REBGV Report

More supply and less demand seen across Metro Vancouver Housing Market

Tue, 09 Oct 2018 23:21:11 GMT

The Real Estate Board of Metro Vancouver reports:

While the supply of homes for sale has increased across Metro Vancouver, home buyer demand has remained below typical levels for this time of year. Last month’s Metro Vancouver sales were 36.1% below the 10-year September average. Since spring 2018, home listings have risen to levels we haven’t seen in over four years. Despite better choice, one of the reasons buyer demand has moved away from the fast pace of 2015 to 2017 can be attributed to the new mortgage stress test rules. Prices have not adjusted, and buyer’s are now left with less buying power. It is important for both home buyers and sellers to understand what these trends mean to them and what strategies they can deploy in this market

The key to success in any market is to be well prepared. My top priority is to help you navigate these changes in all types of market conditions. If you are planning a change in lifestyle, let's work together to make it happen. I look forward to working for you. Regards, Dodi 604.644.3634

The MLS® HPI Benchmark Price of residential properties in September 2018 vs September 2017 were:

Metro Vancouver: - 4.5% for a single family home, +7.4% for a condo, and +6.4% for a townhome
North Vancouver: -5.4%% for a single family home, +6% for a condo, and +5.9% for a townhome
West Vancouver: -11.4% for a single family home and +5.2% for a condo
Coal Harbour +7.9% for a condo

Market types for September 2018

Metro Vancouver's Detached properties is a buyer's market at 7.6% with 513 sales out of 6,787 listings
Metro Vancouver's Condo properties is a balanced market at 17.7% with 816 sales out of 4,616 listings
Metro Vancouver's Townhome properties is a balanced market at 16% with 253 sales out of 1,584 listings
North Vancouver Detached properties is a buyer's market at 8.2% with 41 sales out of 498 listings
North Vancouver Condo properties is a balanced market at 17.9% with 57 sales out of 318 listings
North Vancouver Townhome properties is a balanced market at 19.4% with 20 sales out of 103 listings
West Vancouver Detached properties is a buyer's market at 4.3% with 25 sales out of 582 listings
West Vancouver Condo properties is a buyer's market at 6.3% with 7 sales out of 111 listings
Coal Harbour Condos are in a buyer's market at 11% with 11 sales out of 100 listings

Read your full September 2018 reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Burnaby, Coquitlam, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on October 2nd, 2018 from the Real Estate Board of Greater Vancouver

Home Buyer Demand in Metro Vancouver below historical averages in August

Mon, 10 Sep 2018 22:52:31 GMT

The Real Estate Board of Metro Vancouver reports:

The Federal Government’s B20 stress test continues to impact buyer's in our residential market, and has eroded buying power by approximately 20%. These changes have had strong impact on first time home buyers, people renewing their mortgages and buyer’s looking to move up the property ladder. The reality of lower buying power can clearly be seen in last month’s sales, which were 25.2% below the 10-year August sales average in Metro Vancouver, and are mainly the result of slow detached sales. Over the last 3 months we have seen less frenetic housing demand, more balanced conditions in many regions, fewer multiple offers and more choice for buyers. Metro Vancouver currently sits in a buyer’s market for detached houses and a seller’s market for condos and townhomes.

The MLS® HPI Benchmark Price of residential properties in August 2018 vs August 2017 were:

Metro Vancouver: - 3.1% for a single family home, +10.3% for a condo, and +7.9% for a townhome
North Vancouver: -3.6%% for a single family home, +6.7% for a condo, and +6.4% for a townhome
West Vancouver: -11.2% for a single family home and +5.5% for a condo
Coal Harbour +16% for a condo

Market types for August 2018

Metro Vancouver's Detached properties is a buyer's market at 8.8% with 579 sales out of 6,577 listings
Metro Vancouver's Condo properties is a seller's market at 26.4% with 1,031 sales out of 3,905 listings
Metro Vancouver's Townhome properties is a seller's market at 20.5% with 295 sales out of 1,442 listings
North Vancouver Detached properties is a buyer's market at 7.6% with 32 sales out of 422 listings
North Vancouver Condo properties is a seller's market at 32.7% with 72 sales out of 111 listings
North Vancouver Townhome properties is a seller's market at 26% with 25 sales out of 96 listings
West Vancouver Detached properties is a buyer's market at 4.7% with 27 sales out of 579 listings
West Vancouver Condo properties is a balanced market at 15.4% with 14 sales out of 91 listings
Coal Harbour Condos are in a buyer's market at 12.6% with 11 sales out of 87 listings

Read your full August reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Burnaby, Coquitlam, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on September 6, 2018 from the Real Estate Board of Greater Vancouver

Less Upward Pressure On Metro Vancouver Home Prices In July 2018

Mon, 13 Aug 2018 21:52:03 GMT

The Real Estate Board of Metro Vancouver reports:

"Summer is traditionally a quieter time of year in real estate, this is particularly true this year. With increased mortgage rates and stricter lending requirements, buyers are opting to take a wait-and-see approach for the time being, and with fewer buyer’s active in today’s market, we’re seeing less upward pressure on home prices across the region. Last month’s sales were 29.3% below the 10-year July sales average. Overall Metro Vancouver sits in a balanced market at 17% of properties sold with opportunities for both buyer’s and seller’s. If we break it down by category: sales of detached homes sit in a buyer’s market at 9.7%, condo sales sit in a seller’s market at 27.2% and townhomes sit in a seller's market at 22%.

The market has begun to absorb and adjust to the new realities. We expect to an uptick in sals volumes and in some prices during the second half of 2018."

The MLS® HPI Benchmark Price of residential properties in July 2018 vs July 2017 were:

Metro Vancouver: -1.5 % for a single family home, +13.6% for a condo, and +12.1% for a townhome
North Vancouver: -2.4%% for a single family home, +10% for a condo, and +8.7% for a townhome
West Vancouver: -8.2% for a single family home and +8.5% for a condo
Coal Harbour +16% for a condo

Market types for July 2018

Metro Vancouver's Detached properties is a buyer's market at 9.7% with 651 sales out of 6,713 listings
Metro Vancouver's Condo properties is a seller's market at 27% with 1,084 sales out of 3,985 listings
Metro Vancouver's Townhome properties is a seller's market at 22% with 314 sales out of 1,413 listings
North Vancouver Detached properties is a buyer's market at 11.4% with 52 sales out of 470 listings
North Vancouver Condo properties is a seller's market at 33% with 76 sales out of 228 listings
North Vancouver Townhome properties is a balanced market at 20% with 19 sales out of 95 listings
West Vancouver Detached properties is a buyer's market at 5.4% with 32 sales out of 596 listings
West Vancouver Condo properties is a balanced market at 18.4% with 18 sales out of 98 listings
Coal Harbour Condos are in a balanced market at 16% with 14 sales out of 87 listings

Read your full July reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Burnaby, Coquitlam, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on August 2nd, 2018 from the Real Estate Board of Greater Vancouver

Metro Vancouver | Better Selection for Home Buyer's in June 2018

Mon, 09 Jul 2018 22:14:12 GMT

The Real Estate Board of Metro Vancouver reports:

"Rising interest rates, high prices and more restrictive mortgage requirements are among the factors dampening home buyer activity today. With buyer’s less active, especially in the detached market, the supply of homes for sales has accumulated to levels we haven’t seen in the last few years. Last month’s overall residential sales for Metro Vancouver were 28.7% below the 10-year average for June. However, condo and townhome sales in Metro Vancouver are still performing in Seller’s markets."

The MLS® HPI Benchmark Price of residential properties in June 2018 vs June 2017 were:

Metro Vancouver: +0.6% for a single family home, +17.2% for a condo, and +15.3% for a townhome
North Vancouver: +0% for a single family home, +14.1% for a condo, and +11.9% for a townhome
West Vancouver: -5.8% for a single family home and +10.1% for a condo
Coal Harbour +18.4% for a condo

Market types for June 2018

Metro Vancouver's Detached properties is a buyer's market at 11.4% with 778 sales out of 6,796 listings
Metro Vancouver's Condo properties is a seller's market at 33% with 1,246 sales out of 3,769 listings
Metro Vancouver's Townhome properties is a seller's market at 27.7% with 373 sales out of 1,346 listings
North Vancouver Detached properties is a balanced market at 17% with 80 sales out of 470 listings
North Vancouver Condo properties is a seller's market at 37.9% with 81 sales out of 214 listings
North Vancouver Townhome properties is a seller's market at 34.4% with 33 sales out of 96 listings
West Vancouver Detached properties is a buyer's market at 5.4% with 34 sales out of 630 listings
West Vancouver Condo properties is a buyer's market at 14.1% with 13 sales out of 92 listings
Coal Harbour Condos are in a balanced market at 18% with 15 sales out of 82 listings

Read your full June reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Burnaby, Coquitlam, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on July 5, 2018 from the Real Estate Board of Greater Vancouver

Metro Vancouver Home Buyer's And Seller's Less Active In March 2018

Mon, 16 Apr 2018 22:44:40 GMT

The Real Estate Board of Metro Vancouver reports:

Buyer caution, high prices, new tax announcements, rising interest rates and stricter mortgage requirements are among the factors affecting home buyer and seller activity today. March 2018's residential sales were 23% below the 10-year March average. Despite that, even with lower demand, upward pressure on prices will continue as long as the supply of homes for sale remains low. Last month was the quietest March for home listings since 2009, and the total inventory, particularly in the condo and townhome segments, of homes for sale, remains well below historical norms."

The MLS® HPI Benchmark Price of residential properties in March 2018 vs March 2017 were:

Metro Vancouver: +7.4% for a single family home, +26.2% for a condo, and +17.7% for a townhome
North Vancouver: +7.8% for a single family home, +24.3% for a condo, and +10.7% for a townhome
West Vancouver: +4.5% for a single family home and +18.5% for a condo
Coal Harbour +19.4% for a condo

Market types for March 2018

Metro Vancouver's Detached properties is a buyer's market at 13.7% with 734 sales out of 5,346 listings
Metro Vancouver's Condo properties is a seller's market at 61% with 1,356 sales out of 2,224 listings
Metro Vancouver's Townhome properties is a seller's market at 45.6% with 395 sales out of 867 listings
North Vancouver Detached properties is a balanced market at 19.6% with 67 sales out of 341 listings
North Vancouver Condo properties is a seller's market at 92.1% with 117 sales out of 127 listings
North Vancouver Townhome properties is a seller's market at 53.7% with 29 sales out of 54 listings
West Vancouver Detached properties is a buyer's market at 5.4% with 26 sales out of 479 listings
West Vancouver Condo properties is a seller's market at 22.6% with 14 sales out of 62 listings
Coal Harbour Condos are in a seller's market at 35.7% with 20 sales out of 56 listings

Read your full March reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Burnaby, Coquitlam, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on April 3, 2018 from the Real Estate Board of Greater Vancouver

31 Cost saving programs for buyers and sellers in BC/Metro Vancouver

Mon, 09 Apr 2018 17:52:29 GMT

Here are 31 Cost saving programs for buyers and sellers in British Columbia and Metro Vancouver

Metro Vancouver Home Buyers Show Caution Before 2018 Spring Market

Mon, 12 Mar 2018 18:55:14 GMT

The Real Estate Board of Metro Vancouver reports: In February, home buyers in North Vancouver remain active in all categories, however, home buyers across other Metro Vancouver cities are showing caution around property prices, new mortgage rules, rising interest rates and new tax rules. This buyer caution is mainly target at detchaed properties, while the supply of apartment and townhome properties is still unable to meet demand. Spring is traditionally the busiest time of year for home buyers and sellers inour market. We'll wait to see how they react to the taxes and other policy measures that our provincial and federal governments have introduced so far this year."

