Port Moody Living
"City of the Arts" - Located at the head of Burrard Inlet, this vibrant city is rich in history and modern development. Steps from seaside parks, mountain trails and lakes, Port Moody is a nature lovers paradise.
Port Moody Real Estate News
Friday, June 17, 2011
Port Moody Real Estate Stats for May
Categories:Port Moody Real estate
The May press release by Real Estate Board of Greater Vancouver (REBGV) was titled 'Greater Vancouver housing market holds steady and favours sellers in May'. Overall, sales of residential properties increased both monthly and yearly comparatively; sales of detached, attached and apartment properties in Greater Vancouver reached 3,377 in May 2011, a 7% jump compared to the 3,156 sales in May 2010 and a 4.7% jump compared to the 3,225 sales in April 2011.
The REBGV is a member-based association of more than 10,000 REALTORS®, and the area covers communities from Whistler to Maple Ridge to Tsawwassen and everywhere in between. The numbers within each of the areas that the REBGV covers vary widely with some areas doing a lot better than others. Port Moody real estate numbers were pretty static on a monthly and yearly basis. The REBGV MLS® Port Moody sales facts showed that there were 28 detached properties sold in May, 22 attached, and 25 condos or apartments sold. This compares to 23/24/26 in April 2011 and 21/23/27 in May 2010.
In regards to the REBGV listings facts issued, Port Moody had 44 new detached properties listed in May, 35 attached properties, and 59 condos or apartments listed. In regards to the percentage of sales to listings, the numbers were 64%, 63% and 42% respectively.
Port Moody real estate prices remain great value compared to other areas in the Greater Vancouver area. The Canada Mortgage and Housing Corporation (CMHC) reported that in the first quarter of 2011 apartment or condominium prices were lower than last year in Burnaby, North Vancouver, Maple Ridge/Pitt Meadows and Port Moody, offering home buyers more modestly priced housing options. According to the REBGV's MLS Link Price Index, the benchmark price for a residential property in Greater Vancouver was $627,568 for April 2011. This was broken down to $890,833 for detached properties, $517,787 for attached, and $407,419 for condos or apartments. Port Moody property prices are well below these benchmark prices: In Port Moody the benchmark price for a detached property was $729,415, for an attached property it was $425,666, and for a condo or apartment it was $303,265.
For the full breakdown on Port Moody real estate numbers for May, see the Real Estate Board of Greater Vancouver website.
Monday, April 25, 2011
Spring Market in Port Moody
Greg talks about the Spring Market. In the Newport, Klahanie, Suterbrook developments there were a combined 14 sales (Jan), 18 sales (Feb), 20 sales (Mar) and 4 (Apr). There are currently 126 active listings which is approximately an 8 month supply of inventory. Supply and demand in the condo market is forcing prices down currently. Blogged just 12 minutes from Port Moody center, this is an ideal place for those looking to get away for an afternoon or day.
Wednesday, March 16, 2011
We've Opened Shop in Suter Brook!
Greg Axford talks about the opening of The Axfords Prudential Sterling Realty in Suter Brook Village, Port Moody. Located at 13-201 Morrissey Rd (across from the ARIA 2 highrise), The Axfords would love to have you drop-in and discuss any real estate questions you have. In addition, they are also handling Real Estate Property Management for any landlords/owners that don't have the time to deal with their investment properties and tenants. If you have any questions you can email us at: email@example.com
Friday, January 28, 2011
Port Moody Condos Video Blog Jan 27, 2011 Buying Costs
In this video blog, Greg Axford talks about the costs of buying a home. Some people are unsure if they pay commission when purchasing. The answer is no. The big cost of buying is the Property Transfer Tax (1% on the first $200,000 and 2% on the balance). First time buyers purchasing under $425,000 will be exempt from this tax. Please call or email if you have any other questions.
Wednesday, December 15, 2010
Port Moody Video Blog Dec 7, 2010 New Regulations Regarding the Competition Bureau
Categories:Canadian Real Estate Association,Competition Bureau,Port Moody Condos,Port Moody Real Estate,Port Moody Realtor
December 7, 2010- Greg Axford talks about the recent regulation changes reached between the Competiion Bureau and the Canadian Real Estate Association. Perhaps the original media attention mislead the public by stating anyone can put their home for sale on the MLS system. This is not the case, however, sellers should have the right to decide on different business models, real estate brokerages and commission structures. Sellers should make sure they know what they are paying for and how the agent they chose will market their home.