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The market is slowly but surely improving.  As the new year begins, many people are considering a move in 2014. Please contact me anytime to discuss and/or for a free home assessment. 

 

~Helen

 

Metro Vancouver housing market characterized by modest home sale and price increases in 2013


Friday, January 3, 2014

 

The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013.

     

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.

 

“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the record-breaking years we experienced over the last decade,” Sandra Wyant, REBGV president said.

Last year’s home sale total ranks as the third lowest annual total for the region in the last ten years, according to the region’s Multiple Listing Service® (MLS®).

 

The number of residential properties listed for sale on the MLS® in Metro Vancouver declined 6.2 per cent in 2013 to 54,742 compared to the 58,379 properties listed in 2012. Looking back further, last year’s total represents an 8.1 per cent decline compared to the 59,539 residential properties listed for sale in 2011. Last year’s listing count is on par with the 10 year average.

 

“It was a year of stability for the Greater Vancouver housing market,” Wyant, said. “Balanced conditions allowed home prices in the region to remain steady, with just a modest increase over the last 12 months.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $603,400. This represents a 2.1 per cent increase compared to December 2012.

 

Residential property sales in Greater Vancouver totalled 1,953 in December 2013, an increase of 71 per cent from the 1,142 sales recorded in December 2012 and a 15.9 per cent decline compared to November 2013 when 2,321 home sales occurred.

 

December sales were 8.1 per cent above the 10-year December sales average of 1,807.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,856 in December 2013. This represents a 34.5 per cent increase compared to the 1,380 units listed in December 2012 and a 42.8 per cent decline compared to November 2013 when 3,245 properties were listed.

 

Sales of detached properties in December 2013 reached 762, an increase of 79.3 per cent from the 425 detached sales recorded in December 2012, and a 21 per cent increase from the 630 units sold in December 2011. The benchmark price for detached properties increased 2.5 per cent from December 2012 to $927,000.

 

Sales of apartment properties reached 850 in December 2013, an increase of 68.7 per cent compared to the 504 sales in December 2012, and an increase of 9.8 per cent compared to the 774 sales in December 2011.The benchmark price of an apartment property increased 1.8 per cent from December 2012 to $367,800.

 

Attached property sales in December 2013 totalled 341, an increase of 60.1 per cent compared to the 213 sales in December 2012, and a 34.3 per cent increase from the 254 attached properties sold in December 2011. The benchmark price of an attached unit increased 1.2 per cent between December 2012 and 2013 to $456,100.

 

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The 19th Annual REALTORS CARE BLANKET DRIVE is November 18-25, 2013.


Donations of Clean Blankets, Scarves, Sleeping Bags, Coats, NEW Socks & Underwear, Warm Clothing, Gloves & Hats needed.


Drop off at either our Maple Ridge (22308 Dewdney Trunk Road) or Pitt Meadows (#2 - 19126 Ford Road) offices. Bags will be available at both offices.


Please let all your clients & contacts know and please contact me anytime for more information! 

 

~Helen

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The Real Estate Board of Greater Vancouver has posted their September statistics. If you have any questions about the current housing market, please contact me anytime. 

~Helen

Sale and listing activity continues to follow historical averages

Home buyer and seller activity in the Greater Vancouver housing market continues to far outpace 2012, yet is in line with the region’s 10-year averages.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,483 on the Multiple Listing Service® (MLS®) in September 2013. This represents a 63.8 per cent increase compared to the 1,516 sales recorded in September 2012, and a 1.2 per cent decline compared to the 2,514 sales in August 2013.

 

Last month’s sales were 1 per cent below the 10-year sales average for the month, while new listings for the month were 3.5 per cent below the 10-year average.

 

“While sales are up considerably from last year, it’s important to note that September 2012 sales were among the lowest we’ve seen in nearly three decades,” Sandra Wyant, REBGV said. “Home sale and listing activity this September were in line with the 10-year average for the month.”

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,030 in September. This represents a 5.5 per cent decline compared to the 5,321 new listings reported in September 2012 and a 20.2 per cent increase compared to the 4,186 new listings in August of this year.

 

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 16,115, a 12.2 per cent decrease compared to September 2012 and a 0.5 per cent increase compared to August 2013.

The sales-to-active-listings ratio currently sits at 15.4 per cent in Greater Vancouver.

 

“It’s important to remember that stronger sales activity does not necessarily equate to rising home prices. In fact, home prices have not fluctuated much in our market this year,” Wyant said.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,900. This represents a decline of 0.7 per cent compared to this time last year and an increase of 2.3 per cent compared to January 2013.

 

Sales of detached properties reached 1,023 in September 2013, an increase of 72.2 per cent from the 594 detached sales recorded in September 2012, and a 6.9 per cent increase from the 957 units sold in September 2011. The benchmark price for detached properties decreased 1.4 per cent from September 2012 to $922,600.

 

Sales of apartment properties reached 1,018 in September 2013, an increase of 50.6 per cent compared to the 676 sales in September 2012, and an increase of 10.4 per cent compared to the 922 sales in September 2011. The benchmark price of an apartment property decreased 0.5 per cent from September 2012 to $366,600.

