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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 “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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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                                             

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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.

 

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* 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 2017West Vancouver March 2017Vancouver 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                                             

Read Full Story

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 2017West Vancouver February 2017Vancouver 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                                             

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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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