WAYNE W. KINNA

SRES® | REALTOR®

Direct: (604) 290-2621 |

The Greater Vancouver housing market experienced below average home sale totals, typical home listing activity and modest declines in home prices in 2012.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2012 reached 25,032, a 22.7 per cent decline from the 32,387 sales recorded in 2011, and an 18.2 per cent decrease from the 30,595 residential sales in 2010. Last year’s home sale total was 25.7 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 declined 2 per cent in 2012 to 58,379 compared to the 59,539 properties listed in 2011. Looking back further, last year’s total represents a 0.6 per cent increase compared to the 58,009 residential properties listed in 2010. Last year’s listing total was 6.1 per cent above the ten-year average for annual MLS® property listings in the region.

 

"For much of 2012 we saw a collective hesitation on the part of buyers and sellers in the Greater Vancouver housing market. This behavior was reflected in lower than average home sale activity and modest fluctuations in home prices,” Eugen Klein, REBGV president said.

 

Residential property sales in Greater Vancouver totalled 1,142 in December 2012, a decrease of 31.1 per cent from the 1,658 sales recorded in December 2011 and a 32.3 per cent decline compared to November 2012 when 1,686 home sales occurred.

 

December sales were 38.4 per cent below the 10-year December sales average of 1,855.

Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 5.8 per cent to $590,800. This represents a 2.3 per cent decline when compared to this time last year.

 

“We saw home prices come down a bit during the latter half of the year. During the same period, we saw fewer home sales and listings,” Klein said.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,380 in December 2012. This represents a 15.3 per cent decline compared to the 1,629 units listed in December 2011 and a 50 per cent decline compared to November 2012 when 2,758 properties were listed.

 

Sales of detached properties in December 2012 reached 425, a decrease of 32.5 per cent from the 630 detached sales recorded in December 2011, and a 44.7 per cent decrease from the 769 units sold in December 2010. The benchmark price for detached properties decreased 2.7 per cent from December 2011 to $904,200. Since reaching a peak in May, the benchmark price of a detached property has declined 6.5%.

 

Sales of apartment properties reached 504 in December 2012, a decline of 34.9 per cent compared to the 774 sales in December 2011, and a decrease of 37.9 per cent compared to the 811 sales in December 2010.The benchmark price of an apartment property decreased 1.9 per cent from December 2011 to $361,200. Since reaching a peak in May, the benchmark price of an apartment property has declined 12.8%.

 

Attached property sales in December 2012 totalled 213, a decline of 16.1 per cent compared to the 254 sales in December 2011, and a 33.2 per cent decrease from the 319 attached properties sold in December 2010. The benchmark price of an attached unit decreased 2.6 per cent between December 2011 and 2012 to $450,900. Since reaching a peak in April, the benchmark price of an attached property has declined 4.4%.

 

“Activity continues to vary depending on area so it’s important to work with your REALTOR® and other professionals to understand the trends in your area of interest,” Klein said.   



 

The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Board's area generating $1.03 billion in spin-offs. The Real Estate Board of Greater Vancouver is an association representing more than 9,400 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact Wayne W. Kinna at 604-290-2621 or waynekinna.com or email him at waynekinna@sutton.com.

 

copyright© real estate board of greater vancouver. all rights reserved.

Copyright © 2013 Sutton Group - Seafair Realty, All rights reserved.

 

