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April 2013 REBGV Statistics

REBGV Stats Package, April 2013

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January 2013 REBGV Statistics

REBGV Stats Package, January 2013 by

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December 2012 REBGV Stats

Prices hold firm as home buyers and sellers conclude 2012
from the sidelines

VANCOUVER, B.C. – January 3, 2013 – The Greater Vancouver housing market experienced
below average home sale totals, typical home listing activity and modest declines in home prices
in 2012.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached,
attached and apartment properties in 2012 reached 25,032, a 22.7 per cent decline from the
32,387 sales recorded in 2011, and an 18.2 per cent decrease from the 30,595 residential sales in
2010. Last year’s home sale total was 25.7 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 declined
2 per cent in 2012 to 58,379 compared to the 59,539 properties listed in 2011. Looking back
further, last year’s total represents a 0.6 per cent increase compared to the 58,009 residential
properties listed in 2010. Last year’s listing total was 6.1 per cent above the ten-year average for
annual MLS® property listings in the region.

“For much of 2012 we saw a collective hesitation on the part of buyers and sellers in the Greater
Vancouver housing market. This behavior was reflected in lower than average home sale activity
and modest fluctuations in home prices,” Eugen Klein, REBGV president said.

Residential property sales in Greater Vancouver totalled 1,142 in December 2012, a decrease of
31.1 per cent from the 1,658 sales recorded in December 2011 and a 32.3 per cent decline
compared to November 2012 when 1,686 home sales occurred.

December sales were 38.4 per cent below the 10-year December sales average of 1,855.
Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark
price for all residential properties in Greater Vancouver has declined 5.8 per cent to $590,800.
This represents a 2.3 per cent decline when compared to this time last year.

“We saw home prices come down a bit during the latter half of the year. During the same period,
we saw fewer home sales and listings,” Klein said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,380
in December 2012. This represents a 15.3 per cent decline compared to the 1,629 units listed in
December 2011 and a 50 per cent decline compared to November 2012 when 2,758 properties were listed.

Sales of detached properties in December 2012 reached 425, a decrease of 32.5 per cent from the
630 detached sales recorded in December 2011, and a 44.7 per cent decrease from the 769 units
sold in December 2010. The benchmark price for detached properties decreased 2.7 per cent
from December 2011 to $904,200. Since reaching a peak in May, the benchmark price of a
detached property has declined 6.5%.

Sales of apartment properties reached 504 in December 2012, a decline of 34.9 per cent
compared to the 774 sales in December 2011, and a decrease of 37.9 per cent compared to the
811 sales in December 2010.The benchmark price of an apartment property decreased 1.9 per
cent from December 2011 to $361,200. Since reaching a peak in May, the benchmark price of an
apartment property has declined 12.8%.

Attached property sales in December 2012 totalled 213, a decline of 16.1 per cent compared to
the 254 sales in December 2011, and a 33.2 per cent decrease from the 319 attached properties
sold in December 2010. The benchmark price of an attached unit decreased 2.6 per cent between
December 2011 and 2012 to $450,900. Since reaching a peak in April, the benchmark price of an
attached property has declined 4.4%.

“Activity continues to vary depending on area so it’s important to work with your REALTOR®
and other professionals to understand the trends in your area of interest,” Klein said.

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5 Reasons to use a Buyers Agent when looking for a property

This is a very simplified, point form version of some of the benefits a buyer receives when they use a Buyers Agent. I will be realeasing a much more in-depth, full version of my Home Buyers Guide in the near future. Stay tuned.

1. The Multiple Listing Service – The number one reason to use a Buyers Agent is the Multiple Listing Service. The majority of homes for sale are listed through the MLS, and you must be represented by a real estate agent to purchase any of these homes.

2. Efficiency – Seeing homes becomes much more focused and efficient. With a Buyers Agent, you only go to see homes that meet your criteria and you are guaranteed that the homes you are planning to view are accessible to you and available for sale.

