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Market Updates

During the process of buying or selling a home, countless questions are bound to surface regardless of how "seasoned" you are in Real Estate.  Some questions are easily answered, however others may require a bit of research and study.   I understand how difficult it can be to sift through the mountain of information out there in order to find answers that are relevant and meaningful to you.  

As a firm believer in "knowledge is power," I do my best to educate and inform my Buyers and Sellers about the current market conditions and the process involved once you have made the decision to move.     

If you would like to receive regular Market Updates or newsletters please contact me at dodi.t@shaw.ca or call me at 604-644-3634

Latest News

The British Columbia Real Estate Association Reports: 

 

Multiple Listing Service® (MLS®) residential sales in the province are on pace to reach 101,000 units this year, a decline of 10 per cent from a record 112,200 unit sales in 2016. Housing demand gained strength this spring, as some of the effects of federal and provincial policy efforts to tamp it down dissipated. The shock to consumer confidence that followed the implementation of these measures, particularly the foreign buyer tax in Vancouver, has largely run its course. More importantly, strong economic and demographic fundamentals are underpinning an elevated level of transactions in BC. 

 

Click here to read the full report.

 

If you have any questions on how you can capitalize on today's real estate market give me a call! 604.644.3634!

 

Regards

Dodi

 

ps. The compliment of your referrals is always welcome!

 

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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."

 

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 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 April reports here: North VancouverWest VancouverVancouver 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                                             

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I have sold a property at 3121 SUNNYHURST RD in North Vancouver.
Fabulous modern 1,965 sq.ft. 3 level corner unit townhouse. Special features include: gas f/p, skylights, 9' ceilings, hardwood flooring, granite counters, centre island, custom lighting and detached garage. The upper level offers 3 bedrooms and 2 bathrooms, the main level is great for entertaining with an inviting open plan living/dining/kitchen and living room. The lower level is perfect for any family w/plenty of light, an over-sized recreation room, 4th bathroom, laundry room, and storage. Master has ensuite w/jetted tub and balcony. Only 7 units in the complex. "Eagle Lynn" is within a stones throw to Lynn Valley Centre and every amenity. Pet friendly. Rentals allowed. Argyle High School and Lynn Valley Elementary are within walking distance.
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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. 

 

 

 

 

 

 

 

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Please visit our Open House at 3121 SUNNYHURST RD in North Vancouver.
Open House on Sunday, May 28, 2017 2:00PM - 4:00PM
Fabulous modern 1,965 sq.ft. 3 level corner unit townhouse. Special features include: gas f/p, skylights, 9' ceilings, hardwood flooring, granite counters, centre island, custom lighting and detached garage. The upper level offers 3 bedrooms and 2 bathrooms, the main level is great for entertaining with an inviting open plan living/dining/kitchen and living room. The lower level is perfect for any family w/plenty of light, an over-sized recreation room, 4th bathroom, laundry room, and storage. Master has ensuite w/jetted tub and balcony. Only 7 units in the complex. "Eagle Lynn" is within a stones throw to Lynn Valley Centre and every amenity. Pet friendly. Rentals allowed. Argyle High School and Lynn Valley Elementary are within walking distance. Open House Sunday May 28th 2pm-4pm.
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604–644–3634
dodi.t@shaw.ca

RE/MAX Dodi Thorhaug Realty
#101-2609 Westview Drive North Vancouver, BC V7N 4M2 Canada

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