Posted on
April 28, 2008
by
Matt France (RE/MAX Masters Realty)
Below is a quote from an April 2, 2008 news release from the Real Estate Board of Greater Vancouver, which describes how sales are bit down, there are a more listings, and prices continue to rise with over 10% increases this year. Keep in mind that this news release was issued before the last 1/2% interest rate drop which will fuel real estate purchases. If you would like more information on this, I have the news release, which has specific statistics and graphs for different areas.
VANCOUVER, B.C. – April 2, 2008
– The Real Estate Board of Greater Vancouver (REBGV) reports that while
there were fewer housing sales in March 2008 compared to last year, residential prices continued to climb. Residential property sales in Greater Vancouver totalled 2,997 in March 2008, a decline of 16.3 per cent from the 3,582 residential sales recorded in March 2007, and a decline of 25.7 per cent compared to the 4,033 sales in March 2006. New listings for detached, attached and apartment properties increased four per cent to 5,674 in March 2008 compared with March 2007, when 5,456 new units were listed. “The market is continuing to balance, with sales and listings beginning to re-align with our 10-year averages,” says REBGV president, Dave Watt. “The selection of inventory hitting the market is wider than we have seen in the past few years, which gives prospective buyers more choices.” Sales of detached properties declined 20.2 per cent to 1,116 from the 1,399 detached sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 12.1 per cent from March 2007 to $764,616. Sales of apartment properties in March 2008 declined 10.6 per cent to 1,370, compared to 1,532 sales in March 2007. The benchmark price of an apartment property increased 11.5 per cent from March 2007 to $389,609. Attached property sales in March 2008 are down 21.5 per cent to 511, compared with the 651 sales in March 2007. The benchmark price of an attached unit increased 10.6 per cent between March 2007 and 2008 to $473,543.
Posted on
April 28, 2008
by
Matt France (RE/MAX Masters Realty)
The Bank of Canada Prime Rate, as shown at the link above, is now 4.75% and you should be able to find some types of mortgages (open and close variable) with significant discounts from this rate, so borrowing money right now is cheap.
With there being more listings, less purchases happening and low interests rates, now is a great time to buy real estate!
Categories:
Ambleside, West Vancouver Real Estate
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Bayridge, West Vancouver Real Estate
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Boyd Park, Richmond Real Estate
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Brighouse South, Richmond Real Estate
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Brighouse, Richmond Real Estate
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British Properties, West Vancouver Real Estate
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Caulfeild, West Vancouver Real Estate
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Cedar Hills, North Surrey Real Estate
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Cedardale, West Vancouver Real Estate
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Central Lonsdale, North Vancouver Real Estate
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Central Pt Coquitlam, Port Coquitlam Real Estate
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Chartwell, West Vancouver Real Estate
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Clayton, Cloverdale Real Estate
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Cloverdale BC, Cloverdale
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Cloverdale BC, Cloverdale Real Estate
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Coal Harbour, Vancouver West
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Coal Harbour, Vancouver West Real Estate
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Collingwood VE, Vancouver East
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Collingwood VE, Vancouver East Real Estate
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Crescent Bch Ocean Pk., South Surrey White Rock Real Estate
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Cypress Park Estates, West Vancouver Real Estate
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Deer Lake, Burnaby South Real Estate
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Downtown VE, Vancouver East
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Downtown VW, Vancouver West
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Downtown VW, Vancouver West Real Estate
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Dunbar, Vancouver West
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Dunbar, Vancouver West Real Estate
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Dundarave, West Vancouver Real Estate
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Eagle Harbour, West Vancouver Real Estate
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Edgemont, North Vancouver Real Estate
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Fairview VW, Vancouver West Real Estate
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False Creek, Vancouver West
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False Creek, Vancouver West Real Estate
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Fraserview VE, Vancouver East Real Estate
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Gleneagles, West Vancouver Real Estate
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Glenmore, West Vancouver
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Glenmore, West Vancouver Real Estate
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Glenwood PQ
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Glenwood PQ, Port Coquitlam Real Estate
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Greentree Village, Burnaby South Real Estate
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Guildford, North Surrey
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Hastings, Vancouver East Real Estate
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Kerrisdale, Vancouver West Real Estate
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Kitsilano, Vancouver West
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Kitsilano, Vancouver West Real Estate
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Lower Lonsdale, North Vancouver Real Estate
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Maillardville, Coquitlam Real Estate
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Mary Hill, Port Coquitlam Real Estate
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Mission BC, Mission Real Estate
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Montecito, Burnaby North Real Estate
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Morgan Creek, South Surrey White Rock Real Estate
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Mosquito Creek, North Vancouver Real Estate
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Mount Pleasant VE, Vancouver East
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Mount Pleasant VE, Vancouver East Real Estate
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North Saanich Real Estate
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North Vancouver
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Northlands, North Vancouver Real Estate
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ON - Okanagan North, North Okanagan Real Estate
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Port Moody Centre, Port Moody Real Estate
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Port Moody, Port Moody Centre
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Queen Mary Park Surrey, Surrey Real Estate
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Queens, West Vancouver Real Estate
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Riverwood, Port Coquitlam Real Estate
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Sapperton, New Westminster Real Estate
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South Slope, Burnaby South Real Estate
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Steveston South, Richmond Real Estate
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Sunnyside Park Surrey, South Surrey White Rock Real Estate
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Upper Lonsdale, North Vancouver Real Estate
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Vancouver
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Vancouver Heights, Burnaby North Real Estate
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Victoria VE, Vancouver East Real Estate
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West End VW, Vancouver West Real Estate
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West Vancouver Real Estate
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Westmount WV, West Vancouver Real Estate
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Whalley, North Surrey
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Whalley, North Surrey Real Estate
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Whistler, Whistler Real Estate
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Whitby Estates, West Vancouver Real Estate
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Willoughby Heights, Langley Real Estate
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Yaletown, Vancouver West Real Estate
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