North Vancouver Real Estate - real estate prices

Vancouver Real Estate Listings Decrease for the First Time in 2011

This past month the sales to active listings ratio in Greater Vancouver shifted slightly to 15% which places us from the higher end of a buyers’ market into the lower end of a balanced market. This is because home sales remain steady while listing inventory takes a break for the first time this year. There were 4,374 new listings in October which is in line with the 10 year average for new listings. Currenlty, there are 15,377 properties listed for sale in Greater Vancouver, 4% lower than last month.

While the number of sales increased slightly last month, detached prices decreased by 1.6% in October and condos decreased by 3%. Attached properties increased marginally by .5% compared to the previous month. Price stability combined with a healthy…

2946 Views, 1 Comments

Options for Vancouver Home Buyers Grow With September Listing Count

Month over month, the consistent rise in our listing count has been outpaced by home sales, keeping a lid on home prices. However, this has pushed the Greater Vancouver housing market into the upper end of a buyers’ market. The number of properties listed for sale on the MLS® rose to 16,085 in September 2011. This represents a 4.6% increase over last month and a 4.4% increase compared to September 2010.

What does this mean for you? Honestly, it really depends on where you live but generally speaking, sellers and their REALTORS® have to work harder for an offer. Home staging is becoming popular for sellers to get top dollar and potentially drive multiple offers. They also need to be more accurate in their pricing because they actually have…

21624 Views, 2 Comments

Vancouver Real Estate Falling Into A Buyers Market?

Sales and new listings were down for August however, recent market activity indicates that we're not done yet! We had a great spell of extraordinary weather which had Vancouverites out and about, trying to enjoy the remainder of what turned out to be a very short summer. Now that fall routines have set in and everyone is back at work and school, the race is on. Buyers and sellers alike are making a last push before the rain (really) begins and the holidays start knocking.

For example in North Vancouver, new listings are coming on at a steady pace and we're seeing some sellers reduce their pricing in an effort to revive older listings. Buyers are taking advantage of the increased inventory and properly priced, move-in ready homes are selling quickly.…

25952 Views, 0 Comments

Vancouver Real Estate Versus Chicken Little

Sales and new listings are down for July, but they should be compared to June. On the west coast, summer has finally arrived and buyers and sellers alike are headed out to enjoy it! Contrary to some reports, the real estate sky in Vancouver it not falling. No one seems to consider an important factor which happens to also be the most difficult to predict, supply and demand.

Home sellers continued to outpace buyers in July which has helped further shift the Greater Vancouver market toward balanced conditions. At 16.9%, the July sales-to-active listings ratio indicates a healthy balance between housing supply and demand.

Generally analysts say that a market enters balanced conditions when the ratio reaches the 15-20% range. Seller's market conditions…

51691 Views, 0 Comments

Vancouver Real Estate: Trending Toward 'Sellers to Balanced' Market

Vancouver and the Fraser Valley are expected to trend toward a 'sellers to balanced' market over the next 18 months while the rest of the province will experience a 'buyers to balanced' market. Vancouver home prices are still on the rise despite a slowdown in the first time buyer market. Single family home sales remain the strong, keeping supply in check.

Already, there are a handful of Vancouver real estate market predictions for 2012. The BC Real estate Association anticipates the provincial average price to increase by a total of 13% for 2011 and a decrease by 2.5% in 2012. Considering the continued demand and limited supply in our beautiful city, things continue to look optimistic. We will explore TD and RBC's housing forecasts in our next post. We…

6414 Views, 0 Comments