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May 4, 2015

Home buyer demand outpacing supply across the Metro Vancouver housing market

Strong home buyer demand coupled with below average home listing activity has created seller's market conditions within the Metro Vancouver* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,179 on the Multiple Listing Service® (MLS®) in April 2015. This represents a 37 per cent increase compared to the 3,050 sales recorded in April 2014, and a 2.9 per cent increase compared to the 4,060 sales in March 2015.

Last month’s sales were 29.3 per cent above the 10-year sales average for the month.

“The supply of homes for sale today in the region is not meeting the demand we're seeing from home buyers. This is putting upward pressure on prices, particularly in the detached home market," Darcy McLeod, REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,897 in April. This represents a 0.9 per cent decrease compared to the 5,950 new listings reported in April 2014.

The total number of properties currently listed for sale on the region’s MLS® is 12,436, a 19.8 per cent decline compared to April 2014 and an increase of 0.5 per cent compared to March 2015.

“It’s a competitive and fast-moving market today that is tilted in favour of home sellers. To be competitive, it’s important to connect with a local REALTOR® who can help you develop a strategy to meet your home buying or selling needs,” McLeod said. 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $673,000. This represents an 8.5 per cent increase compared to April 2014.

The sales-to-active-listings ratio in April was 33.6 per cent. This is the highest that this ratio has been in Metro Vancouver since June 2007.

Sales of detached properties in April 2015 reached 1,815, an increase of 35.9 per cent from the 1,336 detached sales recorded in April 2014, and a 70.6 per cent increase from the 1,064 units sold in April 2013. The benchmark price for a detached property in Metro Vancouver increased 12.5 per cent from April 2014 to $1,078,900.

Sales of apartment properties reached 1,579 in April 2015, an increase of 34.7 per cent compared to the 1,172 sales in April 2014, and an increase of 50.1 per cent compared to the 1,052 sales in April 2013. The benchmark price of an apartment property increased 4.4 per cent from April 2014 to $394,200.

Attached property sales in April 2015 totalled 785, an increase of 44.8 per cent compared to the 542 sales in April 2014, and a 53.6 per cent increase from the 511 attached properties sold in April 2013. The benchmark price of an attached unit increased 5.7 per cent between April 2014 and 2015 to $493,300.

*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.

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Come by and check out my open house this weekend! Saturday May 2nd and Sunday May 3rd, 2:00 PM to 4:00 PM I will be hosting an Open House at 8171 Steveston Hwy in THE MAPLES in the South Arm neighborhood, Richmond. This is an opportunity to visit this excellent Townhouse for sale in beautiful South Arm.

Please come with any questions you may have. In the meantime you can take a virtual tour of this South Arm Townhouse for sale.

As always please do not hesitate to give me a call at 604.644.1044 if I can answer any questions before the open house, or if you would like to book a private showing.

Alisa Sakamoto
REALTOR® RE/MAX WESTCOAST

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I just finished uploading this wonderful Townhouse for sale, 4 8171 Steveston Hwy, Richmond, BC


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RARELY AVAILABLE! Best location at THE MAPLES - end unit furthest from Steveston Hwy (super quiet)! Quality built 2 storey duplex style home by popular European builder Reiner Siperko. Special features include: radiant heat, crown mouldings, high ceilings, laminate floors, maple kitchen cabinets, granite counters, gas range & stainless steel appliances. Bright open floor plan w/ cozy gas fireplace in the living room - perfect for entertaining! 3 spacious bedrooms up. Enormous master with deluxe ensuite & large walk in closet. Double side by side garage PLUS a 3rd parking in front of your home. Private fenced yard with beautiful garden. Close to South Arm Community Centre, shopping malls, schools, parks, transit & convenient access to HWY 91 & 99. Call me to book your private viewing! Open house SAT/SUN May 2/3 2-pm.

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I just finished uploading this House for sale, 3206 RICHMOND Street, Richmond, British Columbia

Look no further than this beautiful, bright, and spacious family home nestled in the heart of Steveston Village that can exceed all your expectations. The open concept floor plan is complimented by massive windows and skylights which let light pour into the home & further the feeling of spaciousness. Warm tones throughout the living area accentuated by lovely trim detail & excellent lighting on the main floor, drawing your focus to the handsome & well-appointed kitchen, complete with large island, dark wood cabinetry, gleaming appliances & attractive tile backspash. The added bonus of a new roof, vaulted ceilings in the master bedroom & spa-like ensuite plus a sunny, south-facing backyard makes this home a must-see. Call today.

