News: Vancouver Real Estate Market
Posted on
April 13, 2024
by
David Reimers
Typically, spring marks the peak activity season for Canada's real estate sector, as warmer weather prompts a surge in buying and selling nationwide. However, in 2024, this bustling spring market began earlier than usual and is experiencing added pressure. Aspiring homebuyers, who had been waiting on the sidelines, are now reentering the market ahead of anticipated interest rate cuts. This rush is expected to intensify competition and drive home prices even higher. Royal LePage® projects that the overall...
Posted on
July 6, 2021
by
David Reimers
While still elevated, home sale and listing activity in Metro Vancouver has eased back from the record-setting pace seen in March and April of this year.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,762 in June 2021, a 54% increase from the 2,443 sales recorded in June 2020, and an 11.9% decrease from the 4,268 homes sold in May 2021.
Last month's sales were 18.4% above the 10-year June sales average.
"Metro Vancouver's housing market...
Posted on
January 28, 2021
by
David Reimers
Fourth quarter regional highlights:
- Price of detached homes continue to outpace condominiums as Canadians trade location for square footage
- Despite strong push toward the suburbs, Toronto and Montreal single-family homes see double-digit price gains in city centres
- Median price of a two-storey home in Greater Vancouver rises 8.8% as buyers prioritize square footage
- Out-of-region buyers spur Maritimes’ home prices, as option of remote work and demand for large, affordable properties grows
- Aggregate...
Posted on
February 4, 2020
by
David Reimers
Posted in
bc home sales, Coquitlam MLS home prices, Greater Vancouver, Greater Vancouver Home Sales, Market Data, Metro Vancouver, Multiple Listing Service, Real Estate Board of Greater Vancouver, Real Estate Market Analysis, Real Estate Statistics, REBGV, Vancouver Home Sales
According to the Real Estate Board of Greater Vancouver (REBGV), the residential home sales in the region hit 1,571 in January 2020. This is a 42.4% increase from the January 2019 sales of 1,103 and a 22.1% decrease from the December 2019 sales of 2,016.
The sales were at 7.3%, which was below the 10-year January sales average.
"We’ve begun 2020 with steady home buyer demand that tracks close to the region’s long-term average," Ashley Smith, REBGV president said. "Looking at supply, we...
Posted on
January 16, 2020
by
David Reimers
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...
Posted on
December 12, 2019
by
David Reimers
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...
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