The MLS® HPI Benchmark Price of residential properties in February 2018 vs February 2017 were:

Metro Vancouver: +8.2% for a single family home, +27.2% for a condo, and +18.2% for a townhome
North Vancouver: +6.7% for a single family home, +24.3% for a condo, and +14.3% for a townhome
West Vancouver: +5.9% for a single family home and +26.2% for a condo
Coal Harbour +17.1% for a condo

Market types for February 2017

Metro Vancouver's Detached properties is a buyer's market at 12.4% with 628 sales out of 5,061 listings
Metro Vancouver's Condo properties is a seller's market at 58.4% with 1,188 sales out of 2,034 listings
Metro Vancouver's Townhome properties is a seller's market at 40.7% with 342 sales out of 841 listings
North Vancouver Detached properties is a balanced market at 17.9% with 58 sales out of 324 listings
North Vancouver Condo properties is a seller's market at 62.4% with 88 sales out of 141 listings
North Vancouver Townhome properties is a seller's market at 39.1% with 18 sales out of 46 listings
West Vancouver Detached properties is a buyer's market at 5.9% with 24 sales out of 494 listings
West Vancouver Condo properties is a balanced market at 19.4% with 12 sales out of 62 listings
Coal Harbour Condos are in a balanced market at 19.6% with 11 sales out of 56 listings

Read your full February reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Burnaby, Coquitlam, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on March 2, 2018 from the Real Estate Board of Greater Vancouver

Steady Sales Characterize 2016 Metro Vancouver Housing Market

Sat, 06 Jan 2018 00:14:00 GMT

The Real Estate Board of Metro Vancouver reports:

“After reaching record levels in 2015 and 2016, Metro Vancouver’s home sales moved toward more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity - especially in the condo and townhome categories. Metro Vancouver’s home sales were the third highest we’ve seen in the past ten years while the home listing total was the second lowest on record for the same period. 2017’s sales were 9.7% above the 10-year average, and home listings were 4.4% below the 10-year average."

With over 2,300 real estate transactions and over 28 years of helping generations of people realize a great life on the North Shore and in Coal Harbour, my business is you! Ensuring you make informed decisions for all your real estate needs is 2018 is my mission. I sincerely look forward to working for you. Regards, Dodi 604.644.3634

The MLS® HPI Benchmark Price of residential properties in December 2017 vs December 2016 were:

Metro Vancouver: +7.9% for a single family home, +25.9% for a condo, and +18.5% for a townhome
North Vancouver: +5.2% for a single family home, +22.2% for a condo, and +16.1% for a townhome
West Vancouver: +4% for a single family home and +19.5% for a condo
Coal Harbour +24.3% for a condo

Market types for November 2017

Metro Vancouver's Detached properties is a balanced market at 15.6% with 630 sales out of 4,050 listings
Metro Vancouver's Condo properties is a seller's market at 61.3% with 1,034 sales out of 1,687 listings
Metro Vancouver's Townhome properties is a seller's market at 44.5% with 318 sales out of 714 listings
North Vancouver Detached properties is a seller's market at 32.7% with 70 sales out of 214 listings
North Vancouver Condo properties is a seller's market at 70.3% with 78 sales out of 111 listings
North Vancouver Townhome properties is a seller's market at 33.3% with 16 sales out of 48 listings
West Vancouver Detached properties is a buyer's market at 7.7% with 30 sales out of 388 listings
West Vancouver Condo properties is a seller's market at 18.9% with 10 sales out of 53 listings
Coal Harbour Condos are in a seller's market at 29% with 1034 sales out of 53 listings

Read your full October reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on January 3, 2017 from the Real Estate Board of Greater Vancouver

Metro Vancouver Residential Sales 17% Above The 10-Year Avg For November

Tue, 12 Dec 2017 18:02:58 GMT

The Real Estate Board of Metro Vancouver reports:

Vancouver continues to experience above-average demand and below-average supply in our residential real estate markets. In November, Metro Vancouver* saw modest home listing changes and steady buyer demand. Last month, sales were 17% above the 10-year November average, and in-fact, home buyer activity has been operating above long-term averages throughout 2017, particulary in the condo and townhome markets. And, while we have seen an improvement in active listing levels in 2017, we have a longway to go before they rise back to more historically typical levels.

The key to success in any market is to be well prepared, and getting you ready for all market conditions is my top priority. If you are planning a change in lifestyle, let's work together to make it happen. I look forward to working for you. Regards, Dodi 604.644.3634

The MLS® HPI Benchmark Price of residential properties in November 2017 vs November 2016 were:

Metro Vancouver: +6.1% for a single family home, +23.9% for a condo, and +17.9% for a townhome
North Vancouver: +3.7% for a single family home, +23.5% for a condo, and +12.1% for a townhome
West Vancouver: +2.9% for a single family home and +17.4% for a condo
Coal Harbour +18.2% for a condo

Market types for November 2017

Metro Vancouver's Detached properties is a balanced market at 15.3% with 852 sales out of 5,585 listings
Metro Vancouver's Condo properties is a seller's market at 67.4% with 1,514 sales out of 2,247 listings
Metro Vancouver's Townhome properties is a seller's market at 40.7% with 388 sales out of 953 listings
North Vancouver Detached properties is a seller's market at 21.3% with 76 sales out of 357 listings
North Vancouver Condo properties is a seller's market at 81% with 136 sales out of 168 listings
North Vancouver Townhome properties is a seller's market at 57.1% with 32 sales out of 56 listings
West Vancouver Detached properties is a buyer's market at 6.8% with 37 sales out of 541 listings
West Vancouver Condo properties is a seller's market at 20.3% with 13 sales out of 64 listings
Coal Harbour Condos are in a seller's market at 34% with 18 sales out of 53 listings

Read your full November reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on December 4, 2017 from the Real Estate Board of Greater Vancouver

Metro Vancouver Residential Sales Exceed October Historical Average

Wed, 08 Nov 2017 21:47:13 GMT

The Real Estate Board of Metro Vancouver reports:

"Metro Vancouver* home sales exceeded historical levels in October with the majority concentrated in the townhouse and apartment markets; last month's sales were 15% above the 10-year averages for October. Market conditions vary significantly based on property type. The detached market is well supplied with homes for sale, which is relieving pressure on prices. It remains a much different story in the townhouse and apartment markets, buyers here continue to face a limited supply and are seeing upward pressure on prices."

The Federal government's announcement of plans to tighten mortgage requirments for the seventh time in the last eight years also helped spur buyer activity in the short term. Many buyers are trying to enter the market before the changes are in place.

The MLS® HPI Benchmark Price of residential properties in October 2017 vs October 2016 were:

Metro Vancouver: +4% for a single family home, +22.7% for a condo, and +17.7% for a townhome
North Vancouver: +2.1% for a single family home, +21.5% for a condo, and +15% for a townhome
West Vancouver: -5.4% for a single family home and +18.5% for a condo
Coal Harbour +11% for a condo

Market types for October 2017

Metro Vancouver's Detached properties is a balanced market at 16.4% with 955 sales out of 5,830 listings
Metro Vancouver's Condo properties is a seller's market at 65.3% with 1,538 sales out of 2,355 listings
Metro Vancouver's Townhome properties is a seller's market at 52.9% with 495 sales out of 936 listings
North Vancouver Detached properties is a seller's market at 22.1% with 81 sales out of 367 listings
North Vancouver Condo properties is a seller's market at 74.9% with 125 sales out of 167 listings
North Vancouver Townhome properties is a seller's market at 71.2% with 37 sales out of 52 listings
West Vancouver Detached properties is a buyer's market at 5.3% with 29 sales out of 552 listings
West Vancouver Condo properties is a buyer's market at 13.6% with 8 sales out of 59 listings
Coal Harbour Condos are in a seller's market at 48% with 26 sales out of 54 listings

Read your full October reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on November 2, 2017 from the Real Estate Board of Greater Vancouver

Metro Vancouver Apartments and Townhomes Main Driver of Home Sales In September

Mon, 16 Oct 2017 17:20:54 GMT

The Real Estate Board of Metro Vancouver reports:

"Apartment and townhome activity is outpacing the detached home market across Metro Vancouver*. This activity helped push total residentail sales above the historical averages for September 2017. Last month we saw a 25.2% increase in sales over September 2016, and sales 13.1% above the 10-year September average. Detached sales made up 30% of all sales in September and represented 62% of all homes listed for sale on the MLS. This dynamic for detached homes has slowed the pace of upward pressure that we've seen on detached home prices over the last few years. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, currently we sit at 14.5% for detached homes in Metro Vancouver."

The MLS® HPI Benchmark Price of residential properties in September 2017 vs September 2016 were:

Metro Vancouver: +2.9% for a single family home, +21.7% for a condo, and +14.5% for a townhome
North Vancouver: +1.9% for a single family home, +19.5% for a condo, and +7% for a townhome
West Vancouver: -8.5% for a single family home and +15.2% for a condo
Coal Harbour +11% for a condo

Market types for September 2017

Metro Vancouver's Detched properties is a balanced market at 14.6% with 870 sales out of 6,093 listings
Metro Vancouver's Condo properties is a seller's market at 59.6% with 1,456 sales out of 2,445 listings
Metro Vancouver's Townhome properties is a seller's market at 48.2% with 459 sales out of 953 listings
North Vancouver Detached properties is a balanced market at 19.7% with 74 sales out of 376 listings
North Vancouver Condo properties is a seller's market at 69.2% with 108 sales out of 156 listings
North Vancouver Townhome properties is a seller's market at 44.2% with 23 sales out of 52 listings
West Vancouver Detached properties is a buyer's market at 6.4% with 35 sales out of 551 listings
West Vancouver Condo properties is a seller's market at 31.5% with 17 sales out of 54 listings
Coal Harbour Condos are in a seller's market at 35% with 21 sales out of 60 listings

Read your full September reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on October 6th, 2017 from the Real Estate Board of Greater Vancouver

Condominium Sales Drive Metro Vancouver Real Estate In August

Tue, 12 Sep 2017 19:20:27 GMT

The Real Estate Board of Metro Vancouver reports

"Competition for condominiums and townhomes pushed Metro Vancouver* home sales above typical levels in August. First-time home buyers have led a surge this summer in demand for our condominium and townhome markets, with homes priced between $350,000 and $750,000 the subject of intense competition and multiple offers across the region."

The MLS® HPI Benchmark Price of residential properties in August 2017 vs August 2016 were:

Metro Vancouver: +2.2% for a single family home, +19.4% for a condo, and +12.8% for a townhome
North Vancouver: +0.4% for a single family home, +15.9% for a condo, and +5.7% for a townhome
West Vancouver: -6.3% for a single family home and +10.9% for a condo
Coal Harbour +3.2% for a condo

Market types for August 2017

Metro Vancouver's Detched properties is a balanced market at 16% with 918 sales out of 5,732 listings
Metro Vancouver's Condo properties is a seller's market at 75.3% with 1,620 sales out of 2,150 listings
Metro Vancouver's Townhome properties is a seller's market at 50.9% with 469 sales out of 922 listings
North Vancouver Detached properties is a sellers market at 24.5% with 75 sales out of 306 listings
North Vancouver Condo properties is a seller's market at 105.7% with 112 sales out of 106 listings
North Vancouver Townhome properties is a seller's market at 53.1% with 26 sales out of 49 listings
West Vancouver Detached properties is a buyer's market at 6% with 30 sales out of 501 listings
West Vancouver Condo properties is a seller's market at 40.4% with 19 sales out of 47 listings
Coal Harbour Condos are in a seller's market at 41.2% with 25 sales out of 60 listings

Read your full August reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on August 2, 2017 from the Real Estate Board of Greater Vancouver

July 2017 Metro Vancouver Residential Sales Typical For a Summer Market

Tue, 08 Aug 2017 21:43:04 GMT

The Real Estate Board of Metro Vancouver reports

"Home buyer activity returned to more typical summer levels in Metro Vancouver* in July, with sales 0.7% above the 10-year average for the month. Housing demand is inconsistent across the region right now, with pockets of the market still receiving multiple offers while others are not. This varying market-by-market demand is due to a combination of price, property type and location. With a normal summer slow down in buyer activity, we saw the selection of homes for sale in the region edge above 9,000 properties for the first time in 2017.

