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VANCOUVER, BC – March 2, 2017 – Reluctance amongst Metro Vancouver* home sellers is impacting sale and price activity throughout the region’s housing market.

Residential home sales in the region totalled 2,425 in February 2017. This is a 41.9 percent decrease from the record 4,172 homes sold in February 2016 and an increase of 59.2 percent compared to January 2017 when 1,523 homes sold.

Last month’s sales were 7.7 percent below the 10-year February sales average.

“February home sales were well below the record-breaking activity from one year ago and in line with our long-term historical average for the month,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “Limited supply and snowy weather were two factors hampering this activity.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,666 in February 2017. This represents a 36.9 percent decrease compared to the 5,812 units listed in February 2016 and an 11.4 percent decrease compared to January 2017 when 4,140 properties were listed.

This is the lowest number of new listings registered in February since 2003.

The total number of properties currently listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver is 7,594, a four per cent increase compared to February 2016 (7,299) and a 4.9 percent increase compared to January 2017 (7,238).

The region’s sales-to-active listings ratio for February 2017 is 31.9 percent, a 10-point increase from January. 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.

“While home sales are not happening at the pace we experienced last year, home seller supply isstill 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,” Morrison said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $906,700. This represents a 2.8 percent decrease over the past six months and a 1.2 percent increase compared to January 2017.

Sales of detached properties in February 2017 reached 745, a decrease of 58.1 percent from the 1,778 detached sales recorded in February 2016. The benchmark price for detached properties is $1,474,200. This represents a 6.5 percent decrease over the past six months and is unchanged compared to January 2017.

Sales of apartment properties reached 1,275 in February 2017, a decrease of 28.8 percent compared to the 1,790 sales in February 2016.The benchmark price of an apartment property is $526,300. This represents a 2.3 percent increase over the past six months and a 2.7 percent increase compared to January 2017.

Attached property sales in February 2017 totalled 404, a decrease of 33.1 percent compared to the 604 sales in February 2016. The benchmark price of an attached unit is $675,500. This represents a 0.3 percent decrease over the past six months and a 1.3 percent increase compared to January 2017.

 

 

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One month after introduction of the infamous 'foreign buyer tax' we're seeing a market that appears to be returning to stability after some frenetic-paced years (ok, let's just say it: CRAZY). As expected, Vancouver real estate sales were down in August compared to August 2015 in all categories: detached, townhouses, and apartments (condos). The number of detached sales were down 45%, townhomes -25% and condos -10%. Prices are still rising though, although at a slower pace, both year over year AND over the past 3 months. Vancouver detached prices are up 36% year over year and 4% over the past 3 months. Vancouver townhomes are +31% and +7% respectively, while condos prices are up +27% for the year and +6% over 3 months.

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Escape the heat and come visit our Open House at 2360 Waterloo on Saturday August 20th 2 to 4. This gorgeous Kits 1/2 duplex offers a completely renovated interior and exceptional outdoor space - and it's really private! See you tomorrow!

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August 3, 2016 – Metro Vancouver* homes sales resembled more typical levels in July.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,226 in July 2016, a decrease of 18.9 percent from the 3,978 sales recorded in July 2015 and a decrease of 26.7 percent compared to June 2016 when 4,400 homes sold.

This is the first time since January that home sales in the region have registered below 4,000 in a month.

“After several months of record-breaking sales activity, home buyer demand returned to more historically normal levels in July,” Dan Morrison, REBGV president said.

Last month’s sales were 6.5 percent above the 10-year sales average for the month.

“Home sale activity showed some moderating signs in late June and this carried into July,” Morrison said. “We’ll wait and watch over the next few months to see if this marks the return of more normal market trends,”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,241 in July 2016. This represents a 2.5 percent increase compared to the 5,112 units listed in July 2015 and a 10.8 percent decrease compared to June 2016 when 5,875 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 8,351, a 27.4 percent decline compared to July 2015 (11,505) and a 6.9 percent increase compared to June 2016 (7,812).

The sales-to-active listings ratio for July 2016 is 38.6 percent. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark, while home prices experience upward pressure when it reaches the 20 to 22 percent range in a particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $930,400. This represents a 32.6 percent increase compared to July 2015.

Sales of detached properties in July 2016 reached 1,077, a decrease of 30.9 percent from the 1,559 detached sales recorded in July 2015. The benchmark price for detached properties increased 38 percent from July 2015 to $1,578,300.

