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Month: January 2013

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Beach Avenue Condos Average Sale Price Drop 16% In 2012

Vancouver’s West End neighbourhood’s most expensive real estate is on Beach Avenue, which was the original and only waterfront condos in the city, until they developed False Creek, Coal Harbour and Yaletown. The original Beach Avenue ran from 1000 block to Stanley Park at the 2000 block and consisted of about 15 condo buildings, mostly strata but also a few co-ops which were built in the 1940s and 1950s (1949 Beach, 2095 Beach, 1835 Morton). Vancouver’s beach avenue condos Average sales price drops 16% from a year ago

What is the West End’s Lifestyle?

Walkscore has rated this Vancouver waterfront neighbourhood the second most walkable neighbourhood in Vancouver, with a 94 score and a population of approximately 50,000. Geographically the West End is west of Burrard and south of West Georgia and bordered by Stanley Park. An easy commute to Vancouver’s business district by bus or foot, its own community centre, schools, shops, restaurants and of course the beaches and Stanley Park. Read more

by Maggie Chandler Maggie Chandler No Comments

What is the Lifestyle of Vancouver’s Fairview?

Vancouver’s Fairview neighbourhood always reminds me of San Francisco when I drive down Oak to 6th avenue.  Fairview’s boundaries are Cambie, 16th avenue, Burrard and West 2nd and consists of houses, townhouses and condos. It’s a middle class neighbourhood which is made up of single, couples and families.  Conveniently situated to Granville Island it has a Skytrain station and the bus in its neighbourhood, as well as shops and restaurants, the VGH and many other health facilities. It’s a quick walk to the waterfront and Vancouver’s Downtown. What’s the lifestyle of Vancouver’s Fairview? It boasts fantastic city, mountain and water views and centrally located. Read more

by Maggie Chandler Maggie Chandler No Comments

Which Vancouver Real Estate Price Range Sold the Best in 2012?

It’s always interesting to drill down on Vancouver real estate statistics to see which price range sells the best. The bottom end is always the most affordable but if there’s weak demand at the bottom, the middle price range sellers are unable to trade up. Vancouver’s luxury price range ,to a larger extent , depends on international buyers. Here’s the stats for which Vancouver Real estate price range sold the best in 2012 Read more

by Maggie Chandler Maggie Chandler No Comments

How’s the Vancouver Condo Market in False Creek?

False Creek is one of Vancouver’s waterfront neighbourhoods and includes the Olympic Village.  The lifestyle offers the convenience of being steps to the seawall and waterfront, close to the Skytrain on Cambie and 2nd, convenient and close to Downtown Vancouver, easy walking distance to Granville Island, VGH, the stores on Cambie and West Broadway. This neighbourhood offers you townhomes and condos. So how’s the Vancouver condo market in False Creek?

False Creek Real Estate Median Prices in 2012 Drop 4.8%

False Creek median sale prices only corrected 4.8% in 2012. Sales dropped 31.6% and listings were up 69% from a year ago. Sellers on average dropped 6% and it took an average of 39 days to sell a property. The sales to active ratio sits at 12% , slightly above a buyers market, and is on the upturn. Read more

by Maggie Chandler Maggie Chandler No Comments

Deal of the Month – 409-1255 Seymour, Vancouver, BC, Court Ordered Sale

Quite often buyers ask me to find them a Vancouver Foreclosure/Court Ordered Sale because they are looking for a below market deal.  Well here’s one for you in Downtown Vancouver.

Elan is a luxury 5 year old Cressey building which is only a couple of blocks to the seawall and has a steam, sauna, gym and recreation room.  Live-in caretaker . Pets and rentals allowed. The condo is available for immediate possession . The tax assessment is $602,000 and it’s  listed at only $537psf. Read more

by Maggie Chandler Maggie Chandler No Comments

Which Are Vancouver’s Ten Most Expensive Condo Sales In 2012?

Which are Vancouver’s ten most expensive condo sales in 2012 and which are the most expensive on a $psf basis? And which of Vancouver’s neighbourhoods had the most sales in the top ten? Coal Harbour won with 8 of the 10 sales, followed by one in Yaletown and one in the West End.  Needless to say all ten were in Vancouver waterfront condo buildings.  The most expensive sale was Aquarius Penthouse at $6M Read more

by Maggie Chandler Maggie Chandler No Comments

Coal Harbour’s Bayshore Drive A Good Buyer’s Market in 2012

Bayshore Drive has two waterfront buildings plus five others and it’s part of Vancouver’s luxury waterfront neighbourhood of Coal Harbour. Currently listings are down to 14 starting at $798,000. December had two sales. Bayshore Drive was a good buyer’s market in 2012 and will likely remain the same for 2013.

More Bayshore Drive Sales Slow in 2012

  • Bayshore Drive sales in 2012 totalled 28 with an average sale price of $1,627,000 or $943psf and sellers moved 6% off list price , with an average of  67 days to sell and two sales over $3M Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Best and Worst Performing Neighbourhoods in 2012

There are a number of reasons why some Vancouver neighbourhoods perform better than others – proximity to the employment core,  above average schools, historic districts because they are comparatively unique, waterfront which is in limited supply, crime rate and access to public transportation. So which are Vancouver’s best and worst performing neighbourhoods in 2012?

Best Performing Vancouver Neighbourhoods – Houses

Here is a list of the current House  Benchmark Price (as per REBGV) at December 31, 2012 and its 2012 performance year over year. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s West End Condo Average Sale Price Drops Again in December

Vancouver’s West End Condo average sale price drops again in December,  to $507,000, equal to Aug’09 prices and has been roller coastering since. West End prices peaked in Jan’12 at $917,000 (pushed up by some high end sales).

