East Vancouver Property Prices and Sales Still Trending Down

East Vancouver > Average sale price for East Vancouver hit $911,560 in August, down from the top in May $1,113,960. Current house price is $1,506,000 down from the peak in July of $1,706,000. Towhomes sit at $743,000 down from the peak in July of $850,000. Condos are at $511,000 down from $525,000 in June. House prices remain 14% higher than a year ago, townhomes are up 22% higher than a year ago and condos are…

Hurry for Vancouver’s West End’s Cheapest One Bedroom Condo!

Hurry for Vancouver’s West End’s Cheapest One Bedroom Condo! JUST LISTED! 2205-1251 Cardero Street – Penthouse n.e. corner one bedroom boasting wonderful ocean, mountain and city views.  Freshly painted and new carpets. Bring your decorating ideas for the kitchen and bathroom. 99 year leasehold building. Surfcrest is situated steps to Alexander Park and Beach Avenue, with a 94 Walkscore, indoor lap pool and sauna, plus underground secured parking and storage locker. A great investment condo,…

BC Housing Demand Remains Strong Except for Vancouver

The British Columbia Real Estate Association (BCREA) reports that 8,945 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August, up 1.5 per cent from the same month last year. Total sales dollar volume was $5.1 billion in August, down 6.7 per cent compared to the previous year. The average MLS® residential price in the province was $569,393, a decline of 8.1 per cent compared to the same month last year. “Strong…

Vancouver’s West Side Property Listings, Sales & Prices Continue Downwards Trend

August saw a continued drop in > Average Sale Price The average sale price of a West Side house is now $3,982,000 – down from $4,245,000 in July but still up 20% over the last year. Townhomes are now worth $1,089,000, down from $1,292,00 in July but still up17% over the last year. West Side condos sit at $795,000, down from $911,000 in July and up 5.5% over the last year. Average price pr sq…

Greater Vancouver’s Real Estate Market Becoming More Balanced

August saw Greater Vancouver’s real estate market becoming more balanced as it leaves its lofty high volume of sales and escalating prices. It was the second consecutive month that > Sales peaked in March at 5,196 and dropped to 2,524 in August, which is 25% less than a year ago and equal to August 2013. Given that sales have been performing at record levels the market is now returning to a normal pace, which has…

New Regulations for Older BC Strata Buildings

Are you stuck in old, run-down strata properties? You will now have an easier time selling their units. The Strata Property Act has been amended, permitting strata corporation members to terminate a strata corporation by an 80 per cent vote. Previously, a strata corporation could only be terminated with a 100 per cent vote. “We made this change to give strata lot owners more freedom to choose what they want to do as their > “We don’t…

Why I Came Back to Vancouver’s Kitsilano

This article is about stories my clients have told me regarding leaving and returning to Vancouver’s Kitsilano. We lived in kits for nearly three decades and just loved it but when we retired we decided to sell our Kitsilano house and move to Vancouver Island. After a year of living on the island we got lonesome for Kits and found ourselves taking the ferry back to Vancouver more often than we had thought we would….

BC Real Estate Prediction for 2017 and 2018

Will the new foreign buyers tax effect Vancouver real estate sales and prices, or will the prices continue to trend upwards? Read the latest opinion from Central 1 Credit Union’s Economist Here’s another opinion on BC real estate sales and prices from BCREA Chief Economist Cameron Muir Vancouver, BC – August 25, 2016. The British Columbia Real Estate Association (BCREA) released its 2016 Third Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales…

BC Housing Starts Decline in July

Housing starts in BC declined last month . On a year-over-year basis, new home construction was up 14 per cent in July due to a 25 per cent jump in single detached starts and an 11 per cent rise in multiple units. Through the first seven months of the year, BC housing starts are up 37 per cent compared to 2015. Multiple unit starts dropped 14%. Single-detached starts in the Vancouver CMA were up 15…