Special offer

Vancouver, BC Real Estate News

By Alphonse J. Quenneville
(Royal LePage Northshore)
Metro Vancouver real estate sales continued their downward trend, ending 2008 at 35.2% fewer sales than last year. The number of overall listings avaialble for sale was down 8.9% this December over last. Challenges in the global economy in 2008 have brought relief from detached home benchmark prices that had rised fro $357,770 in 2001 to $648,421 in December 2008. Detached home prices have now reached levels consistent with those of mid-2006. Detached home prices in Metro Vancouver have fallen 11.2% from December 2007, to an average benchmark price of $648,421, while listings available for sale were up 6%. The number of detached homes sold in 2008 was down 37.5% from 2007. Townhouse prices in Metro Vancouver fell by 7.4% in the past twelve months, coming in at $423,338 in December 2008....
Comments 2
By maggie chandler
(chandler realty)
The top line shows the average price of houses. The middle line is townhomes and the bottom is condos. According to the REBGV, sales decreased by 35% in 2008, versus 2007 and prices are down 15.9% for houses and 14.5% for condos and 11.6% for townhomes,  from May 2008. For Vancouver West Side, house prices are up 64% over the last 5 years. Townhomes are up 68.3% and condos are up 54%. Best value for a house in Greater Vancouver is Maple Ridge, with a benchmark price of $394,893. The most expensive is West Vancouver at $1,168,852, closely followed by Vancouver West Side at $1,165,007. Best value for a townhomes is also Maple Ridge at $300,497.Most expensive n'hood is Vancouver West at $609,623. Best value for a condo is also Maple Ridge with a benchmark price of $220,481. Most expensive...
Comments 0
By maggie chandler
(chandler realty)
The above graphs show the active listings, sales, sales volume and price ranges for sales for 2008. Active listings for the last three months have all fallen. December sales were the lowest for the year. Sales volume was lowest from April to December but all categories saw a tickup in December. Median price for Vancouver west side houses and townhouses is now below that of December 2006. For condos it is equal to December 2006. On an annual basis, the largest number of sales in houses was over $1 million. For townhomes the $500-550,000 price range saw the most activity. For condos the $350,000 to $400,00 price range saw the most activity, closely followed by the $300-350,000 and $400-450,000 price range. courtesy REBGV View my other posts on Vancouver graphs when it's time to buy or se...
Comments 0
By maggie chandler
(chandler realty)
The record-breaking real estate market cycle in Greater Vancouver, longer than normal at seven consecutive years, ended in 2008 amidst global economic challenges. The change brought relief from rising prices that saw benchmark prices escalate from $357,770 for a single family detached home in December 2001 to $648,421 by December 2008. The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties decreased 35.3 per cent in 2008 to 24,626 sales compared to 38,050 sales in 2007. Property listings for the year increased 13.9 per cent to 62,561 compared to 2007 when 54,945 new properties were listed. read the rest of this post
Comments 0
I would like to present my inaugural 'Westside Detached Stat Package', which will from now on be a weekly blog include much like my 'Downtown Attached Stat Package'. These will be joined shortly by a 'Westside Attached Stat Package', which will cover weekly detached 'sales versus listing ratios' for the Westside. This past week there were 43 new detached active listings in the Vancouver West Region. Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) new listings in your area for that period.   The 43 new detached active listings on the Westside were distributed as follows: S.W. Marine (SW) : 2Southlands (SL) : 1Shaughnessy (SH) : 5South Granville (SG) : 7Quilchena (QU) : 1Point Grey (PG) : 6Marpole (MR) : 3MacKenzie Heights (MH) : 3Kit...
Comments 0
I would like to present my inaugural 'Westside Attached Stat Package', which will from now on be a weekly blog include much like my 'Downtown Attached Stat Package'.  These will be joined shortly by a 'Westside Detached Stat Package', which will cover weekly detached 'sales versus listing ratios' for the Westside. This past week there were 185 new active listings in the Vancouver West Region with 73 falling in the Westside neighbourhoods.  Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) new listings in your area for that period.   The 95 new active listings on the Westside were distributed as follows:University (UL) : 9Shaughnessy (SH) : 1Quilchena (QU) : 6Point Grey (PG) : 9Oakridge (OA) : 3Marpole (MR) : 3Mount Pleasant (MP) : 2Kit...
