North Vancouver Condo Update

February 19, 2012

There are currently 377 condominium apartment homes for sale in North Vancouver ranging in price from $217,500 for a 855 square foot 2-bedroom home in a Central Lonsdale age-restricted building, to $2,600,000 for a 3 bedroom, 1,700 square foot view home in Lower Lonsdale.

There have been 148 sales in the last 90 days, with the average sale price for a 1-bedroom during that time coming in at $308,588 and the median sale price coming in at $297,750. For 2-bedroom homes, the average sale price was $451,111 and the median sale price was $425,900. The least expensive sale price so far this year for a 1-bedroom was for a 727 square foot home in Lynnmour for $151,000 in January and the most expensive so far this year was for a 781 square foot home (still under construction) in the Hamilton area for $469,000 in January. The least expensive sale price so far this year for a 2-bedroom was for a 871 square foot home in Central Lonsdale for $275,000 in February and the most expensive so far this year was for a 1,851 square foot home in the Capilano area, also in February, for $937,000.

With 151 North Vancouver 1-bedroom condos currently for sale and taking into account 22 sales last month, there is currently a 7 month supply of homes, meaning the Absorption Rate is 5. With 215 North Vancouver 2-bedroom condos for sale and taking into account 48 sales last month, there is currently a 4 & ½ month supply of those homes as well, an Absorption Rate of 4.5. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an Absorption Rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of condos in North Vancouver overall and one would want to drill down deeper in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current North Vancouver Condominium Homes For Sale:
There are 15 studio homes
There are 187 one (1) bedroom homes
There are 215 two (2) bedroom homes
There are 16 three (3) bedroom homes
There are 0 four (4) bedroom homes

There are currently 76 two-bedroom homes priced under $400,000 in North Vancouver and 85 one-bedroom homes priced under $300,000.

North Vancouver Condominium Homes For Sale By Community:
Blueridge – 3 homes for sale
Boulevard – 0
Braemar – 0
Calverhall – 0
Canyon Heights – 0
Capilano Highlands – 3
Capilano – 1
Central Lonsdale – 92
Deep Cove – 3
Delbrook – 1
Dollarton – 0
Forest Hills – 0
Grouse Woods – 0
Hamilton – 17
Hamilton Heights – 0
Indian Arm – 0
Indian River – 2
Lower Lonsdale – 167
Lynn Valley – 14
Lynnmour – 11
Norgate – 21
Northlands – 2
Pemberton Heights – 11
Pemberton – 31
Princess Park – 0
Queensbury – 0
Roche Point – 40
Seymour – 0
Tempe – 0
Upper Delbrook – 0
Upper Lonsdale – 10
Westlynn – 2
Westlynn Terrace – 0
Windsor Park – 2
Woodlands – Sunshine – Cascade – 0

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West Vancouver Single Family Home Update

September 26, 2011

There are currently 478 single family homes for sale in West Vancouver ranging in price from $729,000 for a 3 bedroom home on Passage Island to $39,000,000 for an 11 bedroom, 29,770 square foot mansion on a 5.44 acre lot at 2190 Camelot Road.

There have been 325 sales since June 1st, with the average sale price during that time coming in at $2,344,259 and the median sale price being $1,930,000. The least expensive sale price so far this year was for a 3-bedroom west coast contemporary in Lions Bay for a little under $630,000 and the most expensive so far this year was for a 6-bedroom, 10,000 square foot beauty in Caulfeild with stunning views, for a little under $11,000,000.

With 478 West Vancouver homes currently for sale and taking into account 69 sales last month, there is currently a 7 month supply of homes, meaning the Absorption Rate is 7.0. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an absorption rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of West Vancouver overall and one would want to drill down a little deeper in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current West Vancouver Homes For Sale:
There are 0 one (1) bedroom homes
There are 17 two (2) bedroom homes
There are 107 three (3) bedroom homes
There are 172 four (4) bedroom homes
There are 108 five (5) bedroom homes
There are 56 six (6) bedroom homes
There are 10 seven (7) bedroom homes
There are 2 eight (8) bedroom homes
There are 1 nine (9) bedroom homes
There are 0 ten (10) bedroom homes
There are 0 eleven (11) bedroom homes

There are currently 33 homes priced under $1 million in West Vancouver.

West Vancouver Homes For Sale By Community:
Altamont – 17 homes for sale
Ambleside – 49
Bayridge – 19
British Properties – 61
Canterbury – 9
Caulfeild – 34
Cedardale – 6
Chartwell – 14
Chelsea Park – 4
Cypress – 10
Cypress Park Estates – 14
Deer Ridge – 1
Dundarave – 27
Eagle Harbour – 27
Eagleridge – 6
Furry Creek – 16
Gleneagles – 11
Glenmore – 16
Horseshoe Bay – 7
Howe Sound – 12
Lions Bay – 33
Olde Caulfeild – 3
Panorama Village – 1
Park Royal – 4
Queens – 14
Rockridge – 4
Sandy Cove – 3
Sentinel Hill – 12
Upper Caulfeild – 2
West Bay – 11
Westhill – 6
Westmount – 16
Whitby Estates – 5
Whytecliff – 6
.


West Vancouver Condo Update

August 20, 2011

There are currently 127 condominium apartment homes for sale in West Vancouver ranging in price from $235,000 for a 459 square foot studio in Ambleside to $7,800,000 for a 4 bedroom, 4,811 square foot penthouse in Dundarave.

There have been 88 sales since May 1st, with the average sale price for a 1-bedroom during that time coming in at $536,659 and the median sale price at $575,000. For 2-bedrooms, the average sale price was $1,402,327 and the median sale price was $1,065,000. The least expensive sale price so far this year for a 1-bedroom was for a 431 square foot renovated suite with mountain views for under $235,000 and the most expensive so far this year was for an 1,100 square foot home with ocean views in a newer building in Dundarave for the mid 800’s. The least expensive sale price so far this year for a 2-bedroom was for a 728 square foot home in an older building in Ambleside for $360,000 and the most expensive so far this year was for a 2,400 square foot Dundarave home with sweeping ocean views and exquisite finishings for $5,000,000.

With 23 West Vancouver 1-bedroom condos currently for sale and taking into account 6 sales last month, there is currently a 4 month supply of homes, meaning the absorption rate is 4.0. With 73 West Vancouver 2-bedroom homes for sale and taking into account 15 sales last month, there is currently a 5 month supply of those homes, with an Absorption Rate of 5.0. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an Absorption Rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of condos in West Vancouver overall and one would want to drill down deeper in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current West Vancouver Condominium Homes For Sale:
There are 4 studio homes
There are 23 one (1) bedroom homes
There are 73 two (2) bedroom homes
There are 21 three (3) bedroom homes
There is 6 four (4) bedroom homes

There are currently 24 two-bedroom homes priced under $750,000 in West Vancouver and 13 one-bedroom homes priced under $400,000.

West Vancouver Condominium Homes For Sale By Community:
Altamont – 1 home for sale
Ambleside – 40
Bayridge – 0
British Properties – 0
Canterbury – 0
Caulfeild – 0
Cedardale – 2
Chartwell – 0
Chelsea Park – 1
Cypress – 0
Cypress Park Estates – 9
Deer Ridge – 2
Dundarave – 21
Eagle Harbour –0
Eagleridge – 0
Furry Creek – 5
Gleneagles – 0
Glenmore – 0
Horseshoe Bay – 3
Howe Sound – 0
Lions Bay – 1
Olde Caulfeild – 0
Panorama Village – 8
Park Royal – 13
Queens – 0
Rockridge – 0
Sandy Cove – 0
Sentinel Hill – 0
Upper Caulfeild – 0
West Bay – 0
Westhill – 0
Westmount – 0
Whitby Estates – 5
Whytecliff – 0


West Vancouver Single Family Home Update

August 9, 2011

There are currently 450 single family homes for sale in West Vancouver ranging in price from $729,000 for a 3 bedroom home on Passage Island to $39,000,000 for an 11 bedroom, 29,770 square foot mansion on a 5.44 acre lot at 2190 Camelot Road.

There have been 372 sales since May 1st, with the average sale price during that time coming in at $2,259,819 and the median sale price being $1,865,000. The least expensive sale price so far this year was for a 3-bedroom west coast contemporary in Lions Bay for a little under $630,000 and the most expensive so far this year was for a 6-bedroom, 10,000 square foot beauty in Caulfeild with stunning views, for a little under $11,000,000.

