From REBGV

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 2.7 per cent in 2011 to 59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent increase compared to the 52,869 residential properties listed in 2009. Last year’s listing total was 11.1 per cent above the ten-year average for annual Multiple Listing Service® (MLS®) property listings in the region.

“It was a relatively balanced year for the real estate market in Greater Vancouver with listing totals slightly above historical norms and sale numbers slightly below,” Rosario Setticasi, REBGV president said.

Residential property sales in Greater Vancouver totalled 1,658 in December 2011, a decrease of 12.7 per cent from the 1,899 sales recorded in December 2010 and a 29.7 per cent decline compared to November 2011 when 2,360 home sales occurred.

More broadly, last month’s residential sales represent a 34.1 per cent decrease over the 2,515 residential sales in December 2009, a 79.4 per cent increase compared to December 2008’s 924 sales, and a 12.6 per cent decrease compared to the 1,897 sales in December 2007.

The overall residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 7.6 per cent to $621,674 between Decembers 2010 and 2011. However, prices have decreased 1.5 per cent since hitting a peak of $630,921 in June 2011.

“Our market remained in a balanced state for most of the year, although higher levels of demand for detached properties in the region’s largest communities caused prices in certain areas to rise higher than others,” Setticasi said. “For example, the benchmark price of a single-family detached home experienced double-digit increases in nine areas within the region over the last 12 months.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,629 in December 2011. This represents a 4.1 per cent decline compared to the 1,699 units listed in December 2010 and a 49.4 per cent decline compared to November 2011 when 3,222 properties were listed.

Sales of detached properties in December 2011 reached 630, a decrease of 18.1 per cent from the 769 detached sales recorded in December 2010, and a 30.2 per cent decrease from the 902 units sold in December 2009. The benchmark price for detached properties increased 11.2 per cent from December 2010 to $887,471.

Sales of apartment properties reached 774 in December 2011, a decline of 4.6 per cent compared to the 811 sales in December 2010, and a decrease of 32.9 per cent compared to the 1,154 sales in December 2009. The benchmark price of an apartment property increased 3.7 per cent from December 2010 to $401,396.

Attached property sales in December 2011 totalled 254, a decline of 20.4 per cent compared to the 319 sales in December 2010, and a 44.7 per cent decrease from the 459 attached properties sold in December 2009. The benchmark price of an attached unit increased 4.2 per cent between December 2010 and 2011 to $511,499.

The real estate industry is a key economic driver in British Columbia. In 2010, 30,595 homes changed ownership in the Board’s area, generating $1.28 billion in spin-off activity and 8,567 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $21 billion in 2010.

The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org

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2011 Greater Vancouver Real Estate Sales Slightly Below The Average is a post from: Vancouver Real Estate-Vancouver Homes For Sale

How’s the market in Vancouver’s waterfront neighbourhood of Kitsilano? Are prices up or down? What’s the average days on market? What’s the average sale price? Are listings and sales rising or falling? Is it a Buyers or Sellersmarket? Search for Kits homes, find home values, local real estate news.

January  saw listings up and sales down, compared to December.  Sales are 75% lower than Jan’11. Only one sale over $500,000  favouring lower end sellers. In general, Sellers need to be priced no more than 2% above market value in order to attract an offer.Similar to other Vancouver condo neighbourhoods , the market hasn’t woken up yet. A strong buyers market.

The Stats (vs. previous month)

• listings 89  (78)
• sales  7 (12)
• average days on market for solds – 38 ( 43)
• sellers moved  an average of 2% off their list price ( 1%)
• average sale price    $397,182 ($480,783)
• average $psf  $596 ($662)
• Supply in months – 12 (6.5)

How is the Market over the last year?

• HPI Price over the last year is up 6%
• Benchmark Price $472,819
• 2011 sales 398
• 2010 sales478
• 2011 townhome and half duplex sales 193 vs 203 in 2011

How is the Kitsilano Condo Market over the last 3 months?

Listings are lower and sales are way down and average sale price is out of whack because of fewer sales all at the bottom of the market.

What does it Cost Me to Buy in  Kitsilano ?

Houses from $1.3M. Towhomes from $400,000, duplexes from $700,000   and one bedroom condos from the low $300s and 2 bedrooms from the low $500s.

Buying or Selling in Kitsilano?

• I love what I do!
• I come armed with stats and graphs
• Hyperlocal information
• Strong interpersonal skills
• Educate you about the market and the process
• All coupled with decades of experience

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How’s the Vancouver Real Estate Update for Kitsilano? – Condos for Sale is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Local real estate advisor  Ozzie Jurock passes his opinion on Vancouver’s hottest neighbourhoods. The fact that Chinese investment/speculation has made White Rock, Richmond, the Westside and West Vancouver indisputably HOT in 2011.

We expect more inflow of Chinese money into these (and other areas) starting this month at Chinese New Year. What we mean by “HOT” for our purposes are investment type areas, where with a 25% down payment you can still by a condo or even a house that – over time – sees all of its carrying costs paid for by the tenant.

