Bob Sethi, B.Comm | 604.273.2828

Metro Vancouver home buyers out in force in March

Metro Vancouver home buyers out in force


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.

 

Copyright Real Estate Board of Greater Vancouver.

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I have listed a new property at 20 9691 ALBERTA RD in Richmond.
New 1-bedroom GARDEN SUITES from Tien Sher Homes - YOUR GREEN ALTERNATIVE to apartment living in Richmond's amenity & transit-rich North McLennan neighborhood. SINGLE-LEVEL new homes with front doors offer you the chance to connect with your own, private outdoor patio & garden. STANDARD FINISHES include radiant floor heating; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with GAS range & French-door fridge; durable wood laminate floors; porcelain tiles; Whirlpool front load clothes washer & dryer; natural GAS BBQ outlet; B.l. security system; BJ. fire-resistant safe. Ask us how to add your personal touch with CUSTOMIZABLE FINISHES AND LAYOUTS!Call or COME VIEW TWO FURNISHED SHOWHOMES TODAY!
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RE/MAX Quest for Excellence

 

 

 

What is RE/MAX Quest for Excellence?

The Quest for Excellence Program is a bursary program for grade 12 students in Western Canada.  It was established by RE/MAX of Western Canada to recognize the success and ongoing pursuits of Western Canadian students in regards to leadership and community contribution initiatives.

 

What is awarded?

RE/MAX of Western Canada will award 16 bursaries of $1,000 each to qualifying Grade 12 students.  In addition, the 16 bursary winners will be entered into a draw and one lucky recipient will receive a RE/MAX Hot Air Balloon ride for two. Bursary winners will be notified and all winners will be posted in April 2015.

 

Who Can Participate?

The Quest for Excellence is open to all Grade 12 students attending high school from September, 2014 - March, 2015. Grade 12 students may not have participated in graduation commencement ceremonies in the past. Applicants must be a resident of one of the following provinces/territories.

    British Columbia
    Alberta
    Saskatchewan
    Manitoba
    Yukon Territory

 

What is Required?

Students are to convey the contributions they have made to their communities in a short online essay, maximum 1,250 words. Key qualities students should demonstrate are leadership, motivation and communication skills.  Other attributes may include volunteering, participation in charitable events or fundraising, and contributions that enrich the lives of others and their communities.

Note: All entries become the property of RE/MAX of Western Canada and photos and names of winners may be used in print publications and media.

 

Submission Instructions

Complete the following on-line application form.
Deadline for entry is March 9th, 2015.
A maximum of one on-line essay per student.

 

CLICK HERE TO ENTER!

 

To print a Quest for Excellence information flyer, click here 

 

If you have any questions regarding this program, please email Kelsey Woodliffe, kwoodliffe@remax.netat RE/MAX of Western Canada.

 

Note: All entries become the property of RE/MAX of Western Canada and photos and names of winners may be used in print publications and media.






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2014 Home sale & listing activity reach historical norms

It was a typical year for the Metro Vancouver housing market in certain respects. The region’s home sale and listing totals for 2014 both rank fifth when compared against the past 10 years of activity, while home prices increased.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2014 reached 33,116, a 16.1 per cent increase from the 28,524 sales recorded in 2013, and a 32.3 per cent increase over the 25,032 residential sales in 2012.

The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver increased 2.4 per cent in 2014 to 56,066 compared to the 54,742 properties listed in 2013. Looking back further, last year’s total represents a four per cent decline compared to the 58,379 residential properties listed for sale in 2012.

“While home buyer and seller activity created balanced market conditions within the region, we also experienced some upward pressure on home prices over the course of the year,” Ray Harris, REBGV president said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $638,500. This represents a 5.8 per cent increase compared to December 2013.

“Detached homes continue to be the most sought after property type in our market,” Harris, said. “Detached homes in Metro Vancouver have increased 8.1 per cent in value over the last 12 months while townhome and condominium properties have increased 4.5 and 3.5 per cent over the same period.”

