Posted on
March 2, 2016
by
Allan Krueger
Metro Vancouver home buyers set a record pace in February
Last month was the highest selling February on record for the Metro Vancouver housing market.
Residential property sales in the region totalled 4,172 in February 2016, an increase of 36.3 per cent from the 3,061 sales recorded in February 2015 and an increase of 65.6 per cent compared to January 2016 when 2,519 home sales occurred.
Last month’s sales were 56.3 per cent above the 10-year sales average for the month and ranks as the highest February sales total on record.
"We're in a competitive, fast-moving market cycle that favours home sellers," Darcy McLeod, REBGV president said. “Sustained home buyer competition is keeping upward pressure on home prices across the region.”
New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,812 in February 2016. This represents an increase of 7.1 per cent compared to the 5,425 units listed in February 2015 and a 30.8 per cent increase compared to January 2016 when 4,442 properties were listed.
"We're beginning to see home listings increase as we head toward the spring market, however, additional supply is still needed to meet today's demand,” McLeod said.
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,299, a 38.7 per cent decline compared to February 2015 (11,898) and a 10 per cent increase compared to January 2016 (6,635).
The sales-to-active listings ratio for February 2016 is 57.2 per cent. This is indicative of a seller’s market.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $795,500. This represents a 22.2 per cent increase compared to February 2015.
Sales of detached properties in February 2016 reached 1,778, an increase of 37.2 per cent from the 1,296 detached sales recorded in February 2015. The benchmark price for detached properties increased 27 per cent from February 2015 to $1,305,600.
Sales of apartment properties reached 1,790 in February 2016, an increase of 43.9 per cent compared to the 1,244 sales in February 2015.The benchmark price of an apartment property increased 17.7 per cent from February 2015 to $454,600.
Attached property sales in February 2016 totalled 604, an increase of 15.9 per cent compared to the 521 sales in February 2015. The benchmark price of an attached unit increased 17 per cent from February 2015 to $569,600.
Posted on
February 10, 2016
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 3318 NAPIER ST in Vancouver.
Enjoy the stunning views of the north shore mountains from this beautiful, well kept character home! The main floor features 9 foot ceilings, parquet flooring, crown mouldings and large gas fireplace. The good sized kitchen leads out to a large balcony - ideal for BBQs and entertaining friends. Upstairs, a large bedroom and a games room which could easily become another bedroom. Downstairs could be a self contained living area for extended family. Room to garden in the backyard, with lane access to an older single carport. Newer windows, roof and hot water tank. Located on a quiet dead-end street with easy access to major arteries to downtown Vancouver, Burnaby and the North Shore. Schools K-7 Sir Matthew Begbie Elementary and Vancouver Technical Secondary. Open Houses: Sat. & Sun, 2-4p
Posted on
February 1, 2016
by
Allan Krueger
Home buyer activity remains at near record levels across the Metro Vancouver housing market.
Residential property sales in Greater Vancouver totalled 2,519 in January 2016, an increase of 31.7 per cent from the 1,913 sales recorded in January 2015 and a 10.9 per cent decline compared to December 2015 when 2,827 home sales occurred.
Last month’s sales were 46 per cent above the 10-year sales average for the month and rank as the second highest January on record.
“Fundamental economics are driving today’s market. Home buyer demand is at near record heights and home seller supply is as low as we’ve seen in many years,” Darcy McLeod, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,442 in January 2016. This represents a 6.2 per cent decline compared to the 4,737 units listed in January 2015 and a 119.8 per cent increase compared to December 2015 when 2,021 properties were listed.
“The MLS® is the most powerful real estate marketing system in the country. If you’re thinking of selling, it’s important to talk with your REALTOR® about putting your home on the MLS® system to ensure your property gets maximum exposure,” McLeod said.
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,635, a 38.6 per cent decline compared to January 2015 (10,811) and a 10.1 per cent increase compared to December 2015 (6,024).
The sales-to-active listings ratio for January 2016 is 38 per cent. This is indicative of a seller’s market.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.
Sales of detached properties in January 2016 reached 1,047, an increase of 34.1 per cent from the 781 detached sales recorded in January 2015. The benchmark price for detached properties increased 27.9 per cent from January 2015 to $1,293,700.
