The trend remains out of  step with the positive economic information for BC.

• The tightening of the mortgage rules introduced by federal finance minister Flaherty mid 2012:
  
  1. has reduced the number of buyers at the entry level which in turn slowed the market at the higher priced levels
  2. and reduced the number of buyers in the $1 million plus price range.
• Buyers of Vancouver condos and houses alike, are hoping for prices to decrease, sellers expect prices to increase and both are waiting for their hope or expectation to be realized. These opposite sentiments continue to negatively affect the number of sales.
• BUT
  

  -1. This may be a good time to buy your new Vancouver condo if you are looking to buy only or looking to move up substantially.
  -2. If you are moving sideways in price the state of the market is immaterial. Now is as good a time as any.
  -3.  If you intend to sell only or to scale down substantially, now may not be the best time depending on your economic expectations for the immediate future.

Below are the statistics compiled by the Real Estate Board as per 2 May 2013.

• Spring brings a more balanced market
• The number of sales of residential properties in general decreased by 6.1%  in April 2013 compared to the previous April and increased by 11.9% compared to March 2013
• The number of sales of Vancouver condos declined by 11.6%.
• The composite benchmark price for all types of residential properties in Greater Vancouver declined by 3.9% in April 2013 compared to April 2012 and increased by 1.6% compared to January 2013
• The benchmark price of a Vancouver condo dropped by 2.6% in the last year but increased by 2.1% compared to January 2013.
• New listings for all residential properties in Greater Vancouver declined by 3% compared to the previous April
• The total number of listings was 1.2% higher than in April 2012 and 8.2% higher than in the previous month.
• In April 2013, 5.8% more Vancouver townhomes sold than one year earlier.
• The benchmark price of Vancouver townhomes declined by 3.5% over 12 months and increased by 1.2% since January 2013.

Click on Market trends for the complete most recent real estate update by the REBGV.

• In September 2012 "The Westerly" was launched in Kitsilano on W Broadway near Alma. Completion March 2014. The 24 one and two bedroom condos range in price from $330,000 to $585,000. Contact me for details. Other Kitsilano pre-sale suites are at Bayswater at 2468 Bayswater Street and at Kitswest at 2858 W 4th Ave.
•  Pre-sale apartments are available in Downtown in MADDOX at 738 Rolston, in The Rolston at 625 Rolston and in 999 at 999 Seymour.
  Newly completed apartments are for sale in The Private Residences at The Hotel Georgia at 667 Howe and in Cosmos at 161 W Georgia.
• Newly completed apartments are available in the last waterfront building built in Coal Harbour Three Harbour Green at 277 Thurlow.
  Re-sales of newer apartments are available in West Pender Place (1409, 1477 and 1499 W Pender Street) and the Fairmont Pacific Rim Estates at 1011 W Cordova Street. Many of these properties have great water views.
• In Yaletown pre-sale suites are available in The Mark at 1372 Seymour and recently completed apartments (2011) are for sale in Richards Living at 1088 Richards.
•  In West Vancouver condos and townhomes are available at Evelyn at 866 Arthur Erickson Place, 888 Arthur Erickson Place and 918 E Keith Road. Completion will be in 2013 and 2014.
• In the West End newer apartments are for sale in Patina at 1028 Barclay. See picture above.
• Recently completed North Vancouver condos are for sale in The Kimpton at 210 W 13th Street and in Anderson Walk at 159 W 22nd Street. Pre-sale freehold condos are available in The Drive 1177 at 1177 Marine Drive and in Capstone at 135 W 2nd Street.

Contact me if you like to receive further information about new and newer properties. Condos for sale in new developments are often not on MLS but I have information about these developments.

I have successfully sold real estate since 1991 and specialize in luxury and investment condos. I am a leading REMAX realtor and look forward to assisting you in realizing your goals and dreams. 

Take your first step to buying or selling your Vancouver condo by contacting me now!

 Christine Louw, B.A., LL.B.    

phone: 604 926 3936
email: vancouvercondos@shaw.ca

• REMAX Hall of Fame
• REMAX Lifetime Achievement Award
• Transnational Relocation Certified Realtor ®
• Specialist in Luxury Homes and Investment Properties