Homeowners in Vancouver began receiving their 2018 property assessment notices in the mail at the beginning of the year.

By now, everyone should have received one and have a clear idea of the assessed value of their property.

This is important because this value determines the property taxes that must be paid.

British Columbia's real estate market saw continued strong activity in 2017 and both residential and commercial property values showed growth in almost all areas.

Average detached single-family homes were stable in the greater Metro Vancouver areas of Richmond, Vancouver, the North Shore and Burnaby compared to other parts of the province.

Condos, on the other hand, saw some of the biggest changes of between 10 to 30 per cent increase in assessed value.

You can look up different property assessments on B.C. Assessment's website to search and compare different 2018 property assessments.

In order to assess the value of the property, a number of key factors such as location, size, land surface, age and condition of the building are taken into consideration.

A large increase in property assessments does not always translate into a corresponding increase in property taxes, however. It also takes into account changes relative to your community.

Property taxes help fund essential services like police, fire fighting and emergency rescue. They also support community programs, recreation centres, public libraries, parks and much more.

Advanced taxes are due on February 2 and main taxes due July 4. They can be paid in multiple ways; in person, online banking, credit card or cheque. You can set up a Property Tax Monthly Payment Plan to avoid paying them all at once.

Another option is to apply for the homeowner grant.  If eligible, this grant reduces the amount of property tax that are due. The application is online.

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Home buyer demand depends on property type


VANCOUVER, BC – February 2, 2018 –

Attached and apartment homes are in demand

across Metro Vancouver* while detached home buyers are facing less competition today.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the
region totalled 1,818 in January 2018, a 19.4 per cent increase from the 1,523 sales recorded in
January 2017, and a 9.8 per cent decrease compared to December 2017 when 2,016 homes sold.
Last month’s sales were 7.1 per cent above the 10-year January sales average.

 

By property type,  detached sales were down 24.8 per cent from the 10-year January average, attached sales
increased 14.3 per cent and apartment sales were up 31.6 per cent over the same period.
“Demand remains elevated and listings scarce in the attached and apartment markets across
Metro Vancouver,” Jill Oudil, REBGV president said.

 

“Buyers in the detached market are facing less competition and have much more selection to choose. For detached home sellers to be
successful, it’s important to set prices that reflect today’s market trends.”


There were 3,796 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in January 2018. This represents an 8.3
per cent decrease compared to the 4,140 homes listed in January 2017 and a 100.7 per cent
increase compared to December 2017 when 1,891 homes were listed.


The total number of properties currently listed for sale on the MLS® system in Metro Vancouver
is 6,947, a four per cent decrease compared to January 2017 (7,238) and a 0.2 per cent decrease
compared to December 2017 (6,958).


For all property types, the sales-to-active listings ratio for January 2018 is 26.2 per cent. By
property type, the ratio is 11.6 per cent for detached homes, 32.8 per cent for townhomes, and
57.2 per cent for condominiums.


Generally, analysts say that downward pressure on home prices occurs when the ratio dips below
the 12 per cent mark for a sustained period, while home prices often experience upward pressure
when it surpasses 20 per cent over several months.


The MLS® Home Price Index composite benchmark price for all residential homes in Metro
Vancouver is currently $1,056,500. This represents a 16.6 per cent increase over January 2017
and a 0.6 per cent increase compared to December 2017.

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How a Professional Chef Would Remodel Your Kitchen

 

Watch any TV cooking show, and you’ll notice that a chef’s kitchen looks quite a bit different than what you’d find in most homes.

But, that doesn’t mean you can’t have one just like it in your home! With a little remodeling, and splurging on some new items, you too can have a kitchen worthy of Gordon Ramsey, Jamie Oliver, or Rachel Ray.

 

Chefs love counter space. So, when remodeling, plan to create as much as possible. If you have an existing island, for example, you can replace the countertop with a larger one.

 

Just adding eight inches in both directions will make a big difference.