Comments 0
We have compiled sales and listings statistics for the period running from January 5th to January 12th, and released them in this easy to read format!  If you have any further questions or require more detail please get in touch with us.  Things have picked up after the holiday lull through the past three weeks.Listing versus Sales update for January 5 - January 12182 new listings in the Vancouver West Region with 102 (56%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas). New Listings Per Sub-Area:    * Downtown Core: 49 (48%)    * Coal Harbour: 12 (12%)    * West End: 17 (16%)    * False Creek North: 24 (24%)TOTAL : 10227 total sales in the Vancouver West Region with 16 (59%) falling in the downtown areas.Sales Per Sub-Area: ...
Comments 0
Real Estate Board of Greater Vancouver releases December Stat Package entitled: “Slow home sales create window of opportunity.”  Thought people might be interested!  Analysts at the Board continue to do a great job. VANCOUVER, B.C. – December 2, 2008 – November reductions in home sales and prices have helped improve affordability in Greater Vancouver. However, November also saw a corresponding decrease in the number of new homes coming onto the market. In its most recent statistics release, the Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 69.7 per cent in November 2008 to 874 from the 2,883 sales recorded in November 2007. Residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 12.8...
Comments 0
By maggie chandler
(chandler realty)
Let's take a look at some condos in Vancouver's Downtown and compare their current value to what their value was in recent years. This month I found a sale in a 2 year old building on Seymour Street, 710 sq.ft. l bedroom which sold for $350,000. It sold in March  2007 for $370,000 . It registered in July 2006 for $275,000 (probably sold as a pre-sale at an earlier date).  A 662 sq.ft. one bedroom just sold for $338,000.  It sold in August ‘07 for $ 398,000. (a 15% drop)  It registered in January'07 for $286,000 (pre-sale). A 830 sq.ft. 2 bedroom in Tinseltown just sold for $390,000. It sold in May'04 for $268,000. and in June'97 for $165,000 read the rest of this post
Comments 0
By maggie chandler
(chandler realty)
Vancouver has an excellent art culture. Bill Reid is one of our most famous artists. Bill Reid 1920-1998) the renowned Master of Haida Art is being featured at Vancouver's newest public art gallery, devoted to Northwest Coastal Art, at 639 Hornby Street. His monumental works, his gold and silver jewellery, many on display for the first time. Find distinctive gifts in the Kil Sli Native Gift Shop Highlights of the exhibition include:  Bill Reid's monumental masterpiece, Mythic Messengers, a 28-foot bronze frieze, that until now has been relatively unknown.  A new monumental pole featuring the Wasgo, or Haida Sea-Wolf, carved by James Hart of Haida Gwaii, celebrating Reid, his mentor.  The Killer Whale, in bronze Raven and the First Men, in onyx Large interactive screen with 360 degree ro...
Comments 0
Scotiabank's senior economist Adrienne Warren says Canadian real estate prices will drop 10-15% nationally, with B.C., Alberta and Saskatchewan taking the brunt of the downturn., much of the runup in prices seen this decade will remain in tact. Canadian Association of Accredited Mortgage Professionals (CAAMP) report agrees with Warren that BC will suffer disproportionately in the downturn, however, because investors were more than elsewhere in Canada.  Cameron Muir of BCREA believes BC could see an upswing in housing markets as early as spring 2009. CMHC see a further drop of up to 9% in 2009 Ozzie Jurock sees increased activity in Spring and sales lower in 2009 and calls for us to start thinking positively. Re/Max said Metro Vancouver will have experienced a 33-per-cent drop in sales b...