The key to success in any market is to be well prepared, and getting you ready for all market conditions is my top priority in 2017! If you are planning a change in lifestyle this fall, let's work together to make it happen. I look forward to working for you. Regards, Dodi 604.644.3634

The MLS® HPI Benchmark Price of residential properties in July 2017 vs July 2016 were:

Metro Vancouver: +1.9% for a single family home, +18.5% for a condo, and +11.9% for a townhome
North Vancouver: +0.5% for a single family home, +17.2% for a condo, and +6.1% for a townhome
West Vancouver: -6.1% for a single family home and +14.7% for a condo
Coal Harbour -0.7% for a condo

Market types for July 2017

Metro Vancouver's Detched properties is a balanced market at 16.4% with 987 sales out of 5,838 listings
Metro Vancouver's Condo properties is a seller's market at 61.3% with 1,473 sales out of 2,401 listings
Metro Vancouver's Townhome properties is a seller's market at 53.2% with 500 sales out of 940 listings
North Vancouver Detached properties is a sellers market at 23.5% with 81 sales out of 344 listings
North Vancouver Condo properties is a seller's market at 58.1% with 79 sales out of 136 listings
North Vancouver Townhome properties is a seller's market at 60.7% with 37 sales out of 61 listings
West Vancouver Detached properties is a buyer's market at 8.2% with 41 sales out of 500 listings
West Vancouver Condo properties is a balanced market at 19.6% with 11 sales out of 56 listings
West Vancouver Townhome properties is a seller's market at 26.7% with 4 sales out of 15 listings
Coal Harbour Condos are in a seller's market at 30.8% with 20 sales out of 65 listings

Read your full July reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was current on August 2, 2017 from the Real Estate Board of Greater Vancouver

Demand For Condominiums Continues To Outpace Supply In Metro Vancouver

Mon, 10 Jul 2017 18:09:42 GMT

The Real Estate Board of Metro Vancouver reports

“The imbalance between supply and demand in the condominium market is creating home buyer competition across Metro Vancouver. Two distinct markets have emerged this summer. The detached home market has seen demand ease back to more typical levels while competition for condominiums is creating multiple offer scenarios and putting upward pressure on prices for that property type. Home buyers have more selection to choose from in the detached market today while condominium listings are near an all-time low on MLS®. Detached listings have increased every month this year, while the number of condominiums for sale has decreased each month since February"

With such strong condiitons for Seller's, the key to success in any market is to be well prepared, and getting you ready for all market conditions is my top priority in 2017! If you are planning a change in lifestyle, let's work together to make it happen. I look forward to working for you. Regards, Dodi 604.644.3634

The MLS® HPI Benchmark Price of residential properties in June 2017 vs June 2016 were:

North Vancouver +1.2% for a single family home, +16.6% for a condo, and +8% for a townhome
West Vancouver -4.4% for a single family home, +21.5% for a condo
Coal Harbour -4% for a condo

Market types in June 2017

Metro Vancouver's Detched properties is a seller's market at 24.5% with 2.5 out of every 10 properties sold.
Metro Vancouver's Condo properties is a seller's market at 93.2% with 9.2 out of every 10 properties sold
Metro Vancouver's Townhome properties is a seller's market at 62% with 6.2 out of every 10 properties sold
North Vancouver Detached properties is a sellers market at 36.6% with 122 sales out of 333 listings
North Vancouver Condo properties is an accelerated seller's market at 127% with 127 sales out of 100 listings
North Vancouver Townhome properties is an strong seller's market at 78.8% with 41 sales out of 52 listings
West Vancouver Detached properties is a buyer's market at 13.1% with 64 sales out of 490 listings
West Vancouver Condo properties is a seller's market at 38.9% with 21 sales out of 54 listings
West Vancouver Townhome properties is a seller's market at 23.8% with 5 sales out of 21 listings
Coal Harbour Condos are in a seller's market at 50% with 26 sales out of 52 listings

Read your full June reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on July 4, 2017 from the Real Estate Board of Greater Vancouver

Metro Vancouver Real Estate Market Picks Up In May

Tue, 06 Jun 2017 22:13:37 GMT

The Real Estate Board of Metro Vancouver reports “That home buyer activity returned to near record levels across Metro Vancouver in May. And, while sales are inching closer to the record-breaking pace of 2016, the market itself looks different. Sales last year were driven by demand for single-family homes; this year, it’s clear that townhomes and condominiums are leading the way. The sales-to-active listing ratio In Metro Vancouver for single family homes is 31%, 46.6% for condos and 76.1% for townhomes."

The MLS® HPI Benchmark Price of residential properties in Metro Vancouver* May 2017 vs May 2016 were:

North Vancouver +3% for a single family home, +18.8% for a condo, and +14.9% for a townhome
West Vancouver -1.5% for a single family home, +21.3% for a condo
Coal Harbour +12.6% for a condo

Market types in May 2017

Metro Vancouver's market type is still a seller's market at 53.4% with 5.3 out of every 10 properties sold.
North Vancouver Detached properties is a sellers market at 41.6% with 139 sales out of 334 listings
North Vancouver Condo properties is an accelerated seller's market at 114.4% with 135 sales out of 118 listings
North Vancouver Townhome properties is an accelerated seller's market at 110.3% with 42 sales out of 38 listings
West Vancouver Detached properties is a buyer's market at 13.1% with 63 sales out of 482 listings
West Vancouver Condo properties is a seller's market at 60.9% with 28 sales out of 46 listings
West Vancouver Townhome properties is a seller's market at 21.1% with 4 sales out of 19 listings
Coal Harbour Condos are in an accelerated seller's market at 78% with 40 sales out of 51 listings

Read your full May reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on June 2, 2017 from the Real Estate Board of Greater Vancouver

Who's Buying Real Estate In Greater Vancouver

Tue, 30 May 2017 16:21:53 GMT

Every month, the Real Estate Board of Greater Vancouver surveys REALTORS® who’ve recently represented a buyer in a sale.

This feedback paints a picture of what’s happening 'on the ground' in the market.

The survey asks demographic questions about the buyers. Are they single or married? Do they have children? Are they seniors?

There are also questions about the nature of their purchase. Are they first-time buyers? Are they empty nesters who are downsizing? Are they foreign or domestic investors?

There are also a series of yes and no questions to capture Realtors' experience in the market. Are you seeing more traffic at open houses? Are you seeing more multiple offers? Are deals collapsing due to financing?

Other questions on the poll ask about how buyers are financing their purchase, where they’re moving from, and where they’re moving to.

Below are some insights of the poll from April 2016 to April 2017.

Demand for Condos & Townhomes Continues To Drive Metro Vancouver Housing Market

Tue, 02 May 2017 23:58:19 GMT

Generally, analysts say downward pressure on home prices occures when the sales-to-active listing ratio dips below 12%. When we look at our micro markets' performance in April, we see market types well above the 12% and prices trending above last year. Overall we do not expect to see a market correction on prices. Only West Vancouver detached property sales seems to be hovering around the 12% mark, mostly due to slower sales of high priced homes, yet their median sale price is above last year.

While the market is not operating at the same record pace of last year for detached properties, demand for condos and townhomes continues to out pace supply, which is making multiple offer scenarios the norm.

With such strong condiditons for Seller's, the key to success in any market is to be well prepared, and getting you ready for all market conditions is my top priority in 2017! If you are planning a change in lifestyle, let's work together to make it happen. I look forward to working for you. Regards, Dodi 604.644.3634

The MLS® HPI Benchmark Price of residential properties in Metro Vancouver* April 2017 vs April 2016 were::

North Vancouver +7.5% for a single family home, +17.2% for a condo, and +17.9% for a townhome
West Vancouver +7.2% for a single family home, +16.1% for a condo
Coal Harbour -2% for a condo

Market types in April 2017

Metro Vancouver's market type is still a seller's market at 45.5% with 4.5 out of every 10 properties sold.
North Vancouver Detached properties is a sellers market at 39.9% with 110 sales out of 276 listings
North Vancouver Condo properties is an accelerated seller's market at 87.6% with 106 sales out of 121 listings
North Vancouver Townhome properties is an accelerated seller's market at 82.1% with 32 sales out of 39 lsitings
West Vancouver Detached properties is a balanced market at 15.3% with 66 sales out of 432 listings
West Vancouver Condo properties is a seller's market at 45.8% with 22 sales out of 48 listings
West Vancouver Townhome properties is a seller's market at 38.9% with 7 sales out of 18 listings
Coal Harbour Condos are in a seller's market at 30% with 19 sales out of 63 listings

Read your full April reports here: North Vancouver, West Vancouver, Vancouver West

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on May 2, 2017 from the Real Estate Board of Greater Vancouver

Demand For Homes Continues to Outpace Supply In Metro Vancouver

Mon, 10 Apr 2017 17:59:59 GMT

In August of 2016, after the introduction of a Foreign Buyer's Tax of 15% and new tax rules, many wondered if we would see a cooling or price correction for residential properties for sale in Metro Vancouver, well 8 months latter it doesn't see so. While property sales are below last year, prices are not. The Real Estate Board of Greater Vancouver reports: "A shortage of residential property listings coupled with strong demand, particularly for condos and townhomes, continued to impact Metro Vancouver's housing market in March. Home prices will likely continue to increase until we see more housing supply coming on the market." New listings in March 2017 were at their lowest number for March since 2009.

The MLS HPI Benchmark Price of residential properties in Metro Vancouver* March 2017 vs March 2016 were::

North Vancouver +10.7% for a single family home, +17.6% for a condo, +17.9% for a townhome
West Vancouver +5.8% for a single family home, +17.3% for a condo,
Vancouver West +12.7% for a single family home, +9% for a condo, +14.9% for a townhome
Vancouver East +12.7% for a single family home, +19.1% for a condo, +2.9% for a townhome
Richmond +9.7% for a single family home, +21.4% for a condo, +17.2% for a townhome
Tsawwassen +6.2% for a single family home, +14.9% for a condo, +10.1% for a townhome
Ladner +3.4% for a single family home, +10% for a condo, +10.5% for a townhome

Market types in March 2017

Metro Vancouver's market type is still a seller's market at 47.2% with 4.7 out of every 10 properties sold. This is a 15% increase over February 2017
North Vancouver Detached properties is a sellers market at 36.8% with 98 sales out of 266 listings
North Vancouver Attached properties is an accelerated seller's market at 100% with 155 sales out of 155 listings
West Vancouver Detached properties is a buyer's market at 14.8% with 60 sales out of 405 listings
West Vancouver Attached properties is a seller's market at 53.4% with 31 sales out of 58 listings
Coal Harbour Condos are in a seller's market at 40% with 23 sales out of 57 listings

Read your full reports here: North Vancouver March 2017, West Vancouver March 2017, Vancouver West March 2017.

