Tiere
zi an ear ee,

A GREAT Blue Heron patiently waiis for dinner at North Van-
couver’s Mosquito Creek Marina.

; tesale market peaking?

_RECENT..HOUSE price
statistics suggest that values
in Vancouver’s resale hous-

“ing market may be ‘“‘peak-

”

ing,’’ according to a recent
survey of Canadian House
prices. -

On the one. hand, the
summer 1993 issue’ of . the
Royal LePage Survey of
.Canadian House Prices in-
dicates that year-over-year
‘increases in selling prices of
homes in the Lower
Mainland continue to be the
highest in Canada. In some
instances, prices have: in-
’ flated by more than 30%.

According to the’ survey,
the median price of a
three-bedroom bungalow in
the Vancouver area is cur-
rently $260,000, $18,000
higher than.in April 1993
and $46,000 (23.5%) higher

changing,

than last year.
Price increases for con-
dominium apartments have

grown to $148,000, 28.79%.

higher than a year ago.

But things may well be
said Royal
LePage vice-president Larry
Ferster. He points to Van-
couver’s West side, where
all seven of the property
categories surveyed regis-
tered slight price declines
over the past three months.

The’ price of a detached
bungalow, for example,
dropped .three per cent to
$465,000.. And in North
Vancouver, ‘prices for all
housing categories have re-
mained stable since April.

Overall, the market is in-
creasingly slower for more
expensive properties in
many areas, according to
Ferster,-and this is cooling

WEA

Asociates 986-9511

the pace of price increases,

The. median price for an
executive detached - two-
storey home is $304,000, up
16.9% from a year ago.

This compares to
creases in the 20-30% range
for more affordable proper-
ties.

‘*} believe that we are see-
ing the beginnings of a
change in the market cycle.
Things are topping
off,’’said Ferster.

Ferster explained that in-
ventories of homes listed for
sale have increased. This has
taken the pressure off
buyers to make a quick
decision and not bargain too
strongly on price,

But overall, he said, there
is growing buyer resistance
to current housing prices
throughout the market.

in--

Fi =
vA

980-2390
986-9511

le
3 bdrms plus full unfinishes basement
both sides

° 3 Berm duplex

¢ Near golf and shopping
e Garibaldi Estates

© $729,000

on

REALTY LTD

® Large tot
© Garibaldi H

WAE™
es Associates

*Ba i
© Underground services Ff
ighlands * $429,000 ft

© 40°x100" fot
© Fenced yard

© $119,000

e 2 Bdrm
° 1.5 Baths
© Carport

© 923 sq.ft.

e Built 1976

e Walking to shops
@ $4,000 down -
e$609/MO.

© New appliances

-® New carpeting .

© New paint
e Very low taxes

REALTY LTD

[SH
E OF THE FUTURE

WHERE HOME-OWNING IS STILL EASY

® Golfing * Skiing - Alping or cross-country
* Serious hiking ® Fishing - salt or fresh

© Birding © Neighbourhoods where you know
© Great rec centre your neighbours

EXCELLENT VALUE
_'.s Spacious corner suite
: 729 sq. ft., one bedroom
— indoor pool plus recre-
ational facilities #204 -
2016 Fullerton -@
.. Wosdcroft 2

HON

H® Parks
© Walking trails
* Biking traiis
#¢ Sailing