Questions or comments?  Please don't hesitate to get in touch at: kim@kimmcalpine.com or on 778.317.9909

Questions or comments?  Please get in touch at: 778 317 9909 or kim@kimmcalpine.com

Wondering what the median sale price for a home is, in your area?  Check out these great infographics:

Hi Everyone,

I hope you have all been enjoying this wonderful summer!

And to keep the smiles on your faces, we have sunny news to report in the Vancouver real estate market for July.  Looking at the whole of the Greater Vancouver area, home sale activity in July was the highest selling month of the year, and the highest selling July since 2009.  We usually see a bit of a 'summer slow-down' in real estate, but this year July has bucked that trend.

Sales volume was up 40.4% compared to July 2012, and 11.5% compared to June 2013.  It is also the first time in about a year that sales volume has hit the 10-year sales average for the month (it was actually .1% above - we'll take it).

“Demand has strengthened in our market in the last few months, which can, in part, be attributed to pent-up demand from the slowdown in sales activity we saw at the end of last year,” Sandra Wyant, REBGV president said. 

Looking specifically at the Vancouver markets, July figures show that we are in a seller's market in East Vancouver across all of the three property types (detached, attached and apartments), while the westside is sitting in more balanced market conditions.

Home prices remain fairly stable, with the biggest changes coming from Vancouver's westside.  The median sale prices for detached properties and condos are up 10% and 8.4% respectively compared to July 2012.  The median price for attached properties (townhouses and duplexes) are down .4% compared to July 2012.

On the eastside, it was only the detached properties that posted a gain in the median sales price by 3.2% compared to July 2012.  Attached properties and condos were down .2% and 1.4% respectively, when compared to July 2012.

Overall, prices in the GVRD are down 2.3% compared to the same time last year, but have increased 2.3% over the last six months.

“Home prices continue to experience considerable stability with minimal fluctuation throughout much of this year,” Wyant said. “This stability in price brings greater certainty to the home buying and selling process.”

For more charts and information, you can join my newsletter by contacting me at: kim@kimmcalpine.com

If you or someone you know has questions about the market or is thinking of buying or selling, let's chat!  I can be reached at: kim@kimmcalpine.com or on: 778 317 9909.

Come join me in on social media or the world wide web:
Twitter: kimmcalpine
Facebook: www.facebook.com/KimMcAlpineMacRealty
Web: www.kimmcalpine.com

Hi Everyone,

Happy (belated) Canada Day!  I hope you are all enjoying this gorgeous summer weather - don't forget your sunscreen.

Looking back at the month of June in Vancouver real estate, we are seeing much of the same trend continuing: an increase in sales volume compared to the same time last year, stable pricing and overall less inventory on the market compared to last year.

May is traditionally the busiest month for real estate in Greater Vancouver, so it's no surprise that sales volume in June 2013 was down 8.3% compared to May 2013, but the encouraging news is that this shows a 11.9% increase compared to June 2012.  Volume is still below the 10-year average for the month by 22.2%, but this is what was expected. 

Economists have been telling us for a while now that they expect moderate increases in 2013, compared to 2012, with our economic recovery to pick up in the latter half of 2014 - let's hope they are correct!  There are many positive signs coming out of the US, our biggest trade partner, that their housing market finally moving towards recovery.

We have seen very moderate interest rate increases from record lows of 2.89% for a 5 year fixed term, to, STILL record lows of 3.04%.  The move is a reaction to increases in the bond market, where the banks have seen their borrowing costs tick higher of late. Increasing consumer lending rates is the bank's way of passing those costs on to consumers. The bond market increases were in reaction to optimistic comments from the U.S. central bank.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,900.  As expected, housing prices are down slightly from the same time last year, by 3%, but have shown slight increases compared to January 2013, by 2.3%.

New listings for detached, attached and apartment properties in Greater Vancouver are down 13.2% compared to June 2012 and 13.8% less from May of this year.  The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 17,289, a 6% decrease compared to June 2012 and a 0.4% increase compared to May 2013.

For more charts and information, you can join my newsletter by contacting me at: kim@kimmcalpine.com

If you or someone you know has questions about the market or is thinking of buying or selling, let's chat!  I can be reached at: kim@kimmcalpine.com or on: 778 317 9909.

Come join me in on social media or the world wide web:
Twitter: kimmcalpine
Facebook: www.facebook.com/KimMcAlpineMacRealty
Web: www.kimmcalpine.com

Questions or comments?  Please get in touch at: 778 317 9909 or kim@kimmcalpine.com

Hi Everyone,

Having a look at May 2013, we saw a healthy spring real estate market, with good balance between supply and demand across the Greater Vancouver area.  These conditions have continued to have a steadying affect on median sales prices.

