I just sold this House & Land at 96 HOLLYBERRY Lane, Islands-Van. & Gulf, British Columbia Thetis Island.

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I just sold this Beach Home at 20 FOSTER POINT Road, Thetis Island, British Columbia Thetis Island.

View this recently sold Beach Home or see all my home sales

Moderate Rise in Home Sales Forecast BCREA Fall Housing Forecast 2010

Vancouver, BC – November 10, 2010. 

 

The British Columbia Real Estate Association (BCREA) released its Fall Housing Forecast 2010 today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to decline 12 per cent from 85,028 units in 2009 to 74,950 units this year, before increasing 6 per cent to 79,700 units in 2011.

"Consumers are responding to a double-dip in mortgage interest rates," said Cameron Muir, BCREA Chief Economist. "While housing demand waned in the province through the spring and summer, the added purchasing power from low borrowing costs combined with gradual improvement in the BC economy has trended home sales higher in recent months."   

"A moderate increase in BC home sales is expected next year coinciding with employment and population growth," added Muir. "However, the 79,700 unit sales that are forecast for 2011 are well below the ten-year average of 85,500 units." A record 106,300 MLS® residential sales were recorded in 2005.

The average MLS® residential price is forecast to climb 7 per cent to $498,500 this year and remain relatively unchanged in 2011, albeit declining by 1 per cent to $495,600.

 

The full BCREA Housing Forecast Update is available at:http://www.bcrea.bc.ca/economics/HousingForecast.pdf.

 

http://www.joesquire.com/

Low Mortgage Rates Boost August Home Sales

Vancouver, BC – September 14, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 35 per cent to 5,590 units in August compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 7 per cent in August from July 2010. The average MLS® residential price climbed 4 per cent to $487,804 in August compared to the same month last year.

"August home sales posted the first month-to-month increase since March of this year,” said Cameron Muir, BCREA Chief Economist. “Lower mortgage interest rates and an improving labour market are inducing additional consumer demand."

"The number of new residential listings in the province has fallen 30 per cent since April,” added Muir. “With fewer new listings, total active listings are now on the decline, signaling that an end to the buyer’s market may be on the horizon."

Year-to-date, BC residential sales dollar volume increased 8 per cent to $26.9 billion, compared to the same period last year. Residential unit sales rose 2 per cent to 53,717 year-to-date, while the average MLS® residential price climbed 10 per cent to $501,226 over the same period.

For the complete news release, including detailed statistics, follow this link: http://www.bcrea.bc.ca/news_room/2010-08.pdf

http://www.joesquire.com

I just finished uploading this Duplex for sale, Wakesiah & 5th, Nanaimo , BC

New 1/2 duplex available October 1st 1 block from VIU!! Come check out this brand new, just finished 2 bedroom house/ duplex! Italian tile floors on them main floor, engineered maple hardwood upstairs in the bedrooms with sound insulation between rooms. White stone counters, 4 new stainless appliances including dishwasher/ microwave. Raised eating bar with recessed pot lights throughout... seriously I spent too much on this place- its going to be sweet! Designer bathroom with glass shower, inset glass tile accents and chrome fixtures. Highspeed internet included, sound insulation in the common wall, other half of house is rented to nice/ friendly / cool people already. 2 off street parking spots accessible via the rear lane. Some ocean glimpses from the bedroom windows. 1 yr lease preferred but not necessary, month to month ok. Please contact me for more info, send a brief note about yourself/ your intentions. Thanks for looking! PS- I am the funny looking agent guy in the picture at the bottom, this is my house and I'm offering it for rent :) Joe

We are proud to announce that this Aug 15th, 2:00 PM to 4:00 PM we will be hosting an Open House at 118 TEMPLETON Drive in the Hastings neighborhood, Vancouver East. This is an opportunity to visit this excellent House for sale in beautiful Hastings.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Hastings House for sale.

As always please do not hesitate to give me a call at 604-626-9259 if I can answer any questions before the open house, or if you would like to book a private showing.

Joe Squire
Sutton West Coast Realty

I just sold this House & Land at 232 Plateau Road, Thetis Island, BC .

View this recently sold House & Land or see all my home sales

I just sold this Waterfront Condo at 1602 154 Promenade, Nanaimo, BC .