 

Most chefs have more than one oven. If that’s impractical for you, consider buying a double-oven stove. Also, chefs prefer gas burners for quicker heatup times and exacting control of cooking temperature. One thing you’ll notice about chefs is they love stainless steel.

 

That’s because it’s easy-to-clean, hygienic and durable (assuming you take care of it). Finally, because chefs spend so much time in the kitchen, they want the space to be attractive and comfortable. So, when remodeling, keep decor in mind.

Even if you’re just an amateur chef, creating a chef-worthy kitchen will make the foodie in you smile. :) 

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Sometimes the reason for putting your home on the market is crystal clear.

For example, you might have a job relocation and need to move.

 

Or, you might have decided to downsize because the kids have left the nest. However, there are many other motivations to list your home that are not as obvious, and yet are still good reasons to make a move.

Here are just a few examples...

• You’re bored with your home and are looking for a change.

• There’s something you’ve always wanted in a home that your current property doesn’t have, such as a wooded backyard.

• You want to be closer to work, or to activities you enjoy, such as golf.

• You want to be closer to family.

• The neighbourhood is changing in a way that no longer fits the lifestyle you want.

• There’s another neighbourhood you’ve always dreamed of living in.

• Your tastes have changed and you want to live in a different type of home. None of these reasons makes it an absolute necessity to list your property and find a new home.

 

Yet, they’re all worth considering, especially if moving will make you and your family happier, and provide you with a more desirable lifestyle.

 

Want to talk about the possibilities?

Call today.

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Steady sales and diminished listings characterize 2017 for the Metro Vancouver housing market

 

 

After reaching record levels in 2015 and 2016, Metro Vancouver home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a 9.9 per cent decrease from the 39,943 sales recorded in 2016, and a 15 per cent decrease over the 42,326 residential sales in 2015.

 

Last year’s sales total was, however, 9.7 per cent above the 10-year sales average.

“It was a steady year for home sales across the region, led by condominium and townhome activity, and a quieter year for home listings,” Jill Oudil, REBGV president said.

 

“Metro Vancouver home sales were the third highest we’ve seen in the past ten years while the home listings total was the second lowest on record for the same period.”

 

Home listings in Metro Vancouver reached 54,655 in 2017. This is a 5.1 per cent decrease compared to the 57,596 homes listed in 2016 and a 4.5 per cent decrease compared to the 57,249 homes listed in 2015.

Last year’s listings total was 4.4 per cent below the 10-year listings average.

 

“Market activity differed considerably this year based on property type,” Oudil said. “Competition was intense in the condominium and townhome markets, with multiple offer situations becoming commonplace.

 

The detached home market operated in a more balanced state, giving home buyers more selection to choose from and more time to make decisions.”

The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,050,300. This is up 15.9 per cent compared to December 2016.

The benchmark price of condominiums increased 25.9 per cent in the region last year. Townhomes increased 18.5 per cent and detached homes increased 7.9 per cent.

“Strong economic growth, low interest rates, declining unemployment, increasing wages and a growing population all helped boost home buyer demand in our region last year,” Oudil said.

December summary

Sales of detached, attached, and apartment properties totalled 2,016 in the region in December 2017, a 17.6 per cent increase from the 1,714 sales recorded in December 2016 and a 27.9 per cent decrease compared to November 2017 when 2,795 homes sold.

Last month’s sales were 7.5 per cent above the 10-year sales average for the month.

 

“As we move into 2018, REALTORS® are working with their clients to help them understand how changing interest rates and the federal government’s new mortgage qualifications could affect their purchasing power,” Oudil said. “Only time will tell what impact these rules will have on the market.

 

“Home buyers today should get pre-approved before making an offer to ensure that your home buying goals align with your financial situation,” Oudil said.

 

There were 1,891 residential homes newly listed for sale in December 2017. This represents a 44.1 per cent increase compared to the 1,312 homes listed in December 2016 and a 54 per cent decrease compared to November 2017 when 4,109 properties were listed.