Sales of apartment properties reached 1,602 in July 2016, a decrease of 7.3 percent compared to the 1,729 sales in July 2015.The benchmark price of an apartment property increased 27.4 percent from July 2015 to $510,600.

Attached property sales in July 2016 totalled 547, a decrease of 20.7 percent compared to the 690 sales in July 2015. The benchmark price of an attached unit increased 29.4 percent from July 2015 to $669,000.

 

 

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VANCOUVER, BC – July 5, 2016 – Home buyers continue to compete for homes listed for sale across the Metro Vancouver housing market.

Residential property sales in the region totalled 4,400 in June 2016, an increase of 0.6 percent from the 4,375 sales recorded in June 2015 and a decrease of 7.7 percent compared to May 2016 when 4,769 homes sold.

Last month’s sales were 28.1 per cent above the 10-year sales average for the month and rank as the highest selling June on record.

"While we're starting to see more properties coming onto the market in recent months, the imbalance between supply and demand continues to influence market conditions," Dan Morrison REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,875 in June 2016. This represents an increase of 1.2 percent compared to the 5,803 units listed in June 2015 and a 6.6 percent decrease compared to May 2016 when 6,289 properties were listed.

“Since March, we’ve seen more homes listed for sale in our market than in any other four-month period this decade,” Morrison said.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,812, a 35.9 percent decline compared to June 2015 (12,181) and a 1.1 percent increase compared to May 2016 (7,726).

The sales-to-active listings ratio for June 2016 is 56.3 percent. While clearly indicative of a seller’s market, this is the lowest this measure has been since February.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark, while home prices often experience upward pressure when it reaches the 20 to 22 percent range in a particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $917,800. This represents a 32.1 percent increase compared to June 2015.

Sales of detached properties in June 2016 reached 1,562, a decrease of 18.6 percent from the 1,920 detached sales recorded in June 2015. The benchmark price for detached properties increased 38.7 percent from June 2015 to $1,561,500.

Sales of apartment properties reached 2,108 in June 2016, an increase of 18.8 percent compared to the 1,774 sales in June 2015.The benchmark price of an apartment property increased 25.3 percent from June 2015 to $501,100.

Attached property sales in June 2016 totalled 730, an increase of 7.2 percent compared to the 681 sales in June 2015. The benchmark price of an attached unit increased 28.1 percent from June 2015 to $656,900.

 

 

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The latest Vancouver real estate stats for East Van condos, townhouses, and houses here. Get the details on each type of property in various East Vancouver neighbourhoods such as Mt. Pleasant condos or Main Street detached:

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Exercise your talent as a renovator with this spacious Mt. Pleasant condo for sale at 440 E. 5th! Great bones, sunny outlook, super quiet. See you at the Opens: Sat 28th 2 - 3 and Sun 29th 2 - 4. UPDATED May 28th: please note OPENS CANCELLED.

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Curious about what's happening in your Vancouver west neighbourhood? Maybe you want Kitsilano townhouse price change or the average selling price per square foot west side condo:  Click here for more information

 

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What's happening in your Vancouver east neighbourhood? Maybe you want the Mt. Pleasant townhouse price change or the average selling price per square foot east side condo:  Click here for more information

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VANCOUVER, BC – Last month was the highest selling April on record for Metro Vancouver* and were 41.7% above the 10-year sales average for the month. And we've seen some pretty good April's over the past 10 years!

Residential property sales totalled 4,781 in April 2016, up 14.4% from the 4,179 sales recorded in April 2015 and down 7.6% compared to March 2016 when 5,173 homes sold.

“Home buyer competition remains intense across the region,” Dan Morrison, REBGV president said. “Whether you’re a home buyer or seller, it’s important to work with your local REALTOR® to get the information you need and to develop a strategy that will help you navigate today’s market.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,127 in April 2016. This represents an increase of 3.9 percent compared to the 5,897 units listed in April 2015 and a 2.4 percent decline compared to March 2016 when 6,278 properties were listed.

"While we’re seeing more homes listed for sale in recent months, supply is still chasing this unprecedented surge of demand in our marketplace," Morrison said.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,550, a 39.3 percent decline compared to April 2015 (12,436) and a 2.6 percent increase compared to March 2016 (7,358).

