maggie's Blog

Vancouver real estate analysis for olympic village condos

maggie chandler (chandler realty) — Mon, 23 Nov 2009 18:07:55 -0600

90 Days to go and counting! Vancouver's 2010 Winter Olympics commence on February 12, 2010.The Olympic Village is Vancouver's last waterfront community. Vancouver real estate statistics for False Creek South (Olympic Village) saw listings up and sales down for October.

In her report to council in October, city manager Penny Ballem confirmed that 420 units of the 1,100 total units on the site (including affordable housing) have been "inspected, approved and locked down by VANOC". MilleniumWater will be pre-selling the remainder in May

We can only track the activity for this neighbourhood through MLS, not the Developers who are pre-selling, but that will eventually change and then we can get a better feel for the neighbourhood. Most expensive listing $1,749,000 for 1359 sq.ft. penthouse (air conditioned) in Foundry.

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Featuring Avila at 560 Cardero, Coal Harbour, Vancouver, BC

maggie chandler (chandler realty) — Mon, 23 Nov 2009 18:04:11 -0600

Address - 560 Cardero Street, Coal Harbour, Vancouver, BC. "Waterfront Place Complex". Avila was the first of four condo buildings to be built at Waterfront Place, on Coal Harbour's waterfront, of which there are 2 Bayshore buildings, 4 Waterfront Place buildings and 7 on West Cordova, for a total of only 13. The first 2 condos to be built in Coal Harbour were Harbourside Park (555 Jervis and 588 Broughton), followed by Avila and Bauhina

Built - 1998 . 21 floors featuring amazing water and mountain views from front condos.

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VANCOUVER'S MOST EXPENSIVE HOUSE

maggie chandler (chandler realty) — Sat, 21 Nov 2009 18:45:54 -0600

A quick search of MLS solds shows only four Vancouver houses have sold over $10M. The most expensive being on Point Grey Road for nearly $15 Million this year. Currently the most expensive home listed on MLS is on Osler Street for $22M and there are 12 listings over $10M.

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mortgage restructure - prime minus .25% for 3 years

maggie chandler (chandler realty) — Sat, 21 Nov 2009 18:44:04 -0600

This just in from my mortgage broker, Alma Pasic. Borrow as much as $400,000 and pay $1,323.35 per month. Mortgage Sale Ends December 16, 2009. One of Canada's most Aggressive Mortgage Product's on sale now! All purchases, refinances or debt consolidations are elgilble for. Prime - .25% for 3 year variable = 2.00% TODAY. Email us at alma_pasic@telus.net for a free information package.

The Trend is your friend: It wasn't all that long ago that we were Prime +.80 etc..and look where we are now. What will Prime +/- look like in 3 yrs. That I can't answer but the trend is your friend. We could easily be back to P-.60 or greater in a few years which is perfect timing for when the 3yr ARM will be up for renewal.
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Vancouver Real Estate Analysis for False Creek North

maggie chandler (chandler realty) — Sat, 21 Nov 2009 18:41:01 -0600

Vancouver real estate analysis for False Creek North saw listings down from 127 to 125. Sales down from 41 in September to 33. Days on the market up to 53 but less than a year ago. The average selling price jumped from $714,000 to $980,000 as more condos sold over $1M, which also pushed up the $psf. The average supply of condos in this waterfront hood is down to 3 months. The sales over $1 million dropped in September but tripled in October. This neighbourhood now selling best between $700k and $1M. Both listings and sales crunching down together and now at the lowest since March/April. Will more buyers or sellers visit the market after 2010 Olympics in the Spring?

Listings - 125 six listed under $400,000 and only 17 listings between $400,000 & $500,000. 23 listed between $500,000 and $700,000. 37 listed between $700,000 and $1 million. 31 listed between $1 & $2 million and 11 listed over $2 million. 12 condos did not sell and only two were re-listed, indicating these sellers will revisit the market again in the future, 50% of the 12 were over $1M.

