Firstly we want to wish all our clients past & present the very best for 2013.  We also want to thank you all for your continued support making this past year another very successful year for our company despite adverse market conditions.

This year we are celebrating a milestone of 20 years selling homes in Vancouver. For all of those 150 or so guests who made it to our jam-packed client celebration, thank you for being apart of a fabulous evening.

This past year saw a definte adjustment in certain types of property markets in Vancouver.  Tighter mortgage lending policies, a decline in buyers from China & worries about economics weighed on peoples confidence to buy real estate in 2012.

With this all being said, the overall property market appears stable with inventories quickly declining as we approached year end.  I think many are approaching 2013 with cautious optimism that the property market will remain stable.

The market correction on Vancouver's Westside the past year has been healthy. We could see prices dip further but I'm betting the next 3 months ( Jan-March ) will see a more robust market with prices stabilizing. Beyond that it's anyones guess.

The December sales stats are listed below.

Westside Single Family Detached Properties:

• During the month of December home sales were down 20% versus last year from 62 sales to 49 sales this year. For the full year of 2012 home sales were down 37% from 1986 units down to 1243 units.
• The average selling price of a single family home was down 22% from $2.79 million last year to $2.152 million this year. For the full year the average selling price looks even at approximately $ 2.4 million.
• The supply of single family homes ended the year at 697 units versus 558 units a year ago. An increase of 24%.
• Months of supply increased from 9 months last year to 14 months this year. This indicates a Buyers Market.

Townhomes and Condos:

• Townhome sales were about even with last December and Condo sales were down 40%! Year to date Townhome sales were down 26% and Condo sales were down 22%.
• The average sale prices of a townhome was 5% higher this December at $899,000 and year to date average sale price is down just 1% at $932,000. Condo prices in December were 9% lower at $578,800 and year to date down 2% to $ 618,500.
• The supply of townhomes was 10% higher at years end versus the same time last year at 230 units. Condo supply was 16% higher this year at 1527 units.
• Months of supply for townhomes increased slightly from 6 months to 7 months at years end. Condo months of supply climbed from 5 months last year to 10 months this year.

The above numbers are just averages and numbers for the whole Westside. For an accurate assessment of your property it’s important to focus on sales and activity by specific type of properties and in specific neighborhoods.


For a Market Evaluation specific to your home & neighborhood call or email us anytime.  Jill & I bring a wealth of experience & knowledge about what it takes to sell for the highest possible price & negotiate the best deal when buying.

We look forward to hearing from you soon.

Andrew & Jill Hasman

Andrew Hasman Remax

Firstly we want to wish all our clients past & present the very best for 2013.  We also want to thank you all for your continued support making this past year another very successful year for our company despite adverse market conditions.

This year we are celebrating a milestone of 20 years selling homes in Vancouver. For all of those 150 or so guests who made it to our jam-packed client celebration, thank you for being apart of a fabulous evening.

This past year saw a definte adjustment in certain types of property markets in Vancouver.  Tighter mortgage lending policies, a decline in buyers from China & worries about economics weighed on peoples confidence to buy real estate in 2012.

With this all being said, the overall property market appears stable with inventories quickly declining as we approached year end.  I think many are approaching 2013 with cautious optimism that the property market will remain stable.

The market correction on Vancouver's Westside the past year has been healthy. We could see prices dip further but I'm betting the next 3 months ( Jan-March ) will see a more robust market with prices stabilizing. Beyond that it's anyones guess.

The December sales stats are listed below.

Westside Single Family Detached Properties:

• During the month of December home sales were down 20% versus last year from 62 sales to 49 sales this year. For the full year of 2012 home sales were down 37% from 1986 units down to 1243 units.
• The average selling price of a single family home was down 22% from $2.79 million last year to $2.152 million this year. For the full year the average selling price looks even at approximately $ 2.4 million.
• The supply of single family homes ended the year at 697 units versus 558 units a year ago. An increase of 24%.
• Months of supply increased from 9 months last year to 14 months this year. This indicates a Buyers Market.

Townhomes and Condos:

• Townhome sales were about even with last December and Condo sales were down 40%! Year to date Townhome sales were down 26% and Condo sales were down 22%.
• The average sale prices of a townhome was 5% higher this December at $899,000 and year to date average sale price is down just 1% at $932,000. Condo prices in December were 9% lower at $578,800 and year to date down 2% to $ 618,500.
• The supply of townhomes was 10% higher at years end versus the same time last year at 230 units. Condo supply was 16% higher this year at 1527 units.
• Months of supply for townhomes increased slightly from 6 months to 7 months at years end. Condo months of supply climbed from 5 months last year to 10 months this year.

