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March 2015 Market Update

Posted on April 14, 2015

Metro Vancouver home buyers out in force in March.

We’re seeing strong competition amongst home buyers today. This is leading to more multiple offer situations and some upward pressure on home prices. For sellers, this means that it’s taking less time, on average, for your home to sell if you have it priced correctly for today’s market. Last month’s sales were 26.8% above the 10-year sales average for the month.

The number of homes for sale today is below what’s typical for this time of year. If you’ve been considering putting your property on the market, these market conditions indicate that now may be a good time to list. The total number of properties currently listed for sale on the REBGV MLS® is 12,376, a 14.5% decline compared to March 2014 and a 4% increase compared to February 2015.

The sales-to-active-listings ratio in March was 32.8%. This is the highest that this ratio has been in Metro Vancouver since July 2007. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 4,060 on the Multiple Listing Service® (MLS®) in March 2015. This represents a 53.7% increase compared to the 2,641 sales recorded in March 2014, and a 32.6% increase compared to the 3,061 sales in February 2015.

Gastown

Gastown continues to be the “IT” place to live and we’re seeing this reflected in sales activity and price increases.

Yaletown

Yaletown has established itself as the centre of Downtown lifestyle with everything at your doorstep and prices are on the rise!

East Van Houses – Fraser

Well, what can I say about Fraser? It’s where I was born and raised so it holds a special place in my heart. This area is SUPER HOT now with cool new restaurants and shops popping up everywhere. Check these out. Back to real estate, prices and sales activity have gone thru the roof!!

East Van Houses – Grandview

The Grandview area is a great eclectic neighbourhood filled character and charm. We continue to see very strong demand for any type of house in this neighbourhood.


East Van Houses – Hastings

Hastings Sunrise otherwise known as the East Village is the new hip spot in town to eat and shop. Check out this site for all the best spots. This more affordable neighbourhood has tons to offer and great homes.

East Van Houses – Killarney

Killarney offers a very family oriented neighbourhood that has great schools and an amazing community centre.

East Van Houses – Knight

The Knight Street area is seeing a surge in price growth as the East/West border blurs and moves. This area boasts some great parks, schools and city views.

East Van Houses – Main

Main Street has become East Van’s place to be. It’s being called the new westside with many young people moving to this area.

This trendy hood continues to see amazing demand for homes and prices reflect it.


East Van Houses – Mt. Pleasant

Mt Pleasant is “hipster heaven’ with the best barbers, micro breweries, coffee shops and every else cool. Here’s a list of some of the best eats in the area.

The houses in this neighbourhood literally sell in a heartbeat and prices have gone up considerably.

East Van Houses – Renfrew

Renfrew is a lovely neighbourhood that is central and offers many services.

This neighbourhood is a bit more affordable and a great place to live.


East Van Houses – Collingwood

Collingwood is one of the most affordable neighbourhood that borders Burnaby. It is culturally diverse.

East Van Houses – Victoria

Victoria is a great new hot spot with lovely neighbourhoods and of course Trout Lake. Prices in this area continue to rise at a fever pace! I like it so much I live here.