878
East 38th Avenue East Vancouver - Fraser List Price $899,900
6 bdrms, 2 bthrms Lot 33 x 122 = 4026 sq. ft. 2792 sq. ft.
SOLD
756
East 23rd Avenue East Vancouver - Cedar Cottage / Fraser List
Price $1,098,800 4 bdrms, 2 bthrms Lot 33 x 122 = 4026 sq. ft. 2525
sq. ft.
Real
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
more! Sign-up
today & get "in the know".
There
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.
Our
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.
Type
of Property
AREA
Benchmark
Price*
1
Month Change %
3
Month Change %
6
Month Change %
1
Year Change %
3
Year Change %
5
Year Change %
DETACHED
East Vancouver Houses
$901,200
1.6%
3.7%
6.0%
8.8%
16.3%
50.0%
Vancouver
West Houses
$2,201,600
1.2%
2.7%
5.5%
6.6%
7.3%
63.2%
TOWNHOUSE
East
Vancouver
$509,900
1.1%
-1.6%
0.4%
-2.4%
3.4%
20.2%
Vancouver
West
$700,300
0.4%
0.5%
-0.5%
-0.4%
3.3%
26.3%
APARTMENT
East
Vancouver
$319,400
0.2%
3.6%
4.1%
4.7%
6.6%
21.7%
Vancouver
West
$489,400
-0.3%
1.5%
4.9%
3.5%
4.1%
21.0%
*BENCHMARK
PRICE: Estimated sale price of a benchmark property. Benchmarks represent a typical
property within each market.
Spring buyers and sellers
emerge in the Greater Vancouver housing market
VANCOUVER,
B.C. – May 2, 2014 Home buyers and sellers became more active in the
Greater Vancouver housing market in April.
The Real Estate Board of Greater
Vancouver (REBGV) reports that residential property sales in Greater Vancouver
reached 3,050 on the Multiple Listing Service® (MLS®) in April 2014. This
represents a 16.1 per cent increase compared to the 2,627 sales recorded in April
2013, and a 15.5 per cent increase compared to the 2,641 sales in March 2014.
Last month's sales were 5.2 per cent below the 10-year sales average for
April of 3,217.
The sales-to-active-listings ratio currently sits at 19.7
per cent in Greater Vancouver, which is the highest this measure has been since
June 2011.
"We saw steady increases in home seller and buyer activity
in April, which is typically the case in the spring months," Ray Harris,
REBGV president said. "People often look to buy or sell their home this time
of year as the school year draws to a close and the summer holiday season is still
a few months away," Harris said.
New listings for detached, attached
and apartment properties in Greater Vancouver totalled 5,950 in April. This represents
a 1.3 per cent increase compared to the 5,876 new listings in April 2013 and a
12.7 per cent increase from the 5,281 new listings in March. Last month's new
listing count was 1.2 per cent higher than the region's 10-year new listing average
for the month.
The total number of properties currently listed for sale
on the MLS® system in Greater Vancouver is 15,515, a 7.3 per cent decline
compared to April 2013 and a 7.2 per cent increase compared to March 2014.
"Home
prices in the region continue to show steady, yet modest, increases when compared
to last year," Harris said.
The MLS® Home Price Index composite
benchmark price for all residential properties in Metro Vancouver is currently
$619,000. This represents a 3.6 per cent increase compared to April 2013.
Sales
of detached properties in April 2014 reached 1,336, an increase of 25.6 per cent
from the 1,064 detached sales recorded in April 2013, and an 18.7 per cent increase
from the 1,126 units sold in April 2012. The benchmark price for detached properties
increased 4.7 per cent from April 2013 to $956,700
Sales of apartment
properties reached 1,172 in April 2014, an increase of 11.4 per cent compared
to the 1,052 sales in April 2013, and a 1.5 per cent decline compared to the 1,190
sales in April 2012. The benchmark price of an apartment property increased 2.6
per cent from April 2013 to $375,500.
Attached property sales in April
2014 totalled 542, a 6.1 per cent increase compared to the 511 sales in April
2013, and a 12.2 per cent increase over the 483 attached properties sold in April
2012. The benchmark price of an attached unit increased two per cent between April
2013 and 2014 to $464,400.
The
real estate industry is a key economic driver in British Columbia. In 2013, 28,524
homes changed ownership in the Board's area, generating $1.84 billion in spin-off
activity and 13,977 jobs. The total dollar value of residential sales transacted
through the MLS® system in Greater Vancouver totalled $22 billion in 2013.
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.
Information
provided with permission by the Real Estate Board of Greater Vancouver (REBGV)
Vancouver
Laneway Housing
A
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.
Laneway
Housing Update - June 2013Full
Report - from City of Vancouver website:
This
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.
39
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.
Of
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.
July
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%.
Concerns about livability, parking, density all
come to a forefront with this hot topic. Is this the solution to Vancouver's problem
of affordable housing? Read on.... Full
story from Vancouver Sun & Vancouver Province.
Green
Real Estate
For
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.