The above numbers are just averages and numbers for the whole Westside. For an accurate assessment of your property it’s important to focus on sales and activity by specific type of properties and in specific neighborhoods.


For a Market Evaluation specific to your home & neighborhood call or email us anytime.  Jill & I bring a wealth of experience & knowledge about what it takes to sell for the highest possible price & negotiate the best deal when buying.

We look forward to hearing from you soon.

Andrew & Jill Hasman

Andrew Hasman Remax

We continued to slow sluggish sales activity on the Westside during November. That being said there is some promising news. The number of homes on the market at the end of November has dropped substantially since peaking in mid-September. I have also noticed a lot more calls on our listed properties combining with more viewings too. Even though sales volumes continue to remain well below last year’s levels, the shrinking supply and stable sales volume over the past 6 months points to a stable market moving forward. In fact, I’m going to go out on a limb and predict a robust Winter Market with brisk activity in January & February.

For home owners thinking about selling in 2013, keep in mind if you list your home in March ( based on the last 4 years of sales activity) you missed the best time for selling. Home owners that listed their homes just before Chinese New Year achieved the highest selling prices. The period of Late January to end of the February was the busiest time for housing sales the last 4 years. Why should this year be any different? I do not see any housing crash or even much more downside to house prices. Prices have already slipped 10-15% in some cases and I feel that is as far as it will go.

Too many home owners and buyers try to time the market. I would suggest either buying or selling when the timing is personally right for you.

Here’s how the numbers look from November:

Single Family Homes:

- Home sales in November were down 36% versus November 2011 from 121 units to 77 units. Year to date home sales are down 37%
- The average selling price of a home was down 6% this November verses last Year. Year to date the average selling price is 1% higher to $ 2,425,576.
- The supply of homes is 20% higher at 846 units at November 30^th this year verses 705 last year. At month end the month’s supply now sits at 11 compared with 5.8 months a year ago.

Townhomes and Condos:

- Townhome sales fell 16^% and Condo sales fell 33% this November verses last November. Year to date Townhome sales are down 27% and Condo sales are down 21%.
- The average sale price of a town home was even with last November ( $ 870,000) and year to date is also even ( $ 940,000). Condo prices were 3% higher this November verses last year and year to date condo prices are 1% lower to sit at $ 620,000.
- The supply of townhomes is 7% higher this year verses the same time last year and condo supply is 12% higher

Overall the market looks pretty stable. I am finding that well priced properties are still commanding attention and are selling quickly. If you remove all the “Overpriced Properties” from the market place, there is still demand in the market place.

If you would like an assessment of your home or investment property I am always available to provide my professional opinion.

Wishing you and your family the very best of the season and Happy New Year

Andrew & Jill Hasman

As expected in any Fall market, October home sales saw an increase in units sales from September. The overall picture ( even though the market is soft ) is relatively stable. The number of homes on the market has now fallen below 1000 units resulting in the Months of Supply now less than 10. One month ago we were hovering around 13 month’s supply. Overall activity is still down from last year but the numbers in October showed the declines are slightly decreasing telling me there is no market crash in sight. The biggest prices reductions have been on the properties that saw the huge bump up in market prices. The more affordable end of the market while softer than one year ago has seen much lesser price adjustments to the down side.

The way I see it, it’s a great time to buy with very few ( if any ) competing offers. Buyers have time to make decisions, they have selection , they have rock bottom interest rates and they have lower prices. Why buy when the market is over heated and prices are being pushed higher. This is the best time to buy. If you ask most buyers they are waiting for prices to go lower. “Just let me know when the market has hit bottom and I will jump in too!” Not so easy to predict!

Here is how the numbers stack up for October:

Westside Single family homes:

-          During the month of October there were 104 homes sold verses 120 in October 2011. A decrease of 13%. Year to date home sales are down 38% from 1803 units to 1117 units.

-          The average selling price of a home was Up 6% in October to $ 2,510,313. Year to date the average selling price is Up 2% to $ 2,441,793.

-          There were 226 homes listed for sale in October verses 296 last year. A decline of 23%. At month end the supply of homes was 960 units verses 827 last year, an increase of 16%

-          The Months of Supply has fallen from over 12 last month to 9.23 months at the end of October. Last year we had 6.89 months of supply.

Westside Townhomes & Condos:

-          Townhome sales rose by 8% and condo sales fell by 19% this October verses last year. The year to date sales show town homes down by 28% and condos down by 20%

-          The average selling price is almost even this October verses last year and year to date selling prices are also virtually even.

-          The supply of townhomes was 17% higher and Condo supply was 10% higher than last October 31^st.

