Friday, December 12, 2008
West Vancouver & North Vancouver Sales & Listings Graphs
These graphs display how New Listings have been decreasing in recent weeks- likely due to the Holiday Season, as well as the resistance for Homeowners to list their homes in a slower market. Sales, while slower than 2007, continue to occur as Real Estate economics dictate home dwellers necessity for housing and desire to live on The Northshore. Recent sales, however, are occurring at extremely discounted sale prices when sellers are motivated and buyers are utilizing low interest rates to capitalize on pricing more in par with 2006 averages. For all your Vancouver Real Estate needs and questions contact Stuart Bell at 604.562.0532.
Tuesday, December 2, 2008
Vancouver Real Estate Statistics - November 2008
FOR IMMEDIATE RELEASE:
Slow home sales create window of opportunity
VANCOUVER, B.C. – December 2, 2008 – November reductions in home sales and prices have helped improve affordability in Greater Vancouver. However, November also saw a corresponding decrease in the number of new homes coming onto the market.
In its most recent statistics release, the Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 69.7 per cent in November 2008 to 874 from the 2,883 sales recorded in November 2007.
Residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 12.8 per cent between May and November 2008, amounting to an 8.3 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between November 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $495,704 in November 2008.
“Times of turmoil, from which we always emerge, offer excellent opportunities to buy quality real estate,” says REBGV president, Dave Watt.“For those whose personal finances allow them to get involved, there are opportunities in today’s housing market that have not been seen in many years.
“The local real estate market is not immune to the current economic challenges globally; however, Canada’s disciplined lending structure has kept the mortgage landscape steady in these uncertain times.”
New listings for detached, attached and apartment properties declined 10.8 per cent to 3,012 in November 2008 compared to November 2007, when 3,377 new units were listed. Active listings in November declined 4.7 per cent to 18,348 from the 19,257 active listings in Greater Vancouver in October 2008.
Sales of detached properties in November 2008 declined 69.8 per cent to 322 from the 1,067 units sold during the same period in 2007. The benchmark price for detached properties declined 8.6 per cent from November 2007 to $666,525. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 13.6 per cent.
Sales of apartment properties declined 67.9 per cent last month to 410 compared to 1,276 sales in November 2007. The benchmark price of an apartment property declined 8.6 per cent from November 2007 to $342,315. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 12.2 per cent.
Attached property sales in November 2008 decreased 73.7 per cent to 142, compared with the 540 sales in November 2007. The benchmark price of an attached unit declined 6.4 per cent between November 2007 and 2008 to $426,287. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 11 per cent.
Slow home sales create window of opportunity
VANCOUVER, B.C. – December 2, 2008 – November reductions in home sales and prices have helped improve affordability in Greater Vancouver. However, November also saw a corresponding decrease in the number of new homes coming onto the market.
In its most recent statistics release, the Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 69.7 per cent in November 2008 to 874 from the 2,883 sales recorded in November 2007.
Residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 12.8 per cent between May and November 2008, amounting to an 8.3 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between November 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $495,704 in November 2008.
“Times of turmoil, from which we always emerge, offer excellent opportunities to buy quality real estate,” says REBGV president, Dave Watt.“For those whose personal finances allow them to get involved, there are opportunities in today’s housing market that have not been seen in many years.
“The local real estate market is not immune to the current economic challenges globally; however, Canada’s disciplined lending structure has kept the mortgage landscape steady in these uncertain times.”
New listings for detached, attached and apartment properties declined 10.8 per cent to 3,012 in November 2008 compared to November 2007, when 3,377 new units were listed. Active listings in November declined 4.7 per cent to 18,348 from the 19,257 active listings in Greater Vancouver in October 2008.
Sales of detached properties in November 2008 declined 69.8 per cent to 322 from the 1,067 units sold during the same period in 2007. The benchmark price for detached properties declined 8.6 per cent from November 2007 to $666,525. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 13.6 per cent.
Sales of apartment properties declined 67.9 per cent last month to 410 compared to 1,276 sales in November 2007. The benchmark price of an apartment property declined 8.6 per cent from November 2007 to $342,315. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 12.2 per cent.
