News: Vancouver Real Estate Market

Vancouver, BC – February 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 4,377 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January, up 3.1 per cent from the same month last year. Total sales dollar volume was $2.6 billion, an increase of 8.3 per cent compared to a year ago. The average MLS® residential price in the province rose to $593,155, up 5.0 per cent from the same month last year.

"Last month...

Introducing The Independent, a landmark project that will bring 258 additional homes to the vibrant Mount Pleasant community. The Independent will be a building unlike any other in Vancouver, a focal point of community and an evocative architectural expression as unique as the neighbourhood itself.

1 Bedrooms from $279,900
2 Bedrooms from $389,900
Townhouses in the low $800's
Penthouses up to $1.7M

With 68% of homes under $500K and 15% of homes over 1,000 sq.ft., The Independent at Main has...

The first month of 2015 saw home sale activity above historical norms, while the number of homes listed for sale trended below typical levels.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,913 on the Multiple Listing Service® (MLS®) in January 2015. This represents an 8.7 per cent increase compared to the 1,760 sales recorded in January 2014, and a 9.6 per cent decline compared to the 2,116 sales in December...

Steep oil price declines expected to impact key markets

TORONTO, January 14, 2015 – Across the country, average home prices showed modest to healthy year-over-year gains in most markets in the fourth quarter of 2014, according to the Royal LePage House Price Survey and Market Survey Forecast released today.

During the quarter, the average price of a home in Canada increased between 4.5 per cent and 6.7 per cent year-over-year. Nationally, the average price of detached bungalows rose 6.7...

   The numbers below are updated monthly.

For more information regarding new construction please don't hesitate to ask.

It was a typical year for the Metro Vancouver housing market in certain respects. The regions home sale and listing totals for 2014 both rank fifth when compared against the past 10 years of activity, while home prices increased.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2014 reached 33,116, a 16.1 per cent increase from the 28,524 sales recorded in 2013, and a 32.3 per cent increase over the 25,032 residential...

This article was originally posted in August 2012. I thought it appropriate to repost with the following guide that was recently published to help homeowner's: A Homeowner’s Guide to Radon

What is radon?

Radon is a radioactive gas that causes cancer. Radon is found in rock, soil, water, some building materials, and natural gas. You can't see, taste, or smell it.

How does radon exposure occur?

Any home, school, office, or other building can have high levels of radon. Radon is found...

Sussex Realty joins forces with Royal LePage to expand powerhouse brokerage

TORONTO, December 3, 2014 – Royal LePage is pleased to announce the addition of Prudential Sussex Realty to the Royal LePage network. Operating as Royal LePage Sussex, its team of close to 300 agents joins Royal LePage’s company-owned brokerage operation, the number one brokerage in the nation.

“We are thrilled to welcome the Sussex team to the Royal LePage family,” said Phil Soper, President...

Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month's...

Home sales in the Metro Vancouver* housing market continue to outpace long-term averages for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,057 on the Multiple Listing Service® (MLS®) in October 2014. This represents a 14.9 per cent increase compared to the 2,661 sales in October 2013, and a 4.6 per cent increase over the 2,922 sales in September 2014.

Last month’s sales were 16.6...

These days it seems quite common for parents to help their children buy real estate. When I look back over the last 3 years, I would say about a third of all the properties I've sold had the buyer's parents helping in some form or another. I am a prime example myself. My parents helped me with the down-payment of my very first home and I wouldn't be where I am today without their help. Thanks mum and dad :)

As a parent how can you help?

The easiest way for most parents to help...

   COQUITLAM, B.C. - October 14, 2014 - The annual Westwood Plateau Pumpkin Giveaway for Charity is coming up on October 18th, 2014 between 10am and 1pm at Westwood Plateau Village (1410 Parkway Blvd, Coquitlam). 200 Pumpkins will be given away to the first 200 kids to kick-off Reimers Group's annual Pumpkin Carving Contest. Be sure to arrive early to secure your pumpkin. At the same time donations will be collected for the Royal LePage Shelter Foundation which directly benefits ...

Home buyers were active in Metro Vancouver last month, with home sales well exceeding the 10-year average for September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,922 on the Multiple Listing Service® (MLS®) in September 2014. This represents a 17.7 per cent increase compared to the 2,483 sales in September 2013, and a 5.4 per cent increase over the 2,771 sales in August 2014.