Least expensive $299,00 for a small l bedroom. Most expensive The Penthouse at 1000 Beach avenue listed at $12,980,000

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Vancouver Real Estate Analysis for Downton

maggie chandler (chandler realty) — Sat, 21 Nov 2009 18:37:58 -0600

Vancouver's Downtown condo market saw listings and sales up in October, with the market under $700,000 selling the best. The average selling price jumped to $519,000 and the average $psf down a tad to $610. Monthly sales were the second highest for the year and higher than any month in 2008. Listings back to the Jan/Feb level. Condos that "expired" and didn't sell dropped from 53 to 33 (vs. 78 in Jan) and only 5 got relisted. Average days on the market for condos that sold steady at 32. 68% of the sales were under $500,000 (down from 80% in August) and sales increased over $1M. The supply is down to 3 months vs.16 months last October. List price to sales price ratio flat at 98%. Vancouver's downtown market remains strong.

Listings -543. Least expensive $220000 for a small studio. Most expensive -$6.6M for 3500 sqft in Residences on Georgia Sub-Penthouse.

Listings Inventory - 20 listings Downtown under $300,000. 112 between $300K and $400K. 134 listings between $400K and $500K. 160 condos listed between $500K and $700K. 64 listed between $700,000 and $1M. 53 listed over $1M, including 4 over $3M.

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VANCOUVER REAL ESTATE ANALYSIS FOR WEST END

maggie chandler (chandler realty) — Sun, 15 Nov 2009 14:01:33 -0600

Vancouver real estate in the West End saw October listings down and sales flat, resulting in 2.6 months of inventory, same as September. The days on the market for condos that sold increased from 39 to 47. The average selling price dropped to $616,000 due to fewer condos selling over $1M. 75% of the sales remain under $500,000. The list price to sale price ratio flat at 98% and the highest for the year. In February the market under $300,000 was selling the best -currently only 15% of the sales which have been dropping since their peak in May. Affordability factor kicking in?

Listings - 157. 12 listed under $300,000 (including 1 under $200,000). 25 listed between $300,000 and $400,000. 20 listed between $400,000 and $500,000. 55 listed between $500,000 and $1M. 38 listed between $1M & $2M. 7 listed over $2M

Least expensive -$198,00 for a leasehold one bedroom

Most expensive - $5,888,000 for 4500 sq-ft in Shangri-la. View it

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BCREA's 2010 Forecast

maggie chandler (chandler realty) — Fri, 13 Nov 2009 14:01:11 -0600

Vancouver, BC - November 13, 2009. The British Columbia Real Estate Association (BCREA) released its Fall 2009 Housing Forecast today.

BC Multiple Listing Service® (MLS®) residential sales are estimated to increase 20 per cent to 82,900 units this year from 68,923 units in 2008. Residential sales in 2010 are forecast to increase a further 8 per cent to 89,600 units. The ten-year average is 82,800 units.

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Upcomin Vancouver real estate Presales

maggie chandler (chandler realty) — Thu, 12 Nov 2009 16:58:43 -0600

The implementation of the HST on July l, 2010 will increase the cost of new housing.

Currently selling in the Olympic Village neighbourhood are Maynards Block, Pinnacleliving. In Kitsilano, on West Broadway where the IGA parking lot has been forever will now be a new condo tower. Mantra on 4th Ave is completed and still has suites for sale. Then there's Spruce on Spruce and W. Broadway in Fairview, starting in the mid $300s. Koi townhomes on Oak and 8th

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ready to buy a pre-sale? call maggie

Vancouver real estate analysis for coal harbour

maggie chandler (chandler realty) — Thu, 12 Nov 2009 16:09:42 -0600

Vancouver real estate analysis for Coal Harbour in October saw sales and listings increase, compared to September. Days on market up slightly to 68, a tad higher than a year ago. Coal Harbour inventory dropped slightly to 4.6 months and has been in this range since April. Luxury sales over $2 million are on the upswing pushing up the average sale price to $1,191,800 (higher than a year ago) and average $ pr sq ft up to $848. List price to sale price ratio stable at 95%. No more than 5 months of inventory in any price range, including over $2M. However, as Fairmont Estates close in January we expect to see a number of flippers. New condos on Coal Harbour's waterfront now listed over $2000 psf, resales now at $1600 psf. Fairmont and Three Harbour Green are the last remaining new waterfront buildings. Waterfront condos are becoming ever more expensive.

Listings -139. 33 listed under $500,000. 43 listed between $500,000 and $1M. 31 listed between $1M and $2M and 32 listed over $2M, including 9 over $5M, expect to see this number rise as Fairmont completes and the flippers hit the market.

