Kerrisdale Homes In Vancouver

Kerrisdale old home Over the years, Kerrisdale single family detached homes enjoyed steady price gain as more home buyers seek out and buy homes that were for sale in the area. Generally, most detached homes in Kerrisdale, Vancouver have building lots from 6,500 to over 9,000 sq ft. View homes for sale in Vancouver West.

The smaller lots in Kerrisdale mostly have 33′ frontage and 120′ to 135′ deep. These homes in early 2000 were selling just around $300,000. Within 10 years, these homes with just around 4,000 sq ft lot were selling just over $1,000,000 – 3 times the price some 10 years ago.

At this time around August 2015, such homes are selling in the $1.7 to $1.8 million range. The price gain for single family homes in Kerrisdale can be considered very exceptional. Home owners are incredibly fortune to see such price gain over just 15 years. Such price gain is wide spread and the whole of Vancouver West benefitted with this spectacular rise in home prices.

The Cause For High Vancouver West Home Prices

It is simply basic economic,  supply-demand imbalance. There are far more demand since 2000 for detached homes in Kerrisdale and Vancouver West in general. With limited supply, home prices continued to gain in value over the years. View homes for sale in Vancouver West.

This trend is expected to continue as Vancouver is recognized to be one of the best city in the world. With stable political climate and a very free and open government, rich immigrants especially those from mainland China, are pouring in millions of dollars into real estate.

They are not only buying properties for their own to live in, they are also snatching up pricey properties as assets they can hold on for future generations. This trend is expected to continue as there are many more rich immigrants wanting to come to Vancouver. With jsut 11 hours flight time from any major cities in China and Hong Kong, Vancouver is like the backyard of rich people from China.

If you are planning to buy or sell your home in Vancouver West, you are welcome to contact James Wong & Associates at 604-721-4817, or email us.

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Comparing MLS® Listings Search: Rew.ca Vs Homelists.ca

When consumers are searching for homes that are listed for sale, getting around finding homes for sale using rew.ca provide a different experience. It all boils down to how familiar a home buyer or seller is with the rew.ca website.

Neighborhood Search

This is probably one of the most common search functions performed by a home buyer or seller. Rew.ca’s website will open the page with a ‘Search Bar”.

PROS & CONS: After typing in a neighborhood say Kerrisdale and selecting the price filters for homes between $2,000,000 to $3,000,000 and clicking the “Search Bar”, a list of homes for Kerrisdale meeting the criteria are displayed. The paid advertised listings appear on the top left column, and the regular listings appear at the bottom left of the page.

What’s lacking is the map location of the property. Many consumers would like to know the location of a home in relation to the major roads in the neighborhood.

The one good feature rew.ca provides to online visitors is the contact number of the Listing Agent of a particular home. This allows for easy and direct contact by a consumer with the agent to find out more info about a home he/she is interested. On the other hand, Realtors with Homelists.ca’s Reciprocity websites only connect the consumers to the agents of the websites they are using to find homes for sale.

 

Homelists.ca is designed purely for MLS® listings search. The website contains all the listings from the Three(3) local real estate boards of Greater Vancouver, Fraser Valley and Chilliwack. The search function for Homelists.ca is straight forward. Consumers can select the City and Housing Type before selecting the price range they like to search. Once the criteria are selected and the Search button is clicked, all the homes listed for sale on the MLS® System are displayed in sequential order.

Homelist has a neat feature showing homes in various neighborhoods of a City. When a neighborhood link is clicked, all the homes for sale in that neighborhood are displayed. In addition, the Google Map features Bird’s Eye, Walk Score and Street View that many consumers like.

Being a Reciprocity Website, a consumer will only be able to contact the agent whose website the consumer is using. Many consumers prefer to deal with just one agent who can help them with their needs.

Between the two(2) websites, each provides different information to consumers. As a MLS® Search Tool, Homelists.ca is a better as it is designed solely for home buyers and sellers to find homes for sale on the MLS® System.