December summary

Residential property sales in Greater Vancouver totalled 2,116 in December 2014, an increase of 8.3 per cent from the 1,953 sales recorded in December 2013 and a 15.9 per cent decline compared to November 2014 when 2,516 home sales occurred.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,888 in December 2014. This represents a 1.7 per cent increase compared to the 1,856 units listed in December 2013 and a 37.4 per cent decline compared to November 2014 when 3,016 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 10,320, a 10.7 per cent decline compared to December 2013 and a 17.8 per cent decrease compared to November 2014.

Sales of detached properties in December 2014 reached 833, an increase of 9.3 per cent from the 762 detached sales recorded in December 2013. The benchmark price for detached properties increased 8.1 per cent from December 2013 to $1,002,200.

Sales of apartment properties reached 912 in December 2014, an increase of 7.3 per cent compared to the 850 sales in December 2013.The benchmark price of an apartment property increased 3.5 per cent from December 2013 to $380,700.

Attached property sales in December 2014 totalled 371, an increase of 8.8 per cent compared to the 341 sales in December 2013. The benchmark price of an attached unit increased 4.5 per cent between December 2013 and 2014 to $476,800.

 

Source: Real Estate Board of Greater Vancouver. All rights reserved.

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Metro Vancouver home sales remain strong

December 2, 2014


Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.
 
Last month’s sales were 6.9 per cent above the 10-year sales average for November.

 

- CLICK HERE FOR VIDEO


“It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said. 
 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

 

Source: Real Estate Board of Greater Vancouver. All rights reserved.

 

 

 

 