With 450 West Vancouver homes currently for sale and taking into account 92 sales last month, there is currently a 5 month supply of homes, meaning the Absorption Rate is 5.0. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an absorption rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of West Vancouver overall and one would want to drill down a little deeper in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current West Vancouver Homes For Sale:
There are 0 one (1) bedroom homes
There are 15 two (2) bedroom homes
There are 106 three (3) bedroom homes
There are 147 four (4) bedroom homes
There are 99 five (5) bedroom homes
There are 60 six (6) bedroom homes
There are 14 seven (7) bedroom homes
There are 3 eight (8) bedroom homes
There are 2 nine (9) bedroom homes
There are 0 ten (10) bedroom homes
There are 0 eleven (11) bedroom homes

There are currently 29 homes priced under $1 million in West Vancouver.

West Vancouver Homes For Sale By Community:
Altamont – 15 homes for sale
Ambleside – 39
Bayridge – 14
British Properties – 52
Canterbury – 5
Caulfeild – 24
Cedardale – 7
Chartwell – 18
Chelsea Park – 5
Cypress – 9
Cypress Park Estates – 13
Deer Ridge – 1
Dundarave – 21
Eagle Harbour – 27
Eagleridge – 11
Furry Creek – 18
Gleneagles – 15
Glenmore – 18
Horseshoe Bay – 8
Howe Sound – 12
Lions Bay – 34
Olde Caulfeild – 3
Panorama Village – 1
Park Royal – 4
Queens – 9
Rockridge – 7
Sandy Cove – 6
Sentinel Hill – 10
Upper Caulfeild – 1
West Bay – 12
Westhill – 9
Westmount – 14
Whitby Estates – 5
Whytecliff – 6


Changes To Canadian Immigration Rules

July 28, 2011

On June 24, the federal government instituted rule changes related to new applications under the Federal Immigrant Investor Program (IIP), the Federal Skilled Worker Program (FSW) and the Federal Entrepreneur Program. The changes are as follows:

•Federal Entrepreneur Program: A temporary moratorium on new applications.

•Federal Immigrant Investor Program (IIP): A cap of 700 new IIP applications will be considered for processing each year.

•Federal Skilled Worker Program (FSW): A cap of 10,000 new FSW applications, without an offer of arranged employment, will be considered for processing each year. Within the 10,000 cap, a maximum of 500 new applications per occupation will be considered each year.

BC, and Vancouver in particular, has been one of the primary recipients of immigrants under the IIP, accounting for half of total Canadian investor class immigration. From 2005 to 2010, over 30,000 investor class immigrants have located in BC, an average of about 5,000 per year. This number relates to roughly 2,000 households per year.

Implications:

The Government’s stated reason for instituting the application cap is to reduce a backlog in applications and to shorten wait times. In 2010 there were 3,223 applications approved under the IIP and the government has indicated that it has received applications well in excess of that number in recent years, creating a large backlog of applications. It has not indicated that it wishes to lower the number of immigrants processed under the IIP, but simply to reduce the current backlog.

Therefore, as old applications are still being processed, the implementation of the new rules may not have an impact on the number of immigrants entering under the IIP and therefore may not have a material impact on BC housing markets.

To view Citizenship and Immigration Canada’s (CIC) press release, visit:
www.cic.gc.ca/english/department/media/releases/2011/2011-06-24a.asp.

For more information about the Federal Immigrant Investor Program, visit:
www.cic.gc.ca/english/immigrate/business/investors/index.asp.

For more information about the Federal Entrepreneur Program, visit:
www.cic.gc.ca/english/immigrate/business/entrepreneurs/index.asp.

For more information about the Skilled Worker Program, visit:
www.cic.gc.ca/english/immigrate/skilled/index.asp.

To view CIC’s Frequently Asked Questions, visit:
www.cic.gc.ca/english/information/faq/immigrate/business/index.asp.

This article was provided by the BC Real Estate Association.


West Vancouver’s Sentinel Hill Single Family Home Update

July 20, 2011

There are currently 13 single family homes for sale in Sentinel Hill, ranging in price from $1,348,000 for a 3-bedroom home at 1004 Jefferson to $5,525,000. for a 5-bedroom, 7,500 square foot mansion at 888 Sentinel Hill.

There have been 13 sales since April 1st, with the average sale price during that time coming in at $1,208,153 and the median sale price being $1,170,000. The least expensive sale price so far this year was for a 3-bedroom rancher on Taylor Way for a little under $850,000 and the most expensive so far this year was for a 4-bedroom, 6,000 square foot beauty on Anderson with nice ocean views, for a little under $3.9 million.

With 13 Sentinel Hill homes currently for sale and taking into account an average of 4 sales per month over the last 3 months, there is currently a 3 month supply of homes, meaning the Absorption Rate is 3. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an absorption rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers.

Price Range of Current Sentinel Hill Homes For Sale:
There are currently 4 homes priced under $1.5 million in Sentinel Hill.
$ 1 – 1.1 million – 0
$ 1.1 – 1.2 million – 0
$ 1.2 – 1.3 million – 0
$ 1.3 – 1.4 million – 2
$ 1.4 – 1.5 million – 2
$ 1.5 – 1.75 million – 4
$ 1.75 – 2.0 million – 1
$ 2.0 – 2.5 million – 2
$ 2.5 – 3.0 million – 1
$ 3.0 – 4.0 million – 0
$ 4.0 – 5.0 million – 0
$ 5.0 – 6.0 million – 1
$ 6.0 – 7.0 million – 0
$ 7.0 – 10.0 million – 0
> $10 million – 0

Sentinel Homes For Sale By Street:
Braeside St – 1 home for sale
Eden Pl – 1
Inglewood Ave – 2
Jefferson Ave – 4
Keith Rd – 1
Kings Ave – 1
Mathers Ave – 1
Sentinel Dr – 1


Greenest House On Earth?

July 17, 2011

Read the article from the Vancouver Sun here.


Mistakes To Avoid When Selling Your Home

July 16, 2011

Part 1 in a series of 7:

Selling your home is a complicated process. It is natural to feel overwhelmed by the magnitude of details involved, but the experience can be very manageable, and educational, when broken down into its component parts and plotted out into steps. Over the course of the next 7 weeks, I will be touching on 7 common pitfalls encountered during the home-selling process. Here is the 1st:

Faulty Pricing

It is essential you determine the asking price of your home based on its market value. Too many times home-sellers let emotions or needs influence their asking price, drawing from numbers based on the price paid for the house originally, or the amount of money they’ve invested in the home. This mistake may prove to be a costly one. If your home is priced significantly higher than what the market is bearing at the time, prospective buyers interested in your style of home will reject it for larger homes listed at the same price. And, those buyers who do see your house may have significantly higher expectations than what you have to offer. Ironically, over-pricing your home actually increases the chances that your home will sell for less than it is worth. Driving prospective buyers away will increase the amount of time your home stays on the market, which raises an additional red flag for buyers. They become wary of the reasons your home has not sold, thinking, “If no one else has bought it, there must be something wrong with it.” The bottom line: price it correctly, and they will come.

Be vigilant, too, of pricing your home too low: a lack of market value awareness could result in selling your home for much less than it’s worth.


Vancouver West Side Condo Update (2-Br)

July 14, 2011

WEST SIDE
On the West Side of Vancouver there are currently 1010 active two-bedroom properties for sale, ranging in price from $235,000. to $8,350,000., with the average asking price being $1,022,454. There have been 549 sales since April, with the average selling price being $764,507 and the average cost per square foot being $691. The median sale price during this period is $620,000. The least expensive sale price so far this year was for $287,500. in June and the most expensive was for $5,600,000. in April. With 1010 properties currently for sale and with 148 sales last month, there is currently a 7 months supply of homes, an absorption rate of 7. The absorption rate is the ability of the real estate market to absorb or sell all of the homes for sale in a given amount of time. A supply of 3 months or less (a.k.a. an absorption rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers.

KITSILANO
In Kitsilano there are currently 58 active two-bedroom properties for sale, ranging in price from $382,000. to $939,900., with the average asking price being $613,310. There have been 48 sales since April, with the average selling price being $567,651. and the average cost per square foot being $609. The median sale price during this period is $544,000. The least expensive sale price so far this year was for $355,000. in March and the most expensive was for $1,188,000. in April. With 58 properties currently for sale and with 17 sales last month, there is currently a 3 & 1/2 months supply of homes, an absorption rate of 3.5.

