Terra Nova Townhouses and Single Family Homes

Terra Nova Townhouses and Single Family Homes :

Home owners enjoy rapid rise in their home values over the past 5 years. The housing estate consisted of detached single family homes and strata linked townhouses . The future outlook for the neighbourhood is enhanced with the planned housing developments around the Dover/Olympic Oval neighbourhood.

Terra Nova Village Shopping Plaza. Terra Nova is self-sufficient with it's own strip shopping plaza. The anchored tenant is national grocery chain, Save-On-Foods supported many national and local businesses like Royal Bank, CoastCapital Savings, Starbucks, Dairy Queen, Pizza Hut and other merchants catering to the needs of Terra Nova's residents.

Recreation: A very popular outdoor destination for residents of Terra Nova is The West Dyke Trail which connects Terra Nova with Garry Point Park. Richmond residents are taking on to walking, jogging and cycling along this trail. The free public sporting amenities for residents of Terra Nova include a football field, tennis and basketball courts.

If you are interested to look for a home in Terra Nova, you can contact me at Shali@shaw.ca

Richmond Housing

The Richmond housing market remains very active and bullish for February 2010. The market for older townhouses between 385 to $425,000 is very strong, the is a pent-up demand for such properties.

Older home on a large lot in prime Richmond location are also in good demand, driving prices to the $800,000+ level. It is easy to understand that the Richmond housing market has more op-side potential Richmond townhouses are in relatively higher demand that detached houses and condos.

The number of active listing and sales picked up in February after the lower seasonal listings and sales over the past 3 months. The active listings and monthly sales ratio is considered a "Seller Market" with supply-demand pressure for houses prices to move higher.

The monthly average and median prices for February remain positive and registered higher values than the previous months. There was a substantial jump in the average selling price from around $780,000 to around $835,000

Market for Million Dollar Mansions
The demand for older homes on large lots over the past few weeks were very strong as more home builders are actively buying such properties. Such building lots when eventually new home being built on them are prices and sold at $1,600,000 to $1,800,000 range.

Based on sales activities and multiple offer situations mainly from Richmond new home builders, older homes with lot size between 8,000 to 9,000 in the popular Broadmoore subdivision were snatched up at prices $850,000 - $900,00+. Similar older homes on large lots on arterial roads and those less favorable locations facing "T" junctions are priced much less at around $700,000