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I have listed a new property at 17 9691 ALBERTA RD in Richmond.
New 1-bedroom GARDEN SUITES from Tien Sher Homes - YOUR GREEN ALTERNATIVE to apartment living in Richmond's amenity & transit-rich North McLennan neighborhood. SINGLE-LEVEL new homes with front doors offer you the chance to connect with your own, private outdoor patio & garden. STANDARD FINISHES include radiant floor heating; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with GAS range & French-door fridge; durable wood laminate floors; porcelain tiles: Whirlpool frontload clothes washer & dryer; natural GAS BBQ outlet; B.1. security system; B1. fire-resistant safe. Ask us how to add your personal touch with CUSTOMIZABLE FINISHES AND LAYOUTS! Call or COME VIEW TWO FURNISHED SHOWHOMES TODAY!
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I have listed a new property at 20 9691 ALBERTA RD in Richmond.
New 1-bedroom GARDEN SUITES from Tien Sher Homes - YOUR GREEN ALTERNATIVE to apartment living in Richmond's amenity & transit-rich North McLennan neighborhood. SINGLE-LEVEL new homes with front doors offer you the chance to connect with your own, private outdoor patio & garden. STANDARD FINISHES include radiant floor healing; sleek quartz countertops; Samsung/Maytag SS Kitchen appliances with GAS range & French-door fridge: durable wood laminate floors: porcelain tiles: Whirlpool frontload clothes washer & dryer: nalural GAS BBQ outlet: B. 1. security system; B.1. fire-resistant safe. Ask us how to add your personal touch with CUSTOMIZABLE FINISHES AND LAYOUTS! Call or COME VIEW TODAY!
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I have listed a new property at 23 9691 ALBERTA RD in Richmond.
MOVE IN THIS YEAR! New three-bedroom homes in Richmond's amenity rich McLennan North neighbourhood. Walking distance to the new Garden City Park, elementary + secondary schools, daycares, shopping & rapid transit. Clever floor plans maximize the open layouts, finely finished with: sleek quartz countertops, custom cabinetry, Samsung SS Kitchen appliances package inc. gas range & French-door fridge, durable wood-laminate floors, porcelain tiles, Whirlpool front load washer + dryer, natural gas BBQ outlet, B.I. security system, B.I. fire-resistant safe plus more. For a limited time: add air conditioning or radiant in-floor heating. Jade discovery centre and showhomes open daily from 12pm-5pm (except Friday).
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I have listed a new property at 210 13678 GROSVENOR RD in Surrey.
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I have listed a new property at 208 13678 GROSVENOR RD in Surrey.
Balance by Tien Sher Homes. Come connect to City Centre, Metro Vancouver's fastest growing downtown hub rich with rapid transit, shopping, schools, Simon Fraser University, parks and amenities. The intelligent space saving designs atBalance maximize every square inch to create stylish and comfortable new homes finished with 9' ceilings, Euro-inspired kitchen appliances, quartz countertops, laminate flooring plus more! Only an 8-minute walk from the Gateway Skytrain Station, come see Metro Vancouver's most affordable new homes here at Balance. Finally, home ownership that lets you live the vibrant lifestyle you crave in a walkable community without compromise! Showings by appointment only - call today.
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I have listed a new property at 129 10788 WHALLEY BLVD in Surrey.
QUATTRO 3 by TIEN SHER HOMES. NEW MOVE IN READY HOMES in Metro Vancouver's fastest growing downtown hub, 'City Centre'. Quattro 3 is walkable to multiple rapid transit options, shopping, schools, Simon Fraser University, parks andamenities. These intelligently designed homes are finished with the finest upgrades including granite countertops, custom cabinetry, 5 piece Whirlpool kitchen appliance package, 2 piece Samsung front loading clothes washer/dryer, oversized windows plus more and include parking and storage. Buy new without having to wait! Showings by appointment only-call today.
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I have listed a new property at 201 13678 GROSVENOR RD in Surrey.
BALANCE by Tien Sher Homes. Come connect to City Centre, Metro Vancouver's fastest growing downtown hub rich with rapid transit, shopping, schools, Simon Fraser University, parks and amenities. The intelligent space saving designs atBalance maximize every square inch to create stylish and comfortable new homes finished with 9' ceilings, Euro-inpsired kitchen appliances, quartz countertops, laminate flooring plus more! Only an 8 minute walk from the Gateway Skytrain Station, come see Metro Vancouver's most affordable new homes here at Balance. Finally, home ownership that lets you live the vibrant lifestyle you crave in a walkable community without compromise! Showings by appointment only - Call today.
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I have listed a new property at 127 10788 WHALLEY BLVD in Surrey.
QUATTRO 3 by TIEN SHER HOMES. NEW MOVE IN READY HOMES in Metro Vancouver's fastest growing downtown hub, 'City Centre'. Quattro 3 is walkable to multiple rapid transit options, shopping, schools, Simon Fraser University, parks andamenities. These intelligently designed homes are finished with the finest upgrades including granite countertops, custom cabinetry, 5 piece Whirlpool kitchen appliance package, 2 piece Samsung front loading clothes washer/dryer, oversized windows plus more and include parking and storage. Buy new without having to wait! Showings by appointment only-call today.
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I have listed a new property at 410 13728 108TH AVE in Surrey.
QUATTRO 3 by TIEN SHER HOMES. NEW MOVE IN READY HOMES in Metro Vancouver's fastest growing downtown hub, 'City Centre'. Quattro 3 is walkable to multiple rapid transit options, shopping, schools, Simon Fraser University, parks andamenities. These intelligently designed homes are finished with the finest upgrades including granite countertops, custom cabinetry, 5 piece Whirlpool kitchen appliance package, 2 piece Samsung front loading clothes washer/dryer, oversized windows plus more and include parking and storage. Buy new without having to wait! Showings by appointment only-call today.
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I have listed a new property at 125 10788 WHALLEY BLVD in Surrey.
QUATTRO 3 by TIEN SHER HOMES. NEW MOVE IN READY HOMES in Metro Vancouver's fastest growing downtown hub 'City Center'. Quattro 3 is walkable to multiple rapid transit options, shopping, schools, Simon Fraser University, parks and amenities.These intelligently designed homes are finished with the finest upgrades including granite countertops, custom cabinetry, 5pc Whirlpool kitchen appliance package, 2pc Samsung front loading clothes washer/dryer, oversized windows plus more and include parking and storage. Buy new without having to wait! Showings by appointment only - call today!
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Metro Vancouver home sales above average in October

Metro Vancouver experiences above average October home sales. Come see your next home at Jade in Richmond's amenity rich McLennan North neighbourhood.


November 4, 2014.


Home sales in the Metro Vancouver* housing market continue to outpace long-term averages for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,057 on the Multiple Listing Service® (MLS®) in October 2014. This represents a 14.9 per cent increase compared to the 2,661 sales in October 2013, and a 4.6 per cent increase over the 2,922 sales in September 2014.
 
