Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Feb. 2, 2021

Home buyer demand depends on property type

Attached and apartment homes are in demand across Metro Vancouver* while detached home buyers are facing less competition today.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,818 in January 2018, a 19.4 per cent increase from the 1,523 sales recorded in January 2017, and a 9.8 per cent decrease compared to December 2017 when 2,016 homes sold.

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Posted in Market Updates
Jan. 9, 2018

Steady Sales and Diminished Listings Characterize 2017 for the Metro Vancouver Housing Market

After reaching record levels in 2015 and 2016, Metro Vancouver home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity.

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a 9.9 per cent decrease from the 39,943 sales recorded in 2016, and a 15 per cent decrease over the 42,326 residential sales in 2015.

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Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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Posted in Market Updates
July 13, 2017

Demand for condominiums continues to outstrip supply

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,893 in June 2017, an 11.5 per cent decrease from the 4,400 sales recorded in June 2016, an all-time record, and a decrease of 10.8 per cent compared to May 2017 when 4,364 homes sold.

Last month’s sales were 14.5 per cent above the 10-year June sales average.

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Posted in Market Updates
June 13, 2017

Market activity picks up in May

Home buyer activity returned to near record levels across the Metro Vancouver* housing market in May.

Residential property sales in the region totalled 4,364 in May 2017, a decrease of 8.5 per cent from the 4,769 sales in May 2016, an all-time record, and an increase of 22.8 per cent compared to April 2017 when 3,553 homes sold.

Last month’s sales were 23.7 per cent above the 10-year May sales average and is the thirdhighest selling May on record.

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Posted in Market Updates
June 1, 2017

WHAT IS THE REAL VALUE OF YOUR HOME?

 

FIND OUT HOW MUCH YOUR HOME IS WORTH

The only real value of your home is what a buyer and a seller shake hands on. But if you're selling or buying a home or paying taxes on one, you need a realistic dollar figure to work from.

And that is going to depend on whom you ask. Your home has different value to different people and institutions, and many percentage points can separate the assessed value from the price your home actually fetches on the market. (Isn't that why you immediately suspect something's very wrong with a house that's being offered at below assessed value?)

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Posted in Market Updates
May 10, 2017

Condominiums and townhomes in high demand across Metro Vancouver

Residential property sales in the region totalled 3,553 in April 2017, a 25.7 per cent decline compared to April 2016 when 4,781 homes sold and a 0.7 per cent decrease from the 3,579 sales recorded in March 2017.

April sales were 4.8 per cent above the 10-year average for the month.

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Posted in Market Updates
May 3, 2017

Vancouver Not at Risk of Housing Crash: RBC

A crash in the Vancouver real estate market is “unlikely, given still-solid economic underpinnings,” according to a national housing report released by RBC April 24.

Although it identified affordability “stress” as a key risk factor in the Vancouver housing market, and despite a “small improvement… mostly in the single family market” in pricing in late 2016, the report observed that prices are on the rise again and foreign buyers seem undeterred by additional taxation.

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Posted in Market Updates
May 1, 2017

HOW MUCH DEPOSIT SHOULD I PUT DOWN ON A PRESALE DEVELOPMENT?

The question about deposits and what is standard is one that often comes up when considering buying a presale home.

Most presale new homes require a total deposit of 15–20% of the purchase price. However, some developers offer limited opportunities to buy with a 5% or 10% deposit, particularly if it is getting close to completion. Developers are often subject to requirements from their banks as well which is why a 15–20% deposit is needed in most cases or why they can’t be more flexible at times.

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Posted in Market Updates
April 10, 2017

KNOWING WHEN TO BUY

For many, home ownership is considered to be a rite of passage. Whether it’s a house or a condo, people of all stages of life want to own their own home. Currently, 2 out of every 3 Canadian households own the home they live in and real estate is still considered to be one of the best long-term investments to have in your portfolio.

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Posted in Market Updates