Metro Vancouver housing market characterized by modest home sale and price increases in 2013.
The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.
“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the record-breaking years we experienced over the last decade,” Sandra Wyant, REBGV president said.
Last year’s home sale total ranks as the third lowest annual total for the region in the last ten years, according to the region’s Multiple Listing Service® (MLS®).
The number of residential properties listed for sale on the MLS® in Metro Vancouver declined 6.2 per cent in 2013 to 54,742 compared to the 58,379 properties listed in 2012. Looking back further, last year’s total represents an 8.1 per cent decline compared to the 59,539 residential properties listed for sale in 2011. Last year’s listing count is on par with the 10 year average.
Steady trends continue in the Greater Vancouver housing market
Consistent home sale and listing activity has allowed balanced market conditions to prevail in the Greater Vancouver housing market for most of 2013.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,321 on the Multiple Listing Service® (MLS®) in November 2013. This represents a 37.7 per cent increase compared to the 1,686 sales recorded in November 2012, and a 12.8 per cent decline compared to the 2,661 sales in October 2013.
Last month’s sales were 1.2 per cent below the 10-year sales average for the month, while new listings were 1.5 per cent above the 10-year November average.
“We’ve seen steady and consistent trends the Greater Vancouver housing market for much of this year,” Sandra Wyant, REBGV president said. “This year’s activity has resulted in gradual and modest increases in home prices of approximately one per cent over the last 12 months in the region.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,245 in November. This represents a 17.7 per cent increase compared to the 2,758 new listings reported in November 2012 and a 24.8 per cent decline compared to the 4,315 new listings in October of this year
Balanced conditions provide a stable backdrop for today’s home buyers and sellers
The Greater Vancouver housing market continues to maintain a relative balance between the number of homes for sale and the number of people looking to purchase a home in the region today.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,642 on the Multiple Listing Service® (MLS®) in June 2013. This represents an 11.9 per cent increase compared to the 2,362 sales recorded in June 2012, and an 8.3 per cent decline compared to the 2,882 sales in May 2013.
Last month’s sales were 22.2 per cent below the 10-year sales average for the month, while new listings for the month were 11.5 percent below the 10-year average.
“As the term suggests, a balanced market means that many of the key housing market indicators, such as price, are stable and conditions therefore don’t tilt in favour of buyers or sellers,” Sandra Wyant, REBGV president said. “If you plan to enter the market today, identify your needs, consult your REALTOR® and work to build a ‘win-win’ scenario with the people on the other side of the sale.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,874 in June. This represents a 13.2 per cent decline compared to the 5,617 new listings reported in June 2012 and a 13.8 per cent decline from the 5,656 new listings in May of this year.
The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 17,289, a 6 per cent decrease compared to June 2012 and a 0.4 per cent increase compared to May 2013.
The Grove at Victoria Hill – 2 Bed, 2 Bath, 951 SF West Facing unit overlooking the inner courtyard with Large Balcony. Very Quiet and surrounded by Greenspace this unit features a very spacious & open Living/Dining/Kitchen Area. Gourmet Kitchen with stainless steel appliances, lots of cabinets & island. Ideal Floorplan with two bedrooms located on opposite sides of the living room, Master Bedroom has walk-through closet leading into a Full Bathroom. Great Amenities at the Boiler House: Gym, Theatre, Study, Party Rm/Lounge, Outdoor Basketball Court. Central Locations, steps to Queens Park, 15min walk to Skytrain or 10 min Bus. Won’t last! Must See!
Summerlin at “Silver Springs”. This suite has The Works! TOP FLOOR, 942ft², 2 Bedroom, 2 Bathroom with a HUGE Covered Balcony (Over 240ft²!), 2 Parking Stalls & 1 Storage Locker! This suite is great for entertaining, it features an open floorplan, large living/dining area, gourmet kitchen with Maple Shaker Cabinets & Stainless Steel appliances (including a Gas Range), Spacious Master Suite with Walk-In Closet & large ensuite bathroom with separate his & her sinks! Resort like Amenities at Cascade Club with outdoor pool, hot tub, gym & billiards lounge. 2 dogs/cats allowed, rentals allowed. Short walk to Coquitlam Centre, Douglas College, Larfarge Lake, Hiking, Shops & Future Evergreen Line Skytrain Station.
The Grove, Victoria Hill – Gorgeous 2 bed, 2 bath West facing suite with large balcony overlooking the inner courtyard. Very quiet & private location, great floor plan, open concept living/dining/kitchen area. 2 bedrooms on opposite sides of the living room, 2nd bdrm has walk in closet, master bedroom has walk-through closet leading into a full bathroom. Gourmet kitchen with plenty of cabinet space, stainless steel appliances & granite counters (granite in bathrooms as well). Excellent amenities at the Boiler House; gym, theatre, study area, party room/lounge, basketball court. Great location, surrounded by parks & greenspace. 15 min walk to skytrain or 10 min bus. Suite shows well, priced to sell, must see.
