* Update hardware, faucets, sinks, grout in kitchens & bathrooms.

* Paint throughout with neutral colours. A blank slate is best.
* Declutter & Depersonalize. Put excess furniture in storage.
* Add Fresh Flowers.
* Use double beds instead of queens and kings.
* Never cook a meal before a showing. 
* Increase wattage in lightbulbs. Brighten up your rooms. Add lamps to eliminate dark spaces. 
* Glass tables make rooms appear larger.


Sell your homes faster with these Real Estate tips. 

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Steady trends continue in the Greater Vancouver housing market

 

VANCOUVER, B.C. – February 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 per cent decline compared to the 1,953 sales in December 2013.

 

Last month’s sales were 7.2 per cent 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 per cent increase compared to the 5,128 new listings reported in January 2013.

 

Last month’s new listing count was 17.7 per cent 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 per cent decline compared to January 2013 and a nine per cent 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 per cent increase compared to January

2013.

 

With the sales-to-active-listings ratio at 14 per cent, 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 per cent from the 542 detached sales recorded in January 2013, and a 10.5 per cent increase from the 659 units sold in January 2012. The benchmark price for a detached property in Greater Vancouver increased 3.2 per cent from January 2013 to $929,700.

 

Sales of apartment properties reached 753 in January 2014, an increase of 30.7 per cent compared to the 576 sales in January 2013, and an increase of 14.6 per cent compared to the 657 sales in January 2012. The benchmark price of an apartment property increased 3.7 per cent from January 2013 to $371,500.

 

Attached property sales in January 2014 totalled 279, an increase of 19.7 per cent compared to the 233 sales in January 2013, and a 6.9 per cent increase from the 261 attached properties sold in January 2012. The benchmark price of an attached unit increased 1.7 per cent between January 2013 and 2014 to $457,700.

 

Take a look at the latest Greater Vancouver Real Estate Statistics for our local market, by following the link below, and call me to discuss how this information is used for buying and selling homes in your specific neighbourhood. You can reach me directly at 604.715.3900 or email me at judy@judysehling.com. If you would like to receive this information monthly to your inbox, subscribe to my Newsletter.



Download the full Real Estate Statistics by clicking here. 

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July home sale activity increases in Greater Vancouver

 

Vancouver, B.C. - Aug. 02, 2013: The latest Greater Vancouver Real Estate Statistics for Home Sales in the Vancouver market area are available. This information is produced by the Greater Vancouver Real Estate Board.

 

Sunny weather did not slow the pace of home sale activity in July. Last month was the highest selling month of the year in Greater Vancouver and the highest selling July since 2009.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,946 on the Multiple Listing Service® (MLS®) in July 2013. This represents a 40.4 per cent increase compared to the 2,098 sales recorded in July 2012, and an 11.5 per cent increase compared to the 2,642 sales in June 2013.

 

Last month’s sales were 0.1 per cent above the 10-year sales average for the month.

“Demand has strengthened in our market in the last few months, which can, in part, be attributed to pent-up demand from the slowdown in sales activity we saw at the end of last year,” Sandra Wyant, REBGV president said. 

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,854 in July. This represents a 1.1 per cent increase compared to the 4,802 new listings reported in July 2012 and a 0.4 per cent decline from the 4,874 new listings in June of this year.

 

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 16,618, which is an 8.1 per cent decrease compared to July 2012 and a 3.9 per cent decline from June 2013.

 

The sales-to-active-listings ratio rose two and-a-half percentage points between June and July to 17.7 per cent in Greater Vancouver. This is the highest this ratio has been in Greater Vancouver since April 2012.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,900. This represents a decline of 2.3 per cent compared to this time last year and an increase of 2.3 per cent over the last six months.

 

“Home prices continue to experience considerable stability with minimal fluctuation throughout much of this year,” Wyant said. “This stability in price brings greater certainty to the home buying and selling process.”

