Blog by Mark Longpre

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Home sales edge lower in May

June 15th, 2011

Vancouver, BC – June 15, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province edged down one per cent to 7,857 units in May compared to the same month last year. The average MLS® residential price climbed 20 per cent to $596,872 last month compared to May 2010.

"Tighter mortgage rules, tepid ...

Average home price in Canada

June 1st, 2011
Average home price in Canada in April according to Canadian Real Estate Association was $372,000, up 8 percent from April 2010. In Vancouver average price in April was $815,000, up 21 percent from same month last year.

April sales volume down

May 26th, 2011
Greater Vancouver year on year unit sales down 8.5% last month to 3,270 homes sold.

Q1 sales up

May 25th, 2011
Q1 Westside detached sales up a huge 49% year on year while Eastside detached sales up 14% year on year.

Latst Stats from Real Estate Board of Vancouver

May 1st, 2011

Home Buyers and Sellers enter the market at a near record pace in March 2011. Click this link to watch the video...

http://www.rebgv.org/rebgv-market-update-march-2011

Downtown Vancouver building boom re-emerges after recession

April 28th, 2011

Vancouver has emerged out the other side of the dark recession and is on track to have one of the great downtowns of the world, Mayor Gregor Robertson told a packed business luncheon Thursday.

Pointing to a rash of commercial building projects and a dramatic spike in building permits, Robertson said Vancouver is finished with what he called “the gut-wrenching days” of the recession.

In an u ...

Cam Good: Real estate protectionism is miguided

April 21st, 2011

In the last two months, we've sold over 700 condos in Toronto. Sixty per cent went to Mainland Chinese buyers. In meccas like Richmond, 98 per cent of the hundreds of homes we've sold are to buyers who are Chinese. Even in White Rock, we sold 35 per cent of a new condo tower to buyers from Mainland China. For a new market like White Rock, that's a shocking number.

As the North American med ...

BC home sales up 11.5% compared to March 2010

April 18th, 2011

Vancouver, BC – April 18, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province continued to climb higher in March. Compared to March of 2010, MLS® residential unit sales increased 11.5 per cent to 8,600 units. The average MLS® residential price rose 15 per cent to $594,157 in March compared to the same month ...

Near record pace for March real estate

April 4th, 2011

Activity in the Greater Vancouver housing market continued to strengthen in March with both the number of homes sold and added to the region’s Multiple Listing Service® (MLS®) reaching near record levels.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 4,080 in March 2011 ...

Mortgage rate forecast

March 24th, 2011

Mortgage Rate Outlook

Mortgage rates have thus far evolved in-line with our December 2010 forecast, with the 5-year fixed rate reaching 5.44 per cent and the 1-year rate hitting 3.50 per cent in mid–February. Mortgage spreads (the difference between a fixed mortgage rate and the yield on Government of Canada bonds) have returned to historically normal levels and we expect these spreads to re ...

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