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 Tuesday, March 15, 2011 What is happening at the top end of the market?by Sue Gerryts on Tue, Mar, 15, 2011 01:34 PM As at March 15, 2011, according to the MLS® in the last 30 days there were 521 sales over $1m in metro Vancouver. Nearly half of these were in Vancouver West(247) and of those 110 went over asking. Richmond was the second most active area at 106 sales, 40 being over asking. West Vancouver was the third most active at 82, with 15 being over asking.
All this points to an active market at the higher end. Many people speculate that this is driven by offshore money, perhaps from China. It is not easy to confirm this accurately. It is not surprising when you consider how attractive a place Vancouver is to live in, and how relatively inexpensive its real estate is compared to the rest of the world. Real Estate News Friday, November 19, 2010 West Vancouver Snapshotby Sue Gerryts on Fri, Nov, 19, 2010 02:00 PM Over the last 30 days, there have been 49 homes sold in West Vancouver. The average sale price was $1,951,973
The most active areas for sales were the British Properties (7), Queens (6) and Caulfeild (5).
The sales volume is about half that of the equivalent period last year - when 97 sold, though the average sale price at that time was $1,626,000. So sales volume is down but prices remain higher than last year. 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, October 15, 2009 North shore market snapshot – October 15, 2009by Sue Gerryts on Thu, Oct, 15, 2009 07:14 PM I just had a look at the sales on the north shore in the last month.
In North Vancouver we saw a healthy sales volume. Figures in brackets show the average sold price:
- 89 houses
($964,840)
- 64 apartments
($362,903)
- 34 townhouses
($566,093)
- 5 half duplexes
($755,900)
In West Vancouver the market as usual is in houses, reflecting the nature of the area:
- 56 houses
($1,072,000)
- 6 apartments
($770,167)
- 5 townhouses
($836,000)
- 1 half duplex
($3,460,000) |
| |
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