The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,577 on the Multiple Listing Service® (MLS®) in January 2012. This represents a 4.9 per cent decrease compared to the 1,658 sales recorded in December 2011, a decrease of 13.3 per cent compared to the 1,819 sales in January 2011 and an 18 per cent decline from the 1,923 home sales in January 2010.

January sales in Greater Vancouver were the second lowest January total in the region since 2002, though only 146 sales below the 10-year average.

“We’re seeing trends emerge in our market that favour buyers, such as increased selection and more stability in pricing compared to this time last year,” Rosario Setticasi, REBGV president said. “Last month’s activity tells us that competition amongst home buyers was reduced in January, which means that individuals looking to purchase a home had more time to do their homework, consult with their REALTOR®, and make a decision.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,756 in January. This represents a 19.9 per cent increase compared to the 4,801 new listings reported in January 2011, and a 253.3 per cent increase compared to the 1,629 new listings reported in December 2011.

Last month’s new listing count was the highest January total in Greater Vancouver since 1995. The total number of properties currently listed for sale on the Greater Vancouver MLS® is 12,544, a 12.5 per cent increase compared to December 2011 and an increase of 20.2 per cent compared to January 2011.

For updates and reports relating to more specific neighbourhoods contact Dean Wegman here.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 2.7 per cent in 2011 to 59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent increase compared to the 52,869 residential properties listed in 2009. Last year’s listing total was 11.1 per cent above the ten-year average for annual Multiple Listing Service® (MLS®) property listings in the region.

It was a relatively balanced year for the real estate market in Greater Vancouver with listing totals slightly above historical norms and sale numbers slightly below.

Residential property sales in Greater Vancouver totalled 1,658 in December 2011, a decrease of 12.7 per cent from the 1,899 sales recorded in December 2010 and a 29.7 per cent decline compared to November 2011 when 2,360 home sales occurred.

More broadly, last month’s residential sales represent a 34.1 per cent decrease over the 2,515 residential sales in December 2009, a 79.4 per cent increase compared to December 2008’s 924 sales, and a 12.6 per cent decrease compared to the 1,897 sales in December 2007.

The overall residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 7.6 per cent to $621,674 between Decembers 2010 and 2011. However, prices have decreased 1.5 per cent since hitting a peak of $630,921 in June 2011.

Our market remained in a balanced state for most of the year, although higher levels of demand for detached properties in the region’s largest communities caused prices in certain areas to rise higher than others. For example, the benchmark price of a single-family detached home experienced double-digit increases in nine areas within the region over the last 12 months.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,629 in December 2011. This represents a 4.1 per cent decline compared to the 1,699 units listed in December 2010 and a 49.4 per cent decline compared to November 2011 when 3,222 properties were listed.

Sales of detached properties in December 2011 reached 630, a decrease of 18.1 per cent from the 769 detached sales recorded in December 2010, and a 30.2 per cent decrease from the 902 units sold in December 2009. The benchmark price for detached properties increased 11.2 per cent from December 2010 to $887,471.

For updates and reports relating to more specific neighbourhoods contact Dean Wegman here.

MORE STATISTICS FOR KITSILANO CONDOS HERE

For more specific information, questions, or analysis on your home contact Kitsilano real estate expert Dean Wegman here. 

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The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years.

Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions. Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,374 in October, which is on par with the 10-year average. This represents an 18.3 per cent increase compared to October 2010, when 3,698 properties were listed for sale on the MLS®, and a 23 per cent decrease compared to the 5,680 new listings reported in September 2011.

The total number of properties listed for sale on the Greater Vancouver MLS® system currently sits at 15,377, which is 9.3 per cent higher than the 14,075 properties listed for sale during the same period last year. October was the first month that the total number of property listings showed a decrease this year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.5 per cent to $622,955 in October 2011 from $579,349 in October 2010. However, since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.3 per cent.

Sales of detached properties in October reached 974, which represents virtually no change from the 976 detached sales recorded in October 2010, and a 34.5 per cent decrease from the 1,487 units sold in October 2009. The benchmark price for detached properties increased 11 per cent from October 2010 to $884,778, but decreased 1.3 per cent compared to the previous month.

Sales of apartment properties reached 958 in October, a 2.6 per cent decrease compared to the 984 sales in October 2010, and a decrease of 40.4 per cent compared to the 1,607 sales in October 2009. The benchmark price of an apartment property increased 3.2 per cent from October 2010 to $402,702, but decreased 0.7 per cent compared to the previous month.

Attached property sales in October totalled 382, a 1.3 per cent increase compared to the 377 sales in October 2010, and a 37.4 per cent decrease from the 610 attached properties sold in October 2009. The benchmark price of an attached unit increased 6.5 per cent between October 2010 and 2011 to $519,455, and increased half a per cent compared to the previous month.

For updates and reports relating to more specific neighbourhoods contact Dean Wegman here.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010. Those sales also rank as the third lowest total for September over the last 10 years.

There's more competition amongst home sellers in today's market, providing more options for prospective buyers. Buyers now have more properties to choose from and more time to make decisions compared to the spring season.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,680 in September, the third highest volume for September in 17 years. This represents a 20.1 per cent increase compared to September 2010 when 4,731 properties were listed for sale on the MLS® and a 21.2 per cent increase compared to the 4,685 new listings reported in August 2011.

The number of properties listed for sale on the Greater Vancouver MLS® system has increased each month since the beginning of the year. At 16,085, the total number of residential property listings on the MLS® increased 4.6 per cent in September compared to August 2011 and rose 4.4 per cent compared to this time last year.

Our sales-to-active-listing ratio currently sits at 14 per cent, which is the lowest it’s been this year. Generally analysts say that a buyer’s market takes shape when the ratio dips to about 12 to 14%, or lower, for a sustained period of time.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.8 per cent to $627,994 in September 2011 from $577,174 in September 2010.

Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 0.5 per cent.

Sales of detached properties on the MLS® in September 2011 reached 957, an increase of 10.5 per cent from the 866 detached sales recorded in September 2010, and a 32.8 per cent decrease from the 1,423 units sold in September 2009. The benchmark price for detached properties increased 13.4 per cent from September 2010 to $896,701.

Sales of apartment properties reached 922 in September 2011, a 5 per cent decrease compared to the 971 sales in September 2010, and a decrease of 38.1 per cent compared to the 1,489 sales in September 2009. The benchmark price of an apartment property increased 4.4 per cent from September 2010 to $405,569.

Attached property sales in September 2011 totalled 367, a 4.2 per cent decrease compared to the 383 sales in September 2010, and a 43.3 per cent decrease from the 647 attached properties sold in September 2009. The benchmark price of an attached unit increased 5.4 per cent between September 2010 and 2011 to $516,697.

For updates and reports relating to more specific neighbourhoods contact Dean Wegman here.

MORE STATISTICS FOR KITSILANO CONDOS HERE

For more specific information, questions, or analysis on your home contact Kitsilano real estate expert Dean Wegman here. 

To receive your own free customizable Vancouver real estate market report click here.

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The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,378 in August. This total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third lowest total for August in the last 10 years.

MLS® statistics continue to indicate that we’re in a balanced market.  However, with a sales-to-actives listings ratio of 15 per cent, Greater Vancouver is in the lower end of a balanced market and has been trending toward a buyers’ market over the past three months.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,685 in August. This represents a 24.9 per cent increase compared to August 2010 when 3,750 properties were listed for sale on the MLS® and an eight per cent decline compared to the 5,097 new listings reported in July 2011. Last month’s new listing total was the highest volume recorded for August in 16 years.

At 15,437, the total number of residential property listings on the MLS® increased 1.4 per cent in August compared to July 2011 and rose 0.1 per cent compared to this time last year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.5 per cent to $625,578 in August 2011 from $576,597 in August 2010.

Year over year, prices are up. However, in the detached home category, benchmark prices have come down slightly in each of the past two months. It’s important for people entering the market to understand that activity can differ significantly depending on the area and property type.

Sales of detached properties on the MLS® in August 2011 reached 1,020, an increase of 14.2 per cent from the 893 detached sales recorded in August 2010, and a 25.4 per cent decrease from the 1,367 units sold in August 2009. The benchmark price for detached properties increased 11.7 per cent from August 2010 to $888,243.

Sales of apartment properties reached 955 in August 2011, a 2.1 per cent increase compared to the 935 sales in August 2010, and a decrease of 34.8 per cent compared to the 1,464 sales in August 2009. The benchmark price of an apartment property increased 5.6 per cent from August 2010 to $407,457.

Attached property sales in August 2011 totalled 403, a 7.8 per cent increase compared to the 374 sales in August 2010, and a 33.9 per cent decrease from the 610 attached properties sold in August 2009. The benchmark price of an attached unit increased 4.5 per cent between August 2010 and 2011 to $511,433.

For updates and reports relating to more specific neighbourhoods contact Dean Wegman here.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,571 in July, a 14 per cent increase compared to the 2,255 sales in July 2010 and a 21.2 per cent decline compared to the 3,262 sales in June 2011.

We’re seeing less multiple offer situations in the market today compared to the last few months, but our members tell us that homes priced competitively continue to sell at a relatively swift pace. It’s taking, on average, 41 days to sell a property in the region, which is unchanged from June of this year.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,097 in July. This represents a 23.2 per cent increase compared to July 2010 when 4,138 properties were listed for sale on the MLS® and a 12 per cent decline compared to the 5,793 new listings reported in June 2011.

Last month’s new listing total was 8.6 per cent higher than the 10-year average for July, while residential sales were 17.3 per cent below the ten-year average for sales in July.

At 15,226, the total number of residential property listings on the MLS® increased 0.8 per cent in July compared to last month and declined 7.3 per cent from this time last year. The number of homes listed for sale in the region has increased each month since the start of the year, which is giving buyers more selection to choose from and more time to make decisions.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 9.2 per cent to $630,251 in July 2011 from $577,074 in July 2010.

Sales of detached properties on the MLS® in July 2011 reached 1,099, an increase of 21 per cent from the 908 detached sales recorded in July 2010, and an 31.9 per cent decrease from the 1,614 units sold in July 2009. The benchmark price for detached properties increased 13.3 per cent from July 2010 to $898,886.

Sales of apartment properties reached 1,040 in July 2011, a 6.2 per cent increase compared to the 979 sales in July 2010, and a decrease of 39.1 per cent compared to the 1,708 sales in July 2009. The benchmark price of an apartment property increased 4.5 per cent from July 2010 to $405,306.

Attached property sales in July 2011 totalled 432, a 17.4 per cent increase compared to the 368 sales in July 2010, and a 45.5 per cent decrease from the 792 attached properties sold in July 2009. The benchmark price of an attached unit increased 6.9 per cent between July 2010 and 2011 to $524,909.

For updates and reports relating to more specific neighbourhoods contact Dean Wegman here.

MORE STATISTICS FOR KITSILANO CONDOS HERE

For more specific information, questions, or analysis on your home contact Kitsilano real estate expert Dean Wegman here. 

To receive your own free customizable Vancouver real estate market report click here.

MORE STATISTICS FOR KITSILANO CONDOS HERE

For more specific information, questions, or analysis on your home contact Kitsilano real estate expert Dean Wegman here. 

To receive your own free customizable Vancouver real estate market report click here.

For more specific information or questions contact Kitsilano real estate expert Dean Wegman here.

To receive your own free customizable Kitsilano real estate market report like this one click here.

For more specific information or questions contact Kitsilano real estate expert Dean Wegman here.

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An Andre Molare design. Location, Location, Location! Kits large one bedroom condo plus one bathroom facing north w/large balcony and lots of sunlight and a peek-a-boo view of the mountains that is both quiet and private. There is a large bedroom, 15' x 10', with a large closet. The living room is 14' x 12' which gives you lots of living space to hang out in. There is also 1 parking (#13) and 1 storage locker (#202) that is departmentalized. Free shared laundry in basement. You are 3 blocks to Kits Beach. Breakfast at Joe's Grill or Hell's Kitchen; lunch at Sophie's Cosmic Cafe & dinner at Trattoria or Las Margaritas. For groceries there's Safeway & Capers. There is clothes shopping at the boutique shoppes.

Just reduced from $349,900 to $339,000

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302-1888 YORK AVE

Located in the heart of Kitsilano! 1 bedroom corner unit, 676 sq ft with covered balcony & 2 parking stalls, sitting on the north side of this concrete building has partial Mountain view of North Shore.This functional floor plan features engineered hardwood flooring, quartz kitchen & bathroom countertops, custom-made closet organizers, new carpet, fresh paint and in-suite storage. You can walk to Granville Island,Kits Beach & South Granville art galleries within minutes or take your bike to Downtown on Burrard Bridge.

Just reduced from $399,900 to $387,000

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Looking back further, last month’s residential sales are 8.1 per cent below the ten-year average for sales in May. The three highest selling Mays ever recorded occurred in 2005, 2006 and 2007 when sales exceeded the 4,000 mark each year.

“With a sales to active listings ratio of 23 per cent, conditions continue to favour sellers in the Greater Vancouver housing market, but activity has eased away from the near record-setting pace we saw in March,” Rosario Setticasi, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,931 in May 2011. This represents a 15.4 per cent decrease compared to May 2010 when 7,014 properties were listed for sale on the MLS®, which was the second highest total for May on record. Last month’s new listings increased 1.4 per cent compared to April 2011.

At 14,656, the total number of residential property listings on the MLS® increased 2 per cent in May compared to last month and declined 16 per cent from this time last year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months increased 6.2 per cent to $627,568 in May 2011 from $590,662 in May 2010.

 “We’re seeing more activity at the high end of our market this year than we did one year ago. This is causing today’s average prices in the region to be less reflective of the total activity occurring in the marketplace,” Setticasi said. “The Housing Price Index benchmark prices are more accurate, reliable indicators of housing prices compared to averages.”

Of all residential properties sold on the MLS® in Greater Vancouver in 2011 to date 21 per cent sold for $1-million or higher and 20 per cent sold for $350,000 or lower. While 77 per cent of the properties that sold for over $1-million were located in West Vancouver, the Westside of Vancouver or Richmond, the properties that sold for $350,000 or lower were located throughout the entire Board area.

Sales of detached properties on the MLS® in May 2011 reached 1,570, an increase of 25 per cent from the 1,256 detached sales recorded in May 2010, and a 12 per cent increase from the 1,402 units sold in May 2009. The benchmark price for detached properties increased 10 per cent from May 2010 to $890,833.

Sales of apartment properties reached 1,228 in May 2011, a 9.3 per cent decrease compared to the 1,354 sales in May 2010, and a decrease of 15.8 per cent compared to the 1,458 sales in May 2009. The benchmark price of an apartment property increased 2.2 per cent from May 2010 to $407,419.

Attached property sales in May 2011 totalled 579, a 6 per cent increase compared to the 546 sales in May 2010, and a 12.8 per cent decrease from the 664 attached properties sold in May 2009. The benchmark price of an attached unit increased 3.5 per cent between May 2010 and 2011 to $517,787.

For updates and reports relating to more specific neighbourhoods contact Dean Wegman here.

Bridgewater by Bosa. Bright and functional south facing 2 bed 2 bath in Kitsilano. This corner Kitsilano townhome style condo has private entrance on West 4th Ave. Open plan with bedrooms on opposite sides of the living room, spacious kitchen. Hunter Douglas top down blinds provide sunlight and privacy at the same time. Gas fireplace, large windows, insuite storage and a great sundeck for bbq. This owner occupied building is rainscreened. Close to cafe, restaurants, parks, beach and UBC. Just move in!

Just reduced from $475,000 to $465,000

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Kitsilano half duplex (half of the main house), beautifully designed, very bright with windows on east, south and west sides. 3 ensuites; attached garage; gas fireplace; deluxe appliances; hardwood floor throughout the whole house. Enjoy the sun in patio, and grow your spices in the south facing garden. One block to 4th Ave, shops and restaurants. Don't miss it.

Just reduced from $1,388,000 to $1,328,000

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Very bright, beautifully maintained garden level townhouse in popular Kitsilano with lots of windows facing North, West and South. Bedrooms are separated with 2 full baths. Upgrades include hardwood flooring and tiles. This home features a beautiful South facing private patio surrounded by shrubs and trees. You get all of this on a beautiful tree-lined street close to all amenities. Measurements approx and to be verified by buyer.

Just reduced from $549,900 to $529,800

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Fantastic central location with a wonderful generous sized sun deck facing the north. This gorgeous updated Kitsilano condo offers stunning finishings, an open floor plan with 2 bedrooms, ensuite bathroom, on suite storage and a great natural gas firplace. Features include norse pearl granite countertops and brazillian walnut engineered hardwood floors. Pets and rentals allowed with restrictions. 1 Underground parking stall. 1 Storage Locker. Great building that has been partially rainscreened.

Just reduced from $479,900 to $469,900

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Kitsilano Townhouse living at its finest on tree lined Vine Street. Enjoy wonderful views across picturesque Connaught Park from all principal rooms in this WEST facing 2 bed 2 bath property fea. modern upgrades & functional built-ins.Super bright 1,144 sq.ft over 2 levels feat. a main floor w/open concept kitchen, dining & living rooms accented by gleaming hardwood floors, chic firepl. designer paint + access to a sunny patio for bbq's & summer dining. Large windows upstairs ensures plenty of natural light throughout a generous master bedroom w/large walk-in closet, shoe closet, ensuite bath & a spacious 2nd bedroom. Interior storage/laundry room with practical shelving & organizers. Walk to everything this area has to offer.

Just reduced from $899,000 to $849,000

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205-2410 CORNWALL AVE

LOCATION!LOCATION!LOCATION! Kits Beach & 10 mins. to D.T.! Roomy 1 Bedroom Kitsilano condo with Spacious, Beautiful, Private & Quiet Southern Exposure 15x17 patio! Bring your designer ideas, easy to re-create this floor plan 'In Style'!

Just reduced from $388,000 to $373,000

For more photographs or information click this link.. or contact Kitsilano condo specialist Dean Wegman here.

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For more specific information or questions contact Kitsilano real estate expert Dean Wegman here.

To create and receive your own free customizable Kitsilano real estate market report click here.

For more specific information or questions contact Kitsilano real estate expert Dean Wegman here.

To create and receive your own free customizable Kitsilano real estate market report click here.

For more specific information or questions contact Kitsilano real estate expert Dean Wegman here.

To create and receive your own free customizable Kitsilano real estate market report click here.

KITSILANO. Great north of 4th location. This is an extremely efficient suite, essentially a one bedroom Kits condo but with a section of bedroom wall open to the living room. The strata plan shows 590 sf which includes the generous balcony area, so net size of the suite is about 500 sf. This is as good as top floor, with only a deck above. The building is worry-free, with an extensive list of updates including roof, boiler, piping, balconies, and parkade membrane. Glorious views from the roof top deck, and pets and rentals are allowed. Great opportunity for an investor or for a first-time buyer to own a home in Kits! Quick possession.

Just reduced from $295,000 to $287,000

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208-2161 12TH AVE W

You want it and now you got it. The Carlings - 1-Bedroom plus Den Kitsilano condo. Spacious and bright south-facing home with balcony. This home features an open-floor plan with gas range and fireplace. Kitchen stainless steel appliances with shaker-style cabinetry. Located in very convenient location and close to all amenities. Easy to show. Call listing realtor to book an appointment.

Just reduced from $459,900 to $439,900

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I'm proud to present 2092 York Ave. When location is everything, welcome home to Kits Mews. This perfectly situated, beautifully appointed 3 level Kitsilano townhome greets you with open concept living & dining on the main floor, complete with private side patio, perfect for entertaining and summer bbq's. One level up you will find a flexible 2 bedroom, or 1bedroom + large media room/home office to contour to your needs. Escape to the third floor for peace and tranquility in the master suite, complete with private ensuite. Leave the car at home, and live amongst everything that defines a perfect "Kits Lifestyle". Swimming, parks, beach, shopping, cafes & dining just a short stroll from home.

Just reduced from $1,048,000 to $988,000

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603-2445 3RD AVE W

Rarely available! Bright and spacious two bedroom, two bath Kitsilano condo with incredible 180 degree panoramic water, city and mountain views from every room and deck. Totally renovated and freshly painted with new Hunter Douglas roller blinds throughout. Brand new kitchen with Silestone counters, top of the line s/s appliances plus totally renovated baths. Carriage house - Kitsilano's premier building, offers beautiful mature gardens with an outdoor pool and tennis courts. Excellently maintained with a live in caretaker. Bonus of two parking spots. This is truly special!

Just reduced from $1,098,000 to $1,058,000

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Come home to Cedar Mews - a 1922 heritage building which was converted in 1998. This gorgeous South East corner one bedroom Kitsilano condo shows like now other: hardwood floors, custom built-in cabinetry in the bedroom, hall study, kitchen and living rooms, brand new stainless steel fridge, stove and microwave hood fan, new hardware, lighting, surround sound and more. Enjoy the spacious high ceilings and the character of the original wood beams and exposed brick work and relax on the shared rooftop deck with panoramic views of the mountains and city. A short walk takes you to South Granville and Kitsilano shops, transit, parks and restaurants.