FAIRVIEW
In Fairview there are currently 72 active two-bedroom properties for sale, ranging in price from $330,000. to $1,499,000., with the average asking price being $703,611. There have been 62 sales since April, with the average selling price being $622,792. and the average cost per square foot being $603. The median sale price during this period is $599,500. The least expensive sale price so far this year was for $303,000. in February and the most expensive was for $2,725,000. in March. With 72 properties currently for sale and with 20 sales last month, there is currently a 3 & 1/2 months supply of homes, an absorption rate of 3.5.


Vancouver West Side Condo Update

July 14, 2011

WEST SIDE
On the West Side of Vancouver there are currently 704 active one-bedroom properties for sale, ranging in price from $169,000. to $1,298,000., with the average asking price being $435,143. There have been 537 sales since April, with the average selling price being $411,688 and the average cost per square foot being $624. The median sale price during this period is $401,750. The least expensive sale price so far this year was for $148,500. in June and the most expensive was for $1,500,000. in May. With 704 properties currently for sale and with 152 sales last month, there is currently a 4 & 1/2 month supply of homes, an absorption rate of 4.5. The absorption rate is the ability of the real estate market to absorb or sell all of the homes for sale in a given amount of time. A supply of 3 months or less (a.k.a. an absorption rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers.

KITSILANO
In Kitsilano there are currently 74 active one-bedroom properties for sale, ranging in price from $279,000. to $609,000., with the average asking price being $408,135. There have been 52 sales since April, with the average selling price being $402,770. and the average cost per square foot being $600. The median sale price during this period is $395,000. The least expensive sale price so far this year was for $275,000. in January and the most expensive was for $615,000. in February. With 74 properties currently for sale and with 18 sales last month, there is currently a 4 month supply of homes, an absorption rate of 4.

FAIRVIEW
In Fairview there are currently 56 active one-bedroom properties for sale, ranging in price from $225,000. to $688,000., with the average asking price being $387,021. There have been 65 sales since September, with the average selling price being $389,323. and the average cost per square foot being $569. The median sale price during this period is $385,500. The least expensive sale price so far this year was for $185,000. in January and the most expensive was for $539,000. in May. With 56 properties currently for sale and with 13 sales last month, there is currently a 4 month supply of homes, an absorption rate of 4.


North Vancouver Condo Update

July 12, 2011

There are currently 433 condominium apartment homes for sale in North Vancouver ranging in price from $156,500 for a 545 square foot studio in a Central Lonsdale co-op, to $2,498,000 for a 3 bedroom, 1,700 square foot view home in Lower Lonsdale.

There have been 241 sales since April 1st, with the average sale price for a 1-bedroom during that time coming in at $316,565 and the median sale price coming in at $313,5000. For 2-bedroom homes, the average sale price was $454,103 and the median sale price was $429,900. The least expensive sale price so far this year for a 1-bedroom was for a 700 square foot home in a Central Lonsdale co-op for $155,000 and the most expensive so far this year was for a 1,200 square foot home with nice views of Capilano River Canyon for $620,000. The least expensive sale price so far this year for a 2-bedroom was for a 1,000 square foot home in Lynnmour’s Edgewater Estates for $193,500 and the most expensive so far this year was for a 1,300 square foot penthouse home in Central Lonsdale, with beautiful ocean views and a hot tub on the deck, for $1,255,000.

With 187 North Vancouver 1-bedroom condos currently for sale and taking into account 38 sales last month, there is currently a 5 month supply of homes, meaning the Absorption Rate is 5. With 215 North Vancouver 2-bedroom condos for sale and taking into account 48 sales last month, there is currently a 4 & ½ month supply of those homes as well, an Absorption Rate of 4.5. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an Absorption Rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of condos in North Vancouver overall and one would want to drill down deeper in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current North Vancouver Condominium Homes For Sale:
There are 15 studio homes
There are 187 one (1) bedroom homes
There are 215 two (2) bedroom homes
There are 16 three (3) bedroom homes
There are 0 four (4) bedroom homes

There are currently 76 two-bedroom homes priced under $400,000 in North Vancouver and 85 one-bedroom homes priced under $300,000.

North Vancouver Condominium Homes For Sale By Community:
Blueridge – 3 homes for sale
Boulevard – 0
Braemar – 0
Calverhall – 0
Canyon Heights – 0
Capilano Highlands – 3
Capilano – 1
Central Lonsdale – 92
Deep Cove – 3
Delbrook – 1
Dollarton – 0
Forest Hills – 0
Grouse Woods – 0
Hamilton – 17
Hamilton Heights – 0
Indian Arm – 0
Indian River – 2
Lower Lonsdale – 167
Lynn Valley – 14
Lynnmour – 11
Norgate – 21
Northlands – 2
Pemberton Heights – 11
Pemberton – 31
Princess Park – 0
Queensbury – 0
Roche Point – 40
Seymour – 0
Tempe – 0
Upper Delbrook – 0
Upper Lonsdale – 10
Westlynn – 2
Westlynn Terrace – 0
Windsor Park – 2
Woodlands – Sunshine – Cascade – 0


West Vancouver Condo Update

July 11, 2011

There are currently 107 condominium apartment homes for sale in West Vancouver ranging in price from $269,000 for a 470 square foot studio in Ambleside to $7,800,000 for a 4 bedroom, 4,811 square foot penthouse in Dundarave.

There have been 69 sales since April 1st, with the average sale price for a 1-bedroom during that time coming in at $518,728 and the median sale price at $557,800. For 2-bedrooms, the average sale price was $1,376,351 and the median sale price was $1,097,000. The least expensive sale price so far this year for a 1-bedroom was for a 431 square foot renovated suite with mountain views for under $235,000 and the most expensive so far this year was for an 1,100 square foot home with ocean views in a newer building in Dundarave for the mid 800’s. The least expensive sale price so far this year for a 2-bedroom was for a 728 square foot home in an older building in Ambleside for $360,000 and the most expensive so far this year was for a 2,400 square foot Dundarave home with sweeping ocean views and exquisite finishings for $5,000,000.

With 28 West Vancouver 1-bedroom condos currently for sale and taking into account an average of 5 sales per month over the last 3 months, there is currently a 5 & ½ month supply of homes, meaning the absorption rate is 5.5. With 68 West Vancouver 2-bedroom homes for sale and taking into account an average of 17 sales per month over the last 3 months, there is currently a 4 month supply of those homes, with an Absorption Rate of 4. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an Absorption Rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of condos in West Vancouver overall and one would want to drill down deeper in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current West Vancouver Condominium Homes For Sale:
There are 3 studio homes
There are 28 one (1) bedroom homes
There are 68 two (2) bedroom homes
There are 7 three (3) bedroom homes
There is 1 four (4) bedroom home

There are currently 26 two-bedroom homes priced under $750,000 in West Vancouver and 15 one-bedroom homes priced under $400,000.

West Vancouver Condominium Homes For Sale By Community:
Altamont – 1 home for sale
Ambleside – 44
Bayridge – 0
British Properties – 0
Canterbury – 0
Caulfeild – 0
Cedardale – 3
Chartwell – 0
Chelsea Park – 0
Cypress – 0
Cypress Park Estates – 5
Deer Ridge – 1
Dundarave – 20
Eagle Harbour –0
Eagleridge – 0
Furry Creek – 0
Gleneagles – 0
Glenmore – 0
Horseshoe Bay – 5
Howe Sound – 0
Lions Bay – 1
Olde Caulfeild – 0
Panorama Village – 9
Park Royal – 13
Queens – 0
Rockridge – 0
Sandy Cove – 0
Sentinel Hill – 0
Upper Caulfeild – 0
West Bay – 0
Westhill – 0
Westmount – 0
Whitby Estates – 6
Whytecliff – 0


West Vancouver Single Family Home Update

July 5, 2011

There are currently 468 single family homes for sale in West Vancouver ranging in price from $675,000 for a 2 bedroom rancher in Lions Bay to $39,000,000 for an 11 bedroom, 29,770 square foot mansion on a 5.44 acre lot at 2190 Camelot Road.

There have been 413 sales since April 1st, with the average sale price during that time coming in at $2,2247,676. The least expensive sale price so far this year was for a 3-bedroom west coast contemporary in Lions Bay for a little under $630,000 and the most expensive so far this year was for a 6-bedroom, 10,000 square foot beauty in Caulfeild with stunning views, for a little under $11,000,000.

