One month into 2021 Metro Vancouver’s housing market continues to follow the pattern set at the end of last year with home sale activity outpacing the supply of homes for sale. A closer look shows REALTOR®’s registered 2,389 home sales on MLS® in January. That’s a +52.1% increase over this time last year and is…
How did the Canadian housing market fare in 2020 with pandemic lockdowns? The Canadian Real Estate Association (CREA) was just released an infographic to show the year in review:
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. West Vancouver sales-to-active listings ratio (SAR) for January 2020 was 8.5% for detached homes, 12.1% for condo’s and…
North Vancouver home sales totaled 47 in January 2021, a +95.8% increase from the 24 sales recorded in January 2020, and a -41.25% decreased from the 80 homes sold in December 2020. Last month’s home sales were on par with the 10 year January sales average. More real estate numbers follow showing January market activity…
In West Vancouver, there were 29 sales in the month of January. The sales to new listings ratio was 21% which represents a buyer’s market. For January 2021, the sales to total active listings percentage was 9%, an increase from 6% in January 2020. Sales for January 2021 were up by 8 units compared to…
In the first month of 2021, Metro Vancouver’s* housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale. Areas included in Metro Vancouver are: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta,…
Despite the unusual year, North Vancouver 2020 year end home sale totals elevated for the second consecutive year and up +22% from last year. Throughout the year house inventory was pretty much below North Vancouver’s 10 year monthly inventory average and latter half of the year, NV months of inventory trended below the 10 year…
Helpful Advice: Get the basic knowledge you need before buying a home, plus useful advice to guide you throughout the process. Find it all here. Home listings on the Internet: Visit REALTOR.ca to view the latest home listings on whatever computer or device you’re using. Home listings app for your phone: Add our REALTOR.ca app…
West Vancouver house sales increased for the second consecutive year and up +28% from last year despite the pandemic. Throughout 2020 WV monthly inventory was below the 10 year monthly average and since May the Months of Inventory trended below the 10 year monthly MOI resulting in West Vancouver’s House Price Index edging ever-to-slightly up!…
Our local real estate board just created this great visual, a year-in-review infographic that tells the story of 2020 real estate housing market with images, icons, and statistics. Real Estate Board of Greater Vancouver areas includes: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine…
Many local governments in Greater Vancouver have a bylaw or policy addressing tree removal, retention, pruning and damage on private property. This matrix is an overview. Note: Bowen Island, North Vancouver City, Pemberton, Pitt Meadows, Squamish-Lillooet Regional District and the Gulf Islands do not have a tree bylaw or policy for private land. However, if…
Helpful Advice: Get the basic knowledge you need before selling your home, plus useful advice to guide you throughout the process. Home listings on the Internet: Find out at what price comparable houses in your area are listed. Visit REALTOR.ca to view the latest home listings on whatever computer or device you’re using. Home listings…
In communities where the speculation and vacancy tax (SVT) applies residential property owners will soon receive their declaration package and can complete it online at: https://gov.bc.ca/spectax All owners on the title, including spouses and relatives, must complete a declaration to claim an exemption or determine eligibility for a tax credit. Corporations must also complete a declaration…
Strong December activity brought Metro Vancouver’s annual home sales totals in line with the regions long term average. That however, only tells part of the story for 2020. Taking a closer look REALTORS® registered 30,944 homes on MLS® in 2020. That’s a +22% increase from 2019, and about -2.8% below the 10 year average. As…
BC property owners started receiving their 2021 assessment notices the first week of January, a valuation which reflects the market value as of July 1, 2020. Overall, assessments increased throughout Greater Vancouver for both detached and strata homes. For detached homes, Squamish and Vancouver led the way, each with a 10 per cent increase, followed…
In West Vancouver total December sale numbers for homes and condominiums improved from same month last year. Houses up +89.3%, Condos up +100.0% and, Townhomes 0.0%. Also up was the MLS® HPI Benchmark Price for most WV property types: Houses up +7.7%, Condos up +8.4% and, Townhomes —. Take a glance at WV December 2020…
