price of an attached unit increased 3.6 per cent between March 2010 and 2011 to $511,039.