View this recently sold Waterfront Condo or see all my home sales

I just finished uploading this House for sale, 118 TEMPLETON Drive, Vancouver East, British Columbia

Prime residential investment property, this legal character duplex was professionally renovated and raised with permits. Main floor just had sleek bamboo flooring & fresh paint, numerous built-ins & new appliances. Ppty contains 3 suites on 3 levels! Walk in & call it home! New wiring & plumbing on a solid foundation with thermo windows throughout, means you can enjoy yourself here without the fear of having to work on the important parts of your home. Quiet & respectful tenants wish to stay in the suites, main floor is ready for you to move in & watch your equity grow from the solid revenue stream. Fully fenced, secure, low maintenance yard & walking distance to shops. Property is turn key & ready for you! Don't delay.

I just sold this Condo at 801 1030 WEST BROADWAY, Vancouver, BC .

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I just sold this House at 514 Weeks Cr., Nanaimo, BC .

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I just sold this Condo at 1450 LABURNUM Street, Vancouver West, British Columbia .

View this recently sold Condo or see all my home sales

REBGV Stats June 2010
Activity steady to start the summer season
The Greater Vancouver housing market experienced steady activity to begin the summer season.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second highest selling June on record.
“Activity in June marked a healthy balance between the near record setting pace of June 2009 and the considerably slower activity witnessed in June 2008, a period of recession as we all know,” Jake Moldowan, REBGV president said.
Compared to June 2008, last month’s sales represent a 22.6 per cent increase over the 2,425 sales recorded that month, but are 30 per cent less than the 4,244 sales in June 2007. June 2010 sales also represent a 5.8 per cent decline compared to the previous month’s sales totals.
“We didn’t experience any record-breaking activity in June, but we did see a stable summer market,” Moldowan said. “The number of new listings coming on the market is not as dramatic as we saw over the previous three months and demand remains at a healthy level for this traditionally quieter time of year.”
New listings for detached, attached and apartment properties totalled 5,544 in June 2010, a 3.2 per cent increase compared to June 2009 when 5,372 new units were listed, and a 21 per cent decline compared to May 2010 when 7,014 properties were added to the MLS®.
At 17,564, the total number of property listings on the MLS® increased 1.2 per cent in June compared to last month, and is up 32 per cent compared to this time last year.
“There has been less upward pressure on prices in our market the last few months, which has allowed prices to ease back from the record high numbers seen in April,” Moldowan said.
Over the last 12 months, the overall MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 11.8 per cent to $580,237 from $518,855 in June 2009.
Sales of detached properties in June 2010 reached 1,139, a decrease of 31.7 per cent from the 1,667 detached sales recorded in June 2009 and a 24.1 per cent increase from the 918 units sold in June 2008. The benchmark price for detached properties increased 13.4 per cent from June 2009 to $795,025.
Sales of apartment properties reached 1,258 in June 2010, a decline of 29.7 per cent compared to the 1,790 sales in June 2009 and an increase of 19 per cent compared to the 1,057 sales in June 2008.The benchmark price of an apartment property increased 9.7 per cent from June 2009 to $391,528.
Attached property sales in June 2010 totalled 575, a decline of 28.3 per cent compared to the 802 sales in June 2009 and a 27.8 per cent increase from the 450 attached properties sold in June 2008. The benchmark price of an attached unit increased 11.6 per cent between June 2009 and 2010 to $492,861.
copyright© real estate board of greater vancouver. all rights reserved.
http://www.joesquire.com/

Home Buyers Facing Less Competition
Vancouver, BC – June 14, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 4 per cent to 7,950 units in May compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 11 per cent in May from April 2010. The average MLS® residential price climbed 7 per cent to $498,294 in May compared to the same month last year.  

“A slower pace of home sales combined with an increase in the inventory of homes for sale has quelled upward pressure on home prices,” said Cameron Muir, BCREA Chief Economist. A total of 54,362 MLS® residential listings were recorded in May, up 26 per cent from January on a seasonally adjusted basis. “Moderating market conditions in Vancouver, the Fraser Valley and Victoria are reducing the number of multiple offers as a greater selection of homes for sale lessons competition amongst home buyers,” added Muir.
Year-to-date, BC residential sales dollar volume increased 50 per cent to $17.5 billion, compared to the same period last year. Residential unit sales rose 31 per cent to 34,619 year-to-date, while the average MLS® residential price climbed 14 per cent to $505,468 over the same period.

For the complete news release, including detailed statistics, follow this link: http://www.bcrea.bc.ca/news_room/2010-05.pdf.
http://www.joesquire.com

Housing Market Push and Pull: Economic Growth Versus Affordability 
BCREA Housing Forecast - Second Quarter 2010

Vancouver, BC – June 7, 2010. The British Columbia Real Estate Association (BCREA) released its Housing Forecast for the second quarter of 2010 today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to ease back 3 per cent from 85,028 units in 2009 to 82,350 units this year, before increasing 4 per cent to 85,900 units in 2011.