If you are an agent, Homelists.ca is a search portal that agents can subscribe to have their own datafeed updated daily, and linking back to them by email inquiry form embedded on each listing. For consumers, feel free to pass the website on to all your friends and relatives who are looking for MLS® listing information.

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Vancouver Westside Home Prices Getting Higher

Westside_Detached_June_Housing_Index_Report

Strong demand for Vancouver Westside detached homes and the lack of supply pushed home prices higher in June. Since January of 2013, home prices for single family detached houses in Vancouver Westside climbed steadily.

Towards the end of December 2014, the rate of median price increase  for Vancouver Westside detached homes accelerated from $2,028,000   in January 2013 to $2,987,500 last month (June 2015).  The price gain over two and a half years was an impressive 47%.

No Signs Of Slowing Down

The depreciation of 4.5% in Canadian currency against the US$ (and Chinese Yuan) over a one month period from June to July, 2015 is expected to give Chinese buyers who are holding US funds more purchasing power.  Although there were data on the extend of offshore money buying real estate in Vancouver, money originating from China was widely reported to be involved. View homes for sale in Vancouver Westside.

Supply And Demand For Vancouver West Homes

The total inventory for active detached home listings at the end of June for Vancouver Westside was reported to be at 615 homes.  Computing against the sale of 225 detached homes in the month, the supply/demand ratio of 2.73 months is pointing to a strong and active demand from home buyers.

Until the market is getting to more balanced ratio of 6 months supply, pricing pressure will continue to bid up home prices in the coming months. Buyer activities for 2015 as can be seen from the red bar shown in the chart to the left confirmed the  strong underlying strength.

The momentum for home sales in the remaining months of 2015 is expected to be maintain. Unless a sudden external adverse event happens, the housing market for Vancouver for 2015 is expected to be a good year for the real estate industry.

For more info about buying or selling your home in Vancouver Westside, kindly contact us at 604-721-4817 or email us.

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Hot Vancouver Housing Market

April 10, 2015

Canadian Press | March 10, 2015 | Last Updated: Mar 10 2:45 Spring has come early for both Toronto and Vancouver Rock-bottom interest rates, a scarcity of supply and growing demand from millennials and wealthy immigrants have fuelled a strong start to the spring real estate season in Toronto and Vancouver. The number of active […]

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Vancouver Housing Report March, 2015

April 3, 2015

Demand continued to rise across Metro Vancouver’s housing market in March The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 4,060 on the Multiple Listing Service® (MLS®) in March 2015. This represents a 53.7 per cent increase compared to the 2,641 sales recorded in March 2014, and […]

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Un-affordable Vancouver Home Prices

April 3, 2015

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Vancouver Housing Report, February 2015

March 17, 2015

Real Estate Board of Greater Vancouver (REBGV) housing report for February, 2015 Home buyer and seller activity outpaces historical averages in February Conditions within the Metro Vancouver* housing market continued to strengthen in February as home sale and listing totals came in well above the region’s ten-year average for the month. The Real Estate Board […]

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Real Estate Commission Is Negotiable

May 7, 2014

Real Estate Commission Too High? The public has the misconception that real estate commission is too high. In many quarters, the consumer is under the impression that real estate commission in North America is in the range of 5% to 6%. In reality, the commission payable by consumer is much lower. In the case of […]

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Will Prices Fall Following Slumping Housing Sales?

May 5, 2014

Will the current housing slump lead to a prolong housing correction in Canada? The chances for a real estate downturn is very high. The reason for a housing slump is summarized in “Canadian housing is overvalued”. A survey conducted this fall by Mustel Research Group on behalf of the REW.ca, a Vancouver-based real estate search […]

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Making Sense Of Canadian Real Estate Prices

April 23, 2014

Canadian real estate prices Vs money supply Real estate is subject to supply and demand like any other goods that are in demand by people. The increase in Canadian home prices when compared to the increase in the prices of crude oil and gold, showed a close relationship with the supply of money (in Canada […]

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