 

Attached property sales in September 2013 totalled 442, an increase of 79.7 per cent compared to the 246 sales in September 2012, and a 20.4 per cent increase from the 367 attached properties sold in September 2011. The benchmark price of an attached unit is currently $458,300, which is unchanged from September 2012.

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The Real Estate Board of Greater Vancouver has posted their August 2013 statistics. August was an active month in the local housing market. If you have any questions about what this means for your home buying or selling needs, please give me a call anytime! 

 

~Helen

 

The summer housing market remains active in Greater Vancouver

August activity in the Greater Vancouver housing market finished well above last year’s pace and slightly below the 10-year average for the month.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,514 on the Multiple Listing Service® (MLS®) in August 2013. This represents a 52.5 per cent increase compared to the 1,649 sales recorded in August 2012, and a 14.7 per cent decline compared to the 2,946 sales in July 2013.

 

Last month’s sales were 4.6 per cent below the 10-year sales average for the month.

 

“We’ve seen a healthy amount of demand in the marketplace this summer compared to the number of homes listed for sale,” Sandra Wyant, REBGV president said. “The market today is much stronger than we saw last year and is consistent with our long-term averages for this time of year.”

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,186 in August. This represents a 3.5 per cent increase compared to the 4,044 new listings reported in August 2012 and a 13.8 per cent decline from the 4,854 new listings in July of this year.

 

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 16,027, which is an 8.8 per cent decrease compared to August 2012 and a 3.6 per cent decline from July 2013.

 

The sales-to-active-listings ratio currently sits at 15.7 per cent in Greater Vancouver. This ratio remains consistent with balanced market conditions.

 

“People entering the market should not confuse stronger sales activity with rising prices. Home prices have been quite stable and consistent for much of this year,” Wyant said.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,500. This represents a 1.3 per cent decline compared to August 2012 and an increase of 2.3 per cent since the beginning of 2013.

 

Sales of detached properties reached 1,052 in August 2013, an increase of 69 per cent from the 624 detached sales recorded in August 2012, and a 3.1 per cent increase from the 1,020 units sold in August 2011. The benchmark price for detached properties decreased 2 per cent from August 2012 to $923,700.

 

Sales of apartment properties reached 1,018 in August 2013, an increase of 40.4 per cent compared to the 725 sales in August 2012, and an increase of 6.6 per cent compared to the 955 sales in August 2011. The benchmark price of an apartment property decreased 1.1 per cent from August 2012 to $366,100.

 

Attached property sales in August 2013 totalled 444, an increase of 48 per cent compared to the 300 sales in August 2012, and a 10.2 per cent increase from the 403 attached properties sold in August 2011. The benchmark price of an attached unit decreased 1.1 per cent between August 2012 and 2013 to $457,000.
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The Real Estate Board of Greater Vancouver has posted their statistics from last month. It seems this past July was the busiest in several years! 

 

If you have any questions about this or if you are interested in discussing the market in general, I welcome your call anytime. 

 

~Helen

July home sale activity increases in Greater Vancouver

Sunny weather did not slow the pace of home sale activity in July. Last month was the highest selling month of the year in Greater Vancouver and the highest selling July since 2009.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,946 on the Multiple Listing Service® (MLS®) in July 2013. This represents a 40.4 per cent increase compared to the 2,098 sales recorded in July 2012, and an 11.5 per cent increase compared to the 2,642 sales in June 2013.

 

Last month’s sales were 0.1 per cent above the 10-year sales average for the month.

 

“Demand has strengthened in our market in the last few months, which can, in part, be attributed to pent-up demand from the slowdown in sales activity we saw at the end of last year,” Sandra Wyant, REBGV president said. 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,854 in July. This represents a 1.1 per cent increase compared to the 4,802 new listings reported in July 2012 and a 0.4 per cent decline from the 4,874 new listings in June of this year.

 

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 16,618, which is an 8.1 per cent decrease compared to July 2012 and a 3.9 per cent decline from June 2013.

 

The sales-to-active-listings ratio rose two and-a-half percentage points between June and July to 17.7 per cent in Greater Vancouver. This is the highest this ratio has been in Greater Vancouver since April 2012.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,900. This represents a decline of 2.3 per cent compared to this time last year and an increase of 2.3 per cent over the last six months.

 

“Home prices continue to experience considerable stability with minimal fluctuation throughout much of this year,” Wyant said. “This stability in price brings greater certainty to the home buying and selling process.”

 

Sales of detached properties reached 1,249 in July 2013, an increase of 59 per cent from the 787 detached sales recorded in July 2012, and a 13.7 per cent increase from the 1,099 units sold in July 2011. The benchmark price for detached properties decreased 3.1 per cent from July 2012 to $920,500.

 

Sales of apartment properties reached 1,210 in July 2013, an increase of 31 per cent compared to the 927 sales in July 2012, and an increase of 16.3 per cent compared to the 1,040 sales in July 2011. The benchmark price of an apartment property decreased 1.6 per cent from July 2012 to $368,300.

 

Attached property sales in July 2013 totalled 487, an increase of 27 per cent compared to the 384 sales in July 2012, and a 12.7 per cent increase from the 432 attached properties sold in July 2011. The benchmark price of an attached unit decreased 2.6 per cent between July 2012 and 2013 to $456,700. 

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The June 2013 statistics have been published by The Real Estate Board of Greater Vancouver. Now is a great time to work with a REALTOR®, an expert in helping create a win/win situation for both buyers and sellers in this balanced market. 