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I have listed a new property at 1-5 9371 NO 5 RD in RICHMOND.
5 unit retail block with long term tenants: Doctor's office, Kong's Kitchen Chinese Take-Out, Salon Diva Hair Salon (2 units) & 99 Mart Convenience Store (also for sale), all neighboring a Liquor Store and the well known Kingswood Pub. Situated in a large townhouse area with hundreds of new units coming on the market just up the street. This is a solid investment showing an over 6% cap rate! Doctor pays $20. Square foot on 1 year renewable; all others are $18. Square foot with 5 year renewable. Note this is one, ground floor 4993 square foot Strata Lot rented as 5 units (not subdivide-able) & hairdresser has 2 units. The Strata Corporation's Manager manages the property other than tenant issues. The property is well maintained in an area of well maintained strata & detached family homes. The elementary School is 1/4 block away and that and the liquor store and Pub coupled with it being on No 5 Road, make this an excellent high traffic area for your investment dollars!
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I have listed a new property at 2 9371 NO 5 RD in RICHMOND.
99 MART is a well established convenience store in a high traffic area of Richmond on No 5 Road, next to the Kingswood Pub, a Liquor Store, Kong's Kitchen Chinese food take out, Salon Diva Hair Designs & a Family Doctor. With over 1,800 sq ft it has excellent potential to expand and, therefore, increase in value. The business license allows for a restaurant use and the current owner provides a limited but popular Tandoori Deli & Samosa variety. The location in Richmond's Ironwood residential area is a growing vibrant community surrounded by condominiums, townhouses & single famiy homes, churches & the Kingswood Elementary School is 1/4 block away. Opportunity Knocks on this one so don't delay!
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Please visit our Open House at 5440 LACKNER CREST in Richmond.
Open House on Sunday, October 14, 2012 2:00 pm - 4:00 pm
A SHOWSTOPPER in desirable Lackner area!! Gleaming hardwood & ceramic tile throughout with a sky lit entry hall and a Cinderella stair case to the second floor landing leading to 3 spacious bedrooms, a gorgeous sky lit ensuite & a huge gam es room with a wet bar. The Main Floor flows perfectly to lovely living to the left , separate formal dining room to the right and a spectacular New Kitchen with stainless steel appliances and breakfast area with an adjoining Family Room with exquisite French doors providing a perfect gateway to your private low maintance entertaining or relaxing backyard. Sit amongst the roses with this "move in" ready, one owner home. Walking distance to Jessie Wowk Elementary, Christian School and Steveston London Secondary.
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Please visit our Open House at 5440 LACKNER CREST in Richmond.
Open House on Saturday, September 15, 2012 2:00 pm - 4:00 pm
A SHOWSTOPPER in desirable Lackner area!! Gleaming hardwood & ceramic tile throughout with a sky lit entry hall and a Cinderella stair case to the second floor landing leading to 3 spacious bedrooms, a gorgeous sky lit ensuite & a huge gam es room with a wet bar. The Main Floor flows perfectly to lovely living to the left , separate formal dining room to the right and a spectacular New Kitchen with stainless steel appliances and breakfast area with an adjoining Family Room with exquisite French doors providing a perfect gateway to your private low maintance entertaining or relaxing backyard. Sit amongst the roses with this "move in" ready, one owner home. Walking distance to Jessie Wowk Elementary, Christian School and Steveston London Secondary.
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Please visit our Open House at 5440 LACKNER CREST in Richmond.
Open House on Sunday, August 26, 2012 2:00 pm - 4:00 pm
A SHOWSTOPPER in desirable Lackner area!! Gleaming hardwood & ceramic tile throughout with a sky lit entry hall and a Cinderella stair case to the second floor landing leading to 3 spacious bedrooms, a gorgeous sky lit ensuite & a huge gam es room with a wet bar. The Main Floor flows perfectly to lovely living to the left , separate formal dining room to the right and a spectacular New Kitchen with stainless steel appliances and breakfast area with an adjoining Family Room with exquisite French doors providing a perfect gateway to your private low maintance entertaining or relaxing backyard. Sit amongst the roses with this "move in" ready, one owner home. Walking distance to Jessie Wowk Elementary, Christian School and Steveston London Secondary.
Read full post

Please visit our Open House at 5440 LACKNER CREST in Richmond.
Open House on Saturday, August 18, 2012 2:00 pm - 4:00 pm
A SHOWSTOPPER in desirable Lackner area!! Gleaming hardwood & ceramic tile throughout with a sky lit entry hall and a Cinderella stair case to the second floor landing leading to 3 spacious bedrooms, a gorgeous sky lit ensuite & a huge gam es room with a wet bar. The Main Floor flows perfectly to lovely living to the left , separate formal dining room to the right and a spectacular New Kitchen with stainless steel appliances and breakfast area with an adjoining Family Room with exquisite French doors providing a perfect gateway to your private low maintance entertaining or relaxing backyard. Sit amongst the roses with this "move in" ready, one owner home. Walking distance to Jessie Wowk Elementary, Christian School and Steveston London Secondary.
Read full post

