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Month: February 2017

by Maggie Chandler Maggie Chandler No Comments

How Does Canada’s 2016 Census Impact Vancouver’s Real Estate Market?

Check out the latest stats from Canada Census 2016 and see how our population is growing in Metro Vancouver, the number of dwellings, population density and more!

Population growth in Metro Vancouver communities in REBGV

Location Population 2016 Population 2011 % change
Metro Vancouver 2,463,431 2,313,328 +6.5%
Anmore 2,210 2,092 +5.6%
Belcarra 643 644 -0.2%
Burnaby 232,755 223,218 +4.3%
Coquitlam 139,284 126,804 +9.8%
Delta 102,238 99,863 +2.4%
Lions Bay 1,334 1,318 +1.2%
Maple Ridge 82,256 76,052 +8.2%
New Westminster 70,996 65,976 +7.6%
North Vancouver City 52,898 48,196 +9.8%
North Vancouver District 85,935 84,412 +1.8%
Pitt Meadows 18,573 17,763 +4.7%
Port Coquitlam 58,612 55,958 +4.7%
Port Moody 33,551 33,011 +1.6%
Richmond 198,309 190,473 +4.1%
Vancouver 631,486 603,502 +4.6%
West Vancouver 42,473 42,694 -0.5%

Source: Statistics Canada

Dwellings, occupied dwellings and population density

Location Total # of private dwellings Occupied private dwellings Land in sq km Population density per sq km
Metro Vancouver 1,027,613 960,894 2,882.68 854.6
Anmore 723 688 27.55 80.2
Belcarra 292 253 5.50 116.9
Burnaby 98,030 92,201 90.61 2,568.7
Coquitlam 54,393 51,325 122.30 1,138.9
Delta 37,590 35,758 180.20 567.4
Lions Bay 547 495 2.53 526.5
Maple Ridge 31,400 30,262 266.78 308.3
New Westminster 34,235 32,708 15.63 4,543.4
North Vancouver City 26,426 24,645 11.85 4,465.1
North Vancouver District 32,624 31,116 160.76 534.6
Pitt Meadows 7,356 7,194 86.51 214.7
Port Coquitlam 22,586 21,753 29.17 2,009.4
Port Moody 13,318 12,975 25.89 1,295.9
Richmond 77,478 73,457 129.27 1,534.1
Vancouver 309,418 293,916 114.97 5,492.6
West Vancouver 18,649 16,933 87.26 486.8

Source: Statistics Canada

Note: Occupied private dwellings are those lived in by primary residents. The difference between this number and the total number of private dwelling is that these units aren’t occupied by private residents. These units could be cottages or housing for staff or students and may be occupied.

by Maggie Chandler Maggie Chandler No Comments

BC Real Estate Sales in January Return to Long Term Average Levels

The British Columbia Real Estate Association (BCREA) reports that a total of 4,487 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January, down 23 per cent from the same period last year. Total sales dollar volume was $2.79 billion, down 36.5 per cent from January 2016. The average MLS® residential price in the province was $621,093, a 17.5 per cent decrease from the same period last year.

“Housing demand across the province returned to long-term average levels last month,” said Cameron Muir, BCREA Chief Economist. “However, regional variations persist, with Victoria posting above average performance and Vancouver falling below the average.”

“A marked decrease in the average MLS® residential price is largely the result of relatively more home sales occurring outside of the Lower Mainland,” added Muir.

Home sales from Vancouver fell from 43 per cent of provincial transactions in January 2016 to 35 per cent last month. In addition, fewer detached home sales in Vancouver relative to multi-family units has skewed the average price statistic down in the province’s largest urban area. In contrast, the MLS® Residential Benchmark Price in the Real Estate Board of Greater Vancouver area has declined 3.7 per cent over the past six months, but is up 15.6 per cent from January 2016.

