Vancouver Real Estate Archives - Page 12 of 18

09Mar

Home sales drop by a third in Vancouver — where the average price is still over a million

[Financial Post - March 4, 2019] VANCOUVER — The local real estate board says the benchmark price of a detached home in Metro Vancouver fell nearly 10 per cent year over year as more sellers listed properties, but house hunters continued to take their time in February. The Real Estate Board of Greater Vancouver says nearly 28 per cent fewer detached properties sold last month compared with February 2018, and the benchmark price dropped 9.7 per cent to $1,443,100. Across all residential [...]

Vancouver Real Estate

09Mar

Availability of newly built and presale condos skyrockets in Metro Vancouver

For those looking to buy a new-build condo in Metro Vancouver, there’s good news – the number of available units has skyrocketed, according to a report released March 7. [Western Investor - March 7, 2019] In its quarterly State of the Market report for the Urban Development Institute, real estate research firm Urban Analytics said that the number of concrete condos that were either released for presale or completed and unsold, at the end of 2018’s fourth quarter, was quadruple that [...]

Vancouver Real Estate

10Feb

These were the 3 biggest Vancouver real estate trends of 2018

[Daily Hive - January 24, 2019] If nothing else, 2018 was an interesting year for Vancouver real estate. While the three preceding years had seen the real estate market in Vancouver increase in competitiveness, March of 2018 brought an abrupt and sudden change in both demand and supply. 2018 also saw both increases to the foreign buyers’ tax and the introduction of the empty home tax — placing additional pressure on demand. We talked to real estate expert Shawn Brown of West Haven Group to [...]

Vancouver Real Estate

07Feb

Metro Vancouver home prices to bottom in 2019 and then bounce back: forecast

[BIV - January 21, 2019] Home prices in Metro Vancouver may slide further in 2019 but then will recover as demand continues and supply remains constrained, according to a panel of developers at a 2019 forecast event. Speaking at the Urban Development Institute’s annual Forecast Luncheon on January 17, Neil Chrystal, president and CEO of Polygon Homes, said, “This year, the single-family home market will remain slow, and experience further price corrections…. In order for prices in the multi-family market to stabilize, [...]

Economic Outlook, Vancouver Real Estate

01Sep

B.C. Realtors still not allowed to openly publish home sale prices

Photo: John Barbisan, president of the Fraser Valley Real Estate Board: home sellers have a right to privacy. [Source: Vancouver Courier - August 30, 2018] Toronto real estate agents ordered to release data to general public, while it remains restricted to real estate professionals in B.C. Last week, for the first time in Canada, the general public could see exactly what any home sold for through the Toronto Real Estate Board (TREB), but that information is not permitted to be published by [...]

British Columbia, Canada, Toronto, Ontario, Vancouver Real Estate

01Sep

Baby boomers are back in the housing market – and it will impact prices: Royal LePage

[Source: Global News - August 8th, 2018] More than 1.4 million Canadians between the ages of 54 and 72 expect to buy a house in the next five years, according to a new survey by real estate powerhouse Royal LePage. Boomers will be either downsizing to smaller properties in their hometowns or looking for greener — and cheaper — pastures away from big cities, the research shows. Either way, this is “expected to have a meaningful impact on the housing market,” the [...]

Canada, Vancouver Real Estate

04Jun

Vancouver Real Estate: Single-Family Homes On Verge Of Price Correction, Realty Board Warns

The city is seeing a surge in supply [Source: HuffPost - June 4, 2018] VANCOUVER — Home sales across Metro Vancouver tumbled last month, when compared with May 2017, and the Real Estate Board of Greater Vancouver says that raises the potential of lower prices for some types of homes. The board says 2,833 properties sold in its region in May, a 35.1 per cent plunge from sales recorded in the same time last year, although May's sales were up nearly 10 [...]

British Columbia, Vancouver Real Estate

02Jun

Five reasons to stage your home before buyers visit

[Source: Myedmondsnews -May 23, 2018] Sellers seem to have mixed reactions when they hear the word “staging.” Some go all-in, while others are somewhat resistant to the idea. The more reluctant homeowners ask questions like: Why would anyone bother staging a home before selling it? It sounds like a lot of extra work for me. What do I get out of it? There’s a simple answer to these questions. By staging your home effectively, you have a better chance of selling [...]

Home Design + Decor, Vancouver Real Estate

02Jun

These are the trends to look for in Vancouver’s housing market this summer

[Source: BuzzBuzzNews - May 23, 2018] As the weather warms up, industry experts agree that home sales and prices will continue cooling in Metro Vancouver as the market adjusts to stricter mortgage regulations and new BC housing policies. “It’s a lot for the market to adjust to and it could take a little bit longer for the market to adjust to those measures,” RBC Senior Economist Robert Hogue tells BuzzBuzzNews. Since February, year-over-year home sales have been declining in Metro Vancouver. In [...]

British Columbia, Economic Outlook, Vancouver Real Estate

31May

Why Variable Rate drops are creating a surge in activity

Why Variable Rate drops are creating a surge in activity This Spring we’re seeing lenders getting aggressive with their pricing for variable rate mortgages: a sign that lenders are fighting for market share, making it a great time to be shopping for a mortgage! First a reminder of the difference between fixed vs variable. Fixed rates are often well suited to first-time buyers or those who haven’t owned a home for long because they want to know with absolute certainty what [...]

British Columbia, Canada, Mortgage Education Centre, Vancouver Real Estate