The Inside Scoop....

New Listings - 237 Listings Sold - 188 List to Sale Ratio - 79% Total Inventory - 2,028 Comparing August, 2009 to August 2008, the number of active listings are down significantly in all categories (Detached - down 47%, Townhomes - down 38%, Condos - down 40%).  And, the number of sales compared to a year ago, are way up (Detached - up an astounding 330%, Townhomes - up 124%, Condos - up 107%). Going into the fall market, we do need more listings to meet current demand.  In particular, we nee ... Full Article...

New Listings - 241 Sold Listings - 202 Sale to List Ratio - 84% Total Inventory - 2,024 units

Remember when the GST was implemented?  Your Property Manager came to your Strata Council and told them they needed to budget an additional 7% on just about every expense to cover the GST.  The proposed HST will now add another 7% onto your Property Management fees, costs of major repairs, your plumber’s bill, your gardener’s bill, your gas bill, and just about every other expense that makes up your condo fees.  As a Council Member in my own Condo, I am wondering where our seniors a ... Full Article...

By the end of this week, the Westside listing inventory has dropped to its lowest level this year, and now stands at 2,033.  261 Properties sold in the week, compared to 248 new listings, a sale to list ratio of 105%.  The majority of sales were under $1 million, with properties under $500,000 being snapped up quickly.  Low interest rates, combined with high demand and low inventory has put pressure on prices.  As buyers recognize that low interest rates have stimulated the market as intended, ... Full Article...

New Listings - 185 Sold - 114 List to Sale Ratio - 62% Total Inventory 2,120 An anomoly this week - many of the price changes on current listings have gone up instead of down.  The Real Estate Board of Greater Vancouver released its July stats, which showed the highest number of sales for the month on record.  Many people miscontrue the "number of sales" with "selling prices", and it is possible that this has resulted in some sellers increasing their prices.

The Housing Price Index for July 2009 has just been released by the Real Estate Board of Greater Vancouver.  Here are the numbers for the West Side of Vancouver: Property Type Index Price 1 Year Change Detached $1,340,352  - 3.6% Townhouse $  699,385  - 4.5% Apartment $  469,550  - 2.6% The current busy pace of the market reflects pent-up demand, particularly from First Time Buyers.  Many buyers sat on the fence last Fall and early this year, waiting for catastrophic predictions to come tr ... Full Article...

New LIstings - 227 Sold Listings - 225 List to Sale Ratio - 99% Current Inventory - 2,099