Eugene Knoedler online real estate tools
 

Greater Vancouver housing market favoured buyers in June

The number of residential property sales hit a 10-year low in Greater Vancouver for June, while prices remained relatively stable.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 2,362 in June, a 27.6 per cent decline compared to the 3,262 sales in June 2011 and a 17.2 per cent decline compared to the 2,853 sales in May 2012.

June sales were the lowest total for the month in the region since 2000 and 32.2 per cent below the 10-year June sales average of 3,484.

“Overall conditions have trended in favour of buyers in our marketplace in recent months,” Eugen Klein, REBGV president said. “This means buyers are facing less competition and have more selection to choose from compared to earlier in the year.”

click below for complete stats package

_media/Documents/REBGV Stats/Real Estate Stats June 2012.pdf

Post CommentComments: 0Read Full Story
 Spring activity remains balanced in the Greater Vancouver housing market

VANCOUVER, B.C. – June 4, 2012

– The number of properties listed for sale continued to increase in the Greater

Vancouver housing market in May. The number of sales decreased year over year, but remained relatively constant compared to recent months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,853 on the Multiple Listing Service® (MLS®) in May 2012. This represents a 15.5 per cent decline compared to the 3,377 sales recorded in May 2011.

May sales were the lowest total for the month in the region since 2001 and 21.1 per cent below the 10-year May sales average of 3,617. However, sales have been constant throughout the spring months, with 2,874 sales in March and 2,799 sales in April.

“Home sellers have outpaced buyers in recent months, however, there continues to be an overall balance between supply and demand in our marketplace,” Eugen Klein, REBGV president said.    

 
 
            

Post CommentComments: 0Read Full Story
The new MLS House Price Index  statistics package from MLS provides more detailed insight into the pricing trends in localized sub-categories (eg. Richmond-Steveston South or Vancouver-Kitsilano) within a specific community. This is a helpful tool for understanding what's happening when listing or buying properties in specific areas ie  in addition to the trend in a general area ie Richmond, Vancouver. 
click on the link below for full stats package 
 
 
Post CommentComments: 0Read Full Story

March 2, 2012 - Greater Vancouver housing market trends near long-term averages as spring market approaches.

Closer alignment between home buyer and seller activity helped bring greater balance to the Greater Vancouver housing market in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,545 on the MLS® system in February 2012. This represents a 61.4 per cent increase compared to the 1,577 sales recorded in January 2012, a decline of 17.8 per cent compared to the 3,097 sales in February 2011 and a 2.9 per cent increase from the 2,473 home sales in February 2010.

February sales in Greater Vancouver were the third lowest February total in the region since 2002, though only 151 sales below the 10-year average.

“With a sales-to-active-listings ratio of over 18 per cent, we see fairly balanced conditions in our marketplace as we move into the traditionally busier spring season,” Rosario Setticasi, REBGV president said.  click link below for full stats package.

  

_media/Documents/REBGV Stats/REBGV Stats Feb 2012.pdf

  

 

Post CommentComments: 0Read Full Story

Government announces new HST/PST housing transitional rules

The government today announced the HST/PST transitional rules on new homes.

As the province transitions back to the PST, which will replace the HST effective April 1, 2013, measures to ease the HST burden on new home buyers include:

  • The BC New Housing Rebate threshold will increase to $850,000 from $525,000, so that more than 90% of newly built homes will now be eligible for a provincial HST rebate effective April 1, 2012.
  • The maximum rebate will increase to $42,500 from $26,250 effective April 1, 2012.
  • Buyers of new secondary vacation or recreational homes outside the Greater Vancouver and Capital Regional Districts priced up to $850,000 will now be eligible to claim a provincial grant of up to $42,500 effective April 1, 2012.
  • For newly built homes where construction begins before April 1, 2013, but ownership and possession occur after, purchasers will not pay the 7% provincial portion of the HST. Instead, purchasers will pay a temporary, transitional provincial tax of 2% on the full house price. 