“We’ve seen some steadying trends over the last three months,” Sandra Wyant, REBGV president said. “The number of homes listed for sale has been keeping pace with the number of property sales, leading to a balanced sales-to-listings ratio. This is having a stabilizing influence on home price activity.”

The Real Estate Board of Greater Vancouver reported that residential property sales in Greater Vancouver reached 2,882 on the Multiple Listings Service (MLS) in May 2013.  This is a 1% increase over May 2012, and a 9.7% increase over April 2013.

While overall sales volume is still below the 10 year average, the detached housing segments on both the east and west sides, along with attached properties on the west side saw their highest volumes since June 2011.  With fewer new listings coming onto the market, all segments finished the month on the cusp of a Sellers/Balanced market, bar east side detached and attached homes, which pushed further into Seller's market territory.  West side attached properties are not far behind.

For more charts and information, you can join my newsletter by contacting me at: kim@kimmcalpine.com

If you or someone you know has questions about the market or is thinking of buying or selling, let's chat!  I can be reached at: kim@kimmcalpine.com or on: 778 317 9909.

Come join me in on social media or the world wide web:
Twitter: kimmcalpine
Facebook: www.facebook.com/KimMcAlpineMacRealty
Web: www.kimmcalpine.com

Questions or comments?  Please get in touch at: 778 317 9909 or kim@kimmcalpine.com

Hi Everyone,

Looking back at April 2013, the overall picture is 'steady as she goes'.  While sales volume is still below the 10 year average, we are seeing a fairly healthy spring market, with supply and demand in better balance than what we saw in the latter half of 2012.  Sales volume is up 11.9% compared to March 2013.

With the exception of the condo property segment on the east side, we're seeing all other property types finishing the month in a balanced state or verging on seller's market on Vancouver's east and west sides.

“While the number of home sales remains below average, properties that are priced right are selling and we’re seeing greater balance between buyer demand and the number of homes listed for sale. This is having a steadying influence on home prices in the region,” says Sandra Wyant, REBGV president.

Wyant went on to say, “There have been modest increases in home prices across the region over the last three months. This comes on the heels of home price declines of approximately five to six per cent in Greater Vancouver during the last half of 2012."

Looking at the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver:
-Detached homes: decreased 5.2% from April 2012 to $914,000. Since January 2013 they have increased 1.4%
-Apartment properties: decreased 2.6% from April 2012 to $365,900. Since January 2013 they have increased 2.1%
-Attached properties: decreased 3.5% between April 2012 and 2013 to $455,200. Since January they have increased 1.2%

For more charts and information, you can join my newsletter by contacting me at: kim@kimmcalpine.com

If you or someone you know has questions about the market or is thinking of buying or selling, let's chat!  I can be reached at: kim@kimmcalpine.com or on: 778 317 9909.

Come join me in on social media or the world wide web:
Twitter: kimmcalpine
Facebook: www.facebook.com/KimMcAlpineMacRealty
Web: www.kimmcalpine.com

Questions or comments?  Please get in touch at: 778 317 9909 or kim@kimmcalpine.com

Hello Everyone,

How beautiful is this sunshine right now?  The cherry blossoms in full bloom sure make it a joy to be in living and walking the streets of Vancouver.  That's my excuse for getting these stats out so late to you all this month :)

Despite the same story of lower-than-average sales volume in March 2013, both Vancouver's east and west sides continue the trend out of a buyer's market towards more balanced and even seller's market territory.  The strongest market segment was the townhouse market on the westside with a 4.6 months supply of inventory.  Eastside condos and townhouses were not far behind with 5.0 and 5.3 months supply respectively.  The continued decline of new listings onto the market is the biggest contributing factor to this trend.

Additionally, while sales volume is down 18.3% for March 2013, compared to March 2012, we are up 30.6% compared to February 2013.  We are seeing a brisk and healthy spring market.

“While home sales were below what’s typical for March, we are seeing more balance between the number of sales and listings on the market in the last two months, which is having a stabilizing impact on home prices,” Sandra Wyant, REBGV president said.

As we get deeper into our spring market, it is not unusual to see multiple offers for well-priced homes in Vancouver, despite the lower-than-average sales volumes we continue to experience.  My advice to buyers is to act quickly once you find the home you wish to purchase.  Good properties, particularly in the detached market, are being snapped up quick.

If you or someone you know has questions about the market or is thinking of buying or selling, let's chat!  I can be reached at this address or on: 778 317 9909.

Come join me in on social media or the world wide web:
Twitter: kimmcalpine
Facebook: www.facebook.com/KimMcAlpineMacRealty
Web: www.kimmcalpine.com

*Month's Supply Key:
Seller's Market = 1-5 months
Balanced Market = 5-7 months
Buyer's Market = Over 7 months
Source of data: Real Estate Board of Greater Vancouver

Kind regards,

Kim

Questions or comments?  Please get in touch at: 778 317 9909 or kim@kimmcalpine.com.