VANCOUVER, B.C. – May 2, 2014 – Home buyers and sellers became more active in the Greater Vancouver housing market in April.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,050 on the Multiple Listing Service® (MLS®) in April 2014. This represents a 16.1 percent increase compared to the 2,627 sales recorded in April 2013, and a 15.5 percent increase compared to the 2,641 sales in March 2014.

Last month’s sales were 5.2 percent below the 10-year sales average for April of 3,217.

The sales-to-active-listings ratio currently sits at 19.7 percent in Greater Vancouver, which is the highest this measure has been since June 2011.

“We saw steady increases in home seller and buyer activity in April, which is typically the case in the spring months,” Ray Harris, REBGV president said. “People often look to buy or sell their home this time of year as the school year draws to a close and the summer holiday season is still a few months away,” Harris said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,950 in April. This represents a 1.3 percent increase compared to the 5,876 new listings in April 2013 and a 12.7 percent increase from the 5,281 new listings in March. Last month’s new listing count was 1.2 percent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Greater Vancouver is 15,515, a 7.3 percent decline compared to April 2013 and a 7.2 percent increase compared to March 2014.

“Home prices in the region continue to show steady, yet modest, increases when compared to last year,” Harris said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $619,000. This represents a 3.6 percent increase compared to April 2013.

Sales of detached properties in April 2014 reached 1,336, an increase of 25.6 percent from the 1,064 detached sales recorded in April 2013, and an 18.7 percent increase from the 1,126 units sold in April 2012. The benchmark price for detached properties increased 4.7 percent from April 2013 to $956,700

Sales of apartment properties reached 1,172 in April 2014, an increase of 11.4 percent compared to the 1,052 sales in April 2013, and a 1.5 percent decline compared to the 1,190 sales in April 2012. The benchmark price of an apartment property increased 2.6 percent from April 2013 to $375,500.

Attached property sales in April 2014 totalled 542, a 6.1 percent increase compared to the 511 sales in April 2013, and a 12.2 percent increase over the 483 attached properties sold in April 2012. The benchmark price of an attached unit increased two per cent between April 2013 and 2014 to $464,400.

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VANCOUVER, B.C. – April 2, 2014 – March home sales in Greater Vancouver outpaced last year’s total yet lagged the region’s historical average for the month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,641 on the Multiple Listing Service® (MLS®) in March 2014. This represents a 12.5 percent increase compared to the 2,347 sales recorded in March 2013, and a 4.4 percent increase compared to the 2,530 sales in February 2014.

Last month’s sales were 17.2 percent below the 10-year sales average for March of 3,190.

The sales-to-active-listings ratio currently sits at 18.2 percent in Greater Vancouver, which is unchanged from last month.

“We continue to see steady and stable market conditions across the Greater Vancouver housing market,” said Ray Harris, REBGV president. “There has been a consistent balance between home seller supply and home buyer demand in our marketplace over the last year.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,281 in March. This represents a 9.1 percent increase compared to the 4,839 new listings in March 2013 and a 12.4 percent increase from the 4,700 new listings in February. Last month’s new listing count was 5.9 percent 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 14,472, a 6.4 percent decline compared to March 2013 and a 7.9 per cent increase compared to February 2014.

“Home prices in the region have experienced incremental gains in most areas and property types over the last 12 months,” Harris said. “It’s important to remember that this is a diverse marketplace and trends will vary depending on area and property type.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $615,200. This represents a 3.7 percent increase compared to March 2013.

Sales of detached properties in March 2014 reached 1,116, an increase of 19.6 percent from the 933 detached sales recorded in March 2013, and a 5.7 percent decrease from the 1,183 units sold in March 2012. The benchmark price for detached properties increased 4.2 percent from March 2013 to $945,400.

Sales of apartment properties reached 1,106 in March 2014, an increase of 12.6 percent compared to the 982 sales in March 2013, and a 7.1 percent decline compared to the 1,191 sales in March 2012. The benchmark price of an apartment property increased 3.8 percent from March 2013 to $375,800.