Just reduced from $589,800 to $565,000

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P3-2410 CORNWALL AVE

A rare find! Unobstructed views of water, city & mountains from the private rooftop deck of this perfectly located Kitsilano penthouse suite=invaluable. Live the ultimate Vancouver lifestyle where your toughest decision is whether to hang out at home on one of two private outdoor areas(a S-facing balcony AND roof top deck)or cross the street to enjoy the beach. This 2 bedroom, 1 bathroom, 2-level Kits condo is completely renovated with bamboo hardwood flooring, new kitchen cabinets, granite counter tops, high-end stainless steel appliances, updated bathroom & new washer/dryer. The building is well-maintained-new roof in 2010-replumbed in 1999. One parking & storage locker. Rentals at max, pets welcome. This is the one you've been waiting for!

Just reduced from $599,000 to $575,000

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PULSE, located on the corner of Broadway and Maple in Kitsilano was built by Bastion Developmens. The building is a fusion of glass, concrete and steel that captures Kits modern edge and just steps away from the best the area has to offer.City, water and mountain views from the floor to ceiling windows flood the interior with natural light. This 1 bedroom & den Kitsilano condo features an open floorplan with sliding glass doors dividing the living room & bedroom. The look is clean and sophisticated. The gourmet kitchen has granite counters and high end Bosch appliances. The harmonious bathroom offers heated floors, CesarStone quartz counters, top of the line Kohler bathroom fixtures. BRAND NEW, NEVER OCCUPIED & NO HST.

Just reduced from $518,000 to $499,800

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NO HST! EXTREMELY SPACIOUS SINGLE LEVEL 1 YEAR OLD "KITS" TOWNHOME IN CHARACTER FOURFLEX. Large open plan living/dining/kitchen, 2 well separated bedrooms + 2 full baths, superior finishing throughout including hardwood, granite & deluxe appliance package (Bosch gas range, Bosch dishwasher, Fisher Paykel fridge). Garden level with windows on 3 sides. Private patios front & back. 1 parking + storage shed. Just 4 homes in the strata. Attractive Heritage-style exterior & 2/5/10 Warranty. Lovely tree-lined residential street, steps to all amenities on West Broadway & 10 minutes walk to the beach.

Just reduced from $669,900 to $649,900

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The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011.

Looking back further, last month’s residential sales represent an 8.8 per cent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a 4.8 per cent decline compared to the 3,387 sales in April 2007.

“While it continues to be a seller’s market in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,” Rosario Setticasi, REBGV president said. “The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS®, as there were more detached and townhome sales this April compared to last year.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,847 in April 2011. This represents a 23.5 per cent decline compared to April 2010 when 7,648 properties were listed for sale on the MLS®, which was an all-time record for April. Compared to March 2011, last month’s new listings total registered a 14 per cent decline.

At 14,187, the total number of residential property listings on the MLS® increased 8.2 per cent in April compared to last month and declined 10 per cent from this time last year.

“There’s considerable variation in activity within the communities in our region. This is causing home price trends to differ depending on the area,” Setticasi said. “Your local REALTOR® is a valuable resource for obtaining the most accurate, up-to-date market evaluation.”

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5 per cent to $622,991 in April 2011 from $593,419 in April 2010.

Sales of detached properties on the MLS® in April 2011 reached 1,402, an increase of 2.3 per cent from the 1,370 detached sales recorded in April 2010, and a 17.8 per cent increase from the 1,190 units sold in April 2009. The benchmark price for detached properties increased 7.4 per cent from April 2010 to $879,039.

Sales of apartment properties reached 1,201 in April 2011, a 21.3 per cent decrease compared to the 1,526 sales in April 2010, and an increase of 1.9 per cent compared to the 1,179 sales in April 2009. The benchmark price of an apartment property increased 2.9 per cent from April 2010 to $409,242.

Attached property sales in April 2011 totalled 622, a 1 per cent increase compared to the 616 sales in April 2010, and a 4.7 per cent increase from the 594 attached properties sold in April 2009. The benchmark price of an attached unit increased 2.4 per cent between April 2010 and 2011 to $514,670.

For information relating to more specific neighbourhoods contact us here.

I am a Kitsilano condo and I have a massive deck! Straight-up I have to be honest... it is huge with a full sized hottub and sexy landscaping! If that is your thing, then look no further. It is great for entertaining, gardening, or just for pure enjoyment. Inside I am not too shabby either. I have been fully made over from head to toe. My location couldn't be better. I am just far enough from the hustle and bustle of Kits to enjoy peace and quiet, but close enough that a short walk brings you to all that Kits has to offer.

Just reduced from $349,900 to $339,900

For more photographs or information on this Kitsilano condo click this link.

To view previous Kitsilano real estate updates click here.

Immaculately kept 2 BDRM townhouse in the lower Shaughnessy area. This safe urban retreat is located on a picturesque tree lined street just steps to the South Granville shopping area, Granville Island, Kits Beach, Downtown, and the top ranked Lord Tennyson elementary school. This gem has a large South facing yard that has direct access to the detached garage. It also boasts two upper decks with mountain and city views. Quality upgrades throughout which include: hardwood floors, crown mouldings, top of the line stainless steel appliances, new window coverings. Exterior upgrades include; new roof, new paint, and a new fence. Also a large common storage area and crawl space.

Just reduced from $729,000 to $699,900

 For more photographs or information on this Kitsilano condo click this link.

109-2033 7TH AVE W

Rarely available 2 bedrooms in Kits under $400K. End unit, ground floor with extended outdoor space. 2 bedrooms 1 bathroom, tastefully updated. The building is awesome, plumbing was done in 2003, newer roof, new front entrance d?cor, , new elevator, boiler, and new shared laundry machines operated on a card system. The location is great just steps away from 4th Ave shopping and cafes, close to public transit and West Broadway...everything Kits has to offer is just minutes away.

Just reduced from $399,000 to $389,000

For more photographs or information on this Kitsilano condo click this link.

To view previous Kitsilano real estate updates click here.

113-3250 BROADWAY W

Fantastic central location with a wonderful generous sized sun deck facing the north. This gorgeous updated Kitsilano condo offers stunning finishings, an open floor plan with 2 bedrooms, ensuite bathroom, on suite storage and a great natural gas firplace. Features include norse pearl granite countertops and brazillian walnut engineered hardwood floors. Pets and rentals allowed with restrictions. 1 Underground parking stall. 1 Storage Locker. Great building that has been rainscreened.

Just reduced from $499,900 to $489,900

For more photographs or information on this Kitsilano condo click this link.

304-2190 8TH AVE W

FULLY RENOVATED KITS CONDO, with $40,000 invested, it produced a modern & spacious 800 sqft 2 bedroom & 2 bath apartment in the popular Westwood Villa complex. This top floor, corner suite with SE exposure features a large wrap-around balcony, in-suite laundry, lots of storage, amazing kitchen with new stainless steel appliances and new EVERYTHING! Combined with 1 parking stall, 1 storage locker and a great floor plan. Enjoy the community and amenities nearby in this amazing Kits location. Please see REALTORS website for further information.

Just reduced from $524,900 to $519,900

For more photographs or information on this Kitsilano condo click this link.

To view previous Kitsilano real estate updates click here.

111-2455 YORK AVE

Nestled in the heart of Kits, a block from the beach on desirable York Ave, your dream home awaits. Surrounded by cherry blossom & magnolia trees, this character bldg has been completely renovated in 2010, fully rain-screened with warranty, new windows, doors, roofs, skylights, siding, entrance, paint & much more. Suite #111 boasts a fully renovated interior: new open concept kitchen, bathrooms, charcoal slate flooring, lighting & appliances. Granite counters & a scalloped hardwood floor are warmed by the wood-burning fireplace. A rebuilt 170sf south-facing patio baths the unit in sun & provides your own private entrance. Huge closets, in-suite & bldg storage plus a large den, round out this 2 bdrm gem making it a must see!

Just reduced from $688,000 to $658,000

For more photographs or information on this Kitsilano condo click this link.

To view previous Kitsilano real estate updates click here.

613-2268 BROADWAY W

The Vine on West Broadway, located in the heart of Kitsilano! This almost brand new, sophisticated, concrete 1-Bedroom and Den Suite with easterly exposure sits aloft on the 6th level overlooking the elevated, private courtyard and located on the quiet side of the building. This functional unit also boasts features such as engineered hardwood flooring, stainless steel appliances, granite countertops, spacious storage room that can be converted into sutdy/computer room, sundrenched den/solarium, private balcony and secure underground parking. Centrally located minutes from public park & transportation, IGA Marketplace, London Drugs and all the luxuries & amenities that West Broadway has to offer!

Just reduced from $465,000 to $450,000

 For more photographs or information on this Kitsilano condo click this link.

103-2815 YEW ST

Townhouse style living in Arbutus Walk! Private entrance from 155sq.ft. patio is great for entertaining. Features open layout, spacious 1 bedroom with walk-in closet, large kitchen, new stainless steel appliances, in suite storage as wellas storage locker & parking. Great building with proactive strata. Rentals & Pets Allowed.

Just reduced from $399,900 to $394,900

For photographs and information on this Kitsilano condo contact Dean here.

To view previous Kitsilano real estate updates click here.

103-2815 YEW ST

Townhouse style living in Arbutus Walk! Private entrance from 155sq.ft. patio is great for entertaining. Features open layout, spacious 1 bedroom with walk-in closet, large kitchen, new stainless steel appliances, in suite storage as wellas storage locker & parking. Great building with proactive strata. Rentals & Pets Allowed

Just reduced from $399,000 to $394,900

 For more photographs or information on this Kitsilano condo click this link.

2092 YORK AVE

I'm proud to present 2092 York Ave. When location is everything, welcome home to Kits Mews. This perfectly situated, beautifully appointed 3 level townhome greets you with open concept living & dining on the main floor, complete with private side patio, perfect for entertaining and summer bbq's. One level up you will find a flexible 2 bedroom, or 1bedroom + large media room/home office to contour to your needs. Escape to the third floor for peace and tranquility in the master suite, complete with private ensuite. Leave the car at home, and live amongst everything that defines a perfect "Kits Lifestyle". From swimming, parks & the beach, to shopping, cafes and dining, all just a short stroll from home.

Just reduced from $1,048,000 to $999,000

For photographs and information on this Kitsilano condo contact Dean here.

405-2525 BLENHEIM ST

Wow!! Immaculate supersized, top floor, very bright & spacious at THE MACK open plan with panoramic north mountain & city views!! Owner has upgraded this unit with new granite countertops & dark laminate flooring throughout. Den was taken out to create a more open plan. Stainless steel Frigidaire gallery appliances, gas stove, double sided electric F/P in bdrm & LR, open balcony, insuite laundry, large insuite storage, room with B/I closet organizers, large open kitchen w/breakfast bar/island, tiled entry, U/G parking, boutique brick contemporary building! Prime Kits location next to every amenity! Balance of 2-5-10 yr warranty.

Just reduced from $469,900 to $449,900

For photographs and information on this Kitsilano condo contact Dean here.

To view previous Kitsilano real estate updates click here.

212-2680 4TH AVE W

New designer paint & maple engineered floors. Bright, open plan offers Murphy bed system, new halogen lighting, insuite laundry plus loads of storage. Over 110 sq ft balcony with treed outlook. Common rooftop deck with BBQ. Show suite condition. Close to the best of Kitsilano shops, dining & beaches.

Just reduced from $309,000 to $304,900

For photographs and information on this Kitsilano condo contact Dean here.

To view previous Kitsilano real estate updates click here.

203-2211 5TH AVE W

"Stunning Kit's Location!" East facing end unit with outlook to Yew St, allowing plenty of light. Featuring hardwood floors, open & spacious layout with flex space used as bedroom. Kitchen with a nook. Large balcony. This is a really solid and well maintained Kitsilano building. Newly renovated lobby, plumbing re-done 2002, new roof 2004, new exterior paint 2005. "NO RENTAL RESTRICTIONS" 1 pet allowed, no weight restrictions if it's a dog. Close to UBC, walk to Kit's beach, Granville market, 1 blk to restaurants & shopping. A wonderful place to live or great investment opportunity.

Just reduced from $379,000 to $349,800

For more photographs and information on this Kitsilano condo contact Dean here.

To view previous Kitsilano real estate updates click here.

102-2006 2ND AVE W

Kitsilano living at its best. Welcome to Maple Park West. Fabulous 2 storey townhouse with private entrance on Maple. Buy with confidence. Building has been rainscreened with new roof and is meticulously cared for by pro-active council. Fabulous location close to the beach and everything W. 4th has to offer and shopping and fabulous dining. Walk to everything with only 11 units in this complex opportunities like this don't come along very often.

Just reduced from $499,000 to $489,838

For more photographs and information on this Kitsilano townhome click this link

202-3290 4TH AVE W

Bright & airy best describes this 2 bedroom corner suite strategically overlooking McBride Park with its own tennis courts. Enjoy your morning coffee on the spacious sundeck with its vista over the park (NW-facing). Outstanding floorplan w/eating area off the kitchen, spacious living room w/gas fireplace & master bedroom with ensuite. This freshly painted suite is ready for your approval today!

Just reduced from $598,500 to $539,900

For more photographs and information on this Kitsilano townhome click this link

To view previous Kitsilano real estate updates click here.

For more information on these or any other Kitsilano condos and townhomes contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

103-1844 7TH AVE W

This spacious Kitsilano condo looks like new with all new Paint and Carpet. Easy access ground floor home features a lovely private patio area and an updated bathroom with granite counter tops. Building is in sound condition with plumbing lines redone and a major $65,000 upgrade to the elevator just last year so maintenance fees which include heat and hot water should stay low. Many long time owners make this well run property a great place to live. Only steps to buses and shopping. Right on the bike route. Don't miss this one!

Just reduced from $449,000 to $429,000

For more photographs and information on this Kitsilano condo click this link

2092 YORK AVE

I'm proud to present 2092 York Ave. When location is everything, welcome home to Kits Mews. This perfectly situated, beautifully appointed 3 level Kitsilano townhome greets you with open concept living & dining on the main floor, complete with private side patio, perfect for entertaining and summer bbq's. One level up you will find a flexible 2 bedroom, or 1bedroom + large media room/home office to contour to your needs. Escape to the third floor for peace and tranquility in the master suite, complete with private ensuite. Leave the car at home, and live amongst everything that defines a perfect "Kits Lifestyle". From swimming, parks & the beach, to shopping, cafes and dining, it's all just a short stroll from home.

Just reduced from $1,098,000 to $1,048,000

For more photographs and information on this Kitsilano townhome click this link

To view previous Kitsilano real estate updates click here.

1955 12TH AVE W

Heritage style townhome in Lower Shaughnessy. Beautifully designed with bright open living spaces. Refined millwork & cabinetry, stone countertops, imported tiles. A welcoming covered veranda gives you your own home 1st impression, striking chef's kitchen, Liebherr fridge with ice maker & many more luxurious features such as both bedrooms have their own ensuite bathrooms. This is truly a "timeless old world charm". Located in a vibrant neighborhood, steps to restaurants, park & West Broadway.

Just reduced from $978,000 to $958,000

For more photographs and information on this Kitsilano townhome click this link

To view previous Kitsilano real estate updates click here.

103-1844 7TH AVE W

This spacious Kitsilano condo looks like new with all new Paint and Carpet. Easy access ground floor home features a lovely private patio area and an updated bathroom with granite counter tops. Building is in sound condition with plumbing lines redone and a major $65,000 upgrade to the elevator just last year so maintenance fees which include heat and hot water should stay low. Many long time owners make this well run property a great place to live. Only steps to buses and shopping. Right on the bike route. Don't miss this one!

Just reduced from $465,000 to $449,000

For more photographs and information on this Kitsilano condo click this link

505-2445 3RD AVE W

Spacious, south facing 1BR/den/office, in suite-laundry, walk thru closet, balcony, all new windows, lush manicured grounds, caretaker, o/d pool, tennis courts,party room, sauna, lane access to UG secured parking, intercom. All this in the Carriage House, a centrally located, premier hi-rise condo in Kits. Walk to beach for a swim, watch the sunsets, enjoy the summer theatre and fireworks. West 4th is a block away where you can enjoy the cafes, restaurants or shop to your heart's content. This location has it all, a rare offering. Senior friendly and wheel chair accessible.All measurements are appriximate,buyer to verify.

Just reduced from $549,000 to $528,900

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

For more information on these or any other Kitsilano condos and townhomes contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

1852 11TH AVE W

Immaculately kept 2 BDRM townhouse in the lower Shaughnessy area. This safe urban retreat is located on a picturesque tree lined street just steps to the South Granville shopping area, Granville Island, Kits Beach, Downtown, and the top ranked Lord Tennyson elementary school. This gem has a large South facing yard that has direct access to the detached garage. It also boasts two upper decks with mountain and city views. Quality upgrades throughout which include: hardwood floors, crown mouldings, top of the line stainless steel appliances, new window coverings. Exterior upgrades include; new roof, new paint, and a new fence. Also a large common storage area and crawl space.

Just reduced from $749,900 to $729,000

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

2675 10TH AVE W

Spacious 1200 Sq.ft. 2 bdrm, 2 bath, 2 level kitsilano townhome. Great central Kits Location -walk to everything. Recent renovations include kitchen, bathrooms, flooring, lighting, real wood shutters and paint. Sunny, private roof deck with partial downtown and mountain views, quiet street. 2nd large patio off diining area - perfect for entertaining. Lots of storage. One secure U/G parking. Pets allowed with restrictions, no rentals. Low maintenance fee.

Just reduced from $735,000 to $705,000

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

FULLY RENOVATED 2 BEDROOM + DEN KITSILANO TOWNHOME THAT FEELS LIKE A HOUSE! SUITE: Spacious living and dining area perfect for dinner parties with Brazillian Cherry hardwood, gas fireplace, built-in entertainment centre and a sliding door to patio.Pristine kitchen with quartz counter tops, stainless steel appliances and eating area. 2 large bedrooms with a semi-ensuite bathroom off master with natural light from skylight and open den on the 3rd floor with a fabulous west facing roof top deck! (permits already approved to enclose deck to make 3rd bedroom) BUILDING: SIGNATURE COURT -- well run 7 unit boutique complex in one of the best locations in Kits! 1 parking and lots of storage! DON'T DELAY!

Asking price $798,000

For more photographs and information on this Kitsilano condo click this link

To see more 1 bedroom Kitsilano condos for sale click here. To read more about Kitsilano real estate conditions click here.

For more information on these or any other Kitsilano condos and townhomes contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

103-1959 2ND AVE W

Your own townhouse style condo in Prime Kitsilano! 1 bdrm, 1 bath, 548 sq. ft. ground floor unit includes new cabinets, S/S appliances and granite countertops. Engineered oak floors and new carpet in the bedroom. Cork floor in the bathroom and crown mouldings throughout. The suite has 2 private entrances and a landscaped 140 sq. ft. garden patio that would make all your friends jealous with additional 140 sq. ft. common property side garden patio as well. Insuite laundry! Great insuite storage/utility closet as well as separate storage locker. 1 parking underground. Rooftop patio. This fantastic suite will grab your attention! Sorry no pets!

Just reduced from $389,000 to $378,000

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

303-2130 12TH AVE W

Estate Sale. Just renovated and ready to move in to this Kitsilano condo! This centrally located large unit is priced to move quickly. Close to all amenities, including school,public transprotation and the local gym. It will please the most discriminating buyer.

Just reduced from $568,800 to $538,800

For more photographs and information on this Kitsilano condo click this link

309-2228 BROADWAY W

At the Vine, podium level 1 bdrm with West facing deck opens to quiet and private interior courtyard on the 3rd level - not busy Broadway. Great entertainment sized patio and common deck area, prefect for BBQ and garden enthusiasts. Granite counters, hardwood floors, insuite laundry, all in this 3 year old concrete building.

Just reduced from $465.000 to $455,000

For more photographs and information on this Kitsilano condo click this link

 2506 8TH AVE W

Luxury 2 bedroom, 3 bath Kitsilano townhouse on a beautiful corner lot in the heart of Kits. Quality finishing with cherry wood cabinets, granite counters & stainless steel appliances in the kitchen, crown mouldings, gas fireplace, hardwood floors & central sound system. There are 3 decks & a one car garage with additional storage. This Building is virtually a smart home, equipped & wired as an Intranet Network, automated irrigation system & security system. If you need more space, there is a common self contained 424 sqft suite that can be rented. Conveniently located close to great restaurants, shopping, community centre & schools.