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on April 4, 2017 from the Real Estate Board of Greater Vancouver

Metro Vancouver Home Buyers Limited By Low Supply in February 2017

Tue, 07 Mar 2017 22:05:17 GMT

Despite slower sales than 2016's hot market, Metro Vancouver is still performing in a seller's market.The sales-to-active listing ratio for February 2017 is 31.9%, a 10-point increase from January. The Real Estate Board of Greater Vancouver reports, "While home sales are not happening at the pace we experienced last year, home seller supply is still struggling to keep up with today's demand. This is why we've seen little downward pressure on home prices, particularly in the condominium and townhome markets."

The MLS HPI Benchmark Price of residential properties in Metro Vancouver* February 2017 vs February 2016 were::

North Vancouver +12.6% for a single family home, +16.1% for a condo, +17.3% for a townhome
West Vancouver +8.3% for a single family home, +22.9% for a condo
Vancouver West +13.9% for a single family home, +10.2% for a condo, +17.9% for a townhome
Vancouver East +12.6% for a single family home, +15.8% for a condo, +8.4% for a townhome
Richmond +14% for a single family home, +20.3% for a condo, +19.4% for a townhome
Tsawwassen +7.5% for a single family home, +17.8% for a condo, +16.7% for a townhome
Ladner +6.8% for a single family home, +13.5% for a condo, +14.3% for a townhome

Market types in February 2017

Despite slower sales, Metro Vancouver's market type is still a seller's market at 31.9% with 3.2 out of every 10 properties sold
North Vancouver Detached properties is a sellers market at 34.1% with 88 sales out of 258 listings
North Vancouver Attached properties is an accelerated seller's market at 77.5% with 124 sales out of 160 listings
West Vancouver Detached properties is a buyer's market at 9% with 35 sales out of 390 listings
West Vancouver Attached properties is a seller's market at 35% with 19 sales out of 54 listings
Coal Harbour Condos are in a seller's market at 52% with 25 sales out of 48 listings

Read your full reports here: North Vancouver February 2017, West Vancouver February 2017, Vancouver West February 2017.

The key to success in any market is to be well prepared, and getting you ready for all market conditions is my top priority in 2017! If you are planning a change in lifestyle, let's work together to make it happen. I look forward to working for you! Regards, Dodi 604.644.3634

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on March 2, 2017 from the Real Estate Board of Greater Vancouver

2017 Metro Vancouver Residential Real Estate Off To A Quiet Start

Mon, 13 Feb 2017 22:26:09 GMT

Due to largely reduced buyer activity in the detached home market, January 2017 residentail sales in Metro Vancouver were 10.3% below the 10-year January sales average. Overall conditions within the Metro market vary depending on property type. The sales of attached properties, condos/townhomes/duplexes, are still performing in strong seller's markets. And in most Metro Vancouver cities, for detached properties, we continue to see buyer cautiion and the after effects of the 15% foreign buyers tax resulting in buyer's market conditions, except for North Vancouver which currently sits in a balanced market.

Are we seeing price corrections after last year's tax and mortgage changes: Let's take a closer look at our micro markets to compare prices year-over-year. The median sale prices of a single family homes in Metro Vancouver* January 2017 vs January 2016 were::

North Vancouver -1%
West Vancouver -12.8%
Vancouver West -19.4%
Vancouver East -8%
Richmond +1.3%
Tsawwassen -14.8%
Ladner -5%

Here are the highlights for January 2017:

January 2017 Metro Vancouver sales were 10.3% below the 10-year-average for the month
Sales of North Vancouver Detached Properties were 51% lower than January 2016 with 6.6% more inventory
Sales of North Vancouver Attached Properties were 27% lower than January 2016 with 6% less inventory
Sales of West Vancouver Detached Properties were 74% lower than January 2016 with 14% more inventory
Sales of West Vancouver Attached Properties were 35% lower than January 2016 with 22% less inventory
Sales of Downtown Properties were 28% lower than January 2016 with 62% more inventory

Market types in January 2017

Despite slower sales, Metro Vancouver's market type is still a seller's market at 21% with 2.1 out of every 10 properties sold
North Vancouver Detached properties is a balanced market at 16% with 34 sales out of 209 listings
North Vancouver Attached properties is a seller's market at 47% with 71 sales out of 150 listings
West Vancouver Detached properties is a buyer's market at 6% with 21 sales out of 330 listings
West Vancouver Attached properties is a seller's market at 30% with 15 sales out of 50 listings
Coal Harbour Condos are in a seller's market at 37% with 20 sales out of 54 listings

Read your full reports here: North Vancouver January 2017, West Vancouver January 2017, Vancouver West January 2017.

Regards, Dodi 604.644.3634

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on February 1, 2017 from the Real Estate Board of Greater Vancouver

2016 Metro Vancouver Real Estate Third Highest Selling Year On Record

Tue, 17 Jan 2017 21:15:05 GMT

The Real Estate Board of Greater Vancouver's president reports for 2016, that:

"It was an eventful year for real estate in Metro Vancouver. Escalating prices caused by low supply and strong home buyer demand brought more attention to the market than ever before. As prices rose in the first half of the year, public debate waged about what was fuelling demand and what should be done to stop it. This led to multiple government interventions into the market. The long-term effects of these actions won't be fully understood for some time.

The supply of homes couldn't keep up with buyer demand for most of 2016. This allowed home sellers to raise their asking price. It wasn't until the last half of the year that prices began to show modest declines."

Let's take a closer look at our micro markets to compare prices year-over-year. The median price of a single family home in Metro Vancouver* December 2016 vs December 2015 was::

North Vancouver +6.5%
West Vancouver 0%
Vancouver West +8.8%
Vancouver East +1%
Richmond +6.5%
Tsawwassen -14%
Ladner +19.2%

Here are the highlights for December 2016:

December 2016 Metro Vancouver sales were 8.1% below the 10-year-average for the month
Sales of North Vancouver Detached Properties were 39.7% lower than December 2015 with 107% more inventory
Sales of North Vancouver Attached Properties were 29.6% lower than December 2015 with 35% less inventory
Sales of West Vancouver Detached Properties were 56.3% lower than December 2015 with 5% less inventory
Sales of West Vancouver Attached Properties were 8% lower than December 2015 with 11% less inventory
Sales of Downtown Properties were 24.6% lower than December 2015 with 14.3% more inventory

Market types in December 2016:

Despite slower sales, Metro Vancouver's market type is still a seller's market at 27% with 2.7 out of every 10 properties sold
North Vancouver Detached properties is a seller's market at 32% with 47 sales out of 145 listings
North Vancouver Attached properties is a seller's market at 101% with 88 sales out of 87 listings
West Vancouver Detached properties is a buyer's market at 13% with 31 sales out of 243 listings
West Vancouver Attached properties is a seller's market at 27% with 13 sales out of 49 listings
Coal Harbour Condos are in a seller's market at 39% with 17 sales out of 44 listings

Read your full reports here: North Vancouver December 2016, West Vancouver December 2016, Vancouver West December 2016.

Regards, Dodi 604.644.3634

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on January 3, 2017, from the Real Estate Board Of Greater Vancouver.

November 2016 Housing Market Update - The Real Estate Board of Greater Vancouver

Tue, 20 Dec 2016 21:16:33 GMT

Metro Vancouver Real Estate November 2016

Mon, 05 Dec 2016 21:28:08 GMT

So far 2016 has been anything but a typical year for residential real estate in Metro Vancouver. In the first 7 months residential sales out perfored 10 year-averages in a very fast paced seller's market; since August, we've seen detached sales dip below 10-year averages into the lower end of a buyer's market.

So what changed? In August we saw the introduction of the 15% Foreign Buyer's Tax, In October new mortgage rules, and In November new rules around the principle residence captial gains exemption. These changes have resulted in buyer caution. In 2017 I expect to see seller and buyer expectations return to more balanced levels, and with the improvements in active listing inventory, buyers will find there is more choice and opportunity to find their way back into the market.

We are still seeing postive gains year over year on the median price of a single family home in Metro Vancouver* November 2016 vs November 2015 was::

North Vancouver +7.4%
West Vancouver -7%
Vancouver West +12.9%
Vancouver East +10.7%
Richmond +14.4%
Tsawwassen +2%
Ladner +17.3%

The key to success in any market is to be well prepared, and getting you ready for all market conditions is my top priority! If you are planning a change in lifestyle, let's work together to make it happen. Let's talk! Regards, Dodi 604.644.3634

Here are the highlights for November:

November 2016 Metro Vancouver sales were 7.6% below the 10-year-average for the month
Sales of North Vancouver Detached Properties were 48% lower than November 2015 with 106% more inventory
Sales of North Vancouver Attached Properties were 45.5% lower than November 2015 with 25.7% less inventory
Sales of West Vancouver Detached Properties were 67.6% lower than November 2015 with 9.6% more inventory
Sales of West Vancouver Attached Properties were 62.5% lower than November 2015 with 29% less inventory
Sales of Coal Harbour Properties were 62% lower than November 2015 with 25% more inventory

Market types in November 2016:

Despite slower sales, Metro Vancouver's market type is still a seller's market at 26.4% with 2.6 out of every 10 properties sold
North Vancouver Detached properties is a seller's market at 24% with 63 sales out of 258 listings
North Vancouver Attached properties is a seller's market at 64% with 112 sales out of 176 listings
West Vancouver Detached properties is a buyer's market at 7% with 24 sales out of 376 listings
West Vancouver Attached properties is a balanced market at 18.4% with 9 sales out of 49 listings
Coal Harbour Condos are in a balanced market at 19% with 11 sales out of 57 listings

Read your full reports here: North Vancouver November 2016, West Vancouver November 2016, Vancouver West November 2016.

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on December 5, 2016, from the Real Estate Board Of Greater Vancouver.

Metro Vancouver October 2016 Sales Report

Tue, 08 Nov 2016 22:24:43 GMT

Property sales in Metro Vancouver dipped 15% below the 10-year average in October, however prices continue to trend above 2015. Overall detached property sales have seen the largest reduction in home buyer demand in recent months, while attached property sales continue to perform in seller's markets. The Real Estate Board of Greater Vancouver reports that "changing market conditions compounded by a series of government interventions this year have put home buyers and sellers in a holding pattern.Potential buyers and sellers are taking a wait-and-see approach to try and better understand what these changes mean for them."

The median price of a single family home in Metro Vancouver* October 2016 vs October 2015 was:

North Vancouver 7.3% higher
West Vancouver 26.9% higher
Vancouver West 10.2% higher
Vancouver East 10% higher
Richmond 14% higher
Tsawwassen 6.5% higher
Ladner 4.8% higher

Here are the highlights for October:

October 2016 Metro Vancouver sales dropped 15% below the 10-year-average for the month
Sales of North Vancouver Detached Properties were 52.3% lower than October 2015 with 109% more inventory
Sales of North Vancouver Attached Properties were 32.7% lower than October 2015 with 32.7% less inventory
Sales of West Vancouver Detached Properties were 79% lower than October 2015 with 1% more inventory
Sales of West Vancouver Attached Properties were 48% lower than October 2015 with 33.7% less inventory
Sales of Downtown Condo Properties were 42.3% lower than October 2015 with 5.4% more inventory

Market types in October 2016:

Despite slower sales, Metro Vancouver's market type is a seller's market at 24.4% with 2.4 out of every 10 properties sold
North Vancouver Detached properties is a balanced market at 20% with 62 sales out of 312 listings
North Vancouver Attached properties is a seller's market at 52% with 103 sales out of 197 listings
West Vancouver Detached properties is a buyer's market at 6% with 24 sales out of 418 listings
West Vancouver Attached properties is a seller's market at 24% with 13 sales out of 55 listings
Coal Harbour Condos are in a seller's market at 29% with 18 sales out of 63 listings

Read your full reports here: North Vancouver October 2016, West Vancouver October 2016, Vancouver West October 2016.

