Immaculate and beautiful 2 bedroom, two bath apartment in Fairview. Tapestry, a solid concrete strata was developed by Vancouver's top developer: Concert Properties and built by BOSA Construction! The envelope warranty is still active.Great floorplan. Stainless steel appliances engineered hardwood floors, stone counters and over-height ceilings finish the suite with quality. A huge in-suite storage room is included. Underground parking, bike storage, lounge and a huge park adjoining are a few of the building advantages. Walk to Granville Island via the laurel street overpass, walk to restaurants and shops on Broadway and South Granville. Walk to the Canada Line Skytrain. Pets and rentals allowed too!

Immaculate, as new, 3 bedroom, 2 bathroom townhome. Sunny home is bright with a great outlook to the south. Stainless appliances from Jenn-Air & Miele. Low-E (energy efficient) and laminate windows (super quiet). BBQ on your patio via the the built-in gas hook-up. Sip your coffee on the South facing 3rd floor deck. 2-10-10 Warranty (envelope expires in 2019!) Steps to Jericho beach, tennis courts & McBride park. Boutique grocer is like an extended pantry. Pet, family and lifestyle friendly! Compare the value of this home which includes 2 underground parking stalls and a large heated storage room to the cramped triplex/fourplex stratas in the neighbourhood which have neither.

View this recently rented Loft Conversion or see all my home sales

Immaculate 3 bedroom concrete & steel townhome on the border of Kits/Point Grey. The quintessential floorplan of the developement, it boasts a powder room, hardwood floors and over height ceilings on main level, Miele & Jennair appliances in the kitchen and 3 huge entertainment sized decks (w/gas & water hookups). Top floor master bedroom, sunny en-suite, walk-in closet & mountain view deck complete the picture. Steps from Jericho beach, tennis courts & McBride park. Boutique grocer is like an extended pantry. Pet, family and lifestyle friendly! Compare the value of this home with 2 underground parking stalls and a heated 80 sq.ft. storage room to the cramped triplex/fourplex stratas in the neighbourood which have neither.

View this recently sold Apartment or see all my home sales

Although fewer new listings came to the market and many fell off the market, those drops in inventory could not hide the low relative volume of sales.   In December of 2009 133 westside detached homes were sold, in December of 2010 116 and in December of 2011 only 62.   Nine months of inventory is in the theoretical Buyer's market territory so if the coming months bring a glut of new listings then things could get a lot worse.  On the other hand sales volumes might reel in the slack.  We will need to watch and see what happens in the next couple of months.  For now, the trend towards higher inventories seems likely to continue.

Anecdotally, there is a real mixed bag of activity in the market.  All of my own listings sold in December save one which we pulled and will relist shortly.  Demand for entry level condos has been decent due to the relatively low increases in pricing compared to the detached market.  Comparatively good deals for leasehold detached properties have also attracted some activity.  Leasehold condos at UBC have been trading at virtually the same as if they where freehold while pre-paid leases (until 2074) on the Musqueam lands have sold for significantly less than their freehold counterparts.  Many listings have been languishing while sharply priced homes are still selling fast.

Remember that Months of Inventory” (MOI) is a measure derived from the number of active listings during a given month divided by the number of sales that month. It indicates the theoretical length of time it would take to sell all of the properties on the market if nothing changed. Historically, 0-5 months of inventory has generally implied upward price pressure for the ensuing six months, 5-8 months of inventory meant a flat market with respect to pricing and over 8 months of inventory has, for the most part, precipitated downward price pressure.

Do not hesitate to call me if you have any questions and please pass this and my contact information along to any friends or family who might benefit from my services.

By Sam Wyatt - Vancouver Realtor

The Salient Group produces quality loft conversions and The Paris Block is no exception. This sleekly designed heritage conversion PENTHOUSE has polished concrete floors, a one piece stainless sink/counter/back-splash in kit and cool built-in appliances. Suite length exposed brick walls and over-height ceilings round out the suite with heritage style. Includes your own PRIVATE ROOF DECK with gas hook-up and live/work status! The Paris Block is situated next to the Abbott Street corridor, Woodward's and all that Gastown has to offer. Storage locker and parking are included. No Pets.

Fewer new listings are the predominant reason for the drop in MOI.   This seasonal trend will likely continue for the month of December and possibly January as more people opt to wait until after the holiday season to list their homes for sale.  The Months of Inventory numbers have declined over the last two months but they are still relatively high compared to the preceding 12 months.  Average sale prices will likely continue to stagnate or trend downwards slowly over the next several months.

One of the questions I've heard of late is whether Vancouverites should expect deflation or inflation moving foward.  I've spent a fair amount of time reading articles on the subject and one thing seems clear - there is no consensus.  In the short run, many economists argue that the market is betting on deflation as investors shift their capital into US Treasury Bills.  It seems that it is only when economists are asked about the long term that inflation is more often seen as the likely outcome though very few appear to believe it would be a "hyperinflation" situation.   "Quantatative easing" in the United States and similar actions yet to be full implimented in the European Union are often cited as the prospective cause.  Real Estate is often seen as a safe place for wealth in an inflationary market but it should be remembered that highly leveraged real estate can be risky.  Interest rates are historically very low at the moment and are more likely than not to stay  that way in the short run.  But imagine a family taking out a 5 year fixed term $1,000,000 mortgage today at 3.29% for 35 years - what will happen if interest rates are 5.29% or higher at the end of 5 years when the loan needs to be renewed?  Prices for most things will be up - will wages rise with inflation?  Real Estate can be a safe asset in an inflationary market if you own it outright or have very little debt.

