Thursday, December 3, 2009 Fraser Valley Real Estate Statistics Nov '09by HudsonHomeTeam on Thu, Dec, 3, 2009 04:29 PM BUSIER THAN NORMAL NOVEMBER FOR FRASER VALLEY REAL ESTATE MARKET
December 2, 2009
(Surrey, BC) - The Fraser Valley Real Estate Board (FVREB) processed 1,522 sales on its Multiple Listing Service (MLS®) in November, an increase of 200 per cent compared to the 507 sales during the same month last year and only 10.7 per cent less than in October.
“Interest rates continue to be a strong motivator resulting in unseasonably high real estate sales for this time of year,” said Paul Penner, President of the Board.
“We typically see both sales and listing activity slow in November as people start to get ready for the holidays and we did experience that on the listing side, but not in sales. This was the second busiest November Fraser Valley REALTORS® have seen in ten years.”
The number of active Fraser Valley listings in November decreased 5.4 per cent from October, dropping to 8,334 listings. This represents a 29.4 per cent decrease from last year. The MLS® saw 2,093 new listings come on stream in November, 26 per cent fewer than were received in October, however, 12 per cent more than were received in November last year.
The benchmark price of a detached home in October was $497,697, an increase of 6.5 per cent compared to November 2008, when it was $467,497.
The benchmark price of townhouses increased 2.3 per cent from $308,647 in November 2008 to $315,890 last month. The benchmark price of apartments also increased year-over-year by 1.9 per cent, going from $231,498 in November of last year to $235,842 in November 2009.
“Although prices are edging up, buyers seeking value and lifestyle continue to find both in the Fraser Valley,” said Penner. “In November, 70 per cent of all homes and 46 per cent of single detached homes sold for under $500,000, indicative of a diverse housing stock across our six communities.”
Although Fraser Valley’s MLS® received 7 per cent more new listings in October than it did in September, the strength in October’s sales reduced overall inventory. In October 2009, Fraser Valley property hunters had 8,807 listings to choose from, compared to 11,715 in October last year – a decrease of 25 per cent.
Penner says the average days on market in the Fraser Valley remains competitive: 56 days on average for single detached homes; 46 days on average for townhomes; and, 58 days on average for apartments.
Thursday, December 3, 2009 Metro Vancouver Real Estate Statistics Nov '09by HudsonHomeTeam on Thu, Dec, 3, 2009 03:53 PM
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November Stats
Strong demand carries into late fall
Home values continued to edge upward in November as demand in the Greater Vancouver housing market remains well above seasonal norms.
Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 12.4 per cent to $557,384 from $495,704 in November 2008. This price, however, remains down 1.9 per cent from the most recent high point in the market in May 2008 when the residential benchmark price sat at $568,411.
“This unseasonably high level of demand can be attributed in large part to low interest rates, but it also speaks to the diverse range of housing options available in Greater Vancouver,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “Prospective homebuyers today have more options at different price levels than ever before."
The REBGV reports that residential property sales in November were the third highest volume ever recorded in Greater Vancouver for that month. Sales in the region totalled 3,083 in November 2009, an increase of 252.7 per cent compared to November 2008 when 874 sales were recorded and a 16.8 per cent decrease compared to the 3,704 sales recorded in October 2009.
“We are experiencing a brisker than normal market for this time of year, although we have begun to see a reduction in the number of homes listed for sale, which is normal as we head into the holiday season,” Russell said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,653 in November 2009. This represents a 21.3 per cent increase compared to November 2008 when 3,012 new units were listed, and a 26.6 per cent decline compared to October 2009 when 4,977 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.
At 11,039, the total number of property listings on the MLS® decreased 8.6 per cent in November compared to last month and declined 39 per cent from this time last year.
In contrast to this year, note that November 2008 was the lowest selling November in Greater Vancouver in 27 years.
Sales of detached properties increased 261.5 per cent to 1,164 from the 322 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 13.6 per cent from November 2008 to $757,209.
Sales of apartment properties in November 2009 increased 240.5 per cent to 1,396 compared to 410 sales in November 2008. The benchmark price of an apartment property increased 11.6 per cent from November 2008 to $381,945.
Attached property sales in November 2009 are up 268.3 per cent to 523, compared with the 142 sales in November 2008. The benchmark price of an attached unit increased 10.2 per cent between Novembers 2008 and 2009 to $469,686.