3. Negotiation Skills – Real estate agents are trained to negotiate better than a buyer often can on his own behalf.

4. Experience – A real estate agent can draw on their years of experience and ongoing immersion in the market to tell you which homes have true value, which are over-priced, and which will have hidden costs in the long run. A Buyers Agent can also provide invaluable insight on the potential for return on investment.

5. Knowledge – A real estate agent often has valuable knowledge in regards to a specific neighbourhood:  schools, community services, recreation and plans for development. Most Buyers Agents tend to focus and specialize in a particular neighbourhood or area.

Please, keep an eye out for my full “Home Buyers Guide” coming soon.

 

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REBGV Stats November 2012

 

201211 REBGV Stats Package

Greater Vancouver residential property sale and listing
activity below 10-year averages in November

Vancouver, B.C. – December 4, 2012 – Over the past six months, the Greater Vancouver
housing market has seen a reduction in the number of homes listed for sale, a gradual moderation
in home prices and a decrease in property sales compared to historical averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of
detached, attached and apartment properties reached 1,686 on the region’s Multiple Listing
Service® (MLS®) in November, a 28.6 per cent decline compared to the 2,360 sales in
November 2011 and a 12.7 per cent decline compared to the 1,931 home sales in October 2012.

November sales were 30.3 per cent below the 10-year November sales average of 2,420.

“Home sellers appear more inclined to remove their properties from the market today rather than
lower prices to sell their properties. On the other hand, buyers appear to be expecting prices to
moderate,” Eugen Klein, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,758
in November. This represents a 14.4 per cent decline compared to November 2011 when 3,222
properties were listed for sale on the MLS® and a 36.2 per cent decline compared to the 4,323
new listings in October 2012.

New listings were 12.9 per cent below the 10-year November average of 3,168.

At 15,689, the total number of residential property listings on the MLS® increased 13 per cent
from this time last year and declined 9.7 per cent compared to October 2012. Total listings in the
region have declined by nearly 3,000 properties since reaching a peak of 18,493 in June.

The region’s sales-to-active-listings ratio was unchanged from October at 11 per cent.

“Home prices in Greater Vancouver have generally declined between three and five and a half
per cent, depending on property type, since reaching a peak six months ago,” Klein said.
“Changes in home prices vary per municipality and neighbourhood. It’s good to check local
market statistics with your REALTOR®.”

Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark
price for all residential properties in Greater Vancouver has declined 4.5 per cent to $596,900.
This represents a 1.7 per cent decline when we compared to this time last year.

Sales of detached properties in Greater Vancouver reached 629 in November, a decrease of 31.3
per cent from the 916 detached sales recorded in November 2011, and a 40.1 per cent decrease
from the 1,050 units sold in November 2010. Since reaching a peak in May, the benchmark price
for a detached property in Greater Vancouver has declined 5.5 per cent to $914,500.

Sales of apartment properties reached 750 in November 2012, a 25 per cent decrease compared
to the 1,000 sales in November 2011, and a decrease of 28.7 per cent compared to the 1,052 sales
in November 2010. Since reaching a peak in May, the benchmark price for an apartment
property in Greater Vancouver has declined 3.9 per cent to $364,900.

Attached property sales in November 2012 totalled 307, a 30.9 per cent decrease compared to the
444 sales in November 2011, and a 24.6 per cent decrease from the 407 attached properties sold
in November 2010. Since reaching a peak in April, the benchmark price for an attached property
in Greater Vancouver has declined 3.6 per cent to $454,300.

Feature Facts:
• Of the 15,689 homes currently for sale on the MLS® in Greater Vancouver, 49.6 per cent
are listed for $600,000 or less. Of those, 1,321 are detached properties, 5,039 are
condominiums and 1,419 are townhomes.

• Of the 1,686 homes that sold in Greater Vancouver in November, 273 (16%) sold for $1
million or more.

