Bob Sethi, B.Comm | 604.273.2828

 
I have listed a new property at 103 6033 KATSURA ST in Richmond.
You don't see this often! Rare 960 sq.ft. 2 bedroom, 2 bathroom PLUS den in award-winning Adera Development's RED building. Six years young and offering the finest quality home in a premiere location. Perfect for young couples and families with great room layout featuring master bedroom & ensuite opposite to second bedroom and den. Big and bright, both bedrooms and den with windows to courtyard. Kitchen with full-sized GE appliance package. Laundry with room for storage, bikes or even a pantry. Living room opens to covered walk out patio. Excellent Strata and property management. Just down the road from McLennan North Park, Canada Line, shops, schools plus so much more. Call today!
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I have listed a new property at 41 1111 EWEN AVE in New Westminster.
NEW 2- AND 3-BEDROOM TOWNHOMES FROM $324,900. Centrally located in BC's Lower mainland, English Mews II in New Westminster's Queensborough community puts you within walking distance of rapid transit , schools and parks. Enjoy shopping and restaurants at Queensborough Landing Wal-Mart, Best Buy, Home Outfitters, Starbucks, Tim Hortons, plus more), Starlight Casino and Lowes. Developed by the Tien Sher Group of companies, English Mews II is the perfect home for your family including a 7-piece Samsung / May tag appliance package, quartz counter tops, wood-laminate floors, security system and gas BBQ hookup. Call today.
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I have listed a new property at 11180 KINGSGROVE AVE in Richmond.
Rare opportunity to build in family-friendly lronwood neighborhood. Area is loaded with public amenities including several schools, parks and transit perfect for families. This building lot is also minutes from Ironwood shopping centre - home to Save On Foods, London Drugs, Canadian Tire, doctor/dental services, plus so much more. Building plan available for this lot and for neighboring 11200 Kingsgrove Avenue, also for sale. Call today!
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I have listed a new property at 11200 KINGSGROVE AVE in Richmond.
Rare opportunity to build in family-friendly lronwood neighborhood. Area is loaded with public amenities including several schools, parks and transit perfect for families. This building lot is also minutes from Ironwood shopping centre - home to Save On Foods, London Drugs, Canadian Tire, doctor/dental services, plus so much more. Building plan available for this lot and for neighboring 11180 Kingsgrove Avenue, also for sale. Call today!
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I have listed a new property at 217 13728 108TH AVE in Surrey.
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I have listed a new property at 40 1111 EWEN AVE in New Westminster.
NEW 2- AND 3-BEDROOM TOWNHOMES FROM $324,900. Centrally located in BC's Lower mainland, English Mews II in New Westminster's Queensborough community puts you within walking distance of rapid transit, schools and parks. Enjoy shopping andrestaurants at Queensborough Landing Wal-Mart, Best Buy, Home Outfitters, Starbucks, Tim Hortons, plus more), Starlight Casino and Lowes. Developed by the Tien Sher Group of Companies, English Mews II is the perfect home for your family including a 7-piece Samsung / Maytag appliance package, quartz countertops, wood-laminate floors, security system and gas BBQ hookup. Call today.
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I have listed a new property at 30 1111 EWEN AVE in New Westminster.
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Home sales continue at below average pace

Home sale activity has trended below historical averages for a full year in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013. This represents a 29.4 per cent decrease compared to the 2,545 sales recorded in February 2012, and a 33 per cent increase compared to the 1,351 sales in January 2012.

 

Last month’s sales were the second lowest February total in the region since 2001 and 30.9 per cent below the 10-year sales average for the month.

 

“Sales in February followed recent trends and were below seasonal averages, though our members tell us they saw more traffic at open houses last month compared to the previous six to eight months, said Eugen Klein, REBGV president.

 

The sales-to-active-listings ratio currently sits at 12.2 per cent in Greater Vancouver, a two per cent increase from last month. This is the first time this ratio has been above 11 per cent since June 2012.

 

“With a two-point increase in our sales to active listings ratio and a reduction in the average number of days it’s taking to sell a home, February showed some subtle indications of a changing sentiment in the marketplace compared to recent months,” Klein said.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,833 in February. This represents a 13 per cent decline compared to the 5,552 new listings reported in February 2012 and a 5.8 per cent decline from the 5,128 new listings in January. Last month’s new listing count was 4 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 Greater Vancouver MLS® is 14,789, a 5.2 per cent increase compared to February 2012 and an 11.6 per cent increase compared to January 2013.

