{"id":1559,"date":"2016-04-11T09:41:23","date_gmt":"2016-04-11T16:41:23","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1559"},"modified":"2016-04-11T09:42:01","modified_gmt":"2016-04-11T16:42:01","slug":"detached-bungalows-among-vancouvers-hottest-offerings","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/04\/detached-bungalows-among-vancouvers-hottest-offerings\/","title":{"rendered":"Detached Bungalows Among Vancouver\u2019s Hottest Offerings"},"content":{"rendered":"<p style=\"text-align: justify;\">Long recognized as Canada\u2019s most active real estate market, Vancouver is no stranger to setting industry milestones on a regular basis, and the findings of a recent study revealed that it has broken another record: prices of detached bungalows.<\/p>\n<p style=\"text-align: justify;\">The latest Royal LePage House Price Survey found that the detached bungalow segment broke the $1-million mark on a year-over-year basis last March, shooting up by a staggering 26%.<\/p>\n<p style=\"text-align: justify;\">\u201cThis is completely unprecedented,\u201d Regional Manager Alan Stewart told News Talk 980 CKNW.<\/p>\n<p style=\"text-align: justify;\">\u201c32.9% is the number for the detached bungalow year over year change from last year and I think that is driven predominantly by developers looking for properties which are slated for redevelopment,\u201d he explained.<\/p>\n<p style=\"text-align: justify;\">Additionally, the report noted that 2-storey properties grew by 24% to $1.4 million, while prices for condo units increased by 9.5% to a $487,000 average. An influx of Albertans to BC is projected to further inflame the latter\u2019s housing market, as well.<\/p>\n<p style=\"text-align: justify;\">Canada\u2019s red-hot metropolitan areas remain sellers\u2019 markets, Stewart said.<\/p>\n<p style=\"text-align: justify;\">\u201cThe increases are all a direct result of virtually no product available. If you drive around the streets of Vancouver, North Vancouver, Burnaby, Coquitlam, West Vancouver you will either see a sold sign or no signs at all,\u201d according to the Royal LePage manager.<\/p>\n<p style=\"text-align: justify;\">\u201cIn terms of for sale signs, anything that is priced remotely closed to reasonably is seeing multiple offers and so it is just a bit of a phonetic market,\u201d Stewart concluded.<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/detached-bungalows-among-vancouvers-hottest-offerings-205613.aspx\" target=\"_blank\">Detached Bungalows Among Vancouver\u2019s Hottest Offerings<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Long recognized as Canada\u2019s most active real estate market, Vancouver is no stranger to setting industry milestones on a regular basis, and the findings of a recent study revealed that &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/04\/detached-bungalows-among-vancouvers-hottest-offerings\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1559","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Detached Bungalows Among Vancouver\u2019s Hottest Offerings &#8226; 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