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April 2, 2015

Metro Vancouver home buyers out in force in March

Demand continued to rise across Metro Vancouver's housing market in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 4,060 on the Multiple Listing Service® (MLS®) in March 2015. This represents a 53.7 per cent increase compared to the 2,641 sales recorded in March 2014, and a 32.6 per cent increase compared to the 3,061 sales in February 2015.

Last month’s sales were 26.8 per cent above the 10-year sales average for the month.

"We're seeing strong competition amongst home buyers today. This is leading to more multiple offer situations and some upward pressure on home prices,” Darcy McLeod, REBGV president said. “For sellers, this means that it's taking less time, on average, for your home to sell if you have it priced correctly for today's market."
   
New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,968 in March. This represents a 13 per cent increase compared to the 5,281 new listings reported in March 2014.
   
Last month’s new listing count was 4.7 per cent higher than the region’s 10-year new listing average for the month.
   
The total number of properties currently listed for sale on the REBGV MLS® is 12,376, a 14.5 per cent decline compared to March 2014 and a 4 per cent increase compared to February 2015.

“The number of homes for sale today is below what’s typical for this time of year,” McLeod said. “If you’ve been considering putting your property on the market, these market conditions indicate that now may be a good time to list.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $660,700. This represents a 7.2 per cent increase compared to March 2014.

The sales-to-active-listings ratio in March was 32.8 per cent. This is the highest that this ratio has been in Metro Vancouver since July 2007.

Sales of detached properties in March 2015 reached 1,711, an increase of 53.3 per cent from the 1,116 detached sales recorded in March 2014, and an 83.4 per cent increase from the 933 units sold in March 2013. The benchmark price for a detached property in Metro Vancouver increased 11.2 per cent from March 2014 to $1,052,800.

Sales of apartment properties reached 1,627 in March 2015, an increase of 47.1 per cent compared to the 1,106 sales in March 2014, and an increase of 65.7 per cent compared to the 982 sales in March 2013. The benchmark price of an apartment property increased 3.3 per cent from March 2014 to $390,200.

Attached property sales in March 2015 totalled 722, an increase of 72.3 per cent compared to the 419 sales in March 2014, and a 67.1 per cent increase from the 432 attached properties sold in March 2013. The benchmark price of an attached unit increased 4.9 per cent between March 2014 and 2015 to $484,900.

*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.
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On Mar 29th, 2:00 PM to 4:00 PM I will be hosting an Open House at 7571 Moffatt Road in BRIGANTINE SQUARE in the Brighouse South neighborhood, Richmond. This is an opportunity to visit this excellent Condo for sale in beautiful Brighouse South.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Brighouse South Condo for sale.

As always please do not hesitate to give me a call at 604.644.1044 if I can answer any questions before the open house, or if you would like to book a private showing.

Alisa Sakamoto
REALTOR® RE/MAX WESTCOAST

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On Mar 21st, 2:00 PM to 4:00 PM I will be hosting an Open House at 3133 Riverwalk Ave in NEW WATER in the Champlain Heights neighborhood, Vancouver. This is an opportunity to visit this excellent Apartment for sale in beautiful Champlain Heights.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Champlain Heights Apartment for sale.

As always please do not hesitate to give me a call at 604.644.1044 if I can answer any questions before the open house, or if you would like to book a private showing.

Alisa Sakamoto
REALTOR® RE/MAX WESTCOAST

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I just finished uploading this Apartment for sale, 319 3133 Riverwalk Ave, Vancouver, BC

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NEW WATER at River District - quality built by Polygon. You will love this spacious & bright 2 bed, 2 bath PLUS in-suite storage unit. Features chef-style kitchen w/ high-end Bosch & Fisher Paykel s/s appl & quartz counters. Open concept living w/ high ceilings, laminate flooring, large windows & a fantastic covered patio w/ partial views of the river - perfect for BBQing all year! Master bdrm has his & her closets and an ensuite w/ double sinks, soaker tub & separate shower. In-floor radiant heating, gas cooking & hot water all INCLUDED in the strata fee! Conveniently located within steps of the Fraser River, trails, parks, public transit & 15 mins away from Metrotown! Amenities include exercise & party room. Rentals allowed.

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