Maria Mak - Burnaby Real Estate Agent - August 2013 Housing Market Update

Summer housing market remains active in Greater Vancouver August activity in the Greater Vancouver housing market finished well above last year’s pace and slightly below the 10-year average for the month. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,514 on the Multiple Listing Service® (MLS®) in August 2013. This  represents a 52.5 per cent increase compared to the 1,649 sales recorded in August 2012, and a 14.7 per cent decline compared to the 2,946 sales in July 2013. Last month’s sales were 4.6 per cent below the 10-year sales average for the month. “We’ve seen a healthy amount of demand in the marketplace this summer compared to the number of homes listed for sale,” Sandra Wyant, REBGV president said. “The market today is much stronger than we saw last year and is consistent with our long-term averages for this time of year.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,186 in August. This represents a 3.5 per cent increase compared to the 4,044 new listings reported in August 2012 and a 13.8 per cent decline from the 4,854 new listings in July of this year. The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 16,027, which is an 8.8 per cent decrease compared to August 2012 and a 3.6 per cent decline from July 2013. The sales-to-active-listings ratio currently sits at 15.7 per cent in Greater Vancouver. This ratio remains consistent with balanced market conditions. “People entering the market should not confuse stronger sales activity with rising prices. Home prices have been quite stable and consistent for much of this year,” Wyant said. The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,500. This represents a 1.3 per cent decline compared to August 2012 and an increase of 2.3 per cent since the beginning of 2013. Sales of detached properties reached 1,052 in August 2013, an increase of 69 per cent from the 624 detached sales recorded in August 2012, and a 3.1 per cent increase from the 1,020 units sold in August 2011. The benchmark price for detached properties decreased 2 per cent from August 2012 to $923,700. Sales of apartment properties reached 1,018 in August 2013, an increase of 40.4 per cent compared to the 725 sales in August 2012, and an increase of 6.6 per cent compared to the 955 sales in August 2011.  The benchmark price of an apartment property decreased 1.1 per cent from August 2012 to $366,100. Attached property sales in August 2013 totalled 444, an increase of 48 per cent compared to the 300 sales in August 2012, and a 10.2 per cent increase from the 403 attached properties sold in August 2011.  The benchmark price of an attached unit decreased 1.1 per cent between August 2012 and 2013 to $457,000. For all your premium real estate services, contact Maria Mak 604.839.6368 or visit her website www.mariamak.com , you'll be smiling too.

Maria Mak. Burnaby Realtor - Serving Metro Vancouver since 1989

Contact Maria Mak and her elite team @ Sutton Centre Realty @ 604-839-6368 or visit her websitewww.mariamak.com for latest housing marekt updates. THANK YOU .

Let Maria Mak. Burnaby REALTOR® market your home

It’s time for your REALTOR® to do their thing with a few old-fashioned, and some new-fashioned, marketing tools. The “For Sale” Sign

• Despite our leaps in technology, the “For Sale” sign continues to be an extremely effective way to advertise. Anybody responding to your sign is a solid lead because they’ve seen your home with their own eyes.

• Your REALTOR® may choose any or all of the following: classified ads in the newspaper (often with a photo), ads in real estate publications, property listings on cable television and good old-fashioned mail. Neighbourhood mailers can be incredibly effective.

• If you decide to have your home listed on a real estate Board’s MLS® System, you can also have your home advertised on http://www.REALTOR.ca, andhttp://www.mariamak.com ,  Canada’s most popular Internet research tool for residential real estate, and a big reason why over 85% of Canadians who search for a home start their search on the Internet.

• Your REALTOR® is part of an extensive community ofREALTORS® who collectively represent hundreds of eager buyers. REALTORS® can call other REALTORS®, who can call other REALTORS®, who can call other REALTORS®.

• A REALTOR® Open House is an efficient way to attractREALTORS® to see your home with their own eyes. If your home is perfect for one of their buyers, you can be sure they’ll rush right out and tell them! Your REALTOR® can organize everything and get the buzz started.

• Many buyers want to get a feel for your neighbourhood before they start working with a REALTOR®. That’s why Open Houses to the public are so important. They usually last a few hours on a Saturday or Sunday, and there are a few simple but important rules to follow.

• Make sure your home looks its finest

• Your best buyer may just walk in off the street!

• Most folks are decent, courteous and honest, but it’s wise to stash away jewelry, cameras and other small valuables. You can ask your REALTOR® to request a name and phone number from every visitor for added security.

• Is there an electrical cord somebody could trip on? Is there a chair that will collapse if somebody actually sits in it? Fix it, or lose it.

• Almost nobody’s dream home smells like smoked herring!

• You want people to feel relaxed and daydream that your home is their home. This just isn’t possible with you there. Go see a movie, or take your pets on a field trip.

• A “lock box” is a small, secure box that’s affixed to your front doorknob. It’s a mini safe with a key to your house inside.REALTORS® are given a combination to the lock box, so they can show your home to interested buyers.

• Be patient with visits. Hopefully they will lead to a great offer, soon.

Maria Mak. Burnaby Realtor. 604.839.6368

                                  

Contact Maria Mak and her team @ Sutton Centre Realty @ 604-839-6368 for all your premium professional real estate services or visit her website www.mariamak.com

Maria has been serving her clients in Metro Vancouver for over 25 years with a big heart and with a big smile .THANK YOU .