Contact leading realtor and relocation specialist CHRISTINE LOUW B.A.,LL.B. of REMAX Crest Realty Westside (Beach), at telephone 604 926 3936 or at email@example.com for assistance in selling or buying a Vancouver, West or North Vancouver house or condo or for real estate related information. You will be glad you did!
Are you waiting for the right moment to buy your new Vancouver house or condo? Unless you are moving down substantially in price, now may be the time you have been waiting for.
1. Prices are more reasonable,
2. mortgage interest rates are low and
3. there are sufficient properties for sale to give you a good choice.
Is this the best time to buy your new house or condo? That answer can only be given with certainty in the future but now does look like a good time.Sellers through their actions indicate that they think now is a good time for buyers by increasingly taking their property off the market in the expectation of better times in the near future.
Contact me for more information and to discuss your options.
REAL ESTATE MARKET TRENDS - Vancouver houses and condos, 2 May 2013
Finance minister Flaherty made the mortgage rules stricter in an effort to slow down the real estate market and has succeeded in doing so by restricting mortgage access at the entry level as well as the $1,000,000+ level.
Sellers are taking their properties off the market in the expectation that prices will increase while buyers hope prices will decrease. These opposite expectations keep the number of sales low.
- *In April 2013 the number of sales of residential properties decreased by 6.1% compared to April 2012 and increased by 11.9% compared to March 2013
- *In April 2013 the number of new listings was 3% lower than in April 2012 while the total number of listings was 1.2% higher than in April 2012.
- * The sales to active listings ration in April 2013 is 15.7%. This is the first time since May 2012 - when prices were at their peak - that this ratio is over 15%. There has been a modest increase in prices in the last three months.
- *Sales of Vancouver houses were 5.5% down compared to the previous April. The benchmark price of detached homes decreased by 5.2% in that time period and increased by 1.4% since January 2013.
- *Sales of Vancouver condos decreased by 11.6% and their benchmark price declined by 2.6% in 12 months but increased by 2.1% since January 2013.
- *In April 2013 the number of sales of townhomes increased by 5.8% compared to April 2012 and the benchmark price decreased by 3.5% in that time but increased by 1.2% since January of this year.
In April 2013
-- The price of West Vancouver houses changed by -5.4% between April 2013 and 2012. Few condos are sold in West Vancouver which makes the statistical data of no relevance. Many sellers have taken their property off the market for the time being.
-- Vancouver condo prices (Downtown condos, Kitsilano condos, UBC condos and those in Coal Harbour, Yaletown, West End, Fairview, etc) decreased 0.5% compared to April 2012 and the market value of a Vancouver West house declined by 8.5% in that time.
For more information about the local market click on "Vancouver real estate prices update"