Tuesday, May 3, 2011
Burnaby and Surrounding Areas Experience a Typical Spring Market in April
May 03 2011 : Last month saw typical sales, relative to the near record setting pace in March, bringing much more balance to the market, although still somewhat of a seller’s market.
Year over year, the benchmark price for all properties increased by 5%, but market strength does vary considerably depending on what area you are looking resulting in widely varying prices in different communities. CLICK HERE to view Burnaby and surrounding area House Price Index charts for various property types across communities.
To download the complete statistics package from the Real Estate Board, CLICK HERE.
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Stability Remains in Greater Vancouver Housing Market
November 02, 2010 - Sales have remained very steady over the last few months, and inventory has remained relatively strong. This, with our continued near record low interest rates, combine to indicate that the buyers' market is continuing.
To read the complete statistics package release from the Real Estate Board of Greater Vancouver, CLICK HERE.
HOUSING MARKET REMAINS STABLE
VANCOUVER, B.C. – October 4, 2010 – It appears that conditions seen through the summer are continuing into the fall, with only a marginal increase in sales through September, over August. It appears that the market will continue to be stable through the fall, with a good selection for buyers, and listings staying on the market longer than we had been seing until the end of this spring.
To read from the Real Estate Board's publication, CLICK HERE.
ACTIVITY STEADY TO START THE SUMMER SEASON
VANCOUVER, B.C. – July 5, 2010 – The Greater Vancouver housing market experienced steady activity to begin the summer season. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second highest selling June on record.
“Activity in June marked a healthy balance between the near record setting pace of June 2009 and the considerably slower activity witnessed in June 2008, a period of recession as we all know,” Jake Moldowan, REBGV president said.
Compared to June 2008, last month’s sales represent a 22.6 per cent increase over the 2,425 sales recorded that month, but are 30 per cent less than the 4,244 sales.
For graphs, and to read more, CLICK HERE.
May market offers buyers greater selection
VANCOUVER, B.C. – June 4, 2010 – The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.
“Prospective home buyers in today’s market have a broad selection to choose from in every property type. REALTORS® are telling us they’re working with buyers who are not feeling as rushed to make a decision as they did late last year and earlier in the year.” Jake Moldowan, REBGV president said.
Bank of Canada raises benchmark rateBank of Canada Raises Interest Rates For First Time Since July 2007
June 01, 2010 As we have expected for some time, banks have now increased their benchmark rate to 05%. This is a very small increase, and we are still near record low levels; this is the first rate increase since July of 2007, and will likely be the first of a series of rates increases over time. Canada has been experiencing the strongest rate of growth in 10 years.Home buyer and seller activity increases in busy spring market
VANCOUVER, B.C. – May 4, 2010 –The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace.
“We’re in the midst of another strong spring season thanks to high levels of activity on both the buyer and seller side of our market,” Jake Moldowan, REBGV president said. “The number of homes coming on the market has increased significantly in recent months, which is providing a healthy level of choice for those looking to buy during this busy period.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 7,648 in April 2010, a 64.5 per cent increase compared to April 2009 when 4,649 new units were listed, and a 9.2 per cent increase compared to March 2010 when 7,004 properties were added to the Multiple Listing Service® (MLS®).
At 15,901, the total number of property listings on the MLS® increased 17 per cent in April compared to last month, and is up 11 per cent compared to this time last year.
Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 18.9 per cent to $593,419 from $499,021 in April 2009.
Vancouver Photo of the Month, by Jordy Brisbin (and photoshop)
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