West End Vancouver Real Estate MLS Statistics and Chart for July 2009

Sebastian — Sun, 30 Aug 2009 20:23:36 +0000

West End Vancouver Homes for Sale (West End Vancouver Condos only) – 178

July 2009 saw Active Listings in the West End Vancouver real estate market fall for the fifth month in a row (and seventh in the last eigh). This past month we saw them drop from 211 in June to just 178 in July. This is on par with the lows seen in January and February of 2008 when it was 177.

West End Vancouver Homes Sold (West End Vancouver Condos only) – 72

For the second time in the last eight months, Sales fell in the West End Vancouver real estate market. We saw Sales peak in May 2009 at 97 and they have now reached 72 in July 2009.

The Average Sale Price fell in July 2009 to $457,000 from $484,000 the month before. Meanwhile, the Average Per Square Foot price also fell to $567 from $597. Of sales, the Average Days on Market rose to 80 from 68.

West End Vancouver Home Sale Prices (West End Vancouver Condos only)

There was 1 sale under $200,000, 15 sales between $200,000 and $300,000, 19 sales between $300,000 and $400,000, 17 sales between $400,000 and $500,000, 8 sales between $500,000 and $600,000, 3 sales between $600,000 and $700,000, 2 sales between $700,000 and $800,000, 3 sales between $800,000 and $900,000, 1 sale between $900,000 and $1,000,000 and 3 sales over $1,000,000.

The least expensive sale was a 420 sq ft, 43 year old studio for $185,000. The most expensive sale was a new 1421 sq ft, 2 bedroom, 2 bath condo for $1,400,000.

West End Vancouver MLS Real Estate Stats - July 2009

Looking for More Information on Vancouver Real Estate?

You can find every homes for sale in the West End of Vancouver right here. Before making any decisions, you might want to learn more about the Vancouver real estate market generally.

If you are thinking of buying or selling, or just have questions, contact me here or send me a quick email.

Copyright © 2009 West End Vancouver Real Estate and Vancouver Realtor Blog by Sebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver ”West End Vancouver Real Estate MLS Statistics and Chart for June 2009”

Owning a Condominium in Vancouver – Strata Fees Explained

Mon, 11 May 2009 19:01:17 +0000

When you own a condominium in BC you will have to pay a maintenance fee (strata fee) every month. The money is used by the strata corporation to pay the expenses of the development.

How are strata maintenance fees determined?

Your individual strata maintenance fee is assessed by taking the total cost of the strata’s expenses and dividing that by the unit entitlement of your strata lot. The unit entitlement is related to the square footage of each strata lot.

Where does the maintenance fee money go?

There are two funds that every strata corporation in BC must maintain (and are funded by the maintenance fees): an operating fund an a contingency reserve fund. The operating fund is what is used to pay for common expenses that occur more than once over the course of a year. The CRF is the fund that is typically used to pay for expenses that occur less than once a year, or more unusual expenses.

What if I don’t pay my strata fees?

According to the Strata Property Act, all owners must contribute to the operating fun and the CRF (by paying their strata fees). Strata fees are due and payable on or before the first day of the month. If an owner fails to pay their strata fees they are contravening the strata corporation’s bylaws and are subject to fines.

The Strata Property Act requires a strata to give two weeks written notice demanding payment and informing the transgressor that further action may be taken. This further action can be in the form of suing, seeking arbitration or putting a lien against the owner’s strata lot.

How much is a typical Vancouver strata fee?

Maintenance fees vary greatly from area to area and building to building. It is difficult to compare maintenance fees directly as they depend on the management style of the strata, as well as the type of amenities that are offered in the building. That being said, you will find that typical strata fees in condominium buildings in downtown Vancouver tend to range from a low near $0.25/sq ft up to nearly $0.45/sq ft. More commonly the number falls closer to around $0.35/sq ft.

Please Donate

On June 22nd, 2009 I will be attempting to break the record for the most ascents of the Grouse Grind for charity. The Royal LePage Shelter Foundation is an incredible organization which is there to help women and children suffering from domestic abuse. Of every dollar donated, 100% goes directly to those in need (Royal LePage covers all administrative costs of the charity).

Donate to the Royal LePage Shelter Foundation

More Info on Vancouver Real Estate

If you’d like to learn more about the Vancouver real estate market generally you can check out this page.

Are you thinking of buying or selling, or just have questions then you can contact me here or send me a quick email.

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