 

The total number of homes currently listed for sale on the MLS® in Metro Vancouver is 6,958, a 9.7 per cent increase compared to December 2016 (6,345) and a 20.5 per cent decrease compared to November 2017 (8,747).

The sales-to-active listings ratio for December 2017 is 29 per cent. By property type, the ratio is 14.4 per cent for detached homes, 38.8 per cent for townhomes, and 59.6 per cent for condominiums.

 

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

Sales of detached properties in December 2017 reached 617, a 14 per cent increase from the 541 detached sales recorded in December 2016. The benchmark price for a detached home in the region is $1,605,800. This represents a 7.9 per cent increase compared to December 2016.

 

Sales of apartment homes reached 1,028 in December 2017, a 12.3 per cent increase compared to the 915 sales in December 2016.The benchmark price of an apartment in the region is $655,400. This represents a 25.9 per cent increase compared to December 2016.

 

Attached (or townhome) property sales in December 2017 totalled 371, a 43.8 per cent increase compared to the 258 sales in December 2016. The benchmark price of an attached home in the region is $803,700. This represents an 18.5 per cent increase compared to December 2016.

For more details feel free to call me 604-724-0725.  I look forward to hearing from you.

 

Erica Rendell 

 

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“Detached homes made up 30 per cent of all sales in September and represented 62 per cent of
all the homes listed for sale on the MLS®,” said Oudil. “This dynamic has slowed the pace of
upward pressure that we’ve seen on detached home prices in our market over the last few years.”
For all property types, the sales-to-active listings ratio for September 2017 is 29.8 per cent. By
property type, the ratio is 14.6 per cent for detached homes, 42.3 per cent for townhomes, and
60.4 per cent for apartments.


Generally, analysts say that downward pressure on home prices occurs when the ratio dips below
the 12 per cent mark for a sustained period, while home prices often experience upward pressure
when it surpasses 20 per cent over several months.


The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $1,037,300. This represents a 10.9 per cent increase over September 2016
and a 0.7 per cent increase compared to August 2017.


Sales of detached properties in September 2017 reached 852, a 27.9 per cent increase from the
sales recorded in September 2016 (666), a decrease of 33 per cent from September 2015 (1,272),
and a decrease of 32.9 per cent from September 2014 (1,270). The benchmark price for detached
properties is $1,617,300. This represents a 2.9 per cent increase from September 2016 and a 0.1
per cent increase compared to August 2017.


Sales of apartment properties reached 1,451 in September 2017, a 19.1 per cent increase
compared from the sales recorded in September 2016 (1,218), a 5.1 per cent decrease from
September 2015 (1,529), and a 22.1 per cent increase from September 2014 (1,188). The
benchmark price of an apartment property is $635,800. This represents a 21.7 per cent increase
from September 2016 and a 1.4 per cent increase compared to August 2017.


Attached property sales in September 2017 totalled 518, a 40.4 per cent increase compared to the
sales recorded in September 2016 (369), a 4.8 per cent decrease from September 2015 (544), and
an 11.6 per cent increase from September 2014 (464).

The benchmark price of an attached home
is $786,600.

 

This represents a 14.5 per cent increase from September 2016 and a 1.1 per cent
increase compared to August 2017.

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Apartment and townhome activity is outpacing the detached home market across Metro Vancouver*. This activity helped push total residential sales above the historical average in September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,821 in September 2017, a 25.2 per cent increase from the 2,253 sales recorded in September 2016, and a 7.3 per cent decrease compared to August 2017 when 3,043 homes sold.

Last month’s sales were 13.1 per cent above the 10-year September sales average.

“Our detached homes market is balanced today, while apartment and townhome sales remain in sellers' market territory,” Jill Oudil, REBGV president said. “If you’re looking to enter the market, as either a buyer or seller, it’s important to understand these trends and use this information to set realistic expectations.”

There were 5,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2017. This represents a 12 per cent increase compared to the 4,799 homes listed in September 2016 and a 26.6 per cent increase compared to August 2017 when 4,245 homes were listed.

