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Month: August 2013

by Maggie Chandler Maggie Chandler No Comments

Why Is Vancouver the World’s Third Most Liveable City?

may'12 005 (Copy)The Economist has published results of a study commissioned by a private company to find out which are the world’s most liveable cities. Melbourne wins for the third consecutive year.  The study consider 140 cities and found that since 2008 the average global liveability score has fallen by 0.6%, led by a 1.3% fall in the average stability score. The last five years has seen civil unrest becoming a globally destabilising factor.

So, why is Vancouver the world’s third most liveable city? Thanks to a widespread availability of goods and services, low personal risk, and an effective infrastructure, access to and quality of healthcare, the environment and culture.  It does not take into account the cost of living as a factor in ‘liveability.’ Read more

by Maggie Chandler Maggie Chandler No Comments

Which Area in Vancouver’s Kitsilano Has the Most Expensive Condos?

IMG_1944YTD Kits has had 259 condo sales, the most expensive being $1.150.000 for a pre-sale at Arbutus Ridge, one of only two sales over $1M. The least expensive Kitsilano condo sold for $224,000, a small one bedroom at 2234 W. lst.

65% of Kitsilano condo sales were $500,000. But which area in has the most Vancouver’s Kitsilano has the most expensive condos?

Is North or South of 4th Avenue the Most Expensive Kitsilano Real Estate?

  • North of 4th avenue had 103 sales YTD with an average sale price of $442,000 and average size of 780sf. and two sales over $900,000
  • 4th ave to West Broadway had 79 sales YTD with an average sale price of $400,000 and average size of  751sf and no sales over $725,000 Read more

by Maggie Chandler Maggie Chandler No Comments

Are Kitsilano Townhomes a Good Buy ?

IMG_1956Some Vancouver real estate buyers prefer townhomes and half duplexes to condos because it’s more like living in a house. I’ve noticed that real estate sales for Kits townhomes are higher than a year ago. So, are Kitsilano townhomes a good buy? Last year there were 100 sales til end of July and this year there’s been 119 sales. Prices are down only 5.2% from a year ago and listing are also down by 11%.

What is the Kitsilano Townhouse Sale to Active Ratio?

Currently it sits at 27% , which is 26% higher than a year ago and sellers only move an average of 3.5% off List Price, with an average of 34 days on the market. Kitsilano townhome buyers are trade up buyers from condos and baby boomer selling their houses and moving down Read more

by Maggie Chandler Maggie Chandler No Comments

Are Vancouver’s Downtown Condo Prices Now Rising?

may'12 005 (Copy)The graph for July shows the average sale price for Vancouver’s Downtown condo prices rising, having bottomed in January at $448,926 and clocking in at $513,291 in July, which was first reached in July 2009. Downtown Days on market are 50 and sellers moved an average of 3.5% off list price. Downtown Vancouver’s real estate sales to active ratio sits at 21%, having bottomed in July’12 at 10%. Looking good!

How Are Vancouver’s Downtown Real Estate Sales?

Downtown real estate Sales rose to 78 in July, up from a low of 31 in Dec’12. Vancouver Downtown New listings peaked in May and are now down to 267. Compared to a year ago sales have increased the most in the $450,000 to $575,000 price range. The only category where sales are lower than a year ago are condos under $360,000. Read more

by Maggie Chandler Maggie Chandler No Comments

Why Are Vancouver’s West End Condo Prices Still Dropping?

may'12 033 (Copy)Vancouver’s waterfront neighbourhood of the West End is steeped in history, character buildings and borders Stanley Park and English Bay, so why are the West End condo prices still dropping? The average sales price in July slipped from $485,777  to $442,093. Prices first hit this level in the Fall of 2006, peaked at $917,000 in Jan’12 (skewed by a $4M sale)  and have been on a downhill slide since then. In July 26 of the 38 sales were under $500,000 and only four sales were above $1M, so the average price is falling as the sales are at the lower end of the price range.

How Are West End Condo Sales?

July condo sales in the West End were 42, down from 63 in May but 13.5% higher than a year ago. New listings have been trending down since April and total inventory is 32% lower than a year ago. Days on market are 46, with sales to active listings at a healthy 21%, having bottomed at 11% in January. Sellers only move an average of 5% off list price. Read more

by Maggie Chandler Maggie Chandler No Comments

Why Vancouver Real Estate Sales and Prices Will Rise in 2014

imagesCACS38HECMHC are forecasting BC housing starts to rise from 27,100 to 28,600 in 2014. BC home sales are expected to reach 70,100 this year, up from 67,637 last year and will climb to 77,000 next year. Residential real estate prices are forecast to edge up to $518,300 in 2013 from $514,836 last year and reach $523,200 next year.

