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Month: June 2012

by Maggie Chandler Maggie Chandler No Comments

Which Vancouver Neighbourhood Has the Best Priced Condos?

Are you a Vancouver first time home buyer, investor, trading down or looking for a vacation home?  Whichever category you fit into, you may be looking for the Vancouver neighbourhood with the best priced condos.  A Vancouver condo fits the bill and is, in fact, 70% of the west side sales. So which Vancouver neighbourhood should you buy in? The blue chip ones or the up and coming ones? I researched the average sale price for May 2012 and here are the results.

Which is Vancouver’s Most Expensive Condo Neighbourhood?

Vancouver’s waterfront neighbourhood of Coal Harbour with an average sale price of $1,187,765, boasting less than 40 condo buildings and only one remaining site left to build on. Read more

by Maggie Chandler Maggie Chandler No Comments

What Vancouver Homebuyers Should Know About Buyer Contracts

Real estate buyers and sellers who have sold their Vancouver property are familiar with the MLS Listing Contract, however, few are familiar with an Exclusive Buyers Contract and in fact few Vancouver realtors use them. A contract is a legally binding agreement between two parties and explains each parties rights and obligations. Buyer and seller contracts have been prepared by lawyers for REBGV and outline the obligations of the parties involved. Read more

by Maggie Chandler Maggie Chandler No Comments

Who’s Buying Vancouver Real Estate?

Who’s buying Vancouver real estate is a questions often asked by those who live in our beautiful City. At the end of every month the REBGV send out a survey to the realtors who made a property sale that month. Here’s the results for May 2012.

First Time Home Buyers Make Up 35.4% of May Sales

Greater Vancouvr First time home buyers are still a force to be reckoned with! The next largest group was homeowners moving from one property to a similar property at 21.4%. Followed by 13.6% who were investors and 10.3% who moved from a condo or townhome to a house. Only 3.7% were foreign investors. 1.6% moved to a retirement home and 6.2% moved from a house to a condo. 60% of the home buyers had at least 25% downpayment and 16.5% were cash buyers, leaving 23.5% as high ratio buyers. Read more

by Maggie Chandler Maggie Chandler No Comments

Drop By and Admire This Downtown Vancouver Condo for Sale

Just Listed! First open house Saturday 2-4.305-168 Powell Street.  Drop by and admire this Smart one bedroom condo in Vancouver’s Downtown district of Gastown. Built by Concord Pacific.

What Does Gastown Offer as a Vancouver Neighbourhood?

I love living in this trend setting district bordering historic Gastown with its amazing restaurants. I’m enchanted by the old world charm and character of the much touted and up and coming “Soho of Vancouver”. You’ll see me strolling the cobble stoned street in Vancouver’s oldest neighbourhood.

What are my Downtown Condo Upgrades?

Upgrades include LG appliances, frosted-glass sliding wall (opening up bedroom to living area), designer glass upper cupboard lighting, porcelain tiles and beautiful bamboo-laminate flooring and a locker. You’ll love our great fitness centre. I overlook the courtyard garden and have a warranty. You can move in Aug 1st. Rentals and pets welcome. Only $472psf! BUY ME! Walkscore 97. Look forward to meeting you on Saturday!

Please leave a comment at the bottom of this page on Facebook.

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by Maggie Chandler Maggie Chandler No Comments

Deal of the Month in Kitsilano’s Arbutus Walk

Tropez sits in a quiet corner of Kitsilano’s Arbutus Walk and is a four story concrete building, now 12 years old. #403 is the deal of the month in Kitsilano’s Arbutus Walk. A top floor suite facing north and features two bedrooms and a den, parking and locker. This condo is absolutely immaculate and has only been listed for three weeks prior to having a $50k price reduction! Now priced below market value!

Why is this Kitsilano Condo a Deal?

This Kitsilano condo is a deal because the last comparable sale in the building sold in March  for $710psf, which would make this condo worth $762,000. The recent sold was also a top floor suite.

When Can I Close on This Condo?

You can move into your Kitsilano condo in two weeks.

Please leave a comment at the bottom of this page on Facebook, or Like Us.

P.S.  I am your Vancouver real estate condo realtor!

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by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Downtown Condo Average Sale Price Drops in May 2012

How is Vancouver’s Downtown Condo Market? Vancouver’s Downtown condo average sale price in May dropped to $470,697 (from  $518,068 in April) and is equal Sept’09 prices but has been rollercoastering!  Prices peaked at $548,127 in January.  Prices lost 7.2% year over year. Total listings are up to 530, higher than a year ago and equal to Nov’08. Sales dropped to 89, lower than a year ago and equal to Apr’09.   It’s taken an average of 41 days to sell a property in May,which was quicker than April.  The average $psf  is down to 641, equal to a year ago. This Vancouver  neighbourhood represents great opportuniites for buyers!

How Have Vancouver Downtown Condos Performed Vs. Townhomes?

Over the last year Vancouver Downtown townhomes have dropped 10% and condos have dropped 6.6%. Townhomes peaked in Oct’09 and condos peaked in Jan’12.

Where’s the Best Value for Vancouver’s Downtown Properties?

Downtown one bedroom condos under $360,000 lost 7.3% over the last year. Vancouver Downtown condos between $450,000 and $575,000 performed the best with a 0.3% gain.

What’s your opinion of the Vancouver Downtown Condominium market?  Please leave a comment at the bottom of this page on Facebook, or Like us on Facebook!

Buying or Selling a condo or townhome in Vancouver’s Downtown? I come armed with stats and graphs, hyperlocal info, strong communication skills, all coupled with decades of experience! I am your Vancouver real estate condo realtor!