-          The Months of supply tells a stable market for townhomes with just over 6 months and that’s the same as last year. Condos have climbed from 5.7 months to 7.9 months this year.

If you are interested to know the market value of your home or just a general overview of the market conditions please call upon us at any time. We welcome your calls.

Yours Truly,

Andrew & Jill Hasman

After several months of slowing sales and increasing supply the new media have made it official.

That Vancouver’s Housing Market is now officially slowing and it’s a “Buyer’s Market”. The media always seem to be somewhat behind what is really happening on the front lines  It’s always best to speak with the REALTOR® active in your neighborhood to get a real handle on what’s happening specific to your house market.

September sales activity (on the Westside) continues to remain at levels not seen since the late 1990’s. We now have over 12 month’s housing supply and home prices were down (on average 6% ) in September this year’s verses last year.

This all being said, a correctly priced home that presents well will still attract offers and a sale within 30 days. There’s a lot of supply and choice for buyers right now. It’s critical for sellers to make their home stand out from the crowd. Pricing and Presentation is now more important than ever.
Here’s how the numbers stack up:

Westside Single Family Homes:

• During the month of September there were 86 homes sold compared to 104 last September. Year to date the sales are down by 39% from 1683 homes sold in 2011 to 1013 sold this year.
• The average selling price of a home was down 6% this September verses last year to $ 2,259,214. Year to date the average selling price is up 2% to $ 2,434,759.
• There were 1044 homes listed for sale at September 30th this year verses 823 one year ago. That’s an increase of 26%.
• Months of supply has climbed from 7.91 last year to 12.13 this year. We are very much in a Buyer’s Market.

Townhomes and Condos:

• During the month of September townhome sales fell by 32% and Condo sales fell by 33%. Year to date Townhome sales are down 31% and Condo sales are down 20%.
• The average selling price of a townhome was down 24% to $ 749,668 in September. Condo prices are even with last year. Year to date the average selling price of a townhome is even at $ 940,634 and condos are down 2% to $ 6254,144.
• The supply of townhomes has climbed by 19% from one year ago. Condo supply is up just 9%
• Months of supply of townhomes is 10.11 verses 5.69 one year ago. For condos, we have climbed from 6.21 months last year to 10.16 this year.

Is Your Home Market Ready?

If you are thinking of placing your home on the market this Fall, remember, First Impressions are everything. Jill and I would be pleased to drop by, meet with you and suggest what you can do to increase not only the saleability of your home but also its Market value. So many of our suggestions are typically simple changes or repairs well worth the effort.

A poorly staged home with outstanding deficiencies will always sell for less and take longer to sell that the well prepared home.

Don’t sell yourself short. Call us today! We can easily be reached on our mobile at 604-657-7936 or via email at
Andrew@andrewhasman.com.



Andrew Hasman

August was stable compared to July in that the supply of houses relative the the actual sales remained fairly stable. The one notable statistic was the Average sale price of a house. In August the average was pulled higher by 14% over the 2011 average sale price. This increase is due to two very large sales on the Westside during the month. Of the 75 houses sold, there were two sales over $ 12 million which have brought the average sale price up. Another interesting statistic is the drop in supply from Aug 31st to Sept 1st of approximately 60 houses. For the first time in several months we have under 1000 houses for sale but I predict this number to quickly move up as more homes enter the market in time for the Fall. In the past three weeks I personally noticed a pick-up in the number of buyers looking at houses and the number of offers received. So far we have not seen this translate into increased house sales. With September upon us it will be a matter of time before we see if our market will see increased sales activity or not. Stay tuned!

Here’s how the numbers stack up for Westside Real Estate Activity in August:

Single Family Homes

• During the month of August there were 75 homes sold compared to 130 last August and 83 one month ago. Year to date house sales are down 41%
• Average selling price of a house was up 14% from last August to $ 2,859,945. I believe this increase is due to two homes sold over $ 12 million during the month. This has no doubt pulled up the average. Year to date the average sale price is up 2% to $ 2,451,044.
• There were 995 homes listed for sale at Aug 31st this year compared to 643 one year ago. An increase of 54%
• At August 31st we have 13 month’s supply versus 5 month’s 1 year ago.