The sales-to-active listings ratio for April 2016 is 63.3 percent. This is indicative of a seller’s market.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark, while home prices often experience upward pressure when it reaches the 20 to 22 percent range in a particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $844,800. This represents a 25.3 percent increase compared to April 2015.

Sales of detached properties in April 2016 reached 1,979, an increase of 9 percent from the 1,815 detached sales recorded in April 2015. The benchmark price for detached properties increased 30.1 percent from April 2015 to $1,403,200.

Sales of apartment properties reached 2,107 in April 2016, an increase of 33.4 percent compared to the 1,579 sales in April 2015.The benchmark price of an apartment property increased 20.6 percent from April 2015 to $475,000.

Attached property sales in April 2016 totalled 695, a decrease of 11.5 percent compared to the 785 sales in April 2015. The benchmark price of an attached unit increased 22.1 percent from April 2015 to $608,600.

 

 

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Here's the same chart, only here I include just detached Vancouver real estate...again segmented by the various Vancouver real estate markets:

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This chart shows the annual variances for attached properties in the various of the Vancouver real estate market. It includes Vancouver condos, townhomes, and Vancouver 1/2 duplexes. The price change ranges from minus 49% in North Delta to a high of +30% for downtown Vancouver attached properties and +34% in Tsawwassen.

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Home buyer activity remains at near record levels across the Metro Vancouver real estate market.

Residential property sales in Greater Vancouver totalled 2,519 in January 2016, an increase of 31.7% from sales recorded in January 2015 and a 10.9% decline compared to December 2015 when 2,827 home sales occurred.

Last month’s sales were 46% above the 10-year sales average for the month and rank as the second highest January on record.

“Fundamental economics are driving today’s market. Home buyer demand is at near record heights and home seller supply is as low as we’ve seen in many years,” Darcy McLeod, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,442 in January 2016 - down 6.2% decline compared to January 2015 and a 120% percent increase compared to December 2015. 

“The MLS® is the most powerful real estate marketing system in the country. If you’re thinking of selling, it’s important to talk with your REALTOR® about putting your home on the MLS® system to ensure your property gets maximum exposure,” McLeod said.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,635, a 38.6% decline compared to January 2015 (10,811) and a 10% increase compared to December 2015.

The sales-to-active listings ratio for January 2016 is 38%. This is indicative of a seller’s market. Generally, downward pressure on home prices occurs when the ratio dips below the 12% mark, while home prices often experience upward pressure when it reaches the 20 to 22% range for a sustained period of time.

Sales of detached properties in January 2016 reached 1,047, an increase of 34% from detached sales recorded in January 2015. The benchmark price for detached properties increased 28% from January 2015 to $1,293,700.

Sales of apartment properties reached 1,096 in January 2016, an increase of 35.5% compared to January 2015.The benchmark price of an apartment property increased 19.4% from January 2015 to $456,600.

Attached property sales in January 2016 totalled 376, an increase of 16.4% compared to January 2015. The benchmark price of an attached unit increased 16.4% from January 2015 to $563,700.

 

 

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A great way to determine and compare value is selling price per square foot (psf). Mt. Pleasant resale condos are selling at $580psf and Mount Pleasant townhomes selling at $628psf. Here's a graph showing price details of Mt. Pleasant condos and townhouses and the price trends over the past ten years (in a nutshell: up!).

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VANCOUVER, B.C. – January 5, 2016 – In a year when the number of homes listed for sale was below historical averages, actual home sales in Metro Vancouver set a new record.

The Real Estate Board of Greater Vancouver (REBGV) reports that 2015 home sales were the highest annual total in REBGV history. This was powered early in the year by four straight months with more than 4,000 sales a month from March to June, another first for REBGV.

Sales of detached, attached and apartment properties in 2015 reached 42,326, a 27.8 percent increase from the 33,116 sales recorded in 2014, and a 48.4 percent increase over the 28,524 residential sales in 2013.

The total number of homes listed for sale on the MLS® in 2015 ranked fifth in the last ten years, while the MLS® Home Price Index (HPI) saw double-digit year-over-year price increases.

The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in 2015 reached 57,249. This is an increase of 2.1 percent compared to the 56,066 properties listed in 2014 and an increase of 4.6 percent compared to the 54,742 properties listed in 2013.

