Category: Blog

Statistical view of Vancouver Real Estate in 2017

With the end of 2017, let’s look at the performance of Vancouver Real Estate market from a statistical point of view. Total dollar volumes, median sales price and new listings will be discussed here.

Although these numbers will not give you an exact idea of where the market stands currently, but it will showcase the overall summary of the year and will allow you to predict the trends heading into 2018.

Detached total Dollar Volume:

The dollar volume describes the total amount spent of purchases in Real Estate. According to stats, Vancouver’s total detached dollar volume was $6.4 billion in 2017, which is down from $8.6 billion from the previous year (2016) and it shows a 25% decline in the total Volume. This is further shown in the graph below.

 

Total Detached Sales:

2017 showed a significant cut down in detached sales which totaled 2,434. The number of sales in 2015 were 3,946, and it was 3,059 in 2016 so this year’s sales were 20% less from the prior year’s sales. A graph showing sales from 1998 to 2017 is as follows:

 

Total New Listings for 2017:

As you can see from the above statistics, 2017 was not the best year for Vancouver Real Estate but the downfall is not that significant and for the new listings that occurred in 2017, we saw a nominal 9% decline from the previous year. 2017 total listings totaled 5,578 which were 6,156 in 2016 and a graph showing the total listings from 1998 to 2017 is as follows:

 

Vancouver Condo Prices:

There was a significant in a Vancouver condo’s average sale price and median sales price. Average sales price increased by 13% to $849,712, while the median sales price saw an increase of 18% which totaled $695,000. A graph illustrating the stats from 1998 to 2107 is as follows:

 

Summary:

The key take away from the stats shown above is the new listings which was almost record low levels in 2017 and the only reason for that could be the rising prices so every wants to hold on and wait for a better price to sell. The largest price increases might be behind us, so we should expect a steady market in 2018.…

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Top 3 Paint Colors That Will Make Your Home Irresistible to Buyers

So you know that you want to sell your home as soon as possible, but there is one step you haven’t taken in guaranteeing maximum returns and that is a great paint job. They say that first impressions are everything, and for good reason too. Think about it, the first thing a buyer sees is the color of your home, so make it effective and impressive. Check out the following colors and count your dollars as soon as it sells.

 

#1 WHITE

Although this is playing it safe, we can honestly say it might be one of the best ways to go. A white house is a crowd pleaser and makes your home look bigger, bringing light to a possibly shady and green area as well as generally looking clean and attractive.

 

#2 EARTHY TONES

Tan, brown, orange and even red can be very appealing colors when it comes to your homes exterior. These colors play well with greens and definitely associate with nature and you can complement the exterior by adding coffee toned wood paneling on the inside of the home.

 

#3 GRAYSCALE

Bringing elegance and refinement, gray tones will also translate to urban sophistication. If you keep with the gray colors on the inside of your home, you can take a leap of faith and add some bright furniture to bring out your trendy vibes.

There you have it friends! Now it’s up to you to get to the paint shop and consider which is the best color for you.…

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5 Best Vancouver Suburbs to Buy a House in 2017

Today we are bringing you the best suburbs to purchase your next home in when it comes to Vancouver. We take a look at all factors including safety, schooling, night life, shopping, employment and average price change on a yearly basis.

 

#1 Renfrew, Vancouver East

This is an area that is well known for the great community that it encompasses, compete with great schools, new buildings and reasonable prices.

 

#2 Vancouver Heights, Burnaby

You can get a glorious view of the city without the huge price tag that is often found in West Vancouver. The price change in the past five years has increased by over fifty percent which is fantastic for home owners.

 

#3 Hastings, Vancouver East

Hastings has really transformed in the past ten years offering the community members a fun night life, eclectic shops and excellent restaurants whilst still not transforming with the price tags of the homes available for purchase. The great thing about this suburbs is that there are a lot of spare locations that are undeveloped which gives great potential for appreciation in the future.

 

#4 Bentwood Park, Burnaby

There is a great amount of homes that are move in ready for potential buyers along with older homes that also have older homes which can be improved. The fantastic aspect of this area is that you can walk everywhere and the community is safe, which goes hand in hand with the incredibly schools on offer.

 

#5 Ambleside, West Vancouver

This is definitely one of the best places to purchase a home within Vancouver. In the past five years house values have risen over 75%m which is just amazing. The surrounding areas have homes that are approximately half a million dollars more expensive on average than the ones you find at Ambleside.

These are the best suburbs that you can find in terms of real estate when it comes to Vancouver. We think that you should check them out next time you are looking for your new home.…

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Increasing the Cost of Your Home in 5 Simple Steps

If you are thinking of putting your home on the market in the foreseeable future there are some steps that you can take in order to do this. Have a look at these five tips that will help you skyrocket that going price.

 

 

 

#1 HAPPY HUES

One of the cheapest and simplest ways to freshen your home up and make an instant improvement is by throwing a new splash of paint on it. Neutral hues tend to appeal to a larger audience, however do not shy away from a feature wall here and there to spice things up. This will bring up the value of your home from 1% to 3% at minimal out of pocket expenses.

 

#2 KITCHEN RETURNS

The best place to start when it comes to home improvements is your kitchen as this will see the biggest return of the lot. No matter how big or small your improvement is, from a stained counter to a rusty and dated refrigerator this will make for huge value when the big day comes, increasing your homes potential value from 3% to 7%.

 

#3 LEAVE THEM FLOORED

Have a look at investing in new soft flooring, investing in a new carpet or rug. Stained or ragged carpets will hugely impact on someone’s impression of your home. Always remember that you don’t need to purchase new items all the time so have a look online for some thrifty items.

 

#4 DECLUTTER

Clutter equals mess. This doesn’t mean that you have to remove every single item from your home, but keeping things to a minimum is vital. It is important to note that not all clients enjoy your hobbies, pets or religions. This could potentially mean that you can have a 3% to 5% higher return than you otherwise would have.

 

#5 CURB YOUR ENTHUSIASM

There is nothing like a first impression leaving a lasting impact. It is also very hard to recover from a bad first impression and means you will have to work much harder to fix that. Clean up your yard and garden, keep your lawn tidy and replace that rusty mailbox. Taking pride in your exterior can bring about a potential return of 2% to 5%.

This is just the starting point to increasing the value of your home, but it is the start and you will be well on your way to a great sale by simply adapting a few of these.…

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