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VANCOUVER, BC – April 4, 2018 – Home buyers and sellers were less active in Metro Vancouver* throughout the first quarter of 2018.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,517 in March 2018, a 29.7 percent decrease from the 3,579 sales recorded in March 2017, and a 14 percent increase compared to February 2018 when 2,207 homes sold.

Last month’s sales were 23 percent below the 10-year March sales average.

There were 6,542 home sales on the Multiple Listing Service® (MLS®) in Metro Vancouver during the first quarter of 2018, a 13.1 percent decrease from the 7,527 sales over the same period last year. This represents the region’s lowest first-quarter sales total since 2013.

“We saw less demand from buyers and fewer homes listed for sale in our region in the first quarter of the year,” Phil Moore, REBGV president said. “High prices, new tax announcements, rising interest rates, and stricter mortgage requirements are among the factors affecting home buyer and seller activity today.”

There were 4,450 detached, attached and apartment properties newly listed for sale in Metro Vancouver in March 2018. This represents a 6.6 percent decrease compared to the 4,762 homes listed in March 2017 and a 5.4 percent increase compared to February 2018 when 4,223 homes were listed.

There were 12,469 homes listed for sale in Metro Vancouver during the first quarter of 2018, a 0.8 percent decrease from the 12,568 sales over the same period last year. This represents the region’s lowest first-quarter new listings total since 2013.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,380, a 10.5 percent increase compared to March 2017 (7,586) and a 7.1 percent increase compared to February 2018 (7,822).

“Even with lower demand, upward pressure on prices will continue as long as the supply of homes for sale remains low,” Moore said. “Last month was the quietest March for new home listings since 2009 and the total inventory, particularly in the condo and townhome segments, of homes for sale remains well below historical norms.”

For all property types, the sales-to-active listings ratio for March 2018 is 30 percent. By property type, the ratio is 14.2 percent for detached homes, 39.9 percent for townhomes, and 61.6 percent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 percent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,084,000. This represents a 16.1 percent increase over March 2017 and a 1.1 percent increase compared to February 2018.

Sales of detached properties in March 2018 reached 722, a decrease of 37 percent from the 1,150 detached sales recorded in March 2017. The benchmark price for detached properties is $1,608,500. This represents a 7.4 percent increase from March 2017 and a 0.4 percent increase compared to February 2018.

Sales of apartment properties reached 1,349 in March 2018, a decrease of 26.7 percent compared to the 1,841 sales in March 2017. The benchmark price of an apartment property is $693,500. This represents a 26.2 percent increase from March 2017 and a 1.6 percent increase compared to February 2018.

Attached property sales in March 2018 totalled 446, a decrease of 24.1 percent compared to the 588 sales in March 2017. The benchmark price of an attached unit is $835,300. This represents a 17.7 percent increase from March 2017 and a two percent increase compared to February 2018.

 

 

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VANCOUVER, BC – April 4, 2018 – Home buyers and sellers were less active in Metro Vancouver* throughout the first quarter of 2018.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,517 in March 2018, a 29.7 percent decrease from the 3,579 sales recorded in March 2017, and a 14 percent increase compared to February 2018 when 2,207 homes sold.

Last month’s sales were 23 percent below the 10-year March sales average.

There were 6,542 home sales on the Multiple Listing Service® (MLS®) in Metro Vancouver during the first quarter of 2018, a 13.1 percent decrease from the 7,527 sales over the same period last year. This represents the region’s lowest first-quarter sales total since 2013.

“We saw less demand from buyers and fewer homes listed for sale in our region in the first quarter of the year,” Phil Moore, REBGV president said. “High prices, new tax announcements, rising interest rates, and stricter mortgage requirements are among the factors affecting home buyer and seller activity today.”

There were 4,450 detached, attached and apartment properties newly listed for sale in Metro Vancouver in March 2018. This represents a 6.6 percent decrease compared to the 4,762 homes listed in March 2017 and a 5.4 percent increase compared to February 2018 when 4,223 homes were listed.

There were 12,469 homes listed for sale in Metro Vancouver during the first quarter of 2018, a 0.8 percent decrease from the 12,568 sales over the same period last year. This represents the region’s lowest first-quarter new listings total since 2013.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,380, a 10.5 percent increase compared to March 2017 (7,586) and a 7.1 percent increase compared to February 2018 (7,822).