If you have any questions or would like to discuss, please contact me anytime. 


~Helen

~~~~~~~~~~~~~~~~~~~~~~


Balanced conditions provide a stable backdrop for today’s home buyers and sellers

VANCOUVER, B.C. – July 3, 2013 – The Greater Vancouver housing market continues to maintain a relative balance between the number of homes for sale and the number of people looking to purchase a home in the region today.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,642 on the Multiple Listing Service® (MLS®) in June 2013. This represents an 11.9 per cent increase compared to the 2,362 sales recorded in June 2012, and an 8.3 per cent decline compared to the 2,882 sales in May 2013.


Last month’s sales were 22.2 per cent below the 10-year sales average for the month, while new listings for the month were 11.5 percent below the 10-year average.


“As the term suggests, a balanced market means that many of the key housing market indicators, such as price, are stable and conditions therefore don’t tilt in favour of buyers or sellers,” Sandra Wyant, REBGV president said. “If you plan to enter the market today, identify your needs, consult your REALTOR® and work to build a ‘win-win’ scenario with the people on the other side of the sale.”


New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,874 in June. This represents a 13.2 per cent decline compared to the 5,617 new listings reported in June 2012 and a 13.8 per cent decline from the 5,656 new listings in May of this year.


The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 17,289, a 6 per cent decrease compared to June 2012 and a 0.4 per cent increase compared to May 2013.


The sales-to-active-listings ratio currently sits at 15 per cent in Greater Vancouver. This is the fourth straight month that this ratio has been at or above 15 per cent.


The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,900. This represents a decline of three per cent compared to this time last year and an increase of 2.3 per cent compared to January 2013.


Sales of detached properties reached 1,102 in June 2013, an increase of 19.7 per cent from the 921 detached sales recorded in June 2012, and a 25.1 per cent decrease from the 1,471 units sold in June 2011. The benchmark price for detached properties decreased 4.3 per cent from June 2012 to $919,900.

 

Sales of apartment properties reached 1,068 in June 2013, an increase of 4.1 per cent compared to the 1,026 sales in June 2012, and a decrease of 15.6 per cent compared to the 1,266 sales in June 2011. The benchmark price of an apartment property decreased 1.9 per cent from June 2012 to $369,100.


Attached property sales in June 2013 totalled 472, an increase of 13.7 per cent compared to the 415 sales in June 2012, and a 10.1 per cent decrease from the 525 attached properties sold in June 2011. The benchmark price of an attached unit decreased 2.4 per cent between June 2012 and 2013 to $457,000. 


For more information, please visit www.rebgv.org.


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Spring months bring balance to Greater Vancouver housing market

While the number of home sales in Greater Vancouver continued to trend below the 10-year average in May, the balance of sales and listings meant continued market stability this spring.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,882 on the Multiple Listing Service® (MLS®) in May 2013. This represents a one per cent increase compared to the 2,853 sales recorded in May 2012, and a 9.7 per cent increase compared to the 2,627 sales in April 2013.

 

Last month’s sales were 19.4 per cent below the 10-year sales average for the month, while new listings for the month were 7.4 percent below the 10-year average.

 

“We’ve seen some steadying trends over the last three months,” Sandra Wyant, REBGV president said. “The number of homes listed for sale has been keeping pace with the number of property sales, leading to a balanced sales-to-listings ratio. This is having a stabilizing influence on home price activity.”

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,656 in May. This represents an 18.3 per cent decline compared to the 6,927 new listings reported in May 2012 and a 3.7 per cent decline from the 5,876 new listings in April of this year.

 

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 17,222, a 3.4 per cent decrease compared to May 2012 and a 2.9 per cent increase compared to April 2013.

 

The sales-to-active-listings ratio currently sits at 17 per cent in Greater Vancouver. This is the third straight month that this ratio has been above 15 per cent. Previous to this, May 2012 was the last time this ratio was above 15 per cent.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $598,400. This represents a decline of 4.3 per cent compared to this time last year and an increase of 1.8 per cent compared to January 2013.

 

Sales of detached properties reached 1,212 in May 2013, an increase of 2.7 per cent from the 1,180 detached sales recorded in May 2012, and a 22.8 per cent decrease from the 1,570 units sold in May 2011. The benchmark price for detached properties decreased 5.2 per cent from May 2012 to $917,200.

 

Sales of apartment properties reached 1,136 in May 2013, a decline of 1.7 per cent compared to the 1,156 sales in May 2012, and a decrease of 7.5 per cent compared to the 1,228 sales in May 2011. The benchmark price of an apartment property decreased 3.7 per cent from May 2012 to $365,600.

 

Attached property sales in May 2013 totalled 534, an increase of 3.3 per cent compared to the 517 sales in May 2012, and a 7.8 per cent decrease from the 579 attached properties sold in May 2011. The benchmark price of an attached unit decreased 3.2 per cent between May 2012 and 2013 to $454,900.

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Now may be the time to consider buying! Never have mortgage rates been so low for so long!  Buyers have such a choice of products to choose from right now in Maple Ridge/Pitt Meadow , and also experiencing relatively stable market prices !  YES, there are even some exceptional good deals to be had right now!  I don't always understand the reasons for buyers holding back when the opportunities are so good right now...with my  20 years of experience through various cyles of up and down markets, I would deem this as a good time to buy, especially for first time buyers, and those that want to upsize or downsize. Why would you wait for everyone else to start buying...that's what drives the prices up and selection down! An ideal market will be more of a balanced market... better for buyers and sellers overall and I hope that will be what we'll see for the near future. Maple Ridge/Pitt Meadows continues to be one of the most affordable areas in the lower mainland and has so much to offer. A beautiful place to live , surrounded by rivers, lakes, mountains, something for everybody. With the much improved infrastructure of the Golden Ears Bridge , Pitt Meadows Bridge and the popular Westcoast Express can make commuting a bit easier! 

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Please contact me anytime to discuss the current housing market in Maple Ridge and Pitt Meadows!

 

~Helen

 

Home sale activity improves but remains below historical averages

Lower levels of both supply and demand in recent months are holding home prices in check in the Greater Vancouver housing market.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,347 on the Multiple Listing Service® (MLS®) in March 2013. This represents an 18.3 per cent decrease compared to the 2,874 sales recorded in March 2012, and a 30.6 per cent increase compared to the 1,797 sales in February 2013.

 

Last month’s sales were the second lowest March total in the region since 2001 and 30.2 per cent below the 10-year sales average for the month.

 

“While home sales were below what’s typical for March, we are seeing more balance between the number of sales and listings on the market in the last two months, which is having a stabilizing impact on home prices,” Sandra Wyant, REBGV president said.

 

The sales-to-active-listings ratio currently sits at 15.2 per cent in Greater Vancouver, a three per cent increase from last month. This is the first time this ratio has been above 15 per cent since May 2012.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,839 in March. This represents a 17.2 per cent decline compared to the 5,843 new listings reported in March 2012 and a 0.1 per cent increase from the 4,833 new listings in February of this year. Last month’s new listing count was 14.4 per cent below the region’s 10-year new listing average for the month.

 

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 15,460, a 1.5 per cent increase compared to March 2012 and a 4.5 per cent increase compared to February 2013.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $593,100. This represents a decline of 3.9 per cent compared to this time last year and an increase of 0.9 per cent compared to January 2013.

 

Sales of detached properties reached 933 in March 2013, a decrease of 21.1 per cent from the 1,183 detached sales recorded in March 2012, and a 48 per cent decrease from the 1,795 units sold in March 2011.

 

The benchmark price for detached properties decreased 5 per cent from March 2012 to $906,900.

Sales of apartment properties reached 982 in March 2013, a decline of 17.5 per cent compared to the 1,191 sales in March 2012, and a decrease of 39.5 per cent compared to the 1,622 sales in March 2011. The benchmark price of an apartment property decreased 3.3 per cent from March 2012 to $362,100.

 

Attached property sales in March 2013 totalled 432, a decline of 13.6 per cent compared to the 500 sales in March 2012, and a 34.8 per cent decrease from the 663 attached properties sold in March 2011. The benchmark price of an attached unit decreased 2.5 per cent between March 2012 and 2013 to $454,300.

 

April 1 marked the return of the GST and PST tax structure in the province. From a real estate perspective, it’s important to remember that: 
   • sales tax on a new home is reduced to 5 per cent GST plus 2 per cent BC Transition Tax (total 7 per cent) from 12 per cent under the HST; and 
   • tax on real estate commissions has been reduced to 5 per cent from 12 per cent under the HST.

These reduced tax rates apply to transactions payable on or after April 1.
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REBGV has posted their February 2013 statistics. Please see below for details.

 

Though the housing market is moving at a below average pace, there is still lots going on in the local market. To find out how the current activity affects your buying or selling needs, please contact me anytime to discuss. 

 

