Dan! Muzzin
604 813 3795
CA
www.danmuzzin.com
[email protected]
A Fresh Perspective
May 2015
In this issue:
•
•
•
•
market update
selected sales details
regulated electrical and gas work
great value – permits
market update
The Real Estate Board of Greater Vancouver (REBGV) reported total MLS® residential
property sales of 4,179 units in April, representing a 3% increase from sales in March,
and an increase of 37% compared to April 2014. At 12,436, the total number of
residential property listings at April 30 was slightly more than at the end of March,
and 20% fewer than at the end of April 2014. At 34%, the metro MLS® sales-to-activelistings ratio was the highest this ratio has been since June 2007 and reflects very
strong market conditions throughout the region.
North$Shore$units$sold$as$%$of$ac9ve$lis9ngs$
North Shore home sales in April, at 470
units, were 11% fewer than the 529
properties sold in March, and 34% higher
than the 352 sold in April 2014. The
40%#
sales-to-active-listings ratio on the North
Sellers$
30%#
34%$
Shore slipped to 34%, from 38% in March,
20%$
Market$↑$
17%$
reflecting continued high sales for this
20%#
Balanced$Market$
time of year and slightly fewer-than10%#
Buyers$$↓$
normal number of properties for sale as
Market$$
0%#
at the end of April. North Shore houses
A# M# J# J# A# S# O# N# D# J# F# M# A# M# J# J# A# S# O# N# D# J# F# M# A#
that sold In April took an average of 8
2013#
2014#
2015#
weeks to sell, the same as for March’s
sales, and about 3 weeks quicker than the average of 11 weeks it took for houses that
sold in April 2014. At April 30, there were 1,363 North Shore properties listed for sale
(on MLS®) or 3% less than the 1,401 listings at the end of March, and 22% fewer than
the 1,738 units for sale at April 30, 2014. Benchmark prices of houses rose by 16% in
North Vancouver and by 13% in West Vancouver from those in April 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
April 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 Apr 2013 to Apr 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$
601$
525
500$
525$
409$
479$
350
350$
257$
175
175$
Units Sold
141$
119$
167$
105$
112$
167$
r-1
Ju 3
nAu 13
gO 13
ct
D 13
ec
-1
Fe 3
b1
Ap 4
r-1
Ju 4
nAu 14
gO 14
ct
D 14
ec
-1
Fe 4
b1
Ap 5
r-1
5
r-1
Ju 3
nAu 13
gO 13
ct
D 13
ec
Fe 13
bAp 14
r-1
Ju 4
nAu 14
gO 14
ct
D 14
ec
Fe 14
bAp 15
r-1
5
0$
Ap
Ap
Apr 2013 - 119
Apr 2014 - 141
0
Apr 2015 - 167
642$
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
Units For Sale
700$
North Shore residential property sales in
April fell by 11% from March, to levels
that are about 30% higher than usual
for the month of April.
585$
Apr 2013 - 585
Apr 2014 - 511
525
Apr 2015 - 475
525$
475#
The number of properties for sale on
the North Shore at the end of April
slipped by 3% from March 31, although
that was 22% fewer than at the end of
April 2014.
511$
350
350$
190$
175
109#175$
61$
!
27#
r-1
Ju 3
nAu 13
gO 13
ct
D 13
ec
-1
Fe 3
b1
Ap 4
r-1
Ju 4
nAu 14
gO 14
ct
D 14
ec
-1
Fe 4
b1
Ap 5
r-1
5
Ap
Ap
Chart!data!obtained!from!Real!Estate!Board!of!Greater!Vancouver.!
