Dan! Muzzin
604 813 3795
CA
www.danmuzzin.com
[email protected]
A Fresh Perspective
April 2015
In this issue:
•
•
•
•
market update
selected sales details
higher homebuilding standards
great value – highly skilled homebuilders
market update
The Real Estate Board of Greater Vancouver (REBGV) reported total MLS® residential
property sales of 4,060 units in March, representing a 33% increase from sales in
February, and an increase of 54% compared to March 2014. At 12,376, the total
number of residential property listings at March 31 was about 4% more than at the
end of February, and 15% fewer than at the end of March 2014. At 33%, the metro
MLS® sales-to-active-listings ratio was the highest this ratio has been since July 2007
and is consistent with strong market conditions throughout the region.
North$Shore$units$sold$as$%$of$ac8ve$lis8ngs$
North Shore home sales in March, at
529 units, were 27% more than the 417
properties sold in February, and 73%
38%$ higher than the 305 sold in March 2014.
40%#
The sales-to-active-listings ratio on the
Sellers$
30%#
North Shore soared to 38%, from 31% in
Market$↑$
19%$
17%$
February, reflecting very high sales for
20%#
Balanced$Market$
this time of year and a normal number of
10%#
Buyers$$↓$
properties for sale as at the end of March.
Market$$
0%#
North Shore houses that sold In March
M# A# M# J# J# A# S# O# N# D# J# F# M# A# M# J# J# A# S# O# N# D# J# F# M#
took an average of 8 weeks to sell, 3
2013#
2014#
2015#
weeks fewer than for February’s sales,
and about 3 weeks quicker than the average of 11 weeks it took for houses that sold in
March 2014. At March 31, there were 1,401 North Shore properties listed for sale (on
MLS®) or 3% more than the 1,357 listings at the end of February, and 10% fewer than
the 1,565 units for sale at March 31, 2014. Benchmark prices of houses rose by 15% in
North Vancouver and by 13% in West Vancouver from those in March 2014.
Dan$Muzzin$$$$$Macdonald$Realty$Ltd.$$$$$danmuzzin.com$$$$$604781373795$
50%#
As prices and market conditions can vary dramatically by neighbourhood, feel free to
call me to better understand how the market is doing where YOU live. For the entire
March 2015 REBGV market report, visit www.danmuzzin.com/news.html.
!
If you find a property you love and you can afford it, you buy it regardless of
market conditions. You will be living in a home you really like and can pay for.!
1575 Marine Drive
West Vancouver BC
Canada V7V 1H9
!
!
The following charts show the inventory of North Shore homes for sale on the last day
of each month from Mar 2013 to Mar 2015, and the sales for each month.
North Vancouver!!
!
attached & apartments
detached
Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795
Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795
700
700$
ac-ve$lis-ngs$(at$month$end)$
units$sold$
587$
525
525$
340$
350 400$
350$
206$
189$
175$
134$
113$
93$
0$
94$
M
ar
M 13
ay
-1
Ju 3
l-1
Se 3
pN 13
ov
-1
Ja 3
nM 14
ar
M 14
ay
-1
Ju 4
l-1
Se 4
pN 14
ov
-1
Ja 4
nM 15
ar
-1
5
M
ar
M -13
ay
-1
Ju 3
l-1
Se 3
p
N -13
ov
-1
Ja 3
nM 14
ar
M -14
ay
-1
Ju 4
l-1
Se 4
p
N -14
ov
-1
Ja 4
nM 15
ar
-1
5
Mar 2013 - 113
Mar 2014 - 1340
Mar 2015 - 189
538$
274$
175
Units Sold
513$
West Vancouver
attached & apartments
detached
Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795
Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795
700
700$
North Shore residential property sales in
March increased by 27% from February,
to levels that are about 49% higher than
usual for the month of March.
Units For Sale
Mar 2013 - 516
Mar 2014 - 484
525
Mar 2015 - 488
516$
525$
488"
The number of properties for sale on
the North Shore at the end of March
increased by 3% from February 28,
although that was 10% fewer than at the
end of March 2014.
484$
350
350$
178$
175
58$
19$
61$
Chart!data!obtained!from!Real!Estate!Board!of!Greater!Vancouver.!
!
154$
126"
16$
33"
0$
M
ar
M 13
ay
-1
Ju 3
l-1
Se 3
pN 13
ov
-1
Ja 3
nM 14
ar
M 14
ay
-1
Ju 4
l-1
Se 4
pN 14
ov
-1
Ja 4
nM 15
ar
-1
5
M
ar
M -13
ay
-1
Ju 3
l-1
Se 3
p
N -13
ov
-1
Ja 3
nM 14
ar
M -14
ay
-1
Ju 4
l-1
Se 4
p
N -14
ov
-1
Ja 4
nM 15
ar
-1
5
0
101"175$
2!!
danmuzzin.com!!