“Even with lower demand, upward pressure on prices will continue as long as the supply of homes for sale remains low,” Moore said. “Last month was the quietest March for new home listings since 2009 and the total inventory, particularly in the condo and townhome segments, of homes for sale remains well below historical norms.”

For all property types, the sales-to-active listings ratio for March 2018 is 30 percent. By property type, the ratio is 14.2 percent for detached homes, 39.9 percent for townhomes, and 61.6 percent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 percent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,084,000. This represents a 16.1 percent increase over March 2017 and a 1.1 percent increase compared to February 2018.

Sales of detached properties in March 2018 reached 722, a decrease of 37 percent from the 1,150 detached sales recorded in March 2017. The benchmark price for detached properties is $1,608,500. This represents a 7.4 percent increase from March 2017 and a 0.4 percent increase compared to February 2018.

Sales of apartment properties reached 1,349 in March 2018, a decrease of 26.7 percent compared to the 1,841 sales in March 2017. The benchmark price of an apartment property is $693,500. This represents a 26.2 percent increase from March 2017 and a 1.6 percent increase compared to February 2018.

Attached property sales in March 2018 totalled 446, a decrease of 24.1 percent compared to the 588 sales in March 2017. The benchmark price of an attached unit is $835,300. This represents a 17.7 percent increase from March 2017 and a two percent increase compared to February 2018.

 

 

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VANCOUVER, BC – March 2, 2018 – Metro Vancouver* home sales dipped below the longterm historical average in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,207 in February 2018, a nine percent decrease from the 2,424 sales recorded in February 2017, and a 21.4 percent increase compared to January 2018 when 1,818 homes sold.

Last month’s sales were 14.4 percent below the 10-year February sales average. By property type, detached sales were down 39.4 percent over the same period, attached sales were down 6.8 percent, and apartment sales were 5.5 percent above the 10-year February average.

“Rising interest rates and stricter mortgage requirements have reduced home buyers’ purchasing power, particularly for those at the entry level of our market,” Jill Oudil, REBGV president said. “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 is beginning to enter buyers’ market territory.”

There were 4,223 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2018. This represents a 15.2 percent increase compared to the 3,666 homes listed in February 2017 and an 11.2 percent increase compared to January 2018 when 3,796 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,822, a three percent increase compared to February 2017 (7,594) and a 12.6 percent increase compared to January 2018 (6,947).

“The spring is traditionally the busiest time for home buyers and sellers in our market. We’ll wait to see how they react to the taxes and other policy measures that our provincial and federal governments have introduced so far this year,” Oudil said. “To help you navigate these changes in today’s housing market, it’s important to work with your local REALTOR®.”

For all property types, the sales-to-active listings ratio for February 2018 is 28.2 percent. By property type, the ratio is 13 percent for detached homes, 37.6 percent for townhomes, and 59.7 percent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 percent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,071,800. This represents a 16.9 percent increase over February 2017 and a 1.4 percent increase compared to January 2018.

Sales of detached properties in February 2018 reached 621, a 16.6 percent decrease from the 745 detached sales recorded in February 2017. The benchmark price for detached properties is $1,602,000. This represents an 8.2 percent increase from February 2017 and is virtually unchanged from January 2018.

Sales of apartment properties reached 1,185 in February 2018, a 7.1 percent decrease compared to the 1,275 sales in February 2017. The benchmark price of an apartment property is $682,800. This represents a 27.2 percent increase from February 2017 and a 2.6 percent increase compared to January 2018.

Attached property sales in February 2018 totalled 401, a 0.7 percent decrease compared to the 404 sales in February 2017. The benchmark price of an attached unit is $819,200. This represents an 18.1 percent increase from February 2017 and a 1.9 percent increase compared to January 2018.