Sales of apartment properties reached 1,096 in January 2016, an increase of 35.5 per cent compared to the 809 sales in January 2015.The benchmark price of an apartment property increased 19.4 per cent from January 2015 to $456,600.
Attached property sales in January 2016 totalled 376, an increase of 16.4 per cent compared to the 323 sales in January 2015. The benchmark price of an attached unit increased 16.4 per cent from January 2015 to $563,700.
Posted on
January 4, 2016
by
Allan Krueger (Royal LePage Elite West)
Metro Vancouver home sales set an all-time record in 2015
In a year when the number of homes listed for sale was below historical averages, actual home sales in Metro Vancouver set a new record.
The Real Estate Board of Greater Vancouver (REBGV) reports that 2015 home sales were the highest annual total in REBGV history. This was powered early in the year by four straight months with more than 4,000 sales a month from March to June, another first for REBGV.
Sales of detached, attached and apartment properties in 2015 reached 42,326, a 27.8 per cent increase from the 33,116 sales recorded in 2014, and a 48.4 per cent increase over the 28,524 residential sales in 2013.
The total number of homes listed for sale on the MLS® in 2015 ranked fifth in the last ten years, while the MLS® Home Price Index (HPI) saw double-digit year-over-year price increases.
The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in 2015 reached 57,249. This is an increase of 2.1 per cent compared to the 56,066 properties listed in 2014 and an increase of 4.6 per cent compared to the 54,742 properties listed in 2013.
With sales-to-active-listings ratios above 25 per cent for 11 months in 2015, the Metro Vancouver market experienced seller’s market conditions for much of the year.
"Home buyers were active and motivated throughout 2015 despite the pressure on supply of homes on the market," Darcy McLeod, REBGV president said. "Housing markets typically experience quieter periods within a calendar year, but that wasn't the case in Metro Vancouver last year."
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $760,900. This represents an 18.9 per cent increase compared to December 2014. “We often hear economists say that seller’s market conditions put upward pressure on home prices,” McLeod said. “That was certainly the case in 2015, with price increases ranging from 14 to 24 per cent depending on property type.”
***
Once the tree has been put away (probably by this weekend at the latest) the local real estate market is likely to remain quite active. Home owners received their BC Assessements which have seen HUGE gains. Keep in mind those numbers are as of July 1st, 2015 - 6 months ago!
If this is the right time to buy or sell (only you can make that decision) I'd love the opportunity to work with you to achieve the best deal for you property investment. 604-New-Home is 604-639-4663.
Allan
Posted on
January 4, 2016
by
Allan Krueger
December summary:
Residential property sales in Greater Vancouver totalled 2,827 in December 2015, an increase of 33.6 per cent from the 2,116 sales recorded in December 2014 and a 19.8 per cent decline compared to November 2015 when 3,524 home sales occurred.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,021 in December 2015. This represents a 7 per cent increase compared to the 1,888 units listed in December 2014 and a 40.4 per cent decline compared to November 2015 when 3,392 properties were listed.
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,024, a 41.6 per cent decline compared to December 2014 and a 25.6 per cent decrease compared to November 2015.
Sales of detached properties in December 2015 reached 1,136, an increase of 36.4 per cent from the 833 detached sales recorded in December 2014. The benchmark price for detached properties increased 24.3 per cent from December 2014 to $1,248,600.
Sales of apartment properties reached 1,225 in December 2015, an increase of 34.3 per cent compared to the 912 sales in December 2014.The benchmark price of an apartment property increased 14 per cent from December 2014 to $436,200.
Attached property sales in December 2015 totalled 466, an increase of 25.6 per cent compared to the 371 sales in December 2014. The benchmark price of an attached unit increased 13.6 per cent from December 2014 to $543,700.
*****
Looks like 2016 will pick up right where last year ended. If this is the right time for you to buy or sell, simply make an appointment by calling 604-New-Home. That's 604-639-4663.
Allan
Posted on
December 19, 2015
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 45 5850 177B ST in Surrey.
