market info: Buyer demand remains strong while home listings increase - 10/11/09 11:57 PM
VANCOUVER, B.C. - October 2, 2009
- Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded.
"As homes sales in Greater Vancouver continued at an elevated pace in September it's encouraging to see that more … (0 comments)

market info: Market conditions drive strong June housing sales - 07/03/09 09:37 PM
VANCOUVER, B.C. – July 3, 2009 – The combination of low interest rates and more affordable pricing helped propel Greater Vancouver home sale numbers to the second all-time highest total for the month of June. The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is just short of the record-breaking 4,333 sales which occurred in June 2005. New listings for detached, attached and apartment properties declined 17.9 per cent to 5,372 in June 2009 … (0 comments)

market info: West Vancouver Homes - The Q Report February 2009.02 - 03/09/09 01:47 AM
www.AlphonseQ.com
West Vancouver detached home prices in February 2009 were up 5.6% from last month, reaching a benchmark price of $1,232,469. The number of units sold in February increased by 22.7% over January, but fell short of February 2008 sales by 51.8%. The number of homes available for sale on the Multiple Listing Services was down 33.6% this February over last.
Statistical source: Real Estate Board of Greater Vancouver
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market info: Squamish Homes - The Q Report February 2009.02 - 03/09/09 01:42 AM
  www.AlphonseQ.com
Detached home sales in Squamish declined 38.5% from February of last year, as the average benchmark price fell 8.9% to $530,479. Inventory levels over this period fell 35.7%.
Squamish townhouse and condominium sales fell short of February 2008 sales by 79.2%. Inventory levels this February were down 12.9%, due, in large part, to the slowing of new building construction.
Statistical source: Real Estate Board of Greater Vancouver
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market info: North Vancouver Homes - The Q Report February 2009.02 - 03/09/09 01:39 AM

www.AlphonseQ.com
Detached Homes - At an average benchmark price of $739,856, February detached home prices declined 5.6% from January, and 16.1% from twelve months ago. The number of detached homes sold in February was up 283.3% from the low point reached in January, but down 43.2% from one year ago. The supply of detached homes on the market fell 6.6% from last February.
Townhouse benchmark prices averaged $535,646, down 13.6% from one year ago. February sales were down 65.7% over this period.
Condominium prices in North Vancouver declined 15.6% from February 2008, while sales fell 59.1%. The February inventory of condos … (0 comments)

market info: Home listings withdraw as sales volume slows - 02/05/09 01:53 PM
VANCOUVER, B.C. - February 3, 2009 - The first month of 2009 saw a continued reduction in the number of homes listed for sale in Greater Vancouver, while sales volumes in January were the lowest for that month since the early 1980s.The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties declined 58.1 per cent in January 2009 to 762 from the 1,819 sales recorded in January 2008.New listings for detached, attached and apartment properties declined 20.9 per cent to 3,700 in January 2009 compared to January 2008, when 4,675 new units were listed. … (0 comments)

market info: Federal budget offers good news for homebuyers and homeowners - The "Q" Report - 01/29/09 11:21 AM
www.AlphonseQ.com
VANCOUVER, B.C. - January 29, 2009 -Yesterday's federal budget offered a number of initiatives to benefit homebuyers and homeowners in our communities.
"The housing measures tabled in yesterday's budget will go a long way to addressing local economic uncertainties, consumer confidence and the quality of life in our neighbourhoods," said REBGV president Dave Watt. "Home sales are so important to our economy. Each time a home changes hands, the transaction generates significant spin-offs and jobs because homebuyers also purchase furniture, appliances, carpeting, and numerous other goods and services related to their homes."
The federal budget announced a new First-Time Home … (0 comments)

market info: North Vancouver Homes - The Q Report December 2008.12 - 01/19/09 01:37 AM
Detached homes - At an average benchmark price of $728,600, December detached home prices in North Vancouver were down 16.4% from twelve months ago. Current pricing is consistent with early 2006. The number of detached homes sold in 2008 declined 27.5% from 2007. Detached homes available for sale increased by 63.2% over last December.
Townhouse benchmark prices averaged $506,158, down 12.4% from one year ago. 2008 sales were down 32% from last year.
Condominium prices in North Vancouver are down 16.2% from December 2007, while 2008 sales have fallen 36.4% from last year. The December inventory of condos available for sale is … (0 comments)

market info: West Vancouver Homes - The Q Report December 2008.12 - 01/19/09 01:35 AM
West Vancouver detached home prices declined 12.8% from December of last year, reaching a benchmark price of $1,168,852. As the number of units sold in 2008 was down 38.3%, the number of detached homes available for sale fell by 4% this December over last.
Statistical source: Real Estate Board of Greater Vancouver
Published Sunday, January 18, 2009 2:38 PM by Alphonse Quenneville
www.AlphonseQ.com
 
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market info: Canadian Dollar has pros and cons - 11/12/08 01:10 PM
The "Q" Report 
The volatile movements in the value of the Canadian dollar have been breathtaking. The Canadian dollar has fallen because of the downturn, and now full recession, in the American economy. At first glance, this does not seem to follow logic. Equity & Real Estate Markets in the USA have crashed. Some American investors are being forced to liquidate their holdings (in Canadian and World Equities) and convert them back to American dollars. This movement of cash into American dollars is adding strength to the American dollar and causing other currencies to fall. This process has to, and will … (0 comments)

market info: Volatile Canadian Dollar and Real Estate - 11/12/08 01:07 PM
The "Q" Report 
The volatile movements in the value of the Canadian dollar have been breathtaking. The Canadian dollar has fallen because of the downturn, and now full recession, in the American economy. At first glance, this does not seem to follow logic. Equity & Real Estate Markets in the USA have crashed. Some American investors are being forced to liquidate their holdings (in Canadian and World Equities) and convert them back to American dollars. This movement of cash into American dollars is adding strength to the American dollar and causing other currencies to fall. This process has to, and will … (0 comments)

market info: Metro Vancouver Update - 11/12/08 12:55 PM
Metro Vancouver - The "Q" Report 

