Steve Baldwin

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August marked the third consecutive month that home sale activity in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region  has exceeded the 10-year norm every month since the beginning of the year.

This listing activity represents an eight per cent increase compared to August 2010, but also ranks as the third lowest total for August in the last 10 years.

“MLS® statistics continue to indicate that we’re in a balanced market,” Rosario Setticasi, REBGV president said. “However, with a sales-to-actives listings ratio of 15 per cent, Greater Vancouver is in the lower end of a balanced market and has been trending toward a buyers’ market over the past three months.” New listing total was the highest volume recorded for August in 16 years.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.5 per cent to $625,578 in August 2011 from $576,597 in August 2010.

“Year over year, prices are up. However, in the detached home category, benchmark prices have come down slightly in each of the past two months,” Setticasi said. “It’s important for people entering the market to understand that activity can differ significantly depending on the area and property type.”

The benchmark price for detached properties increased 11.7 per cent from August 2010 to $888,243.

The benchmark price of an apartment property increased 5.6 per cent from August 2010 to $407,457.

The benchmark price of a townhouse or 1/2 duplex increased 4.5 per cent between August 2010 and 2011 to $511,433.

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Property Photo: 604 988 RICHARDS ST in Vancouver
New property listed at 604 988 RICHARDS ST in Vancouver.
NY inspired boutique building with 6 floors and only 52 residences. Urban chic offering a functional, well laid out 2 bedroom, 2 full bath, southwest facing corner unit with 9' ceilings and loads of storage and closet space. Theentertainer's kitchen features granite counters, high-end Bosch appliances, gas cook top, deep stainless sink tub with top of the line fixtures. This home is well planned with a versatile living, dining and kitchen that maximizes living space. Large covered balcony great for BBQs and warm summer evenings, enjoying the city lights or conversation with that special someone! Secure parking and storage. Welcome to your downtown dream as seen on CTV BC, Monday, September 26!
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New property listed at 789 HUNTINGDON CR in North Vancouver.
A great family home on a wonderful, peaceful street. This house sits on a large, flat sunny lot. Really bright throughout, with 6 bedrooms (3 up, 3 down) & 2.5 bathrooms. Original hardwood on upper level. Very private backyard withtall hedges & swimming pool. Amazing value for the neighbourhood. Bring your renovation ideas. Easily suited. Convenient location near parks, golf courses, shopping & Deep Cove beach. Walking distance to Sherwood Park Elementary that offers French Immersion. PUBLIC OPEN HOUSE SATURDAY SEPTEMBER 24TH & SUNDAY SEPTEMBER 25TH 2-4PM.
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New property listed at # 301 1111 LYNN VALLEY RD in North Vancouver.
Welcome to the Dakota! This 1 bedroom & den has a functional open floor plan with great features including stainless steel appliances, gas fireplace, french doors, large useable covered balcony & in-suite laundry. West facing.The den is very large & could be used as a second bedroom. Very well built by Adera - rainscreened. Super convenient location, walking distance to Lynn Valley Mall, the bus stop, Lynn Canyon, the Library & Karen Magnussen Rec Centre. PUBLIC OPEN HOUSE SATURDAY SEPTEMBER 24TH & SUNDAY SEPTEMBER 25TH 2-4PM.
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