Updates › January 2015

New Listing 32 - 7370 Stride Ave, Burnaby, British Columbia


V1101360 - 32 - 7370 Stride Ave, Burnaby, British Columbia, CANADAView my new listing for sale SOLD at 32 - 7370 Stride Ave, Burnaby and currently listed at $369,000.SOLD

MAPLEWOOD TERRACE offers beautiful 2 level townhome with fully fenced PRIVATE BACKYARD! This immaculate home is situated on quiet side of the complex.  Engineered flooring throughout main level, gourmet kitchen includes plenty of cabinets, dual sink, granite countertop, breakfast bar, stainless steel appliances, pot lights and tiled floors. Livingroom features granite surround fireplace, large bay window with bench seat. Contemporary open floor plan leaves no wasted space. Insuite laundry, walk in closet in master bedroom, easily fits king size bed, 2nd bedroom with built-in closet. Enjoy 351sf of OUTDOOR SPACE! Perfect for entertaining & BBQ's. 2 PATIOS + BALCONY + fully fenced BACKYARD! Sliding door to balcony of the dining area, entrance deck is almost 200sf.! This suite offers the convenience of your own fully secured parking right outside your basement door entrance providing direct PRIVATE ACCESS from the suite.  BONUS 2 side-by-side PARKING! Solid well-maintained BOUTIQUE complex with only 64 homes. 2 years remaining on HPO insurance.  Low monthly strata fee of $149/ month. Affordable alternative to condominium.  Move-in ready. 'Central Location' walking distance to Highgate Village, Edmond skytrain, transit, schools, brand new public library and Edmonds Community Centre.  Only minutes away from Ernie Winch Park, Langley Farmers Market and a 10 minute drive to Metrotown.

Consumer Demand in 2014 Strongest in Five Years


Vancouver, BC – January 13, 2015. TheBritish Columbia Real Estate Association (BCREA) reports that a total of 84,049 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2014, up 15.2 per cent from 2013. After lagging for several years, BC home sales eclipsed the ten-year average of 82,000 units and the 15-year average of 83,600 units. Total sales dollar volume was $47.8 billion, an increase of 21.9 per cent from 2013. The average MLS® residential price in the province rose to $568,405, up 5.8 per cent from the previous year.

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Prior to 2009, one would need to look back to the 2001-2002 period to find a stronger year-over-year percentage gain in BC home sales.

Home buyers were out in force in nearly every region of the province, with unit sales climbing 8 to 25 per cent in all BC real estate boards, except Kamloops where the number of transactions dipped nearly 5 per cent. “Stronger consumer demand not only pulled down the inventory of homes for sale, but also firmed market conditions throughout the province,” added Muir.

In December, BC residential sales dollar volume was up 18.2 per cent to $2.97 billion, compared to the same month last year. Residential unit sales were up 14.7 per cent to 4,426 units, while the average MLS® residential price was up 3 per cent at $585,718.

 



Home sale and listing activity reach historical norms in 2014


It was a typical year for the Metro Vancouver housing market in certain respects. The region’s home sale and listing totals for 2014 both rank fifth when compared against the past 10 years of activity, while home prices increased.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2014 reached 33,116, a 16.1 per cent increase from the 28,524 sales recorded in 2013, and a 32.3 per cent increase over the 25,032 residential sales in 2012.

The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver increased 2.4 per cent in 2014 to 56,066 compared to the 54,742 properties listed in 2013. Looking back further, last year’s total represents a four per cent decline compared to the 58,379 residential properties listed for sale in 2012.

“While home buyer and seller activity created balanced market conditions within the region, we also experienced some upward pressure on home prices over the course of the year,” Ray Harris, REBGV president said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $638,500. This represents a 5.8 per cent increase compared to December 2013.

“Detached homes continue to be the most sought after property type in our market,” Harris, said. “Detached homes in Metro Vancouver have increased 8.1 per cent in value over the last 12 months while townhome and condominium properties have increased 4.5 and 3.5 per cent over the same period.”

December summary

Residential property sales in Greater Vancouver totalled 2,116 in December 2014, an increase of 8.3 per cent from the 1,953 sales recorded in December 2013 and a 15.9 per cent decline compared to November 2014 when 2,516 home sales occurred.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,888 in December 2014. This represents a 1.7 per cent increase compared to the 1,856 units listed in December 2013 and a 37.4 per cent decline compared to November 2014 when 3,016 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 10,320, a 10.7 per cent decline compared to December 2013 and a 17.8 per cent decrease compared to November 2014.

Sales of detached properties in December 2014 reached 833, an increase of 9.3 per cent from the 762 detached sales recorded in December 2013. The benchmark price for detached properties increased 8.1 per cent from December 2013 to $1,002,200.

Sales of apartment properties reached 912 in December 2014, an increase of 7.3 per cent compared to the 850 sales in December 2013.The benchmark price of an apartment property increased 3.5 per cent from December 2013 to $380,700.

Attached property sales in December 2014 totalled 371, an increase of 8.8 per cent compared to the 341 sales in December 2013. The benchmark price of an attached unit increased 4.5 per cent between December 2013 and 2014 to $476,800.