Vancouver Realty Online

Vancouver Realty Online presents our Downtown Vancouver Market Update for the period running from March 8 – March 15 courtesy susankeevil.com…

Downtown Attached Market Update March 8 – March 15 :

New attached listing supply trended upwards for the second consecutive week following the 2010 Winter Olympic games as we moved towards the Spring market. We saw a quartlery high of 316 new attached listings (up from 290 new attached listings in the previous period) this past week with 190 or approximately 66% of those falling in the downtown markets. The West End and downtown core continued to be the most active markets on the supply side with 35 and 104 new listings respectively. The spring market is historically a busy one for the Vancouver West neighbourhoods, and the regular trends are being accentuated by various Olympic pressures resulting in a slight saturation on the attached supply-side.

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We are proud to present our Westside market reports for the period running from March 8 – March 15 courtesy susankeevil.com…

Westside Vancouver Attached Report March 8 – March 15 :

Post-Olympic supply trending continued to increase this past week as we saw 316 new attached listings across Vancouver West (up from 290 in the previous period) with 126 or 40% of those listings falling in the Westside neighbourhoods (up from 111 new attached listings in the previous week). Kitsilano remained the most active market on the supply-side with 38 new attached listings or roughly 30% of Westside supply. The Westside accounted for a slightly higher ratio of overall supply this past week with 40% of all new attached listings (compared with 38% of all listings in the previous period).

Please click HERE for the full article.

Westside Vancouver Detached Report March 8 – March 15 :

New listing supply continued to outpace confirmed sales volume in the Westside detached market this past week as we saw 83 new detached listings across the Westside neighbourhoods (up from 64 new listings in the previous week). Dunbar and Cambie remained the most active areas with 13 and 9 new detached listings respectively. Mid-March has been a historically popular period to list detached homes; especially in established Westside neighbourhoods like Dunbar and Kitsilano. We may be witnessing a relative increase due to slight after-shocks following the 2010 Winter Olympics, though we expect the effect to be felt more accutely in the attached markets (especially downtown).

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We are proud to present our Westside market reports for the period running from February 22 – March 1 courtesy susankeevil.com…

Westside Vancouver Attached Report February 22 – March 1 :

The Westside neighbourhoods saw a post-Olympic recovery in supply numbers this past week with 77 new attached listings in the Westside markets (or 41% of the overall 189 new active listings over Vancouver West). Kitsilano once again posted the strongest attached supply figures with 19 new attached listings. We expect a steady increase in new listing activity after the closing of the Olympics as buyers bring their homes on the market, and short-term Olympic rental also also affect supply.

Please click HERE for the full article.

Westside Vancouver Detached Market Report February 22 – March 1

The Westside Detached market returned to pre-Olympic levels this past week after posting strong gains going into the 2010 Games. We saw 58 new detached listings on the Westside (down from approximately 80 per week in the periods prior), with Cambie and Dunbar remaining the strongest markets with 10 and 9 new listings respectively. The detached market on the Westside had been quite hot on the buyer side through the end of January and as such we saw quite a supply increase through the first two weeks of February.

Please click HERE for the full article.

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Vancouver Realty Online presents our Downtown Vancouver Market Update for the period running from February 22 – March 1 courtesy susankeevil.com…

Downtown Attached Market Update February 22 – March 1 :

As the hugely successful Vancouver 2010 Olympic games come to a close we see a rebound in new listing supply with 189 new listings across Vancouver West this past week with 112 sales or 59% of overall volume falling in the downtown markets. The downtown core continued to account for roughly 50% of all solds downtown with 59 new attached listing; False Creek North grabbed the ’silver’ with 21 new attached listings.

Please click HERE for the full article.

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Federal rules tightened slightly yesterday when a new set of mortgage restricting criteria were announced in Ottawa. Finance Minister Jim Flaherty was quick to assure the media, however; that the changes were not in response to a ‘housing bubble’, but a proactive step to assure the market stays responsible…

Vancouver Sun, February 16, 2010

Federal rules introduced Tuesday to tighten mortgage requirements will squeeze the purchasing power of the average Metro Vancouver buyer by $40,000 to $50,000, market observers say.

Finance Minister Jim Flaherty, amid warnings that too many Canadians are overextending themselves to take cheap, variable-rate mortgages, said buyers who want insured high-ratio mortgages will need to meet tougher requirements.

-Derrick Penner, Vancouver Sun

Please Click HERE for the full article.

For information on how these changes may affect you, please contact Susan today at (604)970-3658.

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