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Category: Market Updates

Prices Steady As Home Sales Rise

English Bay Vancouver Summer

Home sales activity rose 65% compared to previous month of May 2020, while home prices experienced minimal change.    The benchmark price for all Metro Vancouver homes that sold in June was $1,025,300, which was down 0.3% from May but up 3.5% from the same month a year ago: DETACHED home prices rose 0.5% compared […]

Sellers & Buyers Adapting To The New Norm

Spring Detached House with pink flowers

Buyers and Sellers are growing comfortable and adapting to the new real estate market norm: no open houses, virtual tours to showcase properties, COVID waivers and safety protocols for showings. Metro Vancouver saw a 37% decrease in homes listed for sale compared to a year ago May 2019, but a 59% increase compared to the […]

Downturn in Listings & Sales Provides Opportunities for both Sellers & Buyers

cherry blossoms false creek water

Due to physical distancing measures and economic uncertainty, April home sales volume dropped 56% compared to the previous month March 2020. However, home sales prices have so far remained fairly steady since the COVID-19 situation worsened in March. Sellers are currently taking advantage of the relatively low spring inventory which means less competition, while Buyers […]

COVID-19 Impacts Vancouver Housing Market

COVID-housing-market

Prior to Covid-19 stay-at-home measures, Greater Vancouver was experiencing a very strong start to the year.  The first two weeks of March were the busiest days of the year for the region with heightened demand and multiple offers being more common. As expected, the number of showings and sales slowed in the last two weeks […]

Low Supply & Buyer Demand Benefit Home Sellers

spring home for sale sign flowers hedges

  February saw increased home buyer demand compared to this time last year, while the total inventory of homes for sale struggled to keep pace.   “If you’re considering listing your home for sale, now is a good time to act with increased demand, reduced competition from other sellers, and some upward pressure on prices” […]

2020 Kicks Off With Lower Inventory Levels & Higher Home Sales

snow falling on house

The new year started with a 42% jump in home sales volume compared to January 2019, while new listing inventory was down 20% from the same time last year. In January, sales and prices continued the upward trend which started in the Fall of 2019 in most parts of Vancouver. “We’ve begun 2020 with steady […]

Home Sales Finish Stronger in Last Quarter of 2019

2019-2020 red dice

In the first part of the year many prospective buyers were in a holding pattern waiting to see how prices would react to the mortgage stress test, new taxes, and other policy changes. Buyer confidence started to return in late summer and we saw above-average sales in the second part of 2019. As a result, […]

Real Estate Slowdown Officially Over

Festive Winter Holiday House Door

After flattening out in the summer, the real estate market rallied in the Fall and continued its positive trend in November with many areas moving from buyer’s markets to balanced markets and some into seller’s markets. Canada Mortgage and Housing Corporation (CMHC) is forecasting price increases in 2020 in British Columbia: “Prices will start recovering […]

Buyers Coming Back to the Market

Fall in Vancouver - colorful leaves

After sitting on the sidelines for roughly a year, many buyers are now jumping back into the Vancouver market and soaking up inventory. Vancouver home sales were 45% higher last month compared to October 2018, and inventory that had piled up is now thinning out. Home prices in most areas are currently still lower than […]

September Market Indicates Home Sales Increasing, Prices Leveling

vancouver false creek beach ave side at dusk - 300

The number of sales transactions in September 2019 was 46.3% higher than in September 2018, and continued to trend upwards on a month-to-month basis. Meanwhile the Home Price Index showed a flattening of prices, which could possibly indicate the market is near, or at, the bottom of the recent price correction in Greater Vancouver.   […]

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