Remember that Months of Inventory” (MOI) is a measure derived from the number of active listings during a given month divided by the number of sales that month. It indicates the theoretical length of time it would take to sell all of the properties on the market if nothing changed. Historically, 0-5 months of inventory has generally implied upward price pressure for the ensuing six months, 5-8 months of inventory meant a flat market with respect to pricing and over 8 months of inventory has, for the most part, precipitated downward price pressure.

Do not hesitate to call me if you have any questions and please pass this and my contact information along to any friends or family who might benefit from my services.

Vancouver Realtor - Sam Wyatt - 604-722-3734

View this recently sold Condo or see all my home sales

Great one bedroom and den at the Europa! The suite boasts a gas stove and fireplace, air conditioning, granite counters, laundry and balcony. Amenities include swimming pool, whirlpool, sauna, exercise room, meeting room and concierge. Located in the thick of Crosstown/International Village, you are literally only steps to the Skytrain, Tinseltown, Andy Livingstone Park, the False Creek Seawall, daycare, T&T, Nesters, Costco, coffee shops and all the clubs and restaurants that Gastown has to offer. Rentals and pets allowed. Storage locker and parking included. A great investment property. REA Full Realtor 21-Nov-11 02:31 PM The enclosed information while deemed to be correct, is not guaranteed.

The Months of Inventory numbers have by and large decreased since last month but they are still relatively high compared to the preceding 12 months.  One should expect to see a subdued market over the next few months with stable to falling prices.

The larger context for Vancouver's real estate market is the slow motion sovereign debt crisis that continues to unfold in Europe and the prospect of global recession.  To what extent this will affect money from abroad, particularly China, from continuing to feed Vancouver's market is unknown but one could reasonably assume a mitigating effect.

Remember that Months of Inventory” (MOI) is a measure derived from the number of active listings during a given month divided by the number of sales that month. It indicates the theoretical length of time it would take to sell all of the properties on the market if nothing changed. Historically, 0-5 months of inventory has generally implied upward price pressure for the ensuing six months, 5-8 months of inventory meant a flat market with respect to pricing and over 8 months of inventory has, for the most part, precipitated downward price pressure.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Kitsilano Townhouse for sale.

As always please do not hesitate to give me a call at 604-263-2823 if I can answer any questions before the open house, or if you would like to book a private showing.

Sam Wyatt
RE/MAX - Real Estate Services

Beautiful, bright 2 Bedroom townhome north of 4th on quiet West 3rd Avenue. Extensively renovated and maintained home has stainless appliances, granite & butcher block counters, hardwood floors, 2 full bathrooms and wooden shutters. Multiple decks provide outdoor space with views to the North Shore. Several huge storage areas, a fenced front yard, garage parking and a wood burning fireplace all add to make a very functional and livable space. The building is in fabulous shape with new paint, roof and gutters. No pets or rentals are allowed. More info is available on Realtor's website. Open Houses on Saturday Oct 22nd & 29th, 2-4pm.

View this recently sold Townhouse or see all my home sales

View this recently sold Condo / Townhome or see all my home sales

Trendy Main street condo, priced to sell, 1 bdrm, flex space, centrally located near boutique shops and eateries. No wasted space, 9 ft ceilings, open floor plan, s/s appliances, stone counter top, cork flooring, 1 parking. In-suite laundry. Quick possession possible. Warranty is active.

Fabulous sunny SW facing corner suite. The quiet private outlook is onto the treed garden. The 2nd bedroom is technically an enclosed balcony but big enough to handle a pull out bed. Huge kitchen, living and dining room spaces. Hard wearing laminate floors, stainless steel appliances and a gas fireplace (gas included in monthly fees) which heats the home! The solid Seastar building has a guest suite ($50/night), gym, rec-room with TV and pool table, sitting lounge, gardens, conference room, office and WI-FI in many of the common areas. In-suite storage and laundry. One parking stall. Pets are allowed; rentals at max. More info on Realtor's website.

View this recently sold Condo or see all my home sales

The Months of Inventory for detached homes on the Westside of Vancouver jumped from 4.95 months in August to 7.91 for the month of September.  The MOI has not been this high since February 2009 when the market was just recovering from the 2008 credit crisis.  From June 2008 through February 2009 the MOI for Westside detached homes was over 8 months and at the high point it nearly hit 40 months.  Average prices dropped from their 2008 pre-crisis high of $1,858,267 to $1,294,341 in February 2009 - about a 30% drop.  Lower pricing and record low interest rates fueled a surge in first time buyers entering the market in 2009.  By 2010 a wave of Chinese buying in the Westside detached market buoyed up the average price to its current high point of $2,499,927 in June 2011. 

About a year ago inventory numbers for all markets were trending up and I said then that I expected the market to fall.  I was wrong.  The huge influx of Chinese buyers drove down detached inventories and drove up prices.  I believe that I was premature in my projection.  Looking at the MOI numbers now, they are in worse shape then last year and the global market news is bad - nearly as bad as 2008 and some would argue worse.  A new market drop could conceivably put pricing back as low as the February 2009 numbers.

I would not bet against these numbers and economic news.  If you have been thinking of selling don't wait a day to call me.  For those of you who have just sold property - well done.  For those who are looking to buy - the market may finally be with you.