CREA Housing Forecast – Vancouver Toronto Edmonton Calgary

Canadian Real Estate Forecast 2012

CREA recently released an updated housing forecast and it says prices will rise despite overall sales remaining steady.  The forecast is a prediction of home sales activity via the Multiple Listing Service® (MLS®)  Systems of Canadian real estate Boards and Associations for 2011 and 2012. Those listings are visible on the MLS.ca website.

Overall, nationally, sales across Canada’s MLS boards was stronger than expected and this has resulted in CREA revising their forecast for 2011 and 2012.  National MLS sales activity is forecast to reach 450,800 units in 2011, only a slight rise of about 1% from 2010. BC’s and Vancouvers 2011 sales forecast has been revised slightly higher as CREA believes home sales there may have bottomed out sooner than expected. CREA’s 2012 national sales forecast is that sales will ease .7 of a percent (447,700 units).

The average home price across Canada is forecast to rise 7.2% in 2011 to $363,500. This takes into account the strong price growth in Vancouver in the second quarter of 2011, and higher in prices in Toronto.

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Vancouver Luxury Homes

Million Dollar Homes in Vancouver – 豪华住宅温哥华

The Vancouver luxury home market is still thriving despite fears of a real estate bubble in the city. OverallVancouverhome prices rose $2500 in September and were up $31,200 over prices in September 2010. The rise is despite an increase in listings of 21% over numbers of August. Without those additional properties the prices would have been much higher.

News media are calling it a buyers market since the large listings give plenty of  properties to choose from. REGBV has reported new homes and condos on the Vancouver MLS increase to about 5,700 – the 3rd highest volume for September in the past 17 years. It’s uncertain as to what levels Chinese buyers are still involved in buying homes ( 豪华住宅温哥华 ) in the Vancouver market. Since China’s growth is still roaring at a staggering 10%, Chinese buyers will increasingly be able to buy Vancouver properties. Their influence in the next ten years could be profound. If the US double dip recession doesn’t occur, prices in Vancouver will likely rocket to record levels.  Prices of luxury homes will rise the most.

Economist Brian Yu of  Central 1 Credit predicts the median home price will increase 6.8% to $417,000 by the end of this year.  Yu says most Vancouver home buyers are living in their homes and that speculation is a very small percentage of the market. Yu predicts home buyers will hang onto their homes if a recession does happen. He further states that home sales will improve by 3.4% next year, driven by new home sales. He says resale home sales will decline.

Here is just a sampling of the million dollar homes which buyers and investors can purchase in Vancouver:

That makes it the ideal time to sell your Vancouver luxury home. Here are some of the homes of the 1400, million dollar homes available in North Vancouver, West Vancouver, Kitsilano, Surrey, Burnaby, Chilliwack, Coquitlam, Pitt Meadows, False Creek, Mackenzie Heights, Mount Pleasant, Oakridge, Dunbar, Coal Harbor, South Granville, Shawnessy, Yaletown, South Cambie, Dunbar, Fairview, and Downtown Vancouver.

485 CRAIGMOHR Dr West Vancouver is a 4 bedrooms, 4 bathroom  French Provincial style home with incredible panoramic views. The home is selling for $1599000. It boasts with 3,000 sq.ft. and 2 master bedrooms  and 2 kitchens.  The homes windows, roof and decks have all been recently updated. The back yard offers privacy and amazing views from the hot tub. Other luxury features include 11ft ceilings in the livingroom, French doors, jetted bathtub, and 2 fireplaces. See Annete Denk of Prudential Sussex Realty of West Vancouver about this property.

2328 JONES Ave North Vancouver is a 4 bedroom, 4 bath house selling for $1.058 Million dollars. This homes main floor has open concept living dining room areas with high ceilings, a fireplace and a cozy window seat to enjoy private front garden. It also features an open kitchen concept with eating area, and the family room has a fireplace.