“Eroding affordability will trim home sales by 3 per cent this year despite improving economic conditions and related employment growth,” said Cameron Muir, BCREA Chief Economist. “The push and pull of positive economic growth versus rising mortgage interest rates is expected to keep BC home sales near their 10-year average of 85,569 units both this year and next.” 

The average MLS® residential price is forecast to climb 6 per cent to $494,600 this year and remain relatively unchanged in 2011, albeit increasing by 1 per cent to $499,700.

"Strong consumer demand in Vancouver, Victoria and the Fraser Valley was largely responsible for driving the average home price in the province higher over the last three quarters,” added Muir. “However, demand has moderated in those markets and a larger inventory of homes for sale has pulled market conditions into balanced territory, providing less upward pressure on home prices"

The full BCREA Housing Forecast is available at: www.bcrea.bc.ca/economics/HousingForecast.pdf

http://www.joesquire.com/

June 4, 2010
REBGV Stats

May market offers buyers greater selection

The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.

In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.

New listings for detached, attached and apartment properties totalled 7,014 in May 2010, a 48.2 per cent increase compared to May 2009 when 4,733 new units were listed, and an 8.3 per cent decline compared to April 2010 when 7,648 properties were added to the MLS®.

At 17,492, the total number of property listings on the MLS® increased 10 per cent in May compared to last month, and is up 28.2 per cent compared to this time last year.

“Prospective home buyers in today’s market have a broad selection to choose from in every property type. REALTORS® are telling us they’re working with buyers who are not feeling as rushed to make a decision as they did late last year and earlier in the year,” Jake Moldowan, REBGV president said.

Over the last 12 months, the overall MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 16.7 per cent to $590,662 from $506,201 in May 2009.

“It’s important for those looking to buy or sell a home to remember that real estate is local and wise real estate decisions are made by those who understand current market conditions at the neighbourhood level,” Moldowan said.

Sales of detached properties in May 2010 reached 1,256, a decrease of 10.4 per cent from the 1,402 detached sales recorded in May 2009 and a 4.4 per cent increase from the 1,203 units sold in May 2008. The benchmark price for detached properties increased 19.1 per cent from May 2009 to $810,175.

Sales of apartment properties reached 1,354 in May 2010, a decline of 7.1 per cent compared to the 1,458 sales in May 2009 and an increase of 8.8 per cent compared to the 1,244 sales in May 2008.The benchmark price of an apartment property increased 13.9 per cent from May 2009 to $398,783.

Attached property sales in May 2010 totalled 546, a decline of 17.8 per cent compared to the 664 sales in May 2009 and a 1.6 per cent decline from the 555 attached properties sold in May 2008. The benchmark price of an attached unit increased 14.8 per cent between May 2009 and 2010 to $500,339.


copyright© real estate board of greater vancouver. all rights reserved.

May 21, 2010 HOUSING MARKET UPDATE Today at 13:50 May 21, 2010 HOUSING MARKET UPDATE Balanced increases create stable marketplace The Greater Vancouver housing market has enjoyed four consecutive months of balanced market conditions. This comes on the heels of a frenetic “seller’s” market period to close 2009, which saw inventory consumed at a near record pace. Activity is strong in today’s market, but increases are occurring evenly between listings and sales, which has kept the market in a balanced state. A housing market enters “balanced” territory when demand, represented by sales activity, reaches an equilibrium range with the supply of homes for sale. Most analysts believe the market reaches this equilibrium range when the sales-to-active listings ratio is between 18 and 22 per cent for a sustained period. The Greater Vancouver market entered this range in January 2010 and has maintained this balance to present day. “We’re in the midst of another strong spring season thanks to high levels of activity on both the buyer and seller side of our market,” Jake Moldowan, Board president said. “The number of homes coming on the market has increased significantly in recent months, which is providing a healthy level of choice for those looking to buy during this busy period.” The strength of demand in the market since the economic downturn has resulted in rising home prices. In the last 12 months, increases in home values have eliminated the approximately 15 per cent decline seen during the recession and propelled home prices in the region to new heights. The MLSLink® Housing Price Index (HPI) benchmark price for a residential property in Greater Vancouver today is $593,419, an increase of 4.4 per cent from the pre-recession peak of $568,411in May 2008. Last month, the average price of a detached home in Greater Vancouver surpassed $1 million for the first time in the Board’s history. This created significant discussion about affordability in the region. “While home values have now eclipsed the previous peaks, a diverse range of available properties and low interest rates continue to present opportunities for first-time and move-up buyers,” Moldowan said. “The product mix today is as varied as it has ever been in our market.” The graph pictured here shows the distribution of recent home sales in the region by price point. Of all residential properties purchased in Greater Vancouver in the first quarter of 2010, 48 per cent sold for less than $500,000 and just 14 per cent exceeded the $1 million mark. Today’s market, at all price points, is operating at a rapid pace. In April, it took members, on average, 31 days to sell a home in Greater Vancouver, which is one day less than the March 2010 average, but 29 days faster than the 60-day average in April 2009.
© Real Estate Board of Greater Vancouver