Just reduced from $1,068,000 to $998,000

For more photographs and information on this Kitsilano condo click this link

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The ULTIMATE SKY HOUSE IN "MONAD" by Intelligent City!! This bright N & S facing Kitsilano Penthouse is truly one of the most contemporary spaces on the Westside. Over 1700 sqft of open living space and 500 sqft of outdoor living space including an amazing rooftop terrace w/unobstructed 360 DEGREE views of the OCEAN, MOUNTAINS & MCBRIDE PARK. The entire suite has over 30' wide floor to ceiling windows on South side of both levels & 18' of windows over-looking the North courtyard. Interiors of modern sophistication incl integrated kitchen styled with custom "beach" oak cabinetry, Bosch and Liebherr appliances with in-floor radiant radiant heating system and is being built to the highest standards. Very unique opportunity to customize.

Asking Price $1,598,000

For more photographs and information on this Kitsilano condo click this link

To see more 1 bedroom Kitsilano condos for sale click here. To read more about Kitsilano real estate conditions click here.

101-2226 12TH AVE W

This 1 bdrm + den Kitsilano condo with insuite laundry is centrally located to all that Kits and Arbutus Walk have to offer. Kits Beach, Connaught Park, shopping, dining, community center, schools and transit are all nearby. A great open plan with engineered hardwood flooring. This rainscreened building has the balance of new home warranty. One entrance from the building and another from the fenced-in, greenery-surrounded patio which is easily large enough for summer entertaining and barbequing. Pet friendly for animal lovers (straight out the front door for a walk!) and rentals OK for the investor. 1 prkg, 1 storage and bike room in secure underground.

Just reduced from $428,800 to $418,800

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

For more information on these or any other Kitsilano condos and townhomes contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

2566 4TH AVE W

Spacious prime Kits 2 Bdrm/2 Bath Kitsilano Townhome w/ Mtn views & terrific outdoor space is walking distance to beaches & on bus route to DT or UBC. Lovely vaulted ceiling & wood-burning fireplace in large living room (house sized furniture!). Has lots of windows w/ great light in this corner unit. Open kitchen w/ stainless appliances & double sink plus BBQ deck off dining area! Also a fabulous private roof deck w/ terrific views & watch the fireworks! Great insuite storage PLUS a locker (#2566) & 1 secure parking (#7) & all in solid building w/ pro-active strata! Pets/rentals OK but w/ restrictions.

Just reduced from $514,000 to $499,000

For more photographs and information on this Kitsilano townhome click this link

To view previous Kitsilano real estate updates click here.

Located half a block from Kits beach, this completely & beautifully renovated 660 SF condo features all high quality finishing details, not even found in brand new developments, High-gloss cabinets complimented by beautiful granite countertops, paired with high end stainless appliances make this unit one of a kind! Enjoy the mountain & city view from your patio. 1 parking &same floor storage locker included.

Asking Price $379,000

For more photographs and information on this Kitsilano condo click this link

To see more 1 bedroom Kitsilano condos for sale click here. To read more about Kitsilano real estate conditions click here.

Location, location, location, right across from Kits beach. Unique 2 level apartment in the heart of Kitsilano. This spacious suite is almost 1400 sq.ft. and features 3 generous bdrms, 2 full baths, vaulted ceilings, skylights, fireplace, 2 secured parking spaces, and additional storage. Entertain on the common roof deck and enjoy the fireworks. Pets and Rentals welcome. Tenanted month to month $2,890.

Just reduced from $719,000 to $699,000

For more photographs and information on this Kitsilano condo click this link

 305-2688 VINE ST

TREO in ARBUTUS WALK. Lovely 1 Bedroom and Den Kitsilano condo, Balcony home updated throughout; freshly painted with brand new Oak Hardwood Floors in a Contemporary Finish, installed by Jordan's Interiors. The Open Concept design focal points are the large windows, inviting Gas Fireplace, open kitchen with Maple Cabinetry and Gas top range. A greater feeling of space is accomplished with generous over height 9' ceilings. TREO is across from Kitsilano's Connaught Park and just steps to shopping, the beach, Kits Community Centre and restaurants and is also convenient to Public Transport, UBC and Downtown. Complex Amenities include Bike Rooms, Lounge and Fitness Area. 1 Parking, In-suite laundry. The perfect Kitsilano home awaits you!

Just reduced from $389,000 to $378,000

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

For more information on these or any other Kitsilano condos and townhomes contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

Kits Point two level townhouse. Live the dream north of Cornwall; best location in Kits; this rarely available South West facing townhouse has everything you're looking for including: Extra large renovated kitchen w/ skylight featuring Silestone countertops, gas cooktop and top of the line GE appliances. Open living/dining plan w/ vaulted ceilings, gas fireplace, balcony. Almost 700 sq ft. of outdoor space with a private rooftop deck plus your own fenced in garden patio facing beautiful, tree-lined Walnut St. Two minute walk to Kits beach, and steps to Granville island.

Asking Price $ 875,000

For more photographs and information on this Kitsilano condo click this link

To see more Kitsilano townhouses for sale click here. To read more about Kitsilano real estate conditions click here.

208-2330 MAPLE ST

Sunny and warm south facing 1 bedroom Kitsilano condo with covered balcony for year round BBQ's and plant lovers. Recently renovated with full size stainless kitchen and Maple cabinets. Hardwood laminate throughout. Extras include entertainer's pass through, large pantry, office nook, bike room and basement storage. Stroll to Broadway and West 4th Ave for morning coffee and shopping. Pets and rentals OK. Kit's beach for the summer!

Just reduced from $319,900 to $315,000

 For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

3-1954 11TH AVE W

Fabulous fully renovated executive ground level Kitsilano townhome in prime Kits location! Over 1220 sq. ft. of well laid out floor plan in this open concept 2 bedroom, 2 bathroom home. Renovation included: kitchen, bathroom, living room, flooring,fixtures, lights, window coverings, and paint - over $55K in improvements. Enjoy your own private front patio, one open parking stall, high ceilings, in-suite storage and natural light from north, east and western exposures. Quiet tree-lined street close to schools, shopping, restaurants, etc. This well maintained 4 unit development was build int 2003 and was an early century 1910 heritage conversion project. View photos online and call for your private showing.

Just reduced from $769,000 to $748,000

For more photographs and information on this Kitsilano condo click this link

405-1808 1ST AVE W

One of a kind Premier Boutique Residence; "FIRST". this midrise CONCRETE building features the finest modern appointments! boasting 9'10 ceiling height, imported DADA Italian kitchens, Bosch/Fisher & Paykel/AEG Faber appliances, beautiful stone countertops, hardwood flooring, sleek finishings and energy efficient windows!! This highly desired kitsilano condo is situated on the quiet front side and middle of the building facing north looking onto Seaforth Peace Park and North Shore Mountains. This efficient floor plan features an open floor concept with flex space, enclosed and outdoor balconies, insuite laundry and large principal rooms. Only minutes to downtown, beach, shopping & schools - prime location in Vancouver!!

Just reduced from $649,000 to $639,000

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

For more information on these or any other Kitsilano condos and townhomes contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

307-1858 5TH AVE W

The Greenwich by Polygon. Well looked after and updated one bed and den Kitsilano condo. Facing Southeast with City view from spacious balcony. Large insuite storage currently used as office space, plus den off of living area creating a flexible floor plan. Freshly painted, wool carpets, and stainless appliances. Bathroom just upgraded with marble countertops, undermount sink & walnut cabinets. Bright & airy in a fully rainscreened high integrity building. Excellent location to Kits Beach, 4th Ave and Downtown.

Just reduced from $469,900 to $459,000

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

GORGEOUS VIEW LOFT - PERFECTLY SUITED FOR URBAN DWELLERS LOOKING FOR SOMETHING UNIQUE!! Sophisticated, yet edgy this t/house at Vancouver's DEVON COURT (with Neo classical architecture and Sandstone ionic columns) offers ultra modern decor and chic living in a boutique 5 unit circa 1911 structure - just steps from shopping, eateries, transit and the beach! Original brick feature wall in open concept living area, hardwood, stainless steel, sile stone, spa bath with rain shower, and Glorious 600+ sq. ft. private roof deck! All that you would expect - and nothing less than superb living!

Asking Price $ 1,249,000

For more photographs and information on this Kitsilano condo click this link

To see more 2 bedroom Kitsilano condos for sale click here. To read more about Kitsilano real estate conditions click here.

1812 11TH AVE W

This Heritage conversion Kitsilano townhouse sits on a picturesque tree lined street in Lower Shaughnessy. 2 bdrms, built with top quality workmanship and interior finishes boasting traditional style with a contemporary touch. Bright windows, vaulted ceilings, skylights, hardwood flooring throughout. Kitchen features high end S/S appliances w/gas ranges, granite kitchen countertops, maple cabinets, enste w/frameless glass shower, Kohler fixtures. Sunny patio, deck & beautiful garden. Gas F/P & outdoor BBQ.

Stroll from this quiet street to the vibrant neighbourhood of S Granville shops, Kits Beach & Granville Island. Close to Lord Tennyson French Immersion. Furnished rental pool average 3K month.

Just reduced from $918,000 to $889,000

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309-2228 BROADWAY W

At the Vine, podium level 1 bdrm with West facing deck opens to quiet and private interior courtyard on the 3rd level - not busy Broadway. Great entertainment sized patio and common deck area, prefect for BBQ and garden enthusiasts. Granite counters, hardwood floors, insuite laundry, all in this 3 year old concrete building.

Just reduced from $475,000 to $465,000

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 1-2188 8TH AVE W

GORGEOUS corner/end unit at the sought after Canvas complex. This unit is virtually brand new. Rarely available and way beyond the ordinary, this upscale home feels so elegant and special,but also contemporary, unique and modern. Quite a collection of features too including floating staircase, 10' ceilings, floor to ceiling windows/windows on three sides, wide-plank hardwood floors, quartz counter tops and stainless appliances, radiant in-floor heat, sumptuous and inviting bthrms with porcelain flooring, tile walls, soaker tub and floating cabinets. Entertainment-size south-facing patio and lots more. 3 levels with 2 bdrms, flex/3rd bdrm, 2 full bthrms. Lots of warranty too.

Just reduced from $939,000 to $918,000

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This amazing 2244 SF Kitsilano penthouse has been completely redone in 2000. A magnificent property offering stunning & breathtaking 360 degrees panoramic view all night & day. Premium material imported from Europe with outstanding craftsmanship. A gorgeous custom designed penthouse which you never seen before & you won't see in the future to come. This impressive home is 2244 SF 3 levels including the top deck. Bright deck elegant floor plan main floor has a luxurious kitchen & gorgeous island, dry pantry, large stone fireplace with vaulted high ceilings, crown mouldings, large picture windows. Shows like a brand new home features entertainment size L/R, D/R, F/R & large 2 bedrooms & 2 bathrooms. View from anywhere!

Asking Price $ 1,338,000

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103-2535 YORK AVE

KITSILANO AT ITS FINEST. A wonderful block north of 4th Ave. A spacious open floorplan with vaulted ceilings and skylights. This home is perfect for entertaining with large open kitchen, dining room and cozy living room. From the rooftop enjoy the SUNSETS the CRUISESHIPS and the WATER, CITY and MOUNTAIN views. Walk the BEACHES or enjoy the lively CAFE AND RESTAURANT scene. Well worth a look.

Just reduced from $1,029,000 to $988,000

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

For more information on these or any other Kitsilano properties contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

Fabulous location. Very unique space! South east facing, bright, concrete loft in Kits. 2 level corner suite w/16' ceilings & floor to ceilings windows. Open plan 2 bed & den, 2 bath, over 1000 sf on the QUIET side of the building. Features large open kitchen, gas fireplace, insuite laundry, large outdoor balcony, secured parking & great insuite storage. Walk to shops, restaurants & the beach.

Asking Price of $644,900

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1956 5TH AVE W

Sophisticated & stylish, quiet & bright end-unit T/H in a very central location in Kitsilano! 1324 sf of contemp. elegance with 2 bdr & Den (3rd bdr) each with ensuite! Gourmet kitchen with s/s appls, gas stove, ample granite countertops & cabinet space. South facing patio off kitchen for your outdoor entertaining. Open concept Main with Great Room design: high ceilings, Gas f/p, hardwood floors, Powder Room. Master suite with W/I Closet & spa-inspired bath with soaker tub & separate shower. Spacious 2nd bdr with full bath. Lower walk-out level Den with full bath & sliding door to private patio. Large insuite storage. 2 stalls, direct suite access from garage! Built in 2006 w/warranty. 2 pets (max 35 kg) & Rentals allowed.

Just reduced from $968,000 to $948,000

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203-3680 BROADWAY W

The Courtyard! The best one in the 4 top of the line self-managed townhomes. 12' overheight ceilings, open plan. 2 ensuite bdrm upstairs plus 2 dens up. Perfect for home office & study area. Pretty close to Bayview Elementary school and Kitsilano Secondary.

Just reduced from $755,000 to $699,000

For more photographs and information on this Kitsilano condo click this link

206-1935 1ST AVE W

GREAT KITSILANO LOCATION! North of 4th! 2 BLOCKS TO KITS BEACH! Steps to public transit, shops, restaurants! Quiet,Bright,Airy CORNER END UNIT with 2 BEDROOMS, 2 PARKING STALLS, new dishwasher, insuite laundry, bay windows, balcony, gas fireplace and hardwood flooring throughout! Proactive Strata with updates in 2007 NEW ROOF, Landscaping, 2008 Common Area Carpet, 2009 PLUMBING, 2010 New Fences, 2011 Balconies. Pets allowed for 2 cats or 2 small dogs or 1 large dog. Rental allowed after 1 year ownership. Maintenance fees including hot water heat and gas!

Just reduced from $485,000 to $469,000

For more photographs and information on this Kitsilano condo click this link

To view previous Kitsilano real estate updates click here.

For more information on these or any other Kitsilano properties contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

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. This represents a 31.7 per cent increase compared to the 3,097 sales recorded in February 2011, an increase of 30.1 per cent compared to the 3,137 sales in March 2010 and an 80.1 per cent increase from the 2,265 home sales in March 2009. The all-time sales record for March occurred in 2004 when 4,371 transactions were recorded.

“Our market has had a very strong start to the spring season,” Rosario Setticasi, REBGV president said. “With home sales above 4,000 and nearly 7,000 home listings added to the MLS® in March, it’s clear that home buyers and sellers view this as a good time to be active in their local housing market.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,797 in March 2011. This represents a 3 per cent decline compared to March 2010 when 7,004 properties were listed for sale on the MLS®, an all-time record for March. Compared to February 2011, last month’s new listings total registered a 19.4 per cent increase.

At, 13,110, the total number of residential property listings on the MLS® increased 9.9 per cent in March compared to last month and declined 3 per cent from this time last year.

“Conditions favour sellers at the moment, but we’re seeing differences in home-price trends and overall activity depending on the region and property type,” Setticasi said.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.4 per cent to $615,810 in March 2011 from $584,435 in March 2010.

Sales of detached properties on the MLS® in March 2011 reached 1,795, an increase of 34.4 per cent from the 1,336 detached sales recorded in March 2010, and a 100.1 per cent increase from the 897 units sold in March 2009. The benchmark price for detached properties increased 8.3 per cent from March 2010 to $866,806.

Sales of apartment properties reached 1,622 in March 2011, a 29.6 per cent increase compared to the 1,252 sales in March 2010, and an increase of 66.2 per cent compared to the 976 sales in March 2009. The benchmark price of an apartment property increased 2.1 per cent from March 2010 to $403,885.

Attached property sales in March 2011 totalled 663, a 20.8 per cent increase compared to the 549 sales in March 2010, and a 69.1 per cent increase from the 392 attached properties sold in March 2009. The benchmark price of an attached unit increased 3.6 per cent between March 2010 and 2011 to $511,039.

508-1888 YORK AVE

The YORKVILLE. It's all about location. In the heart of Kitsilano, walk to Kit's beach, Granville Island, great restaurants and shopping on 4th. Or entertain at home in this west-facing 2-Bedroom/2-Bath Home which boasts a beautifully designed open kitchen and great room. Other features include oak hardwood flooring throughout, ensuite bath with separate shower stall, ample insuite storage and covered balcony perfect for that morning cup of coffee or to enjoy the sunset - every day of the year!

Just reduced from $635,000 to $625,000

For more photographs and information on this Kitsilano condo click this link

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Kits Point two level townhouse. Live the dream north of Cornwall; best location in Kits; this rarely available South West facing townhouse has everything you're looking for including: Extra large renovated kitchen w/ skylight featuring Silestone countertops, gas cooktop and top of the line GE appliances. Open living/dining plan w/ vaulted ceilings, gas fireplace, balcony. Almost 700 sq ft. of outdoor space with a private rooftop deck plus your own fenced in garden patio facing beautiful, tree-lined Walnut St. Two minute walk to Kits beach, and steps to Granville island.

Asking Price of $875,000

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202-3638 BROADWAY W

Well known building at the most convenient location. Very quiet & private inside unit. Sunny south facing living room & bedrooms, functional & efficient layout, huge 300 sf deck w/tree fence, enjoy private sunshine or BBQ...Well maintained, full rainscreen protection in 2005, & a great well run building. Just steps to restaurant, shops, parks, beaches, & schools. Closer to UBC & Lord Byng High than other Kitslano condo.

Just reduced from $519,000 to $509,000

For more information on this property click this link

308-2330 MAPLE ST

Bright, top floor one bedroom in the heart of Kitsilano. Sunny south facing unit features updated appliances & laminate floors. Open floor plan with lots of closet space & large balcony for BBQ lovers. Secure parking and storage. Great investment; pets & rentals welcome. Building is worry free w/ mechanical updates. Terrific Location steps to the beach, 4th Ave or Broadway, shopping, cafes and transit.

Just reduced from $299,000 to $288,000

For more information on this Kitsilano condo click this link

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Just steps from Kits Beach, this charming two bdrm unit in The Charleston can be yours today! Walk to downtown, 4th Ave shops and restaurants or enjoy the fireworks from the large rooftop deck in this charming, brick exterior bldg. This little gem boasts an efficient floorplan with open kitchen and large living area. Comes with 1 U/G parking and storage locker.

Asking Price of $439,000

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2 BED + DEN/2 BATH corner unit in the sought after Capers Building in the centre of Kits. Great floor-plan, cherry HARDWOOD floors throughout; DEN/SOLARIUM is perfect for a home office PLUS there is a generous sized south facing open balcony. This building was revolutionary in architectual design and innovation and earned an honorable mention in Lieutenant-Governor of BC Medals in Architecture Awards. Highlights are CONCRETE construction, built with RAINSCREEN wall system, use of RECYCLED materials, GEO-THERMALLY heated hot water as well as filtered drinking water throughout the building. PLUS the convenience fo this prime location. The building is managed well and has a very healthy contingency.

Asking Price of $569,000

For more photograph's and information on this Kitsilano condo click this link. To see more 2 bedroom Kitsilano condos for sale click here.

The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the 10-year average in both categories for January.

“There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). "We’re seeing strong sellers’ market conditions in areas like Richmond and the west side of Vancouver.”

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price of detached homes increased 22.6 per cent in Richmond and 12.2 per cent in Vancouver West. In comparison, detached home prices across the region increased 2.7 per cent over the same period.

“When you’re looking to buy or sell a home, it’s important to familiarize yourself with the wider trends in the market. It’s equally important to seek out knowledge of your local area so you understand current market conditions in your neighbourhood,” Moldowan said

Looking across the region, the REBGV reports that residential property sales in Greater Vancouver reached 1,819 on the MLS® in January 2011. This represents a 4.2 per cent decline compared to the 1,899 sales recorded in December 2010, a decrease of 5.4 per cent compared to the 1,923 sales in January 2010 and a 138.7 per cent increase from the 762 home sales in January 2009.

From a historical perspective, January’s 1,819 homes sales slightly surpassed the 1,790 home sale average recorded in the region over the last ten years.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,801 in January 2011. This represents a 6.7 per cent decrease compared to January 2010 when 5,147 properties were listed, and a 182 per cent increase compared to December 2010 when 1,699 homes were added to the MLS® in Greater Vancouver.

At 10,438, the total number of residential property listings on the MLS® increased 5.8 per cent in January compared to last month and increased 2.2 per cent from this time last year.

Sales of detached properties on the MLS® in January 2011 reached 793, an increase of 12.5 per cent from the 705 detached sales recorded in January 2010, and a 171.6 per cent increase from the 292 units sold in January 2009. The benchmark price for detached properties increased 2.7 per cent from January 2010 to $810,045.