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July 2017 Real estate News By The Numbers JULY 2017 


Home buyer activity returned to more typical summer levels in Metro Vancouver last month. 


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,960 in July 2017, an 8.2 per cent decrease from the 3,226 sales recorded in July 2016, and a decrease of 24 per cent compared to June 2017 when 3,893 homes sold.

 

Last month’s sales were 0.7 per cent above the 10-year July sales average.

 

“Housing demand is inconsistent across the region right now. Pockets of the market are still receiving multiple offers and others are not. It depends on price, property type, and location,” Jill Oudil, REBGV president said. “For example, it’s taking twice as long, on average, for a detached home to sell compared to both townhomes and condominiums.”

There were 5,256 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2017.

 

This represents a 0.3 per cent increase compared to the 5,241 homes listed in July 2016 and an 8.1 per cent decrease compared to June 2017 when 5,721 homes were listed.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,194, a 10.1 per cent increase compared to July 2016 (8,351) and an eight per cent increase compared to June 2017 (8,515).

“Because home sale activity decreased to more historically normal levels in July, the selection of homes for sale in the region was able to edge above 9,000 for the first time this year,” Oudil, said.

 

For all property types, the sales-to-active listings ratio for July 2017 is 32.2 per cent. By property type, the ratio is 16.9 per cent for detached homes, 44.9 per cent for townhomes, and 62 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,019,400.

This represents an 8.7 per cent increase over July 2016 and a 2.1 per cent increase compared to June 2017.

 

Sales of detached properties in July 2017 reached 949, a decrease of 11.9 per cent from the 1,077 detached sales recorded in July 2016. The benchmark price for detached properties is $1,612,400. This represents a 1.9 per cent increase from July 2016 and a 1.5 per cent increase compared to June 2017.

 

Sales of apartment properties reached 1,468 in July 2017, a decrease of 8.4 per cent compared to the 1,602 sales in July 2016. The benchmark price of an apartment property is $616,600. This represents an 18.5 per cent increase from July 2016 and a 2.7 per cent increase compared to June 2017.

 

Attached property sales in July 2017 totalled 543, a decrease of 0.7 per cent compared to the 547 sales in July 2016. The benchmark price of an attached unit is $763,700. This represents an 11.9 per cent increase from July 2016 and a 2.4 per cent increase compared to June 2017.

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What Do Interior Designers Do?

 

If you want to transform a room into something that’s functional, beautiful and perfectly matched to your taste, then you might want to hire an interior designer.

 

It’s an interior designer’s job to come up with imaginative ideas that will wow you.

 

It’s a myth that interior designers just deal with paint colours, décor and furnishings. In fact, according to the Interior Designers Institute, these professionals have the training needed to handle all aspects of a renovation or remodeling project, including selecting and managing contractors. They can direct a project from beginning to end.

 

If you want to renovate your basement into a stunning home theatre and gathering place, an interior designer can:

• Draw out several concepts for you to choose from,

• Purchase the best building materials,

• Hire the contractors, and 

• Manage the project.

 

He or she can even pick out classic movie pictures for the walls!

 

There are many professional associations that have “Find an Interior Designer” links on their websites. In Vancouver or anywhere in Canada Its the Interior Designers of Canada www.idcanada.org 

 

Erica 

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No Homes for Sale in the Area You Like? Here’s What to Do...


Imagine there’s a neighbourhood you’d love to live in someday, but, every

time you drive through, you rarely, if ever, see a For Sale sign. It’s as if

homes get gobbled up by buyers the moment they get listed.

 

It’s true, properties do tend to sell quickly in desirable, in-demand

neighbourhoods. Does that mean you’re destined to either hope for a lucky

break or miss out on ever living there?

 

Fortunately, no. There are practical things you can do to increase your

chances of getting into that neighbourhood.

 

Your first step is to find out the kind of new home you can afford. You want

to get your financial ducks in a row so when a listing does come up in the

area, you’re able to respond quickly. Find out the average price range of

homes in the neighbourhood. Then, if necessary, talk to your lender or

mortgage broker.