~~~~

Helen

 

Home sales continue at below average pace


Home sale activity has trended below historical averages for a full year in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013. This represents a 29.4 per cent decrease compared to the 2,545 sales recorded in February 2012, and a 33 per cent increase compared to the 1,351 sales in January 2012.

 

Last month’s sales were the second lowest February total in the region since 2001 and 30.9 per cent below the 10-year sales average for the month.

 

“Sales in February followed recent trends and were below seasonal averages, though our members tell us they saw more traffic at open houses last month compared to the previous six to eight months, said Eugen Klein, REBGV president.

 

The sales-to-active-listings ratio currently sits at 12.2 per cent in Greater Vancouver, a two per cent increase from last month. This is the first time this ratio has been above 11 per cent since June 2012.

 

“With a two-point increase in our sales to active listings ratio and a reduction in the average number of days it’s taking to sell a home, February showed some subtle indications of a changing sentiment in the marketplace compared to recent months,” Klein said.

 

New listings for detached, attached andapartment properties in Greater Vancouver totalled 4,833 in February. This represents a 13 per cent decline compared to the 5,552 new listings reported in February 2012 and a 5.8 per cent decline from the 5,128 new listings in January. Last month’s new listing count was 4 per cent higher than the region’s 10-year new listing average for the month.

 

The total number of properties currently listed for sale on the Greater Vancouver MLS® is 14,789, a 5.2 per cent increase compared to February 2012 and an 11.6 per cent increase compared to January 2013.

Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 5.6 per cent to $590,400. This represents a 3.3 per cent decline compared to this time last year.

 

Sales of detached properties in February 2013 reached 704, a decrease of 36.1 per cent from the 1,101 detached sales recorded in February 2012, and a 49.8 per cent decrease from the 1,402 units sold in February 2011. The benchmark price for detached properties decreased 4.5 per cent from February 2012 to $901,500. Since reaching a peak in May 2012, the benchmark price of a detached property has declined 6.8 per cent.

 

Sales of apartment properties reached 760 in February 2013, a decline of 25.5 per cent compared to the 1,020 sales in February 2012, and a decrease of 37 per cent compared to the 1,206 sales in February 2011. The benchmark price of an apartment property decreased 3 per cent from February 2012 to $360,400. Since reaching a peak in May 2012, the benchmark price of an apartment property has declined 5.1 per cent.

 

Attached property sales in February 2013 totalled 333, a decline of 21.5 per cent compared to the 424 sales in February 2012, and a 31.9 per cent decrease from the 489 attached properties sold in February 2011. The benchmark price of an attached unit decreased 0.7 per cent between February 2012 and 2013 to $455,500. Since reaching a peak in April 2012, the benchmark price of an attached property has declined 6.5 per cent.

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Below are the January 2013 statistics from the REBGV (Real Estate Board of Greater Vancouver). 

 

Whether you are considering buying, selling, or just want to see how things are looking in your neighbourhood, I would be happy to sit down and answer your questions. Please contact me anytime.

 

~ Helen

January home sales remain quiet

Home buyer demand remains below historical averages in the Greater Vancouver housing market. This has led some home sellers to remove their homes from the market in recent months.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,351 on the Multiple Listing Service® (MLS®) in January 2013. This represents a 14.3 per cent decrease compared to the 1,577 sales recorded in January 2012, and an 18.3 per cent increase compared to the 1,142 sales in December 2012.

 

Last month’s sales were the second lowest January total in the region since 2001 and 18.7 per cent below the 10-year sales average for the month.

 

“Home sale activity has been below historical averages in Greater Vancouver for about seven months. This has caused a gradual decline in home prices of about 6 per cent since reaching a peak last spring,” Klein said.

Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 5.9 per cent to $588,100. This represents a 2.8 per cent decline compared to this time last year.

 

“It appears many home sellers are opting to remove their homes from the market rather than settle for a price they don’t want,” Eugen Klein, REBGV president said.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,128 in January. This represents a 10.9 per cent decline compared to the 5,756 new listings reported in January 2012. Last month’s new listing count was 18.9 per cent higher than the region’s 10-year new listing average for the month.

 

The total number of properties currently listed for sale on the Greater Vancouver MLS® is 13,246, a 5.6 per cent increase compared to January 2012 and a 4.5 per cent decline compared to December 2012. This is the fourth consecutive month that overall home listings have declined in the region.

 

“When a home seller isn’t receiving the kind of offers they want, there comes a point when they decide to either lower the price or remove the home from the market. Right now, it seems many home sellers are opting for the latter,” Klein said.

 

With the sales-to-active-listings ratio at 10.2 per cent, the region remains in buyers’ market territory. Since June, this ratio has ranged between 8 and 11 per cent.

 

Sales of detached properties in January 2013 reached 542, a decrease of 17.8 per cent from the 659 detached sales recorded in January 2012, and a 31.7 per cent decrease from the 793 units sold in January 2011. The benchmark price for detached properties decreased 3.1 per cent from January 2012 to $901,000. Since reaching a peak in May 2012, the benchmark price of a detached property has declined 6.9 per cent.

 

Sales of apartment properties reached 576 in January 2013, a decline of 12.3 per cent compared to the 657 sales in January 2012, and a decrease of 19.2 per cent compared to the 713 sales in January 2011. The benchmark price of an apartment property decreased 2.9 per cent from January 2012 to $358,400. Since reaching a peak in May 2012, the benchmark price of an apartment property has declined 5.6 per cent.

 

Attached property sales in January 2013 totalled 233, a decline of 10.7 per cent compared to the 261 sales in January 2012, and a 25.6 per cent decrease from the 313 attached properties sold in January 2011. The benchmark price of an attached unit decreased 1.7 per cent between January 2012 and 2013 to $449,900. Since reaching a peak in April 2012, the benchmark price of an attached property has declined 7.7 per cent.

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Are you looking to renovate your home? Need a hand? This sounds like a really neat opportunity from Property Brothers! I'd love for you to let me know if you are chosen to participate!!

 

Property Brothers is now CASTING

in the

Greater VANCOUVER area!

If you are actively house hunting or have recently found a fixer-upper and are now daunted by the prospect of renovating, then we can help. If you have a budget to renovate and are in need of expert design and construction help, then we may be the perfect fit!

 

We are looking for:

  • Outgoing, dynamic families, couples, singles willing to take on the challenge of renovating their new home.
  • Couples who have recently purchased their new home, or who have a quick closing date. 

 

What the show does for successful candidates:

  • We work with you to renovate areas of your home based on your budget and Network requirements.
  • We contribute a minimum of $10,000worth of design services and products
  • We work on tight timelines fast tracking your renovation

Renovating can be a very stressful time. If you are looking for an adventure and a way to ease the pain of construction, then Property Brothers may be the show for you. With the help from our expert team of designers and contractors, your dream home is only one renovation away.  If you or someone you know are interested in this unique opportunity please contact our casting department:

 

Phone:   416.531.2500 ext.118

 

We look forward to hearing from you and helping you to renovate your new home!