-30-

The real estate industry is a key economic driver in British Columbia. In 2011, 32,390 homes changed ownership in the Board’s area, generating $1.36 billion in spin-off activity and 9,069 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $25 billion in 2011. The Real Estate Board of Greater Vancouver is an association representing more than 11,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

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Open House at the renowned Grace building on Sunday, December 2, 2012 2-4PM. Come check it out!

Come through this Sunday between 2:00PM and 4:00PM and see this amazing property. 202-499 Drake Street.

 

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October 2012 Housing Market Update Real Estate Board of Greater Vancouver

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August 2012 REBGV Statistics Package

Home sellers continue to outnumber buyers in Greater Vancouver’s summer housing market

Home sale activity remained below long-term averages in the Greater Vancouver housing market in August.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,649 in August, a 30.7 per cent decline compared to the 2,378 sales in August 2011 and a 21.4 per cent decline compared to the 2,098 sales in July 2012.

August sales were the second lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711. Continue reading

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July 2012 REBGV Statistics Package

Greater Vancouver housing market hits summer lull

Residential property sales in Greater Vancouver remained at a 10-year low in July, while the number of properties being listed for sale continued to edge down and prices remained relatively stable.

The Real Estate Board of Greater Vancouver (REBGV) reports that there were 2,098 residential property sales of detached, attached and apartment properties in July. That’s an 18.4 per cent decline compared to the 2,571 sales in July 2011 and an 11.2 per cent decline compared to the previous month’s 2,362 sales. Continue reading

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Greater Vancouver housing market favoured buyers in June

Greater Vancouver housing market favoured buyers in June

VANCOUVER, B.C. – July 4, 2012 – 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.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,617 in June. This represents a 3 per cent decline compared to June 2011 when 5,793 properties were listed for sale on the MLS® and an 18.9 per cent decline compared to the 6,927 new listings reported in May 2012.

At 18,493, the total number of residential property listings on the MLS® increased 22 per cent from this time last year and increased 3.7 per cent compared to May 2012.

“Today, our sales-to-active-listings ratio sits at 13 per cent, which puts us in the lower end of a balanced market. This ratio has been declining in our market since March when it was 19 per cent,” Klein said.

The MLSLink® Housing Price Index (HPI) composite benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 1.7% and declined 0.7% compared to last month.

Sales of detached properties on the MLS® in June 2012 reached 921, a decrease of 37.4 per cent from the 1,471 detached sales recorded in June 2011, and a 19.1 per cent decrease from the 1,139 units sold in June 2010. The benchmark price for detached properties increased 3.3 per cent from June 2011 to $961,600.

Sales of apartment properties reached 1,026 in June 2012, a 19 per cent decrease compared to the 1,266 sales in June 2011, and a decrease of 18.4 per cent compared to the 1,258 sales in June 2010. The benchmark price of an apartment property increased 0.3 per cent from June 2011 to $376,200.

Attached property sales in June 2012 totalled 415, a 21 per cent decrease compared to the 525 sales in June 2011, and a 27.8 per cent decrease from the 575 attached properties sold in June 2010. The benchmark price of an attached unit decreased 0.1 per cent between June 2011 and 2012 to $468,400.

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Spring activity remains balanced in the Greater Vancouver housing market

Spring activity remains balanced in the Greater Vancouver housing market

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. Continue reading

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Greater Vancouver housing market maintains a steady spring pace

April 2012 REBGV Stats Package Mike Stewart

Greater Vancouver housing market maintains a steady spring pace

Home sale and listing activity has maintained a consistent pace on the Multiple Listing Service® (MLS®) in Greater Vancouver in recent months, which has helped create balanced conditions for the region’s housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,799 on the Multiple Listing Service® (MLS®) in April 2012. This represents a 13.2 per cent decline compared to the 3,225 sales recorded in April 2011 and a decline of 2.6 per cent compared to the 2,874 sales in March 2012.

April sales were the lowest total for the month in the region since Continue reading

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Greater Vancouver at lower end of balanced housing market

Greater Vancouver at lower end of balanced housing market

VANCOUVER, B.C. – November 2, 2011 – With a sales-to-active property listings ratio of 15 per cent, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months.