Sales of apartment properties reached 713 in January 2011, a decline of 20.8 per cent compared to the 891 sales in January 2010, and an increase of 97.5 per cent compared to the 361 sales in January

207-2080 MAPLE ST

Great value and excellent location just minutes from the 4th avenue shopping District, Kits beach and Granville Island. This corner suite offers privacy and features high quality laminate flooring throughout, generous living quarters and a spacious wrap around balcony with views of the Vancouver Skyline. Pro-active strata recently replaced the roof and building has had plumbing upgrades and replaced the boiler recently. Huge common roof top patio with sweeping city and water views is a big bonus! 1 parking and 1 storage locker included. Sorry, no pets or rentals allowed.

Just reduced from $319,900 to $315,000

For more information on this Kitsilano condo click this link

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Rarely available loft in Kits! 2 level 1057 sq feet, 16 ft ceilings with floor to ceiling windows, grey stained maple hardwood floors, updated kitchen cabinets, stainless steel appliances, granite countertops in kitchen and bathrooms, new lighting fixtures & custom closets in the large walk-in closet. Also featuring a 450 sq.ft. private rooftop deck, south facing perfect for entertaining. Complete with in-suite storage and laundry, secured parking and bike room. Rentals and pets are allowed.

Asking Price of $638,000

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A TOUCH OF CLASS IN KITS! BEAUTIFULLY RENOVATED CORNER SUITE WITH LUSH PRIVATE SOUTH FACING PATIO. THE SUITE - feels like a home. Generous entry hall, corner living room, separate eating area, huge bedroom, tastefully updated kitchen and bathroom, 'real' hardwood floors. Impeccably maintained throughout. Approx 220 sq ft patio garden surrounded by greenery. THE BUILDING - MAPLE MANOR - all owner occupied, solid older building with newer plumbing and brand new roof. In a very peaceful setting yet just steps to all the action on 4th and 5 mins to the beach. Individual storage locker directly across the hall. Parking stall owned by suite (part of strata lot).

Asking Price of $399,900

For more information on this Kitsilano condo click this link. To see more 1 bedroom Kitsilano condos for sale click here.

501-1888 YORK AVE

Sought after one bdrm 01 plan in the Yorkville North that is bright south facing with a massive 22' long sun drench balcony. This extremely efficient floor plan with no wasted space gives you plenty of living space for its square footageCome quickly with Kits Beach, Granville Island & 5th Ave Cinemas close this home whether a weekend get away or your first can't get any better. Fast possession possible, take advantage of cheap preapporoved financing.INTEIRIOR SPACE IS 570 SF as per the strata plan, other is 150sf, 22'00" x 6'8" balconey included in the 719 sqf.

Just reduced from $364,900 to $359,900

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310-2125 2ND AVE W

Heart of Kits. 2-Bedroom/2-Bath, 1,013 Square Feet.Newly renovated kitchen - all new appliances, cupboards granite countertops and tile backsplash, bathrooms - new granite counter tops designer sinks and faucets, dual flush toilets. Oak hardwood floors beautiufully refinished. Freshly painted. Must be seen. Plus watch fireworks from large common roof top deck. Pet friendly, 1 parking and storage locker. Bright corner suite with large balcony. Rentals at max of 6.

Just reduced from $599,000 to $585,000

For more information on this Kitsilano condo click this link

2438 WEST 8TH AVE

"Designed with you in mind" This Brand new 3 bedroom Townhome on 1 Level is absolutely Exquisite! Bright Spacious Open Flexible Floor Plan,2.5 Baths with Gorgeous contemporary cabinets throughout. Huge open kitchen with loads of counter space, storage, Professional Viking Gas Range, beautiful finishing. Featuring a Master Bathroom with large glass tile shower with rain head, body sprays and hand shower, double sinks and much more. Cat5 and Network wiring throughout, stunning glass fireplace set radiant in floor heating with each unit having its own independent Efficiency heating and water system therefore avoiding high monthly strata fee. the exterior of the home was designed with low yearly maintenance in mind.HST incl.

Just reduced from $1,299,800 to $1,999,900

For more information on this Kitsilano townhome click this link

To view previous Kitsilano real estate updates click here.

For more information on these or any other Kitsilano properties contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

SOLID CONCRETE BUILDING IN KITS! The Balsam House is one of Kitsilano's most exclusive buildings. Located North of 4th Avenue on Balsam and 1st, 2 blocks from Kits Beach. You will love this location and all it has to offer. This spacious 967 SqFt, 2-Bedroom/2-Bath + Den offers 10' high ceilings, granite counters, gas cooktop & fireplace. Large master suite with jacuzzi tub and walk-in closet. Huge private outdoor patio great for BBQs & garden lovers. You will be impressed! One parking & storage. Gas & hotwater included in Maintenance Fee.

Asking Price of $649,000

For more information on this Kitsilano condo click this link. To see more 2 bedroom Kitsilano condos for sale click here.

207 -2080 MAPLE  ST

Great value and excellent location just minutes from the 4th avenue shopping District, Kits beach and Granville Island. This corner suite offers privacy and features high quality laminate flooring throughout, generous living quarters and a spacious wrap around balcony with views of the Vancouver Skyline. Pro-active strata recently replaced the roof and building has had plumbing upgrades and replaced the boiler recently. Huge common roof top patio with sweeping city and water views is a big bonus! 1 parking and 1 storage locker included. Sorry, no pets or rentals allowed.

Just reduced from $324,900 to $319,900

For more information on this Kitsilano condo click this link

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Professionally redesigned top to bottom, this multi-level SW facing corner unit is sure to impress. LED illuminated stairways, kitchen floor and bathroom vanities marry urban-chic features throughout to create a unique sophisticated vibe. Other great features include a gourmet kitchen with professional stainless, gas cooktop, and designer backsplash. Custom gas F/P with concrete mantle, 2 in 1 washer/dryer and three private patios with views of English Bay. Pets, rentals and barbecues allowed, low monthly maintenance fee, fully rainscreened exterior, ultra wide parking stall, storage locker, and "hand carved" walnut flooring throughout all in a fantastic part of town. A must see!

Asking Price of $595,000

For more information on this Kitsilano condo click this link. To see more 2 bedroom Kitsilano condos for sale click here.

403-2929 4TH AVE W

TOP FLOOR, 2 bdrm/2 bath w/den/office plus large solarium in 'The Madison' on 4th. Heart of Kits- walking distance to beach, shops, restaurants & on bus route to UBC! Master w/ensuite will accommodate King bed. Open plan kitchen, charming gas fireplace with mantle in large living space, & light hardwood flrs throughout. Insuite laundry, bike storage & 1 parking all in well maintained building. Investors: Pets/rentals & quick possession OK!

Just reduced from $519,000 to $509,000

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313-1990 6TH AVE W

What a unique place this is! Located in a quiet neighbourhood of Kitsilano right across from community gardens. This TWO LEVEL condo has a recently renovated bathroom, hardwood flooring, crown moldings, fresh paint, and insuite laundry. Enjoy your own private access to the rooftop deck that offers ocean, city & Mountain views. Walk to the shops and restaurants on W 4th, Kits Beach and Granville Island. 1 parking space included!

Just reduced from $389,000 to $369,900

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303-2545 BROADWAY W

Beautifully kept 2 bedroom and 2 bath Kitsilano condo corner unit at the Trafalgar Mews. Centrally located in the heart of Kitsilano and is steps to shops and restaurants like Lumiere. Spacious open plan with an enclosed 7' x 5' balcony which is not included in the strata plan square footage. Well maintained, rain-screened building. Includes 1 parking and 1 storage locker.

Just reduced from $498,000 to $489,000

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211-2450 CORNWALL AVE

Beautiful 1 bedroom VIEW unit at KITSILANO BEACH. This North facing unit has a spacious living room, master bedroom & lots of bright sunlight. This trouble free & well managed building has a bike room & sauna. Minutes to Downtown Vancouver, UBC, walking distance to the beaches, tennis courts, restaurants, cafes, shops & the swimming pool. Come enjoy the Kits lifestyle. So close to Kits Beach, its almost Waterfront!

Just reduced from $316,000 to $305,000

For more information on this Kitsilano condo click this link

2416 8TH AVE W

3 bdrms up, south-facing yard & patios, 1 car garage. Brand new, HST included, 'Built Green' GOLD ENERGY GUIDE RATING of 80, Rainscreened, 2x6 construction, high-efficiency heat & water system. 2/5/10-Year Warranty. 30-year roof. Hardwood floors from sustainably managed forests, radiant heat, high ceilings, stainless steel Fisher & Raykal fridge and gas range, dual-flush toilets. Many products used were manufactured within a 800-km radius. Built by local European builder with Pride. Common Utility /Storage room & 2 piece bath shared by the 3 Owners.

Just reduced from $1,319,000 to $1,289,000

For more information on this property click this link

 2412 8TH AVE W

3 bedrooms, 3 baths, one level living with south-facing sundeck, 9' ceilings. Brand new, HST included, "Built Green" GOLD ENERGY GUIDE RATING OF 80, Rainscreened, 2x6 construction, high efficiency heat & water system. 2-5-10 warranty. 30 yr roof. Hardwood floors from sustainably managed forests, radiant heat, high ceilings, stainless steel Fisher & Raykal fridge & gas range, dual flush toilets. Many products used were manufactured within a 800 km radius. Built by local Euroopean builder with Pride. Common Utility /Storage room & 2 piece bath shared by the 3 Owners.

Just reduced from $1,189,000 to $1,099,000

For more information on this property click this link

2418 8TH AVE W

2 Bdrms up, south-facing, 5 patios/deck, 1 car garage. Brand new, HST included, 'Built Green' GOLD ENERGY GUIDE RATING OF 80, rainscreened, 2x6 construction, high-efficiency heat & water system. 2/5/10-Year Warranty. 30-year roof. Hardwood floors from sustainably managed forests, radiant heat, high ceilings, stainless steel Fisher & Raykal fridge and gas range, dual-flush toilets. Many products used were manufactured within a 800-km radius. Built by local European builder with Pride. Common Utility /Storage room & 2 piece bath shared by the 3 Owners.

Just reduced from $1,029,000 to $998,000

For more information on this property click this link

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Welcome to the CARNEGIE! A 7-storey concrete midrise building located in the GATEWAY to KITSILANO. This beautiful NE corner unit has a breathtaking CITY, MOUNTAIN & WATER VIEW, a tot, renovated kitchen, 2 balconies, new flooring & newly decorated throughout. This 2 bedroom, 2 bathroom unit has a superb & efficient layout & is located on the penthouse level. Conveniently located; walking distance to West 4th Avenue shops & Kits Beach. Call today for your private viewing, a real pleasure to show.

Asking Price of $569,000

For more information on this Kitsilano condo click this link. To see more 2 bedroom Kitsilano condos for sale click here.

For more information on these or any other Kitsilano properties contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

2506 8TH AVE W

Luxury 2 bedroom, 3 bath townhouse on a beautiful corner lot in the heart of Kitsilano. Quality finishing with cherry wood cabinets, granite counters & stainless steel appliances in the kitchen, crown mouldings, gas fireplace, hardwood floors & central sound system. There are 3 decks & a one car garage with additional storage. This Building is virtually a smart home, equipped & wired as an Intranet Network, automated irrigation system & security system. If you need more space, there is a common self contained 424sqft suite that can be rented. Conveniently located close to great restaurants, shopping, community centre & schools.

Just reduced from $1,188,000 to $1,099,000

For more information on this Kitsilano condo click this link. To view previous Kitsilano real estate updates click here.

Sophisticated & stylish, quiet & bright end-unit T/H in a very central location in Kitsilano! 1324 sf of contemp. elegance with 2 bdr & Den (3rd bdr) each with ensuite! Gourmet kitchen with s/s appls, gas stove, ample granite countertops & cabinet space. South facing patio off kitchen for your outdoor entertaining. Open concept Main with Great Room design: high ceilings, Gas f/p, hardwood floors, Powder Room. Master suite with W/I Closet & spa-inspired bath with soaker tub & separate shower. Spacious 2nd bdr with full bath. Lower walk-out level Den with full bath & sliding door to private patio. Large insuite storage. 2 stalls, direct suite access from garage! Built in 2006 w/warranty. 2 pets (max 35 kg) & Rentals allowed.

 Asking Price of $968,000

For more information on this Kitsilano townhouse click this link. To see more Kitsilano townhouses for sale click here.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2010 reached 30,595, a 14.2 per cent decrease from the 35,669 sales recorded in 2009, but a 24.2 per cent increase from the 24,626 residential sales in 2008. Last year’s number of housing sales was 10.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 9.7 per cent in 2010 to 58,009 compared to the 52,869 properties listed in 2009. Compared to 2008, last year’s total represents a 7.3 per cent decline compared to the 62,561 residential properties listed in 2008. The number of properties added to the MLS® peaked in April and generally declined for the remainder of the year.

“The last two years have been a bit of a rollercoaster for the real estate market. However, sales over the past six months have definitely shown a trend toward stability. We think that’s good news for home buyers and sellers,” Jake Moldowan, REBGV president said. “The Greater Vancouver housing market experienced a modest increase in home prices in 2010, and a continual decrease in the number of properties being listed for sale.”

Residential property sales in Greater Vancouver totalled 1,899 in December 2010, a decrease of 24.5 per cent from the 2,515 sales recorded in December 2009—an all time record for the month—and a 24.3 per cent decline compared to November 2010 when 2,509 home sales occurred. 

More broadly, last month’s residential sales represent a 105.5 per cent increase over the 924 residential sales in December 2008, a 0.1 per cent increase compared to December 2007’s 1,897 sales, and a 12.6 per cent increase compared to the 1,686 sales in December 2006.

The residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 2.7 per cent to $577,808 between Decembers 2009 and 2010. However, prices have decreased 2.6 per cent since hitting a peak of $593,419 in April 2010.

“Although we saw some pressure on home prices throughout the year, home values in 2010 remained relatively steady in the region compared to the last few years when we witnessed much more fluctuation,” Moldowan said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,699 in December 2010. This represents a 21.1 per cent decline compared to the 2,153 units listed in December 2009 and a 43.9 per cent decline compared to November 2010 when 3,030 properties were listed.

Sales of detached properties in December 2010 reached 769, a decrease of 14.8 per cent from the 902 detached sales recorded in December 2009, and a 121.1 per cent increase from the 348 units sold in December 2008. The benchmark price for detached properties increased 4.0 per cent from December 2009 to $797,868.

Sales of apartment properties reached 811 in December 2010, a decline of 29.7 per cent compared to the 1,154 sales in December 2009, and an increase of 94.5 per cent compared to the 417 sales in December 2008.The benchmark price of an apartment property increased 1.2 per cent from December 2009 to $387,115.

Attached property sales in December 2010 totalled 319, a decline of 30.5 per cent compared to the 459 sales in December 2009, and a 100.6 per cent increase from the 159 attached properties sold in December 2008. The benchmark price of an attached unit increased 2.7 per cent between December 2009 and 2010 to $490,869.

One of the nicest suites conveniently located in one of Kit's most desirable neighborhoods. Top floor home located on the quiet side. Building facing South. Lots of sunshine & light. Large balcony-a generous 250 sq. ft. This is a great open floor plan featuring a contemporary kitchen w/ granite counters, premium stainless steel appliances, solid maple shaker style cabinetry, & a gorgeous Montigo gas F/P w/ granite surround. Engineered maple H/W floors throughout living & dining rooms. "Trafalgar Square" built w/ rainscreen tech. Comes w/ a 2-5-10 Year Warranty plus the best located parking stall in the complex & private storage room. Easy access to transit & close to all amenities & outdoor activities.

 Asking Price of $475,000

For more information on this Kitsilano condo click this link. To see more 2 bedroom Kitsilano condos for sale click here.

Residential market values increased 13.03 per cent in West Vancouver, 12.17 per cent in Vancouver, 12.07 per cent in Burnaby, 9.22 per cent in Delta, 9.12 per cent in Coquitlam, 9.11 per cent in New Westminster, 8.84 per cent in North Vancouver District, 7.58 per cent in Surrey, and 6.55 per cent in Langley township.

A rise in a property's assessment does not always mean municipal taxes will increase. What typically makes the difference is if an assessment rises or falls beyond the average.

The Canada Line rapid transit route between Richmond and downtown Vancouver and Richmond's continuing popularity with buyers from Asia were factors in that community's substantial increase, suggested Re/ Max Westcoast realtor Anne Marie Kirkpatrick, a lifelong Richmond resident.

"That has made some difference -- the transportation," Kirkpatrick said in a phone interview.

"It seems that there is a lot of mainland China buyers and a lot of immigration from Asia, and Richmond seems to be one of their favourite spots. Other than that, it's great place to live. It's close to Vancouver, and the airport is here."

Kirkpatrick said she noticed a jump in demand for property that coincided with the opening of the Canada Line, known during construction as the Richmond-Airport-Vancouver (RAV) line.

Lower-priced "investment"-type condos in the Lansdowne mall area "were normally lower than similar condos more over in the Brighouse-Richmond Centre area. As soon as that line came in they increased [in price] instantly and it became the hot area.

Owners of the 1.9 million properties in B.C. can check online for the latest figures. Notices with expanded information were given to Canada Post on Dec. 31 and will be arriving in the mail this week.

Online users can go to www.bcassessment.bc.caand click on "e-valueBC" under "For Public" to see the new figure for their own and neighbouring properties. BC Assessment's web-site will also show the value of sales for the surrounding area in 2010.

For most properties, BC Assessment shows the assessed value as of July 1 of the previous year. Their actual value depends on the market at a particular time.

BC Assessment appraisers take into account criteria such as size, age, quality, condition and location of individual properties.

This year's deadline to appeal assessments is Jan. 31. BC Assessment encourages those who disagree with assessments to call or visit their office to try to resolve the matter.

The Crown corporation's office was closed Monday and reopens today.

While individual property values are online, further details on regional and provincial statistics and graphs will be coming out today. That information will include the total value of the provincial assessment roll, year-over-year changes in assessment values in municipalities and new construction.

Provincially, the assessment roll reached $969 billion in January 2010.

Read more: http://www.vancouversun.com/entertainment/Metro+property+values+surge+dramatically/4055540/story.html#ixzz1A6FCLz3p

Bridgewater by Bosa. Bright and functional south facing 2 bed 2 bath in Kitsilano. This corner half level up townhome style condo has private entrance on West 4th Ave. Upgraded Hunter Douglas top down blinds provide great outlook and privacy and lots of sunlight. Gas fireplace, large windows, insuite storage and a great balcony. Close to cafe, restaurants, parks, beach and UBC.

Asking Price of $479,000

For more information on this Kitsilano condo click this link. To see more 2 bedroom Kitsilano condos for sale click here.

Spacious 1-Bedroom + Den at the 'DELANO' in the heart of Kitsilano! Large windows, gas fireplace, 7 appliances, huge outdoor patio. Building has new rainscreen with warranty. Enjoy the Kits lifestyle at an affordable price! Spacious and functional open floor plan with sunny 200 SqFt patio that leads out to a private yard & garden area, prefect for summer barbeques and pets. Special features include beautiful laminate flooring, oversized soaker tub in bath, cozy forced air gas fireplace and an extra large parking space. Great amenities including a fully equipped gym & an indoor/outdoor hot-tub. A perfect location, close to transportation, shopping, restaurants & the beach.

Asking Price of $379,000

For more information on this Kitsilano condo click this link. To see more 1 bedroom Kitsilano condos for sale click here.

The 'I' 7 stories concrete condo built by award winning 'Adera" in Arbutus Walk'. this south facing 2 bedroom + den come with real hardwood floors throughout, stainless steel appliances, granite counters. Beautiful southern tree,greenspace park view. Very quiet but very close to shopping and public transit 2 blocks to Kitsilano High. Very impressive!

Asking Price of $720,000

For more information on this Kitsilano condo click this link. To see more 2 bedroom Kitsilano condos for sale click here.

Dean Wegman and Kitsilano-Condo.com wish you a Happy New Year in 2011! Stay tuned for another year of Kitsilano real estate updates and information on neighbourhood trends, sales, and price reductions.

Sincerely,

101-1990 DUNBAR ST

"The Breeze @ Jericho'. Kitsilano W-facing condo with a great townhouse entrance. 2 bedroom with den/storage, 2 bathrooms and large patio for all those barbecues. Large spacious kitchen with stainless steel/black 'Frigidaire' appliances. Master bedroom has 12' of closet space. Pro-active strata, no rental or pet restrictions. Close to shops, restaurants, Kits Lifestyle!

Just reduced from $524,900 to $518,000

For more information on this Kitsilano condo click this link. To view previous Kitsilano real estate updates click here.

Dean Wegman and Kitsilano-Condo.com wish you a very Merry Christmas and a Happy New Year! Stay tuned for another year of Kitsilano real estate updates and information on neighbourhood trends, sales, and price reductions.

Sincerely,

For more information on these or any other Kitsilano properties contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

There are no price reduced Kitsilano condos or townhomes for December 20th, 2010.

To view previous Kitsilano real estate updates click this link.

There are no price reduced Kitsilano condos or townhomes for December 17th, 2010.