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REBGV is reporting sales below the 10 year December sales average, with a decrease in housing prices in the latter part of 2012. 

 

If you have any questions or would like more information about market activity in Maple Ridge/Pitt Meadows (or elsewhere), please be in touch with me anytime!

~ Helen

 

Prices hold firm as home buyers and sellers conclude 2012 from the sidelines

The Greater Vancouver housing market experienced below average home sale totals, typical home listing activity and modest declines in home prices in 2012.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2012 reached 25,032, a 22.7 per cent decline from the 32,387 sales recorded in 2011, and an 18.2 per cent decrease from the 30,595 residential sales in 2010. Last year’s home sale total was 25.7 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

 

The number of residential properties listed for sale on the MLS® in Greater Vancouver declined 2 per cent in 2012 to 58,379 compared to the 59,539 properties listed in 2011. Looking back further, last year’s total represents a 0.6 per cent increase compared to the 58,009 residential properties listed in 2010. Last year’s listing total was 6.1 per cent above the ten-year average for annual MLS® property listings in the region.

 

"For much of 2012 we saw a collective hesitation on the part of buyers and sellers in the Greater Vancouver housing market. This behavior was reflected in lower than average home sale activity and modest fluctuations in home prices,” Eugen Klein, REBGV president said.

 

Residential property sales in Greater Vancouver totalled 1,142 in December 2012, a decrease of 31.1 per cent from the 1,658 sales recorded in December 2011 and a 32.3 per cent decline compared to November 2012 when 1,686 home sales occurred.

 

December sales were 38.4 per cent below the 10-year December sales average of 1,855.

 

Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 5.8 per cent to $590,800. This represents a 2.3 per cent decline when compared to this time last year.

 

“We saw home prices come down a bit during the latter half of the year. During the same period, we saw fewer home sales and listings,” Klein said.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,380 in December 2012. This represents a 15.3 per cent decline compared to the 1,629 units listed in December 2011 and a 50 per cent decline compared to November 2012 when 2,758 properties were listed.

 

Sales of detached properties in December 2012 reached 425, a decrease of 32.5 per cent from the 630 detached sales recorded in December 2011, and a 44.7 per cent decrease from the 769 units sold in December 2010. The benchmark price for detached properties decreased 2.7 per cent from December 2011 to $904,200. Since reaching a peak in May, the benchmark price of a detached property has declined 6.5%.

 

Sales of apartment properties reached 504 in December 2012, a decline of 34.9 per cent compared to the 774 sales in December 2011, and a decrease of 37.9 per cent compared to the 811 sales in December 2010.The benchmark price of an apartment property decreased 1.9 per cent from December 2011 to $361,200. Since reaching a peak in May, the benchmark price of an apartment property has declined 12.8%.

 

Attached property sales in December 2012 totalled 213, a decline of 16.1 per cent compared to the 254 sales in December 2011, and a 33.2 per cent decrease from the 319 attached properties sold in December 2010.

 

The benchmark price of an attached unit decreased 2.6 per cent between December 2011 and 2012 to $450,900. Since reaching a peak in April, the benchmark price of an attached property has declined 4.4%.

 

“Activity continues to vary depending on area so it’s important to work with your REALTOR® and other professionals to understand the trends in your area of interest,” Klein said.   

 

To view the complete statistics package, please click here. 

 
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Since 1995 Greater Vancouver Realtors have been collecting warm blankets and coats for the homeless in communities across the region. It is now one of the largest organized collections in the whole of the Lower Mainland and has helped at least 185,000 people keep warm.

 

This year's REALTORS Care® Blanket Drive takes place November 26 - December 3, 2012. 

 

Items needed are:

 

New or gently used

  • blankets, sleeping bags
  • warm clothing - coats, jeans, pants, sweaters
  • scarves, gloves, mitts, hats
New
(women, children, men)
  • socks
  • underwear

 

To find a drop off location near you, please click here.

 

Connect with the blanket drive on Facebook, too. 

 

Thank you for your generousity this year!

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REBGV is reporting a slight increase in the number of homes sold last month, as well as a reduction in the number of listings and a slight decrease in home prices as compared to the summer. 

 

If you have any questions or would like more information about market activity in Maple Ridge/Pitt Meadows (or elsewhere), please be in touch with me anytime!

~ Helen

 

 

Housing market sees slight changes in October

 

Vancouver, BC  – The Greater Vancouver housing market saw a slight increase in the number of home sales, a slight reduction in the number of listings, and a slight decrease in home prices in October compared to the summer months. With those changes, the sales-to-active-listings ratio increased to 11 per cent in October from 8 per cent in September.

The Real Estate Board of Greater Vancouver (REBGV) reported 1,931 residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) in October, a 16.7 per cent decline compared to the 2,317 sales in October 2011 and a 27.4 per cent increase compared to the 1,516 home sales in September 2012.

 

October sales were 28.5 per cent below the 10-year October sales average of 2,700.

