After 2 years of strong price appreciation, Canadian home prices are expected to increase significantly in 2022, albeit at a slower pace than in previous years. According to the Royal LePage Market Survey Forecast, the aggregate price of a home in Canada is set to rise 10.5% year-over-year to $859,700 in the fourth quarter of 2022, with the median price of a single-family detached property projected to increase 11.0% to $918,000, and the median price of a condominium expected to increase 8.0% to $594,000....
News: Vancouver Real Estate Market
Posted in: 2022 , canadian home prices , Economic Forecast , forecast , real estate market , royal lepage
Posted in: coquitlam real estate , greater vancouver , real estate market , real estate market update , real estate statistics , vancouver real estate
While home buyers remained active in Metro Vancouver throughout the summer, the supply of homes for sale declined steadily since June.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,152 in August 2021, a 3.4% year over year increase and a 5.2% decrease from the 3,326 homes sold in July 2021.
Last month's sales were 20.4% above the 10-year August average.
"August was busier than expected, and listings activity isn't keeping up with...
Posted in: BC Home Sales , BCREA , British Columbia Real Estate Association , Covid-19 Housing Market Update , COVID-19 impact on home prices , Greater Vancouver , Home Buyers , Home Owners , Home Prices , Metro Vancouver , MLS , MLS Home Sales , MLS listings , Multiple Listing Service , Real Estate Market , Residential Homes , The New Normal
According to the British Columbia Real Estate Association (BCREA), there was a total of 3,284 residential units recorded by the Multiple Listing Service® (MLS®) in April 2020. This is a decline of 50.8% from April 2019.
The average MLS® residential price in BC was $737,834, a 7.8% increase from $684,430 recorded the previous year. Total sales dollar volume in March was $2.4 billion, a 46.9% decrease over 2019.
"We expected to see a sharp drop in sales for April as we confronted the COVID-19...
Posted in: BCREA , Greater Vancouver , Home Buyers , Homes For Sale , Market Analysis , Metro Vancouver , MLS listings , Multiple Listing Service , Real Estate Market , Real Estate Statistics , Real Estate Stats , Residential Homes , Residential Units , Vancouver Home Sales
In January 2020, a total of 4,426 residential units were recorded by the Multiple Listing Service® (MLS®), as reposted by the British Columbia Real Estate Association (BCREA). This was an increase of 23.7% when compared to 3,579 units sold in January 2019.
The total sales dollar volume was $3.2 billion in January, which is a 35% increase over 2019. The average MLS® residential price in BC was $725,370, a 9.1% increase from $664,633 recorded the previous year.
"Housing markets in BC are...
Posted in: BC Home Sales , Greater Vancouver , Greater Vancouver Home Sales , Home Owners , Market Prices , Market Statistics , Metro Vancouver , Real Estate Market , Royal LePage Market Forecast
What does it mean for B.C.?
The Greater Vancouver market saw signs of heading towards recovery in the fourth quarter, after a year-over-year decline. There was a 4.8% decrease in the aggregate price of a home in Greater Vancouver year-over-year to hit $1,107,719 in the fourth quarter of 2019. The aggregate price of a home in the third quarter of 2019, had decreased 5.2% compared to the same time last year.
Greater Vancouver's real estate market was fairly balanced in the fourth quarter according to...
Price growth in condo and detached market said to appreciate the Canadian real estate market by 3.2% in 2020
Posted in: BC Home Sales , Coquitlam Home Sales , Greater Vancouver , Greater Vancouver Home Sales , Home Owners , Market Prices , Market Statistics , Metro Vancouver , Real Estate Market , Reimers Group , Royal LePage Market Forecast , Tri-Cities Real Estate Market
What does this mean for us?
Greater Vancouver house prices will see a stabilization in 2020. The aggregate prices for homes is forecasted to hit $1,125,200, an increase if 1.5% in 2020. For two-storey homes the prices are expected to rise to $1,460,700, a rise of 1.25% year-over-year. Median prices for condominiums is also said to rise to $666,900, a 3.0% increase by the end of next year.
According to Randy Ryalls, Managing Broker, Royal LePage Sterling Realty, "Sales have picked up significantly...
Posted in: David Reimers , Greater Vancouver , Greater Vancouver Real Estate Board , MLS listings , Real Estate Market , Real Estate Market , real estate statistics , Sale Prices , Statistics , Vancouver Home Sales
The Vancouver real estate market saw an increase in demand, pushing July (a typically quieter time of the year) to the second highest selling month so far in 2019.
There has been a substantive increase in residential home sales in the region as per The Real Estate Board of Greater Vancouver (REBGV). The market saw a 23.5 %, increase compared to the 2,070 sales record in July 2018, and a 23.1 % increase compared to the 2,077 homes sold in June 2019.
The sales for last month capped at 7.8%, which was...
Posted in: BCREA , British Columbia Real Estate Board , House Demand , Metro Vancouver Real Estate , Mortgage Rules , Real Estate Market , Real Estate Update
Vancouver, BC – March 14, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 6,206 residential unit sales were recorded by the Multiple Listing Service® (MLS® ) across the province in February, a 5.7 per cent decrease from the same period last year. The average MLS® residential price in BC was $748,327, up 8.8 per cent from the previous year. Total sales dollar volume was $4.64 billion, a 2.6 per cent increase from February 2017.
Government Needs Transitional Rules For All Transactions Impacted By Taxes Introduced In Budget 2018
Posted in: BCREA , British Columbia Real Estate Board , house market , house market , housing market , real estate market , real estate udates , taxes
New taxes unlikely to stabilize housing market
Victoria, BC – February 20, 2018. The British Columbia Real Estate Association calls on government to introduce transitional rules for all transactions impacted by the new tax measures introduced in Budget 2018. The new tax measures come into effect on February 21, 2018. The Property Transfer Tax (PTT) increase to 5% for properties over $3 million, as well as the increase to 20% and expansion of the Foreign Buyer's Tax to other parts of the...
Posted in: 2016 real estate market forecast , Greater Vancouver , housing , housing , Housing , real estate market
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...
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...
Posted in: 2016 first quarter update , housing demand , housing forecast , real estate market , vancouver real estate
The British Columbia Real Estate Association (BCREA) released 2016 First Quarter Housing Forecast Update today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to edge back 6.2 per cent to 96,100 units this year, after reaching 102,517 units in 2015. Strong consumer demand is expected to push MLS® residential sales up by 2 per cent to 98,000 units in 2017.
Posted in: 2016 real estate market forecast , home owner , house price survey , real estate market , real estate market forecast , royal lepage , sale prices , vancouver real estate
Canada’s residential real estate market showed strong growth in the fourth quarter of 2015, led by hot Vancouver and Toronto markets according to the Royal LePage House Price Survey and Market Survey Forecast released today. Looking forward to 2016, Royal LePage expects continued price increases in most markets, but not at the pace that has been the recent norm. Instead, the national real estate market is expected to slow later this year, principally due to the effects of a dampened economy...
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