 

 

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I have sold a property at 304 788 8TH AVE E in Vancouver.
Smart 2 bedroom corner suite at Chelsea Court. Impressively efficient layout with open plan kitchen, 2 balconies, great natural light from the north and east, and lovely mountain view. The suite is in mostly original condition and well maintained by the long term owner including a new hot water tank. In-suite laundry, storage locker, bike room and one underground parking space included. Chelsea Court is one of the few Mount Pleasant buildings that allows both pets and rentals. All this and a short walk to transit, recreation, great Mt. Pleasant/Main Street shops and restaurants. OPEN SUNDAY Feb 18th, 1:30 to 4:30.
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I have listed a new property at 304 788 8TH AVE E in Vancouver.
Smart 2 bedroom corner suite at Chelsea Court. Impressively efficient layout with open plan kitchen, 2 balconies and great natural light from the north and east. The suite is in mostly original condition and well maintained by the long term owner including a new hot water tank. In-suite laundry, storage locker, bike room and one underground parking space included. Chelsea Court is one of the few Mount Pleasant buildings that allows both pets and rentals. All this and a short walk to transit, recreation, great Mt. Pleasant/Main Street shops and restaurants. OPEN SUNDAY Feb 18th, 1:30 to 4:30.
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Please visit our Open House at 304 788 8TH AVE E in Vancouver.
Open House on Sunday, February 18, 2018 1:30PM - 4:30PM
Smart 2 bedroom corner suite at Chelsea Court. Impressively efficient layout with open plan kitchen, 2 balconies and great natural light from the north and east. The suite is in mostly original condition and well maintained by the long term owner including a new hot water tank. In-suite laundry, storage locker, bike room and one underground parking space included. Chelsea Court is one of the few Mount Pleasant buildings that allows both pets and rentals. All this and a short walk to transit, recreation, great Mt. Pleasant/Main Street shops and restaurants. OPEN SUNDAY Feb 18th, 1:30 to 4:30.
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VANCOUVER, BC – February 2, 2018 – Attached and apartment homes are in demand across Metro Vancouver* while detached home buyers are facing less competition today.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,818 in January 2018, a 19.4 percent increase from the 1,523 sales recorded in January 2017, and a 9.8 percent decrease compared to December 2017 when 2,016 homes sold.

Last month’s sales were 7.1 percent above the 10-year January sales average. By property type, detached sales were down 24.8 percent from the 10-year January average, attached sales increased 14.3 percent and apartment sales were up 31.6 percent over the same period.

“Demand remains elevated and listings scarce in the attached and apartment markets across Metro Vancouver,” Jill Oudil, REBGV president said. “Buyers in the detached market are facing less competition and have much more selection to choose. For detached home sellers to be successful,it’s important to set prices that reflect today’s market trends.”

There were 3,796 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2018. This represents an 8.3 percent decrease compared to the 4,140 homes listed in January 2017 and a 100.7 percent increase compared to December 2017 when 1,891 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,947, a four percent decrease compared to January 2017 (7,238) and a 0.2 percent decrease compared to December 2017 (6,958).

For all property types, the sales-to-active listings ratio for January 2018 is 26.2 percent. By property type, the ratio is 11.6 percent for detached homes, 32.8 per cent for townhomes, and 57.2 percent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 percent over several months.

The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $1,056,500. This represents a 16.6 percent increase over January 2017 and a 0.6 percent increase compared to December 2017.

Detached home sales in January 2018 reached 487, a 9.7 percent increase from the 444 detached sales recorded in January 2017. The benchmark price for detached properties is $1,601,500. This represents an 8.3 percent increase from January 2017 and a 0.3 percent decrease compared to December 2017.

Apartment home sales reached 1,012 in January 2018, a 22.7 percent increase compared to the 825 sales in January 2017. The benchmark price of an apartment property is $665,400. This represents a 27.4 percent increase from January 2017 and a 1.5 percent increase compared to December 2017.

Attached home sales in January 2018 totalled 319, a 25.6 percent increase compared to the 254 sales in January 2017. The benchmark price of an attached unit is $803,700. This represents a 17.5 percent increase from January 2017 and unchanged compared to December 2017.

 

 

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VANCOUVER, BC – January 3, 2018 – After reaching record levels in 2015 and 2016, Metro Vancouver* home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity.

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a 9.9 percent decrease from the 39,943 sales recorded in 2016, and a 15 percent decrease over the 42,326 residential sales in 2015.

Last year’s sales total was, however, 9.7 per cent above the 10-year sales average.

“It was a steady year for home sales across the region, led by condominium and townhome activity, and a quieter year for home listings,” Jill Oudil, REBGV president said. “Metro Vancouver home sales were the third highest we’ve seen in the past ten years while the home listings total was the second lowest on record for the same period.”

Home listings in Metro Vancouver reached 54,655 in 2017. This is a 5.1 percent decrease compared to the 57,596 homes listed in 2016 and a 4.5 percent decrease compared to the 57,249 homes listed in 2015.