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on November 1, 2016, from the Real Estate Board Of Greater Vancouver.

September 2016 North Shore Real Estate Report

Wed, 12 Oct 2016 16:48:56 GMT

Since August 1, 2016 we've seen some drastic changes in buyer demand for real estate in Metro Vancouver*. While attached propeties continue to perform in strong seller's markets, In just over two months Metro Vancouver* Detached properties moved from accellerated seller's markets to buyer's markets, the only exception was in North Vancouver which is now balanced. While we have seen a slow down in sales for single family homes, we are not seeing the same for sales prices.

The median price of a single family home in September 2016 vs September 2015

North Vancouver 18% higher
West Vancouver 13.3% higher
Vancouver West 3.5% higher
Vancouver East 20% higher
Richmond 31.4% higher
Tsawwassen 29.6% higher
Ladner 17% higher

The key to success in any market is to be well prepared, and getting you ready for all market conditions is my top priority! If you are planning a change in lifestyle this Fall, let's work together to make it happen. Dodi 604.644.3634

Here are the highlights for September:

September 2016 Metro Vancouver sales dropped 9.6% below the 10-year-average for the month
Sales of North Vancouver Detached Properties were 50% lower than September 2015 with 56.3% more inventory
Sales of North Vancouver Attached Properties were 12.4% lower than September 2015 with 38.6% less inventory
Sales of West Vancouver Detached Properties were 66% lower than September 2015 with 12.5% less inventory
Sales of West Vancouver Attached Properties were 43% lower than September 2015 with 34.4% less inventory
Sales of Downtown Condo Properties were 26.7% lower than September 2015 with 10.9% less inventory

Market types in September 2016:

Metro Vancouver's Sales-to-Active listing ratio is the lowest since February 2015
Metro Vancouver's market type is a seller's market at 24.1% with 2.4 out of every 10 properties sold
North Vancouver Detached properties is a balanced market at 17% with 54 sales out of 311 listings
North Vancouver Attached properties is a seller's market at 61% with 127 sales out of 207 listings
West Vancouver Detached properties is a buyer's market at 6% with 23 sales out of 412 listings
West Vancouver Attached properties is a seller's market at 29% with 17 sales out of 59 listings
Coal Harbour Condos are in a seller's market at 39% with 24 sales out of 62 listings

Read your full reports here: North Vancouver September 2016, West Vancouver September 2016, Vancouver West September 2016.

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on October 3, 2016, from the Real Estate Board Of Greater Vancouver.

North Vancouver Detached Real Estate Still A Seller's Market in August 2016

Wed, 07 Sep 2016 17:42:27 GMT

Lots happened in August 2015 in Metro Vancouver Real Estate - the introduction of a 15% tax foreign buyer's tax and the move, in just 4 weeks, from a seller's market in Metro Vancouver's* detached housing market, to a buyer's market except in North Vancouver, where buyer demand has kept it in a seller's market. Sales of Metro Vancouver attached properties, condos/townhomes/duplexes are still performing in a seller's market with strong buyer demand. So is the dramatic change in the sales of single family homes due to a summer slowdown, very low inventory, the new 15% tax, or a combination of all three? We will need to wait and see how the Fall market performs to answer that question.

Here are the highlights for August:

For the first time in 2016 Metro Vancouver sales dropped below the 10-year-average for the month at -3.5%
Sales of North Vancouver Detached Properties were 31% lower than August 2015 with 33% more inventory
Sales of North Vancouver Attached Properties were 22.5% lower than August 2015 with 53% less inventory
Sales of West Vancouver Detached Properties were 61% lower than August 2015 with 13% less inventory
Sales of West Vancouver Attached Properties were 31.3% higher than August 2015 with 50% less inventory
Sales of Downtown Condo Properties were 35% lower than August 2015 with 12.8% less inventory

Market types in August 2016:

The Sales-To-Active listings ratio for Metro Vancouver was 29.3%, a seller's market, with 2.9 out of every 10 properties sold
The Sales-To-Active listings ratio for North Vancouver Detached properties 33%, a seller's market, with 65 sales out of 197 listings
The Sales-To-Active listings ratio for North Vancouver Attached properties was 62%, a seller's market, with 96 sales out of 156 listings
The Sales-To-Active listings ratio for West Vancouver Detached properties was 8%, a buyer's market, with 32 sales out of 380 listings
The Sales-To-Active listings ratio for West Vancouver Attached properties was 41%, a seller's market, with 21 sales out of 51 listings
The Sales-To-Active listings ratio for Coal Harbour Condos was 25%, a seller's market, with 15 sales out of 61 listings

Read your full reports here: North Vancouver August 2016, West Vancouver August 2016, Vancouver West August 2016.

*Areas covered in Metro Vancovuer include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

The accuracy and completeness of the information is not guaranteed. Data was captured on September 1, 2016, from the Real Estate Board Of Greater Vancouver.

BC Property Transfer Tax 2016 Cheat Sheet

Tue, 23 Aug 2016 17:54:20 GMT

The Property Transfer Tax (PTT) is a land registration tax paid by a property buyer or owner when a property title is registered at the Land Title and Survey Authority (LTSA).

How much is the PTT?

The PTT is charged on the fair market value of a property at a rate of:

1% on the first $200,000
2% on the balance up to and including $2,000,000
3% on the balance greater than $2,000,000

If the property is transferred without money changing hands – for example, an inheritance, (known as an arm’s length transaction) – the value is determined by an independent appraisal or BC Assessment.

Pre-sales

Buyers of pre-sold strata units will typically pay the PTT on the total consideration paid for the unit, not the fair market value on the date the title is registered. There are PTT exemptions for new homes (see below.)

The total consideration is the entire amount paid to acquire the property, including the price of the unit plus fees for upgrades or additions, or any premiums for the assignment of a written agreement.

Once a developer files a strata plan at the LTSA, whoever registers the transfer pays the PTT.

Foreign entities

Effective August 2, 2016, an additional PTT charged at a rate of 15% of the fair market value applies to residential property transfers to foreign entites in Metro Vancouver.

Foreign entities are transferees that are foreign nationals, corporations or taxable trustees.

The additional tax applies on the foreign entity's proportionate share of any applicable residential property transfer, even when the transaction may normally be exempt from the PTT. This includes transactions between related individuals, a transfer resulting from an amalgamation, a transfer to a surviving joint tenant, and a transfer where the transferee is or becomes a trustee in relation to the property, even if the trust does not change. The 15% PTT does not apply to trusts that are mutual fund trusts, real estate investment trusts or specified investment flow-through trusts.

Exemptions

First Time Home Buyers’ Program

The First Time Home Buyers’ (FTHB) Program gives a PTT exemption to eligible first time home buyers.

To qualify for a full exemption, first time buyers must:

be a Canadian citizen or permanent resident;
have lived in BC for 12 consecutive months before the date the property is registered; or
have filed 2 income tax returns as a BC resident in the last 6 years;
have never owned an interest in a principal residence anywhere, anytime; and
have never received a first time home buyers' exemption or refund.

The property must be used as a principal residence and have a fair market value of $475,000 or less and be 0.5 hectares (1.24 acres) or smaller. There is a partial exemption for properties $475,000 - $500,000. Here are details.

Newly built homes

There’s a PTT exemption for newly built homes with a fair market value of up to $750,000, including a house constructed on vacant land, a new apartment in a newly built condominium building, a manufactured home on vacant land, and other newly built homes. There are also occupancy requirements.

There’s a partial exemption for property with fair market value of $750,000 - $800,000.

To apply for the Newly Built Home Exemption, enter exemption code 49 on the Special Property Transfer Tax Return when theproperty is registered at a land title office.

Vacant land

If you registered a vacant lot and paid the tax, you may apply for a refund if you have:

built a new home on the land worth $750,000 or less;
moved into the home as a principal residence within one year of registering the property; and
meet the qualifications for the Newly Built Home Exemption.

Apply for a refund by completing the Newly Built Home Application for Refund.

If you need help, phone 250-387-0604 or toll-free phone Inquiry BC at 604-660-2421 and ask to be transferred to 250-387-0604.

Other exemptions

There are many PTT exemptions, including family exemptions, for example:

transfer of a principal residence (PDF)
transfer of a recreational residence (PDF)
transfer resulting from a marriage breakdown (PDF)
transfer of a family farm involving individuals (PDF)
transfer of a family farm to or from a family farm corporation

There are also exemptions for title transfers involving joint tenants and tenants in common, an agreement for sale, a bankruptcy, and transfers to registered charities. Bulletin PTT 003 has details about the range of exemptions.

Penalties

If buyers don’t comply there are penalties that can be levied.

PTT history

In 1987, the PTT was brought in as a luxury tax. Just 5% of homes were taxed the 2% portion (over $200,000). Today, more than 95% of homes pay the 2% portion.

Q + As

Can I re-qualify as a first time home buyer?
No. However, the federal Home Buyers’ Program allows home buyers to requalify after four years.
Do I qualify for the First Time Home Buyers Program if I’ve never owned a property but my spouse has?
Yes. It depends on the percentage of the home owned by each of the spouses.

Resources

Guide to the First Time Home Buyers' Program (opens a 2-page PDF)
Q & A
Additional Property Transfer Tax on Residential Property Transfers to Foreign Entities in the Greater Vancouver Regional District
PTT Help Centre (scroll down)
REBGV PTT website
BC Property Transfer Tax Office 1-888-355-2700 (Option #2)
Here is a complete list of forms and publications.

Document Source: Real Estate Board Of Greater Vancouver. July 2016.

Metro Vancouver Home Sales Resemble A More Typical July

Mon, 08 Aug 2016 23:30:09 GMT

For the first time since January, July 2016's home sales registered below 4,000 units for Metro Vancouver. So after several months of record-breaking residential sales, are we just seeing a traditional summer slow down, the effects of historically low inventory levels, the first effects of the new 15% foreign buyer's tax, or a combination of all three? Too soon to tell most likely. We will have to wait and watch over the next few months to see if we are begining to see a return to more normal market trends.

The key to success in such an accelerated market is to be well prepared and getting you ready for all market conditions is my top priority! If you are planning a change in lifestyle this fall, let's work together to make it happen. Let's talk, Dodi 604.644.3634

Here are the highlights:

Overall for Metro Vancouver July 2016's sales were 6.5% above the 10 year average for the month
Sales of North Vancouver Detached Properties were 17.2% lower than July 2015 with 11.6% more inventory
Sales of North Vancouver Attached Properties were 15.2% lower than July 2015 with 56.6% less inventory
Sales of West Vancouver Detached Properties were 45.7% lower than July 2015 with 10.4% less inventory
Sales of West Vancouver Attached Properties were 10.5% higher than July 2015 with 41% less inventory
Sales of Downtown Condo Properties were 31.8% lower than July 2015 with 30% less inventory

Market types in July 2016: (note, when a sales to listing ratio exceeds 100%, properties are selling faster than the listing inventory is being replenished.)

