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VANCOUVER, B.C. – March 2, 2016 – Last month was the highest selling February on record for the Metro Vancouver* housing market.

Residential property sales in the region totalled 4,172 in February 2016, an increase of 36.3 percent from the 3,061 sales recorded in February 2015 and an increase of 65.6 percent compared to January 2016 when 2,519 homes sold.

Last month’s sales were 56.3 percent above the 10-year sales average for the month and rank as the highest February sales total on record.

“We're in a competitive, fast-moving market cycle that favours home sellers,” Darcy McLeod, REBGV president said. “Sustained home buyer competition is keeping upward pressure on home prices across the region.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,812 in February 2016. This represents an increase of 7.1 percent compared to the 5,425 units listed in February 2015 and a 30.8 percent increase compared to January 2016 when 4,442 properties were listed.

“We're beginning to see home listings increase as we head toward the spring market, however, additional supply is still needed to meet today's demand,” McLeod said.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,299, a 38.7 percent decline compared to February 2015 (11,898) and a 10 percent increase compared to January 2016 (6,635).

The sales-to-active listings ratio for February 2016 is 57.2 percent. This is indicative of a seller’s market.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark, while home prices often experience upward pressure when it reaches the 20 to 22 percent range in a particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $795,500. This represents a 22.2 percent increase compared to February 2015.

Sales of detached properties in February 2016 reached 1,778, an increase of 37.2 percent from the 1,296 detached sales recorded in February 2015. The benchmark price for detached properties increased 27 percent from February 2015 to $1,305,600.

Sales of apartment properties reached 1,790 in February 2016, an increase of 43.9 percent compared to the 1,244 sales in February 2015.The benchmark price of an apartment property increased 17.7 percent from February 2015 to $454,600.

Attached property sales in February 2016 totalled 604, an increase of 15.9 percent compared to the 521 sales in February 2015. The benchmark price of an attached unit increased 17 percent from February 2015 to $569,600.

 

 

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VANCOUVER, B.C. – December 2, 2014 – Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 percent increase compared to the 2,321 sales in November 2013, and a 17.7 percent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 percent above the 10-year sales average for November.

“It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 percent decrease compared to the 3,245 new listings in November 2013 and a 32.8 percent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 percent decline compared to November 2013 and a 9.4 percent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 percent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 percent from the 926 detached sales recorded in November 2013, and a 60.9 percent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 percent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 percent compared to the 969 sales in November 2013, and a 40.3 percent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 percent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 percent increase compared to the 426 sales in November 2013, and a 47.2 percent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 percent between November 2013 and 2014 to $480,200.

 

 

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VANCOUVER, B.C. – December 3, 2013 – Consistent home sale and listing activity has allowed balanced market conditions to prevail in the Greater Vancouver housing market for most of 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,321 on the Multiple Listing Service® (MLS®) in November 2013. This represents a 37.7 percent increase compared to the 1,686 sales recorded in November 2012, and a 12.8 percent decline compared to the 2,661 sales in October 2013.

Last month’s sales were 1.2 percent below the 10-year sales average for the month, while new listings were 1.5 percent above the 10-year November average.

“We’ve seen steady and consistent trends the Greater Vancouver housing market for much of this year,” Sandra Wyant, REBGV president said. “This year’s activity has resulted in gradual and modest increases in home prices of approximately one percent over the last 12 months in the region.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,245 in November. This represents a 17.7 percent increase compared to the 2,758 new listings reported in November 2012 and a 24.8 percent decline compared to the 4,315 new listings in October of this year.

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 13,986, a 10.9 percent decrease compared to November 2012 and an 8.3 percent decline compared to October 2013.

The sales-to-active-listings ratio currently sits at 16.6 percent in Greater Vancouver.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $603,000. This represents a 1 percent increase compared to November 2012.

Sales of detached properties reached 926 in November 2013, an increase of 47.2 percent from the 629 detached sales recorded in November 2012, and a 1.1 percent increase from the 916 units sold in November 2011. The benchmark price for detached properties increased 1.1 percent from November 2012 to $924,800.

Sales of apartment properties reached 969 in November 2013, an increase of 29.2 percent compared to the 750 sales in November 2012, and a decline of 3.1 percent compared to the 1,000 sales in November 2011. The benchmark price of an apartment property increased 0.8 percent from November 2012 to $367,800.

Attached property sales in November 2013 totalled 426, an increase of 38.8 percent compared to the 307 sales in November 2012, and a 4.1 percent decline compared to the 444 attached properties sold in November 2011. The benchmark price of an attached unit is currently $458,000, which is a 0.8 percent increase from November 2012.

 

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Fairview Green consists of 9 high end town homes. Located on West 7th Avenue at Spruce Street, and offers views of False Creek and beyond.
 
These three levels home have three or more bedrooms each and large roof decks and patios. Each underground pakring is directly accessible from every home, and all have two parking stalls, a storage locker and bike room; some have private elevators.
 
City Homes are priced from $1,300,000 + HST.
 
 
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Welcome to fairviewliving.ca! This is a new website with a wealth of resources specific to the Farivew neighbourhood!
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