Tuesday, January 17, 2012

December 2011 Metro Vancouver Real Estate Update

 

 

The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand.

  

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009.

 

Last year’s home sale total was 6.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

 

The number of residential properties listed for sale on the MLS® in Greater Vancouver increased...

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Monday, December 5, 2011

August 2011 Metro Vancouver Real Estate Market Update

 

August marked the third consecutive month that home sale activity in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region has exceeded the 10-year norm every month since the beginning of the year.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,378 in August. This total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third lowest total for August in the last 10 years.

 

“MLS® statistics continue to indicate that we’re in a balanced...

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Monday, December 5, 2011

July 2011 Metro Vancouver Real Estate Market Update

 

While the balance between home buyer and seller activity remains in an equilibrium range in the Greater Vancouver housing market, last month’s home sale total was below the 10-year average for July.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,571 in July, a 14 per cent increase compared to the 2,255 sales in July 2010 and a 21.2 per cent decline compared to the 3,262 sales in June 2011.


“We’re seeing less multiple offer situations in the market today compared to the last few months, but our members tell us that homes priced competitively continue...

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Friday, July 29, 2011

New property listed in North Coquitlam, Coquitlam

Property Photo: 214 2978 BURLINGTON DR in Coquitlam
I have listed a new property at 214 2978 BURLINGTON DR in Coquitlam.
Great two-bedroom unit at the Burlington. Features over 1,000 SqFt, kitchen with island, laminate floors throughout, oversized balcony. Excellent building located within walking distance to Coquitlam Centre, Aquatic Centre, DouglasCollege and WestCoast Express.
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Saturday, July 16, 2011

June 2011 Metro Vancouver Real Estate Market Update

 

Home sellers outpaced buyers on Greater Vancouver’s Multiple Listings Service® (MLS®) in June, drawing the market back toward balance this summer.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 3,262 in June, a 9.8 per cent increase compared to the 2,972 sales in June 2010 and a 3.4 per cent decline compared to the 3,377 sales in May 2011.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,793 in June. This represents a 4.5 per cent increase compared to June 2010 when 5,544 properties were listed for sale on the MLS® and a 2.3 per cent decline compared to the 5,931...

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Saturday, June 18, 2011

June 2011 Mortgage Update - What's Happening with Mortgages?

The prime rate is currently at 3% and is expected to stay at this level for a bit longer than previously predicted.  Major banks had recently announced a drop of their 5 year rates to 5.39%....however, the best 5 year rate you can currently get is 3.59%.  You can a variable rate mortgage as low at prime minus 0.9%...which means at rate of 2.1%!  How crazy is that!

 

If you are looking to a buy a home....talk to a mortgage broker.  If you are a current homeowner....now is the time to talk to your bank or mortgage broker to see if you can refinance to today's low rate and save yourself some money.

 

Check out this video from Rob MacDonald with Invis, Canada's Mortgage Experts.  Rob gives his report and insights...

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Saturday, June 18, 2011

May 2011 Greater Vancouver Real Estate Market Update

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,377 in May 2011, a 7 per cent increase compared to the 3,156 sales in May 2010 and a 4.7 per cent increase compared to the 3,225 sales in April 2011.

 

Looking back further, last month’s residential sales are 8.1 per cent below the ten-year average for sales in May. The three highest selling Mays ever recorded occurred in 2005, 2006 and 2007 when sales exceeded the 4,000 mark each year.

 

“With a sales to actives listings ratio of 23 per cent, conditions continue to favour sellers in the Greater Vancouver housing market, but activity has eased away...

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Saturday, June 18, 2011

April 2011 Greater Vancouver Real Estate Update

 

Greater Vancouver saw a typical, solid month of residential home sales on the Multiple Listing Service® (MLS®) in April, in contrast to the near record pace witnessed in the two preceding months.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011.

 

Looking back further, last month’s residential sales represent an 8.8 per cent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a...

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Saturday, June 18, 2011

March 2011 Greater Vancouver Real Estate Market Update

 


 

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...