Dogwood Gardens is a family oriented complex in the heart of Cloverdale. This UPDATED 3 bedroom end unit features a NEW dream kitchen: cabinets with soft-close drawers, granite counter, backsplash, hi-end s/s appliances & lots of storage! Other updates: electrical panel w/power surge protector, crown mouldings, laminate floors, bathroom updates, new hot water tank, newer furnace, windows & hi-end security system. Private, fenced patio with storage shed backs onto playground. Pro-active strata maintains outdoor pool, gardens and pond areas. A cat or dog is welcome too! 1 covered parking, ample street & visitor parking. Close to shops & services, sports & recreation, schools, transit & commuter routes. You'll love it here!
Posted on
December 2, 2015
by
Allan Krueger
Housing demand remains strong despite diminishing supply
Home sales reached near record levels in November even as home listings began the traditional year-end decline.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,524 on the Multiple Listing Service® (MLS®) in November 2015. This represents a 40.1 per cent increase compared to the 2,516 sales recorded in November 2014, and a 3.3 per cent decrease compared to the 3,646 sales in October 2015.
Last month’s sales were 46.2 per cent above the 10-year sales average for the month and rank as the second highest November on record for residential property sales.
“November is typically one of the quietest months of the year in our housing market, but not this year,” Darcy McLeod, REBGV president said. “The ratio of sales to home’s available for sale reached 44 per cent in November, which is the highest it’s been in our market in nine years.”
New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,392 in November. This represents a 12.5 per cent increase compared to the 3,016 new listings reported in November 2014.
The total number of properties listed for sale on the real estate board’s MLS® is 8,096, a 35 per cent decline compared to November 2014 and a 15.4 per cent decline compared to October 2015.
“Demand remains strong and there are housing options at different price points throughout the region,” McLeod said. “It’s important to work with your REALTOR® to understand your options before you embark on your home buying journey.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $752,500. This represents a 17.8 per cent increase compared to November 2014.
The sales-to-active-listings ratio in November was 43.5 per cent. Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12 per cent mark, while home prices often experience upward pressure when it reaches 20 per cent, or higher, in a particular community for a sustained period of time.
Sales of detached properties in November 2015 reached 1,335, an increase of 31.9 per cent from the 1,012 detached sales recorded in November 2014, and a 44.2 per cent increase from the 926 units sold in November 2013. The benchmark price for a detached property in Metro Vancouver increased 22.6 per cent from November 2014 to $1,226,300.
Sales of apartment properties reached 1,553 in November 2015, an increase of 47.6 per cent compared to the 1,052 sales in November 2014, and an increase of 60.3 per cent compared to the 969 sales in November 2013. The benchmark price of an apartment property increased 14 per cent from November 2014 to $435,000.
Attached property sales in November 2015 totalled 636, an increase of 40.7 per cent compared to the 452 sales in November 2014, and a 49.3 per cent increase from the 426 attached properties sold in November 2013. The benchmark price of an attached unit increased 11.3 per cent between November 2014 and 2015 to $536,600.
For more details on your neighbourhood, give me a call. 604-New-Home is 604-639-4663.
Allan
Posted on
November 21, 2015
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 45 5850 177B ST in Surrey.
Dogwood Gardens is a family oriented complex in the heart of Cloverdale. This UPDATED 3 bedroom end unit features a NEW dream kitchen: cabinets with soft-close drawers, granite counter, backsplash, hi-end s/s appliances & lots of storage! Other updates: electrical panel w/power surge protector, crown mouldings, laminate floors, bathroom updates, new hot water tank, newer furnace, windows & hi-end security system. Private, fenced patio with storage shed backs onto playground. Pro-active strata maintains outdoor pool, gardens and pond areas. A cat or dog is welcome too! 1 covered parking, ample street & visitor parking. Close to shops & services, sports & recreation, schools, transit & commuter routes. You'll love it here!
Posted on
November 1, 2015
by
Allan Krueger
Metro Vancouver home buyers push October sales above long-term averages
Home buyers remain active across Metro Vancouver despite a reduced supply of homes for sale.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in *Metro Vancouver reached 3,646 on the Multiple Listing Service® (MLS®) in October 2015. This represents a 19.3 per cent increase compared to the 3,057 sales recorded in October 2014, and a 9 per cent increase compared to the 3,345 sales in September 2015.
Last month’s sales were 36.2 per cent above the 10-year sales average for the month.
“Home sales are more than one-third above what’s typical for this time of year yet the supply of homes for sale is the lowest we’ve seen in five years,” Darcy McLeod, REBGV president said. “This activity has created favourable market conditions for anyone considering selling their home today.”
