The Vancouver region’s detached-housing market has turned hot again. 

 

The average price for detached houses sold in Greater Vancouver reached a record of $1,830,956 in May, up 5 per cent from the same month in 2016 and just surpassing the previous high of $1,826,541 in January 2016.

 

While the market for detached homes cooled in the second half of 2016, condos and townhouses experienced a short lull before continuing on a tear, smashing former highs. The average price for condos sold in Greater Vancouver last month hit a record of $656,919, up 15.1 per cent from a year earlier, and the average price for townhouses jumped 7.4 per cent to a new high of $858,994

 

Last month, Greater Vancouver’s benchmark residential price reached a new high of $967,500, up 8.8 per cent from one year earlier and a 54.7-per-cent surge compared with three years ago. The industry’s benchmark price depicts typical properties sold.

 

Over all for various housing types, residential sales in the region totaled 4,364 last month, down 8.5 per cent from May 2016. Still, last month’s transactions marked the third-highest volume for May, ringing in 23.7-per-cent higher than the 10-year sales average for May. A record high of 5,173 properties changed hands in March 2016.

 

Sales volume for detached properties began falling in April 2016. Sales in the detached category fell for 10 consecutive months, but the trend changed in February, with transactions rising month over month in Greater Vancouver.

 

In the Fraser Valley Real Estate Board’s territory, sales in May fell 7 per cent year-over-year while the price for various housing types last month averaged $740,280, up 1.7 per cent from a year earlier.

 

The price for detached houses sold in Langley last month averaged more than $1-million, up 12.2 per cent from May 2016.

 

If you or anyone you know has questions about the real estate market in a specific neighborhood, feel free to contact me at any time.