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Wednesday, April 20, 2011

New property listed in Coquitlam West, Coquitlam

Property Photo: 621 REGAN AVE in Coquitlam
I have listed a new property at 621 REGAN AVE in Coquitlam.
The moment you walk in you can feel the quality in this immaculate 1/2 duplex in West Coquitlam. This home is built by a European builder and is loaded with features: 2x6 construction throughout, vaulted ceilings, 2 F/P, oak H/W floors,granite countertops, granite window sills, crown moulding throughout, bright family room with large windows and 3 skylights, radiant infloor heating, skylights throughout, 4ft crawl space, large fenced yard with patio, double garage off back lane and bonus 1 bdrm suite with separate entry.
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Friday, March 18, 2011

Greater Vancouver Real Estate Market Report for February 2011

 

 

Demand for detached homes continues to be strong across Greater Vancouver, with particularly high sales volumes occurring in Richmond and Vancouver Westside.

 

For the past two months, the number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) in Greater Vancouver outpaced the 10-year average in both categories. From a historical perspective, February’s 3,097 homes sales outpace the 2,742 home-sale average recorded in the region over the last ten years.


“We saw an increase in demand across our region last month as more buyers entered the market in advance of the spring season,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver...

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Thursday, March 10, 2011

New property listed in Citadel PQ, Port Coquitlam

Property Photo: 2034 SASKATCHEWAN AVE in Port Coquitlam
I have listed a new property at 2034 SASKATCHEWAN AVE in Port Coquitlam.
This well-cared for Lower Citadel home features 3 bdrms, 2.5 baths. The living room boasts bay windows, a gas fireplace & vaulted ceilings. The kitchen has oak cabinets, tiled backsplash, newer stainless steel appliances & a garden window.There is a huge family room with gas fireplace & sliding doors leading to a large deck to the backyard. The basement features a huge rec room, storage room & a large crawl space. Other features of this home are tiled floors, crown moulding throughout, 2 skylights & plenty of ceiling fans. The home is situated within easy access to the Mary Hill Bypass.
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Monday, February 14, 2011

BC Housing Market Continues Normalization Trend

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 7 per cent in January from December 2010, on a seasonally adjusted basis.
 
Compared to January of last year, MLS® residential unit sales were down 10 per cent to 4,137 units. The average MLS® residential price rose 11.5 per cent to $548,183 in January compared to the same month last year.
"Consumer demand continues to normalize alongside overall economic conditions,” said Cameron Muir, BCREA Chief Economist. “However, the pace of growth in home sales experienced since last summer is likely to moderate in the coming months as tighter credit conditions and upward pressure on mortgage interest rates impacts...
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Tuesday, January 18, 2011

Review of Metro Vancouver Real Estate from 2000 to 2010

Real estate in the Metro Vancouver area has had quite a ride over the last 10 years.  The Real Estate Board of Greater Vancouver has put out a video summarizing the Metro Vancouver real estate market from 2000 to 2010.
 
Some of the highlights are:
 
2003, 2005, 2007 recorded the most number of properties sold
 
REBGV Highest Selling Years
 
In 2000, the buyers favored detached homes over condos.  However, in 2004, more condos were sold compared to detached homes and that trend has continued into 2010 and will continue into the future.
 
REBGV Condos vs Detached 2000
 
REBGV Condos vs Detached 2004
 
REBGV - Condos vs Detache 2010
 
Detached home prices increased 115% from $345,000 in 2001 to $742,000 in 2008
 
Condo prices increased 143% from $155,000 to $378,000 in 2008
 
Our market is 2008 was...
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Friday, January 14, 2011

MLS® Residential Sales Stats for BC

BC MLS Residential SalesThe British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 12 per cent to 74,640 units in 2010.
 
The annual average MLS® residential price rose 8.5 per cent to a record $505,178 in 2010.
 
"Tighter credit conditions and expended pent-up demand curbed home sales during the first half of 2010,” said Cameron Muir, BCREA Chief Economist. “However, low mortgage interest rates and improved economic conditions buoyed home sales in the latter half of the year.”
 
MLS® residential unit sales declined 40 per cent January through July before climbing 43 per cent by the end of the year, on a seasonally adjusted basis.
 
"The inventory of homes for sale...
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