Contact Maggie if you have a real estate question

 

by Maggie Chandler Maggie Chandler No Comments

Francophones in Early Vancouver Walk Tour

I just went on Vancouver Heritage Foundation’s two hour walk tour about Francophones in early Vancouver -dating back to the last half of the eighteen hundreds. Hosted by historian Maurice Guibord, who is extremely knowledgeable, has a lovely sense of humour and does a lot of digging to verify facts and ascertain the correct information when found with conflicting opinions. The tour took place in the original Downtown Vancouver – Gastown and the Downtown Eastside.

Francophones were  French, Belgian and French-Canadian. Maurice gave us the history of a Sun reporter, Doctor, photographer and many entrepreneurial merchants, including bar owners because Gastown was a hub having the port and railroad in the neighbourhood.  He passed around a picture of them and pointed out  buildings, some designated as heritage, that were built by them, many with French names.

Did you know that the original Vancouver General Hospital was built next to the Sun Tower – it is presently a parking lot.

In 1909 mill workers were brought from Quebec to Maillardville by the owners of Fraser Mills. The immigrants from France and Belgium in the late 1800s became notable in business and society. This occurred around 1867 when the Dominion of Canada was formed. Happy 150th birthday Canada!

But back in 1790 it was mainly Francophones who facilitated the early overland crossing of the Pacific Northwest, drove the fur economy and eased relations with the indigenous people, as well as being the first non-indigenous people to farm in BC. A francophone was instrumental in organizing the CPR.

I learnt lots!

If you are interested in history and would like to learn about Vancouver’s history, I suggest you check out Vancouver Heritage Foundation and join a house tour, walking tour, workshop or special event.

Have a Vancouver real estate question? Contact Maggie

by Maggie Chandler Maggie Chandler No Comments

SOLD! 3007-1328 W. Pender in Vancouver’s Coal Harbour Neighbourhood

SOLD! 3007-1328 W. Pender in Vancouver’s Coal Harbour Neighbourhood.

What makes this north east. corner two bedroom condo special? The amazing water and mountain views!!

In addition Pinnalce’s Classico has great facilities which include a large indoor lap pool with a view! Jacuzzi, sauna, gym, party room, visitor parking, meeting room and a guest suite.

The suite itself has a large storage room (as well as a locker downstairs) and a den. It’s an excellent open floorplan with floor to ceiling windows.

Buying or selling in this Vancouver waterfront neighbourhood? Put my decades of hyper-local knowledge to work for you!

Search for Coal Harbour listings

by Maggie Chandler Maggie Chandler No Comments

East Vancouver Condos Outperform Houses and Townhomes in January 2017

East Vancouver Condos Outperform Houses and Townhomes in January 2017 with an increase in average sale price. Overall listings increased slightly but sales declined. The real estate market has returned to being better balanced. Clearly condos are benefiting from the affordability factor.

Listings –  listings bottomed in Dec’15 at 500 and now sit at 841, up 37% from a year ago. Houses sit at 624,up 81% from a year ago the highest inventory since Aug’13.Townhomes are 35, down 3% from a year ago and condos are 182, down 21% from a year ago. Condo and Townhome supply is at an all time low.

New Listings – increased for all property types

Sales – 136 for the month and continued on a downward trend and equal to Dec’08. Down 30% from last January.

Average Days on Market – 37 which is 5% less than a year ago. Houses 55. Townhomes 42 and condos take 23 days to sell.

Percentage of Original Price – houses sell at 96% , which is 6.6% less than a year ago. Townhomes sell at 101% which is equal to a year ago and condos sell at 101% which is also equal to a year ago.

Sales to Active Ratio – 16% overall which is 50% less than a year ago. Only 8% of houses listed are selling 22% of townhomes and 41% of condos.

Average Sale Price – levelled at $900,000 but houses continue to drop, now down to $1.393.000 , compared to $1.447.000 the previous month and 7.5% less than a year ago. Townhomes sit at $731,000, down from $814,000 the previous month and 7.5% less than a year ago. Condos are $580,000, up 31% from a year ago and up from $543,000 in Dec’16.

Dollar Volume – continues to decline and is now 36% less than a year ago. The lowest it’s been since Nov’12.

