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The Housing Market Scenario At the Greater Vancouver Area In 2010

The housing price at the Greater Vancouver Area in Canada has significantly increased in the present times. As per industry exerts, the residential real estate market has roared back in 2010 with the housing prices at or above pre-recession levels.  One of an interesting feature is that the housing sales have also increased notably at the beginning of the second quarter in 2010.

As per the reports of REBGV (Real Estate Board of Greater Vancouver), about 3,512 residential properties have been sold in April 2010. It is about 18.5% increase in comparison to 2,693 sales during the same month a year back and 9.1% increase (with 3,218 sales) from that of April 2008. The housing sales figure of April 2010 also signifies that there has been about 12% increase in comparison to March 2010.

There have been about 7,648 new listings (in April 2010) for attached, detached and apartment properties in the Greater Vancouver Area that amounts to about 64.5% increase as compared to the similar period in 2009. In comparison to March 2010, there has been about 9.2% increase in property listings. The sales of detached, attached and apartment properties have also increased remarkably in the past 1 year.

The housing prices have also increased during the similar time period. In the past 12 months, the HPI (Housing Price Index) benchmark for all residential real estate properties has increased from $499,021 (in April 2009) to $593,419 (in April 2010). The benchmark for detached, attached and apartment properties in April 2010 has increased by 21.2%, 16.4% and 16.9% respectively as compared to April 2009.

One of the major reasons behind the increased price of Vancouver homes is that the demand has been a lot more than the supply for the past 1 year. According to the industry experts, the housing price will continue to be higher in 2010. So, this is the ideal time for the Vancouverites to own a property before the price rises more. Moreover, the low mortgage rates may soon disappear along with the addition of 12% HST (‘Harmonized Sales Tax’, the combined federal-provincial tax) to the price of homes from July 1, 2010.

Due to the housing mortgage meltdown in US, Canadian lenders have become cautious about offering home loans to the borrowers. They’re assessing the financial condition of the mortgage borrower before originating a home loan. So, make sure that your finances are in order so that you can qualify for taking out a mortgage loan if you want to own a property in the Greater Vancouver Area, Canada.

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2538 W 13th Ave, Vancouver

A well established bed & breakfast in Kitsilano since 1997. Beautifully decorated & furnished to operate. This nine bedroom & eight bathroom house gives your family & guests enough space. Central location. Quiet neighborhood, successful business. Excellent schools, don’t miss.

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1607 W 58th Ave, Vancouver (NEW and Private!)

Beautiful corner lot in prime South Granville location. Over 4,500 sf, sitting on a 69.8 x 112 (7,818 sf) lot. Five bedroom with 4 ensuites, 6 bathroom, 2 kitchens with top of the line appliances includes Subzero stainless steel fridge and appliances. Air-conditioning, radiant heat, hardwood flooring, lots of mouldings and extra height ceiling. Beautiful landscaped yard area with finished pond and water fountain. Close to school, shopping and easy to go to Richmond Airport and Vancouver Downtown.

Attn: This Property Is Exclusive For Sale By Angel Wang and Will Not Be Listed On MLS.

Please contact Angel for more details here.

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5305 Trafalgar St, Vancouver

44×125 corner lot w/sunny West facing yard & sundeck. Totally renovated contemporary 5 bdrm home. All new appliances, imported Italian kitchen, in floor radiant heating, B/I vacuum. 4 bdrms & 3 baths on upper level, office space & nanny room on lower level. Attached 2 car garage. Catchment school, Point Grey Secondary, Kerrisdale Elementary.

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Compare Vancouver Real Estate Market 2008 and 2009

Vancouver real estate market continues growing in 2009. Although the average price for single family home is 5% lower than which of last year, the real estate buying and selling transactions and volume is growing by over 100%.

In this video I review Vancouver real estate market and its stats. Sorry I only speak Chinese in this video.

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Greater Vancouver home sales more than double in August

Vancouver-area home sales more than doubled in August as buyers continued to take advantage of low interest rates and relatively attractive prices. Last month’s 3,400 sales represent an increase of 120 per cent from a year ago, according to the Real Estate Board of Greater Vancouver.

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201-3088 West 41 St Ave., Vancouver

(Sold in September 2009)

Popular Lanesborough Building by Polygon! This charming 1 bedroom + solarium + den (886 SQF) home offers gracious living in Kerrisdale. Excellent open plan features gourmet kitchen with granite countertop, spacious solarium and den (can be used as second bedroom, home office, etc), and bright living room with a beautiful tree outlook. Quality throughout. In floor hot water radiant heat, crown mouldings, gas fireplace, large walk-in closet, security system, new roof, new flooring, and 2-5-10 year warrant in effect. Adult oriented building (Age: 45+)& pet friendly. Best suites under 500K in this area.

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1403-1003 Pacific St., Vancouver

Spectacular 180 degree views over Granville island, kits pt and English bay. This 2 bedroom and solarium 1240 sqf suites boasts exceptional comfortable living, with finest layout, contemporary shelving and lighting, maple floors puls spacious master bedroom with 3 closets and Italian tile and Tuscan style ensuite bath. More than a home, a lifestyle.