 

The second step is to get your current property ready for sale. You don’t

necessary need to list it now, but you want to be in a position to do so

quickly, if necessary. You may need to clean up and declutter, get repairs

done, and spruce up your home in other ways.

 

The third step is to talk to me.

 

You see, listings in popular neighbourhoods often move fast. By the time

you see them advertised on the internet, they may be gone. I can closely

monitor listings in that area for you, so the moment one comes up that

meets your criteria, you can be alerted. This greatly increases your chances

of getting that home.

 

So if there is a dream neighbourhood you’d love to get into, give me a call.

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Market activity picks up in May 

Home buyer activity returned to near record levels across the Metro Vancouver housing market in May.

 

 

"Demand for condominiums and townhomes is driving today’s activity," Jill Oudil, Real Estate Board of Greater Vancouver (REBGV) president said. “First-time buyers and people looking to downsize from their single-family homes are both competing for these two types of housing.”

 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,044 in May 2017. This represents a 3.9 per cent decrease compared to the 6,289 units listed in May 2016 and a 23.2 per cent increase compared to April 2017 when 4,907 homes were listed.

 

The month-over-month increase in new listings was led by detached homes at 27.1 per cent, followed by apartments at 22.7 per cent and townhomes at 14.1 per cent.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 8,168, a 5.7 per cent increase compared to May 2016 (7,726) and a 4.5 per cent increase compared to April 2017 (7,813).

"Home buyers are beginning to have more selection to choose from in the detached market, but the number of condominiums for sale continues to decline," Oudil said.

 

The sales-to-active listings ratio across all residential categories is 53.4 per cent. By property type, the ratio is 31 per cent for detached homes, 76.1 per cent for townhomes, and 94.6 per cent for condominiums.

 

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

“While sales are inching closer to the record-breaking pace of 2016, the market itself looks different. Sales last year were driven by demand for single-family homes. This year, it's clear that townhomes and condominiums are leading the way,” said Oudil. “It’s important to work with your local REALTOR® to understand the different factors affecting the market today.”

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $967,500. This represents an 8.8 per cent increase over May 2016 and a 2.8 per cent increase compared to April 2017.

 

Sales of detached properties in May 2017 reached 1,548, a decrease of 17 per cent from the 1,865 detached sales recorded in May 2016. The benchmark price for a detached property is $1,561,000. This represents a 3.1 per cent increase over May 2016 and a 2.9 per cent increase compared to April 2017.

 

Sales of apartment properties reached 2,025 in May 2017, a decrease of 5.8 per cent compared to the 2,150 sales in May 2016.The benchmark price for an apartment property is $571,300. This represents a 17.8 per cent increase over May 2016 and a 3.1 per cent increase compared to April 2017.

 

Attached property sales in May 2017 totalled 791, an increase of 4.9 per cent compared to the 754 sales in May 2016. The benchmark price for an attached property is $715,400. This represents a 13.1 per cent increase over May 2016 and a 1.9 per cent increase compared to April 2017.

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Condominiums and townhomes in high demand across Metro
Vancouver 

 

 

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June 9, 2017

 

With very little Supply and High demand  Vancouver Housing Market “Ain’t Seen Nothing Yet”

 

The Vancouver real estate market, far from reaching its peak in terms of unaffordability and lack of housing, is merely “dancing on the edges of a massive problem,” according to one leading development marketer.

 

Speaking to a packed audience at the Urban Development Institute luncheon on new home marketing at the Fairmont Hotel Vancouver June 8, Cameron McNeill of MLA Canada added, “We ain’t seen nothing yet.”

The panel of well-known development marketing bosses, which also included Scott Brown of Fifth Avenue Real Estate Marketing and Daryl Simpson of Bosa Properties, discussed how blistering demand and a trickling supply of new housing is affecting the affordability of homes in the region.

 

Event moderator and UDI chair Jon Stovell of Reliance Properties asked the panel whether onerous building permit requirements and slow processing times were affecting home prices – to which the reply was unanimously “yes, absolutely, 100%.”