Attached property sales in November 2008 decreased 73.7 per cent to 142, compared with the 540 sales in November 2007. The benchmark price of an attached unit declined 6.4 per cent between November 2007 and 2008 to $426,287. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 11 per cent.
Thursday, November 20, 2008
Weekend Open's Nov 21-23
Friday November 21st- The Properties By Quigg - 2225 Twin Creek Road
The most exclusive residences in West Vancouver are at The Properties by Quigg in Whitby Estates. Enjoy panoramic views from Mt Baker to Vancouver Island from every room, highlighted by floor to ceiling windows and expansive patios. These terraced homes feature high quality finishing, private elevators, terraced design for privacy and sustainability, and only the finest Miele appliances. Must be seen to be appreciated!
Open Friday Nov 21st from 2-4pm!
Saturday Nov 22nd - 1355 Sinclair St- Ambelside Contemporary
Come enjoy this gorgeous home in the heart of West Vancouver, on a secluded cul-de-sac. Completely renovated by Cragg Built Construction, this family home features new oak hardwood floors, heating bathroom tiles, new designer kitchen, new carpets and paint, a grand recreation room, a stunning master with private sundeck overlooking the sparkling pool, and exquisite new bathrooms and fire lit family room and formal dining room. Designed by Kafta, featuring a grand pool with slate tiles patio, don't miss this home!
Sunday Nov 23rd- 6840 Copper Cove- White Cliff Park
Absolutely gorgeous, completely renovated throughout, 3 bedroom, 2 ½ bathroom family home just steps to the beach and Whytecliff Park. This home features the absolute best in finishes including hand scraped white oak floors, fabulous coordinated kitchen with Brazilian granite, wood shutters throughout, solid core doors and wonderful decorating. The gardens are beautifully designed with new spacious decks and a lovely waterfall. Gorgeous ocean views to Howe Sound make this home a wonderful opportunity.
Open 2-4 Sunday Nov 23rd!
The most exclusive residences in West Vancouver are at The Properties by Quigg in Whitby Estates. Enjoy panoramic views from Mt Baker to Vancouver Island from every room, highlighted by floor to ceiling windows and expansive patios. These terraced homes feature high quality finishing, private elevators, terraced design for privacy and sustainability, and only the finest Miele appliances. Must be seen to be appreciated!Open Friday Nov 21st from 2-4pm!
Saturday Nov 22nd - 1355 Sinclair St- Ambelside Contemporary
Come enjoy this gorgeous home in the heart of West Vancouver, on a secluded cul-de-sac. Completely renovated by Cragg Built Construction, this family home features new oak hardwood floors, heating bathroom tiles, new designer kitchen, new carpets and paint, a grand recreation room, a stunning master with private sundeck overlooking the sparkling pool, and exquisite new bathrooms and fire lit family room and formal dining room. Designed by Kafta, featuring a grand pool with slate tiles patio, don't miss this home!
Sunday Nov 23rd- 6840 Copper Cove- White Cliff Park
Absolutely gorgeous, completely renovated throughout, 3 bedroom, 2 ½ bathroom family home just steps to the beach and Whytecliff Park. This home features the absolute best in finishes including hand scraped white oak floors, fabulous coordinated kitchen with Brazilian granite, wood shutters throughout, solid core doors and wonderful decorating. The gardens are beautifully designed with new spacious decks and a lovely waterfall. Gorgeous ocean views to Howe Sound make this home a wonderful opportunity.
Open 2-4 Sunday Nov 23rd!
Thursday, November 6, 2008
News Release: October Stats
Residential housing price decline
creates buying opportunities
VANCOUVER, B.C. – November 3, 2008 – Housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 8.8 per cent between May and October 2008, resulting in a 3.9 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between Octobers 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $518,668 in October 2008.
“Home sales are not keeping pace with the positive economic conditions in BC,” said REBGV president, Dave Watt. “That’is a direct result of a loss of consumer confidence in the overall market. Accordingly, today's housing market is characterized by moderating home prices and wide selection. It’s definitely a buyer's market.”
