Wednesday, April 11, 2012 Vancouver Real Estate Market Update Newsletter April 2012by Ben Chimes on Wed, Apr, 11, 2012 09:54 PM
|
|
Market Update
April 2012
As expected, March showed further growth in activity as we near the peak of the Spring market. Active listings are up across all markets, though not as significantly as some may have expected. Sales activity was also up in most markets, with the exception of the Westside, which saw a slight drop in activity in both the attached and detached markets. Downtown showed the largest jump in activity with sales up 43.8% over last month. Median pricing remained relatively flat, though a drop off of almost 8% was noted in the Westside detached market.
The hottest market segments last month were:
- Any detached home on the Eastside under $1.2m
- The sub-$1.5m Westside detached market
- Virtually all detached North Van detached homes between $700k and $1.6m
- Entry level downtown condos under $400k
- Higher end North Van condos/townhomes between $800-900k
The next two months should have plenty of Buyer activity, with many looking to use the 2.99% rates that are locked in for the next 90 days. Looking forward to a good Spring (and good spring weather for showings and tours)!
Ben
|
|
|
|
Featured Listings
218 - 237 East 4th Ave.
- SOLD! Offered at $365,000
- Live/Work Loft Space
- 737 Sq Ft
- In the Artworks Building just off the Main St. corridor
- One Parking Stall
More Details See All Listings
|
|
1906 - 120 Milross ave.
- SOLD! Offered at $859,000
- 2 Bedrooms, 2 Bathrooms
- 1359 sq ft
- Panoramic Views of False Creek to the North Shore
More Details See All Listings
|
|
12-960 W13th ave.
- SOLD! Offered at $638,000
- 2 Bedrooms, 2 Bathrooms
- 982 Sq Ft
- Upscale renovation and a 250 sq ft private patio with garden
More Details See All Listings
|
|
|
|
|
|
|
Friday, March 4, 2011 Vancouver Real Estate Market Update Newsletter March 2011by Ben Chimes on Fri, Mar, 4, 2011 04:21 PM | Market Update With Spring just around the corner (thank goodness!), we are entering into what is typically the busiest season of the Vancouver real estate market. As the sun comes out, so too it seems do the buyers and sellers. Often in droves. And I have little reason to believe that this year will be much different.
February saw the continuation of the trends we saw in January, with active listings and sales volume climbing across the board. Vancouver West led the sales charge with a 60% increase in attached sales and a 69% increase in detached sales compared with the January numbers. Only the North Vancouver attached market showed a decline in sales, with a drop of almost 28%. A little surprising given the rest of the market data, but we will monitor this trend through March to see if it was just an aberration.
Average sales price for both attached and detached homes in Vancouver East slipped slightly in February, while Vancouver West attached homes dropped almost 13%. Vancouver West detached prices saw a slight increase last month. Downtown prices climbed almost 8%, while North Van showed slight price increases in both categories.
We still haven't seen the influx of inventory we have been expecting, but let's see what March brings. I suspect that many of the people who have been talking about listing their homes for sale will take action this month. And for buyers, now that all the major banks have announced that conventional mortgages will be subject to the 30 maximum amortization period as well as the unconventional mortgages as of March 17, 2011. If you need that 35 year mortgage, don't forget that you'll need a firm contract before the 17th!
I look forward to your questions and comments,
Ben |
|
|
| Featured Listings|
|  4273 W. 10th Ave- FOR SALE Offered at $1,499,000
- 5 Bedroom & Office, 3 Bathroom
- 2,695 sq ft on 50 X 115ft lot
- Mortgage Helper
More DetailsSee All Listings |
|  #2101 - 188 Keefer- FOR SALE Offered at $509,000
- 1 Bedroom, 2 Bathroom
- 835 sq ft
- Views of False Creek, City & Mountains
More DetailsSee All Listings |
|
|
| |
|
Thursday, December 2, 2010 December 2010 Market Update Newsletterby Ben Chimes on Thu, Dec, 2, 2010 04:41 PM |
| | What's Going on with the market?
Well, it's official. The holiday season is upon us. I'm not sure about you, but activity around our office seemed to screech to a halt as soon as December hit. With festive plans filling social calendars all around, 'tis the season to be distracted! I would like to take this chance to wish all of you a very merry holiday season and hope that you find some time to kick back and enjoy a well deserved break.
Taking a look at the real estate stats this month, the predominant theme is one of falling inventory. All of the attached markets (Downtown, Westside & Eastside) and detached markets (Westside and Eastside) displayed lower active listings in November with most markets showing their 3rd or 4th consecutive month of decline. At any other time of the year this statistic might be alarming, but given the traditional winter slowdown much of the declining inventory was to be expected.
November showed slightly improved sales volumes, up 7.4% in Greater Vancouver, compared to October 2010. Sales volume did remain behind last year's at 18.6% lower than November 2009. Average house prices in Greater Vancouver, according to the Housing Price Index, are up 4.1% since November last year. Breaking it down further, detached homes on the both the Westside and Eastside showed growth this month, while all of the attached markets saw prices fall. This is primarily due to the lack of inventory and huge demand present in the detached market at the moment. I suspect that both the attached and detached markets will level off to end the year.
Overall, I think it is pretty safe to say that we are enjoying the longest stretch of balance the Vancouver market has seen in years. Homes that are priced well are selling and buyers have the opportunity to explore their options before purchasing. Let's hope it lasts a little while longer! Happy holidays and make it a fabulous end to 2010,
Ben
 Vancouver West - Attached Statistics |
Read more Vancouver West - Attached Graph |
Read more Top of page Vancouver West - Detached Statistics |
Read more Vancouver West - Detached Graph |
Read more Top of page Vancouver East - Attached Statistics |
Read more Vancouver East - Attached Graph |
Read more Top Of Page Vancouver East - Detached Statistics |
Read more Vancouver - East Detached Graph |
Read more Top Of Page Vancouver Downtown Statistics |
Read more 
Read more Top Of Page |
| |
|
| |