With 468 West Vancouver homes currently for sale and taking into account 100 sales last month, there is currently a 4 & 1/2 month supply of homes, meaning the Absorption Rate is 4.5. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an absorption rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of West Vancouver overall and one would want to drill down a little deeper in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current West Vancouver Homes For Sale:
There are 0 one (1) bedroom homes
There are 18 two (2) bedroom homes
There are 106 three (3) bedroom homes
There are 151 four (4) bedroom homes
There are 109 five (5) bedroom homes
There are 57 six (6) bedroom homes
There are 16 seven (7) bedroom homes
There are 4 eight (8) bedroom homes
There are 2 nine (9) bedroom homes
There are 0 ten (10) bedroom homes
There is 1 eleven (11) bedroom home

There are currently 34 homes priced under $1 million in West Vancouver.

West Vancouver Homes For Sale By Community:
Altamont – 15 homes for sale
Ambleside – 39
Bayridge – 15
British Properties – 51
Canterbury – 8
Caulfeild – 31
Cedardale – 8
Chartwell – 22
Chelsea Park – 6
Cypress – 11
Cypress Park Estates – 12
Dundarave – 26
Eagle Harbour – 29
Eagleridge – 10
Furry Creek – 17
Gleneagles – 9
Glenmore – 17
Horseshoe Bay – 12
Howe Sound – 10
Lions Bay – 32
Olde Caulfeild – 6
Panorama Village – 1
Park Royal – 6
Queens – 6
Rockridge – 8
Sandy Cove – 6
Sentinel Hill – 15
Upper Caulfeild – 0
West Bay – 10
Westhill – 3
Westmount – 14
Whitby Estates – 7
Whytecliff – 8


Happy Canada Day!

July 2, 2011

We’re so blessed to live here and for those of you who don’t, come and check it out sometime.

– note, although the above picture was taken by a Canadian, it’s actually located in France.


North Vancouver Single Family Home Update

June 28, 2011

There are currently 332 single family homes for sale in North Vancouver ranging in price from $549,900 for a 2 bedroom 1,500 square foot house in Westlynn to $15,000,000 for a 10 bedroom, 13,000 square foot waterfront home on Beachview.

There have been 505 sales since March 1st, with the average sale price during that time coming in at $1,056,118. The least expensive sale price so far this year was for a 5-bedroom, 2,500 square foot Vancouver Special in the Seymour area for $495,000 and the most expensive so far this year was for a 4-bedroom, 6,500 square foot waterfront home in Dollarton for $6,200,000.

With 332 North Vancouver homes currently for sale and taking into account 152 sales last month, there is currently a 2 month supply of homes, meaning the Absorption Rate is 2. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an Absorption Rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of North Vancouver overall and one would want to drill down in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current North Vancouver Homes For Sale:
There are 7 one (1) bedroom homes
There are 23 two (2) bedroom homes
There are 76 three (3) bedroom homes
There are 98 four (4) bedroom homes
There are 82 five (5) bedroom homes
There are 33 six (6) bedroom homes
There are 13 seven (7) bedroom homes
There are 4 eight (8) bedroom homes
There are 9 nine (9) bedroom homes
There are 1 ten (10) bedroom homes
There is 0 eleven (11) bedroom homes

There are currently 37 homes priced under $750,000 in North Vancouver

North Vancouver Homes For Sale By Community:
Blueridge – 9
Boulevard – 9
Braemar – 3
Calverhall – 9
Canyon Heights – 29
Capilano Highlands – 15
Capilano – 4
Central Lonsdale – 15
Deep Cove – 26
Delbrook – 3
Dollarton – 6
Forest Hills – 7
Grouse Woods – 7
Hamilton – 8
Hamilton Heights – 0
Indian Arm – 7
Indian River – 6
Lower Lonsdale – 7
Lynn Valley – 34
Lynnmour – 7
Norgate – 4
Northlands – 2
Pemberton Heights – 8
Pemberton – 8
Princess Park – 6
Queensbury – 6
Roche Point – 1
Seymour – 11
Tempe – 4
Upper Delbrook – 8
Upper Lonsdale – 33
Westlynn – 10
Westlynn Terrace – 1
Windsor Park – 9
Woodlands – Sunshine – Cascade – 10


West Vancouver Condo Update

June 26, 2011

There are currently 108 condominium apartment homes for sale in West Vancouver ranging in price from $235,000 for a 459 square foot studio in Ambleside to $7,800,000 for a 4 bedroom, 4,811 square foot penthouse in Dundarave.

There have been 80 sales since March 1st, with the average sale price for a 1-bedroom during that time coming in at $487,051 and for a 2-bedroom coming in at $1,318,298. The least expensive sale price so far this year for a 1-bedroom was for a 431 square foot renovated suite with mountain views for under $235,000 and the most expensive so far this year was for an 1,100 square foot home with ocean views in a newer building in Dundarave for the mid 800’s. The least expensive sale price so far this year for a 2-bedroom was for a 728 square foot home in an older building in Ambleside for $360,000 and the most expensive so far this year was for a 2,400 square foot Dundarave home with sweeping ocean views and exquisite finishings for $5,000,000.

With 27 West Vancouver 1-bedroom condos currently for sale and taking into account 8 sales last month, there is currently a 3 and 1/2 month supply of homes, meaning the Absorption Rate is 3.5. With 67 West Vancouver 2-bedrooms for sale and taking into account 20 sales last month, there is currently a 3 & ½ month supply of those homes as well, with the same absorption rate of 3.5. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an absorption rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of condos in West Vancouver overall and one would want to drill down in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current West Vancouver Condominium Homes For Sale:
There are 4 studio homes
There are 27 one (1) bedroom homes
There are 67 two (2) bedroom homes
There are 9 three (3) bedroom homes
There is 1 four (4) bedroom home

There are currently 24 two-bedroom homes priced under $750,000 in West Vancouver.

West Vancouver Condominium Homes For Sale By Community:
Altamont – 0 homes for sale
Ambleside – 45
Bayridge – 0
British Properties – 0
Canterbury – 0
Caulfeild – 0
Cedardale – 3
Chartwell – 0
Chelsea Park – 0
Cypress – 0
Cypress Park Estates – 6
Deer Ridge – 2
Dundarave – 20
Eagle Harbour –0
Eagleridge – 0
Furry Creek – 0
Gleneagles – 0
Glenmore – 0
Horseshoe Bay – 3
Howe Sound – 0
Lions Bay – 1
Olde Caulfeild – 0
Panorama Village – 11
Park Royal – 10
Queens – 0
Rockridge – 0
Sandy Cove – 0
Sentinel Hill – 0
Upper Caulfeild – 0
West Bay – 0
Westhill – 0
Westmount – 0
Whitby Estates – 7
Whytecliff – 0


West Vancouver Single Family Home Update

June 24, 2011

There are currently 482 single family homes for sale in West Vancouver ranging in price from $675,000 for a 2 bedroom rancher in Lions Bay to $39,000,000 for an 11 bedroom, 29,770 square foot mansion on a 5.44 acre lot at 2190 Camelot Road.

There have been 516 sales since March 1st, with the average sale price during that time coming in at $2,205,649. The least expensive sale price so far was for a 3-bedroom west coast contemporary in Lions Bay for a little under $630,000 and the most expensive so far was for a 6-bedroom, 10,000 square foot beauty in Caulfeild with stunning views, for a little under $11,000,000.

With 482 West Vancouver homes currently for sale and taking into account 161 sales last month, there is currently a 3 month supply of homes, meaning the Absorption Rate is 3. The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time. A supply of 3 months or less (a.k.a. an absorption rate of 3 or less) generally favours sellers and a supply of 6 months or more generally favours buyers. This is a snapshot of West Vancouver overall and one would want to drill down in individual neighbourhoods where one was interested in purchasing.

Number of Bedrooms in Current West Vancouver Homes For Sale:
There are 0 one (1) bedroom homes
There are 21 two (2) bedroom homes
There are 102 three (3) bedroom homes
There are 156 four (4) bedroom homes
There are 114 five (5) bedroom homes
There are 58 six (6) bedroom homes
There are 13 seven (7) bedroom homes
There are 4 eight (8) bedroom homes
There are 2 nine (9) bedroom homes
There are 0 ten (10) bedroom homes
There is 1 eleven (11) bedroom home

West Vancouver Homes For Sale By Community:
Altamont – 16 homes for sale
Ambleside – 36
Bayridge – 14
British Properties – 58
Canterbury – 10
Caulfeild – 34
Cedardale – 7
Chartwell – 21
Chelsea Park – 6
Cypress – 11
Cypress Park Estates – 12
Dundarave – 27
Eagle Harbour – 29
Eagleridge – 11
Furry Creek – 17
Gleneagles – 9
Glenmore – 15
Horseshoe Bay – 12
Howe Sound – 11
Lions Bay – 33
Olde Caulfeild – 6
Panorama Village – 1
Park Royal – 3
Queens – 8
Rockridge – 7
Sandy Cove – 5
Sentinel Hill – 16
Upper Caulfeild – 3
West Bay – 12
Westhill – 3
Westmount – 14
Whitby Estates – 7
Whytecliff – 8


North Vancouver 1-Bedroom Condo Apartment Property Statistics

June 23, 2011

North Vancouver
In North Vancouver there are currently 192 active one-bedroom properties for sale, ranging in price from $159,900. to $599,900., with the average asking price being $342,433. There have been 103 sales since March, with the average selling price being $311,058. and the average cost per square foot being $448. The least expensive sale price this year was for $155,000. in April and the most expensive was for $620,000. in June. With 192 properties currently for sale and 20 sales last month, there is currently a 9 & 1/2 month supply of homes.

