The Inside Scoop....

4106 West 15th Avenue, Vancouver 2465 West 8th Avenue, Vancouver

Finally, after a terribly frantic and hectic week in real estate, I am able to sit down and analyze the market activity (aside from my own) for the past 8 days.  It is completely in balance, with 338 new listings, and 283 sales!   This morning, I attended my monthly networking meeting of Royal LePage Realtors, the BC Breakfast Club, and it seems that Vancouver's Westside is ahead of other markets.  Squamish appears to be a couple of months behind the West Side, and the eastern suburbs appear t ... Full Article...

Source:  Invis Financial (www.invis.ca) "The Bank of Canada reduced its key interest rate by a quarter point (April 21st) to its lowest level ever.  In its announcement, the Bank also stated that it expects to hold this policy rate at its current level until the end of the second quarter of 2010, conditional on the outlook for inflation." "While rates for variable rate mortgages are typically impacted by Bank of Canada policy rate changes, what's interesting is that rates for popular five-yea ... Full Article...

There is no update for the past week.  I have been really, really, really busy selling homes!

In spite of a short week, the number of sales reported have kept pace with the previous week.  138 Properties were reported sold.  However, the number of new listings and price reductions is down this week.  The total inventory of homes for sale in the Westside is down slightly to 2,804, about even with the inventory in mid January, 2009.   Easter Weekend is typically a slow time in real estate, but I've really been run off my feet this weekend, and I am hearing the same from other Realtors®.  ... Full Article...

The market has remained quite stable over the past few weeks.  134 Properties were sold in Vancouver’s Westside last week.  Even though we are seeing roughly 200 new listings coming to the market each week over the past few weeks, the total inventory in the Westside is down slightly, at 2,864.  As long as inventory doesn’t start to spike, prices should remain relatively stable.  If you are looking for a detached house in the Westside under $1,000,000, there is a marginal supply, and ... Full Article...

I've just listed a gorgeous waterfront home in South False Creek.  This 2 bedroom, 2 bathroom home has been completely and extensively renovated with class and quality, and has a fantastic, unobstructed water view.  More details and photos to come.  For immediate information, give Diane a buzz at 604-261-9311.

The Real Estate Board of Greater Vancouver has just released the March statistics, and the Housing Price Index shows a very marginal decline in prices, leading to stability with increased sales.     Dec/08 Jan/09 Feb/09 Mar/09 Det. $1,165,007 $1,134,773 $1,170,886 $1,127,017 Att. $609,623 $650,919 $635,072 $624,746 Apt. $424,509 $425,678 $422,456 $422,264 Compared to the month of March, 2008, the total residential units listed in the Westside are down by 22%, sales are down by 9%, and ave ... Full Article...