Real Estate News Wednesday, March 16, 2011 Mid March real estate snapshotby Sue Gerryts on Wed, Mar, 16, 2011 06:41 PM The last thirty days in metro Vancouver have been pretty active with 1473 detached home sales across the region. Vancouver West saw 206 house sales, with 104 of these selling over asking. In fact the average sold price was $47k over asking.
Richmond was the second most active area with 202 sales, 69 over asking. The average sale price there was just $509 below asking.
South Surrey/White Rock was the third most active area (135 sales, 27 over asking), followed by Vancouver East (128 sales, 62 over asking).
The north shore communities were pretty active too, with North Vancouver's 88 sales just beating West Vancouver's 87. In these two communities the sales over asking were 27 and 17 respectively.
It is worth noting that the most active areas were also those wher prices are amongst the highest in the region. In fact Vancouver West had an average sale price of $2.2m, over double the average for the region as a whole.
There has been a lot of speculation in the press, and around dinner tables, that overseas buyers from mainland China are contributing to this market. It is difficult to substantiate that, but if it is true then these buyers are not looking for the low end market. They are looking at areas with higher value real estate and often an already established asian community.
Real Estate News Friday, August 20, 2010 Mid August market analysisby Sue Gerryts on Fri, Aug, 20, 2010 02:56 PM As we reach the middle of August it is worth having a sneak peek at how the market is doing.
The volume of sales of detached homes in the major areas of the region is down by at least half of the same period in 2009.
| Area |
Sales in last 30days
2010 |
Sales in last 30 days
2009 |
| Coquitlam |
32 |
140 |
| North Vancouver |
43 |
106 |
| Port Coquitlam |
13 |
55 |
| Port Moody |
12 |
30 |
| Vancouver West |
94 |
203 |
| West Vancouver |
30 |
68 |
| TOTAL |
224 |
602 |
But what of the prices? As the table below shows, the average list price and sold prices are still above those of the same period a year ago.
| |
Average of List Price |
|
Average of Sold Price |
|
| Area |
2009 |
2010 |
2009 |
2010 |
| Coquitlam |
672,789 |
747,828 |
658,784 |
719,843 |
| North Vancouver |
939,413 |
959,426 |
920,584 |
939,049 |
| Port Coquitlam |
517,096 |
554,600 |
506,251 |
537,154 |
| Port Moody |
772,673 |
918,257 |
750,852 |
864,667 |
| Vancouver West |
1,859,226 |
2,037,601 |
1,781,395 |
1,945,528 |
| West Vancouver |
2,028,101 |
2,077,150 |
1,883,528 |
1,907,917 |
| Grand Total |
1,263,659 |
1,505,642 |
1,212,432 |
1,432,545 | Real Estate News Thursday, February 5, 2009 Small signs of market changeby Sue Gerryts on Thu, Feb, 5, 2009 07:02 PM It is interesting to note from our personal experience that things do seem to be picking up. One of our buyers was considering making an offer on a townhouse in Kitsilano after seeing it at the first public open house. The next day when we checked the place over we found that it was already under offer. That kind of quick sale is something we were used to in a hot market.
Another client of mine is offering on an apartment in North Vancouver. Pitching the offer right is no longer something you can base on recent sales given there were only two equivalent properties sold in the last month. On the other hand my client is able to offer well below asking simply because there have been so few sales. |
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