To view previous Kitsilano real estate updates click this link.

Great value in this bright elegant contemporary townhome in Kitsilano 

1956 W 5TH AV

Sophisticated & stylish, quiet & bright end unit T/H in an unbeatable location in Kitsilano! 1324 sf of contemp. elegance with 2 bdr & Den (3rd bdr) each with ensuite! Gourmet kitchen with s/s appls, gas stove, ample granite countertops & cabinet space. South facing patio off kitchen for your outdoor entertaining. Open concept Main with Great Room design: high ceilings, Gas f/p, hardwood floors, Powder Room. Master suite with W/I Closet & spa-inspired bath with soaker tub & sep. shower. Spacious 2nd bdr with full bath. Lower walk-out level Den with full bath & sliding door to private patio. Large insuite storage. 2 stalls, direct suite access from garage! Built in 2006, warranty. 2 pets, rental OK.

Asking Price of $968,000

For more information on this Kitsilano townhome click this link

There are no price reduced Kitsilano condos or townhomes for December 16th, 2010.

To view previous Kitsilano real estate updates click this link.

420-2288 BROADWAY W

Excellent opportunity to buy at THE VINE, centrally located in Kitsilano with good access to shopping, transportation and recreation facilities. This North East facing end unit enjoys views of the North Shore Mountains and the building has a great landscaped terrace for building owners. London Drugs and the IGA are just an elevator ride away. Interior features include engineered hardwood floors throughout, wood cabinets, granite countertops, custom built-ins and a great floor plan.

Just reduced from $635,000 to $609,900

For more information on this Kitsilano condo click this link. 

To view previous Kitsilano real estate updates click this link.

There are no price reduced Kitsilano condos or townhomes for December 14th, 2010.

To see previous days of price reduced properties click here.

For more information on these properties click this link here or contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

205-2125 YORK AVE

Location is Amazing, Building is sound, Suite is Ready to Enjoy! Come take a look at this charming 1 bedroom plus den Kitsilano condo just steps to the beach. Kits Beach, 4th Ave shops and restaurants, Granville Island - everything is right here. PETS ARE WELCOME, FREE LAUNDRY, NEW ROOF, UPDATED COMMON AREAS, SUITE FRESHLY PAINTED. Call for an appointment or come to the Open Sat & Sun Nov 20 & 21 2-4 pm.

Just reduced from $309,000 to $297,000

For more information on this property click this link

There are no price reduced condos or townhomes in Kitsilano for December 10th, 2010.

To see previous days of price reduced properties click here.

209-2983 4TH AVE W

Open concept 1 BD + den at The Delano! This quiet and spacious suite in the heart of Kitsilano comes with a large kitchen, new laminate floors, insuite laundry, a large den/storage area, gas fireplace and a spacious covered balcony on the quiet side of the building. The bedroom includes a large corner walk-in closet as well as convenient bathroom access. Fully rainscreened with full gym and indoor/outdoor hot tub. Enjoy living next to the yoga, shopping, dining and nightlife of 4th Ave without the noise. Close to the beach and transit to UBC & Downtown. Quick possession. Easy to show.

Just reduced from $369,000 to $367,000

For more information on this property click this link

106-3083 4TH AVE W

Spacious 1-Bedroom + Den at the 'DELANO' in the heart of Kitsilano! Large windows, gas fireplace, 7 appliances, huge outdoor patio. Building has new rainscreen with warranty. Enjoy the Kits lifestyle at an affordable price! Spacious and functional open floor plan with sunny 200 SqFt patio that leads out to a private yard & garden area, prefect for summer barbeques and pets. Special features include beautiful laminate flooring, oversized soaker tub in bath, cozy forced air gas fireplace and an extra large parking space. Great amenities including a fully equipped gym & an indoor/outdoor hot-tub. A perfect location, close to transportation, shopping, restaurants & the beach.

Just reduced from $385,900 to $379,000

For more information on this property click this link

There are no price reduced condos or townhomes in Kitsilano for December 8th, 2010.

To see previous days of price reduced properties click here.

There are no price reduced condos or townhomes in Kitsilano for December 7th, 2010.

To see previous days of price reduced properties click here.

For more information on these properties contact Dean here.

 Legend

LP = list price

SP = sale price

CDOM = days on market

BR = # of bedrooms

BTH = # of bahtrooms

SqFt = square feet

LKR = locker

PKG = # of parking spots

* Statistics taken from REBGV

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,509 in November 2010. This represents a 7.4 per cent increase compared to October 2010 and an 18.6 per cent decline from the 3,083 sales in November 2009.

Looking back further, last month’s residential sales represent a 187.1 per cent increase over the 874 residential sales in November 2008, a 13 per cent decline compared to November 2007’s 2,883 sales, and a 6.4 per cent increase compared to the 2,358 sales in November 2006.

“Housing sales numbers were fairly typical for a November and indicate a fairly balanced market. Activity on the buyer side has been stable, with slight increases, over the last few months while the number of homes listed for sale in our region has declined each month since we reached a peak in June,” Jake Moldowan, REBGV president said.

Total active residential property listings in Greater Vancouver currently sit at 12,384, a 12.1 per cent decline from last month and a 12 per cent increase from November 2009. New listings for detached, attached and apartment properties declined 17.1 per cent to 3,030 in November 2010 compared to November 2009 when 3,653 new units were listed.

“Home values have been relatively stable over the last five months compared to the summer period when we were seeing some downward pressure on prices,” Moldowan said. “It’s the homes priced accurately for today’s market that are receiving a lot of attention and selling right now.”

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 4.1 per cent to $580,080 in November 2010 from $557,384 in November 2009. This price has remained virtually unchanged since June of this year.

Sales of detached properties on the MLS® in November 2010 reached 1,050, a decrease of 9.8 per cent from the 1,164 detached sales recorded in November 2009, and a 226.1 per cent increase from the 322 units sold in November 2008. The benchmark price for detached properties increased 5.6 per cent from November 2009 to $799,312.

Sales of apartment properties reached 1,052 in November 2010, a decline of 24.6 per cent compared to the 1,396 sales in November 2009, and an increase of 156.6 per cent compared to the 410 sales in November 2008.The benchmark price of an apartment property increased 1.9 per cent from November 2009 to $389,168.

Attached property sales in November 2010 totalled 407, a decline of 22.2 per cent compared to the 523 sales in November 2009, and a 186.6 per cent increase from the 142 attached properties sold in November 2008. The benchmark price of an attached unit increased 4.1 per cent between November 2009 and 2010 to $488,733.

There are no price reduced condos or townhomes in Kitsilano for December 6th, 2010.

To see previous days of price reduced properties click here.

1992 MCNICOLL AVE

KITSILANO POINT Garden unit in character triplex development. Don't miss this rare opportunity to own a COMPLETELY RENOVATED 1380 sf 3 bdrm home in Vancouver's best beach-side location. This home was completely renovated from top to bottom 2003 w/new Lonetree Kitchen, bath, flooring, etc. Enjoy water & park views from your kitchen & private north patio oasis. Additional east facing patio for morning coffee. This original 1925 Craftsman home was strata titled into 3 units in 1984. Heritage granite pillars & lots of fir wood finishings thru out this beautiful home. Live in the home & enjoy Vancouver's best lifestyle next to beach, 1 min walk to beach, 3 min walk to Kits Pool & 10 min to downtown! Practical pluses incl onsite prkg

Just reduced from $929,000 to $888,000

For more information on this property click this link

316-2565 BROADWAY W

Welcome to Trafalgar Mews, right in the heart of Kits. This 2 bed, 2 full bath, 791 sq ft townhouse features a main floor with open kitchen, dining and living room complete with hardwood floors and a full bathroom. Upstairs you'll findtwo bedrooms at opposite ends, Juliet balcony off the second bedroom and a bigger balcony off the master with gorgeous views of the North Shore Mountains. One parking and large storage locker and being close to all the great shops and restaurants make this a perfect place to call home.

Just reduced from $479,000 to $459,000

For more information on this property click this link

309-1867 3RD AVE W

Concrete low rise condo in Kits. Bright SE facing corner unit. 723 SF 1 BD+DEN suite with sunny balcony. 1 car parking (#21) & 1 locker (#7) included. Close to beach & shops on 4th Ave & Granville Island. Also, walking distance to Downtown offices.

Just reduced from $380,000 to $371,000

For more information on this property click this link

There are no price reduced condos or townhomes in Kitsilano for November 26th, 2010.

To see previous days of price reduced properties click here.  

7-3495 4TH AVE W

Looking for a 2bdrm 2 level townhome N of 4th for under a mil? Well, for $439,900 you can have this corner of paradise. Yes, a corner suite, on the quiet side facing west for glorious light & north for a view of the mountains through a mass of forest-like trees. Remodeled...many sparkling designer upgrades, especially to the kitchen (very nice) & bathroom - wow! You'll love the dark chocolate hwd floors (almost edible), the 456 sf attic/'anything' space, the generous sunny balcony & more. You'll like the community amenities-park, tennis, beaches, buses, groceries, restaurants, liquor store, barber...you get the picture; all to improve life for yourself & friends - who will want to come & visit - your pet!

Just reduced from $459,000 to $439,000

For more information on this property click this link

There are no price reduced condos or townhomes in Kitsilano for November 24th, 2010.

To see previous days of price reduced properties click here.  

There are no price reduced condos or townhomes in Kitsilano for November 23rd, 2010.

To see previous days of price reduced properties click here.  

 There were no sales of condominiums or townhomes in Kitsilano over past week.

For information on any past sales contact us here.

307-2020 8TH AVE W

Beautiful north-facing 2-Bedroom/2-Bathroom, Third Floor Unit. Central quiet location one block off Broadway. Easy walking distance to schools, public transit and shopping. Quiet tree-lined street. Suite features gas fireplace, insuite laundry, new paint and new carpets throughout.

Just reduced from $479,900 to $459,000

For more information on this property click this link

406-1680 4TH AVE W

Welcome to MANTRA built by Cressey. This boutique 5 level solid concrete & glass bldg Incl geothermal heating & A/C.It is backed by a 2-10-10 warranty. It has an unbeatable location that is steps to Granvilla island, South Granville, Kits Beach & transportation. This 2 Bdrm suite is a bright corner unit that features a walk in closet with built ins, a high and S/S appliance package that includes a gas cooktop, wall oven, tall tub D/W, slim slide-out hoodfan, microwave, 32" fridge, wine cooler & washer & dryer. Superb finishings, quality throughout a State of the Art Fitness Ctr. Ready to move in & easy to show.

Just reduced from $649,900 to $619,000

For more information on this property click this link

1809 GREER AVE

KITS POINT. The premier location for this tastefully updated 3 bedroom, 2.5 bath townhouse in an intimate 5 unit complex. Gorgeous gourmet kitchen with granite counters & hi-end appliances including sub-zero fridge, 2-drawer FisherPaykel dishwasher, beverage centre and wine fridge. This quiet end unit also features updated bathrooms, hardwood floors, cozy wood burning fireplace with stone surround and a south facing deck off the living area. The package is complete with a bonus third level den area that leads to a large roof top deck with views. The building is well maintained with reasonable maintenance fees and the suite comes with 2 parking and a huge storage locker.

Just reduced from $1,125,000 to $1,098,000

For more information on this property click this link

318-2175 3RD AVE W

Panoramic views of English Bay, Stanley Park, Mountains & downtown. Top floor corner suite w/vaulted ceilings, gas fireplace, maple floors, lots of light, 8x8' balcony, new kitchen & appliances, king size master & large new closet, new bathroom vanity & ceramic tiles w/large tub for two & new washer & dryer. A very special two level suite w/it's own entrance. Everything is done just move in & enjoy the views from your living room sofa. Walk to Kits pool, beach, tennis & one block to all the best of Kits dining & shopping.

Just reduced from $445,000 to $435,000

For more information on this property click this link

2-1950 5TH AVE W

Wow! Your own private rooftop deck to entertain, barbeque or just relax with 360 degree views of water, mountains, city! This is over & above this fabulous 4 year old townhouse situated in private courtyard in trendy Kitsilano and central to everything. 1,368 sqft. 2 underground parking, 1 locker with 2 bdrms, office/computer area, & media/den area. The main floor has a terrific gourmet kit area complete with large island with seating for 4. Stainless steel appliances, gorgeous granite countertops, 60 bottle wine fridge, gas stove & high ceilings compliment the open plan of the dining & living areas with a cozy gas fireplace, giving flexible space that is great for entertaining.

Just reduced from $1,049,000 to $999,500

For more information on this property click this link

There are no price reduced condos or townhomes in Kitsilano for November 17th 2010.

To see previous days of price reduced properties click here.  

5-year yields closed up huge on Monday and discounted fixed rates should follow if yields don’t drop soon. A few non-bank lenders have already announced fixed-rate increases, effective today.

Regardless of your position on the fixed vs. variable debate, it can’t be overstressed how low fixed rates are right now. At 3.39% for a 30-day close, 5-year fixed mortgages are a whopping 166 basis points below the 10-year average of deep-discount rates (which we’ve based on a 160 bps discount off posted rates for discussion purposes). Locking in at 3.39% is like winning a small lottery, historically speaking.

So if you need a fixed rate for a new mortgage closing in the next 180 days, be prepared to act—especially if yields continue higher.

________________________________________

Disclaimer: As always, only higher powers from above can predict interest rates. It’s always possible that yields could tumble back down. On the other hand, mortgages are a probability game and most would argue that rate risk is biased over 50% to the upside.

Information provided by - Ivan Sobko AMP DULE  Riverside Mortgage Group Inc -  For more Interest rate updates visit www.sobko.ca

203-2287 3RD AVE W

Northeast corner suite featuring laminate flooring, large bedroom with bay window seat, updated bathroom, wood burning fireplace, insuite laundry, good closet space, large balcony, secured parking and a storage locker. Great fully rainscreened building with only 10 suites. Situated in the heart of Kitsilano and north of 4^th .

Just reduced from $334,900 to $329,900

For more information on this property click this link

For more information on these properties contact us here.

LP = List Price

SP = Sale Price

CDOM = Days on Market

Lkr = Locker

Pkg = # Parking Spaces

* all stats taken from REBGV

1858 1ST AVE W

Set within a Victorian fronted terrace, this is the exclusive Yorkville Mews. this stylishly sleek 2 level, 2 bdrm & open den town home is boasting an abundant living space, w/b fireplace, Juliette balconies to the North, open plan, and a massive 125 sq.ft, private roof deck facing south make this a very sought after home. An ideal location steps to the Beach, fashionable shops and some of Vancouver's premier restaurants and up market grocers. An absolute pleasure to show.

Just reduced from $709,000 to $689,000

For more information on this property click this link

2574 VINE ST

True Classic. European feel row housing, but in Kits. Over 2800 sf of real space. High ceilings on 3 levels, plus a bsmt.(media room & storage) 2 car private garage. Brazilian cherry H/W flrs, gorgeous open kitch. High ceilings thru. Designed by Formwerks, dev't by Pantheon Construction...so you know this is a GOOD product. Rare in size, and Urban in setting. This is truly a lovely home. Size is larger than most single family residence. In-floor radiant heating, decorative ironwork, loads of built-ins, and to top it off, this place LOOKs good too. This was the builders unit. This size and design is truly irreplaceable for Kits. Show this gem, call for that appt., and let's make it happen.

Just reduced from $1,790,000 to $1,740,000

For more information on this property click this link

103-2036 YORK AVE

Investors Alert! JUST CONFIRMED RENTALS ALLOWED. Great one bedroom suite in a beautiful Heritage conversion just steps to the beach and to all the shops and services of West 4th Avenue and minutes to downtown. This updated home features in-suite laundry, laminate floors, stainless steel appliances, new counter tops and lighting, extensive crown and baseboard mouldings and a built-in computer desk area. Enjoy the sunshine and views from the huge rooftop deck complete with patio furniture and BBQs. You'll love the intimacy and pride of ownership of this small boutique building in one of the best Kits locations.

Just reduced from $339,000 to $329,800

For more information on this property click this link

102-1725 BALSAM ST

Prime Kits location just minutes from the beach & shopping on 4th Ave. Garden level suite with large private patio, great for BBQs, pet owners & garden lovers. This well laid out suite offers 2 large BDRMs plus a light filled den. Features include overheight ceilings, crown mouldings, jacuzzi tub, gas range, fireplace & Granite counters. This solid concrete bldg has only 7 units! Rarely do they become available. Ultimate privacy in an Excellent location! Don't miss this one!

Just reduced from $710,000 to $699,000

For more information on this property click this link

There are no price reduced Kitsilano condo's or townhomes for November 9th.  To see previous days of price reduced homes click here.

For more information on this property contact us here.

LP = List Price

SP = Sale Price

CDOM = Days on Market

Lkr = Locker

Pkg = # Parking Spaces

* all stats taken from REBGV

305-2480 3RD AVE W

TOP FLOOR KITS - NORTH OF 4TH AVE It doesn't get much better than this for a perfect boutique bldg in Kits just a hop, skip and a jump to everything!! This rare rainscreened original, 1 bedroom (650 sq ft) is a top floor unit with skylights, separate dining, good size bdrm plus good storage. When you buy here your buying peace of mind, a solid, well run pet friendly building. Good size balcony for BBQ's plus a common roof deck with splendid view. Building updates include: new windows, decks, cedar siding, rainscreen with warranty 2007, roofs done and new boiler. A perfect starter or retirement spot!

Just reduced from $389,000 to $369,000

For more information on this property click this link

1817 14TH AVE W

Character style 4 plex with great street appeal in upper kits/lower shaughnessy located on a beautiful tree lines street. Minutes to downtown, UBC, Granville Island and trendy shops in Kits and South Granville. The main floor is open concept with hardwood floors, updated kitchen, large dining area, living room with wood burning F/P and powder room. Both bdrms have en-suites, one with a tub, the other has a brand new spa inspired walk-in shower with heated floor. Newer appliances and built in vac. Light and bright with large picture windows, a private south facing patio at the front door. One secured parking in a shared double garage, ample storage. The building has a new roof, long term ownership and has been well maintained.

Just reduced from $689,000 to $669,000

For more information on this property click this link

107-2175 SALAL DR

Owner says sell! Price reduced $34,000 New price $635,000Much sought after 2bd, 2bth corner ground level suite in the beautiful Savona on Arbutus walk. This beautiful home features 9ft ceilings, floor to ceiling windows, large principal rooms, open entertainment style kitchen with SS appliances and gas range, cozy gas fireplace new hardwood floor, new carpets and new screens on windows and doors. Private ground level patio with gated entrance gives this unit a townhouse feel. Excellent value in a solid building. Don't miss this one!

Just reduced from $669,000 to $635,000

For more information on this property click this link

201-2480 3RD AVE W

Well maintained building in desirable Kits location north of 4th. Generous size 1 bdrm south facing w/ wood burning F/P. Building updates include new double glazed windows, fully rainscreened in 2007 w/ warranty, new flat roof in 2004, sloped roof in 2010, new boiler in 2009. Kitchen updated w/ new cabinet doors & lighting. Wrap-around balcony for your BBQ. Gorgeous bdrm w/ large walk-in closet & generous insuite laundry room. This suite is steps to shopping on 4th Ave & 3 blocks to Kits Beach! Delightfully decorated.

Just reduced from $410,000 to $398,000

For more information on this property click this link

218-1990 6TH AVE W

Central Kitsilano location on the corner of 6th and Maple. Quiet and across the street from the Arbutus Community Gardens. This bright, 1 bdrm + den is move-in ready. Open kitchen layout with stainless steel appliances and ample counter space. The dining & living area open onto a large, private deck. The bathroom has been tastefully & totally updated-complimented with a vanity mirror and cabinet drawers under the sink. The den or office makes for a great separate work or relaxing area that features a small passage to the kitchen. Functional layout with extra closets, insuite storage room and a strata approved, 2 year old W/D. 1 secured parking spot, bike storage. Rentals and pets are allowed with certain restrictions.

Just reduced from $379,000 to $369,000

For more information on this property click this link

2-1950 5TH AVE W

Wow! Your own private rooftop deck to entertain, barbeque or just relax with 360 degree views of water, mountains, city! This is over & above this fabulous 4 year old townhouse situated in private courtyard in trendy Kitsilano and central to everything. 1,368 sqft. 2 underground parking, 1 locker with 2 bdrms, office/computer area, & media/den area. The main floor has a terrific gourmet kit area complete with large island with seating for 4. Stainless steel appliances, gorgeous granite countertops, 60 bottle wine fridge, gas stove & high ceilings compliment the open plan of the dining & living areas with a cozy gas fireplace, giving flexible space that is great for entertaining.

