As the first quarter of 2023 draws to a close, Greater Vancouver’s real estate market has continued to rally, with aggregate home values soaring to an average sales price of $1,269,098. The largest gain was observed in the detached market, where the average price surged to $2,175,092, marking a significant 14% increase or a gain…
The Real Estate Board of Greater Vancouver (REBGV) February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards. The REBGV reports that…
Is being close to water such as an ocean, river, stream or lake, a benefit or a liability? It depends on whether the area has a floodplain map and if the area has ever had a flood, according to research from Ebbwater Consulting, The Impact of Flood Hazard on Real Estate Values. Decrease in…
Residential real estate has a seasonality to it. The number of homes sold in the spring is almost always much greater than at any other time of the year. West Vancouver residential property sales totaled 27 in January 2023, a 41.2% decrease from the 46 sales recorded in January 2022, and a 30.77% decrease from…
Selling your house over the next few weeks might give you the best chance to be in front of buyers competing for homes while the number of properties for sale is still low! North Vancouver January residential inventory was down -46.48% from the 10-year January inventory average. JANUARY NV RESIDENTIAL INVENTORY NUMBERS PAST TEN…
The current housing market in Greater Vancouver presents a timely opportunity for astute buyers. As interest rates have risen over the past year, the average home price has experienced downward pressure, leading to a decrease in the average cost of housing and the potential to build equity in the longer term for those willing to…
Inventory remains low in Metro Vancouver while home sales dipped well below monthly historical averages in January. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,022 in January 2023, a 55.3 per cent decrease from the 2,285 sales recorded in January 2022, and a 21.1…
Our board just just released its first 2023 residential market forecast report. The Real Estate Board of Greater Vancouver (RBGV) is saying: ‘Home sales in 2023 will remain in line with last year while prices may see small increases.’ The RBGV forecast looks at current and historical market trends alongside economic factors like…
RBC Monthly Housing Market Update reports Canada’s housing market inches closer to a cyclical bottom. ‘Home resales are now gradually stabilizing in most parts of the country after plunging through the spring and summer amid soaring interest rates. Nationwide activity even picked up slightly on a month-to-month basis for the second time in three…
Metro Vancouver* housing market experienced a year of caution in 2022. Due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation. REALTOR®’S registered 28,903 home sales on MLS® in 2022. A 34% decrease over 2021 and 13% below the 10-year average. Sellers listed 53,865 on the MLS® in 2022. A…