North Vancouver December sale numbers popped up for all North Vancouver property types compared to the same month last year: Houses up +44.6%, Condos up +67.6% and, Townhomes +81.0%. In addition, the MLS® HPI Benchmark Price was up for all property types: Houses up +12.5%, Condos up +6.1% and, Townhomes up +9.2%. Find below a…
In West Vancouver, there were 53 sales in the month of December. The sales to new listings ratio was 120% which represents a strong seller’s market. For December 2020, the sales to total active listings percentage was 18%, an increase from 8% in December 2019. Sales for December 2020 were up by 25 units compared to December…
Our local real estate board reports strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average. The Real Estate Board of Greater Vancouver (REBGV) stats show that residential home sales in the region totaled 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded…
Realtylink.org was created by the Real Estate Board of Greater Vancouver (REBGV) in 2019. The board says the site “provides a more modern online experience with enhanced search and filtering capabilities. Visitors can create a profile and save their searches and favorite listings. Search results can be organized in a map, gallery or list-based view.”…
For Canada’s housing market, 2020 was a year like no other. The onset of the COVID-19 pandemic in March pushed markets across the country off course, resulting in record-low spring sales followed by a swift post-lockdown recovery that remains in motion. As we approach the new year, now’s the time to consider how the ripple…
Hitting a new sales record and an all-time inventory low, November was yet another record-breaking month—bringing 2020 close to a record-breaking year! Take a glance at November’s stats across Canada:
A fundamental shift in real estate as a result of the COVID-19 pandemic is REALTORS® fully leveraging technology to ensure the real estate processes remain safe and transactions can continue to take place. It is now easier than ever to to get a good feel of a home before ever setting foot within the property…
In light of new public health orders by the Provincial Health Officer on November 19, our REALTOR® association, BCREA, encourages REALTORS® to continue COVID-19 conscious business practices, which includes using virtual tools when possible, to market, show and view properties to help slow the spread of COVID-19. The following are a couple of sample showing…
Housing demand in Metro Vancouver continues to outpace historical averages with November sales eclipsing 3,000 for the first time since 2015. REALTOR®’s registered 3,064 homes sales on the MLS in November. That’s an increase of +23% over this time last year and is 25% above the 10 year for the month. On the listing side…
In West Vancouver total November sale numbers for homes and condominiums improved from same month last year: Houses up +19.2%, Condos up +66.7% and, Townhomes -50.0%. Also up was the MLS® HPI Benchmark Price for most WV property types: Houses up +7.7%, Condos up +6.8% and, Townhomes —. An essential factor in understanding home price…
In North Vancouver total November sale numbers increased for most North Vancouver property types from November 2019: Houses up +20.5%, Condos up +28% and, Townhomes 0.0%. The MLS® HPI Benchmark Price was up for all property types: Houses up +11.6%, Condos up +7.3% and, Townhomes up 10.1%. The supply of property types are a critical…
In West Vancouver, there were 62 sales in the month of November. The sales to new listings ratio was 84% which represents a strong seller’s market. For November 2020, the sales to total active listings percentage was 17%, an increase from 12% in November 2019. Sales for November 2020 were up by 10 units compared…
Our local real estate board reports ‘November home sales outpace seasonal norms and long-term averages Housing demand in Metro Vancouver continues to outpace historical averages with November sales eclipsing 3,000 for the first time since 2015.’ Residential home sales in the region totaled 3,064 in November 2020, a 22.7 per cent increase from the 2,498…
The Land Owner Transparency Act1 (LOTA) came into effect on November 30, 2020, and with it, the Land Owner Transparency Registry (LOTR). Now, with every change in title to a property in British Columbia, a transparency declaration must be filed with the Land Title and Survey Authority of British Columbia (LTSA). Individuals acquiring an interest…
In its simplest form, title insurance protects the lender and homeowner against a number of risks related to the property’s title or ownership. What started years ago as a replacement for a survey certificate has now become standard on real estate purchase or refinance transactions. If you are buying or refinancing your home, expect title…