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by Maggie Chandler Maggie Chandler No Comments

How Is The Kitsilano Townhome and Condo Market?

Vancouver’s waterfront neighbourhood of  Kitsilano saw average sale price for townhomes flat at $,1034,000 and condos down 3.3%  to$494,000 vs a year ago.   Townhome sales were up 5% from a year ago and condos dropped 10%. However listings spiked 52% and condos 25% .

How Long to Sell a Listing in Kitsilano?

In May 2012 days on the market for Kitsilano townhomes was 24, taking longer than a year ago and condos was 28, selling faster than a year ago. Average $psf for townhomes is $739 and condos $620, both equal to a year ago. Read more

by Maggie Chandler Maggie Chandler No Comments

How Much Have Vancouver’s Coal Harbour Property Prices Dropped?

Vancouver’s condo market in Coal Harbour saw May’s average sale price slightly down to $1,187,765 vs $1.192.750 a year ago and perhaps now levelling. Sales almost half of what they were a year ago, with 70% under $1M and 30% over $1M. Solds took  longer to sell at 108 days.  The average price psf increased to $908 (more sales over $1M) having achieved a peak in Oct’08 at $1015 and roller coastering since then.  Coal Harbour’s current listings are up slightly to 235.  Monthly new listings rose again to 69.  Sellers on average moved 7% off List Price.

Compared to a year ago, average price for Vancouver’s Coal Harbour townhome and condo 3 bedrooms was down 25%  (average price $2.1M), 2 bedrooms lost 10% (average price $1.012.125) and are equal to Feb’11 price.  One bedrooms fell 13% (average price 479,000).

Coal Harbour average sale price peaked in Nov’11 at $1,766,000 and down to $1,187,765 in May. Perhaps levelling? Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Market Analysis for May 2012

Vancouver real estate graph for the west side in May shows the monthly number of listings, sales and average price for houses, townhouses and condos. Drilling down on the Vancouver average sale price compared to a year ago,  houses are down 8.6%, townhomes 0.7%  and condos 0.3% .  I can break it down further and say that compared to a year ago, one and two bedroom Vancouver condo prices are flat but the three bedroom prices are up.  Welcome to hyperlocal information!

Which Vancouver Property Type has performed the Best Over the Last Year?

Townhomes and condos!   Because houses had the strongest price increase over the last three years they are poised to have the largest correction. The local market which didn’t see the spike isn’t undergoing the same decline. Vancouver average house price for May was  $2,233,174, down from $2,308,084  in May and peaked at $2,790,531 in Dec’11. (-20%). Townhomes at $908,452 compared to $915,054 a year ago and condos sit at $627,635 and are equal to a year ago. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Condo Prices Flat in May But House Prices Continue to Decline

Vancouver condosWhen Vancouver home buyers and sellers ask me how’s the Vancouver  real estate market, I ask them what neighbourhood and type of property are they referring to? The REBGV stats for May show vancouver (west side) house prices are continuing to fall, with the average sale price now $2,244,174, down from the peak at $2,790,51. Average townhome price is currently $908,451, compared to $915,054 a year ago, and condos sit at $627,335 compared to $629,104 a year ago. Condos are outperforming houses and townhouses – more affordable and a local market. A good buyers market in all Vancouver real estate categories.

How Are Vancouver Property Sales Compared to a Year Ago?

Vancouver house sales are down almost 50% from a year ago, after peaking in February this year.  Vancouver Townhomes sales in May are down 30% from a year ago. Vancouver Condos are performing the best with sales in a steady increase since January and only slighly less than May’11. Read more

by Maggie Chandler Maggie Chandler No Comments

Why This Just Listed Kitsilano Condo is a Ten!

Vancouver’s neighbourhood of Kitsilano has long been an upscale place to live,  because it’s very close to Downtown Vancouver, has easy transportation to UBC and is proud of the very popular Kits Beach, The Maritime Museum, Academy of Music, The planetarium, trendy 4th Avenue shops and restaurants,  beautiful Kitsilano parks and much more! Kitsilano’s newest neighbourhood is Arbutus Walk which has ample green spaces and is a hop to the bus on West Broadway. Read on to see why this Kitsilano condo is a ten! Walkscore 88.

Who Are the Buyers for This Kitsilano Condo?

The suite is currently rented for $1200 pr month, convenient forVancouver condo investors. It would also suit Vancouver first time buyers or serve well as a pied a terre in the city. Deseo is located at 2226 W. 12th and is nine years old. #107 faces south with a lovely sunny patio. It is a large studio of 527sf with a built-in Murphy bed, engineered hardwood floors, insuite laundry and TWO PARKING STALLS! Available July 1st. Read more

by Maggie Chandler Maggie Chandler No Comments

Can I Buy a Vancouver Home for Ten percent Below List Price?

Now that we’re in a buyers market I am often asked by buyerscan i buy a Vancouver home for  ten per cent below the list price? My answer is that it depends on the Vancouver municipality, the specific neighbourhood, the type of property and the price range. Let’s consider the average Vancouver real estate sale price for house, townhouses and condos (for west side).

Vancouver Real Estate Price History

Based on the graphs for April 2012, the Vancouver real estate price history shows the biggest price drop in Vancouver houses, which are down 17% from the all time high in Dec’11 and the stats show that sellers moved an average of 4% off list price for homes that sold. Vancouver townhome prices are moving up, perhaps there is an increased demand because of the skyrocketing house prices, and condos are squishy, with the biggest price correction taking place on Vancouver luxury condos (over $2M). Three bedroom Vancouver condos have taken a 38% hit on average sale price between Sept’11 and Apr’12 – much fewer sales at the high end (only 10% of sales are over $1M). Read more

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