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Kitsilano Real Estate and Neighborhood Profile

Kitsilano, aka Kits, is one of Vancouver’s most prominent neighborhoods. It’s an area nearly everyone in Greater Vancouver Area is familiar with and often frequent. Kits has lots to offer not only in terms of proximity to the beach, but it has great shopping, local pubs and restaurants, coffee shops galore, parks, access to public transit and the False Creek Ferry, as well as, a varying assortment of types of properties to inhabit.

Like most neighborhoods in the city Kits has changed a great deal over the years. However, its transformation may be one of the most noticeable compared to some of the up and coming Vancouver neighborhoods further east. From its humble beginnings in the 1960s, beachside Kits was Vancouver’s Hippyville. Hippies were attracted by the low rents and variation in small businesses and unique restaurants for the time. West 4th Ave was nicknamed Rainbow Road, which was filled with vegetarian restaurants (The Naam being one of them) and music and record shops. This changed in the 1980s when the Yuppies moved in, or maybe the existing Hippies simply transformed into Yuppies?! This was spurred by the popularity of the area which inevitably created higher rents and therefore attracted a less Hippie-like demographic. This progression from Hippyville to Yuppieville is something that is still evident today. You still see the odd old school Hippie resident; however, they’re certainly outnumbered by the yuppies and their upper scale restaurants and expensive retail shops.

The Shopping in Kits is popular because of the variation. You can find a bit of everything! There’s your standards like Starbucks and David’s Tea for those who like the consistency of the bigger brands, however, for those who like to support a local business and pine for something different, there’s Arbutus Coffee which is tucked away off west 4th in a heritage building or Culprit coffee that offers gluten-free everything and homemade almond milk. The same contrast applies to the retail locations; you can shop a big box stores like Urban Outfitters or find something a bit different like a Coco’s Boutique or Miz Mooz Boutique. You truly can have it all in kits!

The Kits area is not only known for mooching around shops and stopping in at the occasional café, it also has a great deal of recreational activities to spark your cultural interest and get you outside in the sunshine. Kits Beach is one of Vancouver’s busiest beaches, it has a stunning view of the West End and Downtown, along with beach volleyball nets, a playground and a couple of very sweet patios to kit up after your day at the beach. Kits Pool is an outdoor heated salt water pool, which is 150 yards long and has the same stunning views of the mountains and city. Along with the volleyball courts on the beach there are also tennis and basketball courts, which are a great way to stay active and embody the Kitsilano lifestyle. If you’re not so much of an organized sports person you can take it easy and stroll along the seawall, take in the views and end up on a beautiful patio on Granville island in less than half an hour.

Kits is home to some of Vancouver’s best attractions including the Museum of Vancouver, H.R. MacMillan Space Centre, and the Vancouver Maritime Museum, as well as being the venue for the Bard on the Beach, a Shakespeare festival that runs from June to September each year. Kits is also host to a number of community festivals over the course of the summer including; Greek Days on West Broadway, the Khatsalano Street Festival lining West 4th Ave, and the Children’s Festival that takes place in tents along Vanier Park. One of the highlights of the summer in Kitsilano is the fireworks display that’s put on every year in August. People set up early in the day to snag a sweet spot and then hangout on the beach with a picnic the occasion sneaky glass of wine or beer. This is one of the events that truly bring together the city.

Now that you know about all the amazing things you can get up to in the Kitsilano area, you need to find somewhere to live that suits your fancy and your budget! The neighborhood offers an assortment of properties. Old character houses – Carriage Homes which originated in California and originated in the UK – or new houses, townhomes and half duplexes; where you share a 33-foot lot with one neighbor and primarily located west of Macdonald and north of W. 4th. Condos consist of four story wooden frame buildings from the 1970s and 1980s that commonly offer spacious living rooms and bedroom and your standard galley kitchen. Or there’s the option of a newer midrise concrete building that may offer a small outdoor space as well as amenities and underground parking. A popular neighborhood is Arbutus Walk which was developed in the late 1990s and is west of Arbutus, south of W. Broadway and north of W. 12th Avenue this area is known for beautiful and distinctive buildings.  The abundance of parks, playgrounds and green space. Also popular are condos north of West 4th avenue, which offer a wonderful seaside location. This part of Kits was developed in the early 1900s by the Reifel Brothers who built a brewery on W. 12th and Yew and was instrumental in having the CN Rail extended from Downtown. They also filled in Connaught Park, which was a bog.

