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North Shore and Vancouver Real Estate Market Heating Up in 2012!

After a sluggish first few weeks to 2012, it appears that Chinese New Year has ignited the Vancouver & North Shore Real Estate Markets.

There has been 38 detached sales in North Van (217 Active Listings), 61 in Vancouver West (793 Actives), & 27 in West Vancouver (390 Actives). Since just before Chinese New Year Mid January 15th we have seen 19, 31, & 13 respectively with many being multiple offer sales selling for over asking within days of listing. 

Five examples are 2347 Lawson in Dundarave West Vancouver. Listed for $2,388,000 and sold for $2,588,000 in the same day. 3062 Mathers Ave in Altamont West Vancouver listed for $2,998,000 and sold for $3,421,000 in 7 days. 4340 Highland Boulevard in Forest Hills North Vancouver listed for $870,000 and sold for $1,055,376 in 2 days. Of the last 11 sales in North Van, 8 sold within 9 days and 4 sold for over asking. 1816 Western Parkway BB in The University Vancouver West district listed for $4,288,000 and sold for $4,500,000 in 8 days. 4018 W 34th in Dunbar Vancouver West listed for $2,198,000 and sold for $2,380,000 in 6 days. Of the last 12 sales in Vancouver West, 11 have been within 10 days and 7 have been for over asking! 

It appears the trends of 2011 are picking up again with Mainland Chinese Buyers bidding up the price for houses and land primarily for investment purposes. Correctly marketing your home to Chinese Buyers with Feng Shui taken into serious consideration can help you sell for hundreds of thousands more. Remember it's not what you list for but what you SELL for.

The attached market hasn't seen the recent ignition the detached market has, but sales in 2012 have been steady with 146 sales in the Vancouver West side, compared to 1731 active listings, with the highest being the PH at Lumiere selling for $4,200,000 and a PH at The Jameson House selling for $3,170,000. In West Vancouver, there are 112 active listings and there have been 10 sales, the highest being unit #1 t The Argyle selling for $3,500,000. In North Vancouver there have been 48 sales vs 431 active listings. Top selling attached apartment has been a duplex in Central Lonsdale, 204 E 19th listed for $1,058,000 and sold for $1,060,000.

All in all a very active start to 2012 driven by low interest rates of 2.95% 4 year fixed and 2.80% variable and Chinese investors who seem to have just started buying again after Chinese New Year, attracted by BC's economy, beauty, schools systems, proximity to China, and low vacancy rates/high rental rates.

If you are thinking of Buying or Selling in 2012 make sure you List and Buy with a Realtor you trust, who will work as hard as you expect and deserve, and with a Realtor that knows the market you are interested in. I study West Van, North Van, Downtown Vancouver, and the Vancouver West Side daily, and have been fortunate enough to live in all these regions developing valuable local knowledge for top schools, desirable communities, and nearby amenities in every Vancouver neighborhood. 

With 55 sales in 2.5 years and counting, I am driven, hard working, and passionate about Real Estate & would be honored to be you REALTOR.