Susan Pockett RE/MAX Select Properties

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Please visit our Open House at 3105 33 CHESTERFIELD PL in North Vancouver.
Open House on Saturday, October 6, 2012 2:00 pm - 4:00 pm
Experience total comfort in t.his positively huge apartment. Nothing to be done to the suite or the building. New roof 2011, new garage membrane 2010, new exterior paint 2010, new common area paint and carpets 2011 and new boilers 2012.This suite has new carpets, all new appliances, some new light fixtures, new granite counters in kitchen and both bathrooms and new paint. Direct access to the street from your own private gate. Secure underground parking plus 16 visitor spots as well as insuite storage and a storage locker. Downstairs has enclosed solarium area that would be perfect fitness centre or office. This is absolutely the best value on the North Shore and is priced to sell immediately. Immediate occupancy possible
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VANCOUVER, B.C. – October 2, 2012 – The summer of 2012 drew to a close in September with home sale
activity well below historical averages in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached

and apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 sales
in September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012.

September sales were 41.6 per cent below the 10-year September sales average of 2,597.
“There’s been a clear reduction in buyer demand in the three months since the federal government eliminated
the availability of a 30-year amortization on government-insured mortgages,” Eugen Klein, REBGV president
said. “This makes homes less affordable for the people of the region.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,321 in September.
This represents a 6.3 per cent decline compared to September 2011 when 5,680 properties were listed for sale on the MLS® and a 31.6 per cent increase compared to the 4,044 new listings in August 2012.
At 18,350, the total number of residential property listings on the MLS® increased 14.1 per cent from this time
last year and increased 4.5 per cent compared to August 2012.
“Today, our sales-to-active-listings ratio sits at 8 per cent, which puts us in a buyer’s market. This ratio has been
declining in our market since March when it was 19 per cent,” Klein said.
The MLS HPI® composite benchmark price for all residential properties in Greater Vancouver is $606,100.
This represents a decline of 0.8 per cent compared to this time last year and a decline of 2.3 per cent over last
three months.
“Prices in the region remain relatively stable overall, although we do see some reductions in the areas that have
had some of the largest price increases over the last year or two,” Klein said.
Sales of detached properties on the MLS® in September 2012 reached 594, a decrease of 37.9 per cent from the
957 detached sales recorded in September 2011, and a 31.4 per cent decrease from the 866 units sold in September 2010. The benchmark price for detached properties decreased 0.5 per cent from September 2011 to $935,600.
Sales of apartment properties reached 676 in September 2012, a 26.7 per cent decrease compared to the 922
sales in September 2011, and a decrease of 30.4 per cent compared to the 971 sales in September 2010. The
benchmark price of an apartment property decreased 0.7 per cent from September 2011 to $368,600.
Attached property sales in September 2012 totalled 246, a 33 per cent decrease compared to the 367 sales in
September 2011, and a 35.8 per cent decrease from the 383 attached properties sold in September 2010. The
benchmark price of an attached unit decreased 2.7 per cent between September 2011 and 2012 to $458,600.

 

The real estate industry is a key economic driver in British Columbia. In 2011, 32,390 homes changed ownership in the Board’s area, generating $1.36 billion in spin-off activity and 9,069 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $25 billion in 2011. The Real Estate Board of Greater Vancouver is an association representing 11,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®.For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.