Category: Market Updates

Housing Market Update April 2018

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HOME SALES DROP, WHILE PRICES CLIMB “High prices, new tax announcements, rising interest rates, and stricter mortgage requirements are among the factors affecting home buyer and seller activity today” – Real Estate Board Greater Vancouver President   LOW INVENTORY & NEW LISTINGS = LOW SALES Overall home sales are down 30% compared to March 2017 […]

Housing Market Update March 2018

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HOUSING SALES DIP WHILE PRICES RISE “Rising interest rates and stricter mortgage requirements have reduced home buyers’ purchasing power, particularly for those at the entry level of our market … Even still, the supply of apartment and townhome properties for sale today is unable to meet demand. On the other hand, our detached home market […]

Housing Market Update Feb 2018

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STRONG DEMAND FOR CONDOS & TOWNHOMES Townhomes and condos are in demand across Metro Vancouver … while detached home buyers are facing less competition today. Detached home sales last month were up 9.7% from January 2017. The benchmark price for detached properties is $1,601,500. This represents an 8.3% increase from a year ago January 2017. […]

Housing Market Update Jan 2018

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2017 Vancouver Housing Market: Steady Sales and Prices Hikes The benchmark price for all residential properties in Metro Vancouver ends the year at $1,050,300, up 16% compared to December 2016. “Market activity differed considerably this year based on property type … Competition was intense in the condominium and townhome markets, with multiple offer situations becoming […]

Housing Market Update Dec 2017

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Steady Demand Continues for Townhomes & Condos Overall housing sales are up 26% compared to a year ago November 2016. Detached home prices rose 6.1% from this time last year, reaching $1,608,000. Condo prices jumped 24% compared to November 2016, reaching a benchmark price of $648,200. Townhome prices increased 18% compared to November 2016, to a […]

November 2017 Housing Market Update

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ABOVE AVERAGE SALES AS BUYERS SNAP UP PROPERTIES AHEAD OF NEW MORTGAGE REQUIREMENTS IN JANUARY   October homes sales in Metro Vancouver were 15% above the 10-year October sales average.   “The federal government’s announcement of plans to tighten mortgage requirements for the seventh time in the last eight years also helped spur activity in the […]

Housing Market Update Oct 2017

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Condos Favour Sellers, Detached Homes Edge Towards Buyers Vancouver condos and townhomes are firmly in a sellers’ market, while supply vs demand of detached homes is edging toward a buyers’ market, according to new figures from the Real Estate Board of Greater Vancouver. “Detached homes made up 30% of all sales in September and represented […]

Housing Market Update Sept 2017

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 First-time Home Buyers Driving Competition for Condos & Townhomes “First time homebuyers have led a surge this summer in demand in our condominium and townhome markets,” said REBGV president … “Homes priced between $350,000 and $750,000 have been subject to intense competition and multiple offers”. Condos and townhouses remain a Sellers market. Benchmark apartment prices […]

Housing Market Update Aug 2017

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Vancouver home sales dip, but prices continue to rise Sales fell 8.2% last month from July 2016, according to the Real Estate Board of Greater Vancouver report released this week, but prices continue to rise as the benchmark price across all property types in Metro Vancouver surpasses $1 million for the first time. The average […]

Housing Market Update July 2017

A high angle view of Vancouver's False Creek and the crowded downtown skyline, Vancouver, B.C., May 4, 2015. Bayne Stanley/CP

Imbalance Between Supply and Demand in the Condo Market 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,” […]

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