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NEW LISTING!
1367 W 7th Avenue
Vancouver
Treat yourself to the old world charm of this classic London inspired townhome. Step through the wrought iron gates into a beautiful garden courtyard. Tucked away on a quiet tree-lined street this corner unit features bay windows, skylights, two fireplaces, parquet flooring and extensive millwork unlike anything currently available in Vancouver. This inspired space offers house-size living, dining and rec rooms. Enjoy a view of the city from your massive master bedroom w/luxurious marble ensuite; simply the largest 2-bed townhome available. New light fixtures, paint, newer s/s appliances, the list goes on and on. Don't miss your chance to live a life of convenience, class and inspiration at Wemsley Mews. $799,900
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NEW PRICE!
#1106 121 W 15th Street
North Vancouver
Are you disappointed with what $300k buys you? This may be the only listing of the year that truly impresses you. This one bedroom condo is located on the NW corner of an 11 year old concrete building. With sweeping mountain views and peek-a-boo water views to the west this unit is one of a kind. This suite has an open plan with lots of windows, in-suite laundry and stunning new floors. Enjoy the view while you BBQ on your large balcony. Steps to shops, restaurants, transportation and library. All the features you need at a price you can afford! $299.900
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COMING SOON!
INVESTOR ALERT: West End 2-bed & den
Large renovated suite in excellent location and solid building. No rental restrictions and tenanted at $2,500 per month!
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Greetings!
The summer market continues to favour buyers. August marked the third consecutive month that sales activity was below the 10-year monthly average. During this time home listings have also exceeded the 10-year norm. In fact, it has been above average in every month this year. If these trends are to continue in the fall an adjustment in property values is inevitable. Keep reading to see how will this affect you in your area.
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Is there a housing bubble? What does this mean for me?
For several years experts and consumers alike have been debating whether Vancouver is caught in a housing bubble that is on the verge of bursting. These concerns have come to the forefront again given the inflation figures posted in the early part of 2011. In the last three years high demand areas such as Richmond and Vancouver West (the west side) have seen property values rise as much as 45%. Given these figures it is hard to dispute that the market is in for a cooling and/or adjustment period.
Value fluctuation varies from area to area and even from building to building within the same sub-area (in the case of strata). In comparing inflationary figures it is possible to see which areas may have the biggest risk of a price adjustment (i.e. the furthests to fall).
Despite the "booming" real estate industry condo markets in North Van and New West have seen moderate increases in the last 12 months (2.5 - 3.5%). This is largely due to the volume of new units being built in these areas in the last few years. During the same period detached properties in West Van, Richmond, Vancouver and Burnaby have shown increases as high as 27%.
History shows that areas with moderate growth are more likely to hold steady as the market slows while overheated areas will have greater exposure to larger pricing adjustments. In March 2009 the average detached home in greater Vancouver decreased by 14% in a twelve month period while West Van and Vancouver West dropped on average between 22-26%. As the market ebbs and flows remember that all properties are not created equal.
Below is a graph that shows the inflationary figures for several markets in Greater Vancouver.
*all statistics taken from the Real Estate Board of Greater Vancouver Housing Price Index reports.
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August 2011 in your neighbourhood:
North Vancouver:
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Avg Sale Price (year to date) | Median Sale Price |
Sales | Listings |
% Sales to Listings | | Detached Homes |
$752,192 | $880,000 |
73 | 109 |
67% | |
Townhomes & Duplexes |
$639,589 | $599,000 |
23 | 38 |
61% | | Condos |
$400,300 | $355,000 |
63 | 100 |
63% |
West Vancouver:
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Avg Sale Price (year to date) | Median Sale Price | Sales | Listings | % Sales to Listings | | Detached Homes |
$2,183,789 | $2,090,000 |
80 | 144 |
56% | | Townhomes & Duplexes |
$1,030,717 | n/a |
2 | 6 |
33% | | Condos |
$1,088,845 | n/a |
14 | 28 |
50% |
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