HST/PST transition rules will help ensure that whenever purchasers buy a new home they will all pay a consistent and equitable amount of tax, whether the home is built:

  • entirely under the HST;
  • entirely under the PST; or
  • partly under HST and partly under the PST.

The temporary housing transition measures will be in place until March 31, 2015. The tax only applies to homes where construction begins before the transition date and ownership and possession occur after.

REBGV successfully advocated for the following:

  • An increase in the threshold value of homes to be covered by the rebate;
  • An increase in the rebate amount;
  • An announcement of the transition rules for new homes as early as possible. 

The BC Real Estate Association plans to provide Boards with a list of FAQs and draft contract language that REALTORS® can use in their listing agreements and contracts of purchase of sales contracts. We will post these on www.realtorlink.caand in REALTORLink News.

For more information, visit the BC Ministry of Finance at: www.pstinbc.ca

To read the Ministry of Finance announcement: www.newsroom.gov.bc.ca/2012/02/transition-measures-support-new-home-buyers-builders.html

If you have questions, please contact Harriet Permut, Manager, Government Relations, at hpermut@rebgv.org
Post CommentComments: 0Read Full Story

Balanced real estate market prevailed through much of 2011

january 4,2012. The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 2.7 per cent in 2011 to 59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent increase compared to the 52,869 residential properties listed in 2009. Last year’s listing total was 11.1 per cent above the ten-year average for annual Multiple Listing Service® (MLS®) property listings in the region.

“It was a relatively balanced year for the real estate market in Greater Vancouver with listing totals slightly above historical norms and sale numbers slightly below,” Rosario Setticasi, REBGV president said.  

click below to continue reading complete stats package (7 pages) 
Post CommentComments: 0Read Full Story
 Historically normal activity keeps the Greater Vancouver Housing Market in a balanced state. 

VANCOUVER, B.C. – December 2, 2011

– The Greater Vancouver housing market saw relatively typical home sale and listing activity in November.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This represents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the 2,317 sales recorded in October 2011. 
 
Post CommentComments: 0Read Full Story

Vancouver, BC - November 17, 2011
Back in 2007/08, the real estate market in BC was one big splotch of green. From northern cabin to southern mainland condo, home prices steadily climbed,realtors propagated like mushrooms after a summer cloud burst, developers feverishly planted condos in ever-more remote grounds, pundits kept assuring their investors that across its entire breadth and depth, Eden by the Pacific is forever ... so buy now! And by the way, have I got an investment-grade condo deal for you!

... and then the whole thing fell apart.
 

For the next four, five years, property values in most all of British Columbia withered and dried. Most, but not all places. The urbanized cores -- the aforementioned watering holes of Greater Vancouver, Vancouver Island and Kelowna -- largely held their own. 

It's early days but Landcor Data numbers suggest the 'outer' regions could be bottoming out. The big question: Does this signal the waning of the drought, the first trembles up from market trough -- and the signal for the canny and the quick to move in, buy wisely, prudently and longer-term?  

In uncertain times, nothing can be said with certainty but it seems, maybe, the rains are finally coming.   
click here to download full report
 

 

Post CommentComments: 0Read Full Story

August marked the third consecutive month that home sale activity in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region has exceeded the 10-year norm every month since the beginning of the year. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,378 in August. This total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third lowest total for August in the last 10 years. 

“MLS® statistics continue to indicate that we’re in a balanced market,” Rosario Setticasi, REBGV president said. “However, with a sales-to-actives listings ratio of 15 per cent, Greater Vancouver is in the lower end of a balanced market and has been trending toward a buyers’ market over the past three months.” 

for complete stats info click on link below 

_media/Documents/REBGV Stats/REBGV Sept stats.pdf

 

Post CommentComments: 0Read Full Story

Greater Vancouver housing market holds steady and favours sellers in May. June 2,2011.

