The number of 2008 detached home sales in Squamish was down 40% from last year. December 2008 inventory levels were consistent with those of one year ago.
Squamish townhouse and condominium sales were down 48.5% from 2007. Inventory levels this December were down 78.1% from December of last year, in part due to the slowing of new building construction.
Statistical source: Real Estate Board of Greater Vancouver
Published Sunday, January 18, 2009 2:57 PM by Alphonse Quenneville
Detached homes - At an average benchmark price of $728,600, December detached home prices in North Vancouver were down 16.4% from twelve months ago. Current pricing is consistent with early 2006. The number of detached homes sold in 2008 declined 27.5% from 2007. Detached homes available for sale increased by 63.2% over last December.
Townhouse benchmark prices averaged $506,158, down 12.4% from one year ago. 2008 sales were down 32% from last year.
Condominium prices in North Vancouver are down 16.2% from December 2007, while 2008 sales have fallen 36.4% from last year. The December inventory of condos available for sale is up just slightly, at 2.9% over one year ago .
Statistical source: Real Estate Board of Greater Vancouver
Published Sunday, January 18, 2009 2:41 PM by Alphonse Quenneville
West Vancouver detached home prices declined 12.8% from December of last year, reaching a benchmark price of $1,168,852. As the number of units sold in 2008 was down 38.3%, the number of detached homes available for sale fell by 4% this December over last.
Statistical source: Real Estate Board of Greater Vancouver
Published Sunday, January 18, 2009 2:38 PM by Alphonse Quenneville
The volatile movements in the value of the Canadian dollar have been breathtaking. The Canadian dollar has fallen because of the downturn, and now full recession, in the American economy. At first glance, this does not seem to follow logic. Equity & Real Estate Markets in the USA have crashed. Some American investors are being forced to liquidate their holdings (in Canadian and World Equities) and convert them back to American dollars. This movement of cash into American dollars is adding strength to the American dollar and causing other currencies to fall. This process has to, and will finish at some point in 2009. We expect the Canadian dollar to strengthen again, once this U.S. liquidation process works its way through world markets. We feel that now is a good time for American Investors to take advantage of their strong dollar by investing in British Columbia Real Estate. Doing so will leverage the investment against a Canadian dollar, which is bound to increase in value in the next year.
The volatile movements in the value of the Canadian dollar have been breathtaking. The Canadian dollar has fallen because of the downturn, and now full recession, in the American economy. At first glance, this does not seem to follow logic. Equity & Real Estate Markets in the USA have crashed. Some American investors are being forced to liquidate their holdings (in Canadian and World Equities) and convert them back to American dollars. This movement of cash into American dollars is adding strength to the American dollar and causing other currencies to fall. This process has to, and will finish at some point in 2009. We expect the Canadian dollar to strengthen again, once this U.S. liquidation process works its way through world markets. We feel that now is a good time for American Investors to take advantage of their strong dollar by investing in British Columbia Real Estate. Doing so will leverage the investment against a Canadian dollar, which is bound to increase in value in the next year.
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