Last year’s listings total was 4.4 percent below the 10-year listings average.

“Market activity differed considerably this year based on property type,” Oudil said. “Competition was intense in the condominium and townhome markets, with multiple offer situations becoming commonplace. The detached home market operated in a more balanced state, giving home buyers more selection to choose from and more time to make decisions.”

The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,050,300. This is up 15.9 per cent compared to December 2016.

The benchmark price of condominiums increased 25.9 percent in the region last year. Townhomes increased 18.5 percent and detached homes increased 7.9 percent.

“Strong economic growth, low interest rates, declining unemployment, increasing wages and a growing population all helped boost home buyer demand in our region last year,” Oudil said.

December summary

Sales of detached, attached, and apartment properties totalled 2,016 in the region in December 2017, a 17.6 percent increase from the 1,714 sales recorded in December 2016 and a 27.9 percent decrease compared to November 2017 when 2,795 homes sold.

Last month’s sales were 7.5 percent above the 10-year sales average for the month.

“As we move into 2018, REALTORS® are working with their clients to help them understand how changing interest rates and the federal government’s new mortgage qualifications could affect their purchasing power,” Oudil said. “Only time will tell what impact these rules will have on the market.

“Home buyers today should get pre-approved before making an offer to ensure that your home buying goals align with your financial situation,” Oudil said.

There were 1,891 residential homes newly listed for sale in December 2017. This represents a 44.1 percent increase compared to the 1,312 homes listed in December 2016 and a 54 percent decrease compared to November 2017 when 4,109 properties were listed.

The total number of homes currently listed for sale on the MLS® in Metro Vancouver is 6,958, a 9.7 percent increase compared to December 2016 (6,345) and a 20.5 percent decrease compared to November 2017 (8,747).

The sales-to-active listings ratio for December 2017 is 29 percent. By property type, the ratio is 14.4 percent for detached homes, 38.8 percent for townhomes, and 59.6 per cent forcondominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 percent over several months.

Sales of detached properties in December 2017 reached 617, a 14 percent increase from the 541 detached sales recorded in December 2016. The benchmark price for a detached home in the region is $1,605,800. This represents a 7.9 percent increase compared to December 2016.

Sales of apartment homes reached 1,028 in December 2017, a 12.3 percent increase compared to the 915 sales in December 2016.The benchmark price of an apartment in the region is $655,400. This represents a 25.9 percent increase compared to December 2016.

Attached (or townhome) property sales in December 2017 totalled 371, a 43.8 percent increase compared to the 258 sales in December 2016. The benchmark price of an attached home in the region is $803,700. This represents an 18.5 percent increase compared to December 2016.

 

 

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VANCOUVER, BC – December 4, 2017 – Metro Vancouver* saw modest home listing changes and steady demand in November.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 percent increase from the 2,214 sales recorded in November 2016, and a 7.5 percent decrease compared to October 2017 when 3,022 homes sold.

Last month’s sales were 17 percent above the 10-year November sales average.

“We’re seeing steady demand in today’s market. Home buyer activity is operating above our long-term averages, particularly in our townhome and condominium markets,” Jill Oudil, REBGV president said.

There were 4,109 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2017. This represents a 30.6 percent increase compared to the 3,147 homes listed in November 2016 and a 9.5 percent decrease compared to October 2017 when 4,539 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,747, a 4.3 percent increase compared to November 2016 (8,385) and a 4.3 percent decrease compared to October 2017 (9,137).

“While we’re seeing more listings enter the market today than we saw at this time last year, we have a long way to go before our home listing inventory rises back to more historically typical levels,” Oudil said.

The sales-to-active listings ratio for November 2017 is 32 percent, which is up three percent since September 2017. By property type, the ratio is 15.9 percent for detached homes (up one percent since September 2017), 36.4 percent for townhomes (down six percent since September 2017), and 67.8 percent for condominiums (up seven percent since September 2017).

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 pecent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,046,900. This represents a 14 percent increase over November 2016 and a 0.4 percent increase compared to October 2017.

Sales of detached properties in November 2017 reached 841, a 31.8 percent increase from the 638 detached sales recorded in November 2016. The benchmark price for detached properties is $1,608,000. This represents a 6.1 percent increase from November 2016 and a 0.1 percent decrease compared to October 2017.

