February 4, 2014
Steady trends continue in the Greater Vancouver housing market
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.
Monday, December 5, 2011
Home energy efficiency upgrades made easy
Lower your engery bills, access government rebates, improve the comfort of your home and reduce its environmental footprint with the City of Vancouver's Greenest City 2020 Home Energy Loan Program.
The program offers loasn ranging from $4,000 to $16,000 to cover the cost of select engery efficiency upgrades. The loans, administered by Vancity, will be offered at a low, fixed interest rate over a 10 - year amortization period, allowing affordable, predictable payments over the life of the loan.
In addition to the fianancing, the HOme Engergy Loan Program helps simplify the process by connecting you to experts, helping you access up to $9,300 in rebates, and offering guidance and support.
Eligible upgrades include high - efficiency furnaces, and hot water tanks, air - to air heat pumps, insulation , and weatherization.
Buildings in Vancouver, including homes, contribute an estimated 55 per cent of Vancouver's greenhouse gas(GHG) emissions ( gases that trap heat in the atmosphere and contribue to climate change). The City is aming to reduce GHG imissions city wide by one third by 2020.
Making energy efficiency upgrades to single family homes and duplexes could save approximately 90,000 tons fo GHGs by 2020. That wuld be like permanently removing 2,000 cars from Vancouver's roads. Homeowners like you can help Vancouver reach its goal by becoming the world's greenest city by 2020 by making your home more energy efficient.
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Saturday, December 3, 2011
Historically normal activity keeps ...