Home buyers remain active across Metro Vancouver


8.25

Home buyers remain active across Metro Vancouver

Home buyers continue to compete for homes listed for sale across the Metro Vancouver housing market.

Residential property sales in the region totaled 4,400 in June 2016, an increase of 0.6 per cent from the 4,375 sales recorded in June 2015 and a decrease of 7.7 per cent compared to May 2016 when 4,769 homes sold.

Last month’s sales were 28.1 per cent above the 10-year sales average for the month and rank as the highest selling June on record.

“While we’re starting to see more properties coming onto the market in recent months, the imbalance between supply and demand continues to influence market conditions,” Dan Morrison REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver totaled 5,875 in June 2016. This represents an increase of 1.2 per cent compared to the 5,803 units listed in June 2015 and a 6.6 per cent decrease compared to May 2016 when 6,289 properties were listed.

“Since March, we’ve seen more homes listed for sale in our market than in any other four-month period this decade,” Morrison said. 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,812, a 35.9 per cent decline compared to June 2015 (12,181) and a 1.1 per cent increase compared to May 2016 (7,726).

The sales-to-active listings ratio for June 2016 is 56.3 per cent. While clearly indicative of a seller’s market, this is the lowest this measure has been since February.

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 $917,800. This represents a 32.1 per cent increase compared to June 2015.

Sales of detached properties in June 2016 reached 1,562, a decrease of 18.6 per cent from the 1,920 detached sales recorded in June 2015. The benchmark price for detached properties increased 38.7 per cent from June 2015 to $1,561,500.

Sales of apartment properties reached 2,108 in June 2016, an increase of 18.8 per cent compared to the 1,774 sales in June 2015.The benchmark price of an apartment property increased 25.3 per cent from June 2015 to $501,100.

Attached property sales in June 2016 totaled 730, an increase of 7.2 per cent compared to the 681 sales in June 2015. The benchmark price of an attached unit increased 28.1 per cent from June 2015 to $656,900.

Download complete stats package.

copyright© real estate board of greater vancouver. all rights reserved.

 

Categories: Uncategorized

13F-199 Drake just sold $1 M


6

WATER VIEW Corner unit! One of the landmark buildings as the result of Vancouver Expo 86. The building locates right by the stunning downtown David Lam Park. It is an intricate mix of active & passive recreation opportunities. The 2 BR & 2 Bath unit is in immaculate condition with the views of False Creek and yaletown, updated kitchen and wood flooring. School catchment incl famous Elsie Roy Elementary is across the street. King George Secondary, Henry Hudson elementary, General Gordon Elementary and Kitsilano Secondary. Don’t miss this awesome opportunity

Categories: Uncategorized

13F 199 DRAKE STREET $998k Just Listed


WATER VIEW Corner unit! One of the landmark buildings as the result of Vancouver Expo 86. The building locates right by the stunning downtown David Lam Park. It is an intricate mix of active & passive recreation opportunities. The 2 BR & 2 Bath unit is in immaculate condition with the views of False Creek and yaletown, updated kitchen and wood flooring. School catchment incl famous Elsie Roy Elementary is across the street. King George Secondary, Henry Hudson elementary, General Gordon Elementary and Kitsilano Secondary. Don’t miss this awesome opportunity! First showing May 13 10:30am to noon. Open on May 14 & 15 2 to 4pm.

Categories: Uncategorized

3577 W 42ND AVENUE $2,988,000 Just listed


262086683

33 x 131 lot on beautiful tree lined W42nd. First time on the market. Very well kept custom built Vancouver Special with practical layout. Ground floor can easily be converted into a 3 BR suite, spacious den could be the 3rd BR. Potential laneway house can be easily accommodated. 3 mins drive or 16 mins walk to Dunbar Community Centre and Memorial West Park. School catchment: Kerrisdale Elementary, Point Grey Secondary, Sir Winston Churchill, etc. Walking distance to all kinds of shopping and restaurants on W 41st. Quiet and yet convenient! Don’t miss this awesome home in awesome location!

Categories: Uncategorized

1307 821 CAMBIE STREET JUST SOLD $585K


1307-821 Cambie

 

Rarely available ’07’ 1 bedroom & den condo in the luxury concrete tower, Raffles on Robson. Extremely well managed building, high end appliances/fixtures, gas range. Sleek ‘New York’ style tiled bathrooms with separate shower/tub & rain shower head. Gorgeous city & corridor water views of False Creek from the generous sized West facing balcony. Located within the entertainment/tech & library district, trendy restaurants & eateries, cafes, shopping, BC Place, IGA & transit. Fitness Centre, hot tub, concierge & bike room. Perfect for investors as Raffles attracts top quality tenants. One parking stall included.

Categories: Uncategorized

503 2108 W 38TH AVENUE JUST SOLD $800K


262080491-1

The Wiltshire-very popular 1,138 SqFt SW corner unit with 2 bedrooms, 2 bathrooms & 1 balcony 7″ X 7″, immaculate 1 owner unit. Very spacious, 2 parking stalls and 1 storage. Adult-Oriented building and all owner occupied. Very easy to show. Excellent value in Kerrisdale. Very quiet overlooking garden. Live in caretaker manager meticulously kept. Walking distance to Kerrisdale Community Centre, Public Library, banks, shops and transit. Age restrictions: 19+,Pets Not Allowed, Rentals Not Allowed.

Categories: Uncategorized

Just sold 1202 1020 HARWOOD STREET $1,400,000.00


262077391

 

An impeccable mix of luxury and custom design makes this residence an impressive listing to show. This unit features an open concept layout ideal for maximum enjoyment of space. The elegant kitchen has been updated with marble backsplash and features an additional LARGE pantry with extra storage and floor to ceiling wine fridge and a secondary fridge! Dining room is privately tucked away and boasts water views. The large wrap around covered patio is ideally positioned to enjoy the stunning S.W. water VIEWS of English Bay, and sunsets. Custom seating on the patio adds more room for outdoor living/entertaining completing the alfresco lifestyle. Amenities incl: outdoor lap pool, gym, party room, and private garden. Building has been fully rainscreened and updated. 2 parking & 1locker.

Categories: Uncategorized