The Inside Scoop....

The latest release of the Housing Price Index shows a benchmarch price of $1,667,089 for Single Family Detached Homes on the West Side of Vancouver.  With a current inventory of only 422 detached homes, 320 of those homes are priced over $1,5 million.  The number of detached homes for sale is 39% lower than it was in February, 2009, while units sold are up 30%.  In the past week, we saw a modest spike in new listings, however, many of those listings are 1 bedroom condominiums in the Downtown ... Full Article...

Considering that Vancouver has been hosting the largest International event that we will ever see for years to come, the real estate market has been fairing not too badly.  Although we saw significantly fewer new listings hit the market last week, the number of sales reported was 97, compared with an average of 120 over the past 7 weeks.  The total inventory now sits at 2,115, only a marginal increase from the previous week.  Inventory of Single Family Homes remains low, at 431, which is keepin ... Full Article...

We've just made it through Week 1 of the Olympic Games in Vancouver, and I must say, it is feeling like the euphoria and excitement around the City has overshadowed any sense of normality.  A False Creek resident, I live in the hub of activity, a 10 minute walk to Granville Island, the Live City venues, BC Place and GM Place, and all the other central attractions that have been oh so crowded.  It feels a bit like there is a party happening in my living room, while I am in the bedroom.  With tha ... Full Article...

The big question on everyone's mind, "What will happen to real estate prices in Vancouver this year?"  I keep saying that inventory levels are the key.  We are still early into 2010, and inventory levels over the past 3 weeks have barely edged up, now at only 2,030 in total, with only 399 detached houses for sale.  The sale to list ratio last week was 45%, down from 61% the previous week.  As the 2010 Olympics are less than 1 week away, excitement around the City is buzzing.  Many Vancouverites ... Full Article...

Foreign investment, along with low inventory levels, are keeping the prices of Detached homes on the Westside of Vancouver at peak levels.  Year to date, 35% of all detached homes sold were priced over $2 million.  Foreign investors are buying homes on larger lots, and "lot value" properties with large lots, with emphasis on location within certain school boundaries.  The median price of detached homes sold to date is $1,778,500, with median days on the market being 13.  If you are contemplatin ... Full Article...