Spring is around the corner and the market is heating up!
Thank you all for your referrals and your repeat business. This is proving to be a very active year so far. Please remember we are here to answer any of your questions concerning your real estate investment. Also, we would like to remind you that we have a list of professionals that we highly recommend on our website under "Business Directory." If you are thinking of remortgaging, painting, putting on a new roof or renovating we have people that will take care of you in the same way that we do.
The real estate board has improved the statistic program. It is much more detailed by area and covers the last 5 years. Just give us a call and we would be happy to discuss the variations with you over the last 5 years in your area.
February Stats from the Real Estate Board of Greater Vancouver:
- The sales-to-active listing ratio of over 18% means we are seeing fairly balanced conditions in our market place as we move into the traditionally busy spring season.
- Last months listing count was the 2nd highest February total in Greater Vancouver since 1996.
- There are 14,050 residential properties listed on the MLS which is a 12% increase over January 2012
- Pricing can vary considerably depending on the neighbourhood and the property type.
- Benchmark price for all residential properties in REBGV sits at $670,900 - up 6% from February 2011
- Benchmark price for all residential in the Lower Mainland is $601,300 an increase of 6.5% from February 2011
- Benchmark price for Detached: $1,042,900 - 10.5% increase from February 2011
- Benchmark price for Attached Properites: $472,800 - 0.7% increase between February 2011 & 2012
- Benchmark price for Condo Properties: $373,300 - increased 2.8% from February 2011
What you may find interesting about Canada's Housing Market!
This information is very interesting as we know that we live in somewhat of a bubble in British Columbia wiht home prices. These figures represent Canada's Housing Market - worth a read! Download a copy HERE!
- more than 90% of Canadians see real estate as a good investment
- Buyers 25-34 make up 60% of first time buyers / 35-49 make up 25% of the first time buyers market
- 31% of Canadian first time buyers will look at 10 homes before purchasing
- $150,000 is the average outstanding principal on a mortgage
- 72% of Canadians with mortgages aspire to be mortgage free by 65 years of age.
Oh and by the way,.......if you know of someone who would appreciate the level of service we provide, please give us a call with their name and number. We will be happy to follow up and take great care of them. Don't forget our appreciation of $500.00 for each successful referral!