5527 HUCKLEBERRY Lane North Vancouver is a renovated 4 bedroom 4 bath house selling for $1.088 Million dollars.  The home is location on a quiet cul-de-sac, and the property backs onto a beautiful greenbelt.  It features an open concept kitchen, large family, living and dining room. The basement has a bright above ground recreation room, an additional bedroom and bathroom and level access to the west facing private back yard. The living room has vaulted ceilings, a wood burning fireplace, and access to a multi-level deck. See Karim Virani of Virani Real Estate Advisors.

100 BONNYMUIR Drive, West Vancouveris a beautiful 3 bedroom, 2 bath house with nice views of North Vancouver. It is selling at $1.239 Million Dollars. It offers a large front & backyard space and a huge deck perfect for entertaining.  Upgrades include S/S appliances, large gourmet kitchen with granite countertops, a central Island. Also included are new bathrooms, and gleaming hardwood flooring through out. See Donna Este of Personal Real Estate about this property.

710 GREENWOOD Road West Vancouver is a 6 bedroom, 4 bathroom,  4100 sqft investment property selling for $1.938 Million Dollars.  If you’re looking for views of Vancouver, you can’t do much better than this home. It also boasts 18,300 sq ft of property. See Sam McCall of Personal Real Estate about this property.

187 STEVENS Drive West Vancouver is a sprawling post & beam home with 7  bedrooms & one bedroom in the pool house.  It is selling for $2.188 Million Dollars.  The 3/4 acre lot backs on the Capilano Golf & Country Club surrounded by beautiful old growth trees.  The 2,551 SF indoor pool-house, has a hot tub & sauna, and a large exterior deck for entertaining with a stunning mountain view. See Leonard Diaz  of Royal Lepage Westside about this home.

586 CRAIGMOHR Drive West Vancouver is a 5 bedroom, 4 bath home selling for $1.4998 Million dollars. The home offers stunning views from Grouse Mountain to Stanley Park . It is private, natural setting, large balcony & deck. See Daisy Ye  of Personal Real Estate in West Vancouver about this home.

1170 OTTABURN Road West Vancouver is a 4500 square foot home with 5 bedrooms and 3 baths selling for $1.288 Million dollars.  See Matthew H Kuras  of  The Residential Group Realty about this home.

5344 CLIFFRIDGE Ave North Vancouver is a 3 bedroom, 4 bathroom home in Canyon Heights selling for $1.385 Million Dollars.  This beautiful home features vaulted ceilings, beams, corner abutment windows, lots of natural light large main floor living space, a full complete basement.  See Eric Fremont Sutton GroupWest Coast Realty in North Vancouver.

1035 MILLSTREAM Road, West Vancouver is a 7 Bedroom, 5 bathroom home offering a panoramic 200 degree southern unobstructed ocean and city view.  It has an asking price of  $2.488 Million Dollars. Ask Rupinder Jassal of Royal Pacific Realty Corp about this home.

2682 FINCH HL, West Vancouver is a 6 bedroom, 7 bath room mansion on a 16000+ square foot lot with great views of Stanley Park, Lion’s Gate Bridge & Downtown Vancouver. It offers 7300 square feet of living living space and with high ceilings, large windows & skylights. The new owners will enjoy a custom chef’s kitchen, breakfast bar, and an amazing media room.   See Julia Lau of Personal Real Estate in West Vancouver about this home for sale.

The most expensive home in West Vancouver is 2190 CAMELOT Ave. This investment property will come with a custom built 21000 square foot, 6 bedroom, 8 bathroom home with a limitless pool. The asking price is $39.999 Million dollars. This Camelot Ave property is located at the top of 21st Ave in West Vancouver overlooking downtown, the Lower Mainland, and Vancouver Island. The 5.44 acres covers 3 legal lots & has beautiful tall trees. See Charles Bilash  of Personal Real Estate about this property.

Good luck with your search for Vancouver luxury homes.  If you’re having difficult finding a competent and trustworthy Vancouver real estate, please leave your message here.

Vancouver Home Listings – Another Strong Year in Sales?

Vancouver Listed versus Solds

Are we on the cusp of another record breaking April/May/June/July?

Here’s a graph that shows how listings increased last year, and they’re on the same path this year. Units sold is up strongly in March 2011.

Find out more about the Vancouver Real Estate market and about how real estate agents can improve their online visibility.

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