Despite being a bit of a destination for tourists and locals alike, Kits is still very much a neighborhood. You get a mix of UBC students renting basement suits, family homes, and just about everyone has a dog. The area has four public elementary schools and one public secondary school as well as four independent schools. There’s also the Kitsilano Public Library which is very accessible and just off Broadway and Macdonald. Kits is very walkable with all the amenities you could ever need as well as a couple of great pubs and mountain views galore!

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by Maggie Chandler Maggie Chandler No Comments

Vancouver’s West Side Prices & Sales Climb But Listings Decline in February 2017

Vancouver’s West Side Prices & Sales Climb But Listings Declined in February 2017. Real estate sales peaked in March/April last year and have been declining until January.

Listings – total West Side listings dropped from 1423 in January to 1396 in February. A year ago they were 1594. In Feb’14 there were 2694 properties listed for sale. Listings peaked in October 2008 at 4,121.

Sales climbed from 268 in January to 493 in February.  Houses went from 37 to 93 – are the foreign investors back? Townhomes went from 19 to 32 and condos went from 212 to 368. March 2016 was a record for sales at 981. There are still lots of multiple offers in the condo market, just not enough listings to satisfy the demand.

Sales to Active Ratio only 15% for houses, 30% for townhomes and 53% for condos. Only 15% of houses are selling, giving house buyers by far the best selection.

Average Sale Price houses sit at $3.7M.  Townhomes $1.5M, up a whopping 27% over the last year.  Condos are $855,00, up 8.6% over the last year. Both townhomes and condos are at a record high level. A year ago houses were $3.7M, townhomes $1.183M and condos were $787000. Overall average sale price is equal to Feb’14.

% of Original Price  houses sold at 96% of list price, townhomes at 101% of list price and condos at 100% of list price. All property types are lower than a year ago.

Days on Market houses took an average of 35 days to sell, townhomes 24 and condos 21 days

Dollar Volume increased for all property types and is almost half of what it was a year ago. It is also less than Feb’14 and Feb’15.

Best Selling Price Range – houses over $3M, townhomes between $1.6M & $1.7M and condos between $500,000 & $600,000. YTD there have been 71 house sales over $3M, 2 townhomes and 9 condos.

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by Maggie Chandler Maggie Chandler No Comments

Canada’s GDP Growth Expands to 2.6%

March 3, 2017 from RECBC

The Canadian economy expanded at a 2.6 per cent annual rate in the fourth quarter, beating expectations of 2 per cent growth.  Economic growth continues to be led higher by strong household consumption spending, though an uptick in exports was also a significant contributor. Due to a slow start to the year and disruptions caused by the Alberta wildfires,  the Canadian economy grew just 1.4 per cent overall in 2016.
 
There are clear signs of momentum in the Canadian economy, with strong hiring and economic growth over the past six months and we expect the Canadian economy will post significantly stronger growth in 2017 about 2.1 per cent.  That rate of growth should be enough to put the economy on a path toward eliminating excess slack in the economy by mid 2018, pushing inflation back to its 2 per cent target. If so, we expect the Bank of Canada may consider raising its overnight rate early next year while long-term rates and mortgage rates may creep higher in 2017. 
 

 

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!

by Maggie Chandler Maggie Chandler No Comments

Vancouver’s Luxury Condo Sales Hit a Record High in 2016

Vancouver Luxury condo sales (over $3M) hit a record high in 2016 at 100, compared to 69 for 2015.

2015 had 13 sales over $5M. The most expensive was the Penthouse at 1480 Howe Street – Vancouver House pre-sale  – which sold for $8.8M for 3,252sf. The top floor in this condo building which is due for completion in 2019 is one of many top floor suites. It is a three bedroom with amazing outdoor space totalling 2,300sf. The list price was $9.488.000. Average sale price was $4.3M and it took an average of 52 days for these luxury condos to sell.

2016 had 28 sales over $5M, The average sale price of $4.650.000 and it took an average of 57 days for these luxury condos to sell.  80 of the 100  sales over $3M last year occurred before July 31st. The most expensive sale was $16.6M for 6,000sf Penthouse at Two Harbour Green on Coal Harbour’s waterfront – 1139 W. Cordova. Imagine the stunning water and mountain views!

