In The Real Estate Board of Greater Vancouver's latest report, President Ray Harris, said, "This is traditionally a time of year with low inventory, so it's a good time to list your home for sale if you want to face less competition in the market place."  

We agree! Buyer demand is strong, and with inventory levels pacing well below last year, quality product will sell extremely fast.

Here are some of the November 2014 Real Estate Sales highlights:

• We saw an 8.4% increase in overall residential property sales compared to November 2013, with detached single family homes performing 9.3% higher than November 2013 and 60..9% higher than November 2012
• Sales were 6.9% above the 10-year-sales-average for November
• 5.7% increase in the MLS ® Home Price Index composite benchmark price for all residential properties in Metro Vancouver, while detached single family homes grew by 7.9%
• Home prices across the region have experienced steady gains in 2014, 3%-7% depending on property type

Read your full report here:

November 2014 Complete REBGV Stats Package

If you have any questions on how to capitalize on the Winter real estate trends, don't hesitate to call! 604.644.3634

Warmest wishes for the holiday season.

Dodi

The latest report from The Real Estate Board of Greater Vancouver is here!  We continue to see a very active Seller's market for single family homes in North Vancouver, and for North Vancouver attached properties sales continued to improve for sellers.

If you have any questions on how to capitalize on the current market trends, give us a call!  Dodi and Rachael 604.644.3634

VANCOUVER, B.C. – November 4, 2014 – Home sales in the Metro Vancouver* housing market continue to outpace long-term averages for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,057 on the Multiple Listing Service® (MLS®) in October 2014. This represents a 14.9 per cent increase compared to the 2,661 sales in October 2013, and a 4.6 per cent increase over the 2,922 sales in September 2014.

Last month’s sales were 16.6 per cent above the 10-year sales average for October. “We’ve seen strong and consistent demand from home buyers in Metro Vancouver throughout this year. This has led to steady increases in home prices of between four and eight per cent depending on the property,” said REBGV president Ray Harris.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,487 in October. This represents a four per cent increase compared to the 4,315 new listings in October 2013 and a 14.7 per cent decline from the 5,259 new listings in September. The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,851, a 9.2 per cent decline compared to October 2013 and a 6.6 per cent decrease compared to September 2014.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,000. This represents a six per cent increase compared to October 2013.

“Detached homes continue to increase in price more than condominium and townhome properties. This is largely a function of supply and demand as the supply of condominium and townhome properties are more abundant than detached homes in our region,” Harris said. Sales of detached properties in October 2014 reached 1,271, an increase of 19.1 per cent from the 1,067 detached sales recorded in October 2013, and a 60.9 per cent increase from the 790 units sold in October 2012. The benchmark price for detached properties increased 7.9 per cent from October 2013 to $995,100

Sales of apartment properties reached 1,268 in October 2014, an increase of 15.5 per cent compared to the 1,098

sales in October 2013, and a 57.9 per cent increase compared to the 803 sales in October 2012. The benchmark price of an apartment property increased four per cent from October 2013 to $380,200.

Attached property sales in October 2014 totalled 518, a 4.4 per cent increase compared to the 496 sales in October 2013, and an 53.3 per cent increase over the 338 attached properties sold in October 2012. The benchmark price of an attached unit increased 4.7 per cent between October 2013 and 2014 to $479,500.

Read the full report here: REBGV October 2014 Sales

* Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West

Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam,
Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

Thursday, October 2, 2014

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,922 on the Multiple Listing Service® (MLS®) in September 2014. This represents a 17.7 per cent increase compared to the 2,483 sales in September 2013, and a 5.4 per cent increase over the 2,771 sales in August 2014.

Last month’s sales were 16.1 per cent above the 10-year sales average for the month and rank as the third highest selling September over that period.

 “September was an active period for our housing market when we compare it against typical activity for the month,” Ray Harris, REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 5,259 in September. This represents a 4.6 per cent increase compared to the 5,030 new listings in September 2013 and a 33.5 per cent increase from the 3,940 new listings in August. Last month’s new listing total was 0.4 per cent above the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,832, an 8 per cent decline compared to September 2013 and a 0.4 per cent increase compared to August 2014.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $633,500. This represents a 5.3 per cent increase compared to September 2013.

“Gains in home values are being led by the detached home market. Condominium and townhome properties are not experiencing the same pressure on prices at the moment,” Harris said.  “Individual trends can vary depending on different factors in different areas, so it’s important to do your homework and work with your REALTOR® when you’re looking to determine the market value of a home.”

