50 - Friday, September 2, 1988 - North Shore News REAL ESTATE Housing saies up SINGLE FAMILY homes sales in Vancouver outstrip- ped those in other municipalities of the Lower Mainland in the first half of 1988. Of 10,562 homes sold through the Multiple Listing Service of the Real Estate Board of Greater Van- couver, 3,292 were sold in the City of Vancouver, with 1,959 sales on Vancouver's East Side and 1,333 sales on the city’s West Side. Sales in the Municipality of Rich- mond totalled 1,275 units, followed by North Van- couver with 1,074 and Bur- naby with 1,040. A further 3,537 single family homes were sold in other municipalities served by the Vancouver board, in- cluding Coquitlam (841); Port Coquitlam (478); South Delta (478); Maple Ridge/ Pitt Meadows (807); New Westminster (249); Port Awards From page 48 e Excellence in land development. * Excellence in renova- tion. ® Technological innova- tion — builder © Technological innova- tion — non-builder Moody (134); West Van- couver (550). The Greater Vancouver Multiple Listing Service also registered a fur- ther 344 single family sales in other communities throughout British Colum- bia. Total residential sales in the first half of 1988, in- cluding condominium, multi-family and residentiz!] lots, numbered 15,301 units and at the end of June there were 9,884 residential pro- perties still available on the Multiple Listing Service. While active, the market is remaining stable, says Gary Brady, President of the Real Estate Board of Greater Vancouver. He says that employment and incomes are up on the Lower Mainland and migration to B.C. is also rising. No dramatic increase in mortgage rates is expected, so demand for housing will continue. As long as the supply of both new and re- sale housing remains at cur- rent levels, the market will be able to satisfy most hous- ing needs. Brady cautions that repor- ting of simplistic average housing prices leads to speculation of rapidly rising housing costs. Of the 15,301 residential units sold in the first six months this year, more than one third — 5,808 — sold for under $120,000. There were 2,933 units sold between $120,000 and $150,000 and 3,729 sales be- tween $150,000 and $250,000. Higher priced housing is available, as evidenced in the 1,831 sales over $250,000 with 248 of those units — a Vancouver board record — selling at over $500,000. This relatively small number of high priced units, when added to the total dollar volume of sales for calculating the average price, tends to distort the overall picture, says Brady. honor excellence cording to established criteria by a three member panel of housing experts from government and in- dustry. “The winners of these awards represent the highest calibre within the residential construction industry,’’ said Molnar. ‘‘They not only help to establish the stan- dard for the future, they pave the way for the recog- nition of housing as a major industry in the province of British Columbia.”’ For more information, contact: CHBA-BC at 432- Entrants are judged ac- CHBA-BC President Andre {$49,000 | HOME ON THE WATERFRONT : 4 bedroom, 540 sq.ft. floating home, Located in . H Lynnwood Marina is an ideal alternative to apart- f ment living, or why not use it as an office space. Very motivated vendors looking for offers on $49,000. 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