New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,126 in October. This represents an 8 per cent decline compared to the 4,487 new listings reported in October 2014.
The total number of properties listed for sale on the real estate board’s MLS® is 9,569, a 30 per cent decline compared to October 2014 and an 11.4 per cent decline compared to September 2015.
This is the lowest active listing total in Metro Vancouver since December 2010.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $736,000. This represents a 15.3 per cent increase compared to October 2014.
The sales-to-active-listings ratio in October was 38.1 per cent. Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12 per cent mark, while home prices often experience upward pressure when it reaches 20 per cent, or higher, in a particular community for a sustained period of time.
Sales of detached properties in October 2015 reached 1,437, an increase of 13.1 per cent from the 1,271 detached sales recorded in October 2014, and a 34.7 per cent increase from the 1,067 units sold in October 2013. The benchmark price for a detached property in Metro Vancouver increased 20.1 per cent from October 2014 to $1,197,600.
Sales of apartment properties reached 1,543 in October 2015, an increase of 21.7 per cent compared to the 1,268 sales in October 2014, and an increase of 40.5 per cent compared to the 1,098 sales in October 2013. The benchmark price of an apartment property increased 11.4 per cent from October 2014 to $425,800.
Attached property sales in October 2015 totalled 666, an increase of 28.6 per cent compared to the 518 sales in October 2014, and a 34.3 per cent increase from the 496 attached properties sold in October 2013. The benchmark price of an attached unit increased 9.3 per cent between October 2014 and 2015 to $526,700.
For details on what has been selling in your neighbourhood and for how much - give me a call!
Allan
604-New-Home
604-639-4663
Posted on
October 14, 2015
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 101 7330 SALISBURY AVE in Burnaby.
Botanica -featurng a townhouse-like ground level 2 bedroom & DEN, built rainscreened by Ledingham McAllister. You'll love the open concept kitchen w/breakfast bar, granite countertops, and S/S appliances. The sliding glass doors lead to the largest yard in the complex with white picket fence - great for entertaining, kids or pets. The master bedroom, with walk-in closet, is separated from the other bedroomm by the living room for privacy. Beautiful hardwood floors run the length of the home. Den is ideal to work from home or nursery. With insuite W/D, 2 secured parking, large storage locker & designated bike rack! Close to Skytrain, Highgate Mall, library, community centre, schools, parks & bike paths! Open House: Sunday, Sept 27th, 2-4pm!
Posted on
October 5, 2015
by
Allan Krueger
Metro Vancouver home buyers compete for fewer home listings
Conditions continue to favour home sellers across *Metro Vancouver’s housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,345 on the Multiple Listing Service® (MLS®) in September 2015. This represents a 14.5 per cent increase compared to the 2,922 sales recorded in September 2014, and a 0.5 per cent decrease compared to the 3,362 sales in August 2015.
Last month’s sales were 32.9 per cent above the 10-year sales average for the month.
“Residential home sales have been trending at 25 to 30 per cent above the ten-year sales average for most of the year. The number of homes listed for sale hasn’t been keeping up with the demand,” Darcy McLeod, REBGV president said. “It’s this dynamic that’s placing upward pressure on home prices, particularly in the detached home market.”
New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,846 in September. This represents a 7.9 per cent decline compared to the 5,259 new listings reported in September 2014.
The total number of properties listed for sale on the real estate board’s MLS® is 10,805, a 27 per cent decline compared to September 2014 and a 0.8 per cent decline compared to August 2015.
“At no point this year has the number of homes listed for sale exceeded 14,000, which is the first time this has occurred in the region since 2007,” McLeod said.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $722,300. This represents a 13.7 per cent increase compared to September 2014.
The sales-to-active-listings ratio in September was 31 per cent. Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12 per cent mark, while home prices often experience upward pressure when it reaches 20 per cent, or higher, in a particular community for a sustained period of time.
Sales of detached properties in September 2015 reached 1,272, an increase of 0.2 per cent from the 1,270 detached sales recorded in September 2014, and a 24.3 per cent increase from the 1,023 units sold in September 2013. The benchmark price for a detached property in Metro Vancouver increased 18.9 per cent from September 2014 to $1,179,700.