Just reduced from $1,079,000 to $1,049,000

For more information on this property click this link

1956 5TH AVE W 

Sophisticated & stylish, quiet & bright end unit T/H in an unbeatable location in Kitsilano! 1324 sf of contemp. elegance with 2 bdr & Den (3rd bdr) each with ensuite! Gourmet kitchen with s/s appls, gas stove, ample granite countertops & cabinet space. South facing patio off kitchen for your outdoor entertaining. Open concept Main with Great Room design: high ceilings, Gas f/p, hardwood floors, Powder Room. Master suite with W/I Closet & spa-inspired bath with soaker tub & sep. shower. Spacious 2nd bdr with full bath. Lower walk-out level Den with full bath & sliding door to private patio. Large insuite storage. 2 stalls, direct suite access through mudroom! Built in 2006, warranty. 2 pets (max 35 kg).

Just reduced from $988,000 to $968,000

For more information on this property click this link

2519 W 1ST AVE W

Sophisticated, 3 BR executive townhome with tremendous city, mountain & water views from both levels. Top quality, "Robert Ledingham" interior with open plan & two decks for summer entertaining. Oak floors, California shutters, granite counters & Thermador, Subzero, Bosch, Ultraline & KitchenAid appliances. Beautiful cabinets, extensive millwork & trim & luxurious bathrooms with grohe fixtures double vanity and steam shower. Many deluxe built-ins, attic storage, new roof, large double garage and common locker. Just a short walk to Kits beach and 4th Ave shops & restaurants. Conveniently located between the airport, UBC golf course) and downtown. Very unique & exclusive. Close to the heart of Kits but on a quiet treed street.

Just reduced from $2,050,000 to $1,899,900

For more information on this property click this link

300-2386 CORNWALL AVE

The Vue David Battersby design located along a 2km stretch of oceanfront known as Kits Beach. This modern low-rise concrete building comprises of 4 individual residences. Each residence is laid out one per floor to maximize privacy and exclusivity. Private elevator access. Each home offers breathtaking panoramic views of the ocean, beaches, entire cityscape, North Shore mountains. Truly showcases the best views of Vancouver, British Columbia with floor to ceiling slide away doors. Distinctive modern open floor plan featuring custom walnut millwork throughout, architectural concrete flooring, kitchen equipped with European designer appliances, hand set porcelain and glass tiled bathrooms with heated limestone flooring

Just reduced from $1,999,900 to $1,900,000

For more information on this property click this link

103-2036 YORK AVE

Great one bedroom suite in a beautiful Heritage conversion just steps to the beach and to all the shops and services of West 4th Avenue and minutes to downtown. This updated home features in-suite laundry, laminate floors, stainless steel appliances, new counter tops and lighting, extensive crown and baseboard mouldings and a built-in computer desk area. Enjoy the sunshine and views from the huge rooftop deck complete with patio furniture and BBQs. You'll love the intimacy and pride of ownership of this small boutique building in one of the best Kits locations.

Just reduced from $339,900 to $334,900

For more information on this property click this link

323-2680 4TH AVE W

WELL KEPT OVERSIZE ONE BEDROOM AT THE HIGHLY SOUGHT AFTER "STAR OF KITS"! THE SUITE - on the quiet side of the building facing due south. Living/dining room with gas fireplace and sliding doors onto large covered south facing outdoor balcony. Huge open plan kitchen great for cooking/entertaining. Built in desk area. Large master bedroom with pretty bay window and lovely outlook also facing south. In suite storage room. Laminate floors throughout. Shows well! THE BUILDING - one of the best looking and best maintained in Kitsilano. Fabulous central location, steps to shops, restaurants and transit and 5 mins walk to the beach! Secured parking and bike storage. Multiple lockers available at just $15 per month. Pets welcome.

Just reduced from $399,000 to $379,900

For more information on this property click this link

118-3250 BROADWAY ST W

Great location in the heart of Kitsilano! Beautiful 2 bdrm, 2 bathrm, nice layout . The Master bedroom comes with ensuite, walking closet & has access to the balcony. Other features: granite counters, laminate flooring, cozy fireplace, balcony, 1 parking & 1 storage locker. Easy access to UBC & steps to transit, shopping & restaurants. Easy to show!

Just reduced from $469,900 to $449,900

For more information on this property click this link

According to the MLSLink® Housing Price Index (HPI), the benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 4.6 per cent to $579,349 in October 2010 from $553,702 in October 2009. Since June, however, residential home prices in Greater Vancouver have remained relatively unchanged, declining 0.2 per cent.

“We’ve seen a lot more consistency and less volatility in recent months when it comes to both number of sales and pricing, although it’s important to remember that conditions often vary between communities and neighbourhoods,” Jake Moldowan, Real Estate Board of Greater Vancouver (REBGV) president said.

Looking at transactions, the number of residential property sales in Greater Vancouver totalled 2,337 in October 2010. This represents a 5.3 per cent increase compared to September 2010 and a 36.9 per cent decline from the 3,704 sales in October 2009.

More broadly, last month’s residential sales represent a 71.3 per cent increase over the 1,364 residential sales in October 2008, a 22.8 per cent decline compared to October 2007’s 3,028 sales, and a 14.1 per cent decline compared to the 2,722 sales in October 2006.

“As we enter the final two months of the year, buyer demand is in closer alignment with supply than we’ve seen for most of 2010,” Moldowan said. “Those buying today recognize that they still have a chance to enter the market with near-record low interest rates, while gradual reductions in inventory have eased downward pressure on prices.”

Total active listings on the Multiple Listing Service® (MLS®) in Greater Vancouver currently sit at 14,075, an 8.6 per cent decline from last month and a 16.4 per cent increase from October 2009. New listings for detached, attached and apartment properties declined 25.7 per cent to 3,698 in October 2010 compared to October 2009 when 4,977 new units were listed.

Sales of detached properties in October 2010 reached 976, a decrease of 34.4 per cent from the 1,487 detached sales recorded in October 2009, and a 98 per cent increase from the 493 units sold in October 2008. The benchmark price for detached properties increased 6.3 per cent from October 2009 to $796,883.

Sales of apartment properties reached 984 in October 2010, a decline of 38.8 per cent compared to the 1,607 sales in October 2009, and an increase of 52.1 per cent compared to the 647 sales in October 2008.The benchmark price of an apartment property increased 2.4 per cent from October 2009 to $390,074.

Attached property sales in October 2010 totalled 377, a decline of 38.2 per cent compared to the 610 sales in October 2009, and a 68.3 per cent increase from the 224 attached properties sold in October 2008. The benchmark price of an attached unit increased 4 per cent between October 2009 and 2010 to $487,530.

*Information and stats courtesy of the REBGV

307-3280 BROADWAY W

Bright top floor corner unit of a rain screened building. Newly upgraded features include laminate floors, quartz counter tops, dishwasher, kitchen sink, faucet and garbage disposal and custom dining room cupboards. Strata fees of $259 include one underground parking ( second available for rent), gas fireplace and hot water. Vaulted living room ceiling, in suite laundry, BBQ friendly balcony with an outstanding mountain view, great storage in basement locker as well as large in suite storage. All amenities are within walking distance.

Just reduced from $449,100 to $439,900

For more information on this property click this link

For more information on this property contact us here.

LP = List Price

SP = Sale Price

CDOM = Days on Market

* all stats taken from REBGV

Aptly named to envisage the Kitsilano Village atmosphere that the Craftsman architecture and dynamic neighborhood evoke, this beautifully kept one + den at Polygon's highly coveted "The Greenwich" is certain to satisfy discerning tastes. Highlights incl a generous size balcony w/mtn & city views, s/s appliances, cozy gas F/P, a relaxing soaker tub & quality interior detailing. Incredible location only steps to 5th Ave Cinemas, fabulous 4th Ave shpg & restaurants, & transit to Downtown to U.B.C.; approx 10 mins further & you're at Kits Beach or Granville Island. RAINSCREEN TECHNOLOGY to enhance buyer confidence, secured prkg & a conscientious strata community further explain why suites at The Greenwich are always in high demand.

Just reduced from $429,000 to $419,000

For more information on this property click this link

302-2287 3RD AVE W

North of W 4th - Corner one bedroom with S/W/N exposure and 3 balconies. Kitchen updates include cabinets and appliances. Large dining bar built to create an open floor plan. Cozy W/B fireplace in living room, opening to large balcony. Fresh coat of paint and new carpeting makes this suite move-in condition. Bonus: insuite laundry, parking and storage. Building - rainscreened, updated plumbing and new roof. Pets w/ restrictions, no rentals

Just reduced from $389,000 to $379,000

For more information on this property click this link

304-2436 4TH AVE W

Wow!! Rare 2 level loft, New York style, 2 bedroom penthouse unit at Georgie award winning PARIZ in prime Kitsilano!! Open concept plan living/dining, brand new hardwood floors, spacious kitchen w granite countertop and stainless appliances, bathrooms with Kohler sinks and Grohe fixtures, 2 spacious decks, upper deck features panoramic water views! High lofted vaulted ceilings in master bedroom, electric fireplace, insuite laundry, BI vaccum, secured u/g parking and secure storage. New upgrades of hardwood floors & paint. Immaculate 8 unit building in great shape. 5 min walk to the beach, shops, cafes - Great living!

Just reduced from $609,000 to $599,000

For more information on this property click this link

208-2330 MAPLE ST

Sunny and warm south facing renovated home; hardwood laminate flooring, full size stainless steel stove, fridge and dishwasher, maple cabinets, double sinks and entertainer's pass-through highlight gourmet kitchen. Extras include large pantry, office nook, bedroom closet organizer, huge storage locker, bike room and one parking spot. Steps to Broadway Transit and shopping as well as West 4th shops, eateries and Kitsilano Beach. No alley so view from suite is peaceful and green to enjoy year round BBQ's on your sunny, covered deck. Low maintenance includes heat and hot water. Rentals and pets allowed

Just reduced from $319,900 to $315,900

For more information on this property click this link

3155 4TH AVE W

Bridgewater by Bosa. Bright and functional south facing 2 bed 2 bath in Kitsilano. This corner half level up townhome style condo has private entrance on West 4th Ave. Upgraded Hunter Douglas top down blinds provide great outlook and privacy and lots of sunlight. Gas fireplace, large windows, insuite storage and a great balcony. Close to cafe, restaurants, parks, beach and UBC. Just move in!

Just reduced from $489,000 to $479,000

For more information on this property click this link

305-2015 TRAFALGAR ST

Action priced is this 5 year old as new residence featuring 809 sq ft of top quality finishings including open kitchen with granite counters, gas fireplace and maple hardwood floors. Located on a tree-lined street, this 1 bedroom + den (2nd bdrm) home is steps away to the shops of W 4th, the beach and public transportation. Pets are welcome!

Just reduced from $519,000 to $495,000

To see photo's and get more information on this property click this link

220-1844 7TH AVE W

Nicely updated and roomy 1BR suite. Recent reno's include: flooring, countertops, bathroom tile, faucets, in-suite washer/dryer, window coverings, paint. Lovely quiet and treed outlook from oversized balcony. Walk to beach, shop West 4th and enjoy Granville Island-just a few minutes from your door step. Very well maintained & managed building with newer roof and plumbing. Storage locker and secured underground parking. Pet friendly. Measurements are approximate. 65 sq ft balcony

Just reduced from $369,000 to $359,000

To see photo's and get more information on this property click this link

LP = List Price

SP = Sale Price

CDOM = Days on Market

101-1875 8TH AVE W

GARDENERS & PET LOVERS PARADISE! This is it! Completely renovated, this spacious 1 bdrm is unique, sophisticated & elegant. Granite counters, stainless steel appls & cabinetry. The engineered H/W floors are dark walnut & complement the crisp fresh white wall palate. A real wood burning F/P make the suite cozy in the fall & winter & a huge & inviting south facing garden patio surrounded by greenery that extends your living space by over 300SF is perfect for the spring & summer. An easy stroll to 4th Ave & Broadway for shopping & transportation, the beach or Granville Island. The location is fantastic. Dog or cat is welcome, you will not be disappointed. 1 secure parking & storage below. 

Reduced from $354,900 to $344,900

For more information on this property click this link

This is good news for potential  Kitsilano condo buyers as it should keep interest rates provided by lenders close to current low levels for the next few months. As of this week 5 year fixed rates can be found as low as 3.45 percent for those that qualify.   

Today’s MPR provides some additional details behind Canada's revised growth forecast looking at the quarterly pattern with slower growth rates forecasted across the board for 2010 and 2011, with the exception of the fourth quarter of next year. The updated forecasts show the economy growing at 1.6% in the third quarter, much slower than the July forecast of 2.8%. Fourth quarter growth is now expected at 2.6% from 3.2%. Similarly, the MPR indicates the central bank is now projecting the core inflation rate will be lower than it expected in July with the core rate forecasted at 1.6% in the second half of the year from 1.8% in the July forecast. This slower pace of increase is forecasted to persist throughout 2011 and 2012 with the rate hitting the 2% target in the final quarter of 2012. There were more minor changes to the forecast for headline inflation. The Bank deems that there is still considerable slack in the economy that will keep inflation contained going forward.

The details of the Bank's growth forecasts highlight a shift from consumer and government spending to business investment and net exports as supporting growth. The outlook for consumer spending is that it will grow at a pace that is closer to income growth. Additionally, spending will be dampened by "increasingly stretched" household balance sheets and the absence of support from rising housing prices going forward. The Bank also expects government spending will act as a mild negative for growth in 2011. On the upside, higher business investment and rising demand for Canadian exports should support the economy's expansion. 

The Bank of Canada provides updates on its outlook for potential growth once a year with the release of the October MPR. In the October 2009 MPR, the Bank projected potential growth of 1.5%, 1.9% and 1.9% for 2010 to 2012, respectively. This projection reflected an assumption of “trend” labour productivity growth of a measly 0.2% this year followed by gains of 0.9% and 1.2% in 2011 and 2012, respectively. In today’s MPR, the Bank revised its outlook for potential to 1.6% in 2010, 1.8% in 2011 and 2.0% in 2012. Potential is forecasted to rise to 2.1% in 2013. The revisions reflect an increase in labour productivity in 2010 to 0.6% and lower trend labour growth of 1.0% (from 1.3% in October last year). Labour productivity is forecasted to grind higher in 2011 until 2013 while labour input is expected to be more moderate than in 2010.

The report presents a weaker outlook for the global economy although the Bank expects that a modest recovery will continue. The forecast for the US was cut to 2.7% in 2010 (from 2.9%) and more substantially to 2.3% (from 3.0%) in 2011. Deleveraging by households, the persistently weak labour market and renewed weakening in the housing market are resulting in a more gradual recovery in domestic demand than the Bank assumed in July. The outlook for the world economy was upped in 2010 to 4.7% (from 4.6%) although this likely reflects strong growth in the first half of the year. 2011's global growth forecast was shaved to 3.5% from 3.8%. 2012 forecasts were lowered for all countries covered in the table, with the exception of China where the growth rate was boosted to 8.9% from 8.7%. Global growth in 2012 is now forecasted at 3.8%. The Bank highlights that for the global recovery to continue there needs to be a "greater rotation of demand" from public to private, which will be "supported by increased flexibility in exchange rates."

The Bank said that the risks to the outlook are "roughly balanced" pointing to the prospect of higher than forecasted commodity prices, stronger than expected housing and labour market developments in the US, or stronger than expected household borrowing and spending in Canada. The downside risks could arise from higher currency or slackening productivity performance that dampens the outlook for Canadian exports, intensification of global deflationary pressures or a sudden weakening in Canada's housing market. The Bank assumes that that Canadian dollar will average $0.98 against the U.S. dollar, energy prices will move along with futures pricing (oil prices were upped across the forecast compared to July) and global credit conditions will remain supportive.  

Given this forecast update, we maintain our call that the Bank of Canada will keep the overnight rate at 1% in the near term. Our baseline forecast that the economic recoveries in both the US and Canada will be solidly in place and that worries about sustainability will ease sufficiently by the March policy meeting, however, sets up for the Bank to resume gradually increasing the policy rate. With inflation quiescent, we look for a cumulative increase in the overnight rate of 125 basis points in 2011 to 2.25%.  

Dawn Desjardins, Assistant Chief Economist, RBC Economics

To view the economic data calendars with trend charts, go to:

http://www.rbc.com/economics/html_calendars/ca/calendar.html(Canada)

LP = List Price

SP = Sale Price

CDOM = Days on Market

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,220 in September 2010. This represents a 0.8 per cent increase compared to August 2010 and 37.6 per cent decline from the 3,559 sales in September 2009.

In comparison, last month’s residential sales represent a 40.1 per cent increase over the 1,585 residential sales in September 2008, a 20 per cent decline compared to September 2007’s 2,776 sales, and an 11.9 per cent decline compared to September 2006’s 2,519 sales.

“We’ve seen fewer properties coming on to the market over the last three months. This trend, combined with the continued attraction of low interest rates, is likely having the effect of less downward pressure on home prices,” Jake Moldowan, REBGV president said.

Since spring, housing prices in the region have trended slightly downward, with a decrease of 2.7 per cent compared to the all-time high reached in April when the MLSLink® Housing Price Index (HPI) residential benchmark price was $593,419. The overall benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.5 per cent to $577,174 in September 2010 from $547,092 in September 2009. The current price remains consistent with last month, rising just 0.1 per cent between August and September 2010.

Total active property listings posted on the Multiple Listing Service® (MLS®) in Greater Vancouver currently sit at 15,401, basically unchanged compared to last month and a 22 per cent increase from September 2009. Over the last three months, active listings in the region have declined12.3 per cent.

New residential property listings posted in September declined 17.6 per cent to 4,731 compared to September 2009 when 5,746 new units were listed.

“We saw signs of more stability in our marketplace last month than we have seen since spring based on a variety of indicators that we look at each month,” Moldowan said. “At 56 days, it took, on average, three days less to sell a home in our region compared to August. This is the first month-over-month decline we’ve seen in this category since April.”

Sales of detached properties in September 2010 reached 866, a decrease of 39.1 per cent from the 1,423 detached sales recorded in September 2009, and a 58.6 per cent increase from the 546 units sold in September 2008. The benchmark price for detached properties increased 6.7 per cent from September 2009 to $790,992.

Sales of apartment properties reached 971 in September 2010, a decline of 34.7 per cent compared to the 1,489 sales in September 2009, and an increase of 27.1 per cent compared to the 764 sales in September 2008.The benchmark price of an apartment property increased 3.7 per cent from September 2009 to $388,373.

Attached property sales in September 2010 totalled 383, a decline of 40.1 per cent compared to the 647 sales in September 2009, and a 39.3 per cent increase from the 275 attached properties sold in September 2008. The benchmark price of an attached unit increased 5.2 per cent between September 2009 and 2010 to $490,385.

The new agreement if accepted by the members of CREA on October 24^th would allow home seller’s a broader range of services when using a Realtor in the sale of their home.   For example some home owners may choose only to pay their Realtor for the services of having their home listed on MLS, and will deal with the other facets of the sale  - viewings, offer negotiation, transactional details etc themselves.

Will this change BC’s real estate industry?  Hard to accurately predict these things, but I think any effect it may have will not be dramatic as some believe.  Discount brokerages offering limited services have existed in BC for some time but still remain a very small part of the overall market share.

Services currently provided by most Realtors include - qualifying home buyer’s, advising a client of a home’s true market value based on current market conditions, arranging viewing tours of appropriate homes, reviewing building documents for potential risks, negotiating and overseeing contractual details, arranging inspections, conveyancing ... - the list is long and services complex with the Realtor’s goal aimed at ensuring a wise investment and creating a positive experience.   All these elements if taken on by a person unskilled in their details can be extremely stressful, overpowering, and add huge risks to what is often one the largest investments they will make. 

Broader options available to consumers will always maintain a healthy free market system but the Competition Bureau’s bulldog effort to apply new rules to CREA may in the end accomplish very little in BC.  A more co-operative approach and deeper consultation with Realltors and consumers could have achieved more. Unless people become more willing to take time out of their often already busy lives to study the detailed elements involved in a real estate transaction, many people will most likley continue to choose to use the more comprehensive Realtor service packages that already exist.

For more information visit –

 http://www.cbc.ca/consumer/story/2010/10/01/consumer-crea-mls-competition-bureau-agreement.html

http://www.torontosun.com/money/2010/10/01/15544556.html

http://www.winnipegfreepress.com/business/breakingnews/competition-watchdog-real-estate-association-reach-agreement-on-flexibility-104112434.html

1. Meet some people in the building

Have your Realtor arrange an appointment in the evening when most people will be home so you can meet a few people that live there.  I’ve found most people don’t mind answering a couple of questions as long as you’re not disturbing them at a weird time of the day. Ask about the neighbours if you are able to meet the owners, or if you feel brave enough knock on the neighbours’ door.  Remember to be polite and friendly and not to be an interrogator. Asking them whether they like living there and what they think of the building.