Metro Vancouver October year-to-date real estate sales continued to trend downward, falling 31.3% from this time last year. The number of overall listings available for sale in October has increased slightly. With a wide range of homes available for sale and moderating prices, thereʼs been a definite shift to a buyersʼ market.
Detached
home prices in Metro Vancouver have fallen

4.7% from October 2007, to an average benchmark price of $695,962. The number of detached homes sold October year-to-date fell by 34.2% from last year, while listings were up 5.9% over last October.
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market info: Our Leaders need a Chance - 11/12/08 12:51 PM
The "Q" Report 
We now have our new Canadian and American leaders elected. As Canadians, we ended up pretty much where we started. For Americans, there has been a total change of direction. Obama officially takes over in January amidst much optimism and anticipation. What Canadians and Americans need to understand is it will take time for Obama to achieve his goals. With the poor state of the economy in the U.S. a new President will require everyone's patience to move the country in the direction he has laid out, which will be no easy task.
www.AlphonseQ.com
 
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market info: People are still Planning on Moving & Buying in British Columbia - 11/03/08 10:43 PM
www.AlphonseQ.com - The "Q" Report
Sales in Metro Vancouver including West Vancouver Homes and North Vancouver Homes have slowed considerably and prices have reversed.  People are still planning on buying as indicated by Ipsos Reid. A new Ipsos Reid survey shows that the number of people who intend to buy is holding steady.
Sean Simpson of Ipsos Reid says "Home purchasing intentions in Canada are relatively stable. Nationally, they are down just one percentage point from when we asked the question in January and in British Columbia they are actually up one percentage point"
Ipsos Reid says 22% of Canadians are … (0 comments)

market info: Residential housing price decline creates buying opportunities - 11/03/08 09:34 PM
VANCOUVER, B.C. www.AlphonseQ.com  The "Q" Report
November 3, 2008 - Housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008.
 The Real Estate Board of Greater Vancouver (REBGV) reports that residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 8.8 per cent between May and October 2008, resulting in a 3.9 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between Octobers 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $518,668 in October 2008.
 "Home … (0 comments)

market info: Bank of Canada cuts the Prime Rate and TD Canada Trust follows suit - 10/08/08 02:10 PM
The "Q" Report
Rapidly deteriorating credit conditions in Canada and around the globe, has motivated the Bank of Canada to join the U.S. Federal Reserve, European Central Bank and three other central banks Wednesday in cutting interest rates by 50 basis points.
As a result, the Bank of Canada's benchmark lending rate stands at 2.5%. I expect that the Canadian central bank is not finished with rate reductions, with more reductions to come.
TD Canada Trust today announced that it has lowered its prime lending rate by 25 basis points to 4.50 per cent, effective October 9, 2008.  It is likely that the … (1 comments)

market info: Home prices adapt to affordability demands - 10/02/08 02:16 PM
News Release        
FOR IMMEDIATE RELEASE: www.AlphonseQ.com
 The "Q" Report
VANCOUVER, B.C. - September 2, 2008 - The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in September 2008 to 1,585 from the 2,776 sales recorded in September 2007.
New listings for detached, attached and apartment properties increased 28.8 per cent to 6,142 in September 2008 compared to September 2007, when 4,770 new units were listed.
"After five years of unprecedented increases, housing prices are beginning to realign," REBGV president, Dave Watt said.  "Although the economic situation in the United States … (0 comments)

market info: Interesting Price Comparison - 09/12/08 12:35 AM
Canada mirrors the U.S. in that its costliest markets are primarily situated on the West Coast. Vancouver, British Columbia, tops the Canadian list, with comparable four-bedroom homes averaging $1,257,000 U.S. dollars. The most affordable studied market in Canada is Charlottetown, Prince Edward Island ($157,000). The price difference between Vancouver and Charlottetown is a stunning $1,100,000.
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market info: Fall Outlook For Real Estate - The "Q" Report - 09/09/08 02:37 AM
After the U.S. election in November, all bets are off with respect to interest rates. The start of a new presidential term is typically when tough medicine is doled out to fix the economy. An upward draft in U.S. rates would come as no surprise. Iʼd recommend locking in your mortgage rate now for a minimum four year term, if an increase in mortgage rates could jeopardize your financial position. Uncertainty and lack of consumer confidence are having an impact on Real Estate and Equity Markets. The Toronto Stock Exchange's main index plunged over 470 points today, dragged lower by retreating … (0 comments)

market info: Bank of Canada Holds Steady on Key Interest Rate - The "Q" Report - 09/04/08 02:04 AM
 The Bank of Canada kept their overnight rate steady once again today although they appear prepared to reduce rates going forward. Falling oil and commodity prices are pointing to lower inflation and many analysts are talking about the end of the recent "commodity boom" which helped the Canadian economy but fueled inflation around the world. After the US election in November, all bets are off with respect to interest rates. While I am not predicting a jump in rates after the election early in 2009, the start of a new presidential term is typically when tough medicine is doled out to fix … (0 comments)

 
Alphonse J. Quenneville (Royal LePage Northshore)

Alphonse J. Quenneville

West Vancouver, BC

More about me…

Royal LePage Northshore

Address: 2407 Marine Drive, West Vancouver, BC, V7K 2R1

Office: (604) 926-6011

Mobile: (604) 328-2554

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Metro Vancouver market updates including North Vancouver Homes, & West Vancouver Homes.


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