 

Sales of detached properties reached 1,249 in July 2013, an increase of 59 per cent from the 787 detached sales recorded in July 2012, and a 13.7 per cent increase from the 1,099 units sold in July 2011. The benchmark price for detached properties decreased 3.1 per cent from July 2012 to $920,500.

 

Sales of apartment properties reached 1,210 in July 2013, an increase of 31 per cent compared to the 927 sales in July 2012, and an increase of 16.3 per cent compared to the 1,040 sales in July 2011. The benchmark price of an apartment property decreased 1.6 per cent from July 2012 to $368,300.

 

Attached property sales in July 2013 totalled 487, an increase of 27 per cent compared to the 384 sales in July 2012, and a 12.7 per cent increase from the 432 attached properties sold in July 2011. The benchmark price of an attached unit decreased 2.6 per cent between July 2012 and 2013 to $456,700. 

 

Take a look at the latest Greater Vancouver Real Estate Statistics for our local market, by following the link below, and call me to discuss how this information is used for buying and selling homes in your specific neighbourhood. You can reach me directly at 604.715.3900 or email me at judy@judysehling.com. If you would like to receive this information monthly to your inbox, subscribe to my Newsletter.


Download the complete stats package by clicking here. 

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Spring months bring balance to Greater Vancouver housing market


Vancouver, B.C. - June 04, 2013: The latest Greater Vancouver Real Estate Statistics for Home Sales in the Vancouver market area are available. This information is produced by the Greater Vancouver Real Estate Board.

“While the number of home sales in Greater Vancouver continued to trend below the 10-year average in May, the balance of sales and listings meant continued market stability this spring.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,882 on the Multiple Listing Service® (MLS®) in May 2013. This represents a one per cent increase compared to the 2,853 sales recorded in May 2012, and a 9.7 per cent increase compared to the 2,627 sales in April 2013.

 

Last month’s sales were 19.4 per cent below the 10-year sales average for the month, while new listings for the month were 7.4 percent below the 10-year average.

 

“We’ve seen some steadying trends over the last three months,” Sandra Wyant, REBGV president said. “The number of homes listed for sale has been keeping pace with the number of property sales, leading to a balanced sales-to-listings ratio. This is having a stabilizing influence on home price activity.”

 

Sales of detached properties reached 1,212 in May 2013, an increase of 2.7 per cent from the 1,180 detached sales recorded in May 2012, and a 22.8 per cent decrease from the 1,570 units sold in May 2011. The benchmark price for detached properties decreased 5.2 per cent from May 2012 to $917,200.

 

Sales of apartment properties reached 1,136 in May 2013, a decline of 1.7 per cent compared to the 1,156 sales in May 2012, and a decrease of 7.5 per cent compared to the 1,228 sales in May 2011. The benchmark price of an apartment property decreased 3.7 per cent from May 2012 to $365,600.

 

Attached property sales in May 2013 totalled 534, an increase of 3.3 per cent compared to the 517 sales in May 2012, and a 7.8 per cent decrease from the 579 attached properties sold in May 2011. The benchmark price of an attached unit decreased 3.2 per cent between May 2012 and 2013 to $454,900.”

 

Take a look at the latest Greater Vancouver Real Estate Statistics for our local market, by following the link below, and call me to discuss how this information is used for buying and selling homes in your specific neighbourhood. You can reach me directly at 604.715.3900 or email me at judy@judysehling.com. If you would like to receive this information monthly to your inbox, subscribe to my Newsletter.

 

See the full Real Estate Statistics Package for the month of May 2013

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The latest Greater Vancouver Real Estate Statistics for Home Sales in the Vancouver market area are available. This information is produced by the Greater Vancouver Real Estate Board.

 

VANCOUVER, B.C. – April 3, 2013 – Lower levels of both supply and demand in recent months are holding home prices in check in the Greater Vancouver housing market.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,347 on the Multiple Listing Service® (MLS®) in March 2013.

