Blog & News: Vancouver Real Estate Market
June 13, 2017
Housing Supply Not Keeping Pace with Demand in Most BC Regions
Vancouver, BC–June 13, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 12,402 residential unit sales were recorded by the Multiple Listing Service® (MLS® ) in May, down 7.9 per cent from the same period last year. Total sales dollar volume was $9.33 billion, down 4.0 per cent from May 2017. The average MLS® residential price in the province was $752,536, a 4.2 per cent increase from the same period last year.
June 2, 2017
Home buyer activity returned to near record levels across the Metro Vancouver* housing market in May
June 2, 2017 - Residential property sales in the region totalled 4,364 in May 2017, a decrease of 8.5 per cent from the 4,769 sales in May 2016, an all-time record, and an increase of 22.8 per cent compared to April 2017 when 3,553 homes sold.
Last month's sales were 23.7 per cent above the 10-year May sales average and is the thirdhighest selling May on record.
"Demand for condominiums and townhomes is driving today's activity," Jill Oudil, Real Estate Board of Greater...
May 2, 2017
Condominiums and townhomes in high demand across Metro Vancouver
VANCOUVER, BC - May 2, 2017 - Demand for condominiums and townhomes continues to drive the Metro Vancouver* housing market.
Residential property sales in the region totalled 3,553 in April 2017, a 25.7 per cent decline compared to April 2016 when 4,781 homes sold and a 0.7 per cent decrease from the 3,579 sales recorded in March 2017.
April sales were 4.8 per cent above the 10-year average for the month.
For the first four months of the year, condominium and townhome sales have comprised...
February 2, 2017
Metro Vancouver housing market off to a quieter start than last year
VANCOUVER, BC – February 2, 2017 – Home sales and listings trends are below long-term averages in the Metro Vancouver* housing market. This is due largely to reduced activity in the detached home market.
Residential property sales in the region totalled 1,523 in January 2017, a 39.5 per cent decrease from the 2,519 sales recorded in January 2016 and an 11.1 per cent decrease compared to December 2016 when 1,714 homes sold.
Last month’s sales were 10.3 per cent below...
December 5, 2016
Home sales and listings just below 10-year average
VANCOUVER, BC – December 2, 2016 – Home buyer and seller activity remains near historical averages in the Metro Vancouver* housing market.
Residential home sales in the region totalled 2,214 in November 2016, a decrease of 0.9 per cent from the 2,233 sales recorded in October 2016 and a decrease of 37.2 per cent compared to November 2015 when 3,524 homes sold.
Last month’s sales were 7.6 per cent below the 10-year sales average for the month.
November 29, 2016
BC Home Sales to Decline in 2017 from Record Pace: BCREA 2016 Fourth Quarter Housing Forecast
Vancouver, BC – November 29, 2016. The British Columbia Real Estate Association (BCREA) released its 2016 Fourth Quarter Housing Forecast today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to climb 11 per cent to a record 113,800 units this year, eclipsing the previous record of 106,310 units in 2005. Less robust economic conditions combined with government policy constraints are expected to slow housing demand by more than 15 per cent...
November 3, 2016
Home sale and listing activity dip below historical averages in October
VANCOUVER, BC – November 2, 2016 – Reduced home sale and listing activity are changing market dynamics in communities across Metro Vancouver*.
Residential property sales in the region totalled 2,233 in October 2016, a 38.8 per cent decrease from the 3,646 sales recorded in October 2015 and a 0.9 per cent decrease compared to September 2016 when 2,253 homes sold.
Last month’s sales were 15 per cent below the 10-year October sales average.
August 5, 2016
Home sales move off of record - breaking pace in July
VANCOUVER, BC – 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 per cent from the 3,978 sales recorded in July 2015 and a decrease of 26.7 per cent 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...
June 2, 2016
Demand remains elevated across the Metro Vancouver housing market
VANCOUVER, BC – June 2, 2016 – Metro Vancouver homes continue to sell at an unprecedented rate in communities across the region.
Residential property sales on the region's Multiple Listing Service® (MLS®) totalled 4,769 in May 2016, an increase of 17.6 per cent from the 4,056 sales recorded in May 2015 and a decrease of 0.3 per cent compared to April 2016 when 4,781 homes sold.
Last month's sales were 35.3 per cent above the 10-year sales average for...
May 17, 2016
One in Four Real Estate Advisors Believe that 25 Per Cent or More of Luxury Properties Are Purchased by Foreign Buyers
TORONTO, May 12, 2016 – Canada’s luxury residential real estate market has seen a notable increase in foreign buyer activity over the last ten years, according to a survey of real estate advisors released today in the Royal LePage Carriage Trade Luxury Properties Report.
When asked about activity over the last decade, 66 per cent of real estate advisors believe foreign buyer activity increased in their region since 2005. Almost a quarter (24 per cent) of advisors...