Sales of apartment properties reached 1,529 in September 2015, an increase of 28.7 per cent compared to the 1,188 sales in September 2014, and an increase of 50.2 per cent compared to the 1,018 sales in September 2013. The benchmark price of an apartment property increased nine per cent from September 2014 to $415,100.
Attached property sales in September 2015 totalled 544, an increase of 17.2 per cent compared to the 464 sales in September 2014, and a 23.1 per cent increase from the 442 attached properties sold in September 2013. The benchmark price of an attached unit increased 8.1 per cent between September 2014 and 2015 to $518,600.
Posted on
September 16, 2015
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 45 5850 177B ST in Surrey.
'Dogwood Gardens' a family oriented complex in the heart of Cloverdale. UPDATED 3 bed, 2 bath, end-unit with NEW dream kitchen: cabinets with soft-close drawers, granite countertops, backsplash, high-end s/s appliances & lots of storage! Other updates: electrical panel w/power surge protector, crown mouldings, laminate floors, bathroom updates, new hot water tank, newer furnace and windows. Private, fenced patio yard with storage shed, backs onto a playground. Pro-active strata maintains the outdoor pool, manicured gardens & pond areas. A cat or dog is welcome too! 1 covered parking, ample street & visitor parking. Close to shops & services, schools, transit & commuter routes. Walk to sports & fair ground. you'll love it here!
Posted on
September 9, 2015
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 101 7330 SALISBURY AVE in Burnaby.
Botanica -featurng a townhouse-like ground level 2 bedroom & DEN, built rainscreen by Ledingham McAllister. You'll love the open concept kitchen w/breakfast bar, granite countertops, and S/S appliances. The sliding glass doors lead to the largest yard in the complex with white picket fence - great for entertaining, kids or pets. The master bedroom, with walk-in closet, is separated from the other bedroomm by the living room for privacy. Beautiful hardwood floors run the length of the home. Den is ideal to work from home or nursery. With insuite W/D, 2 secured parking, large storage locker & designated bike rack! Close to Skytrain, Highgate Mall, library, community centre, schools, parks & bike paths! OpenHouse: Sun Sept 13, 2-4!
Posted on
September 3, 2015
by
Allan Krueger
August Sales nearly 28% higher than the 10 year average...
Metro Vancouver* home buyers spent the summer months searching for their next home. Between June and August, home sales were between 25 and 30 per cent above the ten-year sales average.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,362 on the Multiple Listing Service® (MLS®) in August 2015. This represents a 21.3 per cent increase compared to the 2,771 sales recorded in August 2014, and a decrease of 15.5 per cent compared to the 3,978 sales in July 2015.
Last month’s sales were 27.9 per cent above the 10-year sales average for the month.
“There was no summer lull in our market this year. Home buyers have been working with their REALTORS® throughout the summer months,” Darcy McLeod, REBGV president said. “They’re motivated, but they’re competing for a smaller supply of homes for sale than is typical for this time of year — that’s the dynamic driving our market right now.”
New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,281 in August. This represents an 8.7 per cent increase compared to the 3,940 new listings reported in August 2014.
The total number of properties currently listed for sale on the region’s MLS® is 10,897, a 26.2 per cent decline compared to August 2014 and a 5.3 per cent decline compared to July 2015.
“Those who have a sound buying strategy and an understanding of current price trends are having the most success in today’s market,” McLeod said.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $708,500. This represents a 12 per cent increase compared to August 2014.
The sales-to-active-listings ratio in August was 30.9 per cent. This is the sixth consecutive month that this ratio has been above 30 per cent in Metro Vancouver.
Sales of detached properties in August 2015 reached 1,290, an increase of 11.4 per cent from the 1,158 detached sales recorded in August 2014, and a 22.6 per cent increase from the 1,052 units sold in August 2013. The benchmark price for a detached property in Metro Vancouver increased 17.5 per cent from August 2014 to $1,159,600.
Sales of apartment properties reached 1,494 in August 2015, an increase of 32.7 per cent compared to the 1,126 sales in August 2014, and an increase of 46.8 per cent compared to the 1,018 sales in August 2013. The benchmark price of an apartment property increased 6.3 per cent from August 2014 to $405,400.
