Overseas investors are snapping up properties in Canada's largest cities, driving up prices and pushing ordinary Canadians out of the housing market, observers say.

Real estate experts call it the "new reality," and the high price paid for a north Toronto bungalow is the latest evidence.

This month, the three-bedroom bungalow, circa the 1960s and without much updating, sold for $421,800 over the asking price, creating a buzz among agents and other buyers.

To read the full article follow this link:         http://www.cbc.ca/news/canada/story/2012/03/14/real-estate-overseas-investors.html

 

 

Real Estate Board of Greater Vancouver releases Sales Statistics for February 2012

http://www.realtorlink.ca/portal/server.pt/document/3371017/rebgv_stats_package%2C_february_2012_pdf

For February 2012 there were a total of 209 sales in North Vancouver. This number is down 9.9% from February 2011 which had 232 sales at it's month end. Although this may apprear to be a downwards trend in market activity, sales are still quite high when comparing February of 2010 which had 172 sales.

A similar trend has followed with new listings. There were 411 new listings activated in February of 2012 for North Vancouver. This number is down 8.5% from February 2011 which had 449 new listings. Again, these numbers are still quite high comparing them to February of 2010 which had 277 new listings.

The average sale price for a detached home in North Vancouver for February 2012 is $1,086,760 (up 9.1% from February 2011)

The average sale price for an attached homes in North Vancouver for February 2012 is $730,523 (up 13.2% from February 2011)

The average sale price for an apartment home in North Vancouver for February 2012 is $394,334 (up 3% from February 2011)

There are currently 35 single family homes for sale in the Ambleside area of West Vancouver ranging in price from $1,318,000 for a 4 bedroom home at 1507 Haywood Avenue to $5588000 for a 7 bedroom home at 1515 Ottawa Avenue.

The average days on market is 71 days and the median days on market is 30 days. The average price is $2,585,074 and the median price is $2,680,000.

There has been 1 price increase and 4 price reductions on the 35 homes for sale.  The highest price reduction was 6% from $1,888,000 to $1,785,000.

Number of Bedrooms in Current 35 Homes For Sale in Ambleside

There are 1  two (2) bedroom homes
There are 3 three (3) bedroom homes
There are 17 four (4) bedroom homes
There are 6 five (5) bedroom homes
There are 7 six (6) bedroom homes
There are 1 seven (7) bedroom homes

Price Range of Current 35 Homes For Sale in Ambleside

$ 1.3 - 1.4 million –  3 homes
$ 1.4 - 1.5 million –  0 homes
$ 1.5 - 1.75 million –  2 homes
$ 1.75 - 2.0 million –  5 homes
$ 2.0 - 2.5 million – 5 homes
$ 2.5 - 3.0 million – 10 homes
$ 3.0 - 4.0 million – 6 homes
$ 4.0 - 5.0 million – 1 homes
$ 5.0 - 6.0 million – 1 homes
$ 6.0 - 7.0 million – 0 homes
$ 7.0 - 10.0 million – 0 homes
 $10 million plus – 0 homes

There are currently 27 single family homes for sale in the Dundarave area of West Vancouver ranging in price from $ 1,575,000 for a 2 bedroom home at 2487 Kings Avenue to $ 14,800,000 for a 4 bedroom home at 2626 Bellevue Avenue.

The average days on market is 62 days and the median days on market is 23 days. The average price is $3,957,926 and the median price is $2,980,000.

There have been 0 price increases and 3 price reductions on the 27 homes for sale.  The highest price reduction was 7% from $2,120,000 to $1,988,000.

Number of Bedrooms in Current 27 Homes For Sale in Dundarave

There are 2  two (2) bedroom homes
There are 3 three (3) bedroom homes
There are 15 four (4) bedroom homes
There are 7 five (5) bedroom homes
There are 0 six (6) bedroom homes
There are 0 seven (7) bedroom homes

Price Range of Current 27 Homes For Sale in Dundarave

$ 1.3 - 1.4 million –  0 homes
$ 1.4 - 1.5 million –  0 homes
$ 1.5 - 1.75 million –  2 homes
$ 1.75 - 2.0 million –  2 homes
$ 2.0 - 2.5 million – 4 homes
$ 2.5 - 3.0 million – 7 homes
$ 3.0 - 4.0 million – 7 homes
$ 4.0 - 5.0 million – 2 homes
$ 5.0 - 6.0 million – 0 homes
$ 6.0 - 7.0 million – 0 homes
$ 7.0 - 10.0 million – 1 homes
 $10 million plus – 2 homes

There are currently 17 single family homes for sale in the Queens area of West Vancouver ranging in price from $1,788,000 for a 4 bedroom home at 2021 27th Street to $4,288,000 for a 5 bedroom home at 2362 Orchard Lane.

The average days on market is 72 days and the median days on market is 50 days. The average price is $3,151,500 and the median price is $3,184,000.

There have been 0 price increases and 3 price reductions on the 17 homes for sale.  The highest price reduction was 3% from $2,268,000 to $2,198,000.

Number of Bedrooms in Current Queens Area 17 Homes For Sale

There are 0 two (2) bedroom homes
There are 3 three (3) bedroom homes
There are 3 four (4) bedroom homes
There are 7 five (5) bedroom homes
There are 1 six (6) bedroom homes
There are 2 seven (7) bedroom homes

Price Range of Current 17 Queens Area Homes For Sale

$ 1.3 - 1.4 million –  0 homes
$ 1.4 - 1.5 million –  0 homes
$ 1.5 - 1.75 million –  0 homes
$ 1.75 - 2.0 million –  1 homes
$ 2.0 - 2.5 million – 3 homes
$ 2.5 - 3.0 million – 4 homes
$ 3.0 - 4.0 million – 6 homes
$ 4.0 - 5.0 million – 2 homes
$ 5.0 - 6.0 million – 0 homes
$ 6.0 - 7.0 million – 0 homes
$ 7.0 - 10.0 million – 0 homes
 $10 million plus – 0 homes

Real Estate Board of Greater Vancouver releases Sales Statistics for January 2012

http://www.rebgv.org/sites/default/files/Jan%202012%20REBGV%20Stats%20Package.pdf

 

As of January 1, 2012 In WEST VANCOUVER there are 318 active LISTINGS for Detached Homes, 23 Townhomes and 69 Condos. In the same period of time 3 Detached homes have SOLD, and 2 Condos SOLD. Call Jennie for current market updates.

 What is happening with Property Assessments in Greater Vancouver areas from the Real Estate Board of Greater Vancouver
http://www.rebgv.org/property-assessment-notice

As of January 1, 2012 in NORTH VANCOUVER there are 181 DETACHED HOMES  listed, 303 Condos and 59 Townhomes. In the same time period 5 DETACHED HOmes have sold, 3 Condos and 1 Townhome.  Call Jennie for current market updates.

I just finished uploading this House for sale, 4375 STEARMAN Ave, West Vancouver, British Columbia

Great stylish renovated home in fabulous neighbourhood, steps to Stearman Beach. Bright and airy. 4 bedrooms, 3 1/2 bathrooms (inc. legal 1 bedroom suite limited kitchen), s/s app., granite counters, vaulted living area skylights, bright and spacious outlook. Large sunny lot. Perfect for family or couple who want income from suite or incorporate back into living area with large rec. room. Close to store, school, bus. A pleasure to show! Measurements are approx. and should be confirmed by buyer.