Townhomes and Condos

• During the month of August Townhome sales were down 29% from last year and condo sales were down 26%. Year to date sales are down 31 and 19% respectively.
• The average selling price of a townhome is down 4% and condo prices are even compared to last August. Year to date average sale prices are almost even with a townhome selling for $ 958,131 and a condo $ 621,379.
• The supply of townhomes and condos has risen 28% and 13% respectively.
• There are 8 month’s supply of townhomes and 8.5 month’s supply of condos at the end of August.
• Greater Vancouver ( All Real Estate Sales)
• Sales of all Single Family Houses in all Vancouver areas was down 39% from this August compared to last August. Year to date sales are down 28%
• Average sale price year to date is down 5% to $ 1,120,411 with 12.6 month’s supply of houses available compared to 6 month’s supply 1 year ago

Is Your Home Market Ready?

If you are thinking of placing your home on the market this Fall, remember, First Impressions are everything. Jill and I would be pleased to drop by, meet with you and suggest what you can do to increase not only the saleability of your home but also its Market value. So many of our suggestions are typically simple changes or repairs well worth the effort.

A poorly staged home with outstanding deficiencies will always sell for less and take longer to sell that the well prepared home.

Don’t sell yourself short. Call us today! We can easily be reached on our mobile at 604-657-7936 or via email at Andrew@andrewhasman.com.

Have a Great Autumn!

Andrew & Jill Hasman

As expected ( after four months of declining  sales ) the Summer market continues to chug along with
house sales at levels not seen since 2009. There are now 12.5 month’s supply of houses for sale on the Westside which technically puts us in a Buyer’s Market. This is quite a change from where we were one year ago when we had 4.5 month’s supply. I expect the level of homes on the market to remain stable though August with sales hovering around 70 to 90 sales for the month.

September and October typically bring an increase in demand but also an increase in inventory. This year may see many home owners de list their properties not willing to sell at prices the market is willing to pay. If this is the case we should see inventory levels remain stable.

On Vancouver’s Westside home prices continue to be far out of line with economic fundamentals meaning we have become fully reliable on foreign buyers supporting our current price levels. If we continue to see an absence of these buyers then prices ( in my opinion) will trend lower. You only have to look at the High End of the market above $ 3 million and there is a glut of homes for sale. Where have all the buyers gone?

Here’s how the numbers stack up for Vancouver’s Westside:

Single Family Homes:
-    During the month of July there were 83 homes sold versus 139 one year ago. A decline of 40%. Year to date home sales are down by 41% compared to 2011.
-    Average selling price of a home was $ 2,397,045 almost unchanged from 1 year ago. Year to date the average sale price is also even with last year at $ 2,415,050.
-    There were 1038 homes listed for sale at July 31st this year compared to 632 1 year ago. That is an increase of 64%
-    There were 12.5 month’s supply of houses at July 31st versus 4.5 month’s one year ago.

Townhomes and Condos:
-    Townhomes sales fell 25% and Condo sales fell 19% from this July compared to July 2011. Year to date sales are down 31% for Townhomes and 18% for condos.
-    The average sale price of a towmhome is 9% below last July and Condo prices were down 7%. Year to date prices of both townhomes and condo are almost even.
-    The inventory of townhomes has risen by 27% from 266 units to 340 units and condo supply has climbed 16% from 1941 to 2260 units.
-    There are now 7.4 month’s supply of townhomes versus 4.3 month’s a year ago. Condo supply has climbed from 5.7 month’s to 8.2 month’s last year.

Greater Vancouver Real Estate Market ( single family houses)
-     Sales of all detached properties on MLS in July fell 28% from 1101 units last July to 790 units this year.  Year to date sales are down 26%.
-    Average selling price has fallen by 8% from $ 1,133,357 to $ 1,041,325.
-    The supply of houses has increased by 24% and the month’s of supply has increased from  5.8 to 10 month’s this year.

Overall our market seems to be gradually cooling . That being said, it is summer and this is probably what a “Normal Summer” market should feel like. For most Vancouverites this market feels slow but remember so many of the past years we have had booming conditions. A Booming market is only sustainable for so long.


If you are looking to know the market value of your home or have any general real estate questions I am always available to be of service. Please call me anytime at 604-657-7936 or email me at Andrew@andrewhasman.com
Have a great summer


Andrew Hasman

This feels like the first Normal Real Estate market in many years. That is if you can even define or remember what “ Normal “ really feels like. Gone are the bidding wars and gone ( for now ) are the days when homes were selling in mere days. For buyers there is now good selection and no pressure to make that big commitment. For home owners trying to sell, patience is required and making sure you list your home at 2012 price levels which may be 5 to 10% below where they were a year ago. This all being said, when you price your home correctly we are seeing buyers show up with offers.

Sales of home across the Greater area of Vancouver are at levels not seen since 2000! Overall, prices still seem to be holding with some price softening in specific markets only. Vancouver’s Westside looks to be one of those markets. Fewer buyers from China, tougher mortgage regulations and concerns over the global economy are all weighing on consumer confidence. I predict these market conditions will continue through the balance of 2012 with further price softening.