Please visit our Open House at 5440 LACKNER CREST in Richmond.
Open House on Sunday, August 12, 2012 2:00 pm - 4:00 pm
A SHOWSTOPPER in desirable Lackner area!! Gleaming hardwood & ceramic tile throughout with a sky lit entry hall and a Cinderella stair case to the second floor landing leading to 3 spacious bedrooms, a gorgeous sky lit ensuite & a huge gam es room with a wet bar. The Main Floor flows perfectly to lovely living to the left , separate formal dining room to the right and a spectacular New Kitchen with stainless steel appliances and breakfast area with an adjoining Family Room with exquisite French doors providing a perfect gateway to your private low maintance entertaining or relaxing backyard. Sit amongst the roses with this "move in" ready, one owner home. Walking distance to Jessie Wowk Elementary, Christian School and Steveston London Secondary.
Read full post

I have listed a new property at 5440 LACKNER CREST in Richmond.
A SHOWSTOPPER in desirable Lackner area!! Gleaming hardwood & ceramic tile throughout with a sky lit entry hall and a Cinderella stair case to the second floor landing leading to 3 spacious bedrooms, a gorgeous sky lit ensuite & a huge gam es room with a wet bar. The Main Floor flows perfectly to lovely living to the left , separate formal dining room to the right and a spectacular New Kitchen with stainless steel appliances and breakfast area with an adjoining Family Room with exquisite French doors providing a perfect gateway to your private low maintance entertaining or relaxing backyard. Sit amongst the roses with this "move in" ready, one owner home. Walking distance to Jessie Wowk Elementary, Christian School and Steveston London Secondary.
Read full post

Please visit our Open House at 5440 LACKNER CREST in Richmond.
Open House on Saturday, August 11, 2012 2:00 pm - 4:00 pm
A SHOWSTOPPER in desirable Lackner area!! Gleaming hardwood & ceramic tile throughout with a sky lit entry hall and a Cinderella stair case to the second floor landing leading to 3 spacious bedrooms, a gorgeous sky lit ensuite & a huge gam es room with a wet bar. The Main Floor flows perfectly to lovely living to the left , separate formal dining room to the right and a spectacular New Kitchen with stainless steel appliances and breakfast area with an adjoining Family Room with exquisite French doors providing a perfect gateway to your private low maintance entertaining or relaxing backyard. Sit amongst the roses with this "move in" ready, one owner home. Walking distance to Jessie Wowk Elementary, Christian School and Steveston London Secondary.
Read full post