Sales of detached properties in September 2014 reached 1,270, an increase of 24.1 per cent from the 1,023 detached sales recorded in September 2013, and a 113.8 per cent increase from the 594 units sold in September 2012. The benchmark price for detached properties increased 7.3 per cent from September 2013 to $990,300.

Sales of apartment properties reached 1,188 in September 2014, an increase of 16.7 per cent compared to the 1,018 sales in September 2013, and a 75.7 per cent increase compared to the 676 sales in September 2012. The benchmark price of an apartment property increased 3.3 per cent from September 2013 to $378,700.

Attached property sales in September 2014 totalled 464, a 5 per cent increase compared to the 442 sales in September 2013, and an 88.6 per cent increase over the 246 attached properties sold in September 2012. The benchmark price of an attached unit increased 4.2 per cent between September 2013 and 2014 to $477,700. 

Get your full report here: Metro Vancouver Real Estate Sales September 2014 

In keeping with my commitment, to keep you informed on the latest real estate happenings in our markets, here are the August 214 sales reports for Metro Vancouver. Once again our North Shore micro markets prerformed welll. Read on for the full detail or feel free to call me with any questions.

604.644.3634

Regards Dodi

Wednesday, September 3, 2014

Real Estate Board of Greater Vancouver

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,771 on the Multiple Listing Service® (MLS®) in August 2014. This represents a 10.2 per cent increase compared to the 2,514 sales recorded in August 2013, and a 9.5 per cent decline compared to the 3,061 sales in July 2014.

“Activity this summer has been strong but not unusual for our region,” Ray Harris, REBGV president said. “The volume of home sales has been higher than we’ve seen in the last three years, yet below the record-breaking levels of the past decade.”

Last month’s sales were 4.3 per cent above the 10-year sales average for August of 2,658.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is currently $631,600. This represents a 5 per cent increase compared to August 2013.

“Broadly speaking, home prices in the region are continuing to experience modest, incremental gains,” Harris said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,940 in August. This represents a 5.9 per cent decline compared to the 4,186 new listings in August 2013 and a 20 per cent decline from the 4,925 new listings in July. Last month’s new listing total was 8.4 per cent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,768, a 7.9 per cent decline compared to August 2013 and a 5.4 per cent decrease compared to July 2014.

Sales of detached properties in August 2014 reached 1,158, an increase of 10.1 per cent from the 1,052 detached sales recorded in August 2013, and an 85.6 per cent increase from the 624 units sold in August 2012. The benchmark price for detached properties increased 6.6 per cent from August 2013 to $984,300.

Sales of apartment properties reached 1,126 in August 2014, an increase of 10.6 per cent compared to the 1,018 sales in August 2013, and a 55.3 per cent increase compared to the 725 sales in August 2012. The benchmark price of an apartment property increased 3.6 per cent from August 2013 to $379,200.

Attached property sales in August 2014 totalled 487, a 9.7 per cent increase compared to the 444 sales in August 2013, and a 62.3 per cent increase over the 300 attached properties sold in August 2012. The benchmark price of an attached unit increased 3.9 per cent between August 2013 and 2014 to $474,900.

Download August 2014 stats package

 * Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

....shared from the Real Estate Board of Greater Vancouver www.rebgv.org

What stratas need to know about electric vehicle charging stations

Electric vehicles are gaining popularity in Metro Vancouver. These include:
  • battery electric vehicles
  • plug-in hybrid electric vehicles
  • extended range electric hybrid vehicles

What does this mean for strata corporations and strata lot owners?

The Condominium Home Owners’ Association of BC with the partnership and support of the BC Ministry of Energy and Mines has identified options and procedures in a newly released guide, Installation of Electric Vehicle Charging Stations on Strata Properties in British Columbia.

Part 1 of the guide explores the various aspects a strata corporation needs to consider when installing an electric vehicle  charging station (EVCS) in a new or existing multi-family strata corporation.

It covers legislative restrictions and regulations, and limitations created by the registered strata plan, easements and covenants and strata corporation bylaws.

Part 2 provides an overview of the technical requirements for EVCS in strata titled properties, an overview of technology, an outline of installation costs and requirements, as well as operational costs.

Did you know?

There are more than 27,000 strata corporations in BC, collectively representing more than 600,000 strata-titled properties including residential, commercial, industrial, hotels, leasehold marinas and leasehold property.

Photo source: Condominium Home Owners Association of BC