55% are listed over $1M, up from 45% in October.

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vancouver luxury condo sales remain steady in october

maggie chandler (chandler realty) — Tue, 10 Nov 2009 19:09:07 -0600

Vancouver luxury condo sales remained steady in October, with a total of 9 sales over $2 million.

The average days on the market was 122 (up from 97 in Q3). List price to sales price ratio was 92% (up from 91% in Q3) and the average sold price was $1286 psf (up from $1250psf in Q3). The least expensive sold for $1026psf and the most expensive sold for $1623psf.

There were 5 sales between $2 and $3M. 3 sales between $3 and $4M and one sale over $4M. The most expensive was $4.3M which was on Coal Harbour's waterfront Two Harbour Green, which had 2 sales on the n.w. corner, 5 floors apart and an additional $81,000 pr floor. The condo which sold for $4.3M broke a new price for the waterfront ($1612psf).

The 4 solds over $3M are consistent with the stats of 12 sales over $3M in Q3.

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vancouver"s shangri-la condo

maggie chandler (chandler realty) — Tue, 10 Nov 2009 19:06:08 -0600

Now that the investors have flipped their Vancouver Shangri-la condos, the prices are rising.

The building just achieved a sale price of over $1500psf. The same suite sold, eight floors higher, in June at $1235 psf. Currently there are only three suites for sale in the Estates at Shangri-la, including my lisitng on 53rd floor, which is a unique (one of only 3) double height 3 bedroom 4500 sqft

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Vancouver real estate analysis for kitsilano

maggie chandler (chandler realty) — Tue, 10 Nov 2009 19:01:41 -0600

Listings at a record low for the year and sales at a record high. Kits condo supply dropped from 2 months in Sept to 1.6 months in October. Vancouver real estate market analysis for Kitsilano condos saw October listings flat at 80. Sales increased 25% to 50, the highest for the last 22 months, tied with July which is the highest for the year, and three times as many as October'08. The average sale price dipped to $474,000 but is higher than a year ago. Average $psf for solds $584. Average Days on the market for sold condos up slightly to 18. The last quarter have had the lowest DOM for the year. List price to sale price ratio back to 100%. A whopping 75% sold at or above list price, indicating many buyers still looking to buy. October saw 65% of the sales under $500,000. Only 5 listings didn't sell or were cancelled, up from 2 in Sept and 6 in August. Only one of the expireds was relisted. Market needs some more listings.

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Greater Vancouver Real estate Graphs

maggie chandler (chandler realty) — Tue, 10 Nov 2009 18:58:38 -0600

The October graphs for Greater Vancouver real estate show the average price of Greater Vancouver homes, townhomes and condos are nearly back to the top, having regained what they lost last year. Prices have been rising since March. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present. The Vancouver market peaked in 1981, 1989,1993 and 2008. Vancouver real estate didn’t appreciate much between 1994 and 2002 but they did between 2002 and 2008 and are now testing the highs of 2008. Following are the stats for Vancouver West Side Listings decreased from September but sales were up and the highest since June. Normally the market will ease up going into Christmas, we shall see if that happens this year.

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Vancouver Real Estate Graphs

maggie chandler (chandler realty) — Tue, 10 Nov 2009 18:55:56 -0600

Above are the October Vancouver (west side) real estate graphs for houses, townhouses and condos. All Prices UP!

Median and average sold price for houses, townhouses and condos were up in October, compared to September and all were higher than a year.

Condo listings just under 1500 where they were in May( 2500 a year ago). The monthly new listings increased the most for the year. 833 new listings in october, vs 798 in Sept. Monthly solds increased to 529 from 477 in Sept. For the year, the busiest price range is $350,000 to $450,000 . Year to Date over $1 Million saw 251 sales in Vancouver West Side (up from 30 for the first quarter). Total of 4,374 sales for the year, vs 3,246 in 2008.

Townhouse listings are down to 175 (nearly 500 a year ago). The new listings for the month dropped to 94, from 136 in Sept. Sales were 78 for the month, vs 81 in Sept. Busiest price range is $600,000 to $650,000. 223 Sales over $1M. Total of 782 sales for the year vs 470 last year.

