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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

Home Buyer Demand in Metro Vancouver below historical averages in August

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 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 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 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, 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 

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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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