Attached property sales in March 2014 totalled 419, a 3 percent decline compared to the 432 sales in March 2013, and a 16.2 percent decline from the 500 attached properties sold in March 2012. The benchmark price of an attached unit increased 1.3 percent between March 2013 and 2014 to $460,100.

VANCOUVER, BC – March 4, 2014 – 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 percent increase compared to the 1,797 sales recorded in February 2013, and a 43.8 percent 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 percent in Greater Vancouver, a 4.9 percent 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 percent decline compared to the 4,833 new listings reported in February 2013 and a 12.1 percent decline from the 5,345 new listings in January. Last month’s new listing count was 0.5 percent 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 percent decline compared to February 2013 and a 6.4 percent 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 percent increase compared to February 2013.

Sales of detached properties in February 2014 reached 1,032, an increase of 46.6 percent from the 704 detached sales recorded in February 2013, and a 6.3 percent decrease from the 1,101 units sold in February 2012. The benchmark price for detached properties increased 3.5 percent from February 2013 to $932,900.
 
Sales of apartment properties reached 1,032 in February 2014, an increase of 35.8 percent compared to the 760 sales in February 2013, and a 1.2 percent increase compared to the 1,020 sales in February 2012. The benchmark price of an apartment property increased 3.6 percent from February 2013 to $373,300.
 
Attached property sales in February 2014 totalled 466, an increase of 39.9 percent compared to the 333 sales in February 2013, and a 9.9 percent increase from the 424 attached properties sold in February 2012. The benchmark price of an attached unit increased 0.6 percent between February 2013 and 2014 to $458,300.

Vancouver, BC - Feb. 4, 2014 - The first month of 2014 saw home sale and listing totals outpace historical averages in the Greater Vancouver housing market.
 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,760 on the Multiple Listing Service® (MLS®) in January 2014. This represents a 30.3 per cent increase compared to the 1,351 sales recorded in January 2013, and a 9.9 percent decline compared to the 1,953 sales in December 2013.
 
Last month’s sales were 7.2 percent above the 10-year sales average for the month.

“The Greater Vancouver housing market has been in a balanced market for nearly a year. This has meant steady home sale and listing activity accompanied by stable home prices,” Sandra Wyant, REBGV president said.
 
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,345 in January. This represents a 4.2 percent increase compared to the 5,128 new listings reported in January 2013.
 
Last month’s new listing count was 17.7 percent higher than 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 12,602, a 4.9 percent decline compared to January 2013 and a nine percent increase compared to December 2013.
 
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $606,800. This represents a 3.2 percent increase compared to January 2013.
 
With the sales-to-active-listings ratio at 14 percent, the region remains in balanced market territory. “If you’re looking to sell your home in a balanced market, it’s critical that your list price is reflective of current market conditions,” Wyant said.
 
Sales of detached properties in January 2014 reached 728, an increase of 34.3 percent from the 542 detached sales recorded in January 2013, and a 10.5 percent increase from the 659 units sold in January 2012. The benchmark price for a detached property in Greater Vancouver increased 3.2 percent from January 2013 to $929,700.
 
Sales of apartment properties reached 753 in January 2014, an increase of 30.7 percent compared to the 576 sales in January 2013, and an increase of 14.6 percent compared to the 657 sales in January 2012. The benchmark price of an apartment property increased 3.7 percent from January 2013 to $371,500.
 
Attached property sales in January 2014 totalled 279, an increase of 19.7 percent compared to the 233 sales in January 2013, and a 6.9 percent increase from the 261 attached properties sold in January 2012. The benchmark price of an attached unit increased 1.7 percent between January 2013 and 2014 to $457,700.

Vancouver’s housing market finishes the year on an up note with solid momentum and balanced conditions. I’ve being saying this for most of this past year, balanced conditions and a sound market. These conditions are ideal for those looking to buy and sell. Ideal market conditions!

On Vancouver’s Westside single family sales have finished the year up by 33% from 2012. The average sale price increased by 5% to $ 2.546 million and the supply of homes is down by 12% from this period last year.