Lower Lonsdale
In Lower Lonsdale there are currently 79 active one-bedroom properties for sale, ranging in price from $209,900. to $599,900., with the average asking price being $336,536. There have been 46 sales since March, with the average selling price being $308,973. and the average cost per square foot being $465. The least expensive sale price this year was for $195,000. in April and the most expensive so far this year was for $495,000. in March. With 79 properties currently for sale and 13 sales last month, there is currently a 6 month supply of homes.

The Pier
In The Pier there are currently 10 active one-bedroom properties for sale, ranging in price from $349,000. to $599,900., with the average asking price being $461,940. There have been 3 sales since March, with the average selling price being $406,666. and the average cost per square foot being $589. The least expensive sale price this year was for $390,000. in April and the most expensive so far this year was for $440,000. in April. With 10 properties currently for sale and taking into acccount the average number of sales per month up to this point, there is currently a 6 month supply of homes.


West Vancouver House Sales Statistics

May 24, 2011

There are currently 429 houses for sale in West Vancouver, ranging in price from $629,900. to $39,900,000., with the average asking price coming in at $2,943,937. There have been 544 sales this year, with the average selling price being $2,049,615. The lowest sale price achieved so far this year was for $628,500. in February. The highest sale price achieved so far this year was for $10,800,000. in April. With 429 homes currently for sale and 150 sales last month, there is about a 3 month supply of homes.

There are currently 36 detached properties for sale in Ambleside, ranging in price from $1,238,000. to $5,195,000., with the average asking price coming in at $2,017,314. There have been 81 sales this year, with the average selling price being $1,649,249. The lowest sale price achieved so far this year was for $885,000. in January. The highest sale price achieved so far this year was for $3,390,000. in May. With 36 homes currently for sale and 19 sales last month, there is about a 2 month supply of homes.

There are currently 23 detached properties for sale in Dundarave, ranging in price from $1,588,000. to $14,800,000., with the average asking price coming in at $2,481,842. There have been 49 sales this year, with the average selling price being $2,165,540. The lowest sale price achieved so far this year was for $1,072,500. in March. The highest sale price achieved so far this year was for $3,995,000. in April. With 23 homes currently for sale and 14 sales last month, there is about a 2 month supply of homes.

You don’t have to take a plane from downtown Vancouver to West Vancouver, but it would be fun :^)


Floor The Competition

May 2, 2011

When people enter your home they usually look down before up, so that first step is vital for attracting a homebuyer and making a great first impression. This is one reason why more people are installing hardwood floors in their homes.

Hardwood flooring enhances the look of any room and can create a classic ambiance that will beautify the interior design of your home. Residential real estate agents agree that homes with wood floors hold their value better, sell faster and fetch higher prices.

Last year, 99 percent of real estate agents responding to a national survey conducted by the National Wood Flooring Association agreed that homes with hardwood floors are easier to sell. The survey also found that 82 percent believe that homes with hardwood floors sell faster and 90 percent said they would sell for more money. Restoring hardwood flooring in the home is one of the best long-term investments to be made.

“Hardwood floors are environmentally friendly, forever fashionable, and will last for generations,” said Pembroke Jacobs, president of the Hardwood Manufacturers Association. “Plus, with an expected life span of up to 100 years for certain premium hardwood flooring, you can be assured that that the hardwood really is a one-time investment with a very long-term payoff.”

Real estate agents also agree that carpeting does not usually impress potential buyers, but hardwood floors are always a draw. Engineered wood floors impart warmth, depth and richness to a home’s decor that cannot be matched by carpeting, tile or vinyl flooring.

Despite the existence of modern architectural trends in flooring, hardwood can still compete with floor tiles and other artificial materials. It comes in a variety of colours and grains; light, medium, or dark shades; and a variety of sizes, styles, finishes and species. Maple, mahogany and oak are the most popular woods, but some homeowners are investing in exotics such as Brazilian cherry and purpleheart.

Indoor air quality is one of the top health threats and wood floors can help contribute to a healthy living environment. In fact, a recent study found that pesticides used in gardens and homes accumulate on floors and other surfaces in the home, but that wood floors greatly reduce the accumulation of such toxins. Hardwood floors also do not trap or harbour dust mites or molds.

Though wood floors will probably need to be refinished at some point, when properly taken care of they are much easier to maintain than other floor surfaces. It is recommended to regularly sweep hardwood floors with a soft-bristle broom or dust mop to remove surface dirt and debris. If your floor contains beveled edges, it is recommended to use a vacuum with a soft bristle brush attachment to remove dirt and debris from between the floorboards.

Having hardwood floors could be the difference between selling your home or watching a potential buyer walk out the door on a less-appealing type of flooring.


Money In Your Pocket: Attention Real Estate Buyers and Owners

April 4, 2011

Thought it was worth posting this article from the Vancouver Sun again.

Some highlights include the Home Buyers’ Plan (withdrawing money from RRSP’s for down payment), First Time Home Buyers’ Program, low interest renovation loans and the LimeSmart BC: Efficiency Incentive Program. There are 25 grants and rebates in total so check them out here.


Vancouver is Tops Again

February 21, 2011

Vancouver has retained its ranking as the #1 most livable city in the world, according to a survey conducted by The Economist Intelligence Unit. Read the Vancouver Sun article here.


Going Green?

February 8, 2011

Go here to find out about the range of available grants, incentives and rebates. And feel good about helping to save the environment :^)


Thought for the Day

January 26, 2011

“You can’t hold a man down without staying down with him.” – Booker T. Washington


Home Sellers: Cut to the Chase in Home Repairs and Enhancements

January 10, 2011

Here is my January 2011 newsletter, which you can also find here.

It’s a good idea for home sellers to be on their toes to give their homes maximum appeal. Not only should sellers complete the home repairs they know must be made, they can also hire a certified home inspector to thoroughly and impartially evaluate their properties.

If this inspection results in a fix-it list, review the list with your real estate professional to establish necessities and priorities. Depending on your budget and objectives, you may want to repair only items that could cause significant deterioration to your property, such as a leaky roof. Ideally, the closer you can get your home to “move-in-ready” status, the more likely you are to attract today’s cautious and discerning buyers.

Among the most common repairs and enhancements yielding immediate buyer appeal include:

Paint inside and outside in neutral colors
Steam clean or replace carpets
Polish or replace hardwood floors
Clean or re-grout kitchen and bathrooms
Replace light fixtures
Change light bulbs throughout and replace wall-switch covers
Repair dripping faucets
Fix sticking doors
Repair broken fencing

Home sellers wanting to do more may want to consider the findings of Remodeling Magazine’s 2010-’11 Cost vs. Value Report, released in December 2010. The survey used input from REALTORS in 80 cities to rank home remodeling projects according to those that bring the greatest cost recovered at sale.

Many of the top projects focus on exterior replacements, as replacements are generally less expensive than other types of projects and they add all-important curb appeal – essential for today’s competitive market or any other.

The Top Five projects in the Cost vs. Value Report include:

No. 1 – Entry door replacement (steel)
No. 2 – Garage door replacement (four-section door, reuse existing motorized opener)
No. 3 – Siding replacement (fibre-cement siding)
No. 4 – Kitchen remodel (minor: new cabinet doors, drawers and hardware, plus new energy-efficient appliances, flooring, counters, sink and faucet)
No. 5 – Deck addition (wood)

When the dust clears and projects are complete, be sure that you and your real estate professional document your repairs and enhancements, and share the report with prospective buyers. Walk prospects through the enhancements and include their costs.

A home in good condition demonstrates pride of ownership. Taking the time to make enhancements helps ensure your home is presented in its best-possible light, primed for sale.

Mike Giesbrecht can be reached at 604-787-9197. Prudential Sussex Realty is an independently owned and operated member of The Prudential Real Estate Affiliates, Inc., a Prudential company.