Whittaker at Victoria Hill – Stunning 875sq. 2 bedroom, 2 bath corner unit. Built in 2010 & under warranty. This suite features a HUGE private patio, laminate flooring, gourmet kitchen with granite counters, stainless steel appliances and lots of cabinets. Located just steps to Queens Park and a 10min walk or quick bike ride to the Columbia Skytrain Station. Impressive amenities at the Boiler House which features a huge gym, lounge area, reading area, media room, meeting room & basketball court. 1 parking stall included. Rentals allowed & pets allowed with restrictions. Centrally located in New Westminster’s Victoria Hill master planned community. Close to shops, schools & the Quay
Copperstone at the centre of the Lower Mainland. This immaculate 2bedroom 2bathroom NorthWest 1034 square-foot corner suite includes: laminate flooring, crown mouldings, stainless steel appliances, upgraded paint, lights and fixtures, in-suite laundry, security system, and more. Sit and enjoy the afternoon sun on the private covered 9’x11′ balcony. Spacious living areas and open floor plan. This unit faces NorthWest onto the quiet treed courtyard with a glimpse of the mountains. Steps from the trendy Sapperton area that boasts a Thrifty’s (open 24hrs), Starbucks, shops, bistros, boutique gift shop, spa, and bakeries… Close to freeway access and only a 3 minute walk to the skytrain. Built in 2008, 2-5-10 warranty, 2 parking, 1 locker, Pets & Rentals Welcome.
THE GROVE at VICTORIA HILL – West Facing TOP FLOOR 2 Bed, 2 Bath, 933 SF Suite, with Vaulted Ceilings, open floor plan and balcony. This suite is in immaculate condition. It features laminate flooring in the living/dining room, spacious kitchen with lots of cabinets (granite coutners & stainless steel appliances as well), in-suite laundry, bedrooms on opposite sides of the living room (and both have plenty of closet space), & bathrooms have granite counters as well. This suite includes 2 Parking Stalls & 1 Storage Locker. Excellent Amenities at the BOILER HOUSE including: Gym, Theatre, Study Area, Lounge, Basketball Court. Steps to transit Close to Skytrain, Queens Park & Shops. Rentals allowed & Pets Allowed with Restrictions
Victoria Hill – TOP FLOOR 2 Bed, 2 Bath, 903 SF Suite with VAULTED CEILINGS & large Balcony facing North-West. This unit is in immaculate condition, it features many upgrades including: Stone Fireplace & New Mantle, New Window Screens, New Blinds, Ceiling Fans, New Hot Water Tank, New Lighting in Kitchen & Dining Room & ‘California Closet’ Shelving in the Master. Great floorplan, open concept Kitchen/Living/Dining Area. Kitchen Features plenty of cabinets, granite counters & Stainless Steel appliances.
Building Amenities includes: gym, Games Rm, Reading Area/Lounge & Guest Suite. Excellent Location,Surrounded by GreenSpace, close to transit, shopping & Queen’s Park. 1 Parking & 1 Locker Included. LOW STRATA FEE! Must See!
GLENBROOKE TOWNHOME -End Unit, Over 1600SF, 3 Bed (Up), 3 Bath with 2 Car Tandem Garage PRICED UNDER TAX ASSESSMENT, Partial River & Mountain View. Fronts on to Francis Way (Facing West), Enjoy the 3 Balconies & 1 Large Ground Level Patio, Open Concept Main Floor, Large Tandem Garage with plenty of Storage Space, Built in 2007 by Onni Group. Home feature Granite in Kitchen & Bathrooms, Engineered Hardwood Flooring on the Main, Living Room with Electric Fireplace, Spacious Kitchen with lots of cabinets & Stainless Steel appliances. Large Master Suite with Walk-In Closet, Ensuite & Private balcony. Excellent Amenities at the Boiler House Including: Gym, Theatre, Study Area, Lounge/Party Area, Basketball Court. Must See!
Immaculate Home on quiet Reigate Road in the highly sought after Burnaby Lake area. Truly a one of a kind, this home boasts 4880 SF on 3 levels & has stunning PANORAMIC VIEWS of Burnaby Lake, Burnaby Mountain & North Shore Mountains. Enjoy watching breathtaking Sunsets from your wrap around upper-level balcony or lower level balcony (off the rear) or enjoy the morning sun from South-East facing front balcony. This home has 7 Bedrooms (4 Upstairs, 1 Main, 2 Downstairs), 4 Bathrooms, 2 Kitchens, Large Rec Room, Ground Level Walk-Out Basement, Private Backyard (well landscaped), 3 Fireplaces & great floorplan. Extensively renovated with new carpet, new light fixtures, new paint, new linoleum flooring, and new vinyl deck covering (all premium quality). Must See!!