Home sales remained at typical springtime levels on the Multiple Listing Service® (MLS®) in Greater Vancouver in May.
 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,377 in May 2011, a 7 per cent increase compared to the 3,156 sales in May 2010 and a 4.7 per cent increase compared to the 3,225 sales in April 2011.

Looking back further, last month’s residential sales are 8.1 per cent below the ten-year average for sales in May. The three highest selling Mays ever recorded occurred in 2005, 2006 and 2007 when sales exceeded the 4,000 mark each year.

“With a sales to active listings ratio of 23 per cent, conditions continue to favour sellers in the Greater Vancouver housing market, but activity has eased away from the near record-setting pace we saw in March,” Rosario Setticasi, REBGV president said. Read complete stats click here  _media/Documents/REBGV Stats/REBGV housing stats June 2011.pdf

 

Post CommentComments: 0Read Full Story

VANCOUVER, B.C. – May 3, 2011 – Greater Vancouver saw a typical, solid month of residential home sales on the Multiple Listing Service® (MLS®) in April, in contrast to the near record pace witnessed in the two preceding months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011.

Looking back further, last month’s residential sales represent an 8.8 per cent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a 4.8 per cent decline compared to the 3,387 sales in April 2007. “While it continues to be a seller’s market in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,” Rosario Setticasi, REBGV president said. “The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS®, as there were more detached and townhome sales this April compared to last year.”    for complete stats package click here _media/Documents/REBGV Stats/REBGV_StatsPackage_April2011.pdf

Post CommentComments: 0Read Full Story
Categories:  | Beach Grove | Beach Grove, Tsawwassen Real Estate | Beach Grove, Tsawwassen Real Estate, vancouver | Beach Grove, Tsawwassen Real Estate,real estate news | Boundary Beach | Boundary Beach, Tsawwassen Real Estate | Brighouse | Brighouse, Richmond Real Estate | Cambie, Vancouver West Real Estate | Campbell Valley | Campbell Valley, Langley Real Estate | Cliff Drive | Cliff Drive, Tsawwassen Real Estate | Cloverdale BC, Cloverdale Real Estate | Crescent Bch Ocean Pk., South Surrey White Rock Real Estate | Delta Manor, Ladner Real Estate | Delta Real Estate | English Bluff | English Bluff, Tsawwassen Real Estate | Fairview VW | Fairview VW, Vancouver West Real Estate | Fleetwood Tynehead, Surrey Real Estate | Fraser Valley Real Estate sales statistics | Hawthorne | Hawthorne, Ladner Real Estate | HST on Housing | Kitsilano, Vancouver West Real Estate | ladner | Ladner Elementary, Ladner Real Estate | Ladner Re | Ladner Real Estate | Ladner Rural, Ladner Real Estate | Langley Real Estate | Lower Lonsdale, North Vancouver Real Estate | Market Trends | McNair, Richmond Real Estate | Neilsen Grove, Ladner Real Estate | Nordel, N. Delta Real Estate | North Surrey Real Estate | Panorama Ridge | Panorama Ridge, Surrey Real Estate | Pebble Hill | Pebble Hill, Tsawwassen Real Estate | Port Guichon, Ladner Real Estate | properties | Property for Sale | Queensborough, New Westminster Real Estate | Quilchena RI, Richmond Real Estate | rea | real | Real Estate | real estate new | Real Estate News | real estate statistics | richmo | Richmond Real Estate | Sold | South Delta Real Estate | Statistics | Surrey Real Estate | Tsawwassen Central | Tsawwassen Central, Tsawwassen Real Estate | Tsawwassen East, Tsawwassen Real Estate | Tsawwassen Real Estate | vancouver real estate | Vancouver West Real Estate | West Cambie | West Cambie, Richmond Real Estate | Westwind | Westwind, Richmond Real Estate | Whalley | Whalley, North Surrey Real Estate | Whistler | Whistler Real Estate | Whistler, Whistler Real Estate