Some Interesting West Vancouver 2-Br Condo Sales

January 9, 2011

A more detailed analysis of what’s happening / what happened in the West Vancouver condo market will follow, but for now here are a few pictures of homes that sold in 2010. There were 109 sales in total.

The most expensive to sell was this offering:

For a little under $2 million, you would have gotten over 1400 square feet of luxurious, penthouse living space, some pretty good views and a location literally just steps from restaurants and shops.

The least expensive to sell was this offering:

For under $355,000. you could have been living in a 741 square foot, renovated home in Dundarave.

Right in the middle of all the sales we have this one:

Under $730,000. would have bought you over 1200 square feet of living area, some ocean view and a building under 12 years old.


Significant 1-Br Condo Apartment Sales in West Vancouver

January 8, 2011

A more detailed analysis of what’s happening / what happened in the West Vancouver market will follow, but for now here are a few pictures of homes that sold in 2010. There were 42 sales in total.

The most expensive to sell was this offering:

For a little under $1.5 million, you would have gotten this 1400 square foot condo on the water with some spetacular views. Home had not been updated in a while, but the view was very today!

The least expensive to sell was this offering:

For under $215,000. you could have been living in a 645 square foot home with a view of the mountains. Ambleside for this price? Probably one of the best deals last year.

Right in the middle of all the sales we have this one:

Nicely renovated home with ocean views in a well-maintained building over 40 years old. Seawall is just steps away.


Variable Rate Mortgage?

January 7, 2011

If you have one right now, please keep in mind these upcoming dates when the Bank of Canada will announce its interest rate decsions:

January 18, 2011
March 1, 2011
April 12, 2011

I would encourage you to talk to your mortgage broker if you are thinking about making any changes.


Significant House Sales in West Vancouver

January 7, 2011

A more detailed analysis of what’s happening / what happened in the West Vancouver market will follow, but for now here are a few pictures of homes that sold in 2010.

The most expensive to sell was this offering:

For under $11,000,000. you would have gotten over 5000 square feet of indoor living space on almost 1/3 acre of oceanside property on truly one of the nicest streets in West Vancouver.

The least expensive to sell was this offering:

Less than $625,000. would have gotten you this view. House was in need of some work, but did I mention the view?

Right in the middle of all the sales we have this one:

Actually there were 5 to choose from at this price point (just under $1.5 mil, the median sale price for West Vancouver homes last year) If you had pulled the trigger on this one, you would now be living in a 27 year old home in Caulfeild; over 3400 square feet of indoor living space on almost 1/3 of an acre lot. Tastefully renovated about 10 years ago, there is also a pretty good view to enjoy.


Significant Sales of 1-Br Condo Apartment Properties in Lower Lonsdale

January 5, 2011

A more detailed analysis of what’s happening / what happened in the Lower Lonsdale market will follow, but for now here are a few pictures of homes that sold in 2010.

The most expensive to sell was this offering:

A little under $630,000. would have gotten you around 650 square feet of air-conditioned living space, stainless steel appliances, a pretty good view and a building only about a year old.

The least expensive to sell was this offering:

A little under $200,000. would have gotten you 604 sqare feet of living space in a corner unit with peek-a-boo downtown views, in a 30-year old building.

Right in the middle of all the sales we have this one:

For a little under $320,000. you would now be living in a suite in a 3-year old building, offering 512 square feet of air conditioned living space, stainless steel appliances, hardwood floors and an eastern exposure.


Vancouver Real Estate Market Stable At Year-End

January 5, 2011

The Greater Vancouver residential housing market entered three distinctive phases in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2010 reached 30,595, a 14.2 per cent decrease from the 35,669 sales recorded in 2009, but a 24.2 per cent increase from the 24,626 residential sales in 2008. Last year’s number of housing sales was 10.3 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 increased 9.7 per cent in 2010 to 58,009 compared to the 52,869 properties listed in 2009. Compared to 2008, last year’s total represents a 7.3 per cent decline compared to the 62,561 residential properties listed in 2008. The number of properties added to the MLS® peaked in April and generally declined for the remainder of the year.

“The last two years have been a bit of a rollercoaster for the real estate market. However, sales over the past six months have definitely shown a trend toward stability. We think that’s good news for home buyers and sellers,” Jake Moldowan, REBGV president said. “The Greater Vancouver housing market experienced a modest increase in home prices in 2010, and a continual decrease in the number of properties being listed for sale.”

Residential property sales in Greater Vancouver totalled 1,899 in December 2010, a decrease of 24.5 per cent from the 2,515 sales recorded in December 2009—an all time record for the month—and a 24.3 per cent decline compared to November 2010 when 2,509 home sales occurred.

More broadly, last month’s residential sales represent a 105.5 per cent increase over the 924 residential sales in December 2008, a 0.1 per cent increase compared to December 2007’s 1,897 sales, and a 12.6 per cent increase compared to the 1,686 sales in December 2006.

The residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 2.7 per cent to $577,808 between Decembers 2009 and 2010. However, prices have decreased 2.6 per cent since hitting a peak of $593,419 in April 2010.

“Although we saw some pressure on home prices throughout the year, home values in 2010 remained relatively steady in the region compared to the last few years when we witnessed much more fluctuation,” Moldowan said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,699 in December 2010. This represents a 21.1 per cent decline compared to the 2,153 units listed in December 2009 and a 43.9 per cent decline compared to November 2010 when 3,030 properties were listed.
Sales of detached properties in December 2010 reached 769, a decrease of 14.8 per cent from the 902 detached sales recorded in December 2009, and a 121.1 per cent increase from the 348 units sold in December 2008. The benchmark price for detached properties increased 4.0 per cent from December 2009 to $797,868.

Sales of apartment properties reached 811 in December 2010, a decline of 29.7 per cent compared to the 1,154 sales in December 2009, and an increase of 94.5 per cent compared to the 417 sales in December 2008.The benchmark price of an apartment property increased 1.2 per cent from December 2009 to $387,115.

Attached property sales in December 2010 totalled 319, a decline of 30.5 per cent compared to the 459 sales in December 2009, and a 100.6 per cent increase from the 159 attached properties sold in December 2008. The benchmark price of an attached unit increased 2.7 per cent between December 2009 and 2010 to $490,869.

– from REBGV


The Year in Review for Lower Lonsdale 2-Br Condos

January 4, 2011

A more detailed analysis of what’s happening / what happened in the Lower Lonsdale market will follow, but for now here are a few pictures of homes that sold in 2010.

The most expensive to sell was this offering:

$1,000,000. would have gotten you a little over 1000 square feet, water and city views and a brand new building.

The least expensive to sell was this offering:

For under $265,000., you would have gotten a two-bedroom, 2-bathroom, 924 square foot home in a 34 year old building. No view here but you’re close enough to the water that you can see it when you step outside.

Right in the middle of all the sales we have this one:

For under $475,000. you would now be living in a 19 year old building, offering 980 square feet of living space, a couple of bedrooms and bathrooms and a pretty good view of the city and water.


Happy New Year Vancouver!

January 2, 2011

Inaudible Language of the Heart

December 16, 2010

Occasionally in life there are those moments of unutterable fulfillment which cannot be completely explained by those symbols called words. Their meanings can only be articulated by the inaudible language of the heart.

– Martin Luther King Jr


Housing Market Recovers from Summer Doldrums

December 14, 2010

Vancouver, BC – December 14, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 20 per cent in November from October 2010, on a seasonally adjusted basis. Compared to November of last year, MLS® residential unit sales were down 21 per cent to 5,647 units. The average MLS® residential price rose 9 per cent to $523,394 in November compared to the same month last year.

“Improved economic conditions and low mortgage interest rates have contributed to a 46 per cent increase in home sales since July,” said Cameron Muir, BCREA Chief Economist. Employment in BC eclipsed the July 2008 record by 2,600 jobs last month, while the unemployment rate dipped to 6.9 per cent, the lowest recorded since January 2009.

“The inventory of homes for sale has trended lower since last spring, improving market conditions in many areas of the province,” added Muir. Vancouver and Victoria climbed back into balanced market conditions in last month.

Year-to-date, BC residential sales dollar volume declined 4 per cent $35.5 billion, compared to the same period last year. Residential unit sales declined 11 per cent to 70,382 year-to-date, while the average MLS® residential price climbed 9 per cent to $504,042 over the same period.

