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2 more very active days for (Nov. 1 & 2) North Shore real estate with 75 new listings, 40 sales, 46 price reductions and 3 price increases. If you are suprised to hear about price increases, I'm always happy to discuss it with you.

 

Phil LeGree

604-518-1644

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Greater Vancouver at lower end of balanced housing market

 

With a sales-to-active property listings ratio of 15 per cent, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years.

“Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said. “Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,374 in October, which is on par with the 10-year average. This represents an 18.3 per cent increase compared to October 2010, when 3,698 properties were listed for sale on the MLS®, and a 23 per cent decrease compared to the 5,680 new listings reported in September 2011.

The total number of properties listed for sale on the Greater Vancouver MLS® system currently sits at 15,377, which is 9.3 per cent higher than the 14,075 properties listed for sale during the same period last year. October was the first month that the total number of property listings showed a decrease this year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.5 per cent to $622,955 in October 2011 from $579,349 in October 2010. However, since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.3 per cent.

Sales of detached properties in October reached 974, which represents virtually no change from the 976 detached sales recorded in October 2010, and a 34.5 per cent decrease from the 1,487 units sold in October 2009. The benchmark price for detached properties increased 11 per cent from October 2010 to $884,778, but decreased 1.3 per cent compared to the previous month.

Sales of apartment properties reached 958 in October, a 2.6 per cent decrease compared to the 984 sales in October 2010, and a decrease of 40.4 per cent compared to the 1,607 sales in October 2009. The benchmark price of an apartment property increased 3.2 per cent from October 2010 to $402,702, but decreased 0.7 per cent compared to the previous month.

Attached property sales in October totalled 382, a 1.3 per cent increase compared to the 377 sales in October 2010, and a 37.4 per cent decrease from the 610 attached properties sold in...

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Not a scary Halloween at all with the North Shore showing 26 new listings, 15 sales and 27 price reductions for Monday Oct. 31, 2011.

 

Let me help you start the search for your next home now, and go over the details of how my extensive marketing campaign can get your home sold when you are ready. 

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It's still hot on the North Shore with listings and sales still going well. The REBGV shows for Oct. 27 in North & West Vancouver there were 23 new listings, 26 sales and 17 price reductions. 

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If you are thinking of selling your home in 2012, but think it is to early to plan, here is a sample timeline for you to consider.

1. Plan everything with your agent (Phil LeGree) in Nov./Dec this year.

2. Have photos taken and professional floor plan done. These are both included as part of my service.

3. List your home in early Jan. 2012 - The market started early in 2011.

4. Lets say your home took about 45 days to sell. That puts you into about March 2012.

5. Lets say the completion date is 60 or 90 days (quite common) from sale date.  That puts you into May or June. Is next spring or summer when you were thinking it would be a good time to sell?

 

The above is just an estimate, and of course homes can sell quicker or can take longer, but as you can see, 1/2 the year disappears quite quickly. 

 

So, if you have plans to sell in 2012, or are still just in the thinking process, it would be my honor to meet with you and to help you through this process with as much comfort as possible. I am available at your convenience.

 

Many people call me to start this process by having me help find where they might move to. The most common situation I deal with is people saying "We'd like to have you sell our home for us, but we're not sure where we would go". Again, this is another great reason to start the process early. I can set up a search that keeps you updated on homes/condos that are right for you, or can help you decide what is right for you. That way, you will feel much more comfortable and educated with what is available and the kind of investment it will take to get you in your new home.

Imagine that we had discussed your home and had everything in place to sell when you were ready, and the search showed a place you would love to live. As we've had meetings and put a great sales plan in place, we could react quickly and get your home on the market right away, without you worrying that you hadn't spent enough time planning. Imagine being able to react quickly and comfortably, to be in the best position to not miss out on a great new home.

 

I am happy to help you, your friends, family and neighbors through this process. Please think of me when someone you care about is discussing moving, and have them call me. You will see that I care about them as well.

 

At your service,

 

Phil LeGree

604-518-1644

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REBGV shows the week ended strong on Friday Oct. 21 with 11 new listings, 22 sales & 12 price reductions.

Thursday and Friday combined for the North Shore had 29 new listings and 29 sales with 19 price reductions and 1 price increase. There is still lots of selling time left this year, and it's an excellent time to start making your plans for next year.

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The RBGV shows North and West Vancouver with 39 new listings, 15 sales, 18 price reductions and 1 price increase. I'm happy to discuss you specific area of interest and type of home at your convenience.

 

Phil LeGree

604-518-1644

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Talk about an active fall! North & West Vancouver have had 56 new listings, 46 sales, and 27 price adjustments over the past 2 days (Oct. 17 & 18). There is still time to list and take advantage of the market.

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42 new listing Tuesday Oct. 11 with 22 sales and 17 price changes (13 reductions & 4 increases)

It's an active fall and there is still lots of time to get your home on the market. I'm ready to use my home grown passion for the North Shore to help get the most for your home.

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