News: Vancouver Real Estate Market
Posted on
October 15, 2024
by
David Reimers
Discover the latest trends shaping Canada’s housing market with our Q3 2024 House Price Survey. Here’s what you need to know.
Q3 2024 Key Highlights: National Trends: The aggregate home price rose a modest 1.6% year over year in Q3 2024, and decreased 1.1% over Q2. Regional Insights: While the greater Toronto and Vancouver markets showed little change, rising 0.7% and 0.5%, respectively, Greater Montreal’s aggregate home price increased 5.2% year over year. Quebec City Continue to Soar: For the second...
Posted on
October 3, 2024
by
David Reimers
Home sales registered on the MLS® in Metro Vancouver declined 3.8% year over year in September, suggesting recent reductions in borrowing costs are having a limited effect in spurring demand so far. Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,852 in September 2024, a 3.8% decrease from the 1,926 sales recorded in September 2023. This was 26% below the 10-year seasonal average (2,502). “Real estate watchers have been monitoring the data for signs of renewed...
Posted on
July 4, 2024
by
David Reimers
Metro Vancouver home sales registered on the MLS® remained below seasonal and historical averages in June. With reduced competition among buyers, inventory has continued to accumulate to levels not seen since the spring of 2019. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totaled 2,418 in June 2024, a decrease of 19.1% from the 2,988 sales recorded in June 2023. This was 23.6% below the 10-year seasonal average (3,166). “The June data continued a trend we’ve been...
Posted on
March 2, 2023
by
David Reimers
The latest data for February indicates that prospective home sellers in Metro Vancouver are still hesitant to participate in the housing market, resulting in below average sales activity and a subsequent increase in the number of available homes for sale. According to the Real Estate Board of Greater Vancouver (REBGV), there were only 1,808 residential home sales in February 2023, a decrease of 47.2% from the previous year. The sales activity was also 33% below the 10-year February sales average....
Posted on
October 4, 2022
by
David Reimers
Home sellers were more active in Metro Vancouver's housing market in September while home buyer demand remained below the region's long-term averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,687 in September 2022, a 46.4% decrease from the 3,149 sales recorded in September 2021, and a 9.8% decrease from the 1,870 homes sold in August 2022.
Last month's sales were 35.7% below the 10-year September sales average.
"With the Bank...
Posted on
July 11, 2022
by
David Reimers
With interest rates and housing supply increasing, Metro Vancouver* home buyers are operating in a changing marketplace to begin the summer season.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,444 in June 2022, a 35% decrease from the 3,762 sales recorded in June 2021, and a 16.2% decrease from the 2,918 homes sold in May 2022.
Last month’s sales were 23.3% below the 10-year June sales average.
"Home buyers have more selection...
Posted on
April 2, 2022
by
David Reimers
<p>While down from last year's record numbers, Metro Vancouver's home sale activity remained elevated in March. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region decreased 23.9% from the 5,708 sales recorded in March 2021 (4,344 in March 2022) and a 26.9% increase from the 3,424 homes sold in February 2022.
Last month's sales were 25.5% above the 10-year March sales average.
"March of 2021 was the highest selling month in our history. This year's...
Posted on
March 2, 2022
by
David Reimers
The Metro Vancouver housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,424 in February 2022, an 8.1% decrease from the 3,727 sales recorded in February 2021, and a 49.8% increase from the 2,285 homes sold in January 2022.
Last month’s sales were 26.9% above the 10-year February...
Posted on
March 1, 2022
by
David Reimers
The BC Real Estate Association (BCREA), with support of BC’s real estate boards, published a white paper on February 28, 2022 that contains 30 policy recommendations for the provincial government.
A Better Way Home: Strengthening Consumer Protection in Real Estate includes detailed solutions for enhancing consumer protections and increasing housing options in the province’s real estate market.
The white paper also offers an alternative approach to the province’s proposed cooling...
Posted on
November 4, 2021
by
David Reimers
Home sale activity in Metro Vancouver remained above historical averages in October while the overall supply of homes for sale dipped to levels not seen in three years.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,494 in Oct. 2021, a 5.2 % decrease from the 3,687 sales recorded in Oct. 2020, and an 11 % increase from the 3,149 homes sold in September 2021.
Last month’s sales were 22.4 % above the 10-year Oct. sales average....
Posted on
September 3, 2021
by
David Reimers
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 on
July 7, 2020
by
David Reimers
Posted in
Attached Homes, BC Home Sales, Bungalow, Condominium, Demand, Detached Homes, Greater Vancouver, Home Buyers, Home Owners, Impact of COVID-19 on housing, Metro Vancouver, Properties For Sale, Real Estate Forecast, Real Estate Forecast, Real Estate Sales, Real Estate Statistics, Royal LePage, Second Quarter Statistics, Supply, The New Normal, Vancouver Real Estate
Royal LePage revises Canadian home price forecast upwards to 2.3% by year-end 2020, as low rates and pent-up demand face limited housing supply.