The same sound picture looks to be true for the townhome and condo market. Sales up by 16 and 11% for townhomes and condos, average sale prices almost unchanged and the supply down by 29% and 12% respectively.

There seems to be a greater sense of consumer optimism as we head into 2014 with regards to our real estate market. A year ago there was much talk of a looming correction which has not seemed to materialize.  The talk on the street now appears more confident that market conditions will remain sound with prices holding steady.  

The past year saw strong demand for building lots of all sizes and still appears to be the case. Also in strong demand looks to be new construction homes on 50 foot and wider lots. These homes appeared to correct downward in the late part of 2012 and by early 2013 demand was back.

If you are planning to sell your home this coming year call upon Jill and I to provide you with an honest realistic assessment of your home. This past year we helped 60 homeowners achieve their real estate goals with success. Put our 21 years of real estate experience to work for you.

Sincerely,

Andrew Hasman
Mobile:604-657-7936
andrew@andrewhasman.com

If you’ve been driving around the neighborhoods of Vancouver’s Westside these past few months you will notice a lot more SOLD stickers on For Sale signs. You’ll also notice many more SOLDS along the busier corridors. Busy street sales are typically a sign of tightening market conditions. Thinking that maybe the market has been busy, well you are right. Home sales in October were up an impressive 72% on the Westside verses last October and supply has fallen by 13%. If you’re a homeowner thinking of selling, this is a time when conditions are right for you!

Overall home sales in the Greater Vancouver area were up 33% and supply was down 10%. These statistics are a far cry from where we were 1 year ago.

This all being said, home prices appear stable and have been much of this year.

So what’s been selling on Vancouver’s Westside? Building lots are still in hot pursuit. For home buyers with deep pockets, the bigger the lot the better! There have been numerous large 15,000 sq. ft plus building lots sold this year and many with multiple offers. We are talking about price levels above $ 3.5 million. In addition to building lots, new home sales have seen a pick up since the summer. There have been numerous 50 ft lot new homes sold compared to a year ago when almost none of these homes were moving.

Forecasts from CMHC predict the stable housing market will continue into 2014. If you are looking to buy or sell and would like a market update specific to your neighborhood call upon us at any time. We are here to help and with over 22 years experience,  you can be assured of receiving honest accurate market information.

Sincerely,

Andrew & Jill Hasman

If September is any indication then we are in for a solid Fall Real Estate market. It looks like confidence has returned based on how the number s look. There seemed to be a resurgence or buyer activity and we saw multiple offers again on many property transactions. In brief here is how the Westside housing numbers faired in  September.

Vancouver Detached , Condos and Townhomes:

• Single Family home sales were up 79% from last September with 154 homes selling compared with only 86 last September
• Supply of homes on the market is 12% down from last year.
• Year to date housing sales are up 21%.
•  Month’s of supply has declined from 12 months a year ago to 6months . This indicates a balanced market.
• Condo sales were up 62% this September compared with last and Townhome sales are up 57%.

Overall it indicated a sound market with balanced conditions. This is an ideal time to buy and sell.

Activity has been seen on all types of properties and across the board in most neighborhoods. Homes selling at all price levels too with many home sales over the $ 4 million mark too.

This market has really been gaining momentum since April of this year when it became evident that Vancouver’s housing market was not in a bubble and prices were not going to collapse. For homeowners who had their homes on the market in 2012 and did not have success, now is an ideal time to be back on the market with so much more buyer activity.

If you have any questions about the market in your neighborhood Jill and I are always available to help and provide our insight. We look forward to your calls and or emails.

Sincerely,

Andrew Hasman

Mobile 604-657-7936
Andrew@andrewhasman.com

While there may be some markets clearly experiencing a soft buyer’s market, the Westside Market definitely saw a turnaround in March with all the sales stats showing a “balanced market”. There was a lot more buzz in the detached market with many more sales, 151 houses to be exact, the busiest month for houses sold since March of last year. Increased sales combined with a reduction of new house listings has brought the months of supply back under 6 which is indicative of a balanced market.