 

“Buyer demand increased slightly in October compared to the previous few months,” Sandra Wyant, REBGV president-elect said. “Overall conditions in today’s market remain in favour of buyers, with low interest rates, more choice, and less time pressure in terms of decision-making. This translates into a calmer atmosphere for those looking to buy a home and it places more onus on sellers to ensure their homes are priced to compete in today’s marketplace.”

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,323 in October. This represents a 1.2 per cent decline compared to October 2011 when 4,374 properties were listed for sale on the MLS® and an 18.8 per cent decline compared to the 5,321 new listings in September 2012.

 

At 17,370, the total number of residential property listings on the MLS® increased 12 per cent from this time last year and declined 5.3 per cent compared to September 2012.

 

Since reaching a peak of $625,100 in May, the MLS Home Price Index® (MLS HPI®) composite benchmark price for all residential properties in Greater Vancouver declined 3.4 per cent to $603,800 in October. This represents a 0.8 per cent decline compared to last year.

 

“There’ve been modest price changes since they peaked in the spring. The largest reductions have occurred in the areas and property types that experienced the biggest price increases over the last few years,” Wyant said.

Since hitting a record high in April, the benchmark price of a detached home on the Westside of Vancouver has declined 8.6 per cent while detached homes in Richmond and West Vancouver have seen declines of 6 per cent over the same time period.

 

Sales of detached properties in Greater Vancouver reached 790 in October, a decrease of 18.9 per cent from the 974 detached sales recorded in October 2011, and a 19.1 per cent decrease from the 976 units sold in October 2010. Since reaching a peak in May, the benchmark price for a detached property in Greater Vancouver has declined 4.1 per cent to $927,500.

 

Sales of apartment properties reached 803 in October 2012, a 16.2 per cent decrease compared to the 958 sales in October 2011, and a decrease of 18.4 per cent compared to the 984 sales in October 2010. Since reaching a peak in May, the benchmark price for an apartment property in Greater Vancouver has declined 2.9 per cent to $368,800.

Attached property sales in October 2012 totalled 338, an 11.5 per cent decrease compared to the 382 sales in October 2011, and a 10.3 per cent decrease from the 377 attached properties sold in October 2010. Since reaching a peak in April, the benchmark price for an attached property in Greater Vancouver has declined 2.9 per cent to $457,700.  

 

To view the full stats package from October 2012, please click here. 


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Here are some great tips for October: Easy Ways to "Go Green" and How To Budget For Closing Costs. Enjoy!

 

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Conditions continue to favour buyers in the Greater Vancouver housing market

The summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 sales in September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012.

 

September sales were 41.6 per cent below the 10-year September sales average of 2,597.

 

“There’s been a clear reduction in buyer demand in the three months since the federal government eliminated the availability of a 30-year amortization on government-insured mortgages,” Eugen Klein, REBGV president said. “This makes homes less affordable for the people of the region.”

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,321 in September. This represents a 6.3 per cent decline compared to September 2011 when 5,680 properties were listed for sale on the MLS® and a 31.6 per cent increase compared to the 4,044 new listings in August 2012.

 

At 18,350, the total number of residential property listings on the MLS® increased 14.1 per cent from this time last year and increased 4.5 per cent compared to August 2012.

 

“Today, our sales-to-active-listings ratio sits at 8 per cent, which puts us in a buyer’s market. This ratio has been declining in our market since March when it was 19 per cent,” Klein said.

 

The MLS HPI® composite benchmark price for all residential properties in Greater Vancouver is $606,100. This represents a decline of 0.8 per cent compared to this time last year and a decline of 2.3 per cent over last three months.

 

“Prices in the region remain relatively stable overall, although we do see some reductions in the areas that have had some of the largest price increases over the last year or two,” Klein said.

 

Sales of detached properties on the MLS® in September 2012 reached 594, a decrease of 37.9 per cent from the 957 detached sales recorded in September 2011, and a 31.4 per cent decrease from the 866 units sold in September 2010. The benchmark price for detached properties decreased 0.5 per cent from September 2011 to $935,600.

Sales of apartment properties reached 676 in September 2012, a 26.7 per cent decrease compared to the 922 sales in September 2011, and a decrease of 30.4 per cent compared to the 971 sales in September 2010. The benchmark price of an apartment property decreased 0.7 per cent from September 2011 to $368,600.

 

Attached property sales in September 2012 totalled 246, a 33 per cent decrease compared to the 367 sales in September 2011, and a 35.8 per cent decrease from the 383 attached properties sold in September 2010. The benchmark price of an attached unit decreased 2.7 per cent between September 2011 and 2012 to $458,600.

 

Source: Real Estate Board of Greater Vancouver (REBGV)


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REBGV is reporting a slower summer market than usual. Please see their release below for details. 

 

If you have any questions or would like more information about market activity in Maple Ridge/Pitt Meadows (or elsewhere), please be in touch with me anytime!

~ Helen



Home sellers continue to outnumber buyers in Greater Vancouver’s summer housing market


VANCOUVER, B.C. – September 5, 2012 – Home sale activity remained below long-term averages in the Greater Vancouver housing market in August.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,649 in August, a 30.7 per cent decline compared to the 2,378 sales in August 2011 and a 21.4 per cent decline compared to the 2,098 sales in July 2012.


August sales were the second lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711.