I have listed a new property at 1-5 9371 NO 5 RD in RICHMOND.
5 unit retail block with long term tenants: Doctor's office, Kong's Kitchen Chinese Take-Out, Salon Diva Hair Salon (2 units) & 99 Mart Convenience Store (also for sale), next door to a Liquor Store and the well known Kingswood Pub. Situated in a large townhouse area with hundreds of new units coming on the market just up the street. A solid investment showing an over 7.30% cap rate!
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I have listed a new property at 9371 NO 5 RD in RICHMOND.
99 MART is a well established Convenience Store, next door to a liquor store and the Kingswood Pub! There is plenty of space to expand into other opportunities like a Sandwidh & Coffee bar or Deli in addition to the currnet products sold. It has a walk-in freezer, plenty of coolers and a "deli" cooler with counter top next to the cash register. The store was grossing in excess of $400,000 before the Pub burned down and with it re-opening this year the numbers are rising again and expected to exceed that number. ironwood is forever expanding with new developments with hundreds of new units going up at No. 5 & Steveston Hwy and the Pub & Liquor Store are a big attraction for the area.
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I have listed a new property at 7540 ANVIL CREST in Richmond.
Popular Quilchena area, large lot 6416 sf. Bright an d spacious 4 bedroom, 2.5 bath split level home located steps away from elementary school. Completely renovated with quality materials and workmanship. Featuring granite toiled foyer, hardwood flooring in living & dining room, kitchen with granite countertop, double glazed vinyl windows, nicely covered balcony off from master bedroom and new front loading washer and dryer. Excellent condition, must see to appreciate.
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I have sold a property at 22467 136TH AVE in Maple Ridge.
3 bedroom rancher situated on a half-acre lot backing onto undeveloped land with views of Golden Ears. Experience the charm of country living with the convenience of downtown Maple Ridge just five minutes away. Substantial renovationsrecently completed including updated spacious kitchen, new drywall, new bathroom with jetted tub, new laminate flooring throughout, new roof and soffits, new furnace, new hot water tank, new high efficiency wood burning stove and fresh Benjamin Moore paint throughout. Property features detached two-room garage and workshop with electricity, two stall barn, dog run, kennel, RV and/or boat parking. Quick access to Hwy. 7 and the new Golden Ears Bridge. Open Sun May 6, 2 to 4PM
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I have listed a new property at 4563 46B ST in Ladner.
MOVE IN AND RELAX! This nicely remodelled 4 bedroom family home has 3 full bathrooms, including a master bedroom ensuite, walk-in closet, large rooms throughout, bright sunny kitchen with adjoining sundeck, rich slate tile, hardwood,laminate, carpeting, separate recreation room is ideal for teens, new driveway, fresh paint, fully finished basement with 1 bedroom and it's own private rear garden deck
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I have listed a new property at 205 8040 BLUNDELL RD in Richmond.
A SHOWSTOPPER! A beautifully top to bottom remodelled 1 bedroom in a great building with all new flooring, a spectacular high quality new kitchen and appliances, huge pantry, equally as well done new bathroom, a walk through walk-in closetwith organizers, spacious master bedroom, a lovely living and dining room combination with kitchen pass thru and a huge balcony through sliding glass doors. On the quiet side of this popular building.
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Please visit our Open House at 22467 136TH AVE in Maple Ridge.
Open House on Sunday, May 6, 2012 2:00 pm - 4:00 pm
3 bedroom rancher situated on a half-acre lot backing onto undeveloped land with views of Golden Ears. Experience the charm of country living with the convenience of downtown Maple Ridge just five minutes away. Substantial renovationsrecently completed including updated spacious kitchen, new drywall, new bathroom with jetted tub, new laminate flooring throughout, new roof and soffits, new furnace, new hot water tank, new high efficiency wood burning stove and fresh Benjamin Moore paint throughout. Property features detached two-room garage and workshop with electricity, two stall barn, dog run, kennel, RV and/or boat parking. Quick access to Hwy. 7 and the new Golden Ears Bridge. Open Sun May 6, 2 to 4PM
Read full post

I have listed a new property at 22467 136TH AVE in Maple Ridge.
3 bedroom rancher situated on a half-acre lot backing onto undeveloped land with views of Golden Ears. Experience the charm of country living with the convenience of downtown Maple Ridge just five minutes away. Substantial renovationsrecently completed including updated spacious kitchen, new drywall, new bathroom with jetted tub, new laminate flooring throughout, new roof and soffits, new furnace, new hot water tank, new high efficiency wood burning stove and fresh Benjamin Moore paint throughout. Property features detached two-room garage and workshop with electricity, two stall barn, dog run, kennel, RV and/or boat parking. Quick access to Hwy. 7 and the new Golden Ears Bridge.
Read full post

Please visit our Open House at 205 8040 BLUNDELL RD in Richmond.
Open House on Sunday, April 1, 2012 2:00 pm - 4:00 pm
A SHOWSTOPPER! A beautifully top to bottom remodelled 1 bedroom in a great building with all new flooring, a spectacular high quality new kitchen & appliances, huge pantry, equally as well done new bathroom, a walk through walk-in closetwith organizers, spacious master bedroom, a lovely living & dining room combination with kitchen pass thru and huge balcony through sliding glass doors. On the quiet side of this popular building. OPEN Feb 12, 2012 12 to 4PM
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