Our local real estate board just released the month stats package and reporting ‘Home sale and new listing activity reached record levels in Metro Vancouver in September. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the…
Our local real estate board reports Metro Vancouver home buyers and sellers remained active in August with home selling new listing activity outpacing the regions historical averages. Let’s take a closer look. People who put their home buying and selling plans on hold in the Spring have been returning to the market throughout the summer. REALTOR’s registered…
Before a buyer even steps through your front door, you’ve created a first impression. Keeping the outside of your home clean and tidy improves your home’s curb appeal and will make a difference when you’re looking to sell. Here’s six ways you can make your home look great and improve its resale value without spending…
Real estate market activity in Metro Vancouver exceeded historical levels in July. Metro Vancouver includes: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler. Over 3,100 home sales were registered by REALTORS in July. This is up +28% from last month…
Helpful Advice: Get the basic knowledge you need before buying a home, plus useful advice to guide you throughout the process. Find it all here. Home Listings on the Internet: Visit REALTOR.ca to view the latest home listings on whatever computer or device you’re using. Home listings app for your phone: Add our REALTOR.ca app to your phone to give…
Helpful Advice: Get the basic knowledge you need before selling your home, plus useful advice to guide you throughout the process. Home listings on the Internet: Find out at what price comparable houses in your area are listed. Visit REALTOR.ca to view the latest home listings on whatever computer or device you’re using. Home listings app for…
Introduced earlier this summer, the Canadian Mortgage and Housing Corporation (CMHC) implemented new underwriting criteria (eligibility requirements) to apply for homeowner transactional and portfolio mortgage insurance. These new adjustments from CMHC come as a precaution while the COVID-19 pandemic continues to impact consumers in the real estate market and many other aspects of day-to-day life. The following changes have…
Our local real estate board is reporting Metro Vancouver’s housing market activity is returning to historical levels as home buyers and sellers are becoming more comfortable with public health safety protocols. Real estate boards and associations across the province, in step with the Real Estate Council of BC, who regulates the practice of real estate…
May was one of those “on the one hand … on the other hand” kind of months for housing data in Canada. On the one hand, both sales and new listings were up on a seasonally adjusted basis in May compared to April—57% for sales and 69% for new listings—huge percentage increases, albeit from a…
The old real estate adage tells us that the 3 most important things to look for in a property are “location, location, location”. According CMHC recent survey, for the majority of Canadians who bought a home over the past year, the most important factors affecting their decision were price and affordability. When asked to name their…
The uncertainty of the covid situation has limited April listing and sale activity. You might be thinking how much is listing and sale activity compared to from last year or last month? We know home prices are driven by supply and demand. You may be questioning where are home prices if supply and demand are…
This February saw strong home buyer demand! Learn more in the video below how much demand has improved year-over year in February, how home sales struggled to keep pace, what the sales-to-active listings ratio is suggesting re type of market if sustained for a period of time, and the trend of prices.
Home sale and price activity remain steady in Metro Vancouver to start 2020 while home listing activity declined in January. Realtors registered 1,571 sales on our regions MLS in January. This is +42% above last year’s January total and about -7% below our 10 year average for the month. Looking at supply we are seeing few homes…
BC Assessment just released its 2020 assessments. The provincial agency appraises all properties, almost two million province wide on an annual basis. The assessment is an estimate of a property’s market value as of July 1, 2019 and physical condition as of October 31, 2019. BC Assessment said changes in property value reflect movement in the…
If you’re planning to buy a strata property and you have furry or feathered friends, find out whether pets are allowed and if there are restrictions. Under the Strata Property Act and Regulation, strata corporations can restrict owners and tenants from keeping pets or certain kinds of pets through the bylaws of the strata corporation. Pet…