 

This represents an 18.3 per cent decrease compared to the 2,874 sales recorded in March 2012, and a 30.6 per cent increase compared to the 1,797 sales in February 2013.

 

“While home sales were below what’s typical for March, we are seeing more balance between the number of sales and listings on the market in the last two months, which is having a stabilizing impact on home prices,” Sandra Wyant, REBGV president said.

 

The sales-to-active-listings ratio currently sits at 15.2 per cent in Greater Vancouver, a three per cent increase from last month. This is the first time this ratio has been above 15 per cent since May 2012.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,839 in March. This represents a 17.2 per cent decline compared to the 5,843 new listings reported in March 2012 and a 0.1 per cent increase from the 4,833 new listings in February of this year. Last month’s new listing count was 14.4 per cent below the region’s 10-year new listing average for the month.

 

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 15,460, a 1.5 per cent increase compared to March 2012 and a 4.5 per cent increase compared to February 2013.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $593,100. This represents a decline of 3.9 per cent compared to this time last year and an increase of 0.9 per cent compared to January 2013.

 

April 1 marked the return of the GST and PST tax structure in the province. From a real estate perspective, it’s important to remember that:

 

• sales tax on a new home is reduced to 5 per cent GST plus 2 per cent BC Transition Tax (total 7 per cent) from 12 per cent under the HST; and

• tax on real estate commissions has been reduced to 5 per cent from 12 per cent under the HST.

 

These reduced tax rates apply to transactions payable on or after April 1.

 

Take a look at the latest Greater Vancouver Real Estate Statistics for our local market, by following the link below, and call me to discuss how this information is used for buying and selling homes in your specific neighbourhood. You can reach me directly at 604.715.3900 or email me at judy@judysehling.com. If you would like to receive this information monthly to your inbox, subscribe to my Newsletter.

 

See the full Real Estate Statistics Package for the month of March 2013








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The latest Greater Vancouver Real Estate Statistics for Home Sales in the Vancouver market area are available.  This information is produced by the Greater Vancouver Real Estate Board.

 

Home sale activity has trended below historical averages for a full year in the Greater Vancouver housing market.

 

 “Sales in February followed recent trends and were below seasonal averages, though our members tell us they saw more traffic at open houses last month compared to the previous six to eight months, said Eugen Klein, REBGV president.

 

The sales-to-active-listings ratio currently sits at 12.2 per cent in Greater Vancouver, a two per cent increase from last month. This is the first time this ratio has been above 11 per cent since June 2012.

 

“With a two-point increase in our sales to active listings ratio and a reduction in the average number of days it’s taking to sell a home, February showed some subtle indications of a changing sentiment in the marketplace compared to recent months,” Klein said.

 

The total number of properties currently listed for sale on the Greater Vancouver MLS® is 14,789, a 5.2 per cent increase compared to February 2012 and an 11.6 per cent increase compared to January 2013.

 

Sales of detached properties in February 2013 reached 704, a decrease of 36.1 per cent from the 1,101 detached sales recorded in February 2012, and a 49.8 per cent decrease from the 1,402 units sold in February 2011. The benchmark price for detached properties decreased 4.5 per cent from February 2012 to $901,500. Since reaching a peak in May 2012, the benchmark price of a detached property has declined 6.8 per cent.

 

Sales of apartment properties reached 760 in February 2013, a decline of 25.5 per cent compared to the 1,020 sales in February 2012, and a decrease of 37 per cent compared to the 1,206 sales in February 2011. The benchmark price of an apartment property decreased 3 per cent from February 2012 to $360,400. Since reaching a peak in May 2012, the benchmark price of an apartment property has declined 5.1 per cent.

 

 

Take a look at the latest Greater Vancouver Real Estate Statistics for our local market, by following the link below, and call me to discuss how this information is used for buying and selling homes in your specific neighbourhood.  You can reach me directly at 604.715.3900 or email me at judy@judysehling.com.  If you would like to receive this information monthly to your inbox, subscribe to my News Letter.