The Sales-To-Active listings ratio for Metro Vancouver was 38.6%, a seller's market, with 3.9 out of every 10 properties sold
The Sales-To-Active listings ratio for North Vancouver Detached properties 45%, a seller's market, with 96 sales out of 212 listings
The Sales-To-Active listings ratio for North Vancouver Attached properties was 88%, a seller's market, with 139 sales out of 158 listings
The Sales-To-Active listings ratio for West Vancouver Detached properties was 11%, a buyer's market, with 44 sales out of 414 listings
The Sales-To-Active listings ratio for West Vancouver Attached properties was 36%, a seller's market, with 21 sales out of 59 listings
The Sales-To-Active listings ratio for Coal Harbour Condos was 53%, a seller's market, with 28 sales out of 53 listings

Read your full reports here: North Vancouver July 2016, West Vancouver July 2016, Vancouver West July 2016.

*Areas covered in the Real Estate Board of Greater Vancouver's report include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta

The accuracy and completeness of the information is not guaranteed.

Metro Vancouver Home Buyers Very Active in June 2016

Mon, 11 Jul 2016 19:43:03 GMT

Once again residential sales in Metro Vancouver are outperforming the 10-year averages, with June 2016 the highest selling June on record. If you are considering selling or buying in the next six months, let's talk. The key to success in such an accelerated market is to be well prepared and getting you ready for all market conditions is my top priority!

Regards, Dodi 604.644.3634

Here are the highlights:

Overall for Metro Vancouver June 2016's sales were 28.1% above the 10 year average for the month
Sales of North Vancouver Detached Properties were 1.3% lower than June 2015 with 17.4% less inventory
Sales of North Vancouver Attached Properties were 3.4% higher than June 2015 with 57.4% less inventory
Sales of West Vancouver Detached Properties were 28.2% lower than June 2015 with 18.9% less inventory
Sales of West Vancouver Attached Properties were 12.5% higher than June 2015 with 38.9% less inventory
Sales of Downtown Condo Properties were 6.3% higher than June 2015 with 47% less inventory

Market types in June 2016: (note, when a sales to listing ratio exceeds 100%, properties are selling faster than the listing inventory is being replenished.)

The Sales-To-Active listings ratio for Metro Vancouver was 56.3%, a seller's market, with 5.6 out of every 10 properties sold
The Sales-To-Active listings ratio for North Vancouver Detached properties 82%, a seller's market, with 156 sales out of 190 listings
The Sales-To-Active listings ratio for North Vancouver Attached properties was 112%, a seller's market, with 183 sales out of 164 listings
The Sales-To-Active listings ratio for West Vancouver Detached properties was 19%, a balanced market, with 74 sales out of 386 listings
The Sales-To-Active listings ratio for West Vancouver Attached properties was 49%, a seller's market, with 27 sales out of 55 listings
The Sales-To-Active listings ratio for Coal Harbour Condos was 39%, a seller's market, with 22 sales out of 57 listings

Read your full reports here: North Vancouver June 2016, West Vancouver June 2016, Vancouver West June 2016.

May 2016's Metro Vancouver Housing Sales Highest On Record

Tue, 07 Jun 2016 21:48:41 GMT

Metro Vanouver's residential real estate continues to sell at an uprecedented rate, resulting in last month's sales ranking as the hightest May on record. We have started to see a few more home seller's enter the market place in recent months, however buyer demand continues to outpace this new supply. Sellers should fee secure that there are many property options in our micro markets for them to move up or down the property ladder. If you are considering selling, please give me a call 604.644.3634. If my sign is on your lawn you're moving! Regards, Dodi

Here are some highlights:

Overall for Metro Vancouver May 2016's sales were 35.3% above the 10 year average for the month
Sales of North Vancouver Detached Properties were 7% lower than May 2015 with 15.7% less inventory
Sales of North Vancouver Attached Properties were 14.8% higher than May 2015 with 68.9% less inventory
Sales of West Vancouver Detached Properties were 4% higher than May 2015 with 18.5% less inventory
Sales of West Vancouver Attached Properties were 23.5% higher than May 2015 with 53.9% less inventory
Sales of Downtown Condo Properties were 13.9% higher than May 2015 with 49.6% less inventory

Seller's Markets in May 2016: (note, when a sales to listing ratio exceeds 100%, properties are selling faster than the listing inventory is being replenished.)

The Sales-To-Active listings ratio for Metro Vancouver was 61.7%, with 6.1 out of every 10 properties sold
The Sales-To-Active listings ratio for North Vancouver Detached properties was 65%, with 6.5 out of every 10 homes sold
The Sales-To-Active listings ratio for North Vancouver Attached properties was 132%, with 13.2 of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Detached properties was 27%, with 2.7 out of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Attached properties was 89%, with 4.1 out of every 10 homes sold
The Sales-To-Active listings ratio for Coal Harbour Condos was 103%, with 10.3 out of every 10 condos sold

Read your full reports here: North Vancouver May 2016, West Vancouver May 2016, Vancouver West May 2016.

April 2016 Highest Selling April on Record for Metro Vancouver Home Sales

Tue, 03 May 2016 20:28:47 GMT

While March 2016 set an all-time record, April's 2016 house sales were just as strong: 41.7% above the 10 year average, and the highest selling April on record. Supply is still chasing the unprecedented surge of Buyer demand in accelerated Seller's Market, while home Buyer competition remains intense across the region. If you are considering selling, please give me a call 604.644.3634. If my sign is on your lawn you're moving! Regards, Dodi

Here are some highlights:

Overal for Metro Vancouver April 2016's sales were 41.7% above the 10 year average for the month
Sales of North Vancouver Detached Properties were 4.2% lower than April 2015 with 34% less inventory
Sales of North Vancouver Attached Properties were 18.2% higher than April 2015 with 68.4% less inventory
Sales of West Vancouver Detached Properties were 5.5% higher than April 2015 with 27.5% less inventory
Sales of West Vancouver Attached Properties were 13% below April 2015 due to 43% less inventory
Sales of Downtown Condo Properties were 6.4% higher than April 2015 with 51.4% less inventory

Seller's Markets in April 2016:

The Sales-To-Active listings ratio for Metro Vancouver was 63.3%, with 6.3 out of every 10 properties sold
The Sales-To-Active listings ratio for North Vancouver Detached properties was 98%, with 9.8 out of every 10 homes sold
The Sales-To-Active listings ratio for North Vancouver Attached properties was 125%, with 10+ of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Detached properties was 34%, with 3.4 out of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Attached properties was 41%, with 4.1 out of every 10 homes sold
The Sales-To-Active listings ratio for Coal Harbour Condos was 71%, with 7.1 out of every 10 condos sold

Read your full reports here: North Vancouver April 2016, West Vancouver April 2016, Vancouver West April 2016.

Metro Vancouver March 2016 Real Estate Sales Set An All-Time Record

Mon, 04 Apr 2016 20:00:35 GMT

If you've been following the real estate trends, or listening to the news, then it should be no surprise Metro Vancouver's residential real estate sales set an all-time record in March. For the first time ever, sales eclipsed 5,000, with a total of 5,173 residential sales. In our North Vancouver Detached and Attached markets we saw sales-to-listing ratios of +100% of listings sold, due to listings selling faster than the listing were replenished. In such an accelerated market, now reallly is the opportune time to sell a property in our markets. If you are considering selling, give me a call 604.644.3634, If my sign is on your lawn you're moving! Regards, Dodi

Here are some highlights:

Overal for Metro Vancouver March 2016's sales were 56% above the 10 year average for the month
Sales of North Vancouver Detached Properties were 4% lower than March 2015 with 36% less inventory
Sales of North Vancouver Attached Properties were 3% higher than March 2015 with 66.7% less inventory
Sales of West Vancouver Detached Properties were 44.6% higher than March 2015 with 31.5% less inventory
Sales of West Vancouver Attached Properties were 7% below March 2015 due to 43% less inventory
Sales of Downtown condo properties were 22% higher than March 2015 with 53% less inventory

Seller's Markets in March 2016:

The Sales-To-Active listings ratio for Metro Vancouver was 70%, with 7 out of every 10 properties sold
The Sales-To-Active listings ratio for North Vancouver Detached properties was 108%, with 10+ out of every 10 homes sold
The Sales-To-Active listings ratio for North Vancouver Attached properties was 126%, with 10+ of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Detached properties was 46%, with 4.6 out of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Attached properties was 49%, with 4.9 out of every 10 homes sold
The Sales-To-Active listings ratio for Coal Harbour Condos was 118%, with 10+ out of every 10 homes sold

Read your full report here: REBGV March 2016 Residential Stats Package.

Metro Vancouver Housing Sales Highest February On Record

Mon, 21 Mar 2016 21:45:07 GMT

The Real Estate Board of Metro Vancouver reports February 2016 was the highest selling February on record for the Metro Vancouver Housing Market.

Here are some highlights:

Overal for Metro Vancouver February 2016's sales were 56.3% above the 10 year average for the month
Sales of North Vancouver Detached Properties were 28.7% higher than February 2015 with 22% less inventory
Sales of North Vancouver Attached Properties were 23% higher than February 2015 with 62.7% less inventory
Sales of West Vancouver Detached Properties were 20.7% higher than February 2015 with 24% less inventory
Sales of West Vancouver Attached Properties were 23% below February 2015 due to 36% less inventory
Sales of Downtown condo properties were 28.7% higher than February 2015 with 22% less inventory

Seller's Markets in February 2016:

The Sales-To-Active listings ratio for Metro Vancouver was 57%, with 5.7 out of every 10 properties sold, Indicating a strong seller's market.
The Sales-To-Active listings ratio for North Vancouver Detached properties was 81%, with 8.1 out of every 10 homes sold
The Sales-To-Active listings ratio for North Vancouver Attached properties was 96%, with 9.6 out of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Detached properties was 40%, with 4 out of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Attached properties was 29%, with 2.9 out of every 10 homes sold
The Sales-To-Active listings ratio for Coal Harbour Condos was 71%, with 7.1 out of every 10 homes sold

Read your full report here: REBGV February 2016 Residential Stats Package.

If you are planning on selling or buying the time to do so is now, and I'm here to help you achieve your real este goals in this fast paced market. Please give me a call 604.644.3634

Regards, Dodi

Metro Vancouver Home Buyer Competition Keeps Home Sellers In The Driver's Seat

Tue, 02 Feb 2016 21:30:09 GMT

The Real Estate Board of Metro Vancouver reports in January 2016: "Home buyer demand was at near record heights and home seller supply was as low as we've seen in many years."

Here are some highlights:

Overal for Metro Vancouver January 2016's sales were 46% above the 10 year average for the month and ranks as the second highest January on record. .
Sales of North Vancouver Detached Properties were 2.9% higher Than January 2015 with 31% less inventory
Sales of North Vancouver Attached Properties were 27.6% higher than January 2015 with 58% less inventory
Sales of West Vancouver Detached Properties were 95% higher than January 2015 with 24% less inventory
Sales of West Vancouver Attached Properties were 109% higher than January 2015 with 34% less inventory
Sales of Downtown condo properties were 8% higher than January 2015

Seller's Markets in January 2016:

The Sales-To-Active listings ratio for Metro Vancouver was 38 percent, with 3.8 out of every 10 properties sold, Indicating a strong seller's market.
The Sales-To-Active listings ratio for North Vancouver Detached properties was 55%, with 5.5 out of every 10 homes sold
The Sales-To-Active listings ratio for North Vancouver Attached properties was 61%, with 6.1 out of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Detached properties was 28%, with 2.8 out of every 10 homes sold
The Sales-To-Active listings ratio for West Vancouver Attached properties was 29%, with 2.9 out of every 10 homes sold
The Sales-To-Active listings ratio for Coal Harbour Condos was 26%, with 2.6 out of every 10 homes sold

Read your full report here: REBGV January 2016 Residential Stats Package.