Attached property sales in August 2015 totalled 578, an increase of 18.7 per cent compared to the 487 sales in August 2014, and a 30.2 per cent increase from the 444 attached properties sold in August 2013. The benchmark price of an attached unit increased 7.3 per cent between August 2014 and 2015 to $511,500.
Posted on
August 28, 2015
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 201 5450 EMPIRE DR in Burnaby.
New LOWEST PRICE in North Burnaby! PRICED TO SELL! COMPLETELY UPDATED 1 bedroom in North Burnaby's Capitol Hill! Freshly painted & featuring an UPDATED kitchen with NEW cabinets, countertop, subway tile backsplash & NEW stove. Also updatedbathroom and flooring throughout. All you have to do is move in!!! Enjoy the large balcony facing the QUIET garden courtyard. Includes a storage locker & 1 underground parking space. BONUS: Building has a NEW ROOF (2014). Close to Hastings transportation to SFU, downtown or 5 min by bus to the Holdom Skytrain station. Enjoy nearby Confederation & Kensington Parks, restaurants, stores & services along Hastings & Kensington Square Mall. NOTE: rentals are at maximum. Call for your private showing.
Posted on
August 5, 2015
by
Allan Krueger
Summer heat doesn’t slow home buyer activity
Metro Vancouver home sales were more than a third above the 10-year average in July, while the number of homes listed for sale continues to trend below recent years.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver* reached 3,978 on the Multiple Listing Service® (MLS®) in July 2015. This represents a 30 per cent increase compared to the 3,061 sales recorded in July 2014, and a decrease of 9.1 per cent compared to the 4,375 sales in June 2015.
Last month’s sales were 33.5 per cent above the 10-year sales average for the month.
“Today’s activity continues to benefit sellers as home buyers compete for the homes available for sale,” Darcy McLeod, REBGV president said.
New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,112 in July. This represents a 3.8 per cent increase compared to the 4,925 new listings reported in July 2014.
The total number of properties currently listed for sale on the region’s MLS® is 11,505, a 26.3 per cent decline compared to July 2014 and a 5.5 per cent decline compared to June 2015.
"Much of today’s activity can be traced to strong consumer confidence, low interest rates, and a reduced supply of homes for sale.” McLeod said. “We have about 5,000 to 6,000 fewer homes for sale today than we've seen at this time of year over the last five to six years,"
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $700,500. This represents an 11.2 per cent increase compared to July 2014.
With the sales-to-active-listings ratio at 34.6 per cent, the region remains in seller's market territory.
“Although there aren’t as many homes for sale today compared to recent years, home buyers continue to have a range of housing options, at different price points, to choose from across Metro Vancouver,” McLeod said. “The diversity of housing options is part of what’s driving today’s demand.”
Sales of detached properties in July 2015 reached 1,559, an increase of 17.9 per cent from the 1,322 detached sales recorded in July 2014, and a 24.8 per cent increase from the 1,249 units sold in July 2013. The benchmark price for a detached property in Metro Vancouver increased 16.2 per cent from July 2014 to $1,141,800.
Sales of apartment properties reached 1,729 in July 2015, an increase of 42.7 per cent compared to the 1,212 sales in July 2014, and an increase of 42.9 per cent compared to the 1,210 sales in July 2013. The benchmark price of an apartment property increased 5.9 per cent from July 2014 to $400,900.
Attached property sales in July 2015 totalled 690, an increase of 30.9 per cent compared to the 527 sales in July 2014, and a 41.7 per cent increase from the 487 attached properties sold in July 2013. The benchmark price of an attached unit increased 7.8 per cent between July 2014 and 2015 to $511,500.
******************************
Homes are selling VERY quickly. If you are ready to buy or sell this summer, give me a call.
604-NewHome is 604-639-4663.
Allan
Posted on
July 2, 2015
by
Allan Krueger
Metro Vancouver home sales set record pace in June
Last month was the highest selling June, and the second highest overall monthly total, on record for the Real Estate Board of Greater Vancouver (REBGV).
The REBGV reports that residential property sales in Metro Vancouver* reached 4,375 on the Multiple Listing Service® (MLS®) in June 2015. This represents a 28.4 per cent increase compared to the 3,406 sales recorded in June 2014, and an increase of 7.9 per cent compared to the 4,056 sales in May 2015.