What neighbourhoods had the most luxury condo sales? In 2016, 50 of them were in Coal Harbour and 18 in Yaletown, 10 in the West End, 10 in Downtown, 6 in False Creek and 2 in Fairview and 2 in Kerrisdale

Currently there are 36 listings for West Side condos over $3M. How will the foreign buyer’s tax effect this market? Least expensive is 1051sf 2 bedroom on 58th floor at Trump Tower listed at $3M. Most expensive is 3900sf at Kings Landing, 428 Beach Ave., listed at $8.9M. It’s been on the market for 477 days!.

In 2001 there was only one West Side condo which sold over $3M – a Penthouse on Bayshore Drive. Between January 2002 and December 2005 there were 22 sales on MLS.

Back in the Winter Olympics Year of 2010 there were only 36 Vancouver West Side condos that sold over $3M and only six sales over $5M. Average sale price was $3.985.000, with an average days on the market of 85, versus 57 for the sales in 2016.

  • 2010 had 36 sales, average sale price $3.985.000
  • 2011 had 49 sales
  • 2012 had 34 sales
  • 2013 had 42 sales
  • 2014 had 39 sales
  • 2015 had 69 sales
  • 2016 had 100 sales, average sale price $4,650,000

Have a Vancouver condo question? Put my decades of hyper-local knowledge to work for you! Call Maggie 604-328-0077

 

by Maggie Chandler Maggie Chandler No Comments

Metro Vancouver Real Estate Prices Up in October but Sales and Listings Down

Metro Vancouver Real Estate Prices Up in October but Sales and Listings Down.

Real estate sales were 15% below the 10 year October average. House sales clocked in at 2,233 which is a 38% drop from a year ago and 0.9% lower than September. House sales were 652, down 54% from a year ago. Townhomes sales were 39% lower than a year ago and condos were also 39% less than a year ago. Towhome sales were up a tad from the previous month but houses and condos declined.

New  listings were 9.5% below the 10 year average for the month and were also lower than September.

Total listings clocked in at 9,143, down 4.5% from a year ago and 2.3% lower than the previous month.

Sales to active listings ratio was only 24% – meaning that only 24% of listings sold. Analysts say upward pressure occurs when the ratio surpasses 20% and downward pressure when the ratio is less than 12%. The ratio was down slightly for townhomes and flat for houses and condos.

Average days on the market was 21 for houses, 12 for townhomes and 11 for condos. Compared to the beginning of the year only houses have increased.

Average percentage of original price declined for all types of Metro Vancouver properties. Houses are currently selling at 95% of original price, townhomes and condos at 99%.

Dollar volume is way down for houses – 52% lower than a year ago. Townhomes are down 29% and condos 12%.

Average sale price – houses peaked in February at $1.811.000 and is now down to $1.619.000. Townhomes peaked in July at $735,000 and now sit at $681,000. Condos peaked in July at $573,000 and now sit at $572,000.

Houses increased from $1,541,000 in September to $1,649,000 in October. Townhomes dipped from $721,000 to $681,000 and condos increased from $549,000 to $562,000.

The affordability factor is benefiting townhomes and condos.

View the 10 year average sales price for houses, townhomes and condos.

View the 10 year sales graph

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by Maggie Chandler Maggie Chandler No Comments

Why Yaletown is My Favourite Vancouver Waterfront Community

What makes Yaletown Vancouver’s best waterfront community?

Yaletown has been a prevalent area in Vancouver since it was founded during the Fraser Canon Gold Rush in the 1880’s when it originally functioned as an entry point for the Railway, connecting the area to the town of Yale. The area was initially industrial, however, as the Yale railway workers began to settle at this end of the line. They soon established housing close to the water, and soon gave the area reason to acquire its name. The reasons for choosing this waterfront community shifted from industrial to urban when the city hosted Expo 86 and has continued to establish its role as one of the city’s most desirable communities that it continues to exemplify today.

Yaletown has nearly everything a Vancouverite could ask for, and if it’s not in Yaletown itself, it’s certainly easy to access in one of the many neighboring areas. Being the first stop in the downtown area on the Canada line is definitely the area’s biggest asset in terms of accessibility to the rest of the city. Along with being walking distance to Gastown, The Westend, City Center and a short Aquabus ride across the river to Granville Island and Olympic village. The beauty of accessing all of these areas, is not only are they walking distance, but you can walk along the seawall on the waterfront and take in the city while reaching your destination.

