There are 4115 Homes, condos, apartments and town homes for sale on the MLS in Vancouver and Burnaby, today Saturday September 4, 2010

Friday March 15, 2010

“Steady Growth”

Greater Vancouver Real Estate The Greater Vancouver housing market continued to experience strong demand from homebuyers and an increase in total property listings in a month where the eyes of the world were focused on the region. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,473 in February 2010, an increase of 67.1 per cent compared to February 2009 when 1,480 sales were recorded and a 28.6 per cent increase compared to the 1,923 sales recorded in January 2010. “We don’t know at this point what long-term impact the Olympics will have on our housing market, but we do know that activity remained steady through all of the excitement and distraction of the last few weeks,” Scott Russell, REBGV president said. “In February, for example, 110 sales were recorded on the MLS® in downtown Vancouver. That’s higher than 2009 and slightly lower than the mid-2000s, which is consistent with data from the overall market. It’s too soon to say whether that’s an Olympic effect,” Russell said.

Burnaby Real Estate – While Vancouver Real Estate is at its premium, the Burnaby market continues to rise to its potential; with the Brentwood region rapidly expanding, easy skytrain access and the cities plans to designate areas towards urban paths and office space –it is no wonder Burnaby is considered by many to be one of the region’s most up and coming areas. The number of detached sales in Burnaby grew by 63.8% from 47 homes sold in 2008 to 77 this year. Attached homes also climbed by 34.7%, 62 homes sold in comparison to the 48 the previous year. The most notable sales were apartments, which went up by 106% from the previous year, further driving development to the area.

Tip for the month

Real Estate laws and regulations are continually changing and while you can try to keep up with all of them, missing one may be an expense you cannot afford to bare. If you do not want to risk overlooking ways to save yourself money, use an experienced realtor who is reliable and whose full time job it is to make sure you get the most out of your investment.

Greater Vancouver Real Estate Stats for February 2010:

*All figures set against February 2009

Detached Sales

Vancouver West: Up by 30% (from 100 units sold to 130)

Vancouver East: Up by 57.6% (from 92 units sold to 145)

Attached Sales

Vancouver West: Up by 46% (from 37 units sold to 54)

Vancouver East: Up by 111 % (from 17 units sold to 36)

Apartment Sales

Vancouver West: Up by 36.6 % (from 245 units sold to 342)

Vancouver East: Up by 89.8% (from 59 units sold to 112)

NOTE: The MLSLink Housing Price Index® (HPI) calculates benchmark prices, which represents a typical property within a market. The HPI takes into consideration what averages and medians do not - the price of housing features such as lot size, age, number of rooms, ect. These \'typical house\' in a given area. Each month\'s sales determine the current prices paid for bedrooms, bathrooms, fireplaces, ect. and apply those new values to the typical house model. The HPI measures typical, pure price change (inflation or deflation).

For more information and a free market - analysis please call Italo Fionda