Here’s how the numbers stack up on the Westside:                     

Single Family Homes:

-          During the month of June there were 102 homes sold ( slowest sales since Jan 2012) versus 213 one year ago. A decline of 52%. Year to dates house sales are off 41%.

-          Average selling price of a house was $ 2,401,547 which represents a 2% decline from June 2011 and an increase of 2% year to date.

-          There were 1078 homes listed for sale at June 30^th versus 603 last year. An increase of 78%

-          There were 10.5 month’s supply at June 30^th versus 2.8 month’s last year. This is considered a buyer’s market.

Townhomes and Condos:

-          During the month of June there were 34% few townhome sales and 11% fewer condo sales compared to last year. Year to date townhome sales are 32% lower and condo sales are 18% lower.

-          The average price of a townhome sold was 17% higher this June versus last and condo prices were 4% lower. Year to date townhome prices are 4% higher and condo prices are 1% lower.

-          There were 25% more townhomes listed for sale at June 30^th this year versus 1 year ago. Condo listings were 22% higher this year versus last year.

-          There were 7.8 month’s supply of townhomes this year versus 4.2 month’s last year. Condos were 7 month’s supply this year versus 5 month’s supply last year.

In the past three years the houses saw most of the run up in prices with huge demand from Immigrant buyers. It’s now this market that seems to be experiencing the most price softening . The Condo and Townhome market while softer is seeing more balanced conditions.

For a more comprehensive market update specific to your neighbourhood  call me anytime to schedule an appointment,

Yours Truly,

Andrew Hasman

Typically in most years our Real Estate Market sees an acceleration of real estate activity in March over February. This year we saw sales actually cool in March with sales of detached properties down from 177 units in February to just 152 units in March. That’s a decrease in sales activity of 14%.

This cooling trend ( in my opinion ) looks to be caused by a decrease in the number of Immigrant buyers in the market place. Last year saw a huge influx of buyers from Mainland China. This year it feels like there are far fewer of these buyers out there. If we take the Immigrant buyers out of the market place on the Westside, there seems to be very few local buyers chasing homes listed for sale above $ 2.5 million.

The supply of homes seems to be creeping higher with the number of homes up about 10% from last month to 854 units. We are far above last year’s inventory levels when we saw just 525 homes for sale at the end of March. From one year ago there are 62% more homes on the market on Vancouver’s West Side.

Based on the Inventory of Houses compared to the number of sales we have 5.62 month’s supply home homes for sale. This compares to just 1.88 month’s supply a year ago. Market Conditions have gone from a Seller’s Market last year to a Balanced Market this year.

Compared to last year the market feels slow. 

The condo and townhome market is also experiencing a slow down with market conditions in a Balanced State.

Here is how the specific numbers stack up:

Vancouver Westside Detached

-          In March 2012 there were 152 home sold versus 270 last year. Sales are down 45% !
Year to dates house sales are down from 655 units last year to 415 this year. A decline of 36%

-          As at March 31^st there were 854 homes for sale compared to 525 a year ago. An increase of 62%

-          There were 5.62 months supply at March 31^st versus 1.88 months supply last year.

Vancouver Westside Attached ( Condos & Townhomes)

-          Town Home sales were down 38% and Condo sales were down 32% in March 2012 versus March 2011

-          Year to date sales of Town homes are down 35% and condos are down 23%

-          As at March 31^st there were 21% more town homes and 11% more condos listed for sale versus 1 year ago

-          There were 5.72 month’s supply as at March 31^st this year versus 2.88 months last year of town homes

-          There were 4.8 month’s supply as at March 31^st this year versus 2.92 months last year of condos.

-          Both the Condo and Townhome markets remain balanced and not nearly as affected by the decline of Immigrant Buyers

It looks as though 2012 is going to be a year where we see the Real Estate Market on the Westside drift along in a sideways pattern. If sales continue to stay soft and supply continues to grow we could see prices begin to soften. That being said, in certain pockets of the Westside certain homes in specific neighborhoods still sell quickly ( many with multiple offers ) over the asking price. Building Lots, Lot Value properties still appear to be properties in the highest demand.  Homes in Kitsilano, Douglas Park, Mackenzie Hts, Point Grey and Dunbar priced under $ 2 million are still in high demand.

If you have any questions about the Real Estate Market, would like a complimentary market update or simply have any comments, I am always available to be of assistance. I will always respond  ( quickly )to direct calls to my mobile at 604-657-7936 or via email.

Happy Spring to All

Andrew Hasman