Sales of apartment properties reached 1,508 in November 2017, a 25.7 percent increase compared to the 1,200 sales in November 2016. The benchmark price of an apartment property is $648,200. This represents a 23.9 percent increase from November 2016 and a one percent increase compared to October 2017.

Attached property sales in November 2017 totalled 446, an 18.6 percent increase compared to the 376 sales in November 2016. The benchmark price of an attached unit is $805,200. This represents a 17.9 percent increase from November 2016 and a 0.3 percent increase compared to October 2017.

 

 

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VANCOUVER, BC – November 2, 2017 – Metro Vancouver* home sales exceeded typical historical levels in October with the majority concentrated in the townhouse and apartment markets.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,022 in October 2017, a 35.3 percent increase from the 2,233 sales recorded in October 2016, and an increase of 7.1 percent compared to September 2017 when 2,821 homes sold.

Last month’s sales were 15 percent above the 10-year October sales average.

"Conditions continue to vary significantly based on property type. The detached home market is well supplied with homes for sale, which is relieving pressure on prices," Jill Oudil, REBGV president said. "It remains a much different story in the townhouse and apartment markets. Buyers of these properties continue to have limited supply to choose from and are seeing upward pressure on prices."

There were 4,539 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2017. This represents a 14 percent increase compared to the 3,981 homes listed in October 2016 and a 15.6 percent decrease compared to September 2017 when 5,375 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,137, a 0.1 percent decrease compared to October 2016 (9,143) and a 3.5 percent decrease compared to September 2017 (9,466).

For all property types, the sales-to-active listings ratio for October 2017 is 33.1 percent. By property type, the ratio is 16.8 percent for detached homes, 44.8 per cent for townhomes, and 66 percent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 percent over several months.

"The growth in our provincial economy and job market is contributing to today's demand," Oudil said. "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 short term. Many buyers are trying to enter the market before the changes are in place."

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,042,300. This represents a 12.4 percent increase over October 2016 and a 0.5 percent increase compared to September 2017.

Sales of detached properties in October 2017 reached 940, a 44.2 percent increase from the 652 detached sales recorded in October 2016 and a 34.6 percent decrease from the 1,437 sales in October 2015. The benchmark price for detached properties is $1,609,600. This represents a four percent increase from October 2016 and a 0.5 percent decrease compared to September 2017.

Sales of apartment properties reached 1,532 in October 2017, a 30.1 percent increase compared to the 1,178 sales in October 2016 and a 0.7 percent decrease from the 1,543 sales in October 2015. The benchmark price of an apartment property is $642,000. This represents a 22.7 percent increase from October 2016 and a one percent increase compared to September 2017.

Attached property sales in October 2017 totalled 550, a 36.5 percent increase compared to the 403 sales in October 2016 and a 17.4 percent decrease from the 666 sales in October 2015. The benchmark price of an attached unit is $802,400. This represents a 17.7 percent increase from October 2016 and a two percent increase compared to September 2017.

 

 

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I have sold a property at 309 345 10TH AVE W in Vancouver.
Updated and tranquil city home in gorgeous City Hall neighbourhood! This beautifully maintained 1 BR suite offers an attractively renovated kitchen and bathroom, along with updated flooring, lighting and window coverings. The Mt Pleasant West location is perfect: a pretty tree-lined street yet only 3 minutes walk to Canada Line, a few blocks to restaurants, shopping (Whole Foods, Save-On, No Frills, Home Depot, small retailers) and is really convenient to downtown, the Seawall, airport, and everything else. All in a well managed, pro-active building with lots of capital upgrades: pipes, boiler, entry, south parkade membrane, enterphone and landscaping. One parking, locker, and bike storage. Sorry, no pets or rentals.
Read full post

Please visit our Open House at 309 345 10TH AVE W in Vancouver.
Open House on Sunday, October 15, 2017 2:00PM - 4:00PM
Updated and tranquil city home in gorgeous City Hall neighbourhood! This beautifully maintained 1 BR suite offers an attractively renovated kitchen and bathroom, along with updated flooring, lighting and window coverings. The Mt Pleasant West location is perfect: a pretty tree-lined street yet only 3 minutes walk to Canada Line, a few blocks to restaurants, shopping (Whole Foods, Save-On, No Frills, Home Depot, small retailers) and is really convenient to downtown, the Seawall, airport, and everything else. All in a well managed, pro-active building with lots of capital upgrades: pipes, boiler, entry, south parkade membrane, enterphone and landscaping. One parking, locker, and bike storage. Sorry, no pets or rentals. OPEN Sunday Oct 15th, 2 to 4.
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VANCOUVER, BC – October 3, 2017 – Apartment and townhome activity is outpacing the detached home market across Metro Vancouver*. This activity helped push total residential sales above the historical average in September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,821 in September 2017, a 25.2 percent increase from the 2,253 sales recorded in September 2016, and a 7.3 percent decrease compared to August 2017 when 3,043 homes sold.

