BC Home Sales Post Strongest October in Four Years

Posted on November 18, 2013 by Gabe Bandel

For immediate release

BC Home Sales Post Strongest October in Four Years

Vancouver, BC – November 15, 2013. The British Columbia Real Estate Association (BCREA) reports that a total of 6,673 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during October, up 26.5 per cent from October 2012. Total sales dollar volume was 34.5 per cent higher than a year ago at $3.6 billion. The average MLS® residential price in the province was $540,432, up 6.3 per cent from October 2012.

"The fall housing market is shaping up to be the most active in four years,” said Cameron Muir, BCREA Chief Economist. “Persistently low mortgage interest rates and an element of pent-up demand have driven home sales higher in the province’s large Lower Mainland and Vancouver Island markets."

"While the rebound in consumer demand has been significant, home sales are trending near the long-term average and any continued acceleration will depend on stronger economic and employment growth,” added Muir.

Year-to-date, BC residential sales dollar volume was up 8.2 per cent to $33.6 billion, compared to the same period last year. Residential unit sales were up 5.1 per cent to 63,020 units, while the average MLS® residential price was up 2.9 per cent at $533,321.

-30-

Source: BC REA (B.C. Real Estate Association)

Read

I have sold a property at 956 21ST AVE W in Vancouver

Posted on November 14, 2013 by Gabe Bandel

Posted in Cambie, Vancouver West Real Estate

I have sold a property at 956 21ST AVE W in Vancouver

Property Photo: 956 21ST AVE W in Vancouver

I have sold a property at 956 21ST AVE W in Vancouver.

See details here

A fantastic location is just steps to Douglas Park Community Centre, Park & Cambie Village shops, restaurants, theatre and transportation. This large 3 level home currently contains 3 separate suites, one on each level. Bright south side 33 x 122 RS-5 zoned property on a pretty tree lined street is ready for your renovation ideas! Hold for revenue, renovate or build your dream home with a sunny south facing yard and optional lane way house. Easy walk to Emily Carr Elementary, King Edward Canada Line station--minutes to downtown and airport. Don't let this opportunity to live in Douglas Park pass you by! Call for further details.

Read

I have sold a property at 1235 13 AVE E in Vancouver

Posted on November 12, 2013 by Gabe Bandel

Posted in Mount Pleasant VE, Vancouver East Real Estate

I have sold a property at 1235 13 AVE E in Vancouver

Property Photo: 1235 13 AVE E in Vancouver

I have sold a property at 1235 13 AVE E in Vancouver.

See details here

Brand New 1/ 2 duplex home of over 2300 sq feet will impress! This beautiful 5 bedroom home offers an open plan on main with high ceilings, stunning hardwood floors, huge living/dining area & guest bath. Spacious cook's kitchen with quartz counters, wine fridge, gas range, eating bar, separate eating area & adjoining family room. In-floor radiant heat throughout and on-demand energy efficient boiler. 3 big bedrooms upstairs, including master with walk in closet, ensuite & private deck, 2nd bath & laundry. Down offers large rec room, 2 more bedrooms & full bath. 320 s.f. of storage! Outdoor leads to private garden & patio, single garage plus a carport. 2-5-10 warranty & security system. Located in the heart of Mt Pleasant.

note: photos are from 1233 East 13th which is the reverse plan).

Read

Balanced conditions continue in the Greater Vancouver housing market

Posted on November 4, 2013 by Gabe Bandel

Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2,661 on the Multiple Listing Service® (MLS®) in October 2013. This is a 37.8 per cent increase compared to the 1,931 sales recorded in October 2012, and a 7.2 per cent increase from the 2,483 sales recorded in September 2013.

New listings for attached, detached and apartment properties in Greater Vancouver totaled 4,315 in October 2013. This represents a 0.2 per cent decline from the 4,323 new listings reported in October 2012, and a decrease of 14.2 per cent compared to the 5,030 new listings reported in September of this year.

Last month’s sales were 2.8 per cent above the 10-year sales average for the month, while new listings for the month were 1.9 per cent below the 10-year average.

“We continue to see fairly typical activity when it comes to monthly home sale and listing totals,” Sandra Wyant, REBGV president said. “Today’s activity is helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 15,257, a decline of 12.2 per cent compared to this time last year, and a decline of 5.3 per cent compared to September 2013.

The sales-to-active-listings ratio is currently at 17.4 per cent in Greater Vancouver.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is $600,700. This represents a 0.5 per cent decline compared to this time last year.

Sales of detached properties reached 1,067 in October 2013, an increase of 35.1 per cent from the 790 detached sales recorded in October 2012 and a 9.5 per cent increase from the 974 units sold in October 2011. The benchmark price for detached properties decreased 0.5 per cent from October 2012 to $922,600.

Sales of apartment properties reached 1,098 in October 2013, an increase of 36.7 per cent compared to the 803 apartment sales recorded in October 2012, and an increase of 14.6 per cent compared to the 958 sales in October 2011. The benchmark price of an apartment property decreased 0.9 per cent from October 2012 to $365,600.

Attached property sales totaled 496, an increase of 46.7 per cent compared to the 338 attached property sales recorded in 2012 and a 29.8 per cent increase compared to the 382 attached property sales recorded in October 2011. The benchmark price of an attached property is $458,000, which is virtually unchanged from October 2012.

Source: Real Estate Board of Greater Vancouver

Read

BC Home Sales Post Strongest October in Four Years

I have sold a property at 956 21ST AVE W in Vancouver

I have sold a property at 1235 13 AVE E in Vancouver

Balanced conditions continue in the Greater Vancouver housing market

Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.

Why buy with me?

Why sell with me?