Wednesday, February 19th, 2014 at 11:11am. 254 Views, 0 Comments.
First-time home buyers received long awaited and welcome news yesterday when the provincial government released the new budget. Effective for properties registered on or after February 19th, under the First-Time Home Buyers Program, you can now purchase a home worth up to $475,000 without incurring PPT (Property Transfer Tax). They have also continued the partial exemption which now applies to homes valued between $475,000 to $500,000.
What could this mean for you? Up to $7500 that you can put back in your pocket. Or maybe instead of buying a condo, you can now qualify to purchase a townhouse, or instead of an attached property... you can qualify for a detached home.
The Real Estate Board of Greater Vancouver along with the BC Real Estate…
Thursday, February 13th, 2014 at 6:13pm. 460 Views, 0 Comments.
In North Vancouver prices are up by approximately 4% across all property types this January compared to last. While detached sales remain relatively unchanged, North Vancouver attached sales have increased. Apartment sales are up 32% and townhouse sales are up 12% over January 2012. We've also noticed in these early weeks of February that sales on new listings are happening more quickly... and that even 60 - 120 day old listings are starting to move.
Now let's talk inventory. The total number of detached listings is down by 23.4% compared to last January and townhouse listings are also down (by 17%). This would be why those 'older' listings are starting to sell as more buyers enter the real estate market in these early stages of spring. On the flip…
Tuesday, February 11th, 2014 at 5:03pm. 221 Views, 0 Comments.
Throughout 2013, the North Shore housing market maintained a consistent balance between supply and demand. This resulted in modest price and sales increases. While we didn't see record-breaking sales months as we have in past years, it was definitely a stronger market in 2013 compared to 2012 where the market peaked in April and ended on a less than stellar note. This year, however, North Vancouver prices are up over last December and so are sales, with the exception of townhouses.
We didn't really see too much of a slow-down in December and were still showing properties as late as Christmas Eve! Buyers definitely remain on the lookout.
North Vancouver detached home prices are up 4% over last December, condos are up by 3% and townhouses by…
Friday, November 29th, 2013 at 12:42pm. 938 Views, 0 Comments.
While pricing remains unchanged, North Vancouver real estate sales are up (again) by 38% over last October. Specifically detached sales are +35.6%, attached sales are +56%, and condos sales are +35.1%. West Vancouver is seeing the same trend, but their detached pricing increased modestly (+3%). WV detached sales are up by +56.9%, attached sales +450%, and condos sales +50%.
Let us know what you think of the new interactive graphs!
North Vancouver Pricing Index - Interactive Graph
North Vancouver Sales Index - Interactive Graph
West Vancouver Pricing Index - Interactive Graph
West Vancouver Sales Index - Interactive Graph
Sunday, October 6th, 2013 at 12:41pm. 1,314 Views, 0 Comments.
North Vancouver real estate sales are up by 58.8% over last September and listing inventory is down. Broken out it looks like this: detached sales +71.1% and inventory -21.3, attached sales +115.4% and inventory -20.0%, and condos sales +29.5% and inventory -10.0%.
So why haven't we experienced huge fluctuations in local home values over the past year? Well, prices didn't quickly and 'artificially' inflate like in some markets, plus it's important to consider that we're in line with the 10-year sales average. The real estate market held its own during a slow market and now we're seeing things gradually get back to normal. If anybody really knows what that means.
What's impressive is that our home prices didn't see a significant decrease through the…
Thursday, September 12th, 2013 at 6:20pm. 850 Views, 0 Comments.
Busy summer! Sales were well above average compared to 2012 and in fact, North Vancouver experienced the highest number of sales in July and August since 2009. Despite the extremely slow pace over the past year, prices have held steady. All time highs were reached in the spring of 2012, over all property types, in North Van and bottomed out in December and January. We've slowly been edging up almost every month since.
Last July, CMHC changed many of their rules and regulations surrounding lending which changed the market almost immediately. In retrospect, it was like somebody turned the lights off. This year, the interest rate increase(s) along with CMHC's latest announcement that they will now (annually) cap the amount that they will insure each…
Wednesday, July 31st, 2013 at 10:41pm. 920 Views, 0 Comments.
Sorry, folks. The last few months have been busier than what is typical for this time of year. Mainly due to interest rate increase, I would suspect as there has been considerable first time buyer movement in the real estate market. Please bear with us as we try to catch up on our stats...hopefully!
Stats are provided by the Real Estate Board of Greater Vancouver; feel free to view the complete REBGV Stats Package for May, 2013 on their website.
Wednesday, May 15th, 2013 at 8:17pm. 1,347 Views, 0 Comments.
We've seen modest price increases across the board yet home sales are well below average for this time of year. This means sellers need to price their properties accurately to sell quickly and for top dollar. Buyers are ready, willing and able to move on a purchase if they see value. This is evident amongst all of our clients and it is also indicated by the decrease in the average days on market for all property types in North Vancouver, West Vancouver and Vancouver.
In summary, this April was not 'the busiest month on record' by any means... but the market is showing its strength in numbers so-to-speak. In recent weeks we've felt an indication that things might cool down a bit early this spring but we'll just have to wait and see!
Friday, April 5th, 2013 at 6:18pm. 1,341 Views, 0 Comments.
North Vancouver detached home sales increased with another big jump, 49% over February's increase of 51%. While all market sales are up, detached properties are the busiest with 113 home sales and 36 of those selling at or over asking price, compared to 76 and 11 (respectively) in February. Buyers are still cautious as indicated by the marginal price increase from $924,200 to $936,100. Attached prices are up by 4.2% while condos are near 1%.
The West Vancouver detached market has finally pulled out some positive numbers with a 54% increase in detached sales over February's weak market performance. However, only 4 homes sold at or over aksing. Prices are holding fairly steady with little to no change in the detached market while the condo market has…
Saturday, March 9th, 2013 at 11:02am. 1,235 Views, 0 Comments.
We’re seeing signs that the standoff between buyers and sellers is coming to an end. Open houses are busier, listing inquiries are through the roof, and we’re experiencing more first-time homebuyers putting pen to paper than over the last 6 months, especially in these first few weeks of March
Sales are still down over last year by about 30% in Greater Vancouver; 27% in Vancouver West, 24% in North Vancouver and a whopping 51% in West Vancouver. The good new is that sales are up 33% over last month in Greater Vancouver. North Vancouver sales have increased by 47% while sales in West Van seem to be stagnant with relatively no change. Vancouver West is a bit below average at 27%.
Sellers need to take all market factors into consideration before listing…