Monday, June 20, 2011
Changes the MLS Areas/Boundaries
There are a few recent changes (June 16, 2011) to the MLS Areas/Boundaries of which people should be aware.
New sub-area boundaries have been implemented for the False Creek area of Downtown Vancouver. What was previously termed "False Creek North" will find itself under the new heading of "Yaletown".
The original "False Creek" boundaries have been expanded to cover the area at and around the Olympic village site.
These changes can be viewed by clicking here.
It is good to see Yaletown has received its own classification within the MLS system - it is a distinctive neighbourhood in Downtown Vancouver. I expect to see similar changes for other areas soon (Gastown).
If you are running your own searches, please remember to use the new categories. If you receive automatic listing searches via email from Amalia Liapis or use the preconfigured searches on this website, the criteria have already been adjusted.
Friday, June 3, 2011
Housing Market Spring Activity in April
VANCOUVER, B.C. – Vancouver saw a typical, solid month of residential home sales on the MultipleListing Service in April, in contrast to the near record pace witnessed in the two preceding months.
The Real Estate Board of Greater Vancouver reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011.
Looking back further, last month’s residential sales represent an 8.8 per cent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a 4.8 per cent decline compared to the 3,387 sales in April 2007.
While it continues to be a seller’s market (Detached) in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,the REBGV president said. The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS, as there were more detached and townhome sales this April compared to last year.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,847 in April 2011. This represents a 23.5 per cent decline compared to April 2010 when 7,648 properties were listed for sale on the MLS, which was an all-time record for April. Compared to March 2011, last month’s new listings total registered a 14 per cent decline.
At 14,187, the total number of residential property listings on the MLS increased 8.2 per cent in April compared to last month and declined 10 per cent from this time last year.
There’s considerable variation in activity within the communities in our region. This is causing home price trends to differ depending on the area.
The MLSLink Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5 per cent to $622,991 in April 2011 from $593,419 in April 2010.
Sales of detached properties on the MLS in April 2011 reached 1,402, an increase of 2.3 per cent from the 1,370 detached sales recorded in April 2010, and a 17.8 per cent increase from the 1,190 units sold in April 2009. The benchmark price for detached properties increased 7.4 per cent from April 2010 to $879,039.
Sales of apartment properties reached 1,201 in April 2011, a 21.3 per cent decrease compared to the 1,526 sales in April 2010, and an increase of 1.9 per cent compared to the 1,179 sales in April 2009. The benchmark price of an apartment property Sales of apartment properties reached 1,201 in April 2011, a 21.3 per cent decrease compared to the 1,526 sales in April 2010, and an increase of 1.9 per cent compared to the 1,179 sales in April 2009. The benchmark price of an apartment property increased 2.9 per cent from April 2010 to $409,242.
Attached property sales in April 2011 totalled 622, a 1 per cent increase compared to the 616 sales in April 2010, and a 4.7 per cent increase from the 594 attached properties sold in April 2009. The benchmark price of an attached unit increased 2.4 per cent between April 2010 and 2011 to $514,670.
In the coming Summer months we should continue to see the strong activity of Westside Detached homes. I believe we will see a strong increase of activity in Apartments and Townhomes. For those who are considering a purchase in this sector of the market…now is a good time to buy.
As always I am available for your questions.
Categories: 2011 | 2012 | 2013 | Amalia Liapis | Amalia Liapis; | Awards | banking | BC | Best | Buying | Canada | Closing Costs | Commercial | condos | Cute Video | Finances | financing | forecast | Home | Houses | Housing | HST | Insurance | investments | Legislation | Market | Market Stats | market trends | MLS Listings | mortgage | mortgages | price index | Prices | Re/max | real e | Real Estate | Sales | Selling | Stats | strata | Tax | Taxes | townhomes | Vancouver | Westender | Yaletown