Comments 0
By maggie chandler
(chandler realty)
British Columbia's property transfer tax is a land registration tax payable when an application is made at any Land Title Office in BC to register changes to a certificate title. Introduced in 1996. If you are a first time buyer you may be eligible for an exemption from the property transfer tax if the fair market value of the property is less than $425,000 anywhere in BC. A proportional exemption is provided for eligible residences that have a fair market value of up to $450,000 (or $25,000 above that threshold). Your lawyer or notary completes and submits the return on your behalf. The following conditions must be met to qualify for the first time home buyers' exemption: *must be a Canadian citizen or a permanent resident read the rest of this post
Comments 1
due within a certain time after acceptance of the contract. Therefore, the final acceptance date becomes important as to when the deposit is due for deposit in the brokerage's trust account. WHEN THE OFFER IS INITIALLY MADE BY BUYER it'll be open for acceptance until a certain time. There should always be a time inserted. IF SELLER ACCEPTS ALL TERMS, EXCEPT PRICE, they sign and date their acceptance and counter the price. Seller's counter-offer is open until a specific time. BUYER REVIEWS COUNTER OFFER and counters back the price, with an open for acceptance date. read the rest of this post
Comments 0
We are pleased to announce an Open House date for the townhouse at 1155 W Cordova St. in the Coal Harbour neighbourhood of Vancouver, BC. We will be presenting this amazing space in downtown Vancouver this coming Sunday, January 11th from 2pm - 4pm. 1155 W Cordova St.Listed at $1,795,000Welcome to this sophisticated luxurious 3 level 2 bedroom Townhome in the coveted 2 Harbour Green. Nothing but the finest finishes, and materials were used throughout this 1887 sq ft residence including couture kitchens by Snaidero.MORE And please visit http://www.susankeevil.com for all your Vancouver real estate questions, concerns, and commentary! Thanks and Happy New Year! Susan
Comments 0
We are pleased to announce an Open House date for the townhouse at #101 1488 Hornby St. in the False Creek North neighbourhood of Vancouver, BC.  We will be presenting this amazing space in downtown Vancouver this coming Sunday, January 11th from 2pm - 4pm.   #101 1488 Hornby St.Listed at $749,800 WOW...need a large living space? Then look no further than the TERRACE at PACIFIC PROMENADE. With 1600 square feet of living space, 12 foot ceilings and floor to ceiling windows makes for an extremely bright and cozy home.MORE And please visit http://www.susankeevil.com for all your Vancouver real estate questions, concerns, and commentary! Thanks and Happy New Year! Susan
Comments 0
We have compiled sales and listings statistics for the holiday period running from December 29th - January 5th, and released them in this easy to read format!  If you have any further questions or require more detail please get in touch with us.  Please remember the holidays are a traditionally slow period for us, and thus figures are usually lower then annual averages. Listing versus Sales update for December 29 - January 5 55 new listings in the Vancouver West Region with 35 (64%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas). New Listings Per Sub-Area:     * Downtown Core: 16 (46%)     * Coal Harbour: 11 (31%)     * West End: 1 (3%)     * False Creek North: 7 (20%) TOTAL : 35 26 total sales in the Vancouver West Region wi...
Comments 0
We have compiled sales and listings statistics for the holiday period running from December 15th - December 29th, and released them in this easy to read format!  If you have any further questions or require more detail please get in touch with us.  Please remember the holidays are a traditionally slow period for us, and thus figures are usually lower then annual averages. Listing versus Sales update for December 15 - December 29 69 new listings in the Vancouver West Region with 45 (65%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas). New Listings Per Sub-Area:     * Downtown Core: 21 (47%)     * Coal Harbour: 5 (11%)     * West End: 11 (24%)     * False Creek North: 8 (18%) TOTAL : 45 53 total sales in the Vancouver West Regi...
Comments 11
By Mike Stewart Vancouver
(Century 21 In Town Realty)
Hi All,   I am proud to introduce my Vancouver Real Estate Video Blog! This blog is primarily dicsusses Vancouver Real Estate, but also covers politcis and economics as it relates to real estate.   I'd love to hear your thoughts!
Comments 0
By D'Arcy Harris
(The Harris Group - Real Estate Advisors)
Or is it the Calm Before the Storm? This could very well be the best time to buy in 20 years.  It could also be the worst.  It's tough to know isn't it?  The talking heads all clamor for the headlines, and the more dramatic the better.  Depression, poverty, war, economic meltdown, credit crunch and armageddon.  Seeing through the BS is sometimes hard, and the more you read the news, the more paranoid and scared you'll be.  But in my experience, the news is more entertainment than reality (Ask a journalist to explain the credit crunch...heck, ask an economist for that matter!).  All I can do is try to make it work for me and my clients within the present circumstances.  And real estate being a long term investment, it tends to stretch my viewpoint.  So what am I doing?  What are my clien...
Comments 0