Residential property sales in Greater Vancouver declined 55 per cent in October 2008 to 1,364 from the 3,028 sales recorded in October 2007.
Active listings totalled 19,257 in October 2008, a three per cent decline from the 19,852 active listings reported in September 2008. New listings for detached, attached and apartment properties increased one per cent to 4,867 in October 2008 compared to October 2007, when 4,819 new units were listed.
Sales of detached properties in October 2008 declined 56.5 per cent to 493 from the 1,133 sales recorded during the same period in 2007. The benchmark price for detached properties declined 4.7 per cent from October 2007 to $695,962. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 9.8 per cent.
Sales of apartment properties in October 2008 declined 52.7 per cent to 647, compared to 1,368 sales in October 2007. The benchmark price of an apartment property declined 3.5 per cent from October 2007 to $358,359. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined eight per cent.
Attached property sales in October 2008 are down 57.5 per cent to 224, compared with the 527 sales in October 2007. The benchmark price of an attached unit declined 1.4 per cent in Greater Vancouver between October 2007 and 2008 to $448,152. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 6.4 per cent.
The bottom of this slide appears to be in site. With a new US president, decreasing interest rates, and a new year with increased 2010 Olympic attention, home prices are excpected to flatten in the Spring of 2009. So for all buyers who have been patiently waiting, your window of opportunity may be closing, as today's increased inventory presents many amazing deals in fantastic locations, time to capitalize on motivated sellers. Contact Stu today for all your real estate enquiries.
creates buying opportunities
VANCOUVER, B.C. – November 3, 2008 – Housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 8.8 per cent between May and October 2008, resulting in a 3.9 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between Octobers 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $518,668 in October 2008.
“Home sales are not keeping pace with the positive economic conditions in BC,” said REBGV president, Dave Watt. “That’is a direct result of a loss of consumer confidence in the overall market. Accordingly, today's housing market is characterized by moderating home prices and wide selection. It’s definitely a buyer's market.”
Residential property sales in Greater Vancouver declined 55 per cent in October 2008 to 1,364 from the 3,028 sales recorded in October 2007.
Active listings totalled 19,257 in October 2008, a three per cent decline from the 19,852 active listings reported in September 2008. New listings for detached, attached and apartment properties increased one per cent to 4,867 in October 2008 compared to October 2007, when 4,819 new units were listed.
Sales of detached properties in October 2008 declined 56.5 per cent to 493 from the 1,133 sales recorded during the same period in 2007. The benchmark price for detached properties declined 4.7 per cent from October 2007 to $695,962. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 9.8 per cent.
Sales of apartment properties in October 2008 declined 52.7 per cent to 647, compared to 1,368 sales in October 2007. The benchmark price of an apartment property declined 3.5 per cent from October 2007 to $358,359. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined eight per cent.
Attached property sales in October 2008 are down 57.5 per cent to 224, compared with the 527 sales in October 2007. The benchmark price of an attached unit declined 1.4 per cent in Greater Vancouver between October 2007 and 2008 to $448,152. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 6.4 per cent.
The bottom of this slide appears to be in site. With a new US president, decreasing interest rates, and a new year with increased 2010 Olympic attention, home prices are excpected to flatten in the Spring of 2009. So for all buyers who have been patiently waiting, your window of opportunity may be closing, as today's increased inventory presents many amazing deals in fantastic locations, time to capitalize on motivated sellers. Contact Stu today for all your real estate enquiries.
1355 Sinclair
I am pleased to present a stunningly, completely renovated contemporary family home in Ambleside. 2800 sq ft with 4 bedrooms and 3 bathrooms featuring a sun drenched pool side patio, a grand recreation room, distinctive Kafta architectural features, and intimate privacy within a terrific family neighbourhood! Steps to schools, Hay Park, the new Community Recreation Center, Marine Drive, and the Seawall! Please join me Sunday, November 9th for a Public Open House, refreshments will be served.
Subscribe to:
Posts (Atom)