23$
131#
0$
r-1
Ju 3
nAu 13
gO 13
ct
D 13
ec
-1
Fe 3
bAp 14
r-1
Ju 4
nAu 14
gO 14
ct
D 14
ec
-1
Fe 4
bAp 15
r-1
5
0
26$
76$
176$
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$$$$$Macdonald$Realty$Ltd.$$$$$danmuzzin.com$$$$$604781373795$
Dan$Muzzin$$$$$Macdonald$Realty$Ltd.$$$$$danmuzzin.com$$$$$6047813.3795$
50%#
50%#
40%#
40%#
44%#
20%#
24%#
Sellers#
Market#↑#
30%#
#units#sold#as#%#of#ac<ve#lis<ngs#
30%#
22%#
14%#
20%#
21%#
Balanced#Market#
10%#
Buyers##↓#
Market##
10%#
detached#A#65%#
aBached##A#33%#
detached#A#23%#
aBached##A#21%#
11%#
0%#
A# M# J# J# A# S# O# N# D# J# F# M# A# M# J# J# A# S# O# N# D# J# F# M# A#
A# M# J# J# A# S# O# N# D# J# F# M# A# M# J# J# A# S# O# N# D# J# F# M# A#
0%#
2013#
2014#
2013#
2015#
2014#
2015#
average # of weeks it took for houses to sell
North%Vancouver%
weeks%
West%Vancouver%
weeks%
Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795
25"
Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795
25"
avg # weeks to sell
(detached houses)
20"
20"
15"
15"
10"
10"
5"
5"
0"
9
8
10 12 17 11 14 16 11 15 15
A" M" J"
J" A" S" O" N" D" J"
9
8
7
9
F" M" A" M" J"
2013"
10 10
9
10 11 14
9
J" A" S" O" N" D" J"
2014"
Lynn&Valley&
40$
39$
F" M" A"
0"
14 14 18 20 21 24 19 22 21 23 24 16 15 15 16 17 18 19 16 27 19 14 15 13 12
A" M" J"
J" A" S" O" N" D" J"
F" M" A" M" J"
2013"
J" A" S" O" N" D" J"
2014"
2015"
$000&
Dan$Muzzin$$$Macdonald$Realty$Ltd.$$$$danmuzzin.com$$$604.813.3795&
2,000$$
1,600$$
75$
3,000$$
2,441&
60$ 67$
22$
1,030$
1,200$$
45$
800$$
30$
400$$
15$
2,400$$
63$
1,240&
27$
47$
1,800$$
1,853$
1,681$
1,200$$
20$
10$
11$
0$
2014$
!
600$$
0$$
A$ M$ J$ J$ A$ S$ O$ N$ D$ J$ F$ M$ A$ M$ J$ J$ A$ S$ O$ N$ D$ J$ F$ M$ A$
2013$
2015$
Chart!data!obtained!from!Real!Estate!Board!of!Greater!Vancouver.!
14$
10$
8$
0$
0$$
A$ M$ J$ J$ A$ S$ O$ N$ D$ J$ F$ M$ A$ M$ J$ J$ A$ S$ O$ N$ D$ J$ F$ M$ A$
2013$
F" M" A"
Ambleside&
$000&
30$
20$ 953$
6
like to know how sales are doing in your neighbourhood? …call Dan
Dan$Muzzin$$$Macdonald$Realty$Ltd.$$$$danmuzzin.com$$$604.813.3795&
$average$selling$price$
$#$houses$for$sale$at$end$of$month$
$#$houses$sold$each$month$
31$
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
regulated electrical and gas work
In BC, it is a legal requirement that regulated electrical and gas work is done
properly by licensed contractors who take out permits. Homeowners can do the
work themselves, provided they have the required knowledge and skills and that
the home is a single-family residence and does not contain a suite. In both
instances, permits must be taken out for the work – these are separate permits to
municipal building permits and in most case are obtained through the BC Safety
Authority (“BCSA”). Prospective new homeowners should always be encouraged to
check that those permits are in place, especially if there are indications that recent
electrical or gas work was done in the home. This will give them peace of mind
that it was done properly and is safe.
Regulated work includes all work where electrical wiring or gas piping is extended
or modified in any way, or where new or replacement gas fireplaces, water heaters,
furnaces, ranges or cook tops are installed; such work requires a permit issued by
the BCSA. Connecting gas barbecues to existing gas outlets and replacement of
receptacles, dimmer switches, residential furnace thermostats, lamps and lighting
fixtures do not require a permit.
Regulated gas or electric work done without the necessary permits in place is
considered to be a material latent defect (MLD). All known MLDs must be disclosed
by a seller and his or her agent before a transaction is agreed to. Failure to do so
could lead to future legal issues or safety issues.
Regulated electrical and gas work can be done by certified or qualified electricians
or gas fitters; however, they must either be licensed contractors or working for a
licensed contractor to do this work. Only a licensed contractor can take out the
required permit. The licensed contractor must also be bonded and the BCSA can
call in that bond to have any unsafe installation work made safe.
BCSA inspects all work done by homeowners, thus providing assurance the work is
done safely and to required codes.
For a list of licensed contractors or information about permits, visit the BCSA’s
website at www.safetyauthority.ca and click on the Homeowners tab.
great value – permits
Hoping to save a few hundred dollars, metro Vancouver homeowners sometimes
choose to update or renovate their homes without obtaining the necessary
electrical, plumbing, gas or structural permits.
When planning your renovation, it is highly advisable to take out any permits that
may be required, as it will provide you with peace of mind that the work has been
satisfactorily completed. Your home will also be of much more interest and far
more valuable to prospective buyers when you decide to sell.
[email protected]!!
!
4!!
This communication is not intended to cause or induce breach of an existing agency agreement
danmuzzin.com!!