 

Cameron McNeill observed that the Metro Vancouver region is expected to grow by 250,000 people in next five years, and that it currently takes around six years to get a highrise residential project from conception to occupancy – “if it all goes well”. He said, “And that’s maybe 300 units. The city is 300,000 people bigger by that point.”

McNeill added, “We’re dancing on the edges of a massive, massive problem. And it’s not going to change. I just came back from Hong Kong and everybody I spoke to said to me, ‘That’s nothing.’ We ain’t seen nothing yet. This is just the tip of the iceberg for Vancouver.”

 

Daryl Simpson pointed out that population growth numbers, and therefore housing demand, would likely be even higher than projected, as projections are based solely on permanent residents and citizens. “One thing they rarely look at student visas and multiple-entry visas. There were 67,000 student visas in BC last year. And you have to think, if they’re flying to BC to study, these are students with means, maybe wealthy families. In 2016, there were 315,000 multiple entry visas – they last 10 years and allow people to fly back and forth. So you need to layer those on top of the permanent residents and citizen population growth.”

 

Scott Brown said, “You can’t fix demand. And if this is a housing crisis as the media says, where is the multi-stakeholder group figuring out how to speed up supply? If we were going to war we sure as hell would be working out how to arm up quickly. But we spend more time working out how to break things apart than how to fix things. We need to work together. We’re trying, but putting one project a time on the market, there’s so much demand, prices just keep escalating.”

 

Simpson added, “Look at the 450 acres in False Creek Flats, with 1,400 residential units in total earmarked for that area. That’s three homes per acre. That’s insane. Ask Ryan Holmes of Hootsuite what he needs, it’s not 450 acres of industrial land, its proximate residential units [so employees can afford to live in Vancouver close to work]. Ask Amazon, they’ll say the same thing. Go to Seattle, there are more residential units being built by Vancouver developers – Bosa, Westbank, Onni – right across the street from the Amazon HQ than will be built in the whole of the False Creek Flats.”

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Demand for homes continues to outpace supply in Metro Vancouver


VANCOUVER, BC – April 4, 2017 – A shortage of residential property listings coupled with
strong demand, particularly for condos and townhomes, continued to impact Metro Vancouver’s
housing market in March.


Residential property sales in the region totalled 3,579 in March 2017, a decrease of 30.8 per cent
from the 5,173 sales recorded in record-breaking March 2016 and an increase of 47.6 per cent
compared to February 2017 when 2,425 homes sold.


Last month’s sales were 7.9 per cent above the 10-year sales average for the month.
“While demand in March was below the record high of last year, we saw demand increase
month-to-month for condos and townhomes,” Jill Oudil, Real Estate Board of Greater Vancouver
(REBGV) president said. “Sellers still seem reluctant to put their homes on the market, making
for stiff competition among home buyers.”


New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,762
in March 2017. This represents a decrease of 24.1 per cent compared to the 6,278 units listed in
March 2016 and a 29.9 per cent increase compared to February 2017 when 3,666 properties were
listed.

 


This is the lowest number of new listings in March since 2009.


The total number of properties currently listed for sale on the MLS® system in Metro Vancouver
is 7,586, a 3.1 per cent increase compared to March 2016 (7,358) and a 0.1 per cent decrease
compared to February 2017 (7,594).

 


The sales-to-active listings ratio for March 2017 is 47.2 per cent, a 15-point increase over
February. Generally, analysts say that downward pressure on home prices occurs when the ratio
dips below the 12 per cent mark for a sustained period, while home prices often experience
upward pressure when it surpasses 20 per cent over several months.
“Home prices will likely continue to increase until we see more housing supply coming on to the
market,” Oudil said.


The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $919,300. This represents a 0.8 per cent decrease over the past six
months and a 1.4 per cent increase compared to February 2017.
Sales of detached properties in March 2017 reached 1,150, a decrease of 46.1 per cent from the
2,135 detached sales recorded in March 2016. The benchmark price for detached properties is
$1,489,400.