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CHANGES COMING TO VANCOUVER'S STRATAS

maggie chandler (chandler realty) — Tue, 03 Nov 2009 16:20:09 -0600

The B.C. Government is moving ahead with changes to the Strata Title Act, which governs codominiums, despite an election promise to seek public input. The Condominium Homehowners Association (CHOA) is calling on the government for public input.

There are nearly half a million stratas in British Columbia. The full text of the Bill can be viewed. The items up for change include the strata owner's ability to rent, strata governance, strata management licencees, disclosure, property taxation, strata fee equity, strata development approvals, depreciation reports and accountability. Beststratachanges.ca also have useful information.

Voice your opinion!

Vancouver Real Estate Market Keeping me Busy

maggie chandler (chandler realty) — Tue, 03 Nov 2009 16:18:14 -0600

October was a busy month in Vancouver Real Estate and I've been working seven days a week and too busy to blog!

Three of my listings sold and I had one transaction as a buyer agent. In addition I received four other offers. One was accepted but the buyer changed their mind, the second one just got accepted and the other two are still under negotiation. I've observed an increase in verbal offers - a method of negotiating i dont partake in. On average it takes about 30 showings to sell a million dollar property.

So who's buying Vancouver Real Estate? Based on my experience regarding the showings on my listings and the offers, the city is full of Mainland Chinese Buyers. They are either investors or they have immigrated here and they purchase luxury condos over $1M and west side homes. There are still quite a few first time buyers, the odd trade up buyer, a few local investors buying inexpensive condos to rent out and a smattering of investors from the US and Alberta.

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CMHC Predict a Rise in Sales and Prices for Vancouver Real Estate in 2010

maggie chandler (chandler realty) — Tue, 03 Nov 2009 16:14:28 -0600

through the remainder of this year and into 2010. More sales combined with fewer active listings will push the prices higher."

"Home starts will also increase in 2010 but remain below levels recorded in recent years. Steady population growth through migration, low interest rates, an improved job market will provide growth for housing demand, increasing prices 2-4%, listings by 3.6% and sales by 6%. Their leading indicator has bounced into Sellers territory. As prices continue to rise, more sellers will enter the market in the last half of 2010 which will bring balance to the market

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Greater Vancouver Sales Rise in September whilst New Listings Drop

maggie chandler (chandler realty) — Tue, 03 Nov 2009 16:09:33 -0600

REBGV reports that "Strong demand has led to a steady rise in Greater Vancouver home prices compared to last year." Sales in October increased 4% from September and new listings decreased 13.4%.Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.8 per cent to $553,702 from $518,668 in October 2008. "While home prices have been rising in 2009, they have not eclipsed the peaks reached in early 2008," Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. "We're coming off several months of unseasonably high sales levels, which has allowed for a gradual increase in home values this year,"

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vancouver real estate analysis for west end

maggie chandler (chandler realty) — Thu, 29 Oct 2009 16:11:06 -0500

Vancouver real estate in the West End saw September listings steady at 171 (equal to feb'08) and sales at 65 (less than the peak of 88 in June) resulting in 2.6 months of inventory, second lowest month for the year after July. The days on the market for condos that sold increased from 29 to 39. The average selling price jumped to nearly $700,000, distorted by a Shangri-la sale over $5M, which also distorted the sale price psf. 75% of the sales were under $500,000 and 14% were over $1M, up from 6.5% the month before. The list price to sale price ratio flat at 98% and the highest for the year, indicting little flexibility on the price from sellers. In February the market under $300,000 was selling the best -currently 20% of the solds. Overall a healthy market with more sales at the high end.

Listings - 171. 13 listed under $300,000 (including 2 under $200,000). 45 listed between $300,000 and $400,000. 33 listed between $400,000 and $500,000. 45 listed between $500,000 and $1M. 26 listed between $1M & $2M. 9 listed over $2M

Least expensive -$198,00 for a leasehold one bedroom

Most expensive - $5,888,000 for 4500 sq-ft in Shangri-la. View it

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Bullish Forecast for Vancouver Real Estate in 2010

maggie chandler (chandler realty) — Thu, 29 Oct 2009 16:07:27 -0500

October 22nd, 2009 Categories: Real Estate News, Vancouver Real Estate

Central Credit Union, Chief Economist , Helmut Pastrick, projects a 30% increase in sales for BC real estate in 2010, setting new records for both sales and prices, and then falling back slightly in 2011.

