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indian-river-homeThe housing market is still very active but has certainly eased away from near record-setting paces. With a sales to listing ratio of 23%, our seller’s market persits as inventory remains low with a slight increase in sales, but fairly typical for May.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,931 in May 2011. This represents a 15.4 per cent decrease compared to May 2010 when 7,014 properties were listed for sale on the MLS®. New listings for May 2011, increased marginally by 1.4% compared to April 2011.

Residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,377 in May 2011, a 7% increase compared to the 3,156 sales in May 2010 and a 4.7 per cent…

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The Canadian Real Estate Association (CREA) has revised its forecast for home sales activity (2011 & 2012) due to the unexpected Q1 surge of activity in Greater Vancouver. National sales activity is now expected to reach 441,100 units in 2011, a decline of 1.3 per cent from 2010. This is a slight improvement from the 1.6 per cent decline forecast by CREA in February.

“The extent to which high priced sales activity in Vancouver will pitch up the average price locally, for British Columbia and nationally will likely diminish in the next couple of months in line with a seasonal increase in national activity,” Klump added. “That said, foreign investment in Vancouver residential real estate is showing no signs of slowing, so it seems likely to remain a…

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sunshine_coast_330In contrast to the near record pace witnessed at the beginning of this year, the Vancouver real estate market seems to be normalizing. With increased inflation and rising interest rates, sales are slowing particularitly in the entry level condo market; however prices are still on the rise and the market continues to be very active.

Along with a decline in the number of new listings, the frenzy of last month’s activity brought a greater balance to supply and demand. The Greater Vancouver area saw a 23.5% drop in new listings compared to last April, and a 14% decline compared to last month. The year over year drop can be attributed to a less active condo market as there were slightly more detached and townhouse sales this April compared to last.

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Condo in Lower Lonsdale, North Vancouver, BCFirst-time buyers contribute to strong upward momentum in residential housing markets across the country. This demographic typically accounts for 40-60% of the homes purchased in any given real estate market. However, recent changes to financing criteria that came into effect in March, didn’t really create the anticipated frenzy in activity. Most rookie home buyers remain practical and are buying within their means – the message is getting across while having a negligible effect on demand.

During the first two months of this year, there were 5000 homes sold in Vancouver, and over 45% of those homes were condos priced under $500,000, clearly indicating continued strength in the first-time home buyer market and this trend hasn’t declined in the midst of…

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kerrisdale_home Vancouver is in the midst of a strong spring in real estate as home buyers continue to enter the housing market at near record levels. There have been 4,080 sales in March, 2011 which represents a 31.7% increase compared to February, 2011 and an increase of 30.1% compared to March, 2010. The all-time sales record for March was in 2004 when 4,371 real estate transactions occurred.

So, what's driving the high-end real estate market in Vancouver? Investment class immigrants from Mainland China looking to move here in the next 2-3 years. They are required to have a Canadian investment of at least 800K and need to show a net worth of 1.6 million dollars. With good schools and safe neighbourhoods these buyers are mainly focused on Westside homes.

Multiple…

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If you're getting ready to buy or sell your home this spring, you definately don't want to miss out on our latest contest. We have four prize packages to be won! Don't forget to check out the latest North Vancouver, West Vancouver and Vancouver listings.

remaxhometeamImagine renovating that dated bathroom you've been meaning to get to... or maybe you've had your eye on a new LCD TV or dining set for your new pad? The possibilities are endless!

To enter the RE/MAX Home Team Contest fill in the entry form for your chance to win one of four incredible prizes including CASH, The Brick Gift Cards and an All Weather Windows Package.

 

Grand Prize (x1): Consists of one $10,000 RE/MAX Home Improvement Package

  • One (1) $5,000 RE/MAX Home Improvement Prize which…
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According to the Canadian Real Estate Association’s (CREA) news release yesterday, the national average price for homes sold in February 2011, increased by 8.8% compared to the previous month. However, if you take Vancouver out of the mix, it drops to 3.4%. In addition to a strong pre-spring market, there have been a record number of multi-million dollar sales in Vancouver resulting in bidding wars.

shaughnessy_houseIn Vancouver, looking at detached properties over the 3 million dollar mark, the community with the highest level of activity is Shaughnessy. In February there were 18 homes sold between $3,045,000 and $7,850,000. The total amount of real estate sold was just under 77 million; the average price being $4,277,000. Three of these homes sold in multiple offer…

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If you would like to donate $5 dollars for Japan to the Red Cross, simply use your phone to text the word 'ASIA' to 30333. For more information please visit: http://www.mobilegiving.ca or http://www.mobileegiving.org

The search for lost loved ones in Japan continues and five days later, there is no idea of the true toll of this disaster. In areas like Izumi, nobody knows how many were swept away. The number is in the thousands, perhaps 15,000.

Teams of soldiers, firemen and international rescuers are combing through the wreckage left by the 9.0 quake and subsequent waves of terror in towns and villages along the east coast. But on Wednesday, snow started falling making the job of searching even harder and our donations even more timely.

Please…

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For the past two months, the number of properties listed and those sold on the Multiple Listing Service® in Greater Vancouver crushed the 10-year average. Residential sales of detached, attached and apartment properties in February, 2011 increased by 70% over January, 2011 and 25% compared to February 2010.

Simply broken out, Vancouver home sales look like this:

Greater Vancouver Area February, 2011 February, 2010 February, 2009
Detached Units Sold 1,402 489 1,206
Attached Units Sold 983 416
1,074
Apartment Condo Units Sold 587 243 650

The benchmark price for detached properties in Vancouver increased 6% from February 2010 to $848,645; attached increased 2.3% to $507,118 and condos increased 2.2% to…

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Congrats, we did it Vancouver! But really, did you ever doubt that we are living in the best city on Earth?

Vancouver topped the Economist Intelligence Unit's list for the fifth year running with a score of 98 (out of a possible 100). The EIU ranks 140 cities around the world using 30 indicators including healthcare, stability, culture and environment, education and infrastructure. No doubt that the successful hosting of the Winter Olympics and Paralympics provided an extra boost to our overall score.

Australia marginally outranked Canada, holding the majority of top ten positions with 4; Melbourne came in at number 2, Sydney at 7, Perth at 8, and Adelaide at 9. But Canadians can feel a bit of pride too having filled 3 of those positions; Toronto…

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