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The Real Estate Board of Greater Vancouver (REBGV) has published their February 2011 market statistics. Buyers were getting an early start on Spring home shopping, as the market saw listings outpace the 10-year average in certain areas of the board. 

New listings were up 23.6 per cent as compared to February 2010, giving the influx of new buyers plenty of properties to choose from. Things are looking up, indeed!

 

I just finished uploading this Townhouse for sale, 48 1235 JOHNSON Street, Coquitlam, British Columbia

Incredibly peaceful yet conveniently located in the heart of Coquitlam. This bright, tasteful and extremely well cared for 2 bedroom townhome has one of the best locations within worry-free Creekside Place. Fantastic floorplan with vaulted entrance, skylight, gas fireplace, solarium, huge master bedroom, cheater ensuite and insuite storage. Minutes away from Coquitlam Centre, Douglas College, Aquatic Centre, Lafarge Lake, Public Library, Evergreen Cultural Centre, Westcoast Express, future Evergreen Line and all levels of Schools. Also provides easy access to Lougheed Hwy, Hwy 1 and Barnet Hwy. Your pets are welcome with a good size patio and yard to enjoy with trail system seconds away. Great price, best location, lovely home!

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We are proud to announce that this Mar 26th, 12:00 PM to 2:00 PM we will be hosting an Open House at 1235 JOHNSON Street in the Canyon Springs neighborhood, Coquitlam. This is an opportunity to visit this excellent Townhouse for sale in beautiful Canyon Springs.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Canyon Springs Townhouse for sale.

As always please do not hesitate to give me a call at 604-626-6066 if I can answer any questions before the open house, or if you would like to book a private showing.

Julie Tidiman
Sutton - 1st West Realty

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Property owners in British Columbia may be eligible for one or more of the grants and rebates listed below. Please review this comprehensive list and feel free to contact me if you have any questions about your eligibility.

1. Home Buyers’ Plan

Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. Canada Revenue Agency www.cra.gc.ca. Enter ‘Home Buyers’ Plan’ in the search box | 1.800.959.8287

2. GST Rebate on New Homes

New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. Canada Revenue...

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I just sold this Townhouse at 22 8250 209B St, Langley, BC Willoughby Heights.

View this recently sold Townhouse or see all my home sales

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I just sold this Apartment at 302 888 W 13TH AV, Vancouver, BC Fairview.

View this recently sold Apartment or see all my home sales

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The ecoENERGY retrofit and the Livesmart BC Grant program deadlines are fast approaching! 

In order to qualify for government incentives participants in the above programs must obtain their post-retrofit evaluation by March 31, 2011, or within 18 months of the pre-retrofit evaluation report, whichever comes first.

Due to the large volume of people applying for these grants, homeowners should schedule their final evaluation well in advance of their deadline.

Please visit the LiveSmart BC website for details of their Efficiency Incentive Program and visit Natural Resources Canada to learn more about the ecoENERGY Retrofit Grants and Incentives
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I just sold this Apartment at 107 1550 BARCLAY ST, Vancouver, BC West End.

View this recently sold Apartment or see all my home sales

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I just sold this House at 6 Eagle Cr, Port Moody, BC Heritage Mountain.

View this recently sold House or see all my home sales

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February Stats

REBGV reports increased housing demand in February

Demand for detached homes continues to be strong across Greater Vancouver, with particularly high sales volumes occurring in Richmond and Vancouver Westside.

For the past two months, the number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) in Greater Vancouver outpaced the 10-year average in both categories. From a historical perspective, February’s 3,097 home sales outpace the 2,742 home-sale average recorded in the region over the last ten years.

“We saw an increase in demand across our region last month as more buyers entered the market in advance of the spring season,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). “The intensity of this activity varied between communities. Our statistics tell us that single detached homes in Richmond and the west side of Vancouver remain the most sought after properties in our marketplace.”

Between November 2010 and February 2011, the MLSLink® Housing Price Index (HPI) benchmark price of a detached home in Richmond increased $190,739 to $1,099,679; in Vancouver West, detached home prices increased $222,185 to $1,850,072. In comparison, detached home prices across the region increased $51,762 between November 2010 and February 2011 to $848,645.

“To effectively analyse real estate statistics for the purpose of buying or selling a home, it’s critical to focus on your neighbourhood of choice because, like we see today, conditions and prices can fluctuate significantly within the same city or municipality,” Moldowan said.

Looking across the region, the REBGV reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,097 on the MLS® in February 2011. This represents a 70.3 per cent increase compared to the 1,819 sales recorded in January 2011, an increase of 25.2 per cent compared to the 2,473 sales in February 2010 and a 109.3 per cent increase from the 1,480 home sales in February 2009.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,693 in February 2011. This represents a 23.6 per cent increase compared to February 2010 when 4,606 properties were listed, and an 18.6 per cent increase compared to January 2011 when 4,801 homes were added to the MLS® in Greater Vancouver.

“With a sizeable increase in the number of properties coming onto the market for sale, there’s a good selection out there for buyers to choose from,” Moldowan said.

At, 11,925, the total number of residential property listings on the MLS® increased 14.2 per cent in February compared to last month and increased 5 per cent from this time last year.

Sales of detached properties on the MLS® in February 2011 reached 1,402, an increase of 42.6 per cent from the 983 detached sales recorded in February 2010, and a 138.9 per cent increase from the 587 units sold in February 2009. The benchmark price for detached properties increased 6 per cent from February 2010 to $848,645.

Sales of apartment properties reached 1,206 in February 2011, a 12.3 per cent increase compared to the 1,074 sales in February 2010, and an increase of 85.5 per cent compared to the 650 sales in February 2009. The benchmark price of an apartment property increased 2.2 per cent from February 2010 to $399,397.

Attached property sales in February 2011 totalled 489, a 17.5 per cent increase compared to the 416 sales in February 2010, and a 101.2 per cent increase from the 243 attached properties sold in February 2009. The benchmark price of an attached unit increased 2.3 per cent between February 2010 and 2011 to $507,118.

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