With the 2010 Winter Olympics approaching in February, many volunteers will be out lend their support and services to the events around town. Staff fromVancouver City Hall are no exception as about 300 City workers will volunteer their services around the City. Obviously, this will result in a staff shortage at City Hall. There is currently a high volume of applications that is being processed at City Hall - be aware that that wait times will then become longer during the Olympics Games. Applications for building permits taken in latter half of January could see issuance during the first half of March.
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December real estate sales hit 20-year record
January 25, 2010 — DansonPosted on: Wednesday, 13 January 2010
Posted by: Business Interactive Vancouver
B.C. reported the strongest sales of residential property in December in 20 years, according to Multiple Listing Service data released Tuesday by the B.C. Real Estate Association.
Total sales rose 132% to 5,703 units in December compared with sales in December 2008. It is the most number of homes sold during the holiday month since December 1989 when 6,014 units were sold.
Every major real estate market in the province reported unit sales growth with the number of units sold rising the most in Greater Vancouver (+176%), followed by Kamloops (167%), the Fraser Valley (143%), Chilliwack (124%), South Okanagan (116%), Vancouver Island (102%), Okanagan Mainline (84%), Victoria (82.5%), Kootenay (68%) and Northern BC (65%).
B.C. reported sales growth last month despite declines in the number of active MLS listings across the province. Markets with the steepest declines in the number of units on the market include Victoria (-40%), Greater Vancouver (-39%), Chilliwack (-39%), the Fraser Valley (-37%), Vancouver Island (-23%).
A tighter supply coupled with pent-up demand and low mortgage rates contributed to increased average home prices in December compared to the same month in 2008. Districts with the largest increases in the average December sale price included the Northern Lights district (+26%), Victoria (+18%), Okanagan Mainline (13.9%), Greater Vancouver (12%) and Kamloops (12%).
Despite December’s monthly increases, the average sale prices for homes fell for the year across the province. Year-over-year, home prices fell 7.2% in the South Okanagan with further declines in Powell River (-6.7%), Okanagan Mainline (6.6%), Chilliwack (6.2%) and on Vancouver Island (4.4%).
Prices fell marginally in B.C.’s largest markets, falling 1.8% in Victoria, 1.4% in the Fraser Valley and only 0.2% in Greater Vancouver.