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 5.6 per cent to $590,400. This represents a 3.3 per cent decline compared to this time last year.

 

Sales of detached properties in February 2013 reached 704, a decrease of 36.1 per cent from the 1,101 detached sales recorded in February 2012, and a 49.8 per cent decrease from the 1,402 units sold in February 2011. The benchmark price for detached properties decreased 4.5 per cent from February 2012 to $901,500. Since reaching a peak in May 2012, the benchmark price of a detached property has declined 6.8 per cent.

 

Sales of apartment properties reached 760 in February 2013, a decline of 25.5 per cent compared to the 1,020 sales in February 2012, and a decrease of 37 per cent compared to the 1,206 sales in February 2011. The benchmark price of an apartment property decreased 3 per cent from February 2012 to $360,400. Since reaching a peak in May 2012, the benchmark price of an apartment property has declined 5.1 per cent.

 

Attached property sales in February 2013 totalled 333, a decline of 21.5 per cent compared to the 424 sales in February 2012, and a 31.9 per cent decrease from the 489 attached properties sold in February 2011. The benchmark price of an attached unit decreased 0.7 per cent between February 2012 and 2013 to $455,500. Since reaching a peak in April 2012, the benchmark price of an attached property has declined 6.5 per cent.

 

For a detailed stats package send email to bob@bobsethi.com

 

copyright (C) real estate board of greater vancouver. all rights reserved.

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Commercial real estate sales in the Lower Mainland exceed $5 billion in 2012

The dollar value from commercial real estate transactions in the Lower Mainland eclipsed the $5 billion mark in 2012. This is the first time the region’s commercial real estate market has reached this mark since 2009, according to data from Commercial Edge—a commercial real estate system operated by the Real Estate Board of Greater Vancouver (REBGV).

 

Last year’s $5.21 billion total represents an 11.2 per cent increase from 2011 when the year’s dollar value was $4.686 billion, a 12 per cent increase from 2010’s total of $4.655 billion, and a 62.1 per cent increase of 2009 when the annual dollar value total was $3.215 billion.

 

The Commercial EDGE system includes all commercial real estate transactions in the Lower Mainland, excluding Pitt Meadows and Chilliwack, that have been registered with the Land Title and Survey Authority of British Columbia since 2009.

 

There were 1,875 commercial real estate sales in the Lower Mainland in 2012, according to Commercial EDGE. This is 2.6 per cent below the 1,926 sales recorded in 2011, 9.6 per cent above the 1,710 sales recorded in 2010 and an increase of 46 per cent from the 1,287 sales recorded in 2009.

 

“The strength of last year’s commercial real estate market can be attributed in part to an upswing in raw land sales in the region,” Eugen Klein, REBGV president said. “With this inaugural release of the quarterly Commercial EDGE report, we hope to help inform the public on trends occurring in our commercial real estate market.”

 

2012 activity by category:


Land: There were 599 commercial land sales in the Lower Mainland in 2012, up 15 per cent from the 521 land sales in 2011. The dollar value of last year’s land sales was $2.051 billion, a 9.7 per cent increase from $1.870 billion in 2011.

 

Office and Retail: There were 655 office and retail sales in the Lower Mainland in 2012, down 13.5 per cent from the 757 office and retail sales in 2011. The dollar value of last year’s office and retail sales was $1.813 billion, an increase of 18 per cent from 1.536 billion in 2011.

 

Industrial: There were 519 industrial land sales in the Lower Mainland in 2012, down 2.4 per cent from the 532 industrial land sales in 2011. The dollar value of last year’s industrial sales was $803 million, a 2.3 per cent increase from $785 million in 2011.

 

Multi-Family: There were 102 multi-family sales in the Lower Mainland in 2012, which is down 12 per cent from the 116 sales in 2011. The dollar value of last year’s multi-family sales was $544 million, a 10 per cent increase from $494 million in 2011.

 

copyright (c) real estate board of greater vancouver. all rights reserved

 
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I have listed a new property at 101 13728 108TH AVE in Surrey.
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I have listed a new property at 104 13728 108TH AVE in Surrey.
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Bob Sethi, B.Comm
Office:604.273.2828
Fax:604.273.0685
RE/MAX Westcoast
#110-6086 Russ Baker Way
Richmond, BC
V7B 1B4 Canada

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