Tuesday, July 10, 2012

Sub Million Dollar homes for sale on Vancouver's West Side


With the new mortgage rules, which came into effect on July 9th, we now have a situation where CMHC insurance will no longer insure homes in excess of $1 million.

Not too long ago you couldn't find any detached single family homes listed for sale on the West Side of Vancouver for under $1 million.

Will the new regulations change that?

Above is a screen shot of the MLS taken this evening.

The map isn't empty... six lowly dots now appear on the screen (two of which are lease properties on Musqueam land).

It will be interesting to chart what sort of changes the real estate landscape creates as the year moves along.

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6 comments:

  1. AnonymousJuly 11, 2012 at 12:53 AM

    I recall looking at houses in Dunbar around 2006 or so, that were priced around $850-900K and even my R/E agent thought that was ridiculously expensive; now look where we are. I fully expect to see prices back to that level or less in the near future.

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  2. ManfredSteynJuly 11, 2012 at 10:22 AM

    I'm picturing a rapid outbreak of the measles, starting around Marpole...

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  3. CanAmericanJuly 11, 2012 at 2:37 PM

    This will be a very interesting visual to watch trend.

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  4. AnonymousJuly 11, 2012 at 4:22 PM

    @ManfredSteyn yes! So funny. Marpole used to be the 'dive' of the westside. Nothing has changed - except prices have skyrocketed. I still don't know why people would live down there LOL.

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  5. AnonymousJuly 12, 2012 at 8:33 AM

    Just curious, why is Marpole bad? It looks ok west of Granville.

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