Last month’s sales were 13.1 percent above the 10-year September sales average.

“Our detached homes market is balanced today, while apartment and townhome sales remain in sellers' market territory,” Jill Oudil, REBGV president said. “If you’re looking to enter the market, as either a buyer or seller, it’s important to understand these trends and use this information to set realistic expectations.”

There were 5,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2017. This represents a 12 percent increase compared to the 4,799 homes listed in September 2016 and a 26.6 percent increase compared to August 2017 when 4,245 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,466, a 1.2 percent increase compared to September 2016 (9,354) and a 7.5 percent increase compared to August 2017 (8,807).

“Detached homes made up 30 percent of all sales in September and represented 62 percent of all the homes listed for sale on the MLS®,” said Oudil. “This dynamic has slowed the pace of upward pressure that we’ve seen on detached home prices in our market over the last few years.”

For all property types, the sales-to-active listings ratio for September 2017 is 29.8 percent. By property type, the ratio is 14.6 percent for detached homes, 42.3 percent for townhomes, and 60.4 percent for apartments.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 percent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,037,300. This represents a 10.9 percent increase over September 2016 and a 0.7 percent increase compared to August 2017.

Sales of detached properties in September 2017 reached 852, a 27.9 percent increase from the sales recorded in September 2016 (666), a decrease of 33 percent from September 2015 (1,272), and a decrease of 32.9 percent from September 2014 (1,270). The benchmark price for detached properties is $1,617,300. This represents a 2.9 percent increase from September 2016 and a 0.1 percent increase compared to August 2017.

Sales of apartment properties reached 1,451 in September 2017, a 19.1 percent increase compared from the sales recorded in September 2016 (1,218), a 5.1 percent decrease from September 2015 (1,529), and a 22.1 percent increase from September 2014 (1,188). The benchmark price of an apartment property is $635,800. This represents a 21.7 percent increase from September 2016 and a 1.4 percent increase compared to August 2017.

Attached property sales in September 2017 totalled 518, a 40.4 percent increase compared to the sales recorded in September 2016 (369), a 4.8 percent decrease from September 2015 (544), and an 11.6 percent increase from September 2014 (464). The benchmark price of an attached home is $786,600. This represents a 14.5 percent increase from September 2016 and a 1.1 percent increase compared to August 2017.

 

 

