July 2015

Vacation home considerations

Posted on Jul 15, 2015 in Recreational Properties

If you are thinking of buying a BC vacation property here are some things to be aware of.

provincial property transfer tax
The Property Transfer Tax (PTT) is charged whether you buy undeveloped land, a second home, a strata property or fractional ownership.

Even if you have never owned a home before, you won't qualify for the First Time Home Buyers' E...

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home sale spin-offs

Posted on Jul 13, 2015 in BC Market Update

Every MLS® transaction generates spin-offs, creates jobs and keeps our communities growing.

How much does this amount to?
In BC, a single home sale generates $64,500 in economic spin-offs and 0.48 jobs, according to the Canadian Real Estate Association.

Last year, 33,116 properties were sold by REALTORS® on the MLS® system, generating $2,136 billion i...

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competition for homes today

Posted on Jul 10, 2015

Last month was the highest selling June and second highest monthly total on record for the Real Estate Board of Greater Vancouver.

There were 4, 375 sales on our MLS® last month.  This is up 28% compared to last year and nearly 30% above the 10 Year June Average.

June also marked the fourth consecutive month that sales surpassed 4,000 in the region. T...

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conditions in sellers' favor

Posted on Jul 09, 2015 in North Vancouver Strata

It is a seller's market when sales are more than 20% of overall inventory over a sustained period.  In North Vancouver that figure was 87% in June for North Vancouver townhomes, 35% apartments and 58% for detached homes.

Since the beginning of the year the monthly sales-to-active listings ratio trend for North Vancouver: 
  • townhomes has been 22% in Janu...

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improved numbers

Posted on Jul 07, 2015 in West Vancouver Strata

To help better understand the strength of West Vancouver's condominium (apartment) market we measure the condominium buyer demand fueled by condominium sales against condominium seller supply fueled by the number of condominium listings. This measurement in June gave us a sales-to-active listing ratio of 17% for West Vancouver condominiums. Over th...

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'Up' cycle

Posted on Jul 06, 2015 in North Vancouver Strata

Real estate market activity comes in cycles and as 2015 continues to unfold, all North Vancouver housing types, detached homes, apartments and townhomes are experiencing an 'up' cycle.

The past 5 months NV monthly apartment sale totals have almost doubled NV's Ten Year Monthly Sale Average of 77:
57 - January
94 - February
141 - March
109 - April
122 - M...

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