• We have mentioned these areas before (and have seen the Dunbar area rise by 50% in 3 years, the Main and Broadway area by 35%, North Vancouver area by 30% and Richmond by 45%
• We still like all of Vancouver, but particularly Dunbar – between 10th Ave and 34th Ave andCoal Harbour, Kitsilano
• Main and Broadway, proximity to the South Shore of False Creek, Canada Line and Sky train links … condo prices still make sense
• North Vancouver’s Lower Lonsdale is transforming into ‘Yale town North’ minus the high prices. The $250 million Pier Project has added tremendous value
• We like Richmond’s Steveston ‘Granville Island meets West Vancouver’

Join Ozzie’s upcoming Canada Landrush Conference this weekend and learn more about where to invest in Canadian real estate

Why Choose Maggie Chandler as your Realtor?

• I LOVE what I do!
• I come armed with stats and graphs
• hyperlocal info
• excellent interpersonal skills
• all coupled with decades of experience marketing vancouver condos

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Hottest Neighbourhoods – Real Estate Update in Vancouver is a post from: Vancouver Real Estate-Vancouver Homes For Sale

B.C. Supreme Court rules in favour of Bosa Properties- Vancouver Condos for Sale is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Where are the average Vancouver prices for new and resale condos compared to a year ago?

In Dec’11, the new condo price was $624,958 vs $1,069,039 in Jan’12, indicating there was a high end sale in January that put the average price out of  line.

From REBGV

Vancouver (west side) vs.Previous Year

• Jan’12
• New $1,069,039 (+33%)
• Used $586,041 (-7%)

• Jan’11
• New $799,456
• Used $630,378

• May’11
• New $763,029 (+9%)
• Used $621,177 (-1%)

A good buyers market!

Why Choose Maggie Chandler as your Realtor?

• I LOVE what I do!
• I come armed with stats and graphs
• hyperlocal info
• excellent interpersonal skills
• all coupled with decades of experience marketing vancouver condos

Keep up to date with Vancouver’s real estate news, search for homes. Review the entire Buying and Selling Process.

Please leave a comment on Facebook, at the bottom of this post

How Are Vancouver Condo Prices Compared to a Year Ago? is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Where is Vancouver’s Beach Crescent Neighbourhood?

This waterfront neighbourhood of Downtown Vancouver lies east of Granville Street Bridge and was built by Concord Pacific. It consists of 12 buildings built between 2002 and 2010.  The condo buildings surround George Waiburn Park and boast beautiful views of False Creek.

What is Special about this Vancouver Neighbourhood?

1. These 12 luxury condo buildings overlook the park and either sit on the waterfront or have unobstructed views of it. They all have concierges
2. They all have concierges and  amazing facilities including indoor pools – it’s like having your own Spa in your condo building – high end finishings
3. Incredible location – 10 minute drive to the Vancouver business district, easy access to the Skytrain, situated on the Seawall, lots of parks including dog parks and easy access to points south and east

The Stats for December 2011

• Listings 34
• Sales 3
• Average Sale Price $769,166
• Average $psf 769
• List Price/Sale Price Ratio 97%
• Average Days on Market 26

2011 vs 2010 Stats

• Sales in 2011 surpassed 2010 and they sold faster. The average sale price increased this year
• Sales 116/107
• Average Sale Price $1,179,403/$1,119,000
• Average days on market 45/50

Why Choose Maggie Chandler as your Realtor?

• I LOVE what I do!
• I come armed with stats and graphs
• hyperlocal info
• excellent interpersonal skills
• all coupled with decades of experience marketing vancouver condos

Please leave a comment on Facebook, at the bottom of this post

How is the Real Estate Market in Vancouver’s Beach Crescent Neighbourhood? Condos for Sale is a post from: Vancouver Real Estate-Vancouver Homes For Sale

BC Real Estate Prices Forecast to be Flat for Next Two Years is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Wordless Wednesdays is a post from: Vancouver Real Estate-Vancouver Homes For Sale

As a first time Vancouver condo buyer, I’d looked extensively for four months, in four different Vancouver neighbourhoods on the west side and in four different price ranges. In total I’ve viewed over 30 condos with my realtor Maggie Chandler, as well as attending many open houses on my own.

I’d originally wished to be in Kitsilano, north of 4th avenue and had an attraction to the lofts but I ended up Downtown at 1055 Richards Street.

When i viewed the remaining condos at Richards Living I became smitten with the wonderful outdoor spaces. And then a new listing came on the market which I viewed at Open House and called Maggie to take a look with me the next day. There was lots of activity and the realtor had told us she had two offers coming in. As it turned out no offers arrived and I was able to write on the following day.

The owners were investors and had moved out of town, so I assume they were highly motivated as the condo was vacant and the list price, according to the recent building sales my realtor provided for me, was under market value. I haggled hard and not only achieved a value which was below current market but the tasteful furnishings were sold to me for one quarter of their original value. I sweetened the deal with a three week closing.

Why this condo? Not only is the building of high quality, sleek interiors with detailed  finishings, and an amazing gym but it was the patio that clenched it for me. Nearly as large as the condo itself! Very unique.

View same stats for other price ranges of Vancouver condos.  Keep up to date with Vancouver’s real estate news, search for homes. Review the entire Buying and Selling Process.

Leave a comment on Facebook at the bottom of this page!

Buying or Selling your Vancouver condo?

• i come armed with stats and graphs
• hyperlocal info
• excellent interpersonal skills
• all coupled with decades of experience marketing vancouver condos

Why I Bought a Downtown Vancouver Condo in Domus – Condos for Sale is a post from: Vancouver Real Estate-Vancouver Homes For Sale

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