 

 

See the full Real Estate Statistics Package for the month of February 2013


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The latest Fraser Valley Real Estate Statistics for Home Sales in the Fraser Valley market area are available.  This information is produced by the Fraser Valley Real Estate Board.

 

  

Positive signs Fraser Valley housing market is starting to move.


 

Sales on Fraser Valley’s Multiple Listing Service® (MLS®) in February experienced a typical ‘early spring’ surge, increasing by 48 per cent in one month going from 617 sales in January to 913 last month.

 

Based on February’s increase in activity, Ron Todson, President of the Board, is guardedly optimistic, “We’re seeing signals that the stand-off between buyers and sellers over the last six months is coming to an end.

 

“Business has picked up in the last month with increased traffic at open houses, sellers quicker to accept offers and homes selling on average two weeks faster than they did in January.”

 

Todson adds that tightening inventory has also had an effect, “When buyers see that their selection is diminishing they’re more motivated to act.” The Board posted 2,582 new listings last month, a decrease of 9 per cent compared to the 2,846 posted during February last year pushing the total number of active listings down by 1.6 per cent compared to 2012.

 

“As your REALTOR® will explain, each market is different. Right now, the market for detached homes is balanced in North Delta and Langley. The condo market is brisk in Abbotsford and Central Surrey and townhome sales are steady in North and Central Surrey as well as Cloverdale.

 

“One commonality amongst these areas and property types is greater affordability. What’s not doing well generally anywhere in the Fraser Valley is sales of higher-end homes unless they are priced competitively.”

 

In February, it took on average 49 days to sell a detached home compared to 64 days in January. Townhomes took 60 days on average to sell compared to 72 days the month before and apartments spent an average of 66 days on the market in February compared to 83 days in January.

 

Take a look at the latest Fraser Valley Real Estate Statistics for our local market, by following the link below, and call me to discuss how this information is used for buying and selling homes in your specific neighbourhood.  You can reach me directly at 604.715.3900 or email me at judy@judysehling.com.  If you would like to receive this information monthly to your inbox, subscribe to my News Letter.

 

See the full real estate statistics package for the month of February here.




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B.C. First-Time New Home Buyers' Bonus

The B.C. First-Time New Home Buyers’ Bonus is a one-time payment worth up to $10,000.
 
B.C. residents who are first-time home buyers and who purchase an eligible new home on or after February 21, 2012 and before April 1, 2013 may be eligible for this bonus. 
 

A first-time home buyer is an individual who has never previously owned a primary residence anywhere in the world.

 

A primary residence is generally a house that you own, jointly or otherwise, and that you intend to live in on a permanent basis. You may have more than one place of residence, but you are considered to have only one primary residence.

Qualifications

You may qualify for the bonus if you meet all of the following criteria:
  • You purchase or build an eligible new home in B.C.
  • You and your spouse or common-law law partner are first-time home buyers
  • In the case of multiple buyers of a home, each buyer is a
    first-time home buyer
  • You file a 2011 B.C. resident personal income tax return or, if you move to B.C. after December 31, 2011, you file a 2012 B.C. resident personal tax return (you are not eligible for the bonus if you move to B.C. after December 31, 2012)
  • You are eligible for the B.C. HST New Housing Rebate
  • You intend to live in the home as your primary residence
  • No one else has claimed a bonus for the home

Eligible New Homes

Eligible new homes include:

  • new homes (i.e. newly constructed and substantially renovated homes) that are purchased from a builder
  • owner-built homes

A substantially renovated home is one where all, or substantially all, of the interior of the building has been removed or replaced. Generally, 90% or more of the interior must be renovated to qualify.

Eligible homes include detached houses, semi-detached houses, duplexes and townhouses, residential condominium units, mobile homes and floating homes, and residential units in a cooperative housing corporation.

