peter townsend's vancouver real estate blog

March 2012 Vancouver Sales Stats: Has the market reached Turning point?

"Increased selection helps maintain balance in Greater Vancouver housing market"
"VANCOUVER, B.C. – April 3, 2012 – Home sales in March trended below the 10-year average in Greater Vancouver while home listing activity outpaced what’s typical for the month. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,874 on the Multiple Listing Service® (MLS®) in March 2012. This represents a 12.9 per cent increase compared to the 2,545 sales recorded in February 2012, a decline of 29.6 per cent compared to the 4,080 sales in March 2011 and an 8.4 per cent decline compared to the 3,137 home sales in March 2010."  Source REBGV press release

Translation: Sounds like the market maybe slowing and there are more high priced listings coming onto the market than there appear to be buyers with appetites...

The recent press release from the REBGV gives a nicely worded "balance" to the whole current market status. "Fluffy & "friendly, without upsetting anyone" must be their mantra. But is the Vancouver bubble about to burst?

January 2012 Sales Stats

Selection broadens and demand eases to kick off 2012 in the Greater Vancouver housing market

Greater Vancouver home sellers were more active than buyers in January and overall home prices, according to the new MLS® Home Price Index (MLS® HPI), continued to experience more stability and less fluctuation compared to the beginning of 2011.

2012...end of the world? 7 trends impacting housing

December 2011 Year End Market Update REBGV

 

2011 Sales Stats: A Tale of Two Cities

Depending on where you live in Vancouver, this year has been a real Tale of Two Cities: little or no growth in value in areas like Coquitlam, Pitt Meadows & New Westminster. Value & price reductions in Squamish for the second year. A little sales action on the Sunshine coast & Whistler... but nothing really too jump  & shout about, and as we all know, high double digit increases in Burnaby, Vancouver West, and North & West Vancouver!

However the  15.8% increase in the average bench mark price for a detached house in West Vancouver in 2011, is almost entirely due to the sale of properties between the Lions Gate bridge and Caulfeild. West of Caulfeild seems to be a slightly different tale of activity. Susbsequently residents of "West" West Vancouver should be considering their strategy and their target demographic a little differently if they wish to sell this year. If you would like to know more about my ideas on this, please give me a call. 604 218 2903

For those of you who just wish to know the numbers for the year read on!...probably just before going to bed....

November 2011 Sales Stats: REBGV says: "it's a balanced market..."

Historically normal activity keeps the Greater Vancouver housing market in a balanced state?

The Greater Vancouver housing market saw relatively typical home sale and listing activity in November. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This represents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the 2,317 sales recorded in October 2011.

Sold 5745 Westport court, Eagle Harbour

This wonderful 5200 sq. ft. family home in Eagle Harbour has just sold to clients who recently sold their home in Dundarave. However, this home was one of only 13 homes priced above $1.4 million to sell in the Eagle Harbour area so far this year, and one of only 4 homes to sell priced over $1,750,000 in Eagle Harbour in 2011.

 

October 2011 Sales Stats: Balanced market?

Greater Vancouver at lower end of balanced housing market

With a sales-to-active property listings ratio of 15 per cent, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years.

“Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said. “Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.”

Just Listed: 4650 Caulfeild drive. $1,775,000

Spacious family residence on a large gated property in the heart of desirable Caulfeild. Extensively updated to discerning standards, this traditional home offers a gourmet kitchen and large principal rooms overlooking sunny decks and a professionally landscaped and fenced south-facing yard. With 4450 sq. ft. of living space over 3 levels, 1327 sq. ft. of decks and patios, 5 bedrooms, 4 baths and plenty of storage, this home provides all the space a large active family needs in a central, yet private, setting. A sought-after location, close to Caulfeild elementary school, Caulfield Village shopping and Rockridge high school. Offered at $1,775,000

September Sales Stats: Home listings continue to rise...

Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010. Those sales also rank as the third lowest total for September over the last 10 years.

“There's more competition amongst home sellers in today's market, providing more options for prospective buyers," Rosario Setticasi, REBGV president said."Buyers now have more properties to choose from and more time to make decisions compared to the spring season.”