Last month’s sales were 16.1...

   The British Columbia Real Estate Association (BCREA) reports that a total of 7,341 residential sales were recorded by the Multiple Listing Service® (MLS®) in August, up 7 per cent from August 2013. Total sales dollar volume was $4.1 billion, an increase of 12.4 per cent compared to a year ago. The average MLS® residential price in the province rose to $560,318, up 5 per cent from the same month last year.

“Consumer demand remained relatively robust in August,...

The Metro Vancouver housing market experienced steady home sale, listing, and pricing trends for the month of August.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,771 on the Multiple Listing Service® (MLS®) in August 2014. This represents a 10.2 per cent increase compared to the 2,514 sales recorded in August 2013, and a 9.5 per cent decline compared to the 3,061 sales in July 2014.

“Activity this summer has...

The Greater Vancouver housing market continues to see slightly elevated demand from home buyers, steady levels of supply from home sellers and incremental gains in home values depending on the area and property type.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,061 on the Multiple Listing Service® (MLS®) in July 2014. This represents a 3.9 per cent increase compared to the 2,946 sales recorded in July...

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,406 on the Multiple Listing Service® (MLS®) in June 2014. This represents a 28.9 per cent increase compared to the 2,642 sales recorded in June 2013, and a 3.7 per cent increase compared to the 3,286 sales in May 2014.

Last month’s sales were 0.6 per cent above the 10-year sales average for June of 3,386.

"Competition amongst home buyers today is as...

An increase in home buyer demand put Greater Vancouver in the upper reaches of a balanced real estate market in May.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,286 on the Multiple Listing Service® (MLS®) in May 2014. This represents a 14 per cent increase compared to the 2,882 sales recorded in May 2013, and a 7.7 per cent increase compared to the 3,050 sales in April 2014.

Last month's sales were...

   Vancouver, BC – May 13, 2014. The British Columbia Real Estate Association (BCREA) reports that a total of 7,730 residential sales were recorded by the Multiple Listing Service® (MLS®) in April, up 12 per cent from April 2013. Total sales dollar volume was $4.3 billion, an increase of 19 per cent compared to a year ago. The average MLS® residential price in the province rose to $561,613, up 6.3 per cent from the same month last year.

"BC home sales trended higher...

Home buyers and sellers became more active in the Greater Vancouver housing market in April.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,050 on the Multiple Listing Service® (MLS®) in April 2014. This represents a 16.1 per cent increase compared to the 2,627 sales recorded in April 2013, and a 15.5 per cent increase compared to the 2,641 sales in March 2014.

Last month’s sales were 5.2 per cent...

In the first two months of 2014, the Greater Vancouver housing market has maintained the steady pace set throughout 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,530 on the Multiple Listing Service® (MLS®) in February 2014. This represents a 40.8 per cent increase compared to the 1,797 sales recorded in February 2013, and a 43.8 per cent increase compared to the 1,760 sales in January 2014.

Last...

First-time home buyers received welcome news in today’s provincial budget. 

The government has announced, effective February 19, 2014, under the Property Transfer Tax (PTT) First-Time Home Buyers’ Exemption program, qualifying first-time buyers can buy a home worth up to $475,000. The previous threshold was $425,000.

The partial exemption continues and will apply to homes valued between $475,000 and $500,000.

With this change, the government estimates 1,700 additional...

A large portion of Coquitlam West is currently undergoing major redevelopment. The City's official community plan has rezoned much of the area West of Dogwood St to High Density housing which is in large part due to the new Evergreen Line that is scheduled for completion by the summer of 2016. Coquitlam West real estate could very well be the Lower Mainland's next real estate hot-spot. There are also major redevelopment plans coming up for the areas around Lougheed Mall over the next 20 years.

 ...

Officially Government Road is bounded by Lougheed Highway to the north, Brighton Avenue to the east, Burnaby Lake to the south and Sperling Avenue to the west. The Government Road area is a neighbourhood consisting primarily of single detached houses on large estate size lots. Luxury homes are common. From a real estate perspective however the Real Estate Board of Greater Vancouver extends the eastern boundary past Brighton Ave all the way to the intersection of Government St and Lougheed Highway....