Newly constructed and substantially renovated homes

The bonus is available for newly constructed and substantially renovated homes in B.C. purchased from a builder, where:

  • a written agreement of purchase and sale is entered into on or after February 21, 2012 and before April 1, 2013, 
  • HST is payable on the purchase, and
  • ownership or possession of the home is transferred before
    April 1, 2013.

Owner-built homes

The bonus is available for new owner-built homes, where:

  • a written agreement of purchase and sale for the land is entered into on or after February 21, 2012, and
  • construction of the home is substantially complete, or the home is occupied, before April 1, 2013.

Bonus Calculation

The bonus is equal to 5% of the purchase price of the home or, in the case of owner-built homes, 5% of the land and construction costs subject to HST.  The maximum bonus is $10,000.

The bonus is reduced based on an individual’s/couple’s net income (line 236 of your income tax return) using the following formula.

  • For single individuals, the bonus is reduced by 20¢ for every dollar in net income over $150,000.  The bonus is reduced to zero at $200,000 income.
  • For couples, the bonus is reduced by 10¢ for every dollar in family net income over $150,000.  The bonus is reduced to zero at $250,000 family net income.

Claiming the Bonus

If you claimed the B.C. HST New Housing Rebate, you can apply for the bonus by completing the Application for the B.C. First-Time New Home Buyers’ Bonus (FIN 520) (PDF).  

If you are married or have a common-law spouse, your spouse must complete the Schedule A – Certificate B.C. First-Time New Home Buyers’ Bonus (FIN 520A) (PDF). In the case of multiple buyers of a new home, the other co-owners must also complete the Schedule A.

Please note: The person who claimed the B.C. HST New Housing Rebate is the person who must complete the Application for the B.C. First-Time New Home Buyers’ Bonus.

Penalty for False Declaration - make sure that you understand the consequences of making a false declaration. If you knowingly make or participate in making a false statement that results in an excess bonus amount, you may be charged an amount equal to double the amount of the bonus (the bonus plus a penalty equal to the bonus amount).

You must file your application for the bonus on or before March 31, 2015.

You will need to provide the following documentation with your application.

  • A copy of your Notice of Assessment of Income Tax for the eligible tax year.
  • A copy of your spouse or common-law partner’s Notice of Assessment for that year.
  • A complete copy of:A copy of the final, signed purchase and sale agreement for your eligible new home, and/or the land, mobile home or floating home.
    • your GST/HST New Housing Rebate Application for Houses Purchased from a Builder (Form GST 190), including the GST 190 British Columbia Rebate Schedule (Form RC7190-BC) or
    • your GST/HST New Housing Rebate Application for Owner-Built Houses (Form GST 191) including the GST 191 British Columbia Rebate Schedule (Form RC7191-BC).
  • A completed and signed Schedule A – Certification of B.C. First-Time New Home Buyers’ Bonus (FIN 520A) for each co-owner and/or your spouse or common-law partner. A completed schedule must be included for your spouse or common-law partner even if he or she is not an owner of the home.

For owner-built homes, you must keep receipts for all construction costs.

The bonus will be issued after all supporting information is received and your claim has been reviewed. If your claim is adjusted or denied, an explanation will be provided in writing (Notice of Determination). 

Appeals

You have the right to appeal:

  • Denied or reduced bonuses
  • Penalties

To appeal, send written notice to the Minister of Finance within 90 days of the date on the Notice of Determination. If sent by mail, the appeal is considered to have been received by the ministry on the day it was mailed. A separate appeal must be filed for each Notice of Determination you are disputing.

The appeal must be in writing and sent or faxed to:

Minister of Finance
Tax Appeals and Litigation Branch
PO Box 9629 Stn Prov Govt
Victoria BC  V8W 9N6
Fax Number:  250-387-5883

Be sure to clearly state the following:

  • Your name, address and telephone number
  • The decision in dispute
  • The reasons for the appeal
  • The facts on which the appeal is based

If someone is representing you, or you are representing the taxpayer, a signed Authorization (FIN 87) (PDF) allowing us to discuss the matter with the representative must be provided.