View the average sale price graph for the last 5 years

as per stats from REBGV Feb 3/17.

put my decades of hyper-local knowledge to work for you!

 

by Maggie Chandler Maggie Chandler No Comments

Only Vancouver’s West Side House Prices Decline January 2017 And Overall Sales Drop

Vancouver’s West Side House Prices decline in January 2017 as did sales, but listings saw an uptick..

Listings – House listings are 595, up 14% from a year ago. Townhomes are 87, down 10% from a year ago and condos sit at 691 which is 15% less than a year ago. 1373 listings in total, which is 4.6% less than a year ago.

New Listings – January saw 862 new listings which is 10.7% less than a year ago.

Sales – totalled 269 for the month, a drop of 42% from a year ago and equal to October’08.  Only 37 West Side house sales for the month, a 72% drop from Jan’16 and down from 64 in December. Condos had 213 sales, a 30% drop from a year ago and townhomes had 19 sales, a 38% drop from a year ago. This is the lowest month for sales since Dec’12.

Average Sale Price – for all property types is down 27% from a year ago and equal to Feb’13. Houses topped in July’16 at $4.2M and are down to $3.4M, a 10% decline from a year ago. Townhomes and condos are more stable. Townhomes sit at $1.16M which is 6% higher than a year ago and condos sit at $843,000, also 6% higher than a year ago. Overall the average sale price is now equal to Sept’15 and is due to the drop in houses.

Best Selling Price Range – for condos 4500,000-$600,000. Townhomes $1.3-$1.4M,  houses over $3M.

Days on Market – 35 overall. Houses averaged 51, townhomes 28 and condos 33

Sales to Active Ratio – only 6% for houses compared to the peak the in May last year when it was 30%. Townhomes are 21% and condos 30%

Percentage of Original Price –on average houses are selling at 95%, townhomes and condos are 98.5%.

Dollar Volume – total dollar volume is down 58% from a year ago and the lowest its been since Dec’12.

as per REBGV stats feb 2/17

put my decades of hyper-local knowledge to work for you!

by Maggie Chandler Maggie Chandler No Comments

Greater Vancouver Real Estate Prices and Sales Decline in January 2017

Greater Vancouver’s Real Estate prices and sales decline in Janaury 2017. Overall the average sale price is down 19% from a year ago ($1.106.000 to $881.900)  Listings turned up slightly. The market is returning to being better balanced.

Listings – were 6,482 in December and moved to 7,421 in January. They are 0.9% less than a year ago.

New listings -increased in January but are 7% lower than a year ago.

Sales peaked in Mar’16 at 5,067 and January had 1,503, a 39% decline and equal to Jan’12.  Houses are down  57% from a year ago, townhomes 31% and condos 24%. The market hit bottom in January 2009 with 746 – after the Wall Street Crash.

Sales to active ratio is only 10% for houses,  28% for townhomes and  37% for condos. Analysts say that upward pressure on prices occurs when the ratio is above 20% and downward pressure when is it below 12%. The peak was March at 65%, currently it is 23% overall and is down 38% from a year ago.

Best Selling Price Range – condos $300,000-$500,000. Townhomes $500,00-$600,000 and houses over $900,000-$1M.

Average days on market sits at 43 and continues to climb.  Houses are taking the longest to sell, with an average of 58, townhomes are 43 and condos 35  The peak was January 2009 with an average of 76 days to sell and the bottom was June 2016 at 22.

Percentage of original price – houses sit at  95%, townhomes at 98% and condos at 98%. April was the top at 104% and it now sits at 97.5%. Dec’16 was the bottom

Dollar volume hit a record in March this year at 1,587,730,189 and has been on a downward trend since, now at  1,325,618,338, a 50% drop from a year ago

put my decades of hyper-local experience to work for you!

updated November 5, 2016 as per REBGV stats

by Maggie Chandler Maggie Chandler No Comments

Downsizing from a Vancouver house to a condo. What are the challenges?