With sales-to-active-listings ratios above 25 percent for 11 months in 2015, the Metro Vancouver market experienced seller’s market conditions for much of the year.

"Home buyers were active and motivated throughout 2015 despite the pressure on supply of homes on the market," Darcy McLeod, REBGV president said. "Housing markets typically experience quieter periods within a calendar year, but that wasn't the case in Metro Vancouver last year."

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $760,900. This represents an 18.9 percent increase compared to December 2014.

“We often hear economists say that seller’s market conditions put upward pressure on home prices,” McLeod said. “That was certainly the case in 2015, with price increases ranging from 14 to 24 percent depending on property type.”

December summary

Residential property sales in Greater Vancouver totalled 2,827 in December 2015, an increase of 33.6 percent from the 2,116 sales recorded in December 2014 and a 19.8 percent decline compared to November 2015 when 3,524 home sales occurred.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,021 in December 2015. This represents a 7 percent increase compared to the 1,888 units listed in December 2014 and a 40.4 percent decline compared to November 2015 when 3,392 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,024, a 41.6 percent decline compared to December 2014 and a 25.6 percent decrease compared to November 2015.

Sales of detached properties in December 2015 reached 1,136, an increase of 36.4 percent from the 833 detached sales recorded in December 2014. The benchmark price for detached properties increased 24.3 percent from December 2014 to $1,248,600.

Sales of apartment properties reached 1,225 in December 2015, an increase of 34.3 percent compared to the 912 sales in December 2014.The benchmark price of an apartment property increased 14 percent from December 2014 to $436,200.

Attached property sales in December 2015 totalled 466, an increase of 25.6 percent compared to the 371 sales in December 2014. The benchmark price of an attached unit increased 13.6 percent from December 2014 to $543,700.

 

 

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If you're watching the Vancouver real estate market you know there's huge demand for most types of real estate in Vancouver. Kitsilano condos, townhomes and 1/2 duplexes come to mind, along with Mt. Pleasant condos and Vancouver single family homes. One segment of the market that's been REALLY underserved for awhile now is 2 bed condos in Mount Pleasant! Please drop me a line if you're planning to sell your Mt. Pleasant condo. 

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VANCOUVER, B.C. – December 2, 2015 – Home sales reached near record levels in November even as home listings began the traditional year-end decline.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,524 on the Multiple Listing Service® (MLS®) in November 2015. This represents a 40.1 percent increase compared to the 2,516 sales recorded in November 2014, and a 3.3 percent decrease compared to the 3,646 sales in October 2015.

Last month’s sales were 46.2 percent above the 10-year sales average for the month and rank as the second highest November on record for residential property sales.

“November is typically one of the quietest months of the year in our housing market, but not this year,” Darcy McLeod, REBGV president said. “The ratio of sales to home’s available for sale reached 44 percent in November, which is the highest it’s been in our market in nine years.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,392 in November. This represents a 12.5 percent increase compared to the 3,016 new listings reported in November 2014.

The total number of properties listed for sale on the real estate board’s MLS® is 8,096, a 35 percent decline compared to November 2014 and a 15.4 percent decline compared to October 2015.

“Demand remains strong and there are housing options at different price points throughout the region,” McLeod said. “It’s important to work with your REALTOR® to understand your options before you embark on your home buying journey.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $752,500. This represents a 17.8 percent increase compared to November 2014.

The sales-to-active-listings ratio in November was 43.5 percent. Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12 percent mark, while home prices often experience upward pressure when it reaches 20 percent, or higher, in a particular community for a sustained period of time.

Sales of detached properties in November 2015 reached 1,335, an increase of 31.9 percent from the 1,012 detached sales recorded in November 2014, and a 44.2 percent increase from the 926 units sold in November 2013. The benchmark price for a detached property in Metro Vancouver increased 22.6 percent from November 2014 to $1,226,300.

Sales of apartment properties reached 1,553 in November 2015, an increase of 47.6 percent compared to the 1,052 sales in November 2014, and an increase of 60.3 percent compared to the 969 sales in November 2013. The benchmark price of an apartment property increased 14 percent from November 2014 to $435,000.

Attached property sales in November 2015 totalled 636, an increase of 40.7 percent compared to the 452 sales in November 2014, and a 49.3 percent increase from the 426 attached properties sold in November 2013. The benchmark price of an attached unit increased 11.3 percent between November 2014 and 2015 to $536,600.

 

 

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