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News & Tips

It’s our privilege to be your trusted source of information on Vancouver’s real estate market updates so that you can stay current with the latest tips, trends, and stats. Feel free to contact us anytime with your questions.

BC Real Estate Update May 2017

bcrea BLUE housing market update

BC Home Sales Turn Higher, Inventories at 20-Year Low Vancouver BC – May 2017 – The British Columbia Real Estate Association (BCREA) that a total of 9,865 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, down 23.9 per cent from the same period last year. Total sales dollar volume was […]

Housing Market Update May 2017

A row a new townhouses in Richmond, British Columbia

TOWNHOME & CONDO DEMAND DRIVING VANCOUVER’S REAL ESTATE MARKET Between January and April 2017, condo and townhome sales contributed to 68.5% of total home sales across Metro Vancouver, according to Real Estate Board of Greater Vancouver data released May 2nd. Over the last three months, the benchmark price of condominiums has seen the largest increase […]

Housing Market Update April 2017

townhome & cherry blossom flowers

Higher Demand Than Supply for Homes Across Vancouver Low housing inventory coupled with strong demand, specifically for condos and townhomes, propelled the market in March. The number of new listings has not been this low since March 2009. Ongoing competition to purchase condos and townhomes means attached home prices will likely continue to increase until […]

Empty Homes Tax

Empty Homes Tax Image

The Empty Homes Tax will be applied annually, with the first tax year beginning on January 1, 2017. Homes that are deemed empty will be subject to a tax of 1% of the property’s BC Assessment value. Most homes will not be subject to the tax, as it does not apply to principal residences or homes […]

Housing Market Update March 2017

REBGV market update white

Condo Demand Continues to Outstrip Supply Demand for condos and townhomes remain high, even though year-over-year sales volume of attached properties were down approximately 30 percent. Condo prices have increased 2.3 percent over the past six months and February 2017 prices were up 2.7 percent compared to January 2017.  We continue to experience an extremely competitive condo market, […]

Property Transfer Tax Exemption Threshold Raised to $500,000

tax squeeze

Vancouver, BC – February 22, 2017 – Budget 2017— BCREA News Release On the heels of multiple government announcements in 2016 and early 2017, the British Columbia Real Estate Association (BCREA) welcomes the latest: an increase in the Property Transfer Tax exemption threshold for first-time buyers, announced in Budget 2017. The increase, to $500,000 from […]

Property Transfer Tax

Property Transfer Tax

Property Transfer Tax (PTT) is a provincial land registration tax paid by a property buyer or owner when a property title is registered at the Land Title and Survey Authority (LTSA). How much is the PTT? The PTT is charged on the fair market value of a property at a rate of: 1% on the first $200,000 […]

5 Tips for Condo Buyers Facing Bidding Wars

BiddingWar

As we help our clients navigate the current market, we continue to see high demand for condos, especially at the lower-to-mid range price points. Many of our clients who have been trying to purchase since early January, have been repeatedly faced with multiple offer and “subject-free” competition. A factor that may be feeding this demand […]

2017 Property Assessments vs Market Value

BC Assessment

You likely received your BC Assessment notice in the mail last month and saw a substantial increase in your home value.  Metro Vancouver property assessments saw an uptick of 15-50 percent in 2017.   Larger property assessments increase for single-family homes Increases of 30-50% were typical for single-family homes in Vancouver, North and West Vancouver, […]

Housing Market Update Feb 2017

January-Real-Estate-Market-2017

Mixed Start to the New Year for Vancouver’s Housing Market After near record-breaking housing sales in 2016, the Vancouver real estate market started the year in January 2017 with a mix of cooling trends in some areas and hot spots in others. Overall, Vancouver residential real estate sales volume for January 2017 was down approximately […]

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