“Home sales this summer have been lower than we’ve seen for most of the past ten years, yet we continue to see relative stability when it comes to prices,” Eugen Klein, REBGV president said.


New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,044 in August. This represents a 13.7 per cent decline compared to August 2011 when 4,685 properties were listed for sale on the MLS® and a 15.8 per cent decline compared to the 4,802 new listings in July 2012.


“For sellers it’s critical to work with your REALTOR® to understand today’s market and to develop the best strategy for selling your home,” Klein said. “On average it’s taking about two months for a home to sell on the MLS® in Greater Vancouver today.”


At 17,567, the total number of residential property listings on the MLS® increased 13.8 per cent from this time last year and declined 2.8 per cent compared to July 2012.


“Today, our sales-to-active-listings ratio sits at 9 per cent, which puts us in a buyer’s market. This ratio has been declining in our market since March when it was 19 per cent,” Klein said.


The MLSLink® Housing Price Index (HPI) composite benchmark price for all residential properties in Greater Vancouver is $609,500. This represents a decline of 0.5% compared to this time last year and a decline of 1.1% compared to last month.


Sales of detached properties on the MLS® in August 2012 reached 624, a decrease of 38.8 per cent from the 1,020 detached sales recorded in August 2011, and a 30.1 per cent decrease from the 893 units sold in August 2010. The benchmark price for detached properties increased 0.2 per cent from August 2011 to $942,100.


Sales of apartment properties reached 725 in August 2012, a 24.1 per cent decrease compared to the 955 sales in August 2011, and a decrease of 22.5 per cent compared to the 935 sales in August 2010. The benchmark price of an apartment property decreased 0.9 per cent from August 2011 to $370,100.


Attached property sales in August 2012 totalled 300, a 25.6 per cent decrease compared to the 403 sales in August 2011, and a 19.8 per cent decrease from the 374 attached properties sold in August 2010. The benchmark price of an attached unit decreased 1.9 per cent between August 2011 and 2012 to $462,300. 

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This month, REBGV reports a lull in summer sales. Please see below for details.

 

If you have any questions or would like more information about market activity in Maple Ridge/Pitt Meadows (or elsewhere), please be in touch with me anytime!

~ Helen

 

VANCOUVER, B.C. – August 2, 2012 – Residential property sales in Greater Vancouver remained at a 10-year low in

July, while the number of properties being listed for sale continued to edge down and prices remained relatively stable.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that there were 2,098 residential property sales of

detached, attached and apartment properties in July. That’s an 18.4 per cent decline compared to the 2,571 sales in

July 2011 and an 11.2 per cent decline compared to the previous month’s 2,362 sales.

 

July sales were the lowest total for that month in the region since 2000. They were 31.2 per cent below the 10-year

July sales average of 3,051.

 

“People appear to be cautious about making significant financial decisions right now. While our local economy appears to be quite robust, there may be some concern about the impact of international markets and the federal government’s tightening of mortgage regulations,” says Eugen Klein, REBGV president.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,802 in July, the lowest

number of new listings for any month this year. This represents a 5.8 per cent decline compared to July 2011 when

5,097 properties were newly listed for sale on the Multiple Listing Service® (MLS®) and a 14.5 per cent decline

compared to the 5,617 new listings reported in June 2012.

 

At 18,081, the total number of active residential property listings on the MLS® increased 18.8 per cent from this

time last year and decreased 2.2 per cent compared to the previous month.

 

“With a sales-to-actives-listing ratio of 11.6 per cent, conditions have favoured buyers in our marketplace in recent

months,” Klein said. “That means buyers have more selection to choose from and more time to make a decision. For sellers, it’s important to price properties competitively. For information on local market prices, contact your REALTOR®.”

 

The MLS® Home Price Index (MLS® HPI) composite benchmark price for all residential properties in Greater

Vancouver over the last 12 months has increased 0.6% to $616,000 and declined 0.7% compared to last month.

Sales of detached properties on the MLS® in July 2012 reached 787, a decrease of 28.4 per cent from the 1,099 detached sales recorded in July 2011, and a 13.3 per cent decrease from the 908 units sold in July 2010. The benchmark price for detached properties increased 1.4 per cent from July 2011 to $950,200 and declined 1.2 per cent compared to last month.

 

Sales of apartment properties reached 927 in July 2012, a 10.9 per cent decrease compared to the 1,040 sales in July

2011, and a decrease of 5.3 per cent compared to the 979 sales in July 2010. The benchmark price of an apartment

property remains unchanged compared to July 2011 at $374,300 and declined 0.5 per cent compared to last month.

 

Attached property sales in July 2012 totalled 384, an 11.1 per cent decrease compared to the 432 sales in July 2011,

and a 4.3 per cent increase from the 368 attached properties sold in July 2010. The benchmark price of an attached

unit decreased 0.5 per cent between July 2011 and 2012 to $468,700 and is relatively unchanged compared to last

month.

 

Source: REBGV ( Real Estate Board of Greater Vancouver)

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Helen Gambling
Cell: (604) 230-7311
Office: (604) 466-2838

Contact

Cell (604) 230-7311

asurebetinrealestate@gmail.com

 

RE/MAX LifeStyles Realty
22308 Dewdney Trunk Rd

Maple Ridge, BC

V2X 3J2

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