Thursday, September 2, 2010 2ND QUIETEST AUGUST IN DECADE PRESENTS OPPORTUNITY FOR FRASER VALLEY BUYERSby HudsonHomeTeam on Thu, Sep, 2, 2010 01:15 PM
Fraser Valley buyers and sellers continued to take a holiday from the real estate market in August with the region’s Multiple Listing Service (MLS®) showing a decrease in sales, new listings and overall inventory compared to July.
The Fraser Valley Real Estate Board (FVREB) processed 997 sales on its MLS® in August, a decrease of 44 per cent compared to the 1,786 sales during the same month last year and 9 per cent fewer than in July, however 10 per cent more than the 910 sales in August 2008.
Deanna Horn, FVREB President, explains, “In August, sellers in the Fraser Valley took as much of a break as buyers."
“Even with our slowdown in sales, we’re seeing inventory edge lower. Since May, we’ve seen our volume of active listings decrease by 10 per cent.”
The Fraser Valley Board posted 11 per cent fewer new listings in August compared to the previous month, the fourth month in a row of declining new inventory. At the end of August, the total active inventory was 10,287, 5 per cent less than in July, however still 14.5 per cent more than the selection available in August 2009.
Horn adds, “Our selection of homes is healthy, interest rates remain historically low and prices are moderating, which represent excellent conditions for buyers. We’re currently seeing residential prices edge down month-over-month, but remain 4.7 per cent higher than they were a year ago.”
The benchmark price for Fraser Valley detached homes in August was $510,107, down 0.1 per cent compared to July and 5.4 per cent higher compared to $483,839 in August 2009.
The benchmark price of Fraser Valley townhouses in August was $324,485, a 0.4 per cent decrease compared to July and a 4.5 per cent increase compared to August 2009 when it was $310,389. The benchmark price of apartments decreased by 1.9 per cent from July and increased 1.5 per cent year-over-year going from $236,146 in August 2009 to $239,659 in August 2010.
Download complete stats package here. Thursday, September 2, 2010 Buyer’s market conditions continue in Greater Vancouverby HudsonHomeTeam on Thu, Sep, 2, 2010 01:00 PM
Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.
From a wider perspective, last month’s residential sales represent a 40.4 per cent increase over the 1,568 residential sales in August 2008, a 34.9 per cent decline compared to August 2007’s 3,384 sales, and a 26.6 per cent decline compared to August 2006’s 2,998 sales.
New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 in August 2010 compared to August 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at 15,421, a 6.1 per cent decline from last month and a 29 per cent increase from August 2009.
“We’re seeing moderate demand, low interest rates and a healthy but slowing stream of supply in our marketplace, all variables that favour those looking to purchase a home,” Jake Moldowan, REBGV president said. “The last few months have also shown some stability when it comes to price fluctuations in the region, which is a welcome trend after reaching record highs in April.”
Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the residential benchmark price was $593,419. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.9 per cent to $576,597 in August 2010 from $539,600 in August 2009.
“Canada remains an attractive destination for foreign buyers, a fact that continues to affect activity in the Greater Vancouver housing market,” Moldowan said.
Sales of detached properties in August 2010 reached 893, a decrease of 34.7 per cent from the 1,367 detached sales recorded in August 2009 and a 66.9 per cent increase from the 535 units sold in August 2008. The benchmark price for detached properties increased 8.5 per cent from August 2009 to $795,076.
Sales of apartment properties reached 935 in August 2010, a decline of 36.1 per cent compared to the 1,464 sales in August 2009 and an increase of 26.4 per cent compared to the 740 sales in August 2008.The benchmark price of an apartment property increased 4.5 per cent from August 2009 to $385,968.
Attached property sales in August 2010 totalled 374, a decline of 38.7 per cent compared to the 610 sales in August 2009 and a 27.6 per cent increase from the 293 attached properties sold in August 2008. The benchmark price of an attached unit increased 6.6 per cent between August 2009 and 2010 to $489,511.
Download complete stats package here.
Friday, August 27, 2010 I have sold a property at 2202 788 HAMILTON ST in Vancouverby Janine Hudson on Fri, Aug, 27, 2010 04:09 AM 
We are pleased to have sold a property at 2202 788 HAMILTON ST in Vancouver. Spacious 1 bedroom & den with balcony! Fabulous SW view of False Creek, Sip lattes in the most stylish cafes & dine in the city's best restaurants in the middle of Vancouver's lively Downtown core at the edge of Yaletown. Solid concrete, expansive glass, cutting-edge architecture, the definition of sleek metropolitan design. Concierge service, secured underground parking & state-of-the-art video controlled entry system; relax knowing your home is safe & secure. Modern finishes, white cabinetry, brushed stainless appliances, laminate countertops contemporary kitchens with stainless backsplashes & ceramic glass cook-tops, soaker tubs & chic lighting fixtures. Investors this will rent for over $1,500/per month. Friday, August 27, 2010 I have sold a property at 14460 18A AV in Surreyby Janine Hudson on Fri, Aug, 27, 2010 04:09 AM
We are pleased to have sold a property at 14460 18A AV in Surrey. "The Glens" Home features formal living/dining areas, oak kitchen with centre work island and lots of cupboard space + walk in pantry, separate eating area & family room opening onto (47'x15') deck & south facing backyard. Upper level master bedroom features walk-in closet + 4pce ensuite, 3 secondary bedrooms; office and library area + games room complete this level. Many updates in this well cared for home include, new flooring kitchen & family room; newer washer, dryer, oven, microwave, dishwasher; new hot water tank, remote control gas fireplace, lighting. Perfect family home situated on 8105 sq.ft. fully fenced lot. Bayridge Elementary; Semiahmoo High School catchment. Close to amenities and transit. easy to show. Monday, August 23, 2010 Open House. OPEN HOUSE: Sunday Aug 29, 2 - 4 PMby Janine Hudson on Mon, Aug, 23, 2010 04:08 AM 
Please visit our Open House at 9894 156A ST in Surrey. OPEN HOUSE:
Sunday Aug 29, 2 - 4 PM Immaculate 4 level split on cul-de-sac, backing onto greenspace! Almost 2400 SF with 3 bedrooms, 3 newly renovated bathrooms, high quality, laminate flooring, cedar vaulted ceilings in LR & DR. An open floor plan flows into the kitchen, eating area & family room. Added bonus is the generous basement with large rec room, a den & workshop as well as a huge 5' crawlspace! Includes a 'pure air' purification system, an air conditioning unit & high efficiency furnace. The Master features your own retreat with a spa like ensuite, huge WIC & your own tranquil balcony overlooking park & with a mountain view! The elem school is a quick walk thru the park & NSSS is only 5 min. Close to T&T, rec centres/libraries. Guildford Mall and Hwy 1. |
