Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

Categories
RSS

Great news for First-Time Home Buyers this week:


The BC government has just announced that, effective February 19th, 2014, all qualifying First-Time Home Buyers are eligible for savings on their purchase of a home valued at $475,000 or less. Previously, the maximum home value to qualify for these incentives was only $425,000. With this increase, an anticipated 1,700 additional first-time home buyers every year will be eligible to save up to $7,500 in Property Transfer Tax (PTT). PTT is calculated at a rate of one percent on the first $200,000 and two percent on the balance of the purchase price. 

 

To access more information about the BC Government's annual provincial budget and the associated changes to the PTT First-Time Home Buyer's Exemption Program, go to: http://www.bcbudget.gov.bc.ca/2014/default.htm


For an overview of the 2014 Provincial budget, click here. 


If you are looking for a home in the Burnaby, New Westminster, Coquitlam and Surrey areas of Greater Vancouver do not hesitate to contact me as now is even a better time to start your search.

Read

Steady trends continue in the Greater Vancouver housing market. The first month of 2014 saw home sale and listing totals outpace historical averages in the Greater Vancouver housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,760 on the Multiple Listing Service® (MLS®) in January 2014. This represents a 30.3 per cent increase compared to the 1,351 sales recorded in January 2013, and a 9.9 per cent decline compared to the 1,953 sales in December 2013.  

 

Last month’s sales were 7.2 per cent above the 10-year sales average for the month.  “The Greater Vancouver housing market has been in a balanced market for nearly a year. This has meant steady home sale and listing activity accompanied by stable home prices,” Sandra Wyant, REBGV president said.   New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,345 in January. This represents a 4.2 per cent increase compared to the 5,128 new listings reported in January 2013.   Last month’s new listing count was 17.7 per cent higher than the region’s 10-year new listing average for the month.  The total number of properties currently listed for sale on the Greater Vancouver MLS® is 12,602, a 4.9 per cent decline compared to January 2013 and a nine per cent increase compared to December 2013.  

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $606,800. This represents a 3.2 per cent increase compared to January 2013.   With the sales-to-active-listings ratio at 14 per cent, the region remains in balanced market territory.  “If you’re looking to sell your home in a balanced market, it’s critical that your list price is reflective of current market conditions,” Wyant said.  

 

Sales of detached properties in January 2014 reached 728, an increase of 34.3 per cent from the 542 detached sales recorded in January 2013, and a 10.5 per cent increase from the 659 units sold in January 2012. The benchmark price for a detached property in Greater Vancouver increased 3.2 per cent from January 2013 to $929,700.  

 

Sales of apartment properties reached 753 in January 2014, an increase of 30.7 per cent compared to the 576 sales in January 2013, and an increase of 14.6 per cent compared to the 657 sales in January 2012. The benchmark price of an apartment property increased 3.7 per cent from January 2013 to $371,500.  

 

Attached property sales in January 2014 totalled 279, an increase of 19.7 per cent compared to the 233 sales in January 2013, and a 6.9 per cent increase from the 261 attached properties sold in January 2012. The benchmark price of an attached unit increased 1.7 per cent between January 2013 and 2014 to $457,700. 

 

If you would like detailed statistics for a specific kind of property in any REBGV city and/or neigbourhood please contact me and I can send to you at your convenience.

Read
Categories:   Abbotsford West, Abbotsford Real Estate | Brentwood Park, Burnaby North Real Estate | Brighouse, Richmond Real Estate | Burnaby | Burnaby Real Estate | Burnaby South Real Estate | Cape Horn, Coquitlam Real Estate | Cariboo, Burnaby North Real Estate | Central BN, Burnaby North Real Estate | Central Coquitlam, Coquitlam | Central Coquitlam, Coquitlam Real Estate | Champlain Heights, Vancouver East | Champlain Heights, Vancouver East Real Estate | Cloverdale BC, Cloverdale Real Estate | Cloverdale BC, Surrey Real Estate | Cloverdale Real Estate | Coal Harbour, Vancouver West Real Estate | Coaquitlam | College Park PM, Port Moody Real Estate | Collingwood VE, Vancouver East Real Estate | Coquitlam | Coquitlam West, Coquitlam Real Estate | Downtown NW, New Westminster Real Estate | Downtown VW, Vancouver West | Downtown VW, Vancouver West Real Estate | Eagleridge, Coquitlam Real Estate | False Creek North, Vancouver West | Fraserview NW, New Westminster | Fraserview NW, New Westminster Real Estate | Fraserview VE, Vancouver East Real Estate | GlenBrooke North, New Westminster Real Estate | Grandview Surrey, Surrey Real Estate | Harrison Hot Springs Real Estate | Hastings, Vancouver East Real Estate | Highgate, Burnaby South Real Estate | Hockaday, Coquitlam Real Estate | January 2014 Sales in Greater Vancouver | Metrotown, Burnaby South Real Estate | New Horizons, Coquitlam Real Estate | New Westminster Real Estate | Port Moody | Port Moody Real Estate | Quay, New Westminster Real Estate | Queensborough, New Westminster Real Estate | Richmond Real Estate | Riverdale RI, Richmond Real Estate | Riverwood, Port Coquitlam Real Estate | Sapperton, New Westminster Real Estate | Simon Fraser Univer., Burnaby North Real Estate | Surrey | The Heights NW, New Westminster | The Heights NW, New Westminster Real Estate | Tsawwassen Central, Tsawwassen Real Estate | Uptown NW, New Westminster Real Estate | Uptown, New Westminster Real Estate | Vancouver | Vancouver East Real Estate | Videocast of January 2014 sales | Walnut Grove, Langley Real Estate | West Central, Maple Ridge Real Estate | West End VW, Vancouver West Real Estate | Whalley, North Surrey Real Estate | Whalley, Surrey Real Estate | Willoughby Heights, Langley Real Estate
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.