The most sought after properties in the detached market continue to be building lots and older lot value homes. These properties are still attracting the most attention with many sales involving multiple offers and over asking price sales. The new construction market continues to be experiencing the opposite effect with lots of inventory and sluggish sales.

In the Condo and Townhome market the story is the same. A reduced number of new listings, stable demand and stable prices have brought this market also into a more balanced state with 4 to 5 months supply.

March is the make or break month with Real Estate sales typically peaking as we are in the middle of the Spring Market. The increase in March sales provides buyers with some level of confidence that the market is stable and buying real estate is still a great place to park your money whether it’s for your principal residence of for investment.

Market Conditions really do vary by neighborhood and type of property. For a more detailed analysis of what’s happening in your area call or email us today. We have over 20 years experience selling homes on Vancouver’s Westside. Put our wealth of knowledge to work for you.

Westside Detached March summary:

• There were 151 homes sold this March versus 152 homes sold last year. Year to date home sales are down 18% from 415 units to 338 units.
• There were 18% fewer homes brought to the market in March and year to date new home listings are down 18% from 1131 units to 922.
• The supply of homes at month end was 898 units versus 854 a year ago. An increase of 5%
• The month’s of supply has gone from 5.6 last year to 5.9 this March. This number has been well over 8 months and as high as 11 months back in the late summer of last year. A reading under 6 months indicates a Balanced Market with price stability.

Westside Townhomes and Condos:

• Townhome sales were down 14%  in March compared to March of last year. Year to date sales are down 11%
• There were 35% fewer new town home listings in March compared to last year and year to date 22% fewer homes have come to the market.
• The average sale price is up 3% from last March to $ 950,000 and year to date the average price is unchanged.
• There were 12% fewer townhome listings at the end of March going from 302 units last year to 265 units this year.
• The months of supply sits at 4.6 at March month end this year versus 4.4 a year ago. A figure in the 4-7 month range indicates a balanced market.

Condo Sales:

• Condo sales were down 17% in March this year versus last year and year to date are down 16%.
• There were 17% fewer condos brought to the market in March this year and year to date 16% fewer condos have been listed
• The average selling price was up 8% in March this year compared with March last year. Year top date the average sale price is down 3%
• There were 1779 active condo listings at the end of March this year versus 1892 a year ago. A decrease of 5%
• The month’s of supply was 5.5 this year compared to 4.8 last year. The condo market looks balanced.

Overall the Spring Market has come to the Westside with a resurgence of buyers and sales. While we are not seeing sales levels anything like what we saw in 2011, 2010 and prior it’s still a market showing resilience fueled by low interest rates, immigration and confidence among local buyers.

We look forward to your comments and inquiries with any real estate questions you might have.

Happy Spring!

Andrew & Jill Hasman

When you read the real estate market stats in the newspaper and hear it in the media its quite evident that Vancouver’s housing market continues to remain cool.  Sales in February across the region were down again in February some 29% compared to last year and year to date are down 23%. Home prices to are down but ever so slightly.

On Vancouver’s Westside what’s going on really is neighbourhood specific and property specific. I am still seeing the strongest demand in Building Lots ( lot value properties). We sold 2 building lots in February, 1 in Dunbar and 1 in Shaughnessy. Both homes attracted multiple offers with the final selling prices moving way over the asking price. New Construction appears still very soft with a glut of new homes on the market and very few homes selling.

There have been some generous price declines on some properties where home owners need to sell. For those that do not have to sell, many homeowners have taken their homes off the market waiting for better times.

Below is a summary of Vancouver’s Westside Market Stats for February:

Westside Detached Properties:

• During the month of February there were 104 single family home sales compared to 177 last year. That is a decline of 41%. Year to date home sales are down 28% from 263 units last year to 187 units this year.
• The average selling price of a single family home was up 8% this February versus last year to now sit at $ 2,877,809. Year to date the average selling price is 1% higher than last year at $ 2,641,693.
• There were 890 homes on the market for sale at the end of February this year versus 777 last year, an increase of 14%.  
• Month’s supply increased from 4.4 last year to 8.5 this year indicating we are still in a Buyer’s Market.