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®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years. Continue reading

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November 2011 REBGV Stats Package

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, attachedand apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This repre-sents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the2,317 sales recorded in October 2011. Continue reading

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8 Advantages of Buying a Condominium in Downtown Vancouver!

8 Advantages of Buying a Condominium in Downtown Vancouver!

8. Variation

A major benefit of purchasing a condo in downtown Vancouver is variation. Residential buildings fill the downtown core and, as a result, building options are almost limitless. You will be able to choose from a wide range of prices, locations, structures, sizes, developers, and architectural features.

7. Building Amenities

Consider how building amenities can benefit your lifestyle! Would you like to swim laps in the morning? Want to work out without a gym membership? Want to sit in the steam room after a long day? These are all possibilities with condo ownership.

6. Enhanced Security

If you travel for work or spend a lot of time away from home, Vancouver condo living might help put you at ease when it comes to protecting your personal property. Many condo buildings in downtown Vancouver are extremely secure, requiring a Key Fob (a building access device) to gain access to the building, elevators, amenities, and parking and common areas. In addition, many buildings will have a 24 hour concierge or security staff member onsite. Continue reading

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September 2011 REBGV Stats Package

Home listings continue to rise in the Greater Vancouver housing market

Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market.

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 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010. Those sales also rank as the third lowest total for September over the last 10 years.
Continue reading

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10 Tips for Making Your Vancouver Condo Feel Larger

10 Tips for Making Your Vancouver Condo Feel Larger

Living in a condo in Vancouver can offer so many benefits, but one concern for many new condo owners is size. If you are moving into a condo from a single-family house or a townhouse, living in a smaller space might take some getting used to. There are, however, several effective ways to make your place feel and appear larger.

10. Make boundaries disappear

Try to visually erase boundaries in each room (corners, baseboards, moldings, etc.) by using a monochromatic colour scheme. Consider painting walls and ceilings similar shades and choose a hardwood or laminate floor that’s close in value.

9. Leave windows bare
Continue reading

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TIP #98. Use Effective Research Tools to Search for Properties in Vancouver

Use Effective Research Tools to Search for Properties in Vancouver

Once you’ve hired a REALTOR, ask them about the excellent tools and resources they provide. Not only can your REALTOR explain how the buying process works, they will also be able to offer you tips and tricks to make the process as efficient as possible.

Tools can save you time and money!

Web-based tools, like Private Client Services (PCS), will significantly limit the amount of time you spend in the early stages of your research. PCS, for instance, allows you to set and manage a specific search criterion and receive email updates when suitable listings hit the market! It’s also updated 32-76 hours before other real estate search engines, like Realtor.ca or MLS.ca, so you will usually have a head start on other buyers!
Continue reading

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Top 10 Reasons to Use a Buyer’s Agent in Vancouver

How can a Buyer’s Agent help YOU?

There are several reasons to use a Buyer’s Agent, but the most important reason is to have exclusive representation for the purchase of a property.

When buyers decide to use the Seller’s Agent for representation, they must realize that they are not being represented. To be clear: the Seller’s Agent represents the best interest of the seller, not the buyer.

When considering purchasing a property, Buyers should always use a Real Estate Agent to ensure that they are represented and protected. It’s also FREE! The Buyer’s Agent is paid from the commission charged to the Seller by the Seller’s Agent.

The Top 10 Reasons YOU Should Use a Buyer’s Agent

10. Education and Experience

Chances are that you may not know everything you need to know about real estate in Vancouver, so why not hire a professional that does! In the long run, by finding the right Buyer’s Agent (with the right expertise), you will save time, money, and frustration.

9. Neighbourhood and Product Knowledge

An important first step is to understand exactly what you want in a home. A Buyer’s Agent will help you narrow down a specific criteria to ensure your needs are met based on your budget, space requirements, and areas of interest.
Continue reading

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August 2011 REBGV Stats Package

Greater Vancouver home sales trend toward buyers’ market over summer

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. Continue reading

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