Last month’s sales were 29.1 per cent above the 10-year sales average for the month. It’s the fourth straight month with over 4,000 sales, which is a first in the REBGV’s history. The previous highest number of residential home sales was 4,434, recorded in May 2005.
“Demand in our detached home market continues to drive activity across Metro Vancouver,” Darcy McLeod, REBGV president said. “There were more detached home sales in the region last month than we’ve seen during the month of June in more than 10 years.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $694,000. This represents a 10.3 per cent increase compared to June 2014.
“Housing market activity comes in cycles; we're in an up cycle right now that looks similar to the mid-2000s,” McLeod said. “It would be easy to point to one factor that's causing this cycle, but the truth is that it's a number of different factors.
"Conditions today are being driven by low interest rates, a declining supply of detached homes, a growing population, a provincial economy that's outperforming the rest of Canada, pent-up demand from previous years and, perhaps most importantly, the fact that we live in a highly desirable region," McLeod said.
New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,803 in June. This represents an 8.7 per cent increase compared to the 5,339 new listings reported in June 2014.
"We’re seeing a steady stream of new listings entering the market, but the overall number of homes for sale is not keeping up with buyer demand," McLeod said.
The total number of properties currently listed for sale on the region’s MLS® is 12,181, a 23.9 per cent decline compared to June 2014 and a 1.3 per cent decline compared to May 2015. This is the lowest active listing total for June since 2006.
The sales-to-active-listings ratio in June was 35.9 per cent. This is the highest that this ratio has been in Metro Vancouver since June 2006. A seller’s market typically occurs when this ratio exceeds 20 per cent for a sustained period of time.
“The competition in today’s market means that buyers have less time to make decisions,” McLeod said. “Given this, it’s important to work with your REALTOR® to gain insight into the local market, to get quick access to new MLS® listings, to develop a buying strategy that meets your needs and risk appetite, and to receive other services and protections that come from having professional representation.”
Sales of detached properties in June 2015 reached 1,920, an increase of 31.3 per cent from the 1,462 detached sales recorded in June 2014, and a 74.2 per cent increase from the 1,102 units sold in June 2013. The benchmark price for a detached property in Metro Vancouver increased 14.8 per cent from June 2014 to $1,123,900.
Sales of apartment properties reached 1,774 in June 2015, an increase of 35.6 per cent compared to the 1,308 sales in June 2014, and an increase of 66.1 per cent compared to the 1,068 sales in June 2013. The benchmark price of an apartment property increased 5.3 per cent from June 2014 to $400,200.
Attached property sales in June 2015 totalled 681, an increase of 7.1 per cent compared to the 636 sales in June 2014, and a 44.3 per cent increase from the 472 attached properties sold in June 2013. The benchmark price of an attached unit increased 7.1 per cent between June 2014 and 2015 to $506,900.
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Obviously, still a strong deman for homes, in particular detached homes. This is a good time to sell if you are ready to sell. If you are happy where you are at - great! iF you are ready to sell, I'd love to help make that happen. Give me a call at 604-639-4663 to arrange an appointment this week.
Allan
Posted on
June 23, 2015
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 525 CARLSEN PL in Port Moody.
You'll love this 3 bedroom townhome in Eagle Point - a great family complex with outdoor pool and great location! Away from noisy Guildford, this home backs onto a quiet east facing green space with access from the walk-out basement orenjoy the west facing sundeck in the front. UPDATES include: bathrooms, flooring, fuly renovated basement and new garage door and opener. Roof (2006) NEARBY: Shops and services of Newport Village, Suterbrook, future Evergreen Line, PoMo Rec. centre and Eagel Ridge Hospital. Walking distance to Eagle Ridge Elementary, Scott Creek Middle and Gleneagle Secondary. ** Open House: Sunday June 7, 2-4pm **
Posted on
June 3, 2015
by
Allan Krueger
Metro Vancouver home sales surpass 4,000 for third consecutive month
It continues to be a competitive spring market for Metro Vancouver* home buyers. This competition continues to put upward pressure on home prices, particularly in the detached home market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,056 on the Multiple Listing Service® (MLS®) in May 2015. This represents a 23.4 per cent increase compared to the 3,286 sales recorded in May 2014, and a decrease of 2.9 per cent compared to the 4,179 sales in April 2015.
