It's May and our Real Estate market is booming! I have analyzed all of the stats from April and here are 5 things you should know about our real estate market right here in Metro Vancouver:

  1. Supply: We had 6,361 Active listings in April which is down -25.7% from April 2014.  Leaving us with only 2.2 months supply of houses and 3 months of supply for attached homes (condos, townhouses & 1/2 duplexes).

  2. Demand: 2,377 properties sold in April which is up +39% from April 2014.
  3. Prices: The average price of a house is $1,463,643 which is up +18.5% from April 2014 and the average price of an attached home is $509,425 which is up +4% from April 2014.
  4. Market Type: We are in a seller's market for houses with 55% of the houses selling within a…

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It's Spring and the real estate market in Vancouver market has been hopping!  I have analyzed all of the stats from May and here are 5 things you should know about the real estate market in Metro Vancouver:

  1. Supply:  We had 6,288 properties listed thru the month of May which is down -32.7% from this time last year (May 2014) and another -1.1% from last month (April 2015). 
    If we look into those stats further.... we have 2.5 months of inventory for detached houses and 2.6 months of inventory for attached homes.
  2. Demand: 2,302 properties sold in May which is up +21.3% from this time last year (May 2014) and is down -3.3% from last month (April 2015).
  3. Time:  The average time for a detached house to sell was 15.7 days.  For attached homes it was…

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Do you have a renovation project in mind – and wonder how much value it will add to your home? Remodeling Magazine recently did a study of renovation projects, comparing costs to added value. Here are the Top 5 results:

1) Replacing a main entry door.  This has a return on investment of over 95%. After all, the entrance to a home is one of the first things a prospective buyer notices.

2) Adding a new deck. Depending on the materials used, you can expect to get back three-quarters of the money invested.

3) Replacing or installing a Garage door. This once again demonstrates the importance of a home’s “curb appeal.”

4) Basement renovations create a lot of value because of the additional room it can create.  One can use the basement for guests, recreation or…

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