Why the optimism? BC’s economy is expected to expand 2.5% next year, up from 1.9% this year. Population and employment growth will boost employment spending, whilst a weaker Canadian $ will boost our exports to the US, resulting in an increase in full time employment in 2014. As well, an increase in the 25-44 year old age group will increase first time buyer demand for homes. Read more

by Maggie Chandler Maggie Chandler No Comments

Which Month Has the Lowest Condo Prices in Vancouver’s Yaletown?

390320_10151168974775317_844290316_22462368_1310468135_nSimilar to other Vancouver waterfront condo neighbourhoods Yaletown condo prices are also see-sawing. Yaletown condo prices are up 4% compared to a year ago, now at $747,647, from a bottom of $580,318 in April which was slightly higher than the last low at $554,488  in Nov’10 and higher than the record low of $465,425 in Nov’08 (Wall Street Crisis). Which month has the lowest condo prices in Vancouver’s Yaletown? Apparantly November.  Nov’12 saw the average sale price at $689,696 which was the lowest month since Nov’11.Let’s keep an eye out for this November!

The current average sale price in this wonderful waterfront neighbourhood first hit this level in Nov’07. Read more

by Maggie Chandler Maggie Chandler No Comments

Kitsilano Real Estate Prices in July Steady As She Goes

may'12 019 (Copy)Kitsilano real estate prices in July steady as she goes. A waterfront home on Point Grey Road sold for over $7M, which spiked the average sale price for houses. Townhomes dipped a tad and condos increased a tad. Sales to active ratio sits at 27%, with an average of 34 days on the market and sellers moving an average of 4% off list.

Are Kitsilano Listings and Sales Up or Down?

Total listings peaked on June and decreased in July. Kits condo sales outperformed houses and townhomes and have been on a steady rise since January, whilst houses and townhome sales in July continue a downward trend.

What Price Range Sells Best in Kitsilano?

Kitsilano townhomes between $600,000 and $1.1M are selling the best. Condos under $425,000 are the best sellers, followed by $425,000 to $600,000. Read more

by Maggie Chandler Maggie Chandler No Comments

East Vancouver Real Estate Prices Dip Slightly in July

imagesCABLVQXNEast Vancover real estate prices dip slightly in July. The average sale price of a house is now $934,000 versus $605,000 for a townhome and $355,000 for a condo. House prices are equal to Mar’12. Townhomes are equal to Nov’10 and condos are the same as Mar’10. View the graph

How Are Property Sales in East Vancouver?

Good! Sales bottomed in Dec’12 at 125 and hit 325 in July, with average days on market at 44 and the sales to listing ratio at 24%. Sellers dropped an average of 4% off list price. Listings sit at 1,341 and are on a downward trend. In all a healthy market. Read more

by Maggie Chandler Maggie Chandler No Comments

What Type of Property is Selling Best in Vancouver (West Side)?

may'12 041 (Copy)July saw four house sales over $7M, pushing up the average sale price to $2,790,652, a whopping 16% higher than a year ago. Townhomes dipped a tad to $878,625, up 4.1% from a year ago and condos sat at $629,038 which is 9.4% higher than a year ago. Resilient real estate market! So what type of property is selling best in Vancouver (west side)? All types!

How Are Vancouver Property Sales?

Vancouver proerty sales bottomed in December 2012 at 236, then peaked in May at 657 and dipped in July to 574. Days on market was 50, with sellers moving an average of 5% off list price. Sales to active ratio flat at 20, up from 9 in Sept’12.  Listings continue to trend down, now at 2,922 from a peak of 3,935 in June last year. Read more

by Maggie Chandler Maggie Chandler No Comments

Seller’s Loss is Buyer’s Gain – 1103-1680 Bayshore Drive, Coal Harbour

classicoPrice slashed to $938,000 for this 1130sf condo on sought after Bayshore Drive in Vancouver’s Coal Harbour. The n.w. corner 2 bedroom and den boasts a great view of the water and mountains and comes with 2 parking and a storage locker. The building has a concierge. Pets and rentals welcome. Seller’s loss is buyer’s gain – 1103-1680 Bayshore Drive, Coal Harbour

Why is This Coal Harbour Condo Sharply Price?

The list price is now less than what the seller paid for it in December 2006 and it is also below assessed value. Call me for a showing and get yourself a great deal! Read more

by Maggie Chandler Maggie Chandler No Comments

Greater Vancouver Real Estate Sales in July Best For 2013

imagesCACS38HEJuly saw the highest month for Greater Vancouver real estate sales for 2013 and the best July since 2009. The 2,946 sales was 40.4% higher than July last year and 11.5% higher than June and 0.1% above the 10 year average for the month. The sales to active listings ratio increased to 17.7% which was the highest since June 2013.

House sales rose by 59% from a year ago, townhomes rose 27% and condos increased 31%. Read more

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