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I have listed a new property at 2302 583 BEACH CRES in Vancouver.
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Please visit our Open House at 2302 583 BEACH CRES in Vancouver.
Open House on Saturday, June 24, 2017 2:00PM - 4:00PM
Modern elegance w/ STUNNING SUNSETS, & WATER VIEWS of False Creek to ENGLISH BAY. This fabulous 2 bdrm + den, open concept condo in Park West 2 is located on the SW CORNER of this 5 star, pet friendly bldg. Floor to ceiling windows throughout capture water views from all principle rooms. Modern comforts include granite & quartz-stone countertops, gas stove, solid hardwood floors in the living/dining rooms, insuite storage & a master ensuite bath with a separate shower. This home has just been freshly painted and new carpets installed in both bedrooms. 1st class amenities include a guest suite, a "Superclub" w/ 80' indoor pool, whirlpool, sauna & steam rooms, fully equipped fitness room, squash court, lounge, theatre and a concierge. Walking distance to world class shopping and dining.
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I have listed a new property at 319 8200 JONES RD in Richmond.
The Wait is Over! 1st time on the market! Bright, Top floor, SW facing CORNER home in this fabulous gated complex. Laguna by Polygon is centrally located close to Public Transit, Malls, Shopping & Schools. This 2 bdrm + 2 bath home features one of the largest floor plans in this strata & boasts 13'3" vaulted ceilings in the living room. The bdrms are on opposite sides for maximum privacy. This home has huge principle rooms which easily can accommodate house sized furniture. The kitchens & baths are mostly original but, everything else has been updated. Recent UPDATES include new carpets in both bdrms, new paint throughout, newer S/S kitchen appliances, 2" window blinds & laminate flooring. Laguna is pet friendly & rentals allowed.
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I have listed a new property at 6308 ARGYLE ST in Vancouver.
Better than a townhouse or 1/2 duplex! Like new! This Charming Craftsman style, 4 bdrm + 2 bath Character home was taken down to the studs in 2002 (effective age = 15 yrs old) & rebuilt w/permits. Plenty of charm and character oozes throughout this home. Features include 18' vaulted ceilings in the living room, custom concrete f/p mantel, oak inlaid floors, french doors, wainscotting & more. The kitchen boasts shaker cabinets, granite countertops & a high end appliance package featuring a duel fuel Wolf stove, Liebherr fridge, Blomberg d/w & Faber hood fan. The master bedroom features 12' vaulted ceilings & opens onto a Private, W facing balcony. The PRIVATE, E facing backyard has a huge storage shed & even a playhouse for the kids!
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Please visit our Open House at 319 8200 JONES RD in Richmond.
Open House on Saturday, June 10, 2017 12:30PM - 2:45PM
The Wait is Over! 1st time on the market! Bright, Top floor, SW facing CORNER home in this fabulous gated complex. Laguna by Polygon is centrally located close to Public Transit, Malls, Shopping & Schools. This 2 bdrm + 2 bath home features one of the largest floor plans in this strata & boasts 13'3" vaulted ceilings in the living room. The bdrms are on opposite sides for maximum privacy. This home has huge principle rooms which easily can accommodate house sized furniture. The kitchens & baths are mostly original but, everything else has been updated. Recent UPDATES include new carpets in both bdrms, new paint throughout, newer S/S kitchen appliances, 2" window blinds & laminate flooring. Laguna is pet friendly & rentals allowed.
Read Full Story
Please visit our Open House at 319 8200 JONES RD in Richmond.
Open House on Sunday, June 11, 2017 3:00PM - 5:00PM
The Wait is Over! 1st time on the market! Bright, Top floor, SW facing CORNER home in this fabulous gated complex. Laguna by Polygon is centrally located close to Public Transit, Malls, Shopping & Schools. This 2 bdrm + 2 bath home features one of the largest floor plans in this strata & boasts 13'3" vaulted ceilings in the living room. The bdrms are on opposite sides for maximum privacy. This home has huge principle rooms which easily can accommodate house sized furniture. The kitchens & baths are mostly original but, everything else has been updated. Recent UPDATES include new carpets in both bdrms, new paint throughout, newer S/S kitchen appliances, 2" window blinds & laminate flooring. Laguna is pet friendly & rentals allowed.
Read Full Story
Please visit our Open House at 6308 ARGYLE ST in Vancouver.
Open House on Saturday, June 10, 2017 3:30PM - 5:00PM
Better than a townhouse or 1/2 duplex! Like new! This Charming Craftsman style, 4 bdrm + 2 bath Character home was taken down to the studs in 2002 (effective age = 15 yrs old) & rebuilt w/permits. Plenty of charm and character oozes throughout this home. Features include 18' vaulted ceilings in the living room, custom concrete f/p mantel, oak inlaid floors, french doors, wainscotting & more. The kitchen boasts shaker cabinets, granite countertops & a high end appliance package featuring a duel fuel Wolf stove, Liebherr fridge, Blomberg d/w & Faber hood fan. The master bedroom features 12' vaulted ceilings & opens onto a Private, W facing balcony. The PRIVATE, E facing backyard has a huge storage shed & even a playhouse for the kids!
Read Full Story
Please visit our Open House at 6308 ARGYLE ST in Vancouver.
Open House on Sunday, June 11, 2017 12:00PM - 2:00PM
Better than a townhouse or 1/2 duplex! Like new! This Charming Craftsman style, 4 bdrm + 2 bath Character home was taken down to the studs in 2002 (effective age = 15 yrs old) & rebuilt w/permits. Plenty of charm and character oozes throughout this home. Features include 18' vaulted ceilings in the living room, custom concrete f/p mantel, oak inlaid floors, french doors, wainscotting & more. The kitchen boasts shaker cabinets, granite countertops & a high end appliance package featuring a duel fuel Wolf stove, Liebherr fridge, Blomberg d/w & Faber hood fan. The master bedroom features 12' vaulted ceilings & opens onto a Private, W facing balcony. The PRIVATE, E facing backyard has a huge storage shed & even a playhouse for the kids!
Read Full Story
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