A Research Tool Provided by the Real Estate Board of Greater Vancouver
MLS® HPI Benchmark Price $997,000
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For the past 10 years, we have provided the Detached Sales To List Ratio as a part of our Weekly Report. This Ratio is based on the number of detached sales in the past 30 days divided by the current detached listing count. The number yielded helps us predict pricing trends. For instance, a figure below 12% for any sustained period of time suggests a buyer’s market and lower prices. A number between 12% and 19% indicates a balanced market with steady prices. And a number over 19%, as we saw between June 2020 and June 2022, shows a seller’s market and rising prices. This Week's Sales To List Ratio, 13%, supports the recent trend of a more balanced market. Where do we go from here? A lot depends on listings. If the supply stays low, the Ratio will likely remain in the teens. If the supply increases, the Ratio could fall into buyer’s market territory.
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A Material Latent Defect is a defect in a home or property that is not easily detected during a reasonable visual inspection, but which makes it dangerous, unfit for habitation, or unfit for a buyer’s purpose. For example, a hidden sink hole on the property poses a danger and would therefore be a Material Latent Defect. A rodent infestation renders a home uninhabitable and an illegal suite makes the home unsuitable for the buyer’s purpose, if they stated they needed it for revenue. Material Latent Defects may also include hidden defects which are expensive to remediate or gov’t Notices which require a problem to be addressed. To be fair, sellers are only responsible for disclosing Material Latent Defects they know about. And it’s easy to see how some may be reluctant to step forward with that sort of information. However, they and their agents are obligated by law to do so.
I have listed a new property at 5716 LOUISE WAY in Sechelt.
This Cascade Heights Gem is right across from a neighbourhood park! Lovely 3 bedroom, 2 bathroom rancher with family room. South facing rear yard with patio and garden shed. Vaulted ceilings, wood blinds, gas fireplace, natural gas outlet on the patio, extra parking in front. Very well cared for home and property situated in a great area with easy care landscaping. Just move in and enjoy!
I have listed a new property at LOT 2 REDROOFFS RD in Halfmoon Bay.
Incredible opportunity to acquire one of Sunshine Coast's magnificent water view estate properties. This 2.89 acre property borders scenic Kenyon Creek and is nestled above Sargents Bay. There is subdivision potential for two to three lots, yet maintaining as one property would truly be a special experience. Private rural feel yet just minutes to downtown Sechelt and close to so many local amenities. Build your private estate or subdivide and enjoy it for years to come.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.