With the present market condidtion, If you are planning on selling or buying the time to do so is now, and I'm here to help you.. Please give me a call 604.644.3634

Regards, Dodi

HOME SALES IN METRO VANCOUVER SET ALL-TIME RECORD IN 2015

Tue, 12 Jan 2016 00:17:00 GMT

Despite listing inventory well below historical averages, the 2015 residential sales in Metro Vancouver were the highest annual total in REBGV history.

Here are some of the hightlights:

We saw a 27.8% increase in residential property sales in 2015 compared to 2014, and a 48.4% increase compared to 2013
MLS® Home Price Index (HPI) saw double-digit year-over-year price increases
The sales-to-active listing ratio stayed above 25% for 11 months in Metro Vancouver - a strong seller's market

North Vancouver outperformed the Metro Vancouver averages:

The sales-to-active listing ratio averaged 67% for North Vancouver Detached Properties - a fast paced seller's market, with an average of 9 days-on-market
The sales-to-active listing rato averaged 45% for North Vancouver Attached Properties - a very strong seller's market, with an average of 19 days-on-market

In our markets comparing December 2015 to December 2014:

We saw 21.9% more sales of detached properties in North Vancouver with 50% less inventory
We saw 58% more sales of attached properties in North Vancouver with 40% less inventory
We saw 34% more sales of detached properties in West Vancouver with 10.7% less inventory

Click here for your full report: REBGV Metro Vancouver December 2015 Residential Sales

With no slow down expected in the marke during 2016, now is the time to sell. if you are considering a change in lifestyle, or you'd like more information on your specific micro market. I'd love to talk to you! Please call 604.644.3634

Dodi

Real Estate Sales In Metro Vancouver 2nd Highest November On Record

Tue, 08 Dec 2015 20:37:20 GMT

If you been following our blog, or the news, its no surprise that homes sales reached near record levels last month. Metro Vancouver's November 2015 residential real estate sales rank as the second hghest November on record. While the sales-to-listing ratio is the highest it's been in this market for nine years.

Here are some of the hightlights:

=We saw a 40% increase in residential property sales in November 2015 compared to November 2014

=November 2015's sales were 46.2% above the 10-year sales average for the month
=The November sales-to-active-listings ratio was 43.5% for all Metro Vancouver
=The November sales-to-active listings ratio for North Vancouver detached properties was 80%
=The November sales-to-active listings ratio for North Vancouver condos & townhouses was 70.5%
=The November sales-to-active listings ratio for West Vancouver detached properties was 23.8%
=The November sales-to-active listings ratio for Coal Harbour condos was 39.5%
=Sales of detached properties in November 2015 were 31.9% higher than November 2014 and 44.2% higher than November 2013
=Sales of apartment properties in November 2015 were 47.6% higher than November 2014 and 60.3% higher than November 2013
=Sales of attached properties in November 2015 were 40.7% higher than November 2014 and 49.3% higher than November 2013

In our markets comparing November 2015 to November 2014:

=We saw 36.9% more sales of detached properties in North Vancouver with 45% less inventory

=We saw 50.5% more sales of attached properties in North Vancouver with 48% less inventory

=We saw 32% more sales of detached properties in West Vancouver with 12.5% less inventory

Click here for your full report: REBGV Metro Vancouver November 2015 Residential Sales

If you would like to more about specific micro markets, neighbourhoods, or have any question on how to captialize on the current trends, we'd love to talk to you! 604.644.3634

Dodi and Rachael

Metro Vancouver Home Sales Exceed 10 Year Averages Again!

Mon, 02 Nov 2015 20:38:00 GMT

The Real Estate Board of Greater Vancouver reports that "In October home sales were more than one third above what's typical for this time of year yet the supply of homes for sale is the lowest we've seen in five years." This activity has created some of the most favourable conditions for sellers in a very very long time.

Here are the hightlights

We saw a 19.3% increase in residential property sales in October 2015 compared to October 2014
October 2015's sales were 36.2% above the 10-year sales average for the month
The October sales-to-active-listings ratio was 38.1% for all Metro Vancouver
The October sales-to-active listings ratio for North Vancouver detached properties was 87.25%, 51% higher than Metro Vancouver
The October sales-to-active listings ratio for North Vancouver condos & townhouses was 52%
The October sales-to-active listings ratio for West Vancouver detached properties was 27.8%
The October sales-to-active listings ratio for Coal Harbour condos was 30%
Sales of detached properties in October 2015 were 13.1% higher than October 2014 and 34.7% higher than October 2013
Sales of apartment properties in October 2015 were 21.7% higher than October 2014 and 40.5% higher than October 2013
Sales of attached properties in October 2015 were 28.6% higher than October 2014 and 34.3% higher than October 2013

Click here for your full report: REBGV Metro Vancouver October 2015 Residential Sales

If you have any question on how to captialize on the current trends in your micro market, we'd love to talk to you! 604.644.3634

Dodi and Rachael

Hot Seller's Market for Metro Vancouver Real Estate

Tue, 06 Oct 2015 20:40:27 GMT

The September 2015 Metro Vancouver Housing #'s are here, and the number of properties litsted for sale has not been keeping up with demand. Buyer's spend their summer actively looking to buy, despite active listings sitting 27% below the same period last year. The board reports "that at no point this year has the number of homes listed for sale exceeded 14,000, whis is the first time this has occured in the region since 2007."

Here are the hightlights

We saw a 14.5% increase in residential property sales in September 2015 compared to September 2014
September 2015's sales were 32.9% above the 10-year sales average for the month
The September sales-to-active-listings ratio was 31% for all Metro Vancouver, a strong seller's market
The September sales-to-active listings ratio for North Vancouver detached properties was 54.3%
The September sales-to-active listings ratio for North Vancouver condos & townhouses was 43%
The September sales-to-active listings ratio for West Vancouver detached properties was 14.4%
The September sales-to-active listings ratio for Coal Harbour condos was 22%
Sales of detached properties in September 2015 were on part with September 2014 and 24.3% higher than September 2013
Sales of apartment properties in September 2015 were 28.7% higher than September 2014 and 50.2% higher than September 2013
Sales of attached properties in September 2015 were 17.2% higher than September 2014 and 23.1% higher than September 2013

Click here for your full report: REBGV Metro Vancouver September 2015 Residential Sales

If you have any question on how to captialize on the current trends in your micro market, don't hesitate to give us a call! 604.644.3634

Dodi and Rachael

*Areas covered in the Real Estate Board of Greater Vancouver's report include: Whistler, Sunshine Coas, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta

Vigorous Housing Demand Unabated in August for British Columbia

Tue, 15 Sep 2015 22:45:18 GMT

“More homes were sold in BC during the first eight months of the year than in the entire 12 months of 2012.”

Read the full report from The BC Real Estate Association here: BC Real Estate Association August 2015

If changing lifestyles has you on the move this year, we are here to make it happen. The timing has never been better to sell!

Best Regards

Dodi & Rachael

No Summer Slowdown in 2015 for Metro Vancouver Real Estate Sales

Wed, 09 Sep 2015 23:10:46 GMT

The August 2015 Metro Vancouver Housing #'s are here and many buyers spent the summer searching for their new home. This year we did not see the tradtional seasonal slowdown in any of our residential markets. Between June and August home sales were 25-30% above the 10 year average. Buyers are motivated but facing stiff competition due to active listing inventory 26.2% below the same period in 2014.

Here are the hightlights

We saw a 21.3% increase in residential property sales in August 2015 compared to August 2014
August 2015's sales were 27.9% above the 10-year sales average for the month
The August sales-to-active-listings ratio was 30.9% for all Metro Vancouver, a strong seller's market
The August sales-to-active listings ratio for North Vancouver detached properties was 63.5%
The August sales-to-active listings ratio for North Vancouver condos & townhouses was 37.4%
The August sales-to-active listings ratio for West Vancouver detached properties was 19%
The August sales-to-active listings ratio for Coal Harbour condos was 40%
Sales of detached properties in August 2015 were 11.4% higher than August 2014 and 22.6% higher than August 2013
Sales of apartment properties in August 2015 were 32.7% higher than August 2014 and 46.8% higher than August 2013
Sales of attached properties in August 2015 were 18.7% higher than August 2014 and 30.2% higher than August 2013

Click here for your full report: REBGV Metro Vancouver August 2015 Residential Sales

If you have any question on how to captialize on the current trends in your micro market, don't hesitate to give us a call! 604.644.3634

With todays market conditions, now is a great time to make a move! If you are planning on changing your lifestyle this year, we want to help you maket the right move! Let's talk 604.644.3634

Dodi and Rachael

Housing Market Update August 2015 - BC Real Estate Association

Tue, 18 Aug 2015 17:30:16 GMT

METRO VANCOUVER JULY 2015 HOME SALES 33.5% ABOVE 1 YEAR AVERAGES FOR JULY

Wed, 05 Aug 2015 20:51:35 GMT

The July 2015 Metro Vancouver Housing #'s are here, and summer heat hasn't slowed buyer activity. Despite the news, buyer confidence continues to be strong, and when combined with low interest rates, many are not wating to find first home, their next step on the property ladder or their dream home.

Here are the hightlights

We saw a 30% increase in residential property sales in July 2015 compared to July 2014
July 2015's sales were 33.5% above the 10-year sales average for the month
Overall for Metro Vancouver there are 5,000-6,000 less properties for sale than any time over the last 5 to 6 years
The July sales-to-active-listings ratio was 34.6% for all Metro Vancouver, a strong seller's market
The July sales-to-active listings ratio for North Vancouver detached properties was 61.05%
The July sales-to-active listings ratio for North Vancouver condos & townhouses was 45.05%
The July sales-to-active listings ratio for West Vancouver detached properties was 17.53%
The July sales-to-active listings ratio for Coal Harbour condos was 38.46%
Sales of detached properties in July 2015 were 17.9% higher than July 2014 and 24.8% higher than July 2013
Sales of apartment properties in July 2015 were 42.7% higher than July 2014 and 42.9% higher than July 2013
Sales of attached properties in July 2015 were 30.9% higher than July 2014 and 41.7% higher than July 2013

Click here for your full report: REBGV Metro Vancouver July 2015 Residential Sales

If you have any question on how to captialize on the current trends in your micro market, don't hesitate to give us a call! 604.644.3634

With todays market conditions, now is a great time to make a move! If you are planning on changing your lifestyle this year, we want to help you maket the right move! Let's talk 604.644.3634

Dodi and Rachael

Metro Vancouver Home Sales Set Record Pace in June 2015

Tue, 07 Jul 2015 17:13:46 GMT

The June 2015 Metro Vancouver Housing #'s are here, and what a month! Last month was the highest selling June and the second highest overall monthly total on record for the REBGV. Combine pent-up buyer demand post 2008 with low interest rates, and even lower active listing inventory, and we see the extremely fast paced and competitive market we have today.

