Blog by Ann Hickey

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July 2016 - Market News



Tour Some of Vancouver’s Most Creative Home Designs

Looking for inspiration or do you just love good design? See amazing homes through wonderful tours being offered showcasing distinctive and inspiring residences. Learn how home owners and architects are preserving historic architectural integrity as well as creating unique design solutions to adapt to the ever changing modern family lifestyle.
Vancouver Heritage Foundation offers various tours all year. Be sure to check out one or all of their many summer tours:
  • Laneway House Tour-Saturday, October 22nd from 1pm-5pm
http://www.vancouverheritagefoundation.org/take-a-tour/laneway-house-tour/
  • Mid Century Modern House Tour-Saturday, September 24th from 1pm-5pm
http://www.vancouverheritagefoundation.org/take-a-tour/mid-century-modern-tour/
  • Walking Tours-Various dates and times
http://www.vancouverheritagefoundation.org/take-a-tour/walking-tours/
  • Free Map Guides
http://www.vancouverheritagefoundation.org/take-a-tour/map-guides/

  • West Vancouver Museum’s Home Tour-Saturday, July 9th from 12pm-4pm.
The West Vancouver Museum's 11th annual home tour takes place on July 9 from 12 to 4 p.m.  These selected homes reveal architectural characteristics that express true West Coast Modernism. There is a reception being held from 4pm-6pm at Eagle Harbour Yacht Club following the tour. More information can be found on their website.
http://westvancouvermuseum.ca/events_programs/special_events

  • Vancouver Modern Home Tour
Modern home aficionados will love touring the homes in the Vancouver Modern Home Tour. No date has been specified for this year but more information can be found via their website.  http://vancouver.modernhometours.com/

The market is strong as well as highly competitive so if you are thinking of buying or selling your home give me a call, I’d love to help.

MARKET OVERVIEW: Seller’s Market Remains Hot
Residential Detached

As the summer heat settles in, we remain in the midst of a strong sellers’ market. Greater Vancouver’s sales-to-active-listings ratio in June was 76 %. A seller’s market typically occurs when this ratio exceeds 20% for a sustained period of time. The information below can help you understand what the individual markets have been doing compared to one year ago. If you are thinking of buying or selling your home and would like to discuss the latest data hitting our markets, give me a call, I’d love to help.

Kicking off June with a bang, North Vancouver Gross Sales were up 36% coming in at $289,747,420 compared with $212,256,744 from June, 2015. The Average Unit Price in North Vancouver shot up a vigorous 38% in one year to $1, 882,197 from $1,360,620. Much like previous months, Active Listings fell 19% from 249 to 200 yet the Benchmark price and HPI were up 41.4% in North Vancouver.

West Vancouver’s speed of June sales dropped slightly but still very active compared to previous years.  West Vancouver overall Gross Sales were down 11% from one year ago. Units Listed also shrank 23%, from 216 to 165, from the previous year.  From June, 2015 to June 2016 the Average Price per Unit increased a strong 22% from $2,975,498 to $3,636,829. Even with a bit of a dip in Gross Sales and Units Sold, the Benchmark price for West Vancouver is up 37.8% in one year.

Vancouver West waned slightly with Gross Sales down from $800,606,713 to $636,032,180 comparatively from June 2015. Although the overall Gross Sales decreased 20%, the Benchmark Price for a home in Vancouver West rose 36.4% from $2,599,700 to $3,574,300. Interestingly there was not a change in Sold Year to Date figures but June on it’s own had a decrease of 35% units sold (236 vs 152) from the previous year. Overall Units Listed for the month were up 14% from 287 to 328.

Source: Real Estate Board of Greater Vancouver
 

              

                                                                                                                                
Benchmark Price: Estimated sale price of a typical property, based on a set of common qualities of homes within each market.

Price Index (HPI): Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales.


Ann Hickey
604 220-6249