Do Cranes and Champagne Define Vancouver Real Estate?
by Maggie Chandler on July 6, 2012
in How's The Market
Do cranes and champagne define Vancouver real estate? As employment in Vancouver increases we see more cranes popping up, indicating an improved economy and more buyers for pre-sale condos and champagne to celebrate your new home purchase! Vancouver’s property market is proving to be more resilient than many buyers wish for. The average sale price for west side homes and townhomes in June ticked up a bit whilst condos softened a bit, showing average sale price for homes down 4.7% over the last year, townhomes up 17% and condos down 4.3%. Listings are now decreasing and sales remain below the 10 year average.
Which Type of Vancouver Property Performed the Best Over the Last Year?
Townhomes! These make sense for baby boomers who are trading down and for younger buyers who cant afford houses. Vancouver average house price now $2,402,238 vs $2,520,213 a year ago, peaking at $2,790,531 in Dec’11. Townhomes at $1,001,001 compared to $833,254a year ago and condos sit at $600,964 vs $627,761 a year ago.
In fact, at $810psf Vancouver house prices are equal Jun’11. At $648psf, townhomes prices are equal to a year ago. At $672psf Vancouver condo prices are also equal to a year ago. A balanced market is when sales to active listings ratio is between 15 and 20. Currently it’s moved into a buyers market at 13. Attention buyers! Will prices remain squishy or decrease further?
Why Hire a Hyperlocal Vancouver Realtor?
I keep restating that the Vancouver property market is doing different things in different neighbourhoods, in different price ranges, in different property types. When you hire me as a Vancouver Buyer or Seller agent I come armed with stats and graphs, hyperlocal info and decades of experience. I am your Vancouver real estate condo realtor!
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WELCOME! And thanks for checking out my site, and wanting to know a little bit about me.
I LOVE what I do, and that’s helping home buyers and home sellers in the waterfront condo neighbourhoods of Vancouver and I’ve been doing just that for nearly 30 years, so I’ve really gotten to know this market like the back of my hand. In fact I’ve seen Vancouver’s neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the West End and now the Olympic Village being built and I have an in depth knowledge of these neighbourhoods. My interest in Vancouver’s history combines with my interest in the changes and growth of its waterfront neighbourhoods. If you see me walking on the seawall, playing tennis or boating, say hello!
The city of Vancouver and its neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the Olympic Village and the West End have been put on the world map with its dynamic growth, international immigration, hosting the 2010 Winter Olympics, amazing world class restaurants, geographical beauty and quality of life. Consistently voted the Best City in the World to live, you can find great shopping, sports and entertainment in Vancouver.
I assist first time and trade up home buyers, investors and vacation home buyers, as well as first time and trade up home sellers, investors and vacation home sellers with the purchase and sale of houses, townhouses and condominiums.
I come armed with stats and graphs and an extensive knowledge of market activity, with attention to detail that will give you piece of mind that I’m working in your best interest, I am a hard working, detail oriented, diligent individual with strong interpersonal skills, patience and a high level of integrity . My goal is to make the home buying and the home selling a fun trip with low stress and I use today’s technology to make every real estate transaction as smooth as possible by clearly answering your questions, providing expertise and offering a savvy opinion.
Providing trustworthy real estate services in the Vancouver area for over 30 years
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Do cranes and champagne define Vancouver real estate? As employment in Vancouver increases we see more cranes popping up, indicating an improved economy and more buyers for pre-sale condos and champagne to celebrate your new home purchase! Vancouver’s property market is proving to be more resilient than many buyers wish for. The average sale price for west side homes and townhomes in June ticked up a bit whilst condos softened a bit, showing average sale price for homes down 4.7% over the last year, townhomes up 17% and condos down 4.3%. Listings are now decreasing and sales remain below the 10 year average.
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