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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…

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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!

vancouver_stats_may_2013

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.

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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!

Sellers it's…

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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…

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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…

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Perspective homebuyers continue to disagree with sellers on the issue of price. Despite the market being quite active, this is leading to reduced sales and property values continue to be relatively stable, considering. 

The first month of 2013 brought us similar market conditions to what we saw in greater Vancouver throughout the last half of 2012. There were 1351 homes sold on the region’s MLS in January. That’s a 14% decline compared to January 2012 but an 18% increase from last month.

The number of listings in January 2013 was also down. They were 11% below January 2012. We are finding that some home sellers are opting to remove their properties from the market rather than settle for a price it doesn’t meet their expectations.

We are also…

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lower lonsdale north vancouverThe holidays and 2012 are officially over. Buyers and sellers are content to get off the sidelines. Supply is steadily increasing as sellers list their homes for sale and begin to prepare for the spring market as well. Buyers are actively looking and showing requests have recently spiked.

We believe there’s a backlog of property to be listed in the coming months. Sellers should be aware that a staged home will sell up to 90% faster, it’s that simple. The majority of buyers are looking for a turnkey property so it's more important than ever to ensure your home is marketed to it’s fullest potential. Contact us for more information on how to get your home sold quickly while earning top dollar.

Stats are provided by the Real Estate Board of Greater…

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Sales are up, listings are down, and for the first time this year our sales-to-active-listing ratio has increased. In spite of recent conditions, prices continue to subtly adjust in most markets with a few exceptions.

In West Vancouver, Vancouver’s Westside and Richmond, we saw record level price increases and all time highs this spring. Due to more selection and less demand, these values have dropped by about 6% in the past 6 months.

In North Vancouver, where pricing remained relatively stable throughout the year, the housing market remains strong in all areas. Detached sales have nearly doubled compared to last month and total inventory is also down. While condo sales have only increased slightly, the average ‘days on market’ has dropped from 76…

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Vancouver sales are down, with the exception of the detached housing market where sales have doubled in West Van and are slightly up in North Van and Vancouver's Westside. The number of new listings continues to grow however, prices remain stable in many areas. Serious buy ers are out there, taking advantage of the increased inventory and slower pace, resulting in great deals, while others are watching and waiting.

Serious sellers need to be realistic about asking prices and home preparation. Most buyers are looking for turnkey properties so it's imperative that your home shows to its fullest potential. Contact us for more information on how to get your home sold quickly while earning top dollar.vancouver_stats_sep_2012

Stats are provided by the Real Estate Board of…

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Back to school and back to work! While August was slower than normal, September is definitely busier than normal. Our buyer clients are out in full swing, still cautious but happy about the growing selection of homes for sale. Sellers have some tough competition out there in many, but not all, communities. The number of detached homes and condos being listed continues to increase at a steady pace this September, contrary to what we've experienced in recent months.

In North Vancouver all market areas (detached, attached and apartment condos) are up in value from last year while in Vancouver and West Vancouver, condos are marginally down in value. Not bad considering our somewhat slumpy summer... at least the weather was awesome!

Sellers: be realistic…

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