   In its recently tabled budget, the Federal Government effectively cancelled a program, the Canadian Immigrant Investor Program (IIP), which afforded wealthy prospective immigrants access to fast-tracked immigration. The program, which began in 1995, allowed immigrants with $1.6 million or more in assets (the amount was increased from $800,000 in 2010) to make an interest free loan to the Canadian government of $800,000 for a period of 5 years in return for Canadian citizenship. At the...

Uptown, a new development by Bosa Properties, consists of two high-rise towers containing 450 homes. The amenities include a 2,315 sq ft wellness pavilion with a fitness room and change rooms, a yoga studio, an infrared sauna and a steam room. Each of the two condo towers will have their own private, stylish entertainment lounge space as well. Located at the corner of Como Lake Avenue and Clarke Road and just half a block from a SkyTrain station along the brand new Evergreen Line, Uptown will be West...

The first month of 2014 saw home sale and listing totals outpace historical averages in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,760 on the Multiple Listing Service® (MLS®) in January 2014. This represents a 30.3 per cent increase compared to the 1,351 sales recorded in January 2013, and a 9.9 per cent decline compared to the 1,953 sales in December 2013.

 ...

Kensington Gardens is an integrated urban community comprised of three unique residential towers, a collection of townhouses and a residential podium, linked by an elevated landscaped courtyard, a new park, lane and plaza.

Residents will enjoy all the benefits from the elevated garden courtyard, a child-friendly playground as well as a residents' lounge that comes with a multimedia theater. The retail podium and landmark plaza will cater to all your everyday needs, from international dining to grocery...

The British Columbia Real Estate Association (BCREA) reports that a total of 72,936 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during 2013, up 7.8 per cent from 2012. The five-year average is 75,400 units, while the ten-year average is 84,800 units. Total sales dollar volume was $39.2 billion, an increase of 12.6 per cent compared to 2012. The average annual MLS® residential price in the province rose to $537,414 last year, up 4.4 per cent from 2012....

Conditions are ripe for as strong a market as the post-recessionary rebound

TORONTO, January 9, 2014 – According to the Royal LePage House Price Survey and Market Survey Forecast released today, the average price of a home in Canada increased between 1.2 per cent and 3.8 per cent in the fourth quarter of 2013.

The survey showed year-over-year average price increases in the fourth quarter of 2013 of 3.6 per cent to $418,282 for standard two-storey homes and 3.8 per cent to $380,710 for...

The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.

"Home sales quietly improved last year compared to 2012, although the volume of activity didn't...

Consistent home sale and listing activity has allowed balanced market conditions to prevail in the Greater Vancouver housing market for most of 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,321 on the Multiple Listing Service® (MLS®) in November 2013. This represents a 37.7 per cent increase compared to the 1,686 sales recorded in November 2012, and a 12.8 per cent decline compared to the 2,661 sales in October...

   Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2,661 on the Multiple Listing Service® (MLS®) in October 2013. This is a 37.8 per cent increase compared to the 1,931 sales recorded in October 2012, and a 7.2 per...

Professional negotiation skills are a must for all real estate agents helping home buyers and sellers, particularly in the current market.

David Reimers has been awarded the Certified Negotiation Expert (CNE®) designation by the Real Estate Negotiation Institute (RENI). The CNE® is earned by real estate professionals after successfully completing formal negotiation training from the Real Estate Negotiation Institute. Agents who receive this certification are in the top 1% of all agents nationally....

The British Columbia Real Estate Association (BCREA) released its 2013 Fourth Quarter Housing Forecast today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 6 per cent to 71,700 units this year, before increasing a further 6.3 per cent to 76,200 units in 2014. The five-year average is 74,600 unit sales, while the ten-year average is 86,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.

"Consumer demand has bounced back after waning...

Royal LePage records strong house price gains in the third quarter of 2013

TORONTO, October 10, 2013 – According to the Royal LePage House Price Survey released today, the average price of a home in Canada increased between 1.2 per cent and 4.1 per cent in the third quarter of 2013.

The survey showed a year-over-year average price increase of 3.7 per cent to $418,686 for standard two-storey homes, while detached bungalows rose 4.1 per cent to $381,811. During the same period, the...