This represents a 5.0 per cent decrease over the past six months and a one per cent
increase compared to February 2017.


Sales of apartment properties reached 1,841 in March 2017, a decrease of 18.3 per cent
compared to the 2,252 sales in March 2016.The benchmark price of an apartment property is
$537,400. This represents a 5.2 per cent increase over the past six months and a 2.1 per cent
increase compared to February 2017.


Attached property sales in March 2017 totalled 588, a decrease of 25.2 per cent compared to the
786 sales in March 2016. The benchmark price of an attached unit is $685,100. This represents a
1.3 per cent increase over the past six months and a 1.4 per cent increase compared to February
2017.

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SOLD : April 20 2017 MLS R2155660 #ericarealtor 

 

WEDGEWOOD VILLA – Corner unit Completely & beautifully renovated bright ,sunny Two bedrooms w/ two ensuite bathrooms & 3rd bathroom/powder room on main floor.

 

This two level townhome boasts a large private roof-top deck featuring Fantastic views day or night.. 

 

Everything updated,Paint, flooring, counters, complete kitchen Reno ,all 3 bathrooms ..simply gorgeous top to bottom a must see!!Gas F/P in L/R incl. in fees,spacious bright kitchen w/S/Sl appliances & separate D/R.

 

Insuite stacker laundry.Second largest townhome in this 28-unit complex comes with secure parking stall and Huge locker.

 

Well managed building just competed major envelope replacement ,new windows & Roof only 7 years old.Steps to all amenities, bus loop,

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Quality finishing throughout this mellow, immaculate 1 bdrm suite, blocks walk from ever popular East Village shopping, restaurants and some of Vancouver's best craft breweries. Asking $379K

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Low supply continues to limit Metro Vancouver home buyers   March 2017

Reluctance amongst Metro Vancouver* home sellers is impacting sale and price activity throughout the region’s housing market.

 

Residential home sales in the region totalled 2,425 in February 2017. This is a 41.9 per cent decrease from the record 4,172 homes sold in February 2016 and an increase of 59.2 per cent compared to January 2017 when 1,523 homes sold.

 

Last month’s sales were 7.7 per cent below the 10-year February sales average.

 

“February home sales were well below the record-breaking activity from one year ago and in line with our long-term historical average for the month,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “Limited supply and snowy weather were two factors hampering this activity.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,666 in February 2017. This represents a 36.9 per cent decrease compared to the 5,812 units listed in February 2016 and an 11.4 per cent decrease compared to January 2017 when 4,140 properties were listed.

This is the lowest number of new listings registered in February since 2003.

 

The total number of properties currently listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver is 7,594, a four per cent increase compared to February 2016 (7,299) and a 4.9 per cent increase compared to January 2017 (7,238).

The region’s sales-to-active listings ratio for February 2017 is 31.9 per cent, a 10-point increase from January. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

“While home sales are not happening at the pace we experienced last year, home seller supply is still struggling to keep up with today’s demand. This is why we’ve seen little downward pressure on home prices, particularly in the condominium and townhome markets,” Morrison said. 

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $906,700. This represents a 2.8 per cent decrease over the past six months and a 1.2 per cent increase compared to January 2017.

 

Sales of detached properties in February 2017 reached 745, a decrease of 58.1 per cent from the 1,778 detached sales recorded in February 2016. The benchmark price for detached properties is $1,474,200. This represents a 6.5 per cent decrease over the past six months and is unchanged compared to January 2017.

Sales of apartment properties reached 1,275 in February 2017, a decrease of 28.8 per cent compared to the 1,790 sales in February 2016.The benchmark price of an apartment property is $526,300. This represents a 2.3 per cent increase over the past six months and a 2.7 per cent increase compared to January 2017.

 

Attached property sales in February 2017 totalled 404, a decrease of 33.1 per cent compared to the 604 sales in February 2016. The benchmark price of an attached unit is $675,500. This represents a 0.3 per cent decrease over the past six months and a 1.3 per cent increase compared to January 2017.