– from BCREA


West Vancouver Detached Property Statistics

December 14, 2010

There are currently 330 detached properties for sale in West Vancouver, ranging in price from $675,000. to $39,900., with the average asking price coming in at $2,809,248. There have been 192 sales since September, with the average selling price being $1,990,845. The lowest sale price achieved so far this year was for $620,000. in October. The highest sale price achieved so far this year was for $10,000,000. in May. With 330 homes currently for sale and 73 sales last month, there is a 4 & 1/2 month supply of homes.

There are currently 19 detached properties for sale in Ambleside, ranging in price from $899,000. to $4,250,000., with the average asking price coming in at $1,944,252. There have been 19 sales since September, with the average selling price being $1,528,964. The lowest sale price achieved so far this year was for $825,008. in September. The highest sale price achieved so far this year was for $4,750,000. in June. With 19 homes currently for sale and 9 sales last month, there is a 2 month supply of homes.

There are currently 20 detached properties for sale in Dundarave, ranging in price from $1,149,000. to $9,980,000., with the average asking price coming in at $2,441,500. There have been 16 sales since September, with the average selling price being $1,983,625. The lowest sale price achieved so far this year was for $989,000. in October. The highest sale price achieved so far this year was for $3,250,000. in June. With 20 homes currently for sale and 4 sales last month, there is a 5 month supply of homes.


North Vancouver Condo Apartment Property Statistics (2-Br)

December 9, 2010

North Vancouver
In North Vancouver there are currently 178 active two-bedroom properties for sale, ranging in price from $215,000. to $2,588,000., with the average asking price being $515,342. There have been 116 sales since September, with the average selling price being $447,336. and the average cost per square foot being $445. The least expensive sale price this year was for $190,000. in September and the most expensive was for $1,120,000. in February. With 178 properties currently for sale and with 22 sales last month, there is currently an 8 month supply of homes.

Lower Lonsdale
In Lower Lonsdale there are currently 53 active two-bedroom properties for sale, ranging in price from $285,000. to $2,588,000., with the average asking price being $728,265. There have been 31 sales since September, with the average selling price being $494,416. and the average cost per square foot being $497. The least expensive sale price so far this year was for $260,000. in September and the most expensive was for $1,000,000. in June. With 53 properties currently for sale and 7 sales last month, there is currently a 7 & 1/2 month supply of homes.

The Pier
In The Pier there are currently 15 active two-bedroom properties for sale, ranging in price from $535,800. to $2,588,000., with the average asking price being $728,265. There have been 5 sales since September, with the average selling price being $537,500. and the average cost per square foot being $550. The least expensive sale price on record this year was for $510,000. in May and the most expensive was for $1,000,000. in June. With 15 properties currently for sale and no sales last month, there is currently a significant supply of homes.


North Vancouver Condo Apartment Property Statistics (1-Br)

December 7, 2010

North Vancouver
In North Vancouver there are currently 192 active one-bedroom properties for sale, ranging in price from $169,900. to $649,900., with the average asking price being $343,558. There have been 144 sales this year, with the average selling price being $314,991. and the average cost per square foot being $458. The least expensive sale price this year was for $155,000. in April and the most expensive was for $495,900. in March. With 192 properties currently for sale and 27 sales last month, there is currently a 7 month supply of homes.

Lower Lonsdale
In Lower Lonsdale there are currently 80 active one-bedroom properties for sale, ranging in price from $219,900. to $599,900., with the average asking price being $340,384. There have been 66 sales this year, with the average selling price being $318,497. and the average cost per square foot being $473. The least expensive sale price this year was for $195,000. in April and the most expensive so far this year was for $495,000. in March. With 80 properties currently for sale and11 sales last month, there is currently a 7 month supply of homes.

The Pier
In The Pier there are currently 9 active one-bedroom properties for sale, ranging in price from $349,000. to $599,900., with the average asking price being $481,744. There have been 3 sales this year, with the average selling price being $406,666. and the average cost per square foot being $589. The least expensive sale price this year was for $390,000. in April and the most expensive so far this year was for $440,000. in April. With 9 properties currently for sale and 2 sale last month, there is currently a 4 & 1/2 month supply of homes.


More Sales, Fewer Property Listings in November

December 2, 2010

Greater Vancouver residential home sales improved in November compared to the previous four months, with the number of sales posted on the Multiple Listing Service® (MLS®) coming in slightly higher than the 10-year average for that month.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,509 in November 2010. This represents a 7.4 per cent increase compared to October 2010 and an 18.6 per cent decline from the 3,083 sales in November 2009.

Looking back further, last month’s residential sales represent a 187.1 per cent increase over the 874 residential sales in November 2008, a 13 per cent decline compared to November 2007’s 2,883 sales, and a 6.4 per cent increase compared to the 2,358 sales in November 2006.

“Housing sales numbers were fairly typical for a November and indicate a fairly balanced market. Activity on the buyer side has been stable, with slight increases, over the last few months while the number of homes listed for sale in our region has declined each month since we reached a peak in June,” Jake Moldowan, REBGV president said.

Total active residential property listings in Greater Vancouver currently sit at 12,384, a 12.1 per cent decline from last month and a 12 per cent increase from November 2009. New listings for detached, attached and apartment properties declined 17.1 per cent to 3,030 in November 2010 compared to November 2009 when 3,653 new units were listed.

“Home values have been relatively stable over the last five months compared to the summer period when we were seeing some downward pressure on prices,” Moldowan said. “It’s the homes priced accurately for today’s market that are receiving a lot of attention and selling right now.”

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 4.1 per cent to $580,080 in November 2010 from $557,384 in November 2009. This price has remained virtually unchanged since June of this year.

Sales of detached properties on the MLS® in November 2010 reached 1,050, a decrease of 9.8 per cent from the 1,164 detached sales recorded in November 2009, and a 226.1 per cent increase from the 322 units sold in November 2008. The benchmark price for detached properties increased 5.6 per cent from November 2009 to $799,312.

Sales of apartment properties reached 1,052 in November 2010, a decline of 24.6 per cent compared to the 1,396 sales in November 2009, and an increase of 156.6 per cent compared to the 410 sales in November 2008.The benchmark price of an apartment property increased 1.9 per cent from November 2009 to $389,168.

Attached property sales in November 2010 totalled 407, a decline of 22.2 per cent compared to the 523 sales in November 2009, and a 186.6 per cent increase from the 142 attached properties sold in November 2008. The benchmark price of an attached unit increased 4.1 per cent between November 2009 and 2010 to $488,733.

– from REBGV


Vancouver Home Sales Trend Higher

November 16, 2010

Vancouver, BC – November 15, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 36 per cent to 5,507 units in October compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 2 per cent in October from September 2010. The average MLS® residential price climbed 6 per cent to $521,859 in October compared to the same month last year.

“BC home sales have posted moderate gains since the summer months,” said Cameron Muir, BCREA Chief Economist. “Consumer demand was bolstered by double-dip in mortgage interest rates and the associated increase in purchasing power.”

“Total active residential listings in the province have declined 18 per cent since June,” added Muir. “However, the housing market remains tilted in favour of homebuyers.”

Year-to-date, BC residential sales dollar volume declined 2 per cent $32.5 billion, compared to the same period last year. Residential unit sales declined 10 per cent to 64,735 year-to-date, while the average MLS® residential price climbed 9 per cent to $502,353 over the same period.

– from BCREA


North Vancouver Condo Property Statistics (1-Br)

November 8, 2010

North Vancouver
In North Vancouver there are currently 146 active one-bedroom properties for sale, ranging in price from $164,900. to $549,900., with the average asking price being $331,778. There have been 70 sales since August, with the average selling price being $302,112. and the average cost per square foot being $443. The least expensive sale price this year was for $156,000. in January and the most expensive was for $629,900. in June. With 146 properties currently for sale and 26 sales last month, there is currently a 5 & 1/2 month supply of homes.

Lower Lonsdale
In Lower Lonsdale there are currently 56 active one-bedroom properties for sale, ranging in price from $199,900. to $549,000., with the average asking price being $339,263. There have been 35 sales since August, with the average selling price being $305,628. and the average cost per square foot being $462. The least expensive sale price this year was for $199,000. in April and the most expensive so far this year was for $629,900. in June. With 56 properties currently for sale and 11 sales last month, there is currently a 5 month supply of homes.

The Pier
In The Pier there are currently 6 active one-bedroom properties for sale, ranging in price from $347,000. to $549,000., with the average asking price being $430,633. There have been 4 sales since August, with the average selling price being $372,625. and the average cost per square foot being $568. The least expensive sale price this year was for $315,000. in March and the most expensive so far this year was for $629,900. in June. With 6 properties currently for sale and an average of 1 sale per month over the last 3 months, there is currently a 6 month supply of homes.


