Nairn Avenue East Vancouver - Champlain Heights List Price $384,800
3 bdrm, 2 bthrm 1349 sq. ft. - Townhouse
East Pender East Vancouver - Hastings Sunrise List Price $775,000
6 bdrm, 4 bthrm Lot Size 30 x 122 = 3600 sq ft, RT-5 zoning Interior:
2550 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. February 4 2014.
The first month of 2014
saw home sale and listing totals outpace historical averages in the Greater Vancouver
The Real Estate Board of Greater Vancouver (REBGV) reports
that residential property sales in Greater Vancouver reached 1,760 on the Multiple
Listing Service® (MLS®) in January 2014. This represents a 30.3 per cent
increase compared to the 1,351 sales recorded in January 2013, and a 9.9 per cent
decline compared to the 1,953 sales in December 2013.
Last month's sales
were 7.2 per cent above the 10-year sales average for the month.
Greater Vancouver housing market has been in a balanced market for nearly a year.
This has meant steady home sale and listing activity accompanied by stable home
prices," Sandra Wyant, REBGV president said.
New listings for detached,
attached and apartment properties in Greater Vancouver totalled 5,345 in January.
This represents a 4.2 per cent increase compared to the 5,128 new listings reported
in January 2013.
Last month's new listing count was 17.7 per cent higher
than the region's 10-year new listing average for the month.
number of properties currently listed for sale on the Greater Vancouver MLS®
is 12,602, a 4.9 per cent decline compared to January 2013 and a nine per cent
increase compared to December 2013. The MLS® Home Price Index composite
benchmark price for all residential properties in Metro Vancouver is currently
$606,800. This represents a 3.2 per cent increase compared to January 2013.
the sales-to-active-listings ratio at 14 per cent, the region remains in balanced
"If you're looking to sell your home in a balanced
market, it's critical that your list price is reflective of current market conditions,"
Sales of detached properties in January 2014 reached 728,
an increase of 34.3 per cent from the 542 detached sales recorded in January 2013,
and a 10.5 per cent increase from the 659 units sold in January 2012. The benchmark
price for a detached property in Greater Vancouver increased 3.2 per cent from
January 2013 to $929,700.
Sales of apartment properties reached 753 in
January 2014, an increase of 30.7 per cent compared to the 576 sales in January
2013, and an increase of 14.6 per cent compared to the 657 sales in January 2012.
The benchmark price of an apartment property increased 3.7 per cent from January
2013 to $371,500.
Attached property sales in January 2014 totalled 279,
an increase of 19.7 per cent compared to the 233 sales in January 2013, and a
6.9 per cent increase from the 261 attached properties sold in January 2012. The
benchmark price of an attached unit increased 1.7 per cent between January 2013
and 2014 to $457,700.
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.
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.