Blog › March 2014

 

CMHC Housing Market Outlook-Housing market intelligence you can count on

British Columbia Region Highlights

http://www.cmhc-schl.gc.ca/odpub/esub/65442/65442_2012_Q04.pdf?fr=1354193192390

Recently Sold Listing 109 - 2468 Atkins Ave, Port Coquitlam, British Columbia

V1055216 - 109 - 2468 Atkins Ave, Port Coquitlam, British Columbia, CANADAI have just recently sold this listing at 109 - 2468 Atkins Ave, Port Coquitlam.

New Listing 109 - 2468 Atkins Ave, Port Coquitlam, British Columbia

V1055216 - 109 - 2468 Atkins Ave, Port Coquitlam, British Columbia, CANADAView my new listing for sale SOLD at 109 - 2468 Atkins Ave, Port Coquitlam and currently listed at $268,000.SOLD

Location & value! Spacious and south facing 2 bedroom, 2 bath condo at The Bordeaux. A short walk to downtown! Large master master bedroom, walk in closet & ensuite. Large main bathroom with soaker tub. Features: stainless stell appliances in kitchen, granite counters in kitchen/baths, open floor plan. Excellent quality construction with high-end finishings. Independent backyard gate easy access to the Gates Park.

New Listing 3123 Quintette Crescent, Coquitlam, British Columbia

v1050539 - 3123 Quintette Crescent, Coquitlam, BC, CANADAView my new listing for sale SOLD at 3123 Quintette Crescent, Coquitlam and currently listed at $1,060,000.SOLD

Westwood Plateau prestigious executive house. Meticulously renovated & well maintained by the owners. Functional floor plan with huge new Sunroof deck on Main floor: 18" high cieling formal living room & formal dining room on the east wing;family room, Den & a full bath on the west wing. Gourmet kitchen has Bosch S/S range, tons of cabinets & granite counter tops with S/S appliances, large island w/cooktop & huge pantry. Granite flooring in foyer. Radian heating throughout the house. Upper floor has 4 large bedrooms w/2 ensuites, & 2 huge WI closets. Basement can be 2 bdrms suite w/separate entry for mortgage helper. Walking distance to Pinetree schools, Town centre park, Douglas & future Skytrain Station.

Home sales and listings continue to follow historical averages

In the first two months of 2014, the Greater Vancouver housing market has maintained the steady pace set throughout 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,530 on the Multiple Listing Service® (MLS®) in February 2014. This represents a 40.8 per cent increase compared to the 1,797 sales recorded in February 2013, and a 43.8 per cent increase compared to the 1,760 sales in January 2014.

Last month’s sales total mirrors the 10-year sales average for February of 2,547, with just 17 sales separating the two figures.

The sales-to-active-listings ratio currently sits at 18.9 per cent in Greater Vancouver, a 4.9 per cent increase from last month.

“Home buyer demand picked up in February, which is consistent with typical seasonal patterns in our housing market,” said Sandra Wyant, REBGV president.  “We typically see home buyers become more active in and around the spring months.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,700 in February. This represents a 2.8 per cent decline compared to the 4,833 new listings reported in February 2013 and a 12.1 per cent decline from the 5,345 new listings in January. Last month’s new listing count was 0.5 per cent below 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 13,412, a 9.3 per cent decline compared to February 2013 and a 6.4 per cent increase compared to January 2014.

“With the market continuing to perform at a steady, balanced pace, it’s important for home sellers to ensure their homes are priced correctly for today’s conditions,” Wyant said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $609,100. This represents a 3.2 per cent increase compared to February 2013.

Sales of detached properties in February 2014 reached 1,032, an increase of 46.6 per cent from the 704 detached sales recorded in February 2013, and a 6.3 per cent decrease from the 1,101 units sold in February 2012. The benchmark price for detached properties increased 3.5 per cent from February 2013 to $932,900.

Sales of apartment properties reached 1,032 in February 2014, an increase of 35.8 per cent compared to the 760 sales in February 2013, and a 1.2 per cent increase compared to the 1,020 sales in February 2012. The benchmark price of an apartment property increased 3.6 per cent from February 2013 to $373,300.

Attached property sales in February 2014 totalled 466, an increase of 39.9 per cent compared to the 333 sales in February 2013, and a 9.9 per cent increase from the 424 attached properties sold in February 2012. The benchmark price of an attached unit increased 0.6 per cent between February 2013 and 2014 to $458,300.