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Wednesday, December 2, 2009 2010 Olympic Road Closuresby HudsonHomeTeam on Wed, Dec, 2, 2009 11:00 AM Information brought to you by HudsonHomeTeam &:
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TRANSPORTATION
The Big Question: How to Get Around During the Games?
Downtown Vancouver is open for business during the 2010 Winter Games. Of course, we will all be doing business differently – maybe changing hours of work, taking an extended lunch to enjoy the LiveCity sites, leaving our vehicle at home and taking public transit to work, and taking time from work to enjoy a sporting event or Cultural Olympiad performance. Adapting to temporary changes, in particular, around transportation, will be required by everyone.
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FACT vs. FICTION
All downtown streets are closed to traffic.
FICTION: Yes, some major streets will be closed to vehicles, such as Granville, Beatty, Robson and Mainland to accommodate moving pedestrians around, but the vast majority of streets are accessible for all modes of transportation. Using transit, walking, biking or carpooling will help reduce traffic congestion. See the Olympic Road Network map.
Road closures will begin before the Games start.
FACT: Games operations, training and other Olympic traffic will begin throughout the city as early as January 2010, particularly around venues. The majority of transit, spectator, workforce, athlete and official movements will occur between February 4 and March 1, 2010. Street parking on select streets will be removed and Olympic Lanes implemented on February 4, 2010 and the Dunsmuir and Georgia viaducts will be closed to vehicular traffic starting February 5, 2010. See the timing of the rollout.
Athletes come to the Games to compete, not commute.
FACT: That’s why we all need to work together to reduce single occupancy vehicle use by at least 30%. Consider purchasing a six-week 2010 Games Transit Pass for your staff or working flex hours. Make your travel plans now using TravelSmart 2010.
The Stadium Skytrain station will be closed.
FICTION: The Stadium-Chinatown Skytrain station is a key recommended stop for spectators going to Canada Hockey Place (GM Place). Check out the new Vancouver 2010 Spectator Guide now online for all the details regarding how to access official venues, what you can bring in and when to arrive.
I can’t make or receive deliveries after 12pm.
FICTION: Goods movement and deliveries will be a key to the success of the Games. Changes to City by-laws allow for deliveries in downtown 24/7. To avoid congestion, deliveries are recommended from midnight to 6am or alternatively to noon at the latest. However, if you need to make or receive a delivery after noon, it can happen, but be prepared for delays. Read more about goods movement.
Fill out the goods movement survey.
I need a ‘pass’ to drive into downtown.
FICTION: Downtown is open for business – no pass required – just lots of patience and excitement. Tip: Invest in a good pair of walking shoes or boots. Walking will be the best – and fastest – way to get around downtown. Watch for a new wayfinding system throughout downtown to guide locals and visitors to transit stations, venues and attractions. It will be one of the lasting legacies of the Games.
Public transit capacity will be increased during the Games.
FACT: Skytrain will run an extra hour until 2:15am daily; additional night buses will be added and some will run 24/7; a third Seabus will be added along with 180 new buses, 48 new Skytrain cars, extended service for the West Coast Express, 30 additional HandyDART vehicles, and, of course, the new Canada Line is already up and running. Cool souvenir six-week TransLink passes go on sale in December to encourage more riders before, during and after the Games. To make your transit plans, visit: TravelSmart 2010.
Added transit capacity will mean more room on buses and Skytrains.
FICTION: While there will definitely be more capacity added to the system during the Games, buses and Skytrains are already crowded. The solution? Locals are encouraged to use public transit in off-peak hours to ensure the best travel experience. Avoid travelling between 7-9am and 2-7pm. Consider changing your company's office hours: come in early and leave early, or come in late and stay late to check out all the fun stuff to do downtown like LiveCity Downtown.
There won't be any parking downtown.
FICTION: On-street parking on streets such as Howe and Burrard that have designated 'Olympic Lanes' will be removed beginning Feb. 4. The current bus lane will become the 'Olympic lane' for Olympic vehicles and TransLink only. All other lanes on those streets remain open to regular traffic. There are three times as many off-street or parkade parking stalls available compared to on-street parking and they will remain accessible during the Games. So, drive if you must, but please carpool to help reduce single occupany vehicles on the road by 30%.
Sign up today to the DVBIA 2010 Winter Games Business Readiness email list to receive weekly tips before and daily Hotsheets during the Games. | |
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