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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 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 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 current on August 2, 2017 from the Real Estate Board of Greater Vancouver                                             

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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 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 July 4, 2017 from the Real Estate Board of Greater Vancouver                                             

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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                                             

Read Full Story

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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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                                             

Read Full Story

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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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