What does this mean for Greater Vancouver?
In the second quarter, the aggregate price of a home in Greater Vancouver increased by 1.9% year-over-year to $1,109,069. Based on housing type, the median price of a standard two-storey home in Greater Vancouver increased by 3.7% year-over-year to $1,455,027 in the second quarter. During the same period, the median...
Posted on
January 6, 2020
by
David Reimers
Residential home sales in the region totalled 2016 in December 2019, an 88.1% increase from the 1,072 sales recorded in Dec 2018, and a 19.3% decrease from the 2,498 homes sold in November 2019.
Last month’s sales were 9.5% above the 10-year Dec sales average.
There were 1,588 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in Dec 2019. This represents a 12.9% increase compared to the 1,407 homes listed in Dec 2018 and a 46.8% decrease compared...
Posted on
July 8, 2019
by
David Reimers
With home buyer demand below long-term historical averages in June, the supply of homes for sale continued to grow in Metro Vancouver.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,077 in June 2019, a 14.4% decrease from the 2,425 sales recorded in June 2018. Last month's sales were 34.7% below the 10-year June sales average, the lowest total for the month since 2000.
"We're continuing to see an expectation gap between home buyers and...
Posted on
June 4, 2019
by
David Reimers
Posted in
Buying in BC, Coquitlam, Coquitlam Houses for Sale, coquitlam real estate agent, David Reimers, Housing starts, market statistics, Metro Vancouver, real estate, Real Estate Agent, Reimers Group, Selling your home, vancouver real estate, Vancouver Real Estate Market
Metro Vancouver home sales exceed 2,000 for the first time in 2019, while buyer demand remains below averages.
The Real Estate Board of Greater Vancouver (REBGV) reports residential sales in Metro Vancouver area totaled 2,638 in May 2019, a 44.2% increase from the 1,829 homes sold in April 2019.
"High home prices and mortgage qualification issues caused by the federal government’s B20 stress test remain significant factors behind the reduced demand that the market is experiencing today," Ashley...
Posted on
May 3, 2019
by
David Reimers
photo by Aditya Chinchure
Decreased demand continues to allow the supply of homes for sale to accumulate across the Metro Vancouver* housing market.
Last month’s sales were 43.1% below the 10-year April sales average.
"Government policy continues to hinder home sale activity. The federal government’s mortgage stress test has reduced buyers’ purchasing power by about 20%, which is causing people at the entry-level side of the market to struggle to secure financing," Ashley Smith,...
Posted on
April 2, 2019
by
David Reimers
Metro Vancouver home sales were at the lowest levels seen in March in more than 3 decades.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales totalled 1,727 in March 2019, a year over year decrease of 31.4%.
Last month’s sales were 46.3% below the 10-year March sales average, the lowest total for the month since 1986.
"Housing demand today isn’t aligning with our growing economy and low unemployment rates. The market trends we’re seeing are largely...
Posted on
January 29, 2016
by
David Reimers
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.
Housing demand in the province is being supported by a relatively robust economy,...
Posted on
January 13, 2016
by
David Reimers
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[1] and Market Survey Forecast[2] 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...
Posted on
August 24, 2015
by
Sam Cooper
Vancouver's booming real estate industry is being targeted in a federal money-laundering audit that could potentially lead to massive fines and jail time for realtors.
Ottawa's increased examination of Vancouver real estate deals has been under way for several months and has been revealed in a Province investigation that obtained rare internal data and risk-analysis reports from Canada's financial intelligence unit, Fintrac.
Documents obtained under access to information...
Posted on
July 6, 2015
by
David Reimers
Part of Vancouver's new River District, One Town Centre will consist of a 19-storey residential tower, a townhome and retail podium, a midrise residential structure, and CLUB CENTRAL amenities building.
ARCHITECTURE
- All elements are distinct yet complementary, creating a cohesive architectural form • Facades feature metal cladding and glass elements that reflect a modern interpretation of the area’s industrial heritage
- The quality concrete buildings feature highly sustainable...
Posted on
June 1, 2015
by
David Reimers
Spectacular NW corner 871 sf, 2 bdrm & den, 2 bthrm at the award winning Residences on Georgia w/ panoramic views of English Bay, Lions Gate Bridge, Coal Harbour & mountains. Efficient floor plan featuring floor to ceiling windows,air conditioning, HW flrs, granite in the kitchen & marble counters in bathrooms. Entertainment sized balcony is a perfect vantage to enjoy the vistas. Built in 1997 the building features 24 hour concierge service, an exercise centre, meeting rms &more. A...
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