Westside Attached Properties:

• Townhome sales fell 19% this February compared to last year and Condo sales fell 21%. Year to date Townhome sales are down 8% and Condo sales are down 15%.
• The average sale price of a townhome was just 1% lower than a year ago to now sit at $ 859,473 and Condo average sale prices were 13% lower to $ 589,689. Year to date townhome prices are down 1% and Condo prices are down 11% from the same time a year ago.
• The supply of town homes and condos is virtually unchanged from a year ago.
• The month’s of supply for townhomes has risen from 5.7 a year ago to 7 months this year. Condo supply has climbed from 5.4 to 6.8 months this year.

Over all stats show a soft but fairly stable market with supply levels only marginally up and prices showing resilience. There are pockets where prices have fallen by as much as 15% but for the most part price declines are fairly muted. I would say at the High-End of the market over $ 3 million there are potentially some pretty good deals to be had. Building lots and Lot Value homes in the sought after locations seem to have price stability.

For a more accurate assessment of your homes market value Jill and I are always available to drop by and meet with you. You can reach us anytime on our mobile at 604-657-7936 or via email at Andrew@andrewhasman.com

Yours Truly

Andrew Hasman

After several months of declining sales and negative buyer sentiment the new year appears to be showing signs of a stabilizing market. The year finished off with inventory levels falling off as sellers de- listed their homes for the Holiday Season and for the simple fact that they were not willing to sell at current market levels. I suspect many of these properties will stay off the market until prices firm up or until seller motivation changes. I noticed Open Houses were alot busier in January along with private buyer viewings. Many buyers sitting on the fence last Fall are now looking seriously at making a purchase. Many already have as January sales stayed on par with last year for single family houses and attached properties.

As I write this brief summary we are approaching the Lunar New Year next week. Typically this has been a very busy period for homes sales as many buyers from China make the trip to Vancouver for the purpose of visiting family and purchasing property. So far the numbers of buyers from China does appear far below levels seen in 2010-2012. By this time next month we will have a better idea if the Off- Shore buyer has made any significant impact to our local market. I will keep you posted.

As we approach Spring, many of you that are thinking of selling, this is an ideal time to begin preparing your home for sale. Jill and I are all about pre-listing preparation and it’s a big part of our VALET SERVICE. We don’t just list your home we help you prepare it for a successful sale. Call us today and let us help put you on the path to success.  

Below is a brief summary of how the real estate numbers stack up as at January 31st compared to last year;

Westside Single Family Homes:

• Homes sales were down in January this year by a mere 3% from January 2012 from 86 units to 83 units this year.
• The average selling price of a single family home was down 5% this year from $ 2.485 million to $ 2.345 million.
• The supply of homes is now 3% below last year at January 31st from 796 units to 771 units.
• Month’s supply is virtually unchanged at 9.2 indicating a Buyer’s Market.

Townhomes and Condos:

• Townhomes sales were up 11% and Condo sales were down 5% during the month of January compared to last year.
• The average sale price of a townhome increased 4% to $ 1,000,040 from $ 959,188 and the average condo price fell by 7% from $ 638,814 to $ 592,285.
• The supply of Townhomes was unchanged from last year resulting in 8.5 month’s supply. Condo inventory was up 2% resulting in 7.7 month’s supply versus 7.1 month’s last year.

Greater Vancouver ( All Areas) Detached:

• Across the Greater Vancouver area single family home sales were down 17% from last January with average sale prices holding stable at $ 1,152,000 virtually unchanged from last year.
• The supply of homes on the market was 7% higher at month’s end resulting in 10.5 month’s supply versus 8 month’s last year. This is still considered to be a Buyer’s market.

For a more detailed analysis of what is going on in your specific neighborhood please contact us anytime. Prices and market conditions can be neighborhood specific, reading into the above statistics don’t necessarily tell the picture that is relevant to your home. We look forward to your calls anytime

Yours Truly,

Andrew & Jill Hasman
Direct 604-657-7936