As 2022 unfolds, North Vancouver continues to experience persistently low inventory numbers and rising prices for all property types. The trend of seller market conditions has been holding on since the Fall 2021 for NV homes, apartments and townhomes! Seller’s market A seller’s market is when there are more people looking to buy then…
West Vancouver strata listings remain stubbornly low in the early part of 2022 in contrast to detached homes. January and February apartment inventory was down -65.3% and -60.2% from the same month in 2021, townhomes -70.8% and -36.4% and detached homes down -12.7% and -1.2%. The real goods….. Both WV detached homes and apartment…
Sales at the beginning of 2022 remained elevated and new listings are entering the market at more typical levels. Going forward, we expect sales to pull back and price growth to remain elevated. Our real estate board Economist assesses Metro Vancouver’s house market activity over the first quarter of 2022 and projects what home…
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 totaled 3,424 in February 2022, an 8.1 per cent decrease from the 3,727 sales recorded in…
John Jennings just released his monthly ‘North Shore Real Estate Update’ reporting February was a good month in both North and West Vancouver! If you have any questions about the market, please feel free to ask: 604-790-1900 and or [email protected] NORTH SHORE MARKET: DETACHED HOMES FEBRUARY 2022 Prepared by: JohnJennings.com
At the start of the pandemic, the Bank of Canada drastically cut Canadian interest rates from 1.75% to 0.25% (March 2020). Today, the Bank hiked the rate by a quarter-point bringing the overnight target rate to 0.50%. The Bank said today, “interest rates will need to rise further”. For more details click here for…
BC owners of strata property in buildings with rental restrictions are no longer exempt from the BC Speculation and Vacancy Tax (SVT) as of January 1, 2022. This exemption, which ends December 31, 2021, applied to strata property owners who: were banned from renting units due to a rental restriction in place on or before…
West Vancouver January house and condo sale activity one year change was up +13.8% and +18.2 respectively. The one year change for the MLS® HPI Benchmark Price increased +11.3% for detached WV properties and +7.2% for condos. Our board stats show that 67% of January house sales was in the $2,000,000 to $3,999,999 range and…
Despite low residential sale numbers for all North Vancouver property types the MLS® HPI Benchmark price edged up! Our board stats shows house sale activity was down -21.3% from the same month last year and many of the 37 January house sales took place in the following neighborhoods: 5 – Edgemont 4 – Canyon Heights…
Can you believe it’s already February? If you are thinking of selling your home, traditionally the best time of year to sell is February to June. As a result, now is a great time to get an update on your home value. I believe that selling or buying real estate should be a…