"The annual medium sales price will climb to $391,000 next year and $415,000 in 2011. Pastrick also sees housing starts rebounding almost 50% in 2010. The sales upturn will be stronger in Metropolitian areas, with a 45% increase in Vancouver. The record housing sales will be due to "favourable mortgage rates, a growing economy and easier credit for builders and developers."

Pastrick also sees mortgage rates starting to turn up in 2010 and "with conviction" in 2011, with the 5 year term breaking through 7% (posted rate, not discount rate). See the graphs and read the report here

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Featuring Vancouver's 1790 and 1710 bayshore drive, Coal Harbour

maggie chandler (chandler realty) — Thu, 29 Oct 2009 16:03:39 -0500

Bayshore Gardens consists of 7 condo buildings, of which 1790 and 1710 were the first to be built in 1997 and 1998. They are on the south west side of Bayshore Drive, Vancouver, BC

Built: 1996-97

Levels - 22

Floorplan - All 66 suites are corner condos. 1790 has 5 suites per floor, 19 storeys and is Tower 1 of the Bayshore Buildings. It is on the s.w. corner of Bayshore Drive. The ‘01′ faces north and is 1070 sf. The ‘02′ faces n.e. 1080sf. The ‘03′ is s.e. 880sf. The ‘o4′ is s.w. 1280sf and the ‘o5′ is due west 1260 sf with unobstructed views toward Stanley Park. After the 10th floor there are 4 suites per floor and the 15th and 16th floors have 2 suites per floor 2800 sq.ft. and the Penthouses are 2500-4300 sf.

All 87 condos at 1710 Bayshore are also corner suites. 23 storeys.

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canada real estate roundup

maggie chandler (chandler realty) — Thu, 29 Oct 2009 16:01:03 -0500

Slowly all of the major Canadian cities are showing real estate prices are higher than a year ago.

The average Canadian real estate price in September saw the Western cities of Vancouver, Victoria, Calgary, Regina and Winnipeg higher than a year ago. So were Toronto, Ottawa, Montreal, Newfoundland and PEI. But prices were lower in Edmonton, Saskatoon and Halifax. The following is a release by CREA, You can hold your mouse over a specific city or province and view the current average price and the average price one year ago. View the September summary.

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High Floor View Home in the Melville, Coal Harbour, Vancouver West

maggie chandler (chandler realty) — Thu, 22 Oct 2009 16:15:52 -0500

Links

Photo Gallery

Description

Welcome home to The Melville, steps to Coal Harbour's waterfront. 2 bedrooms & conservatory, 2 1/2 baths, insuite storage plus 2 parking & locker. South, East & West views of English Bay, Stanley Park & the city. Corner suite with floor to ceiling windows, hardwood floors & lovely open floor plan. Chef's kitchen with S/S appliances, gas stove & granite countertops. Master bath with porcelain floor tiles, deep soaker tub, granite vanity countertop & frameless glass shower. Features walk-in closet & electric fireplace. Rooftop pool & sky spa. Concierge. ALL FURNISHINGS INCLUDED! Priced to sell!!!

Features

Bedrooms:	2
Bathrooms:	2.5
Parking Spaces:	2
Year Built:	2007
Subdivision:	Coal Harbour
Located on Floor #:	36
Square Footage:	1392
Agent Name:	Maggie Chandler
Broker:	Chandler Realty Ltd
MLS #:	V794154
Exposure:	Southwest
Rentals:	Allowed
Pets:	Allowed
Construction:	Congrete
Location:	Vancouver West

Location

1189 Melville St Vancouver BC V6E 4T8

vFlyer Id: 2906690

vancouver real estate average price graph

maggie chandler (chandler realty) — Sat, 17 Oct 2009 13:22:17 -0500

September, compared to August. Townhome and Condo prices were up slightly. Prices have been rising since March. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present. The Vancouver market peaked in 1981, 1990, 1995 and 2008. Vancouver condos didn't appreciate much between 1990 and 2002 but they did between 2002 and 2008. The above graph shows prices have recovered remarkably well and are not much below the peak of 2008. Listings and sales for Greater Vancouver increased in September compared to August.

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