RSS

I just finished uploading this House for sale, 11491 Plover Drive, Richmond

1.jpg

WESTWIND!!! Live in one of Richmond's most sought after neighborhoods. Terrific 5561 sq ft LUC lot in a quiet location. Features 3 bdrms + Den (or 4th bdrm), 2.5 baths, family room & bonus rec rm. Bright & sunny SE facing living room -perfect for entertaining! Huge NW facing deck off the kitchen, eating area & dining room - great for family BBQ's! Newer fridge, stove, D/W & washing machine. Updated bathrooms upstairs. Nice garden & big storage shed in the backyard. A wonderful place to call home & raise your family! Roof 2007, windows 2009. Buy to live in now and/or build later. Easy stroll to Steveston for shopping & restaurants. Close to transit to get downtown. Schools: Westwind & Steveston-London. Act fast, won't last!

Read

July 3, 2015

Metro Vancouver home sales set record pace in June

Last month was the highest selling June, and the second highest overall monthly total, on record for the Real Estate Board of Greater Vancouver (REBGV).

The REBGV reports that residential property sales in Metro Vancouver* reached 4,375 on the Multiple Listing Service® (MLS®) in June 2015. This represents a 28.4 per cent increase compared to the 3,406 sales recorded in June 2014, and an increase of 7.9 per cent compared to the 4,056 sales in May 2015.

Last month’s sales were 29.1 per cent above the 10-year sales average for the month. It’s the fourth straight month with over 4,000 sales, which is a first in the REBGV’s history. The previous highest number of residential home sales was 4,434, recorded in May 2005.

“Demand in our detached home market continues to drive activity across Metro Vancouver,” Darcy McLeod, REBGV president said. “There were more detached home sales in the region last month than we’ve seen during the month of June in more than 10 years.” 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $694,000. This represents a 10.3 per cent increase compared to June 2014.

“Housing market activity comes in cycles; we're in an up cycle right now that looks similar to the mid-2000s,” McLeod said. “It would be easy to point to one factor that's causing this cycle, but the truth is that it's a number of different factors.

"Conditions today are being driven by low interest rates, a declining supply of detached homes, a growing population, a provincial economy that's outperforming the rest of Canada, pent-up demand from previous years and, perhaps most importantly, the fact that we live in a highly desirable region," McLeod said. 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,803 in June. This represents an 8.7 per cent increase compared to the 5,339 new listings reported in June 2014.

"We’re seeing a steady stream of new listings entering the market, but the overall number of homes for sale is not keeping up with buyer demand," McLeod said.

The total number of properties currently listed for sale on the region’s MLS® is 12,181, a 23.9 per cent decline compared to June 2014 and a 1.3 per cent decline compared to May 2015. This is the lowest active listing total for June since 2006. 

The sales-to-active-listings ratio in June was 35.9 per cent. This is the highest that this ratio has been in Metro Vancouver since June 2006. A seller’s market typically occurs when this ratio exceeds 20 per cent for a sustained period of time. 

“The competition in today’s market means that buyers have less time to make decisions,” McLeod said. “Given this, it’s important to work with your REALTOR® to gain insight into the local market, to get quick access to new MLS® listings, to develop a buying strategy that meets your needs and risk appetite, and to receive other services and protections that come from having professional representation.”

Sales of detached properties in June 2015 reached 1,920, an increase of 31.3 per cent from the 1,462 detached sales recorded in June 2014, and a 74.2 per cent increase from the 1,102 units sold in June 2013. The benchmark price for a detached property in Metro Vancouver increased 14.8 per cent from June 2014 to $1,123,900.

Sales of apartment properties reached 1,774 in June 2015, an increase of 35.6 per cent compared to the 1,308 sales in June 2014, and an increase of 66.1 per cent compared to the 1,068 sales in June 2013. The benchmark price of an apartment property increased 5.3 per cent from June 2014 to $400,200.

Attached property sales in June 2015 totalled 681, an increase of 7.1 per cent compared to the 636 sales in June 2014, and a 44.3 per cent increase from the 472 attached properties sold in June 2013. The benchmark price of an attached unit increased 7.1 per cent between June 2014 and 2015 to $506,900.

*Editor’s Note:  Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

Download the complete stats package by clicking here. 

Read
Categories:   Boyd Park, Richmond Real Estate | Brighouse South, Richmond Real Estate | Brighouse, Richmond Real Estate | Broadmoor, Richmond Real Estate | Cambie, Vancouver West Real Estate | Central Pt Coquitlam, Port Coquitlam Real Estate | Coal Harbour, Vancouver West Real Estate | Delta Manor, Ladner Real Estate | Downtown NW, New Westminster Real Estate | Downtown VW, Vancouver West Real Estate | East Cambie, Richmond Real Estate | East Delta, Ladner Real Estate | Fleetwood Tynehead, Surrey Real Estate | Glenwood PQ, Port Coquitlam Real Estate | Grandview Surrey, South Surrey White Rock Real Estate | Grandview Woodland, Vancouver East Real Estate | Granville, Richmond Real Estate | Hamilton RI, Richmond Real Estate | Hawthorne, Ladner Real Estate | Highgate, Burnaby South Real Estate | Ironwood, Richmond Real Estate | Kitsilano, Vancouver West Real Estate | Lackner, Richmond Real Estate | Ladner Elementary, Ladner Real Estate | Lynn Valley, North Vancouver Real Estate | McLennan North, Richmond Real Estate | McNair, Richmond Real Estate | Metrotown, Burnaby South Real Estate | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW, Vancouver West Real Estate | Neilsen Grove, Ladner Real Estate | Quilchena RI, Richmond Real Estate | Riverdale RI, Richmond Real Estate | Riverwood, Port Coquitlam Real Estate | Roche Point, North Vancouver Real Estate | Saunders, Richmond Real Estate | South Arm, Richmond Real Estate | South Marine, Vancouver East Real Estate | Southwest Maple Ridge, Maple Ridge Real Estate | Steveston North, Richmond Real Estate | Steveston South, Richmond Real Estate | Steveston Village, Richmond Real Estate | Terra Nova, Richmond Real Estate | University VW, Vancouver West Real Estate | West Cambie, Richmond Real Estate | West End VW, Vancouver West Real Estate | Westwind, Richmond Real Estate | Woodwards, Richmond Real Estate
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.