Last month’s sales were 16.7 per cent above the 10-year sales average for the month.
“We continue to see strong competition for homes that are priced right for today’s market,” Darcy McLeod, REBGV president said. “It’s important to remember that real estate is hyper local, particularly in a seller’s market. This means that conditions and prices vary depending on property type, neighbourhood, and other factors."
New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,641 in May. This represents a 5 per cent decrease compared to the 5,936 new listings reported in May 2014.
The total number of properties currently listed for sale on the region’s MLS® is 12,336, a 23.2 per cent decline compared to May 2014 and a 0.8 per cent decline compared to April 2015.
“While the supply of homes for sale remains below what’s typical for this time of year, our region continues to offer a diverse selection of housing options at different price points,” McLeod said. “This diversity within the housing stock is part of what’s driving today’s home sale activity.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $684,400. This represents a 9.4 per cent increase compared to May 2014.
The sales-to-active-listings ratio in May was 32.9 per cent. This is the highest that this ratio has been in Metro Vancouver since June 2007.
Sales of detached properties in May 2015 reached 1,723, an increase of 18.6 per cent from the 1,453 detached sales recorded in May 2014, and a 42.2 per cent increase from the 1,212 units sold in May 2013. The benchmark price for a detached property in Metro Vancouver increased 14.1 per cent from May 2014 to $1,104,900.
Sales of apartment properties reached 1,600 in May 2015, an increase of 24.4 per cent compared to the 1,286 sales in May 2014, and an increase of 40.8 per cent compared to the 1,136 sales in May 2013. The benchmark price of an apartment property increased 4.6 per cent from May 2014 to $396,900.
Attached property sales in May 2015 totalled 733, an increase of 34 per cent compared to the 547 sales in May 2014, and a 37.3 per cent increase from the 534 attached properties sold in May 2013. The benchmark price of an attached unit increased 6.4 per cent between May 2014 and 2015 to $501,000.
If you are ready to buy or sell, I can help make that happen.
Call for your appointment, 604-New-Home is 604-639-4663.
Allan
Posted on
May 26, 2015
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 525 CARLSEN PL in Port Moody.
You'll love this 3 bedroom townhome in Eagle Point - a great family complex with outdoor pool and great location! Away from noisy Guildford, this home backs onto a quiet east facing green space with access from the walk-out basement orenjoy the west facing sundeck in the front. UPDATES include: flooring, bathroom, fuly renovated basement and new garage door and opener. Roof (2006) NEARBY: Shops and services of Newport Village, Suterbrook, future Evergreen Line, PoCo Rec. centre. Walking distance to Eagle Ridge Elementary, Scott Creek Middle and Gleneagle Secondary. OPEN HOUSE: May 30 & 31, 2-4pm.
Categories:
604 new home
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for sale
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Fraserview NW, New Westminster Real Estate
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house price trends
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market
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Posted on
September 7, 2024
by
Allan Krueger
– Home sales registered on the MLS® in Metro Vancouver remained below their ten-year seasonal averages in August as summer holidays come to a close. Greater Vancouver REALTORS® (GVR) reports...
Posted on
September 7, 2024
by
The 604 New Home Team
The Fraser Valley residential resale market slowed again in August, as homebuyers continue to face affordability challenges. The Fraser Valley Real Estate Board recorded 1,067 sales in August, down by 13...
Posted on
August 29, 2024
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 211 3136 ST JOHNS ST in Port Moody on Aug 20, 2024. See details here
This beautiful Port Moody 2 BED + 2 BATH home has TWO patios with westerley Mountain views! Newer vinyl plank...
Posted on
August 24, 2024
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 310 1200 EASTWOOD ST in Coquitlam on Aug 19, 2024. See details here
Ready to call this incredible spacious 2 bedroom home your own. Don't miss this opportunity. The fully covered...
Posted on
August 21, 2024
by
Allan Krueger (Royal LePage Elite West)
Please visit our Open House at 211 3136 ST JOHNS ST in Port Moody. See details here
Open House on Saturday, August 24, 2024 1:00PM - 3:00PM
This beautiful Port Moody 2 BED + 2 BATH home has TWO patios with...
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