Last month’s sales were 16.6 per cent above the 10-year sales average for October.

“We’ve seen strong and consistent demand from home buyers in Metro Vancouver throughout this year. This has led to steady increases in home prices of between four and eight per cent depending on the property,” said REBGV president Ray Harris.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,487 in October. This represents a four per cent increase compared to the 4,315 new listings in October 2013 and a 14.7 per cent decline from the 5,259 new listings in September.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,851, a 9.2 per cent decline compared to October 2013 and a 6.6 per cent decrease compared to September 2014.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,000. This represents a six per cent increase compared to October 2013.

“Detached homes continue to increase in price more than condominium and townhome properties. This is largely a function of supply and demand as the supply of condominium and townhome properties are more abundant than detached homes in our region,” Harris said. 

Sales of detached properties in October 2014 reached 1,271, an increase of 19.1 per cent from the 1,067 detached sales recorded in October 2013, and a 60.9 per cent increase from the 790 units sold in October 2012. The benchmark price for detached properties increased 7.9 per cent from October 2013 to $995,100.

Sales of apartment properties reached 1,268 in October 2014, an increase of 15.5 per cent compared to the 1,098 sales in October 2013, and a 57.9 per cent increase compared to the 803 sales in October 2012. The benchmark price of an apartment property increased four per cent from October 2013 to $380,200.

Attached property sales in October 2014 totalled 518, a 4.4 per cent increase compared to the 496 sales in October 2013, and an 53.3 per cent increase over the 338 attached properties sold in October 2012. The benchmark price of an attached unit increased 4.7 per cent between October 2013 and 2014 to $479,500.

* 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.


As printed in 'Newsflash' by Real Estate Board of Greater Vancouver, November 4th, 2014.


Not intended to solicit properties currently listed for sale. E. & O.E.

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I have listed a new property at 22 9691 ALBERTA RD in Richmond.
JADE by TIEN SHER HOMES. New three-bedroom homes in Richmond's amenity rich McLellan North neighbourhood. Walking distance to the new Garden City Park, elementary + secondary schools, daycares, shopping & rapid transit. Clever floor plans maximize the open layouts, finely finished with: sleek quartz countertops, custom cabinetry, Samsung/Maytag SS Kitchen appliances package inc. gas range & French-door fridge, durable wood-laminate floors, porcelain tiles, Whirlpool front load washer + dryer, natural gas BBQ outlet, B.I. security system, B.l. fire-resistant safe plus more. For a limited time: add air conditioning or radiant in-floor heating. Jade discovery centre and show homes open daily from 12pm-5pm (except Friday).
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I have listed a new property at 18 9691 ALBERTA RD in Richmond.
JADE by TIEN SHER HOMES. New three-bedroom homes in Richmond's amenity rich McLellan North neighbourhood. walk:ing distance to the new Garden City Park, elementary + secondary schools, daycares, shopping & rapid transit. Clever floor plans maximize the open layouts, finely finished with: sleek quartz countertops, custom cabinetry, Samsung/Maytag SS Kitchen appliances package inc. gas range & French-door fridge, durable wood-laminate floors, porcelain tiles, Whirlpool front load washer + dryer, natural gas BBQ outlet, B.!. security system, B.!. fire-resistant safe plus more. For a limited time: add air conditioning or radiant in-floor heating. Jade discovery centre and show homes open daily from 12pm-5pm (except Friday).
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I have listed a new property at 16 9691 ALBERTA RD in Richmond.
BETTER THAN AN APARTMENT! One-bedroom GARDEN SUITES provide your GREEN ALTERNATIVE to apartment living in Richmond's amenity & transit-rich North McLennan neighborhood. SINGLE-LEVEL new homes with their own front door offer you the chance to connect with your own private outdoor patio & garden. STANDARD FINISHES include RADIANT IN-FLOOR HEATING; sleek QUARTZ COUNTERTOPS; Stainless KITCHEN APPLIANCE PACKAGE with GAS range & French-door fridge; durable wood laminate floors; porcelain tiles; frontload clothes washer & dryer; natural GAS BBQ outlet; B.l. security system; B.l. fire-resistant safe. Come in today and see for yourself your better than an apartment new home.
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Bob Sethi, B.Comm
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.