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Blog & News: Vancouver Real Estate Market

 

 

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...

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Residential property sales in the region totalled 4,172 in February 2016, an increase of 36.3 per cent from the 3,061 sales recorded in February 2015 and an increase of 65.6 per cent compared to January 2016 when 2,519 homes sold.

 

Last month’s sales were 56.3 per cent above the 10-year sales average for the month and rank as the highest February sales total on record.

 

“We're in a competitive, fast-moving market cycle that favours home sellers,” Darcy McLeod, REBGV president...

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The British Columbia Real Estate Association (BCREA) reports that a total of 5,831 residential unit sales were recorded by the Multiple Listing Service® (MLS®) last month, up 33.2 per cent from January of last year. Total sales dollar volume was $4.39 billion in January, up 69.1 per cent compared to the previous year.

 

Supply vs. Demand

 

The average MLS® residential price in the province was up 26.9 per cent year-over-year, to $752,906.

"The BC housing market continues to build on momentum from...

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A combination of high house prices and a drop in listings hasn't quelled the dream of homeownership and the Tri-Cities is seeing an unusually busy winter real estate market.

 

Tri-City real estate market shows no signs of cooling

 

"It's a supply and demand issue. It's not being driven on the local level in the Tri-Cities by foreign investments or that kind of thing. It's primarily local buyers and sellers and a lot of people that already live in the Tri-Cities," said Darcy McLeod, president of the Real Estate Board of Greater Vancouver.

 ...

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

 

Greater Vancouver Housing Price Index

 

Residential property sales in Greater Vancouver totalled 2,519 in January 2016, an increase of 31.7 per cent from the 1,913 sales recorded in January 2015 and a 10.9 per cent decline compared to December 2015 when 2,827 home sales occurred.

 

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

 

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