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SW facing, incredibly quiet and very private. Efficient floor plan with open living/dining area great for entertaining. Features include cozy real wood burning fp, granite countertops, h/w floors , insuite laundry & more. Amazing 650 sq. ft. deck comes to life in the Spring. Expect azalea, rhododendrons & climbing hydrangeas to be out. Walkers paradise. 5 minutes to everything, shopping, theatres, restaurants, short walk to Granville Island & close to downtown. One small dog or 2 cats. Parking and storage included. Well managed building. Age rest. to 19+ to occupy. Open House Feb. 11th & 12th 2:00-4:00pm.  A pleasure to show.

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Residential property sales in the region totalled 1,523 in January 2017, a 39.5 per cent decrease from the 2,519 sales recorded in January 2016 and an 11.1 per cent decrease compared to December 2016 when 1,714 homes sold.

Last month’s sales were 10.3 per cent below our 10-year January sales average.

 

“From a real estate perspective, it’s a lukewarm start to the year compared to 2016,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “While we saw near record-breaking sales at this time last year, home buyers and sellers are more reluctant to engage so far in 2017.”

 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,140 in January 2017. This represents a 6.8 per cent decrease compared to the 4,442 homes listed in January 2016 and a 215.5 per cent increase compared to December 2016 when 1,312 properties were listed.

 

The total number of homes currently listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver is 7,238, a 9.1 per cent increase compared to January 2016 (6,635) and a 14.1 per cent increase compared to December 2016 (6,345).

 

The sales-to-active listings ratio for January 2017 is 21 per cent. This is the lowest the ratio has been in the region since January 2015. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

“Conditions within the market vary depending on property type. The townhome and condominium markets are more active than the detached market at the moment,” Morrison said. “As a result, detached home prices declined about 7 per cent since peaking in July while townhome and condominium prices held steady over this period.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $896,000. This represents a 3.7 per cent decline over the past six months and a 0.2 per cent decrease compared to December 2016.

 

Sales of detached properties in January 2017 reached 444, a decrease of 57.6 per cent from the 1,047 detached sales recorded in January 2016. The benchmark price for detached properties is $1,474,800. This represents a 6.6 per cent decline over the last six months and a 0.6 per cent decrease compared to December 2016.

Sales of apartment properties reached 825 in January 2017, a decrease of 24.7 per cent compared to the 1,096 sales in January 2016.The benchmark price of an apartment property is $512,300. This represents a 0.3 per cent increase over the last six months and a 0.4 per cent increase compared to December 2016.

 

Attached property sales in January 2017 totalled 254, a decrease of 32.4 per cent compared to the 376 sales in January 2016. The benchmark price of an attached unit is $666,500. This represents a 0.4 per cent decline over the last six months and a 0.7 per cent increase compared to December 2016.

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A heated year for Metro Vancouver real estate draws to a close VANCOUVER, BC – January 4, 2017 –

 

The Metro Vancouver* housing market had its third highest selling year on record in 2016, behind only 2015 and 2005. Sales of detached, attached and apartment properties in the region reached 39,943 in 2016, a 5.6 per cent decrease from the 42,326 sales recorded in 2015, and a 20.6 per cent increase over the 33,116 residential sales in 2014.

 

“It was an eventful year for real estate in Metro Vancouver. Escalating prices caused by low supply and strong home buyer demand brought more attention to the market than ever before,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said.

 

“As prices rose in the first half of the year, public debate waged about what was fuelling demand and what should be done to stop it. This led to multiple government interventions into the market. The long-term effects of these actions won’t be fully understood for some time.” Residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver reached 57,596 in 2016. This is an increase of 0.6 per cent compared to the 57,249 properties listed in 2015 and a 2.6 per cent increase compared to the 56,066 properties listed in 2014.

 

 

The supply of homes for sale couldn't keep up with home buyer demand for much of 2016. This allowed home sellers to raise their asking price. It wasn’t until the last half of the year that prices began to show modest declines.

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