Once an appeal is received, the Minister will consider the matter and notify you in writing of the decision.

Please note:  If you’ve been charged a penalty or required to repay all or part of the bonus, you have to pay these amounts even while they’re under appeal. You should direct any questions about payment of these amounts to the number listed on your Notice of Determination.

Legislation

The following legislation applies to the First Time Home Buyers’ Bonus:

Source: http://www2.gov.bc.ca/gov/topic.page?id=0778BC0286DC4B1DAFEF090568064BB0&title=B.C.+First-Time+New+Home+Buyers%27+Bonus

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Greater Vancouver residential property sale and listing activity below 10-year averages in November

Over the past six months, the Greater Vancouver housing market has seen a reduction in the number of homes listed for sale, a gradual moderation in home prices and a decrease in property sales compared to historical averages.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,686 on the region’s Multiple Listing Service® (MLS®) in November, a 28.6 per cent decline compared to the 2,360 sales in November 2011 and a 12.7 per cent decline compared to the 1,931 home sales in October 2012.


November sales were 30.3 per cent below the 10-year November sales average of 2,420.


“Home sellers appear more inclined to remove their properties from the market today rather than lower prices to sell their properties. On the other hand, buyers appear to be expecting prices to moderate,” Eugen Klein, REBGV president said.
 
New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,758 in November. This represents a 14.4 per cent decline compared to November 2011 when 3,222 properties were listed for sale on the MLS® and a 36.2 per cent decline compared to the 4,323 new listings in October 2012.


New listings were 12.9 per cent below the 10-year November average of 3,168.


At 15,689, the total number of residential property listings on the MLS® increased 13 per cent from this time last year and declined 9.7 per cent compared to October 2012. Total listings in the region have declined by nearly 3,000 properties since reaching a peak of 18,493 in June.


The region’s sales-to-active-listings ratio was unchanged from October at 11 per cent.


“Home prices in Greater Vancouver have generally declined between three and five and a half per cent, depending on property type, since reaching a peak six months ago,” Klein said. “Changes in home prices vary per municipality and neighbourhood. It’s good to check local market statistics with your REALTOR®.”


Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 4.5 per cent to $596,900. This represents a 1.7 per cent decline when we compared to this time last year.


Sales of detached properties in Greater Vancouver reached 629 in November, a decrease of 31.3 per cent from the 916 detached sales recorded in November 2011, and a 40.1 per cent decrease from the 1,050 units sold in November 2010. Since reaching a peak in May, the benchmark price for a detached property in Greater Vancouver has declined 5.5 per cent to $914,500.


Sales of apartment properties reached 750 in November 2012, a 25 per cent decrease compared to the 1,000 sales in November 2011, and a decrease of 28.7 per cent compared to the 1,052 sales in November 2010. Since reaching a peak in May, the benchmark price for an apartment property in Greater Vancouver has declined 3.9 per cent to $364,900.


Attached property sales in November 2012 totalled 307, a 30.9 per cent decrease compared to the 444 sales in November 2011, and a 24.6 per cent decrease from the 407 attached properties sold in November 2010. Since reaching a peak in April, the benchmark price for an attached property in Greater Vancouver has declined 3.6 per cent to $454,300.

Feature Facts:

  • Of the 15,689 homes currently for sale on the MLS® in Greater Vancouver, 49.6 per cent are listed for $600,000 or less. Of those, 1,321 are detached properties, 5,039 are condominiums and 1,419 are townhomes.
  • Of the 1,686 homes that sold in Greater Vancouver in November, 273 (16%) sold for $1 million or more.

Download the complete stats package by clicking here


Source: Real Estate Board of Greater Vancouver

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