Home Sales Remain Steady in Greater Vancouver

November 2, 2010

Greater Vancouver home sales have remained steady over the past four months, indicating stability in the residential housing market. With the MLS® sales to active listing inventory ratio indicating a buyers’ market, properties appropriately priced are selling.

According to the MLSLink® Housing Price Index (HPI), the benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 4.6 per cent to $579,349 in October 2010 from $553,702 in October 2009. Since June, however, residential home prices in Greater Vancouver have remained relatively unchanged, declining 0.2 per cent.

“We’ve seen a lot more consistency and less volatility in recent months when it comes to both number of sales and pricing, although it’s important to remember that conditions often vary between communities and neighbourhoods,” Jake Moldowan, Real Estate Board of Greater Vancouver (REBGV) president said.

Looking at transactions, the number of residential property sales in Greater Vancouver totalled 2,337 in October 2010. This represents a 5.3 per cent increase compared to September 2010 and a 36.9 per cent decline from the 3,704 sales in October 2009.

More broadly, last month’s residential sales represent a 71.3 per cent increase over the 1,364 residential sales in October 2008, a 22.8 per cent decline compared to October 2007’s 3,028 sales, and a 14.1 per cent decline compared to the 2,722 sales in October 2006.

“As we enter the final two months of the year, buyer demand is in closer alignment with supply than we’ve seen for most of 2010,” Moldowan said. “Those buying today recognize that they still have a chance to enter the market with near-record low interest rates, while gradual reductions in inventory have eased downward pressure on prices.”

Total active listings on the Multiple Listing Service® (MLS®) in Greater Vancouver currently sit at 14,075, an 8.6 per cent decline from last month and a 16.4 per cent increase from October 2009. New listings for detached, attached and apartment properties declined 25.7 per cent to 3,698 in October 2010 compared to October 2009 when 4,977 new units were listed.

Sales of detached properties in October 2010 reached 976, a decrease of 34.4 per cent from the 1,487 detached sales recorded in October 2009, and a 98 per cent increase from the 493 units sold in October 2008. The benchmark price for detached properties increased 6.3 per cent from October 2009 to $796,883.

Sales of apartment properties reached 984 in October 2010, a decline of 38.8 per cent compared to the 1,607 sales in October 2009, and an increase of 52.1 per cent compared to the 647 sales in October 2008.The benchmark price of an apartment property increased 2.4 per cent from October 2009 to $390,074.

Attached property sales in October 2010 totalled 377, a decline of 38.2 per cent compared to the 610 sales in October 2009, and a 68.3 per cent increase from the 224 attached properties sold in October 2008. The benchmark price of an attached unit increased 4 per cent between October 2009 and 2010 to $487,530.

– from REBGV


We Oft Might Win

October 21, 2010

“Our doubts are traitors,
And make us lose the good we oft might win,
By fearing to attempt.”

– William Shakespeare


Real Estate Contracts

October 18, 2010

When you want to purchase a property, you have your realtor draw up a contract and you put in the contract terms that you find agreeable or at least what you think the seller will find agreeable. These are negotiable terms and include things such as price, amount of deposit, dates and subject clauses. You negotiate back and forth until eventually the buyer and seller sign off on everything and you have a binding contract. The buyers have promised to do everything in their power to fulfill their obligations and the sellers have agreed to do the same. I would encourage you if you are a buyer to make sure you get everything you have asked for in the binding contract. If the contract states that you are to receive an entire strata plan, then make sure that is what you receive instead of just one page. If the contract states that you are to receive any and all consultants’ or engineers’ reports, then that is what you should receive. It doesn’t matter if the listing realtor thinks it is unnecessary. If it’s in the contract and all parties have signed off, the time for negotiating is not now. Make sure the other party honours their side of things and ensure that you do too. If we all do what we are supposed to do, we’re that much closer to having a successful transaction.


Photos From A Bike Ride This Morning

October 17, 2010

Market Conditions Beginning to Improve

October 13, 2010

Vancouver, BC – October 13, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 36 per cent to 5,511 units in September compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 2 per cent in September from August 2010. The average MLS® residential price climbed 4 per cent to $493,846 in September compared to the same month last year.

“BC home sales increased for the second consecutive month in September,” said Cameron Muir, BCREA Chief Economist. “However, consumer demand is still noticeably lower than last fall’s frenetic pace.”

“Market conditions have improved, with the months of supply declining from 11.1 in June to 8.9 in September,” added Muir. A balanced market typically exhibits five to seven months of supply.

“The current downward pressure on mortgage rates is expected to bolster housing demand this fall as consumers take advantage of a second opportunity to secure near record low interest rates,” noted Muir.

Year-to-date, BC residential sales dollar volume increased 2 per cent to $29.6 billion, compared to the same period last year. Residential unit sales declined 7 per cent to 59,228 year-to-date, while the average MLS® residential price climbed 9 per cent to $500,539 over the same period.

– from BCREA


Lower Lonsdale and the Living is Good!

October 9, 2010

Enjoy the Lower Lonsdale Lifestyle in this stellar suite with a MONSTER-SIZED patio.


North Vancouver Condo / Apartment Property Statistics (1-Br)

October 5, 2010

North Vancouver
In North Vancouver there are currently 126 active one-bedroom properties for sale, ranging in price from $199,900. to $599,900., with the average asking price being $337,063. There have been 60 sales since July, with the average selling price being $309,875. and the average cost per square foot being $452. The least expensive sale price this year was for $156,000. in January and the most expensive was for $629,900. in June. With 126 properties currently for sale and 17 sales last month, there is currently a significant month supply of homes.

Lower Lonsdale
In Lower Lonsdale there are currently 55 active one-bedroom properties for sale, ranging in price from $199,900. to $585,000., with the average asking price being $337,525. There have been 33 sales since July, with the average selling price being $322,410. and the average cost per square foot being $484. The least expensive sale price this year was for $199,000. in April and the most expensive so far this year was for $629,900. in June. With 55 properties currently for sale and 9 sales last month, there is currently a significant supply of homes.

The Pier
In The Pier there are currently 5 active one-bedroom properties for sale, ranging in price from $352,900. to $585,000., with the average asking price being $432,979. There have been 5 sales since July, with the average selling price being $373,900. and the average cost per square foot being $566. The least expensive sale price this year was for $315,000. in March and the most expensive so far this year was for $629,900. in June. With 5 properties currently for sale and 1 sale last month, there is currently a 5 month supply of homes.


North Vancouver Condo / Apartment Property Statistics (2-Br)

October 4, 2010

North Vancouver
In North Vancouver there are currently 208 active two-bedroom properties for sale, ranging in price from $220,000. to $2,588,000., with the average asking price being $503,907. There have been 100 sales since July, with the average selling price being $452,286. and the average cost per square foot being $453. The least expensive sale price this year was for $229,000. in July and the most expensive was for $1,120,000. in February. With 208 properties currently for sale and with 46 sales last month, there is currently a 4 & 1/2 month supply of homes.

Lower Lonsdale
In Lower Lonsdale there are currently 63 active two-bedroom properties for sale, ranging in price from $292,000. to $2,588,000., with the average asking price being $572,719. There have been 34 sales since July, with the average selling price being $495,852. and the average cost per square foot being $501. The least expensive sale price so far this year was for $267,000. in April and the most expensive was for $1,000,000. in June. With 63 properties currently for sale and 13 sales last month, there is currently a 5 month supply of homes.

The Pier
In The Pier there are currently 12 active two-bedroom properties for sale, ranging in price from $599,000. to $2,588,000., with the average asking price being $831,100. There have not been any recorded sales since July, although I am told there have been a few that the developer did not put on realtor.ca. The least expensive sale price on record this year was for $510,000. in May and the most expensive was for $1,000,000. in June. With 12 properties currently for sale and one sale last month, there is currently a significant supply of homes.


Living on the Quiet Side of the Building

September 30, 2010

When you’re reading the remarks for a real estate listing, you will often come across the phrase, “situated on the quiet side of the building.” As realtors, we do our best to put a positive spin on things, so it is not very often you will see, “situated on the noisier side of the building.” It’s just like when you’re first dating someone. You put your best foot forward and try to bring attention to your positive attributes (I hear listening is an attractive quality), while minimizing the less than positive ones. Eventually, your less-appealing attributes will come out, but hopefully they will seem insignificant in light of all the positives. So to tie this back to real estate, the less-appealing features of a home will come out too, but in the light of the positive attributes. It’s your decision after that what you want to do with the information you have been given and with what you have been able to observe firsthand.