2. Hang around

Spend some time around the building and watch the ebb and flow of traffic of cars, buses, and people going in and out of the building.  Seeing lots of young adults going in and out of the building means there are probably a lot of rental units. Lots of rental units means lots of tenants and high turnover of people in the building. It is also a good idea to visit at night so you can see what the neighbourhood is like when you will most often be home.   

3. Construction quality

Find out what kind of material the building is built out of. Wood frame buildings will always allow more noise between floors and walls.  Newer buildings tend to have better sound proofing material s in them from construction whereas old ones the may have nothing at all to prevent noise transfer.  Your inspector will not be able to tear apart your flooring or walls to tell you what kind of sound dampening material there. He can however look at the age and quality of construction and give you an opinion based on that.  You pay them well ...ask lots of questions!!

4. Read the rules, by-laws, and minutes before you write an offer

Most people think you can only read the strata rules, by-laws, or meeting minutes once you have an accepted offer on the property. Not usually the case. Many Realtors don’t mind providing a PDF of these documents beforehand to any potential buyer if they express serious interest. Read through them and look for complaints about noise and see how they are addressed.  Most strata bylaws use a fine system for infractions so noise offenders are often discouraged by the money it may cost them.

5. Talk to someone on council

Any concern you may have can be directed towards a strata council member. Usually the strata president is your best bet for answers.  Get your Realtor to get their phone number and have a good chat with them about your concern. They will give you a good idea if noise is a common complaint and how they address the complaints they do receive. 

Dean Wegman - Sutton West Coast Realtor

Clutter-Free Living

The choice to live in a condo generally means one must commit to living clutter-free. Although most condos have a storage locker and at least one closet, the space for storage is quite limited compared to that of other types of homes. That’s why it’s so important to adopt a Zen-like approach to clutter and possessions. If you don’t need it, sell it, give it to charity or throw it out. If you don’t know where you’ll put it, don’t buy it. Life is much easier without too much stuff, and condos are much more attractive when they aren’t packed with useless possessions.

Flowing Decor

When decorating a condo, choose a theme and stick with it. Condos and condo townhouses are generally open-concept and fairly small, and introducing too many colour schemes will overpower the space. When painting, choose a colour that you can repeat–for example, paint your bedroom the same colour as your washroom to give the impression of an ensuite and then chose a lighter or darker version of the shade for the living area and kitchen.

Dramatic Wood Finishes

It’s tempting to go with deep, dark paint colours when seeking to add drama to your condo decor, but particularly in a small space, this is not a great idea. Instead, stain the floors a dark oak or cherrywood finish. Cupboards can be outfitted with dramatic finish as well and furniture in rich distressed black stain is another attractive way to add depth to your decorating.

Streamlined Storage

Maximize closet space by building shelves and installing closet organizers. Make every square foot count–even under the bed! Buy thin plastic storage boxes which slide easily into small spaces and use them to store seasonal clothing, wrapping paper, gift bags and more. Invest in drawer organizers and cupboard shelves, too.

What’s Not: 

Garish Paint Colours

Lime green may be your favourite colour–and very in to boot–but that doesn’t mean lime is a wise paint colour choice. If you love it, don’t shy away completely, but don’t make it the main focus of your space, either, as rich colours tend to dominate. Instead, choose boldly-coloured accessories such as blankets, throws, candles and vases. If you simply must paint in a dramatic shade, choose a single wall to adorn with shocking colour.

Fading Floors

Even if you didn’t upgrade your floors, it’s important to keep them in great condition. Laminate floors should not be washed with water, because it can leak through cracks and cause bubbling. Instead, sweep well and spot clean with a damp cloth. If you have hardwood, keep it in mint condition by cleaning and waxing regularly. If you plan to sell, a floor sand and refinish may be a good investment.

Too Much Bulk

You may not plan to live in a condo forever, and thus would rather invest in furniture that will make the transition from condo to house with ease – but big, bulky, house-size furniture just doesn’t compute in a small condo. Choose your stuff wisely, and don’t break the bank on condo furniture. There are bargains to be had, especially on small, streamlined stuff 

By Marissa Ponikowski @ HGTV

When comparing the number of active listings of July and August this year for Vancouver West we see they have decreased 23.7 percent for attached homes, 11.3 percent for detached homes, but increased 5.5 percent for apartments.   When reviewing this trend for the months previous to July, and what has happened thus far in September, the number of active listings on the market is steadily being reduced.

With fewer new listings, total active listings are on the decline signalling that a possible end to the buyer’s market may be on the horizon.

* Statistics provided by REBGV August report

• The sharp decline in housing resale activity since the beginning of the year has ignited fears that the Canadian market has started to crash.
• In large part, such concerns are based on the belief that the spectacular run-up in prices in the past several years reflected bubble-like conditions, which will inevitably end up in a gut-wrenching correction.
• While we agree that housing prices are currently historically elevated, we do not believe that any major slump will necessarily ensue.
• Housing affordability – the best indicator of underlying market tensions, in our view – has deteriorated in recent quarters but remains much better than it was in the late 1980s and early 1990s when bubbles clearly caused the Canadian market to meltdown in the years that followed.
• The further expected modest erosion of affordability in the period ahead is seen to cool housing demand not deep-freeze it.
• Home prices, overall, are generally expected to stay above water in Canada, although there are some local markets, such as such as Vancouver and, possibly, Montreal, where very poor affordability could well lead to declines to correct these imbalances.

Details

The 30% drop in seasonally-adjusted monthly housing re-sales in the first seven months of this year has raised fears that a full-blown slump is in the works for Canada. Last year’s spectacular rally, which not only contrasted sharply to the moribund state of housing in most other parts of the developed world but also heated up conditions to even greater levels than those which prevailed in 2007, are perceived by some as evidence of a bubble threatening to burst anytime.

Such fears are rooted in the significant price gains since 2001 that far exceeded household income growth in Canada. Home prices nearly doubled nationally during that period, while disposable income grew by less than 50%. The ease with which the Canadian market recovered the losses incurred during the (short-lived) downturn of the latter part of 2008 and early 2009 and with which prices surpassed previous record highs during the rally only feed the notion that the Canadian market is being driven by irrational behaviour.

However, we find little compelling evidence of irrationality or bubbles in the overall Canadian market relative to historical patterns.

The best measure of underlying stress – housing affordability – does not flag any major misalignment with respect to prices. At most, it points to a moderate degree of overstretching on the part of Canadian households – something that can be righted in time without causing a significant disruption in the market.

A natural benchmark to gauge the market’s vulnerability to a severe downturn is the level of affordability that prevailed in the late 1980s and up to early 1990, the last time that the Canadian housing market was widely viewed as being in a ‘bubble’, which was a period during which speculative activity was a prominent phenomenon and prices skyrocketed to irrational highs. The bursting of the bubble in late 1990 and its aftermath weighed of the Canadian market for the better part of the 1990s.

While housing affordability has been on a deteriorating trend again since the middle of last year – after improving significantly in 2008 and early 2009 – levels still remain much better than those in 1990. In the first quarter of this year, RBC’s affordability measure for a typical bungalow in Canada was 41.1% compared with 54.2% in the second quarter of 1990 (the higher it is, the less affordable homeownership is); nonetheless, this was modestly above the long-term average of 38.9%, suggesting some greater than usual underlying tension at present.

Exceptionally low mortgage rates are a key factor that have kept homeownership costs from spiralling out of households’ reach.

These low rates are also a key reason why affordability metrics cause much less alarm than valuation measures such as the price-to-income ratio or the price-to-rent ratio, both at or near record levels presently. Home prices are indeed elevated, but the monthly mortgage payments (i.e., the cash flows associated with those prices) are still well below dangerous levels.

The risk, then, is that as interest rates rise, affordability will deteriorate further. We have looked into the issue and simulated where affordability measures would be under more ‘normal’ mortgage rates – defined as the long-term real rate plus an inflation premium of 2 percentage points. We found that affordability in Canada would currently be about as poor as it was in early 2008 (more than 46% for the typical bungalow) but still significantly better than at the worse point in 1990. (The normal rate used in the simulation is approximately 150-basis points higher than the mortgage rates prevailing at present.)

Since the monetary policy renormalization is expected to take place during the next 12 to 18 months, the effect of rising interest rates on affordability will be gradual and, therefore, will not constitute a sudden shock to the housing market. Meanwhile, an expanding economy will spur household income growth, which will provide some offset. Consequently, underlying pressure is unlikely to erupt and devastate the Canadian housing market. In our view, the expected path of affordability will work to continue to cool demand for housing in Canada from its recent red hot pace. We do not believe demand will go into a deep freeze.

The implications for home prices are that, overall, they are generally expected to stay above water because supply will adjust in response to weakening demand.

It must be noted that this assessment focused on the overall market in Canada. Naturally, there are regional differences. Affordability measures flag more intense pressures then evident nationally in areas such as Vancouver where homeownership costs are still near record-high levels and far above anywhere else in the country. Montreal also has seen a notable erosion in recent years although affordability remains attractive relative to Canada’s other major cities. In the case of Toronto, measures point to modestly worse than average affordability (historically), but the situation continues to be significantly healthier than it was in the late 1980s and early 1990s.

Bottom line

Affordability measures suggest that housing market fundamentals are comparatively stronger than those that prevailed in 1990, thereby minimizing the risk that a 1990s-style crash will occur.

Nonetheless, because the cost of homeownership is likely to remain higher than average, a slower pace of housing market activity and more subdued pricing environment than we have experienced from 2002 to 2008 and again during the second half of last year should be expected.

written by - Robert Hogue - Senior Economist RBC

The most obvious reason is our geography.  According to a recent Sun article approximately 70 percent of the land around Vancouver isn’t developable. It is mountains, water, or the United States.  Toronto, Winnipeg, and most other major Canadian cities do not face these geographical issues and suburban “sprawl” dominates development practices.  Anyone who’s had a window seat on an airplane flying into or out of these cities has witnessed how massive suburban sprawl can be - rows upon rows of identical houses as far as the eye can see. That mass development style without our geographical boundaries means more home inventory can be built when demand exists.  A much larger supply makes prices in these cities much more affordable.

The second reason actually has to do with the first.  Our mountains, rivers, and oceans consistently rank BC as one of the top places in the world for quality of living.  British Columbians are some of the most active healthy people you will find.  This has been proven as studies on life expectancy in major cities in the world put BC alongside Japan for the longest average life expectancy.  This quality of life and healthy living provided by our environment leads to consistently strong population growth – 1.3 to 1.5 percent per year.  This means over 30,000 people a year move to Vancouver from outside and within the country.   The result?  The bigger the population a city has the higher the condo and home prices will be. More popular areas like Kitsilano, Fairview, and downtown will always have some of Vancouver’s most expensive home prices. 

Tsur Sommerville, of the UBC  Center for Urban Economics and Real Estate puts it into an interesting perspective:

“if we lose 70 percent of the land, our metropolitan area of two million will have the same house prices as a seven million metropolitan area.  Because people have to commute the same distance”

When talking to people about home prices and how they feel about the real estate market in Vancouver almost unanimously people will say it’s too expensive. Yet when asked if they would prefer to live somewhere else I often responses such as -  

“Like where ... Toronto?  Winnipeg?...  are you kidding!”

Real estate market conditions in Kitsilano rarely seem to favour those looking to enter into the condo or housing market during the past decade. Fortunately over the past two years there have been some really great opportunities for Kitsilano home buyers.  The best opportunity of recent times happened during the latter part of 2008 and early 2009 as the ongoing US recession, beginnings of the Canadian recession, and the impending global credit crisis captured newspaper and TV headlines. During that time those brave enough or secure enough in their finances that bought homes experienced some of the best deals and home prices the area has seen since 2006.

During the second quarter of 2009 historically low interest rates, accumulated inventory, pent up demand, coupled with increasing consumer confidence created a buying frenzy in Kits and other Vancouver neighbourhoods. This resulted in record breaking months of home sales and competing offer situations were common. Once again those selling their homes controlled the real estate market.

The early part of 2010 was similar to the mid and latter part of 2009 with many Kitsilano home buyers looking to capitalize on what was thought to be the end of the super low interest rates, less stringent CMHC rules, and pre- HST era.  As expected once key lending rates were raised by the Bank of Canada and the HST implemented the Kitsilano real estate market slowed down. 

As happened in the fall of the 2008 and early 2009 the power has now in the latter part of 2010 shifted to the home buyer.  So why aren’t people buying homes? 

Simple, many people in a position to buy bought during the past year and a half so demand is understandably significantly down.  What I’m also finding though is that many people just don’t realize how good buying conditions really currently are.

True - key lending rates have been raised twice in the last year by the BOC, and with the new CMHC rules you must qualify at the posted rates. However ... all the major banks have actually lowered 5 year fixed rates twice over the past two months.  A mortgage broker with RBC told mea few days ago that 5 year fixed rates are again in the 3.6 -3.7 percent range! That’s as good as I can remember them ever being during the market doldrums of 2009. 

With such reduced demand, great low interest rates, and a large amount of homes for sale in Kitsilano home buyers are truly in a great position to negotiate a very fair price and favourable terms on a home purchase.  Will it last?  It seems unlikely. Here’s why. 

The number of new listings for sale in Kitsilano has been dropping over past months so it is very possible that come fall we will reach a point where demand and supply are more equal. This will shift us into more “balanced” real estate market conditions.  With interest rates if the national economy starts recovering the way we’ve be led to believe it will, and the US economy eventually starts to rebound the banks will undoubtedly start increasing them.    

To receive regular updates on the Kitsilano real estate market click here  

“A relatively large number of homes for sale have created the most favourable supply conditions for home buyers in more than a year,” said Cameron Muir, BCREA Chief Economist.

MLS® active residential listings were 21 per cent higher in July than at the start of the year on a seasonally adjusted basis. However, with newly listed MLS® residential units now declining, tighter market conditions may emerge this fall in popular areas like Kitsilano, Fairview, and downtown.

Year-to-date, BC residential sales dollar volume increased 16 per cent to $24.2 billion, compared to the same period last year. Residential unit sales rose 4 per cent to 48,127 year-to-date, while the average MLS® residential price climbed 13 per cent to $504,281 over the same period.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,255 in July 2010. This represents a 45.2 per cent decline from the 4,114 sales in July 2009, the highest selling July ever recorded, and a 24.1 per cent decline compared to June 2010.

Looking back further, last month’s residential sales represent a 3.7 per cent increase over the 2,174 residential sales in July 2008, a 41.8 per cent decline compared to July 2007’s 3,873 sales, and a 17.5 per cent decline compared to July 2006’s 2,732 sales.

“With the pace of home sales and listings easing off in our market, we’ve begun to see a levelling of home prices from the record highs seen in the spring, creating greater affordability,” Jake Moldowan, REBGV president said. “Activity in today’s marketplace is clearly trending in favour of buyers.”

The number of properties listed for sale on the market has been trending downward since spring, with 4,138 new listings in July compared to April’s peak of 7,648. New listings for detached, attached and apartment properties in Greater Vancouver on the Multiple Listing Service® (MLS®) declined 17.9 per cent in July 2010 compared to July 2009, when 5,041 properties were listed for sale.

At 16,431, the total number of property listings on the MLS® in July declined 6.5 per cent compared to last month and increased 33 per cent compared to July 2009.

“It’s currently taking home sellers who work with a REALTOR®, on average, 45 days to sell their property, which is a historically healthy timeframe for people on both sides of a transaction,” Moldowan said.

Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the residential benchmark price was $593,419. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 9.1 per cent to $577,074 in July 2010 from $528,821 in July 2009.

Sales of detached properties in July 2010 reached 908, a decrease of 43.7 per cent from the 1,614 detached sales recorded in July 2009 and a 9.8 per cent increase from the 827 units sold in July 2008. The benchmark price for detached properties increased 11.5 per cent from July 2009 to $793,193.

Sales of apartment properties reached 979 in July 2010, a decline of 42.7 per cent compared to the 1,708 sales in July 2009 and an increase of 1.3 per cent compared to the 966 sales in July 2008.The benchmark price of an apartment property increased 6.2 per cent from July 2009 to $387,879.

Attached property sales in July 2010 totalled 368, a decline of 53.5 per cent compared to the 792 sales in July 2009 and a 3.4 per cent decline from the 381 attached properties sold in July 2008. The benchmark price of an attached unit increased 8.6 per cent between July 2009 and 2010 to $490,995.

This decrease and then increase next year in sales in expected to reflect the overall economic performance of the province, following its rapid recovery and fast pace after the recession. 

A larger inventory of homes for sales has currently turned popular Vancouver neighbourhoods like Kitsilano, Fairview, and downtown into conditions more favourable to buyers. Buyers at this time have more room to negotiate than Seller’s do to set prices.

Some experts believe this will however be short lived as the number of new listings peaked in May and are beginning to wane.  If continued this would put the Vancouver real estate market in a more “balanced” conditions come fall.

Sales in Vancouver and Kitsilano were “front loaded” into the first half of the year,  pushing benchmark prices to new records. Though a price correction may occur Royal LePage anticipates home prices to remain approximately 10 percent higher than they were by the end of 2009.

Kitsilano real estate experienced a frenzy of activity in the fall of 2009 and early 2010 like most Canadian housing markets. Though 2009 was unusual in its pattern due to the recession, 2010 seems to be following a more typical seasonal pattern of having sales and prices peak in the second quarter.

An increase in the supply of homes and moderated demand can be seen as a positive to home buyers as it creates stabilization in prices and more healthy sustainable market conditions.     

This move follows changes already made by bigger banks such as Royal Bank of Canada, Bank of Montreal, and the Toronto Dominion Bank.

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“Activity in June marked a healthy balance between the near record setting pace of June 2009 and the considerably slower activity witnessed in June 2008, a period of recession as we all know,” Jake Moldowan, REBGV president said.

Compared to June 2008, last month’s sales represent a 22.6 per cent increase over the 2,425 sales recorded that month, but are 30 per cent less than the 4,244 sales in June 2007. June 2010 sales also represent a 5.8 per cent decline compared to the previous month’s sales totals.

“We didn’t experience any record-breaking activity in June, but we did see a stable summer market,” Moldowan said. “The number of new listings coming on the market is not as dramatic as we saw over the previous three months and demand remains at a healthy level for this traditionally quieter time of year.”

New listings for detached, attached and apartment properties totalled 5,544 in June 2010, a 3.2 per cent increase compared to June 2009 when 5,372 new units were listed, and a 21 per cent decline compared to May 2010 when 7,014 properties were added to the MLS®.

At 17,564, the total number of property listings on the MLS® increased 1.2 per cent in June compared to last month, and is up 32 per cent compared to this time last year.

“There has been less upward pressure on prices in our market the last few months, which has allowed prices to ease back from the record high numbers seen in April,” Moldowan said.

Over the last 12 months, the overall MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 11.8 per cent to $580,237 from $518,855 in June 2009.

Sales of detached properties in June 2010 reached 1,139, a decrease of 31.7 per cent from the 1,667 detached sales recorded in June 2009 and a 24.1 per cent increase from the 918 units sold in June 2008. The benchmark price for detached properties increased 13.4 per cent from June 2009 to $795,025.

Sales of apartment properties reached 1,258 in June 2010, a decline of 29.7 per cent compared to the 1,790 sales in June 2009 and an increase of 19 per cent compared to the 1,057 sales in June 2008.The benchmark price of an apartment property increased 9.7 per cent from June 2009 to $391,528.

Attached property sales in June 2010 totalled 575, a decline of 28.3 per cent compared to the 802 sales in June 2009 and a 27.8 per cent increase from the 450 attached properties sold in June 2008. The benchmark price of an attached unit increased 11.6 per cent between June 2009 and 2010 to $492,861.

The inflation report shows that gains in cost of living eased in May to 1.4 percent from 1.8 percent in April, and core inflation also edged lower from 1.9 percent to 1.8 percent. These numbers however are still higher than expectations set by the BOC and have analysts expecting the second increase in two months.

Canada became the first country in the G7 to increase borrowing costs from the emergency low levels and adopt a rate tightening agenda.  Most analysts expect a 25 basis point increase over the next three meetings.

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According to the vacancies increased to 2.2 percent in the spring, which is line with most markets in BC and Canada which also saw higher apartment availability. An increase of first time home ownerships and an increase in unemployment which caused some to move home or move in with friends both contributed to take renters out of the market.

In recent past Vancouver’s vacancy rate has hovered at least than 1 percent so the increase can be seen as healthy. There are some options out there for tenants, and landlords that price their apartments reasonably will be able to rent out there units in minimal time.

To make matters worse with implementation of the HST this July costs to homeowners will increase by 7 percent for labour and materials. Contractors and renovation companies have been preparing for the worst and already experiencing a major decrease in jobs.

The tax credit was part of the government’s economic stimulus plan and returned up to $1,350 to homeowners on work completed by February 1^st , 2010.