It’s not be hard to accomplish everything on your to do list with ease within the Yaletown area. It truly has everything within a few urban blocks. From locally owned grocery stores such as Choices, Nesters and Urban Market; to Dentists, Doctors, Drugstores and fantastic boutique shopping. What makes Yaletown different when checking things off your errands list, is that there truly is a great balance between one of a kind locally owned businesses and the familiar spots you can also find throughout the city. You can go from grocery shopping for local produce, to happy hour with microbrew beers at The Yaletown Brewpub, to browsing for housewares in a local boutique such as The Cross, to eating your favorite familiar entree and cocktail at Earls. The amount of choice and variation the area offers is a huge perk for people living in the community, you’re never stuck going to the same old spots…unless of course you want to!

The community is definitely a destination for spectacular dining and lounge-like night life. The elevated brick promenades are lined with restaurant after restaurant, all welcoming you in with heated patios and nearly every style of cuisine a Vancouverite could ask for. It has a reputation for having an elevated atmosphere as a community. Things just seem a little swankier on a Yaletown patio with a group of friends out to treat themselves. There is certainly beauty in the balance of the community. During the day there are families who live in the community taking advantage of all it has to offer, including neighbourhood schools.

Not only does the area have a couple of great urban green spaces tucked in between the stunning glass high rises, it’s home to the spectacular David Lam Park. The home of the Vancouver Jazz Festival, Cinema Under the Stars, outdoor concerts and outdoor spaces to play any sport or outdoor activity you can dream up. The park lines the waterfront offering vast green spaces to picnic, along with a variation of courts and a large portion of the seawall where cyclists, runners, roller bladers and people simply out for a relaxing stroll pass each other and take in the beautiful waterfront Yaletown is known for. The seawall is no more than a couple of blocks from residential areas of the neighborhood, so it doesn’t take much to effort to get outside and take in the water you can most likely see from your apartment living room. This accessibility to the water makes the element of being waterfront that much more relevant for people who choose this balanced urban community home.

The waterfront definitely has you covered for the warmer and dryer Vancouver months and the abundance of fitness studios have you covered year round. When it comes to fitness, you name it, Yaletown’s got it! Pure Barre, Crossfit, Yoga, Hot Yoga, Spin, and a Dance center; combined with everything the Roundhouse Community center has to offer, Yaletown makes it hard to justify those excuses for skipping the workout. Health and fitness tend to come hand in hand in general, and Yaletown definitely has them both. After your workout, it’s super easy to grab a smoothly or juice or even hit the salad bar to round off a healthy day. It’s hard not to feel inspired to get moving when you have everything to facilitate a healthy lifestyle at your fingertips.

Another element of balance that the area embodies is in the Heritage buildings and architectural aesthetic. Roundhouse Community Center being front and center on Pacific Boulevard with the old engine turntable as a small outdoor amphitheater. In another tribute to the rail history of the area, it also houses Engine 374, which pulled the first passenger train into Vancouver in 1887. Accompanying the elevated brick promenade are streets of buildings from the area’s industrial days, Hamilton and Mainland being the most prevalent. Along with many of them being converted to modern living spaces on the inside, there are also a great deal of office spaces which were established during the dot com boom and continue to function as office spaces above the rows of restaurants. Many are designated Heritage by City of Vancouver. These buildings are surrounded by glass high-rise apartment buildings that embody the modern feel of the downtown community. Depending on the look and feel of the condo you’re looking for, it’s not hard to find either option on the streets of Yaletown, from cool heritage lofts to studios to amazing Penthouses with astounding water, city and mountain views. Waterfront living at its best!

by Maggie Chandler Maggie Chandler No Comments

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 housing demand across most regions of the province offset slowing home sales in Vancouver last month,” said Cameron Muir, BCREA Chief Economist. “The newly introduced 15 per cent foreign buyer tax combined with the 3 per cent property transfer tax on homes over $2 million brought in earlier this year, slowed demand at the top end of the market in Vancouver last month.”

“The decline in the average home price was due to a change in the composition and location of homes sold in the province,” added Muir. “Fewer sales of high priced detached homes relative to all other homes sales in Vancouver as well as fewer Vancouver home sales relative to the rest of the province has caused the average price statistic to decline.”

Year-to-date, BC residential sales dollar volume increased 39.1 per cent to $61.6 billion, when compared with the same period in 2015. Residential unit sales climbed by 22.1 per cent to 86,206 units, while the average MLS® residential price was up 13.9 per cent to $714.400.