Downsizing from a Vancouver house to a Vancouver condo is something that primarily comes with becoming empty nesters or assists in facilitating travel and/or retirement plans. There are a lot of factors that can make this transition challenging some of which are emotional and others purely practical and logistical. Downsizing your living space is a process that forces you to do a lot or re-evaluating of spaces and belongings in your life. This process of purging can be very difficult, however, what you’re left with often becomes all you need and the new adventure you’re left with make it easy not to look back for what you’ve given up. It’s a new adventure in life and one that many Vancouver Baby Boomers are currently dealing with or considering. Think of the fun  you’ll have when you lock your condo door and set out on a different life adventure!

The process of purging can often have a bit of a slow start. The decision to get rid of a certain knickknack you’ve had on your bathroom windowsill for 10 years can feel like an impossible one. The justification as to why it should come to the smaller space can seem like an easy one. As the process continues, it becomes much easier to make the cuts. When asking yourself questions about these items such as “what’s the sentimental meaning attached with this item?” “when was the last time I used this or even looked at it with a sense of joy“ “If I lost it in the move would I even notice?”. The answers to these seemingly tough questions get easier and easier and eventually you barely have to think about it, and can even become a bit ruthless. This natural progression of the eliminations getting easier is a reason why it’s a good idea to give yourself the time to do more than one round of purging. Even being open to purging as you unpack on the other end isn’t a bad idea. You may find things that you forgot about in the couple of weeks they were packed away in the corner. If your heart doesn’t flutter when you pull if out of that box…leave it in the box.

You cannot start too early when it comes to clearing out an entire house. Tackle one room at a time so it doesn’t feel overwhelming. You can even start as small as one closet or shelf at a time. By starting early and giving yourself the time you need to clear-out a home you’ve most likely lived in for a large portion of your life, you also give yourself time to go through your belongings more than once, you may find the items that made the cut while you were just getting started, no longer speak to you in the same way once you’ve found your groove with clearing out and have a more ruthless lens. This also gives you a chance to go through the process properly and not feel rushed, which will help you avoid purging precious items and holding on to hunks of junk that have got to go!

The emotional aspect of downsizing and purging can be challenging because of the moments you’re forced to have with belongings you’ve just always had the space for and not considered their true value. Moving is never easy and people do it for all kinds of reasons, however, downsizing from your Vancouver home to a Vancouver condo can be one of the hardest versions of moving. When you’re young and entering the housing market there’s the common goal of aiming for a larger home to inhabit longer term. Something with some outdoor space, space to have a family, entertain and throw parties, as well as, something in a neighborhood with a sense of community and a space to build on that. A large family home is often the peak of the mountain when climbing your way through the housing market. This ascent to owning your “dream home” is a big reason leaving the home you may have worked the majority of your life for, is particularly challenging. It can truly signify the end of an era for a family. The kids have moved out, you’re ready to retire and spend more time travelling and less time maintaining a property. You spent all of that time convincing yourself you needed the house and the space and now you’ve reached the flip side of that where you’re convincing yourself you don’t need the extra space and excess of belongings. It can be a mix of emotions which land on both sides of sadness and excitement. It’s a trade of items and space for time and travel that can be tough. The time it takes to let that settle in varies, however, when you come out the other side, you’ll feel lighter and ready for the next adventure!

The more practical side of downsizing from a house to a condo can also be a very helpful thing to focus on while dealing with the emotional challenges. It can actually become a really fun challenge to make for yourself. You have to decipher which items are the going to be the most useful for your new smaller space. Can you find furniture that is equally confortable but maybe more compact? Are there small appliances you don’t use very often and could probably live without? How is entertaining in the space going to change? How are the activities you did in your backyard going to transfer to your balcony, patio or smaller backyard space? There are answers to all of these questions and not all of the answers are bad ones. Things in a smaller space aren’t necessarily worse, they’re just different, and finding hacks to make a considerably smaller space as functional and aesthetically pleasing as your previous one can be a very satisfying part of the process.

Let Maggie help you make the move! *SRES* (Senior Real Estate Specialist). Decades of hyper-local knowledge!

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