Here are the hightlights

We saw a 28.4% increase in residential property sales in June 2015 compared to June 2014
June 2015's sales were 29.1% above the 10-year sales average for the month
June is the 4th straight month with over 4,000 sales in Metro Vancouver, the first time in REBGV history
The June sales-to-active-listings ratio was 35.9% for all Metro Vancouver, the highest ratio since June 2006
The June sales-to-active listings ratio for North Vancouver detached properties was 66.96%
The June sales-to-active listings ratio for North Vancouver condos & townhouses was 45.97%
The June sales-to-active listings ratio for West Vancouver detached properties was 21.64%
The June sales-to-active listings ratio for Coal Harbour condos was 36.17%
Sales of detached properties in June 2015 were 31.3% higher than June 2014 and 74.2% higher than June 2013
Sales of apartment properties in June 2015 were 35.6% higher than June 2014 and 66.1% higher than June 2013
Sales of attached properties in June 2015 were 7.1% higher than June 2014 and 44.3% higher than June 2013

Click here for your full report: REBGV Metro Vancouver June 2015 Residential Sales

If you have any question on how to captialize on the current trends in your micro market, don't hesitate to give us a call! 604.644.3634

With todays market conditions, now is a great time to make a move! If you are planning on changing your lifestyle this year, we want to help you maket the right move! Let's talk 604.644.3634

Dodi and Rachael

Metro Vancouver Home Sales surpass 4,000 for 3rd Month

Mon, 08 Jun 2015 19:04:24 GMT

The May 2015 Metro Vancouver Housing #'s are here! It continues to be a very competitive market with competition putting upward pressure on home prices, especially for detached properties. We are seeing strong competition amongst buyers, especially if the house is priced right, and hyper local buying activity with certain neighbourhoods in high demand.

Here are the hightlights

We saw a 23.4% increase in residential property sales in May 2015 compared to May 2014
May 2015's sales were 16.7% above the 10-year sales average for the month
The May sales-to-active-listings ratio was 32.9% for all Metro Vancouver, the highest ratio since June 2007
The May sales-to-active listings ratio for North Vancouver detached properties was 59.27%
The May sales-to-active listings ratio for North Vancouver condos & townhouses was 35.81%
The May sales-to-active listings ratio for West Vancouver detached properties was 21.37%
The May sales-to-active listings ratio for Coal Harbour condos was 30.56%
Sales of detached properties in May 2015 were 18.6% higher than May 2014 and 42.2% higher than May2013
Sales of apartment properties in May 2015 were 24.4% higher than May 2014 and 40.8% higher than May 2013
Sales of attached properties in May 2015 were 34% higher than May 2014 and 37.3% higher than May 2013

Click here for your full report: REBGV Metro Vancouver May 2015 Residential Sales

If you have any question on how to captialize on the current trends in your micro market, don't hesitate to give us a call! 604.644.3634

With todays market conditions, now is a great time to make a move!

Dodi and Rachael

Metro Vancouver Buyer Demand Outpacing Supply In Housing Market

Mon, 04 May 2015 21:52:00 GMT

The April 2015 Metro Vancouver Housing #'s are here! Home buyer demand is outpacing supply across the Metro Vancouver housing market, and we are seeing seller's markets across the board for both detached and attached housing in our 8 cities. This demand is putting upward pressure on prices, especially in the detached home market. If you were considering a change in lifestyle and wanting to sell your home, now is a great time to do it!

Here are the hightlights

We saw a 37% increase in residential property sales in April 2015 compared to April 2014
April 2015's sales were 29.3% above the 10-year sales average for the month
The sales-to-active-listings ratio was 33.6% for Metro Vancouver, the highest ratio since June 2007
Sales of detached properties in April 2015 were 35.9% higher than April 2014 and 70.6% higher than April 2013
Sales of apartment properties in April 2015 were 34.7% higher than April 2014 and 50.1% higher than April 2013
Sales of attached properties in April 2015 were 44.8% higher than April 2014 and 53.6% higher than April 2013

Click here for your full report: REBGV Metro Vancouver April 2015 Residential Sales

If you have any question on how to captialize on the current trends in your micro market, don't hesitate to give us a call! 604.644.3634

With todays market conditions, now is the time to make a move!

Dodi and Rachael

Metro Vancouver Home Buyers out in force in March

Thu, 02 Apr 2015 20:22:00 GMT

The March 2015 Metro Vancouver Housing #'s are here! What a month, March 2014 sales were 26.8% above the 10-year average. Strong competition amongst buyers has lead to multiple offer situations and upward pressure on prices. If you were considering a change in lifestyle and wanting to sell your home, now is a great time to do it!

Here are the hightlights

We saw a 53.7% increase in residential property sales in March 2015 compared to March 2014
March 2015's sales were 26.8% above the 10-year sales average for the month
The sales-to-active-listings ratio was 32.8% for Metro Vancouver, the highest ratio since 2007
Sales of detached properties in March 2015 were 53.3% higher than March 2014 and 83.4% higher than March 2013
Sales of apartment properties in March 2015 were 47.1% higher than March 2014 and 65.7% higher than March 2013
Sales of attached properties in March 2015 were 72.3% higher than March 2014 and 67.1% higher than March 2013

Click here for your full report: REBGV Metro Vancouver March 2015 Residential Sales

If you have any question on how to captialize on the current trends in your micro market, don't hesitate to give us a call! 604.644.3634

With todays market conditions, now is the time to make a move!

Dodi and Rachael

Metro Vancouver Home Buyer & Seller Activity Outpaces Historical February Averages

Tue, 03 Mar 2015 21:47:00 GMT

The February 2015 Metro Vancouver Housing #'s are here! The regions currently sits firmly in a

seller's market.

In February 2015 home sale & listing totals came in well above the regions 10 year averages
We saw a 21% increase in residential property sales in February 2015 compared to February 2014
February 2015's sales were 20.2% above the 10-year sales average for the month
The sales-to-active-listings ratio was 25.7% for Metro Vancouver, the highest ratio since March 2011
Sales of detached properties in February 2015 were 25.% higher than February 2014 and 84.1% higher than February 2013
Sales of apartment properties in February 2015 were 20.5% higher than February 2014 and 63.7% higher than February 2013
Sales of attached properties in February 2015 were 11.8% higher than February 2014 and 56.5% higher than February 2013

Click here for your full report: Metro Vancouver February 2015 Residential Sales

If you have any question on how to captialize on the current trends in your micro market, don't hesitate to give us a call! 604.644.3634

With todays market conditions, now is the time to make a move!

Dodi and Rachael

*Areas covered ifn this report include: Whistler, Sunshine Coas, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta

Top Real Estate Grants & Rebates for BC Property Buyers & Owners

Tue, 03 Mar 2015 18:34:00 GMT

Happy March 2015! We always love to share ways to save money, especially when it comes to your home.

The Real Esate Board of Greater Vancouver regularly compiles all the different programs a property buyer or owner can take advantage of that may offset housing costs or put a little money back in your pocket. It's a helpful tool that summarizes the scope of a program, who/how to contact, and also provides links for more information.

Here's the list of current grants and rebates available to you, updated as of February 2015. Click here to read more: Top 20 Home Buyer & Owner Grands and Rebates

RRSP/Home Buyer's Plan
GST Rebate on New Homes
BC Property Transfer Tax First-Time Home Buyers' program
First-Time Home Buyers' Tax Credidt
BC Home Owner Grant
BC Property Tax Deferment Program
Home Adaptations for Independence
CMHC Mortgage Loan Insurance Premium Refund
Energy Saving Mortgages
Low Interest Renovation Loans
Energy Conservation and Assistance Program
Energy Savings Kit Program
Home Energy Rebate Offer
BC Hydro Power Smart Partner Program for Businesses
BC Hydro Power Smart Express for Business
FortisBC Rebate Program for Homes
FortisBC Rebate Program for Business
Rain Barrel Subsidy Programs
Local Government Water Conservation Incetives
Local Governement Water Meter Programs

Best Regards,

Dodi and Rachael

Greater Vancouver Home sale & listings reach historical norms in 2014

Tue, 20 Jan 2015 22:07:00 GMT

2014 proved to be a busy year for residential sales in Greater Vancouver. Overall resiidential listing sales ranked 5th when compared to the last 10 years of activity.

The Real Estate Board of Greater Vancouver reports that 2014 total sales of detached, attached and apartment properties increased by 16.1% compared to 2013, and a 32.3% increase compared to 2012. Active listings in Greater Vancouver increased by 2.4% when compared to 2013, and declined by 4% when compared to 2012. Overall market conditions were balanced, for both buyers and sellers, even though we experienced some upward pressure on home prices over the course of the year.

If we look closely at our North Vancouver market we experienced a very strong seller's market for single family homes, and in the second half of 2014 sales and listing activity for attached properties (condos and townhoused) kept this segment firmly in a balanced market with strong momentum into 2015. With Buyer demand outpacing current listing inventory for detached homes in North Vancouver, if you are planning to sell your home, 2015 is shaping up to be a great year to do it.

North Vancouver:

Deatched home sales were: +13.9% over 2013, and +4.8% over 2012

Deatched listing inventory was: 19.8% lower than 2013, and 13.9% lower than 2012

North Vancouver:

Attached homes sales were: +15.9% over 2013, and +21.6% over 2012

Attached listings was: +3% over 2013 and even to 2012

In West Vancouver we saw continued improvement in sales, especially when compared to 2012.

West Vancouver:

Detached home sales were:+7.9% to 213 and +37.2% to 2012

Detached listing inventory was: 8.1% lower than 2013 and even to 2012

Click here REBGV December 2014 for your full stats package. If you are planning a lifestyle change or have any questions on how your micro market is performing, we'd love to talk to you. 2015 could be your year to make a move!

Regards, Dodi and Rachael

How will Real Estate in BC perform in 2015?

Tue, 16 Dec 2014 23:37:00 GMT

Seasons Greetings!

Sharing with you an interesting article posted by the Real Estate Board of Greater Vancouver on the strenght of our real estate market here in BC. They make some good points. Never hesitate to call me if you have any questions! 604.644.3634

Dodi

CMHC Housing Outlook Conference: Steady as she goes for Greater Vancouver housing market

National, provincial and local economists from the Canada Mortgage and Housing Corporation (CMHC) agree: the real estate market in British Columbia, and specifically in the Lower Mainland, will remain strong and steady into 2016. That was the overall message at their 2014 Housing Outlook Conference.

Reasons why

Presenters cited several reasons for that housing market stability. Chief Economist Bob Dugan noted that Canada’s economy should continue to improve, which in turn will continue to attract immigrants and new residents to BC. He also noted that CMHC doesn’t expect any interest or mortgage rate increases until late in 2015.

Shifting demographics will also play a role in this stability moving forward. As the baby boomer generation continues to age, we’ll see more senior-led households and more single owners in the market. They’ll either be looking to age in place (creating more jobs for home renovations) or move to smaller townhomes or condos (keeping the detached resale stock buoyant while keeping the demand for new condos and townhomes high).

Total sales in the region are forecasted to reach 32,800 this year, then slip slightly to 32,250 sales in 2015 and to 31,600 in 2016.

Senior Market Analyst Robyn Adamache pointed out that while no definitive data exists on the influence of foreign buyers on our local market, trend data can be drawn from REBGV’s monthly poll to REALTORS® who complete a sale each month. Our data indicates that foreign buyers make up approximately three per cent of home sales in any given month.

Housing affordability - steady supply

Keynote speaker and REBGV member Bob Rennie weighed in on the affordability issue. When you factor out the top 20 per cent of sales, he said, average prices become much more reasonable. Using this method, the average price of a detached home drops from the one million dollar range to around $670,000, while condos drop from $470,000 to $316,000.

He also stressed the need to assess and review zoning policies to create more opportunities for density. Today’s buyers are attracted to ‘energy centres’ where amenities like shopping, transit and schools are easily accessible. Rennie pointed specifically to strong condo sales in areas like Metrotown and the forthcoming Marine Gateway project. Keeping this supply steady while an estimated 40,000 new residents move to BC each year is key to keeping affordability in check.

“Because without supply, there’s no cure for affordability,” said Rennie.