East 14th Avenue East Vancouver - Mount Pleasant List Price $849,000 Lot
Size 30 x 122 = 3600 sq ft, RT-5 zoning Interior: 1612 sq ft
Estate & Beyond Newsletter...
Each month we will update
you with lots of great information including: the latest Real Estate Board statistics;
graphs showing what is happening with the Vancouver real estate market; our ever
popular monthly feature of the most expensive & least expensive Vancouver
properties sold each month;our current listings and recent sales; plus many other
interesting articles including how to green your home, renovation tips & much
today & get "in the know".
is often a lot of confusion, and misinformation about the real estate market in
Vancouver. The media likes to create "news", so often real estate market
information is given a sensational "breaking news headline" - that perhaps
sometimes misconstrues the facts somewhat.
attempt with this market update is to give you the facts about what has been happening
in the Vancouver market focusing on the Vancouver West Side and Vancouver East
Side. Remember, if you need a Vancouver Realtor don't hesitate to call, as we
specialize in both Vancouver West Side and East Vancouver Real Estate
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East Vancouver Houses
Estimated sale price of a benchmark property. Benchmarks represent a typical property
within each market.
Steady trends continue
in the Greater Vancouver housing market
B.C. December 3, 2013 Consistent home sale and listing activity
has allowed balanced market conditions to prevail in the Greater Vancouver housing
market for most of 2013.
Real Estate Board of Greater Vancouver (REBGV) reports that residential property
sales in Greater Vancouver reached 2,321 on the Multiple Listing Service®
(MLS®) in November 2013. This represents a 37.7 per cent increase compared
to the 1,686 sales recorded in November 2012, and a 12.8 per cent decline compared
to the 2,661 sales in October 2013.
Last months sales were 1.2 per
cent below the 10-year sales average for the month, while new listings were 1.5
per cent above the 10-year November average.
Weve seen steady
and consistent trends the Greater Vancouver housing market for much of this year,
Sandra Wyant, REBGV president said. This years activity has resulted
in gradual and modest increases in home prices of approximately one per cent over
the last 12 months in the region.
New listings for detached, attached
and apartment properties in Greater Vancouver totalled 3,245 in November. This
represents a 17.7 per cent increase compared to the 2,758 new listings reported
in November 2012 and a 24.8 per cent decline compared to the 4,315 new listings
in October of this year.
The total number of properties currently listed
for sale on the MLS® in Greater Vancouver is 13,986, a 10.9 per cent decrease
compared to November 2012 and an 8.3 per cent decline compared to October 2013.
sales-to-active-listings ratio currently sits at 16.6 per cent in Greater Vancouver.
The MLS® Home Price Index composite benchmark price for all residential properties
in Greater Vancouver is currently $603,000. This represents a 1 per cent increase
compared to November 2012.
Sales of detached properties reached 926 in
November 2013, an increase of 47.2 per cent from the 629 detached sales recorded
in November 2012, and a 1.1 per cent increase from the 916 units sold in November
2011. The benchmark price for detached properties increased 1.1 per cent from
November 2012 to $924,800.
Sales of apartment properties reached 969 in
November 2013, an increase of 29.2 per cent compared to the 750 sales in November
2012, and a decline of 3.1 per cent compared to the 1,000 sales in November 2011.
The benchmark price of an apartment property increased 0.8 per cent from November
2012 to $367,800.
Attached property sales in November 2013 totalled 426,
an increase of 38.8 per cent compared to the 307 sales in November 2012, and a
4.1 per cent decline compared to the 444 attached properties sold in November
2011. The benchmark price of an attached unit is currently $458,000, which is
a 0.8 per cent increase from November 2012.
The real estate industry
is a key economic driver in British Columbia. In 2012, 25,032 homes changed ownership
in the Boards area generating $1.07 billion in economic spin-off activity
and creating an estimated 7,125 jobs. The total dollar value of residential sales
transacted throughout the MLS® system in Greater Vancouver totalled $18.6
billion in 2012. The Real Estate Board of Greater Vancouver is an association
representing more than 11,000 REALTORS® and their companies. The Board provides
a variety of member services, including the Multiple Listing Service®. For
more information on real estate, statistics, and buying or selling a home, contact
a local REALTOR® or visit www.rebgv.org.
provided with permission by the Real Estate Board of Greater Vancouver (REBGV)
laneway house is a smaller, detached home located where the garage would normally
go on a single-family lot (RS zones). Laneway houses contribute to the overall
sustainability of the city. They give people more opportunities to live close
to where they work, shop, and play, and they make the city's urban lanes more
green, livable, and safe. Laneway housing also contributes to the amount of affordable
rental housing available in the city. Laneway houses cannot be sold independently
of the main house on the lot, there is no separate title for a laneway house,
nor is it part of a strata lot (i.e. 1/2 duplexes, townhouse, or coach houses).
a property is not subdivided when a laneway house is built.
Housing Update - June 2013Full
Report - from City of Vancouver website:
report concludes the review of the laneway housing (LWH) program in single family
areas, as directed by Council, by providing an update on the LWH initiative and
recommending amendments to the LWH regulations and guidelines to address key issues
that have been identified though the monitoring of LWH development. The proposed
amendments address impacts on neighbouring properties, provision of parking, livability
of the units and length of the permitting process. They aim to improve the fit
of LWH into neighbourhoods by: encouraging the development of more one
storey LWH which have fewer impacts in terms of height and massing on neighbouring
sites, are less expensive to build, and would provide improved access for those
with mobility challenges; requiring one external permeable parking space
to support the provision of on-site parking; providing more floor area
for living and storage space; and streamlining the permitting process
by allowing an outright review process for one storey LWH. Additionally, this
report recommends expansion of the LWH program to the remaining RS zones to equalize
opportunity for LWH across all single family areas.
of the first 100 laneway houses were added onto sites while retaining the existing
main house; 61 were part of total site redevelopment (a new laneway house and
a new main house). Overall, for approximately every 8 new single family homes
developed, 1 has included a new laneway house.
the first 100 laneway houses: - 67% are 1 bedroom units; 28% are 2 bedroom
units; 5% are studio units. - 59% provide the minimum 1 onsite parking space;
41% provide 2 or more spaces. - Rental rates range between $1000 - $2100 for
1 2 bedroom laneway houses in varying locations, with varying quality of
finishes. These rates are consistent with CMHC rent levels for recent, purpose-built
rental housing projects.
28th, 2009 - City of Vancouver Council, approved unanimously, the plan to
allow laneway housing. This will affect almost 70,000 single-family properties
in Vancouver that are now potentially eligible to add a small house in their backyard.
This has been a much debated about possible solution Vancouver's extremely low
vacancy rate of .3%.
information about Green Real Estate and how you can make educated environmentally
friendly decisions about your home, check out my new Green
Living Sectionfor some great Green links. Find out about grants
for Green renovations.