  • West End listings 159  – down again
  • West End sales – 29 and down 27% from a year ago
  • Average days on market – 60
  • Sellers dropped an average of 7% off list price
  • The average $psf  is 558 – down again
  • West End sales to active ratio slips to 15%, indicating a balanced market Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Yaletown Real Estate Prices Drop 3% in 2012

Vancouver’s Yaletown real estate prices drop 3% in 2012, as per REBGV. Average sale price now at $718,000, having peaked at $978,000 in Jan’11. The average sale price first reach $717,000 in Oct’07 and has been roller coastering since.

  • Yaletown listings dropped again to 218 and are 8.5%  lower than a year ago
  • Yaletown sales dropped to 23, which is 57% lower than a year ago and taking an average of 69 days to sell.
  • Yaletown sellers dropped 4% off list price
  • The average $psf  is flat at 730
  • Sales to active ratio decreased to 11 , the lower end of a balanced market Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Downtown Condos Prices Rose 13% in 2012

Vancouver’s Downtown condo prices rose 13% in 2012, the average sale price is now $535,800.  They reached a new top at $584,000 in Sept’12, dropped in October then trended up in November and December.  Vancouver Downtown listings dipped to 281, the lowest level since January 2008.  Vancouver Downtown sales also dipped, down to 31,  55% below a year ago. Days on the market was 41.  The average $psf  rose to $642. Vancouver Downtown sales to active ratio dropped to 11%. A good time to buy!

How Have Vancouver Downtown Condos Performed Vs. Townhomes?

Vancouver’s Downtown condo sales are performing the best at the bottom of the market, with 66% of sales under $500,000 for December.  Only two Vancouver Downtown townhomes sold in December, both under $735,000. Back to a local market? Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Coal Harbour Condo Average Price Drops 10% in 2012

Vancouver Coal Harbour condo average price dropped 10% in 2012. Sales and listings also continued to drop in December. This luxury Vancouver waterfront neighbourhood saw prices peak in October 2008 and surpass that in November 2011. The current average sale price for Coal Harbour real estate was first reached in 2006 and has been on a roller coaster since then. The decrease in luxury Vancouver real estate buyers has impacted this neighbourhood. Read more

by Maggie Chandler Maggie Chandler No Comments

Kitsilano Condo Prices Drop 18% in 2012 But Townhomes Roared Up 12%

Vancouver’s most desirable waterfront neighbourhood of Kitsilano saw December condo prices drop 18% from a year ago as townhomes roar up 12% and houses ended up 2.7% less. The extension of the Skytrain to UBC will increase the value of real estate close to West Broadway corridor. Real estate Sales remain down for Kitsilano houses and condos but up for townhomes.

Year Over Year Kitsilano Condos Present Best Value

Kitsilano’s houses peaked at $2,829,000 in Jan’12 and the December average sale price now sits at $1,544,000. April 2012 saw Kitsilano townhomes peak at $1,137,000 and now sit at $1,025,000. Kitsilano Condos have dropped from $517,000 in Dec’11 to $424,833 which is an 11% drop. A good time to sell is now, as the Kitsilano listings are low Read more

by Maggie Chandler Maggie Chandler No Comments

Why East Vancouver Townhomes Outperformed Houses and Condos in 2012

East Vancouver’s real estate average price ended 2012 equal to Mar’11, according to  REBGV graph.  House average sale price now $899,130 , up 1.3% from a year ago and back to Jun’11 levels. Townhomes average sale price at $655,500 was up 10.9%  over the last year, a record high. East Vancouver condos  at $344,400  are down 7.7% from a year ago and back to Jun’11 levels. Vancouver real estate market still favours buyers, due to the listings vs sales ratio which is 14%. It peaked in 2006 at 48%! Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver West Average Real Estate Price Back to Oct’09 Levels

Vancouver West average real estate price ended 2012 at the same level as  Oct’09, according to  REBGV graph.  House average sale price now $2,136,736 , down a whopping 23% from a year ago and back to October 2010 levels. Townhomes average sale price at $899,199 was up 4.7%  over the last year, having peaked at $1,072,000 in April. Vancouver condos  at $584,855  are down 4.6% from a year ago and down from $683,000 in Feb’12. Vancouver real estate market still favours buyers, due to the listings vs sales ratio which is 11%. In March 2006 it was 46%!! Read more

by Maggie Chandler Maggie Chandler No Comments

Greater Vancouver Average Sale Price Closes 2012 17% Below the Peak

2012 real estate sales in Greater Vancouver dropped 22.7% from 2011 and were down 18% from 2010. Total listings decreased 2% from 2011 and were 6.1% above the ten year average.  Greater Vancouver average sale price is down 17% to $689,269, equal to Mar’10. The top was May ’11 at $833,205.  Exciting market for Vancouver real estate buyers and I’ve been contacted by many new buyer clients over the holidays! Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Luxury Condos Prices Drop 9% from 2011 With Sales Down 30%

Happy New Year!

The Vancouver luxury condo (over $2M)  prices drop 9% from 2011, with sales down 30%sales . Sales over $5M dropped 60% in 2012 vs 2011.

Sales over $5M YTD

  • 2012 -4 (most expensive 1199 Marinaside Penthouse $6M for 5234sf)
  • 2011 -12 (most expensive Shaw Tower $10M for 7500sf)

Average Price for Sales over $5M

  • 2011 – $6,179,000 ($1627psf). Sale price/list price ratio 10%
  • 2012 – $5,612,000 ($1555psf) . Sale price/list price ratio 9% Read more

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