Mike & Erik Rasmussen

"Professional Real Estate Service"

Mike 604.805.2086

Erik 604.782.3255

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

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While the summer market was better than in several years, the much-anticipated 'fall market' is finally here. September and October have historically been two of the busiest months of the year. There are still some unbelievable mortgage rates around, and maybe it's time to consider a move. Give me a call and I'll be happy to sit down with you and see if it's the right time for you.

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For months (if not years) I was dissatisfied with my old website, both in its content and its appearance. I looked at many options and decided that this format would best suit the needs of my clients and myself. I hope you are able to navigate through the many features this new site has to offer! Laughing

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