Real Estate in Vancouver continues to be going strong. It appears that everyone in the world wants to live in Vancouver!
Here are the latest stats from June, 2011, for Vancouver:
SALES OF DETACHED (houses) totalled 1,471 (an increase of 29.1% from June 2010. The benchmark price for detached properties increased 13.4% from June 2010-11 to $901,680.
SALES OF ATTACHED (townhomes) reached 525 (an 8.7 % decrease from June 2010). The benchmark price for attached properties increased 6% between June 2010-11 to $522,424.
SALES OF APARTMENTS: reached 1,266, a 0.6% increase from June 2010. The benchmark price for apartments increased 3.5% from June 2010-11 to $405,200.
NEW LISTINGS for detached, attached and apartment properties in Greater Vancouver totalled 5,793 last month. This is 4.5% increase compared to June 2010.
THE TOTAL NUMBER OF LISTINGS ON MLS last month was 15,106 which represents a 3.1% increase from June 2010.
“The largest price increases continue to be on the Westside of Vancouver and in West Vancouver. Since the end of May, the benchmark price of a detached home rose more than $147,000 on the Westside of Vancouver and over $80,000 in West Vancouver. Detached home prices in Richmond, however, levelled off slightly, declining $25,000 in June.” Rosario Setticasi REBGV president said.
This is GREAT news for those who are homeowners.. Here are the current benchmark prices for Vancouver Westside. Brace yourself, as they are outrageously high!:
If you’re not a homeowner yet, don’t fret as you can go from being a tenant to a landlord, which is what a lot of families are opting to do. A house with a suite can generate rents from $1,000-1,500 per month. That represents a $400,000 mortgage! Some properties have 2 suites to rent, so this will definitely assist you with your mortgage! The current 5 year best fixed interest rate I’ve seen is 3.59%. I’ve helped a lot of families realize their dream of owning their own property. This could be possible for you as well. Ask me how...