According to Cameron Muir, BCREA chief economist, home sales this year and in 2010 will reach their 10 year average.  Muir goes on to say that prices are expected to have risen by 10.7 percent in Greater Vancouver by the end of 2010 and remain relatively flat (0.4percent) in 2011.

Price growth has occurred in the  Kitsilano real estate market over the last three quarters but if demand continues to wane and supply increases we will see less upwards pressure on prices and enter into more balanced conditions.     

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.

In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.

New listings for detached, attached and apartment properties totalled 7,014 in May 2010, a 48.2 per cent increase compared to May 2009 when 4,733 new units were listed, and an 8.3 per cent decline compared to April 2010 when 7,648 properties were added to the MLS®.

At 17,492, the total number of property listings on the MLS® increased 10 per cent in May compared to last month, and is up 28.2 per cent compared to this time last year.

“Prospective home buyers in today’s market have a broad selection to choose from in every property type. REALTORS® are telling us they’re working with buyers who are not feeling as rushed to make a decision as they did late last year and earlier in the year,” Jake Moldowan, REBGV president said.

Over the last 12 months, the overall MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 16.7 per cent to $590,662 from $506,201 in May 2009.

“It’s important for those looking to buy or sell a home to remember that real estate is local and wise real estate decisions are made by those who understand current market conditions at the neighbourhood level,” Moldowan said.

Sales of detached properties in May 2010 reached 1,256, a decrease of 10.4 per cent from the 1,402 detached sales recorded in May 2009 and a 4.4 per cent increase from the 1,203 units sold in May 2008. The benchmark price for detached properties increased 19.1 per cent from May 2009 to $810,175.

Sales of apartment properties reached 1,354 in May 2010, a decline of 7.1 per cent compared to the 1,458 sales in May 2009 and an increase of 8.8 per cent compared to the 1,244 sales in May 2008.The benchmark price of an apartment property increased 13.9 per cent from May 2009 to $398,783.

Attached property sales in May 2010 totalled 546, a decline of 17.8 per cent compared to the 664 sales in May 2009 and a 1.6 per cent decline from the 555 attached properties sold in May 2008. The benchmark price of an attached unit increased 14.8 per cent between May 2009 and 2010 to $500,339.

The rate increase was expected as the Bank of Canada made it clear they were under pressure months ago to do so due to a strengthening economy and subsequent rising inflation.   When the federal governments announced its new mortgage regulations in February many anticipated a slowdown in the later part of 2010 and prices to flatten after an active spring. This seems to have happened earlier than anticipated.

Recent Real Estate Board of Greater Vancouver (REBGV) statistics show that the federal government‘s announcement may have triggered Kitsilano home buyers to push their buying time table forward to avoid these new regulations and expected rate increases.

To receive regular updates on Kitsilano real estate market conditions click here.

It is expected that other Canadian Banks will make similar announcements.

Know why you are buying

Having a long term strategy is essential as it will determine what type of property to buy to achieve your desired outcome.  Will you buy, renovate, and sell ... or hold for the long term?  Are you buying for capital growth or cash flow?  These are just a few questions you must first consider and discuss with your Realtor.

Have a significant deposit

With the new Canada Mortgage and Housing Corporation (CMHC) rules a 20 percent deposit is now mandatory if any other real estate is already owned.  Having 2o percent or more for deposit also prevents you from paying the CMHC insurance, provides a buffer if interest rates rise sharply, and will give you access to better loans as it shows the bank you are a safe bet.

Get your finances ready early

Get pre-approved right away so you don’t waste valuable time searching for a property you may not be able to afford. Shop around for the best rates and terms, and make sure there are no hidden surprises like huge penalty clauses if you pay out the loan early or decide to re-finance. Also make sure the term matches your investment strategy – you don’t want a 5 year mortgage term if you plan on renovating and selling the property in two years time.

Location, Location, Location

We’ve all heard the expression but for good reason.  Not all properties will give you the same return, neither will all locations.  If using a long term investment strategy what will happen to the area down the road?  Will there be any major infrastructure developments, introduction of social housing, or efforts to implement zoning changes? You will need to speak to local municipal councils, and government to find out what may be happening down the road.

Location is also key in ensuring you will be able to rent for good value in any market conditions. If four new high rises are being built nearby you may want to consider somewhere with less of an oversupply.

Who will your tenants be?

Fortunately for investors Vancouver’s vacancy rate has been extremely low in past years so tenants can’t be as picky as they may want to be.  However with the 2008 global recession and market downturn we saw that properties that sat on the market and were unable to sell were suddenly looking for tenants and the rental market shifted quickly even here.

It is smart to make sure an investment property appeals to a wide range of prospective tenants.  A studio in downtown Vancouver may seem like a great idea if only targeting single professionals or students, but perhaps a 1 bedroom and den in East Vancouver for the same price would serve you better. You would be able to attract the same demographic, as well as older couples, retirees, or young families.

Don’t buy without seeing it first

Wide angle lens and digital camera’s can make places look great ... unrealistically great.  The information given with the listing and on MLS is a good starting point, but needs to be verified and often inspected by you and your Realtor.  The marketing information also may not disclose important details. What’s next door or down the street? Can people on the skytrain see you in your living room? Take some time and visit the property and neighbourhood. A good Realtor should do this for you beforehand. 

Have an inspection done by a professional

You may have spoken to the neighbour or know someone in the building that says “everything is fine!” ... but be sure to do your due diligence. For approximately four hundred dollars you can greatly minimize your risk of buying a “lemon” or “leaker” and properly evaluate the quality of the property. As is often the case in Vancouver where many people live in condominiums, you as a homeowner are responsible for the maintenance of not just your unit, but have shared responsibility for the whole complex.  Roof, windows, boilers, garage, etc.  Don’t take the words of others as they may not know, have an inspection done before you remove the conditions of your offer.

Research the comparable properties

Knocking off 10 or 20 percent may seem like a reasonable idea but in reality may be unrealistic and cause you to let that great property slip through your grasp.   You need to have solid understanding of current values and know whether something is overpriced, underpriced, or asking a reasonable amount. 

Buying an investment property should be based on facts, not emotions. If the numbers don’t add up you have to be able to walk away. To know when to walk away you need to know what the property is worth and that is done by researching comparable sales.  The more similar the property and more recent the sale the better but a Realtor can show you how to find the best comparables and what strategy is best based on the situation.

Negotiate with your brain ... not your heart.

As you’re looking at the property as an investment and not a home be sure to leave you emotions behind when negotiating. As long as it meets your investment plan, is attractive to the rental market, and can give you the return you are looking to achieve it may be worth an offer.  Research the comparables to determine market value, and get your Realtor to advise a smart offer strategy. If you can’t reach a reasonable agreement walk away and try again on something else.

Work with professionals

Get expert advice from those that know the industry.  Speak to your accountant, lawyer, and a local Realtor.  You may not have the time of expertise to make all these decisions by yourself and do not want to make the mistake of overpaying or buying the wrong type of property.

To learn more about buying investment properties in Vancouver and making smart investment decisions contact Dean Wegman of Sutton West Coast Realty by clicking here.

Balanced conditions are emerging as sales have stabilized off the frenzied pace seen in late 2009; and inventory of unsold homes has come closer to demand which keep pressure off home prices.

Cameron Muir, the BC Real Estate Associations chief economist, anticipates prices to remain fairly flat due to the fact that the improving economy and job growth will be offset by affordability. Muir believes that buyer’s reduced ability to pay for real estate will be “the single biggest constraint in the market over the next few years.”

A balanced real estate market and “flattening” of home prices creates better opportunities for any Vancouver homebuyer’s.

To learn more about buying a home in Kitsilano click here

This is due to the fact that the HST will apply to all goods and services involved in leaky construction, including labour, which was not covered by the PST.

Previously buildings undergoing envelope repairs could apply for PST rebate once the work was completed saving thousands of dollars.  As of June 30^th this program will be terminated and HST enacted. 

A study put together two years ago by consultants McClanaghan & Associates estimated that approximately 44 to 55 percent of the 160,000 condominiums built in BC during 1992 -1999 experienced “premature envelope failure”.

The report when on further and estimated that between 45 and 68 percent of the leaky units had not yet been repaired; and that by 2010 up to a third of them would need to be repaired.

Due diligence by the homebuyer, working with a Realtor experienced in the area, and using a licensed home inspector are the best ways to avoid purchasing in a building that may experience envelope failure.

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Pet friendly building, one parking stall included with lots of in-suite storage.

In-suite laundry permitted with strata approval.

To see apartment photo's or arrange a private viewing click here

A few other interesting highlights regarding Vancouverites from the poll:

• 47 percent would invest in a condo mainly for rental income - the highest amount in the country.
• 45 percent cited affordability as the most common reason in buying a condo (24 percent nationwide), with less maintenance at 21 percent, and downsizing from a house at 15 percent as the two other top reasons
• 53 percent would buy a house over a condo if they had more money - highest nationwide
• 42 percent would most likely consider raising a family in a condo - 36 percent nationwide
• 31 percent would be willing to spend more than $400K for a 2 bedroom condo – 15 percent nationwide
• 8 percent would pay more than $400 a month in condo fees

The TD poll interviewed 200 people in each of the five major urban centers of Canada mid April this year.

Part of this can be attributed to the fact that a majority of the buyers that decided to take advantage of the improved affordability and low interest rates following the recession have now purchased their homes. New mortgage regulations and increasing interest rates are also making it more difficult for some home buyers to enter the housing market.

This will lead to less demand in the real estate market and with the occurring, expected, increase in seasonal inventory; take Vancouver from what has been a predominantly seller’s market into a more balanced market.

In more balanced market conditions there is less upwards pressure on home prices for several reasons. Fewer buyers’ mean that homes on average will spend more days on the market before being sold, they will sell at a price closer to what current market value dictates, and will sell less frequently in competing offer scenarios reducing inflated sales prices which new listings use to price their homes.  

It is expected that benchmark prices in Vancouver West will see incremental increases and decreases depending on the area and property type as the market stabilizes. Hot spots such as Kitsilano, Fairview, False creek, and downtown tend to be less susceptible to these price fluctuations unless experienced over a prolonged period of time. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,512 in April 2010, the fifth highest-selling April on record. The figure represents an increase of 18.5 per cent compared to the 2,963 sales in April 2009; 9.1 per cent more than April 2008’s 3,218 sales; and 3.7 per cent more than April 2007’s 3,387 sales. April 2010 sales also represent a 12 per cent increase compared to last month.

“We’re in the midst of another strong spring season thanks to high levels of activity on both the buyer and seller side of our market,” Jake Moldowan, REBGV president said. “The number of homes coming on the market has increased significantly in recent months, which is providing a healthy level of choice for those looking to buy during this busy period.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 7,648 in April 2010, a 64.5 per cent increase compared to April 2009 when 4,649 new units were listed, and a 9.2 per cent increase compared to March 2010 when 7,004 properties were added to the Multiple Listing Service® (MLS®).

At 15,901, the total number of property listings on the MLS® increased 17 per cent in April compared to last month, and is up 11 per cent compared to this time last year.

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 18.9 per cent to $593,419 from $499,021 in April 2009.

“It was at this time last year when home prices in our region began their recovery from the declines that occurred during the recession period,” Moldowan said.

Sales of detached properties in April 2010 reached 1,370, an increase of 15.1 per cent from the 1,190 detached sales recorded in April 2009 and a six per cent increase from the 1,293 units sold in April 2008. The benchmark price for detached properties increased 21.2 per cent from April 2009 to $818,403.

Sales of apartment properties reached 1,526 in April 2010, an increase of 29.4 per cent compared to the 1,179 sales in April 2009 and an increase of 15.9 per cent compared to the 1,317 sales in April 2008.The benchmark price of an apartment property increased 16.9 per cent from April 2009 to $397,779.

Attached property sales in April 2010 totalled 616, an increase of 3.7 per cent compared to the 594 sales in April 2009 and a 1.3 per cent increase from the 608 attached properties sold in April 2008. The benchmark price of an attached unit increased 16.4 per cent between April 2009 and 2010 to $502,399.

Homebuyer’s

First time Home Buyer’s Property Transfer Tax Exemption

People buying a home in Vancouver or anywhere in BC are responsible for paying a property transfer tax (PTT). The amount is 1 percent on the first $200K, and 2 percent on the balance of the purchase price. This is by far the biggest expense typically in any re-sale home purchase.

First time buyers however may be eligible to qualify to buy tax free. Eligibility requirements include having never been “on title” or owning a previous home anywhere in the world, a maximum price of $425,000 for the full exemption, and the down payment cannot exceed 3 percent.

To learn more visit http://www.sbr.gov.bc.ca/individuals/property_taxes/property_transfer_tax/first_time_home_buyer.htm.

Homeowners correcting a conveyancing error no longer pay the PTT on land transfers.    Transfers required to amend a strata plan are exempt, except where owners receive an increased interest. Then the PTT becomes payable on the interest.

First Time Buyer’s Tax Credit

Qualifying home buyer’s can claim up to $750 under this federal program

Home Buyer’s Plan

RRSP’s

Qualifying home buyers can withdraw up to $25,000 for their down payment from their RRSP’s under this federal government program. Couples can withdraw $50,000.

Buying a NEW home

If a homebuyer purchased a NEW home before July 1, 2010:

• They can apply for a rebate of 5 percent GST applicable to the purchase price of $8750 for homes costing up to $350,000
• There is a proportional GST rebate for new homes costing between $350,000 and $450,000
• Newly constructed homes or substantially renovated homes completed by July 1, 2010 have the PST embedded in the cost of construction. Home buyers may qualify for a PST transitional rebate for specific types of non-grand parented residential properties.

Property tax help

BC Home Owner Grant

Home owners in BC can reduce property taxes up to $570 for homes assessed up to $950,000 under this provincial program. The grant is reduced on a sliding scale for homes assessed up to $1,064,000.

Seniors, veterans and disabled home owners can claim an additional $275 to a maximum of $845 for homes up to $950,000. The grant is reduced on a sliding scale for homes assessed up to $1,064,000.

Land Tax Deferment

Home owners with children under the age of 18 may be eligible to defer their property taxes if they have at least 15 percent equity in their home. Deferred taxes are charged interest at the prime rate and are repayable when the home has sold.

Seniors and owners facing financial hardship may also be eligible to defer property taxes. Deferred taxes are charged interest at the prime rate and are repayable when the home has sold.

The menu breaks down into options of appetizers, stir fry’s, and curries and soups and can be ordered according to the amount of “heat” you can handle.  Think you can handle the spice ... try a 5 I dare ya!

Always super fresh, hot, and tasty do not be surprised to see more of these places popping up all over Canada soon!

According to industry and tax experts the homebuyer and seller will still pay more costs as the tax will apply to items like real estate fees, home inspections, appraisals and the cost of clearing title. Other increases will come in renovations, maintenance, upgrades, and moving expenses. It can add up, but is nowhere near the cost of what the HST would be.

For example with the purchase of a $450,000 resale home, there will be approximately $16,500 in closing costs for such things as appraisals, inspections, survey fees, and realtors fees. With the HST a buyer will pay approximately $1,100 more due to the new tax.   

Fortunately some of the services associated with the purchase of a re-sale property will not be affected.  Bank fees   - which are not subject to the GST and will not be subject to HST – and notary publics and lawyer’s fees which are already subject to GST and provincial sales tax which equal the same cost as the HST.

Will the HST have a significant effect on Vancouver’s resale real estate market? No, but it will have a little bite.

CIBC now will charge 5.24 per cent for a five-year closed mortgage and 7.20 per cent for a 10-year mortgage. New homebuyers at the Desjardins Group, which operates credit unions in Ontario and Quebec, will pay 6.25 per cent to borrow money for five years and 7.20 per cent for a 10-year mortgage.

Canada's banks are reacting to rising costs of borrowing money for five to 10 years.  Lenders have to raise their rates because it is starting to cost more to raise capital to fund mortgages within Canada's bond markets.

Overall the economy in BC is showing signs of growth. This should underpin demand for housing, which will likely be offset by rising interest rates. This expected to cool off Vancouver’s hot real estate market

Voted a top restaurant several times in local newspapers like The Georgia Straight, Westender, Where Magazine, Vancouver magazine, and many more.

$499,900
Ktisilano, Vancouver West
2 Bedroom, 1 Bathroom
822 Square Feet 

Beautiful garden level two bedroom in the heart of Kitsilano. Surrounded by lush gardens, great for entertaining with a huge, private patio off the living room with a second patio off the bedroom. Renovated kitchen and bathroom make this home ready to move in. Great community in this building and only steps to Capers, Safeway, Kits Wine Cellar etc., and three blocks to Kits Beach. 9 foot ceilings make this unit feel much larger.

One parking, one storage locker included, rentals at maximum, pets allowed with restrictions. 

For more photo's visit www.deanwegman.com

Open House Saturday April 24th & Sunday April 25th from 2:00-3:30pm

This unit faces north and is on ground level with a nice outdoor area of the living room. Another great feature is it's location close to all the amenities of West Broadway and W 4th yet still on a nice quiet residential street. Insuite - laundry a possibility with strata permission.

One parking, pets allowed, rentals at max.

Click here for more information or to set up an appointment.

•All borrowers must meet the standards for a five-year, fixed-rate mortgage, even if they choose a variable mortgage with a lower rate or a shorter term.

•The maximum Canadians can withdraw when refinancing their mortgages drops to 90 per cent of the value of their home, from 95 per cent.

•Buyers must make now a minimum 20 per cent down payment — up from five per cent — to qualify for Canada Mortgage and Housing Corp. insurance for non-owner-occupied properties purchased as an investment.

 Vancouver’s real estate market has rebounded sharply over the last 12 months with prices just recently  surpassing past benchmark‘s set in the spring of 2008. The new rules should slow things down come mid July once people’s pre-qualified mortgage periods start running out.    

Higher mortgage rates will squeeze some low equity buyer’s out of the real estate market. Big banks like the Royal Bank of Canada and Bank of Nova Scotia have already raised their fixed mortgage rates in anticipation of the new CMHC rules and regulations come into effect this month.  

 Though interest rates are the biggest threat to Vancouver’s real estate market rebound, they should only keep increasing if the economy keeps growing. As long as we keep experiencing economic growth people will continue to have jobs, incomes will be rising, and people will be able to afford higher interest rates.

A return to more balanced conditions would be welcomed by potential Vancouver home buyers after experiencing such a strong seller’s market during the last 10 months. A more balanced market will reduce the number of competing offer situations and allow buyer’s more negotiating room during the offer process.

The first time home buyers plan available to BC residents which makes getting into the real estate market more affordable can be a large benefit for those that qualify. Under the program buyers are allowed to use as much as $25,000 from there RRSP account toward a down payment on a qualifying home which is repaid over time.

There is also the first time home buyer’s tax credit worth up to $750 in 2009 and subsequent years.  At tax time you can direct any rebate toward your purchase.

The survey showed that 74 percent of Canadians that are looking to purchase their first home are considering an amortization of 25 years or less – much lower than the 35 year maximum.  Paying of a mortgage faster has become a priority for many Vancouverites.

Is the new federal new mortgage rule having much effect at all? Yes. Under it anybody qualifying must do so on the five year fixed rate ensuring that as rates increase they are in a better position to make their payments. The effect it is having is in slowing down market sales to more sustainable healthy levels.

Buyer’s trying to time the market in expectation of another dip may be waiting some time. Recent CMHC analysis and BC economists are anticipating the Vancovuer real estate market to move towards more balanced conditions as supply and demand come closer.  Price appreciation is expected to continue into 2011 but at a modest pace, not anywhere near the double digit levels seen during 2005-2008.

There were 3,198 new home construction projects recorded during the first quarter of 2010, a 76 percent increase from the same time last year.

The increase can be attributed to a strong re-sale market, improving economic conditions, and still relatively low interest rates.

In Vancouver single detached construction rebounded with the most strength.  

During the first quarter of this year the average price of a Vancouver east side condominium gained 29 percent, and the average detached bungalow 25 percent when compared to the first quarter of 2009.

An average Vancouver west side bungalow, which went as low as $950,000 in the first quarter of 2009, has risen back to an average of $1.15 million, a 21 percent gain, in the first quarter of this year.                          

With such sharp increases in prices broader economic growth becomes important.  Though price increases remain forecasted for the second quarter, higher mortgage interest rates and tighter qualifying rules should cool things down to more sustainable levels later this year.                 

Price increases in all markets across Canada are expected to ease in mid to late 2010.

Standout dishes include a variety of salad bowls including the Dragon Bowl pictured below, veggie burgers, rice bowls, and soups.  I'm getting hungry as a type this.

What some people may not know is that the Naam stays open 24/7.  Yep, you can hit the bars in Kits late into the morning and swing by the Naam for a fat plate of pancakes before finding your pillow.  If there is one restaurant that speaks to the history of Kits it has to be the Naam.  Swing by and dig in, just don't expect a white tablecloth.