Vancouver Real Estate board overall
Single family houses sales for February totalled 707 with the average sale price of $1,221,037. This 35% decrease in number of sales and no change in average price over last year same time period (February) . Townhouse sales for February totalled 333 with an average sale price of $549,793. This is a 21% decrease in the number of sales and an decrease of 1% in average price over the same time period last year (February). Condominiums February sales totalled 760 with the average sale price of $426,276. This a 25% decrease in number of sales and 6% decrease in average price over the same time period last year (February).
Total of all types for February was 1800 sales with an average sale price of $761,291. This is a 29% decrease in number of sales and a 5% decrease in average price over February last year.
The total number of sales ran about 29% below the same month in the previous year with minimal change in average price in single family and 1% decrease in townhouses and a 6% decrease in condos. The Vancouver Real Estate Board sales volume year to date is down by 23% year to date and year to date average sales price is down by 3%. The number of active listings is 7% higher this February compared to last February.
Home sale activity has now trended below historical averages for a full year in the Greater Vancouver housing market, with price decreases in the 5% range.
Local Maple Ridge
Single family houses February sales totalled 53 with the average sale price of $499,534. This a 6% decrease in number of sales and average price increase of 1% compared to February last year. Townhouse February sales totalled 19 with an average sale price $281,536. This is a 32% decrease in the number of sales and average price is virtually unchanged compared to last February. Condominiums February sales totalled 13 with the average sale price of $197,848. This is an 18% increase in number of sales and average price virtually unchanged over last February.
Total of all types of sales for February was 85 with an average sale price of $404,665. This is a 33% decrease in number of sales and a 3% decrease in average price over last February.
Low volume of sales will continue to put downward pressure on prices.
The number of properties on the market in Maple Ridge for February is 872 which is 1% below last February.
The Real Estate Board of Greater Vancouver Housing Market Update for January 2013 with REBGV president Eugen Klein video link. Click below.
For more detail just call 604-466-4549 or email
We spend so much time at work so it's important to incorporate the same green practices at the office that we use at home. Here are a few ways you can enjoy a greener workspace:
When it comes to the environment, every little bit helps. You may need to start some of these initiatives yourself but it will be worth it. If you want to help the environment while improving your quality of life, why not investigate working from home? Today's technology makes it easy to do and a very viable option!
There are a number of different occassions when you should give us a call in regards to the real estate market or mortgage rates.
1/ When you are planning to move, either selling, buying or both. We sit down with you and review the market, sales of comparable homes and give you a complete breakdown of all costs so you can make a sound financial decision.
2/ When financial planning and you require value of you property for net worth, etc.
3/ When friends and aquaintances are considering a move. By calling us you know that they will be well looked after with their interests represented and we will send you a little something for thinking of us.
4/ When renewing your mortgage or refinancing - give us a call to see what competitive rates are out there. Banks often just send you a form in the mail and ask you to select the term and rate and send it back. It never hurts to compare and you can use that information to ensure your bank gives you the best rate available.
5/When you get your tax assessment notice early in January. You have until the end of January to appeal the assessment. We will determine if your assessment is correct and assist in appealing the assessment if it is too high, including going before the appeal board.
All these services are at no charge so please don't hesitate to call. We always enjoy hearing from you.
It's always good to be aware of the latest home trends especially if you're thinking about ways to make your home more desirable to buyers. Here are five of the top trends for 2013:
The above trends are a result of both innovative technology and a desire to simplify our lives. Hopefully these ideas have sparked your creativity or at least given you some food for thought, especially if you're looking for ways to make your home more appealing to buyers when the time comes to sell.
Traditionally the strongest market in the year is the "spring market" . This would be from mid February to late June depending on the year. People want to sell or buy and be moved before summer vacation with kids out of school or so they can relax and enjoy their vacation. The second busiest time is the "fall market" , usually from September 1st to mid or late November. These are the buyers and sellers wanting to get moved by year end and the Christmas season. It is not as busy as the "spring market" . The months of July and August are often quiet as people are enjoying the sunshine and summer. The months of December and January are the quietest of the year with the holiday season and cold rainy winter.
Our market is Maple Ridge and Pitt Meadows has not changed much in the last 3-4 years. This last 12 months we have seen the number of sales drop substantially (20-25%) but prices have only decreased about 5%. More expensive properties have likely decreased a little more but our market is holding up well.
With more downward price pressure on expensive property it is a very good time to consider moving up. For example if you were selling for $400,000 and buying for $500,000 the increase was $100,000. If prices have dropped 5% then the $400,000 house is now $380,000 and the $500,000 house is now $475,000 and the difference is now $95,000. The more expensive purchase may have decreased 6-7% in price also.
Anytime to sell and buy is fine as long as you do so in the same market. You do not want to sell and rent in anticipation of declining prices only to have the market suddenly change, prices increase and consume a portion of your equity.
Interest rates are still at historic lows. I saw a mortgage broker today advertising 2.75% for a 5 year term mortgage. This means a $300,000 mortgage has payments of $1382 per month.
Smartphone bills can really throw you for a loop, especially if you exceed your monthly data allowance! Here are a few data diet tips that will help slim down your bill:
With today's technology, it's easy to get carried away watching movies or playing 3D games that chew up data and leave you with a cell phone bill that's hard to swallow. The tips above should help you avoid any unpleasant surprises.