selected sales details
properties sold, as a % of # of properties for sale at end of the month
West#Vancouver#
North#Vancouver#
Dan$Muzzin$$$$$Macdonald$Realty$Ltd.$$$$$danmuzzin.com$$$$$604781373795$
Dan$Muzzin$$$$$Macdonald$Realty$Ltd.$$$$$danmuzzin.com$$$$$6047813.3795$
50%#
50%#50%#
40%#
40%#
20%#
30%#
22%#
20%#
22%#
Balanced#Market#
10%#
0%#
25%#
Sellers#
Market#↑#
30%#
#units#sold#as#%#of#ac<ve#lis<ngs#
Buyers##↓#
Market##
12%#
10%#
detached#A#69%#
aBached##A#40%#
detached#A#21%#
aBached##A#26%#
11%#
0%#
M# A# M# J# J# A# S# O# N# D# J# F# M# A# M# J# J# A# S# O# N# D# J# F# M#
M# A# M# J# J# A# S# O# N# D# J# F# M# A# M# J# J# A# S# O# N# D# J# F# M#
2013#
2014#
2013#
2015#
2014#
2015#
average # of weeks it took for houses to sell
North%Vancouver%
weeks%
West%Vancouver%
weeks%
Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795
25"
Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795
25"
avg # weeks to sell
(detached houses)
20"
20"
15"
15"
10"
10"
5"
5"
0"
9
9
8
10 12 17 11 14 16 11 15 15
M" A" M" J"
J" A" S" O" N" D" J"
9
8
7
9
F" M" A" M" J"
2013"
10 10
9
10 11 14
9
J" A" S" O" N" D" J"
2014"
F" M"
Lynn&Valley&
30&
&#&houses&sold&each&month&
27&
20&
M" A" M" J"
1,048&
2,000&&
F" M"
2015"
Ambleside&
$000&
75&
3,000&&
1,600&&
60& 54&
1,200&&
45&
54&
51&
2,400&&
1,246&
16&
30&
400&&
15& 10&
1,200&&
10&
11& 600&&
0&
0&&
0&&
M& A& M& J& J& A& S& O& N& D& J& F& M& A& M& J& J& A& S& O& N& D& J& F& M&
2013&
2015&
Chart!data!obtained!from!Real!Estate!Board!of!Greater!Vancouver.!
1,800&&
1,925&
1,625&
800&&
M& A& M& J& J& A& S& O& N& D& J& F& M& A& M& J& J& A& S& O& N& D& J& F& M&
2014&
J" A" S" O" N" D" J"
2014"
2,569&
0&
2013&
F" M" A" M" J"
Dan$Muzzin$$$Macdonald$Realty$Ltd.$$$$danmuzzin.com$$$604.813.3795&
982&
15&
J" A" S" O" N" D" J"
2013"
28&
10& 15&
!
17 14 14 18 20 21 24 19 22 21 23 24 16 15 15 16 17 18 19 16 27 19 14 15 13
$000&
&average&selling&price&
&#&houses&for&sale&at&end&of&month&
0"
like to know how sales are doing in your neighbourhood? …call Dan
Dan$Muzzin$$$Macdonald$Realty$Ltd.$$$$danmuzzin.com$$$604.813.3795&
40& 36&
5
2015"
house sales by neighbourhood
50&
9
3!!
2014&
2015&
danmuzzin.com!!
a Parent’s Guide to Raising Money-Smart kids !!!!!
for
!! a
free copy of this marvelous booklet,
Dan at 604-813-3795 or go to
call
published by the Canadian Institute of Chartered Accountants
danmuzzin.com/resources.html
higher homebuilding standards
Homebuyers can expect higher standards from the residential construction sector
thanks to a newly enhanced licensing system.
The BC government is establishing new qualifications and continuing education
requirements for residential homebuilders and renovators, under the Homeowner
Protection Act.
To obtain a new license, homebuilders will be required to demonstrate proficiency
in seven areas:
1. The BC Building Code and other relevant laws and regulations.
2. The principles of construction management such as project planning, cost
estimating, and project supervision.
3. Residential construction and building science including building envelope
and mechanical systems such as heating.
4. Managing and maintaining positive customer relations including response to
defects identified under home warranty.
5. Financial planning and budgeting.
6. Legal issues, provincial laws and municipal bylaws affecting residential
construction.
7. Strategic business planning, management and administration.
These qualifications can be met through a combination of education and
experience or equivalencies. Homebuilders with existing licenses will not need to
re-qualify under the enhanced licensing system.
To renew their license, homebuilders will be required to take continuing
professional development courses directly related to residential construction each
year.
The enhanced licensing system will be phased in over the next 16 months to give
the industry time to prepare for the new requirements.
great value – highly skilled homebuilders
If investing several hundred thousand dollars in a major renovation or 7-figures for
a newly constructed house, one would rightly expect “everything to be perfect”.
Although we often hear about those high profile troubles that people have faced,
fortunately, there are many highly skilled builders who consistently produce high
quality results.
If you or someone you care about wants to renovate their home, or to build their
new dream home, and would like to be introduced to a selection of highly skilled
builders feel free to call Dan at 604-813-3795.
[email protected]!!
!
4!!
This communication is not intended to cause or induce breach of an existing agency agreement
danmuzzin.com!!