West Vancouver Condo Apartment Property Statistics (1-Br)

December 18, 2010

WEST VANCOUVER
In West Vancouver there are currently 23 active one-bedroom properties for sale, ranging in price from $250,000. to $799,000., with the average asking price being $486,643. There have been 12 sales since September, with the average selling price being $454,737. and the average cost per square foot being $603. The least expensive sale price so far this year was for $210,000. in February and the most expensive was for $1,470,000. in September. With 23 properties currently for sale and with 2 sales last month, there is currently a significant month supply of homes.

AMBLESIDE
In Ambleside there are currently 11 active one-bedroom properties for sale, ranging in price from $285,500. to $549,900., with the average asking price being $400,636. There have been 5 sales since September, with the average selling price being $377,374. and the average cost per square foot being $524. The least expensive sale price so far this year was for $210,000. in September and the most expensive was for $775,000. in April. With 11 properties currently for sale and with 1 sale last month, there is currently a significant supply of homes.

DUNDARAVE
In Dundarave there are currently 6 active one-bedroom properties for sale, ranging in price from $250,000. to $799,000., with the average asking price being $567,466. There have been 5 sales since September, with the average selling price being $563,333. and the average cost per square foot being $754. The least expensive sale price so far this year was for $210,000. in February and the most expensive was for $1,470,000. in September. With 6 properties currently for sale and with no sales last month, there is currently a significant supply of homes.

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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