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by Maggie Chandler Maggie Chandler No Comments

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 property nears the end of its life cycle,” said Hon. Rich Coleman, Minister of Natural Gas Development and Minister Responsible for Housing.

“We don’t want strata owners to be stuck in a situation where they’re paying for repairs on a property not worth repairing, but they can’t terminate the strata because it’s really difficult to get a unanimous vote,” said Minister Coleman.

Tony Gioventu, executive director of the Condominium Home Owners’ Association thinks the new regulations are a positive step.

“This benefits strata corporations considering liquidation of their buildings for redevelopment,” Gioventu said.

by Maggie Chandler Maggie Chandler No Comments

What’s the Average Price Per Square Foot for Vancouver (West) Real Estate?

What’s the average price psf for Vancouver homes, townhomes and condos over the last two years? what are prices doing?

Houses and condos are up and townhomes are down a tad. In fact the average price psf for condos is now higher than townhomes.

Why? i’d make a guess that they’re more luxury condos selling than a few years ago.

Average Price Per Square Foot for Vancouver West.

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Sales Volume Drops but Greater Vancouver House Prices Rise in Feb’12

Housing sales within the Real Estate Board of Greater Vancouver fell 17.8 percent in February over the same month in 2011. However, they’re still up 2.9 percent over the February 2010 figure.

In a news release issued by the REBGV, president Rosario Setticasi said that the sales-to-active-listing ratio remains over 18 percent, which suggest “balanced conditions in our marketplace as we move into the traditionally busier spring speason”.

Some experts say downward pressure on housing prices kicks in when the sales-to-listing ratio falls below 15 percent.

The multiple-listing-service benchmark price for all properties in the region was $670,900 in February, which is up six percent from February 2011.

The benchmark price of an apartment on Vancouver’s East Side was $306,300, whereas it was $470,500 on the West Side. In Burnaby, apartment prices ranged between $343,200 to $377,200, depending on where they were sold in the municipality. In New Westminster, the benchmark price of an apartment was $272,000.

A surprise?

Posted on Vancouver Real Estate-Vancouver Homes For Sale

by Maggie Chandler Maggie Chandler No Comments

Are Vancouver Real Estate Sales Higher Than 2009?

What’s the volume of real estate sales for Vancouver west side over the last three years? See if the number of solds have increased or decreased on an annual basis since February 2009. View the sales for homes, townhomes and condos and see if they had an increase or decrease

Sales for Vancouver West

View my other graphs for Vancouver homes

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BC Home Sales Rise Outside Lower Mainland – Vancouver Homes for Sale

The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC dipped 7.6 per cent to $2.1 billion in January compared to the same month last year. A total of 3,976 homes traded hands on the MLS® over the same period, down 3.9 per cent. The average MLS® residential price was 3.8 per cent lower at $527,219 compared to January 2011.

Increased market activity outside the Lower Mainland in January was offset by fewer sales in Vancouver and the Fraser Valley,” said Cameron Muir, BCREA Chief Economist. MLS® Residential sales rose 7 per cent to 1,620 units outside the Lower Mainland, while declining 10 per cent to 2,356 units in Vancouver and the Fraser Valley.

“While provincial sales activity was down in January from year ago levels, consumer demand has posted modest improvement since last fall, driven by low mortgage interest rates and gradually improving economic conditions,” added Muir.

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Greater Vancouver Real Estate Sales Facts – Homes for Sale

Searching for a Vancouver home?

Want to know which suburb performed the best last year and which one has the best upside? Check out Greater Vancouver real estate sales facts.

View all of Greater Vancouver’s municipalities and check out their average price for Jan’12 vs prevous month and a year ago. Are listings up or down?

View the stats

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BC To Experience Slight Increase in Sales In 2012 – Vancouver Homes for Sale

The following report from CMHC bodes very well for Vancouver real estate in 2012. Buyers should feel confident to make an investment.

CMHC HOusing Outlook Conference predicts that the BC balanced housing market conditions experienced in 2011 will continue in 2012 with home sales rising from 77,200 to 81,900.

Greater Vancouver sales are expected to increase by 9% , from 33,000 sales in 2011 to 36,000 in 2012 and prices to increase at the rate of inflation.

Interest rates will remain stable and low Read more

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