Download The Full Market Report Here

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Please visit our Open House at 309 345 10TH AVE W in Vancouver.
Open House on Saturday, October 7, 2017 1:30PM - 3:30PM
Updated and tranquil city home in gorgeous City Hall neighbourhood! This beautifully maintained 1 BR suite offers an attractively renovated kitchen and bathroom, along with updated flooring, lighting and window coverings. The Mt Pleasant West location is perfect: a pretty tree-lined street yet only 3 minutes walk to Canada Line, a few blocks to restaurants, shopping (Whole Foods, Save-On, No Frills, Home Depot, small retailers) and is really convenient to downtown, the Seawall, airport, and everything else. All in a well managed, pro-active building with lots of capital upgrades: pipes, boiler, entry, south parkade membrane, enterphone and landscaping. One parking, locker, and bike storage. Sorry, no pets or rentals. OPEN SAT 7th, 1:30 to 3:30.
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I have listed a new property at 309 345 10TH AVE W in Vancouver.
Updated and tranquil city home in gorgeous City Hall neighbourhood! This beautifully maintained 1 BR suite offers an attractively renovated kitchen and bathroom, along with updated flooring, lighting and window coverings. The Mt Pleasant West location is perfect: a pretty tree-lined street yet only a few blocks to Canada Line, restaurants, parks, shopping (Whole Foods, Save-On, No Frills, Home Depot, small retailers) and is really convenient to downtown, airport, and everything else. All in a well managed, pro-active building with lots of capital upgrades: pipes, boiler, entry, south parkade membrane, enterphone and landscaping. One parking, locker, and bike storage. Sorry, no pets or rentals. Open Saturday 30th and Sunday 1st, 2 to 4. Come see!
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Please visit our Open House at 309 345 10TH AVE W in Vancouver.
Open House on Saturday, September 30, 2017 2:00PM - 4:00PM
Updated and tranquil city home in gorgeous City Hall neighbourhood! This beautifully maintained 1 BR suite offers an attractively renovated kitchen and bathroom, along with updated flooring, lighting and window coverings. The Mt Pleasant West location is perfect: a pretty tree-lined street yet only a few blocks to Canada Line, restaurants, parks, shopping (Whole Foods, Save-On, No Frills, Home Depot, small retailers) and is really convenient to downtown, airport, and everything else. All in a well managed, pro-active building with lots of capital upgrades: pipes, boiler, entry, south parkade membrane, enterphone and landscaping. One parking, locker, and bike storage. Sorry, no pets or rentals. Open Saturday 30th and Sunday 1st, 2 to 4. Come see!
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Please visit our Open House at 309 345 10TH AVE W in Vancouver.
Open House on Sunday, October 1, 2017 2:00PM - 4:00PM
Updated and tranquil city home in gorgeous City Hall neighbourhood! This beautifully maintained 1 BR suite offers an attractively renovated kitchen and bathroom, along with updated flooring, lighting and window coverings. The Mt Pleasant West location is perfect: a pretty tree-lined street yet only a few blocks to Canada Line, restaurants, parks, shopping (Whole Foods, Save-On, No Frills, Home Depot, small retailers) and is really convenient to downtown, airport, and everything else. All in a well managed, pro-active building with lots of capital upgrades: pipes, boiler, entry, south parkade membrane, enterphone and landscaping. One parking, locker, and bike storage. Sorry, no pets or rentals. Open Saturday 30th and Sunday 1st, 2 to 4. Come see!
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I have sold a property at 2315 YORK AVE in Vancouver.
Truly a rare offering! This huge one bedroom townhouse-style suite offers many features that make it an exceptional home: large fully-fenced garden patio, 961 square feet of interior space, serene park-like outlook, SW exposure, separate entry, 10' ceilings, french doors and an abundance of windows to list a few. Immaculately maintained and tastefully updated by the original owner including fully renovated kitchen, newer windows, updated flooring and bathroom. The floor plan offers lots of options for lifestyle and furniture, and the patio is perfect for entertaining. This wonderful home is part of 'Vinegrove' at 1535 Vine, a really well maintained boutique building in a great Kits location - 1 block to the beach and a quick walk to West 4th shops and restaurants.
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Please visit our Open House at 2315 YORK AVE in Vancouver.
Open House on Sunday, September 17, 2017 2:00PM - 4:00PM
Truly a rare offering! This huge one bedroom townhouse-style suite offers many features that make it an exceptional home: large fully-fenced garden patio, 961 square feet of interior space, serene park-like outlook, SW exposure, separate entry, 10' ceilings, french doors and an abundance of windows to list a few. Immaculately maintained and tastefully updated by the original owner including fully renovated kitchen, newer windows, updated flooring and bathroom. The floor plan offers lots of options for lifestyle and furniture, and the patio is perfect for entertaining. This wonderful home is part of 'Vinegrove' at 1535 Vine, a really well maintained boutique building in a great Kits location - 1 block to the beach and a quick walk to the great shops and cafes on West 4th.
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Please visit our Open House at 2315 YORK AVE in Vancouver.
Open House on Tuesday, September 12, 2017 10:30AM - 12:00PM
Truly a rare offering! This huge one bedroom townhouse-style suite offers many features that make it an exceptional home: large fully-fenced garden patio, 961 square feet of interior space, serene park-like outlook, SW exposure, separate entry, 10' ceilings, french doors and an abundance of windows to list a few. Immaculately maintained and tastefully updated by the original owner including fully renovated kitchen, newer windows, updated flooring and bathroom. The floor plan offers lots of options for lifestyle and furniture, and the patio is perfect for entertaining. This wonderful home is part of 'Vinegrove' at 1535 Vine, a really well maintained boutique building in a great Kits location - 1 block to the beach and a quick walk to the great shops and cafes on West 4th.
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