A Study – What’s your Vancouver condos worth? – REMAX Vancouver

West Vancouver market

West Vancouver condos market along with about 70% of all Markets set records for best-ever first quarter sales Luxury home sales soared in the first quarter of 2010 as strong buyers moved to take advantage of favourable market conditions across the country, according to an aritcle reported by Yaletown real estate agents in Vancouver.

The RE/MAX upper End 2010 Report, highlighting sales and trends in 13 major Canadian centres (including West Vancouver condos) and five submarkets, found that uplifting economy performance , increased personal wealth, immigration and foreign investment all contributed to a serious increase in sales. almost all areas experienced double and triple-digit increases between January and March of this year over 2009 figures for the same period. Nine out of the 13 real estate markets (including Vancouver condos market) examined (69 per cent) broke existing records – setting new all-time highs for 1st period this year so far action in the upper end.

recuperation in the high luxry market (including West Vancouver condos)  Edit this text  has been nothing abruptly of singular. The portion of the real estate market was hardest hit – and as a Vancouver real estate, I agree – West Vancouver condos was no exception.

When the recession took hold, West Vancouver condos really took a low, —y et its comeback has been fast and furious. There is no doubt that mindset has changed and authority has once again come back . One only has to look at the percentage increases in the West Vancouver condos market to see the curren increase in values .

While comparisons are being made to one of the worst first quarters on record – you can clearly see that the
bounce back in many areas – including West Vancouver, North Vancouver — exceeds record levels reported in years past. Being a leader in terms of percentage increase in sales is Kelowna recreational market (700 per cent ), Montreal (300 % ), Victoria (275 % ), Greater Toronto (263 % ), West Vancouver condos (184 per cent)..

Real estate continues to whispper in the yar with purchasers at every market price level . With the higher end of the real estate market going into high gear, every segment of the residential real estate sector is now maintaining in balance Despite the upward impulse, there are yet great properties out there – particularly at the higher price points —a fact that is motivating affuent buyers to snag those properties – Especially in West Vancouver condos

Improving economic numbers have been a major driver , boosting consumer confidence levels across the board . The
tangibility of bricks and mortar has also played a role in record activity – a development that began in 2008 as
affluent purchasers reduced their exposure to equities and shifted their yield into real estate holdings. Recovering stock markets – and client’s portfolios – in the months ahead will further contribute to Canadian real estate market activity.

Luxury real estate sales as a percentage of the market have been steadily increasing in late(a) years – with the exception of 2009. With the return to economic growth , it’s expected that the amount of wealthy individuals will begin to rebound , following two years of sequent declension. This will follow to aid increase Canada’s luxury real estate market passing forward.

Heavy migration and alien have also had an impact on the luxury Vancouver condos – and in some real estate markets , seriously improved sales – much like in West Vancouver condos. Arab home buyers , China buyers , and Europeans—to a lesser extent— were equally present in every market across the country. Canada’s sound banking system, political stability , and strong dollar are bringing international infusion – and that is spraying over into top end residential real estate. Most active in 2010 were business executives, entrepreneurs, and professionals.

Location was first and maiden among upper-end buyers, followed by a preference for newer houses or those that are turn-key (completely renovated). With the exception of Toronto, buyers could be relatively particular and take their time in devising decisions as balanced conditions characterized markets across the board.

Given passable supply, prices are likely to hold even or experience modest increases in the majority of markets in 2010. Canada’s most expensive luxury markets are shared equally among East and West , with West Vancouver condos topping the first price point for top-end homes at $2 million, followed by $1.5 million in Greater Toronto and Montreal (Island). Upper-end value markets were most abundant in Atlantic Canada and smaller centres in Ontario, where luxury home prices started at $400,000 in St. John’s, $450,000 in Halifax-Dartmouth, $500,000 in London St. Thomas, and $750,000 in Ottawa and Hamilton-Burlington. Winnipeg and Edmonton represented good value in the West at $500,000 and $850,000 respectively.

West Vancouver condos carries the title for the most valuable home sold through MLS in the first quarter . The home — an 11,600 sq. ft. home on ¾ of an acre on the city’s West Vancouver side, changed owners for $10 million . Other noteworthy sales include: $7.25 million in the Greater Toronto suburb of Mississauga, $6.25 million in Toronto’s central core, $5.75 million in Calgary, $5.5 million in Montreal (Island), and $5.3 million in White Rock/South Surrey. The most expensive MLS homes could be found in West Vancouver condos market ($29.9 million), Greater Toronto ($23 million in Bridle Path), Vancouver Westside’s Shaughnessy area ($22 million) and Victoria ($19 million).