Dodi Thorhaug : Re/Max Dodi Thorhaug Realty

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. 

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                                             

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 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                                             

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                                             

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.

 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 February 1, 2017 from the Real Estate Board of Greater Vancouver