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?

Just Listed: Michael Jackson's home on sale for $23.9 million

Not exactly M.J.'s home, but the plush Los Angeles mansion where the world's most famous pop star died is on sale for $23.9 million.

The 17,000 sq. ft. 7-bedroom, 13-bathroom property, described as the centrepiece of an “elegant and sophisticated French chateau estate,” includes its own movie theater, a gym and a pool. Sounds like better value than some homes for sale in West Vancouver!

Food Carts in Vancouver parks by Summer 2012?

 I just returned from Portland  following a short Spring Break getaway with my family, and as a dedicated "foodie" I was absolutely blown away by the mind boggling array of food trucks to choose from in and around the city. Unfortunately there were not enough days in our break to get around to trying all the ones that caught my eye and appetite! So the next time they ask me "the reason for my visit" at the border crossing I'm going to reply "food carts"!

If you too, are a fan of food carts or trucks then good news is brought to us via Tourism Vancouver's informative, multi-author blog: Inside Vancouver in an interesting article: Food Carts in Vancouver parks by Summer 2012? By Taraneh

Just Sold: 8545 Seascape Court. World Class Ocean views...

I just sold this perfect 2450 Sq. ft. townhouse property in Seascape court, West Vancouver. World class, panoramic ocean views from all floors and decks. List price $836,000. For those of you who don't know; Seascapes is a small development of townhouses just five minutes drive from Caulfeild mall & Rockridge high school. If you would like to know more about property in the Seascapes community just give me a call. 604 218 2903

Scottie's renovating West vancouver #5

With the 2011 Christmas holidays just over, I have to admit I have not managed to keep up with my friend Scottie as he completes his "from the studs up" reno on his mid-century modern home in West Vancouver's Eagle Harbour. Last time we spoke, the reno was proving even more arduous as build and reno projects for clients had naturally taken precedent over the renovation and transformation of his own home. Still, the good news is, for those of you that really care, he was able to enjoy the holidays with a fully functioning kitchen and experience the warmth and comfort afforded to him via his stunning underfloor heating system!

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.

 

Open House: 4650 Caulfeild dr. Sun. 30th

This stunning 4500 sq. ft. family home in Caulfeild is open for viewing this weekend between 2.00 and 4.00 p.m. Feel free to pass by and take a look, or just have a chat. price $1,775,000 (the chat is free!)

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

August 2011 Sales Stats: Vancouver home sales trend toward buyer's market?

Greater Vancouver home sales trend toward buyers’ market over summer

August marked the third consecutive month that home sale activity in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region has exceeded the 10-year norm every month since the beginning of the year.

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 2,378 in August. This total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third lowest total for August in the last 10 years.

“MLS® statistics continue to indicate that we’re in a balanced market,” Rosario Setticasi, REBGV president said. “However, with a sales-to-actives listings ratio of 15 per cent, Greater Vancouver is in the lower end of a balanced market and has been trending toward a buyers’ market over the past three months.”