According to the recent report from the FVREB, the local market experienced the strongest August since 2011.

More than 1,300 sales were processed in August, a 3% increase over the same month last year.

According to Ray Werger, president of the Board, “As usual, we saw a typical summer slowdown in August compared to July, however like every month so far in 2014, August sales were higher than last year. It’s the continuation of the story we’ve seen all year; a return to a normal, balanced market.”

Here are a few of the report highlights:

- Single family homes continue to outpace sales of townhouses and condos

- Many first time home buyers are skipping condos as a first- time home purchase and proceeding directly to townhomes and other larger properties

- The benchmark price for detached homes in August was $569,800; for townhouses it was $298,200

To view the full report, click here.

Are you a first time home buyer? What do you hope for as your first home purchase? Or are you a seasoned home buyer looking to move up the property ladder? I can help you find the area that's right for you and get you a home you'll be excited about. Contact me today!

In a recent report by the REBGV, population growth has been forecast for the coming decades. So what does this mean for the real estate market?

By 2041 the Lower Mainland's population is estimated to have grown to 3.4 million, with annual growth of 30,000 new residents each year. Within Metro Vancouver alone an estimated 574,000 housing units will be required. The majority of this population growth will occur in established urban areas, meaning an increased population density in many neighborhoods. This will come in the form of "secondary units and accessory detached housing, ground oriented duplex/ multi- unit structures, row housing, and apartment developments".

Consider where you currently live now. How will this affect the quality of living & infrastructure? Are there investment opportunities for you and your family?

To read the full article by the REBGV click here.

If you have questions about how increased population density can affect property values, present investment opportunities, or impact areas you are interested in moving to, contact me and I will be happy to answer any questions you have.

Image Source: Daily Mail

According to the recent market report from the FVREB, there was an 11% increase in sales over July last year and a 1.4% above the 10 yea average.

President of the Board, Ray Werger had this to say:

“July’s steady activity is a continuation of what we’ve been seeing all year. Our market has fully recovered from last year’s slump and has returned to what we typically see in the Fraser Valley, which is a steady, consistent market... we’re actually seeing a shortage of listings creating a seller’s market for particular homes."

In July the benchmark price determined by the MLS HPI of a 'typical' single family detached home was $568,300; for Townhouses it is $298, 500; for apartments it was $194,700.

To view the full report, click here.

Do you have questions about what a seller's market means for you? Think this is the time to sell? Contact me to help you sell your home fast & take that next step on the property ladder!

Image Source: Rew.ca

Vancouver tower makes enemies before it’s built; some complain units offered for sale to buyers in Asia first

Information derived from article by Sam Cooper, The Province

Vancouver House, the 52- storey, $500 milion dollar project slated to be complete in 2018 along the north side of the Granville Street Bridge is garnering a lot of attention- in more ways than one.

Recently controversy has arisen about the strong initial sales push in China and Singapore ahead of units being available for sale to local residents. However, despite this, development spokeswoman Jill Killeen states that "more than 50 percent of buyers will come from the Vancouver marketplace". In addition, local residents are not too keen about the style of the building (see image, above). To learn more about the Vancouver House project, click here to view the original article.

What do you think about the architecture of this building?

Do you think it is a good idea to open sales for a local building to an international market before it is available to loacls?? 

If you would like more informationa about the local Vancouver and Fraser Valley, contact me and I will be happy to help!

Image Sources:

The Province

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