Vancouver Real Estate Blog

Real Estate Board of Greater Vancouver - October 2009 stats

Results from REBGV show a strong housing demand resulting in higher home prices. REBGV reports that their has been an 171.6% increase in sales since October 2008. The number of properties listed on MLS for October 2009 fell by 37% from October 2008.

For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

Real Estate Board of Greater Vancouver"s September 2009 stats

For the month of September 2009, 3,559 homes sold. That's a 124.5% increase from September 2008. 12,596 homes are reported listed on MLS in Greater Vancouver. That's a 36% decline from last year at this time. What all this means to everyone is less inventory with the higher buyer demand which will result in higher prices.

The bench mark price for homes has increased 13% from $484,211 to $547,092. Detached homes sales are up 160% from last year. Apartments sales are up 94.9% and Attached property sales are up 135.3% compared to last year.

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Vancouver Real Estate August 2009 Stats

Between what we were experiencing last August 2008 compared to today, we are certainly in a different market. Who would of predicted that sales for August 2009 would rise 119.5% compared to last August.

A) Total Active Listings in Greater Vancouver currently sits at 11,937 down 33% from last year. From looking at this Stat alone, one could predict 1) house prices will rise, 2) Stability in the market, 3) Multiple offers in the market place.

B) MLSlink Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 11.4% since the beginning of the year. To put this in perspective, we are down only 1.1% compared to August stats from last year. In other words we have regained almost all our previous losses.

C) Detached Property Sales up 155.5% from August 2008

D) Attached Property Sales up 108.2% from August 2008

E) Apartment Property Sales up 97.8% from August 2008

Download the complete stats package by clicking here.

Vancouver Real Estate shows record Sales in july 09

Record sales in july 2009 totalled 4,114. The best volume of sales ever recorded within REBGV.(Real Estate Board of Greater Vancouver). Out paced record sales held back in july of 2003 of 4,023. Since the beginning of 2009 the Housing Price Index's bench mark price for homes has risen by 9.2%, to $528,821 from $484,211. However home prices compared to July 2008 levels are down 5%.

To read more follow this link.

Download the complete stats package by clicking here.

Kitsilano Beach in Vancouver

Last year, I blogged about how Vancouver's Kitsilano Beach was ranked as one of the top 10 city beaches in the world in Travel & Leisure Magazine. I like to talk about Kitsilano a lot because I live in Kits, a block from the beach and, having travelled around the world a lot when I was younger, I realize how amazing Vancouver is, especially Kits. 

If you're new to Vancouver, or planning a trip here, make sure you visit the Kits Beach! 

Vancouver Home Sales Jump 76% in June

According to the Real Estate Board of Greater Vancouver, home sales in Vancouver increased 75.6% in June 2009, compared to June 2008. That's great news for the Vancouver real estate market and reflects the type of increased interest we've seen from buyers in the marketplace.

The specific statistics are:

Detached homes:

Vancouver West - up 85%
Burnaby - up 109%
Coquitlam - up 122%

Richmond - up 77%
Maple Ridge - up 54%
New West - up 104%
North Vancouver - up 96%
East Vancouver - up 71%

West Vancouver - up 117%

Condos/Stratas:

Vancouver West - up 87%
Burnaby - up 60%

Coquitlam - up 93%

New West - up 57%
North Vancouver - up 71%
Richmond - up 54%
East Vancouver - up 58%
West Vancouver - up 155%

BC Sales Climb in May

The British Columbia Real Estate Association reported that MLS listed residential home sales increased 3% last month compared to May 2008. It was the first year-over-year increase since December 2007. Last month was also the highest number of residential sales since April 2008 and it represented the 4th month in  a row of increased sales.  

Vancouver Housing Sales Increase 53% over last month

Vancouver home sales in March 2009 increased 53% over February 2009 according to the Real Estate Board of Greater Vancouver. However, compared with 2008, the market still reflects a significant decline overall. 

Proposed Changes to Strata Property Act May Improve Owners' Disputes

On March 23, 2009, the provincial government introduced Bill 12 - the Strata Property Amendment Act, 2009, which if brought into force may significantly change the way arbitrations and other strata-related disputes are resolved. 

The amendments require that strata corporations establish a process for the voluntary resolution of disputes among owners, tenants and the strata corporation (or any combination of them). The voluntary dispute resolution process must include detailed dispute resolution procedures.

The amendments also allow the government to establish regulations governing what are called Section 177 disputes. Those are disputes that involve:

• the interpretation of the Act, the regulations, the bylaws or rules;
• the common property or common assets; 
• the use or enjoyment of a strata lot; 
• money owing under the Act, the bylaws or the rules; 
• an action or threatened action by, or decision of, the strata corporation; or 
• the exercise of voting rights by a person who holds 50% or more of the votes at an annual or special general meeting.  

The regulations that may be established by the government will likely involve setting out when a mediation or arbitration must occur; who must participate in a mediation or arbitration; the qualifications of a mediator and arbitrator; and the selection of mediators and arbitrators and their rights and powers. There are also likely to be caps on the fees charged by mediators and arbitrators for strata disputes and requirements for confidentiality of strata arbitrations. 

These are welcome changes to the Strata Property Act and if brought in force, will do much to improve the resolution of disputes among strata owners by making them more efficiently and less expensively resolved.

Kitsilano Beach - One of the 10 Best City Beaches in the World!

Travel & Leisure has ranked Kitsilano Beach as one of the ten best beaches in the world. I live a block from the beach and I agree entirely with their ranking. Kitsilano Beach is a few minutes from the downtown core and is a fantastic place for swimming, relaxing, tanning or hanging out with friends. 

Other beaches that ranked in the top ten were Ipanema Beach in Rio de Janeiro; Venice Beach in Los Angeles; Waikiki Beach in Hawaii; Clifton Beaches in Cape Town; Repulse bay Beach in Hong Kong; Miami Beach in Miami; Isla Verde Beach in San Juan; Barceloneta Beach in Barcelona; and Bondi Beach in Sydney.