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 totalled 2,418 in June 2024, a 19.1 per…
New capital gains tax rules are in effect today June 25, 2024! These changes impact profits from selling assets like rental properties or stocks. What are the changes? The capital gains inclusion rate in Canada has risen from 50% to 66.7% for realized gains over $250,000 per year. To read more details click here.
Detailed stats were released by our local board, Greater Vancouver Realtors® (GVR®) showing North Vancouver May home sales and active listing numbers were strongest in the $2mil to $2.999mil; 59% and 44% respectively. NV neighborhoods with the most active listings and sales numbers included Lynn Valley, Boulevard & Upper Lonsdale house market, Lower & Central…
Our real estate board, GVR, just released West Vancouver May stats for residential properties. This includes detached homes, condos and townhomes! May homes sale totals were down -17.1% from the same month a year ago and inventory totals up +21.7%. The MLS® HPI Benchmark Price this May was $3,346,200, up +7.9% from May 2023’s $3,101,900.…
The number of transactions on the Multiple Listing Service® (MLS®) declined in May compared to what is typical for this time of year in Metro Vancouver. This shift has allowed the inventory of homes available for sale to continue to accumulate with over 13,000 homes now actively listed on the MLS® in the region. The…
Royal LePage just released its ‘2024 Most Affordable Canadian Cities‘ report. The report says half of residents in Canada’s largest urban centers are eyeing a move to more affordable real estate markets! The report highlights include: Thunder Bay tops the list of most affordable cities in Canada. Of the 15 most affordable cities in Canada,…
British Columbia’s Property Transfer Tax (PTT) is a land registration tax paid by a property buyer or owner when a property title is registered at the Land Title and Survey Authority (LTSA). The PTT is based on the fair market value of the property being transferred whether or not money changes hands, including transfers of…
Strata corporations can no longer indefinitely defer strata depreciation reports thanks to new provincial regulations that close a loophole in the Strata Property Act. The loophole had allowed strata corporations to indefinitely defer depreciation reports. As of July 1, 2024, existing strata corporations with five or more strata lots will be required to: obtain a…
Timing can influence your home’s selling price. Market conditions also vary by neighbourhood and housing type. Our local real estate board, Greater Vancouver Realtors (GVR) monthly housing market report summarizes the latest home sale, listing, and price trends. Keeping an eye on market conditions helps you understand the ebb and flow real estate prices. For…
In West Vancouver, there was 10.3 months of inventory (MOI). This represents a buyer’s market based on MOI. Last month there was 10.4 months of inventory. The sales to new listings percentage was 21%, which represents a buyer’s market. In North Vancouver, there was 3.6 months of inventory. This represents a seller’s market based on…
