Vancouver Property Management and Condo Sales
From the monthly archives:
I’ve been working at Downtown Suites for almost two months now, and am really excited to be starting my Property Management course this September. It will train me in all aspects of Property Management in BC and at the end of it I’ll be a licensed property manager.
I am very excited and and happy to be a part of the Downtown Suites Team. The office is very busy, upbeat, and is a great enviroment to come into everyday.
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Introducing the Leasing Team
Nicholas Meyer introduces the Downtown Suites Team: Property Manager Tanja Milosevic and Property Management Assistant Theresa Prak
Our Property Management Process
Leasing team Tanja Milosevic and Theresa Prak discuss the thorough process of the Downtown Suites leasing arrangements, with company president, Nicholas Meyer.
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In this recent video, I discuss the current real estate market in Vancouver.
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Recent news from the BC Real Estate Association:
Swollen Inventories Favour Homebuyers
Vancouver, BC – August 15, 2008. British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 38 per cent to $2.9 billion in July, compared to July 2007. Residential unit sales fell 37 per cent to 6,541 units during the same period. The average MLS® residential price in the province was $444,358, down 0.5 per cent from July 2007. 
Home sales have slowed to a level not seen since the beginning of the decade,” said Cameron Muir, BCREA Chief Economist. “BC households are now cautious about making major purchases in light of uncertainty around fuel prices and other inflationary pressures.”
“The slowdown in housing demand has swollen the inventory of homes for sale, putting downward pressure on home prices in some markets,” added Muir. A total of 60,008 homes were for sale on the MLS® in July, an increase of 63 per cent from the previous year. “While this inventory is expected to decline in the coming months, most BC regions will remain in buyers’ market territory for the remainder of 2008.”
Year-to-date MLS® residential sales dollar volume in the province declined 18 per cent to $23.2 billion compared to the same period last year. Sales transactions fell 24 per cent to 49,448 units, while the average residential price increased 8.2 per cent to $469,676 over the same period.
For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2008-07.pdf.
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