OL - Friday, April 18, 198% - North Shore Xews Mee 8 Reaw Estate Market absorption steady for homes MARKET. ABSORPTION for single and semi-detached . units held steady during February according to a re-. cent study by the Canada Mortgage and Housing Cor- poration. An upturn in completions over January pushed inven- tory higher. Prices of newly completed units continue to rise. Corapletions turned up in February to 951 units from 908 units last month. Units * completed by centre are: 678 units in Vancouver, 135 untits in Victoria, $8 units in Kelowna and 44 units in Matsqui. In remaining .cen- tres, completions are below . Sunitseach. | Fewer completions are ex- pected in Masch since the starts trend is still ceclining. February’s actua) starts in- crease is small and wi:' not change the short term com- pletions trend: A total of 895 units completed during March is forecast. : Demand is: stable during the last two. months. Ab- sorption totals 864 units dur- By centre the ‘situation is different. Absorption is “up in Vancouver to 636 units compared to $60 units in January. Higher completions in February ‘ (678) over January (574) accounts for this rise. Slightly higher absorption in Victoria prevails also in conjunction with mere com- pletions in February...Ab- sorption. is down in most other centres in line with . completions. . In total, absorption is the same. Next month's absorp-. tion is forecast at 970 units. Inventory is higher to 1,395 units. All centres have more inventory over January except Nanaimo and Prince George. A turning point in inven- tory levels is very near. One reason is seasonality and another is an expected : Sm provement in demand. Seasonality ‘in starts, completions, and absorption results in a seasonal inven-.. tory pattern. Inventory levels _ usually peak in the winter, months. Absorption will improve following. past casing in mortgage rates. Calling turn- ing points has a low success tate, Nonetheless March in- ventory is forecast lower at 1,320 units, making Febru- . ary the short-term peak. - House prices in Victoria continue rising. Median price is $144,450 in January . 1988 up over the previous ‘three . months. Vancouver prices are up 13 per cent Over a:year carlier from $135,000 to $152,900, Condominium comple- ions, absorption, and_in- ventory levels are up in Feb- ruary. Vancouver CMA’s inventory cdged down. Completions arc up for the third month in a row. February's total is 529 units compared to 487 in January, 456 in December, and 361 in Novembcr. Trend-level completions are increasing foilowing moderate ‘rises since Junc 1987, February completions are distributed as follows: 338 units in Vancouver, 89 units in Victoria, 62 units in Mat- squi, 30 units in Kamloops, and 10 units in Kelowna. Compared to last month_ completions are up except in Vancouver and in Kelowna. Demand. is stronger in February. Absorption totals 476 units compared to 386 last month. Pee Vancouver's ‘absorption is up despite fewer complctions in February. Absorption is up in other centres except Kelowna. Inveatory is up by 53 units to 1,507 units.at the end of February. Compared to one year age, inventory is a tittle higher, (1,466 units in Feb- ruary 1987). At that time in- ventory was heading down, this tisne it is heading up. » | : - gs #201-657 MARINE DRIVE. QP a ‘WEST V. VER, B.C. ¢3 Montreal Trust = sco o BROOKS ALDEN 3657 SUNSET BLVD. OPEN SATISUN 2-4: ANNOUNCEMENT At Montreal Trust we are pleased ic announce BROOKS ALDEN has joinec our. sales force. Brooks has spent a number of years as a Senior Banker and Business Consultant and has been a resident of the North Shore for the past 15 years. Let Brooks put his enthusiasm and extensive business and financial knowledge to work for you. Call Brooks for all your Real , Estate needs. Office: 926-5424, Home: 986-2694. Fantastic value! 3-4 borms. Updated kitchen & bathroom. Very traditional classic chars in beamed liv rm & din rm area. Hiw floor throughout. Waik to Cleveland Elem, (dual stream Eng. & Fr. Imm.) Hanctsworth Secondary. , Ei CAROLYN STENSON 925-4153, BROOKS ALDEN 986-2694 Village Bus ete. Exceitent family home — outstanding bariy atea. SLLtebhtoseosetobsedaebaes LESHLLLDLEEL ELLE SES: HOW TO LIVE ROYALLY IN. YOUR RETIREMENT © ag sti ve $40 sainutes from ocean beaches */60 minutes. from downtown Vancouver. In a quiet’ residential setting : of the Matsqui/Abbotsford momar area, Crown Point Develop- ~~ 7 -ment Corporation . offers a THE ULTIMATE IN RESORT STYLE LIVING! pemiuf selection of quay residenices. From the 1,250 © Fede ey i sqft. ‘garden court patio et galdl 2 Oo ony, SO ; ss os agi. home, to the. two-storey a td Brcsie oO i , ” cathedral-styled townhouse, and the elegantly appointed executive villa, these homes stand in. a class. by themselves. ; Monthly maintenance fee of only $100 includes: Security checks © Heating 0. Electricity 2 Water © Fire &, Liability Ins. 0 ° Building Maintenance 0 Lawn & Garden Maintenance 1’ Grounds & Yard Lighting 0: Garbage G ASS “FEATURES INCLUDE: ® Gas. fireplace. « Private . courtyard entrances * Country style kitchens ©.“G.E.” kitchen appliances * Master bedrooms with Roman tubs © Wall to wail ‘carpets ° Large storage area * Attached carports ‘@ RY... parking © Lighted landscaped. grounds © Private: entrance gatés.° Activity friendship cen- tre © Party, craft and. outdoor facilities’ ¢ Security “intercom. “a, * dust completed. 9 hole putting green and lawn oo bowling court ae Shop and compare your present home operating costs, then phone Susan Shannon (604) 852-3188 Crown Point Development Corp. . ® Topping all of this off i is our central location, close to many “churches, tennis courts, swimming pool, curling club, library,.M.S.A. Hospital and 3 major shopping centres (Eaton's and Woodward's) and for . you golfers, only 5 minutes from Ledgeview Golf &. Country Club (memberships avaltable}. ; Before making a. final decision on your retirement home, you owe it to yourself.to see CROWN POINT. VILLAS DAILY 10-5 PM cae PEEPESE SEE EEE E EELS SEED ELE EEE E PEPE ESLER ETI EEEE SESE EEE A eeevenentrepuvintaeeanissaneenssanena’