How do we actually know what property values are doing at any given point in time? If you think about it for a second, it’s a tricky question to answer. To start, every property in the market isn’t trading hands on a microsecond basis like the stock market, and the long timelines between sales of…
Turning short-term rentals into homes for people is at the core of newly introduced B.C. legislation to regulate the rapidly expanding short-term rental market. “Anyone who’s looking for an affordable place to live knows how hard it is, and short-term rentals are making it even more challenging,” said Premier David Eby. “The number of short-term…
None of us have a foolproof crystal ball. If we did, we might all have bet on Sidney Crosby scoring the golden goal in 2014 and cashed out with some big bucks! When it comes to real estate markets and what we might see over the next few years, history can generally provide some great…
Royal LePage just released its National House Price Survey for the 3rd Quarter of 2023. For Greater Vancouver it reports the aggregate price of a home remained relatively flat year over year, increasing just 0.1 per cent to $1,251,900 in the third quarter of 2023. On a quarterly basis, however, the aggregate price of a…
If you own residential property and are not an excluded owner of the residential property, you must file a UHT2900 Underused Housing Tax Return and Election Form. This includes persons that have a corporation or a trust, including a bare trust arrangement or are a partner in a partnership which owns residential property in Canada.…
Searching for homes on Realtylink and Realtor.ca you may notice their list price may be different than the value assessed by BC Assessment (BCA). Both BCA assessors and REALTORS® calculate market value by analyzing sales of comparable homes within a local market, and look at factors that affect value such as size of home, view,…
If you’re thinking of making a move, one of the biggest questions you probably have right now: what’s happening with West Vancouver home prices? September MLS® House Price Index for detached homes was $3,281,800, up: +0.2% from August, +0.2% same month a year ago, +17.8% 3 years and +12% from 5 years ago. Glance through…
Are you thinking of making a move? Let the following data from our real estate board help you with your decision making. September saw North Vancouver detached homes, condos and townhome sales increase +6%, +47.4% and +40% respectively, compared to same time last year. One-year change re MLS® HPI Benchmark Price improved +8.5%, +4% and…
Our local real estate board reports month-over-month price gains seen earlier this year abated in the Metro Vancouver housing market in September due to a seasonal decline in sales and a modest increase in inventory levels across the region. Sales The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales2 in the…
In West Vancouver, there was 14.8 months of inventory (MOI). This represents a buyer’s market based on MOI. Last month there was 13 months of inventory. The sales to new listings percentage was 17%, which represents a buyer’s market. In North Vancouver, there was 4.9 months of inventory. This represents a balanced market based on…