http://www.joesquire.com/

I just finished uploading this House & Land for sale, 278 North Cove Road, Thetis Island, BC

Large custom built home on 2.5+ acres of Thetis Island, offering vaulted ceilings and big windows to take in the peaceful views and the tranquility of the island lifestyle. Get some real value for your money here, built by the seller, this home has a great floor plan with extensive decking planned on several levels. The top floor master suite has gleaming floors complete with en-suite and outdoor space. A small office space or walk-in closet complete the living space in this top floor master bedroom. Enjoy the main floor living this home allows and bring your ideas for the full height, walk out basement. Plenty of upside here for the savvy buyer or handyman. The property also features a detached workshop/ garage for projects and parking. Follow the trail down to the beach access on Rupert Lane or just stay cosy in this home and enjoy yourself! 3 bedrooms, 2 bathrooms, 2400sq.ft. on 3 levels, highspeed internet and a detached garage, this property offers its owner much to do! 3 flights daily to Vancouver and 11 ferries to Chemainus on the big island, call or email Joe and come over for a look.

REBGV Stats

Home buyer and seller activity increases in busy spring market


The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,512 in April 2010, the fifth highest-selling April on record. The figure represents an increase of 18.5 per cent compared to the 2,963 sales in April 2009; 9.1 per cent more than April 2008’s 3,218 sales; and 3.7 per cent more than April 2007’s 3,387 sales. April 2010 sales also represent a 12 per cent increase compared to last month. “We’re in the midst of another strong spring season thanks to high levels of activity on both the buyer and seller side of our market,” Jake Moldowan, REBGV president said. “The number of homes coming on the market has increased significantly in recent months, which is providing a healthy level of choice for those looking to buy during this busy period.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 7,648 in April 2010, a 64.5 per cent increase compared to April 2009 when 4,649 new units were listed, and a 9.2 per cent increase compared to March 2010 when 7,004 properties were added to the Multiple Listing Service® (MLS®). At 15,901, the total number of property listings on the MLS® increased 17 per cent in April compared to last month, and is up 11 per cent compared to this time last year. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 18.9 per cent to $593,419 from $499,021 in April 2009. “It was at this time last year when home prices in our region began their recovery from the declines that occurred during the recession period,” Moldowan said. Sales of detached properties in April 2010 reached 1,370, an increase of 15.1 per cent from the 1,190 detached sales recorded in April 2009 and a six per cent increase from the 1,293 units sold in April 2008. The benchmark price for detached properties increased 21.2 per cent from April 2009 to $818,403. Sales of apartment properties reached 1,526 in April 2010, an increase of 29.4 per cent compared to the 1,179 sales in April 2009 and an increase of 15.9 per cent compared to the 1,317 sales in April 2008.The benchmark price of an apartment property increased 16.9 per cent from April 2009 to $397,779. Attached property sales in April 2010 totalled 616, an increase of 3.7 per cent compared to the 594 sales in April 2009 and a 1.3 per cent increase from the 608 attached properties sold in April 2008. The benchmark price of an attached unit increased 16.4 per cent between April 2009 and 2010 to $502,399.
copyright© real estate board of greater vancouver. all rights reserved.

BC Home Sales Moderate in First Quarter Vancouver, BC – April 13, 2010.

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 43 per cent to 7,110 units in March compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 6 per cent compared to February 2010.

However, home sales in March were 20 per cent lower than December 2009 on a seasonally adjusted basis. “Home sales have moderated since the beginning of the year,” said Cameron Muir, BCREA Chief Economist. Waning pent-up demand and eroding affordability were key factors in the market. “Despite an improving provincial economy, higher mortgage interest rates and tighter credit conditions for low-equity homebuyers and investors will squeeze some prospective buyers out of the market this spring,” added Muir.

The BC residential sales dollar volume increased 95 per cent to $9.22 billion in the first quarter of 2010 compared to the same period last year. Residential units sales rose 64 per cent to 18,284 units, while the average MLS® residential price climbed 19 per cent to $504,312 over the same period.