Today Concord Pacific unveiled its newest neighbourhood "False Creek Central". Situated at the Cambie Gateway to Downtown Vancouver, it will connect Marinaside, Coopers’ Park and Yaletown neighbourhoods to Vancouver’s Sports and Entertainment District. The neighbourhood, along with Vancouver’sUrban Resort by Paragon/VOX 360, is an investment worth over a billion dollars. Concord’s new neighbourhood will be comprised of 8 buildings, 90,000 square feet of commercial,retail and...

Home buyer and seller activity in the Greater Vancouver housing market continues to far outpace 2012, yet is in line with the region’s 10-year averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,483 on the Multiple Listing Service® (MLS®) in September 2013. This represents a 63.8 per cent increase compared to the 1,516 sales recorded in September 2012, and a 1.2 per cent decline compared to the 2,514...

August activity in the Greater Vancouver housing market finished well above last year’s pace and slightly below the 10-year average for the month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,514 on the Multiple Listing Service® (MLS®) in August 2013. This represents a 52.5 per cent increase compared to the 1,649 sales recorded in August 2012, and a 14.7 per cent decline compared to the 2,946 sales in July 2013....

The British Columbia Real Estate Association (BCREA) released its 2013 Third Quarter Housing Forecast Update today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 3.9 per cent to 70,300 units this year, before increasing a further 6.1 per cent to 74,600 units in 2014. The five-year average is 74,600 unit sales, while the ten-year average is 86,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.

"After a marked pull back of consumer...

Sunny weather did not slow the pace of home sale activity in July. Last month was the highest selling month of the year in Greater Vancouver and the highest selling July since 2009.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,946 on the Multiple Listing Service® (MLS®) in July 2013. This represents a 40.4 per cent increase compared to the 2,098 sales recorded in July 2012, and an 11.5 per cent increase compared...

   Royal LePage forecasts modest house price gains for remainder of 2013, as Canadian housing emerges from current market cycle

TORONTO, July 9, 2013 – The average price of a home in Canada increased between 1.2 per cent and 2.7 per cent in the second quarter of 2013, according to the Royal LePage House Price Survey and Market Survey Forecast, released today.

According to the survey, markets across the country continue to post gains. In the second quarter, standard two-storey...

The Greater Vancouver housing market continues to maintain a relative balance between the number of homes for sale and the number of people looking to purchase a home in the region today.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,642 on the Multiple Listing Service® (MLS®) in June 2013. This represents an 11.9 per cent increase compared to the 2,362 sales recorded in June 2012, and an 8.3 per cent decline...

   While the number of home sales in Greater Vancouver continued to trend below the 10-year average in May, the balance of sales and listings meant continued market stability this spring.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,882 on the Multiple Listing Service® (MLS®) in May 2013. This represents a one per cent increase compared to the 2,853 sales recorded in May 2012, and a 9.7 per...

A closer relationship between home buyer demand and the supply of homes for sale has been having a stabilizing impact on home prices in the Greater Vancouver housing market over the last three months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,627 on the Multiple Listing Service® (MLS®) in April 2013. This represents a 6.1 per cent decrease compared to the 2,799 sales recorded in April 2012, and an 11.9 per...

This market study is focused on Coquitlam condos and townhomes in the Town Centre of Coquitlam and was prepared by David Reimers.

Overall Impression of the Area: High-rise apartments form the majority of the housing stock in the area. There are a number of new high-rise developments currently under construction. Excellent amenities for residents with a wide selection of shopping, commercial, recreational, school and transit options. A great area for first time buyers, investors or those re-sizing....

Unprecedented combination of low interest rates, flattening house prices and strengthening economy provide support to Canada’s housing market

TORONTO, April 4, 2013 –The Royal LePage House Price Survey released today showed that house prices remained relatively flat in the first quarter of 2013 compared to the first quarter of 2012, recording that the average price of a home in Canada increased between 1.2 per cent and 2.4 per cent. An unprecedented combination of flat or in some regions...

   Lower levels of both supply and demand in recent months are holding home prices in check in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,347 on the Multiple Listing Service® (MLS®) in March 2013. This represents an 18.3 per cent decrease compared to the 2,874 sales recorded in March 2012, and a 30.6 per cent increase compared to the 1,797...