Our real estate boards new Director of Economics and Data Analytics when asked ‘In your opinion, what economic indicators are the most telling about what’s happening in the real estate market?’ Andrews Lis replied: “I think most people would focus on average (or median) prices and sales volumes. We certainly see lots of discussion about…
With interest rates and housing supply increasing North Vancouver home buyers are operating in a changing market place. Let’s take a closer look! MLS® stats show North Vancouver had 174 home* sales in July 2022. This is a -30% decrease from this time last year (YOY) and is -20% below North Vancouver’s 10 year monthly…
Royal Lepage just released a ‘House Price Update and Market Report‘. It includes price data and insights from experts in 62 real estate markets across the country, as well as national and regional forecasts. Key highlights from the release include: • Royal LePage reduces national home price forecast to +5.0% in fourth quarter of 2022;…
In North Vancouver sales numbers for most property types were down in June compared to same month last year and from May 2022. Detached homes sale totals were down -47.5% from same month last year and -21.25% from May 2022, apartments -28.1% and -37.01% respectively. NV townhomes June sale activity was down -32.2% from June…
With interest rates and housing supply increasing, Metro Vancouver home buyers are operating in a changing marketplace to begin the summer season. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 2,444 in June 2022, a 35 per cent decrease from the 3,762 sales recorded in June…
After reaching record setting levels for many North Shore property types, last year home sale activity has returned to more typical, seasonal levels this Spring due in large part to rising interest rates. On the North Shore, REALTOR®s registered 287 North Vancouver and 69 West Vancouver home sales on MLS® in May. This is a…
May was again a seller’s market for North Vancouver homes, apartments and townhomes. Seller’s market conditions have held since June 2020 for NV homes, September 2020 for apartments and May 2020 for townhomes.! Seller’s market A seller’s market is when there are more people looking to buy then there are homes available. This causes…
After reaching record-setting levels in 2021, home sale activity has returned to more typical seasonal levels in Metro Vancouver* this spring due, in large part, to rising interest rates. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 2,918 in May 2022, a 31.6 per cent decrease…
Deciding on what home improvements yield the greatest return on investment can be daunting. According to a recent survey, kitchen renovation is the most worthwhile home improvement project and next is a bathroom renovation. If you might be looking for general guidance on what to home improvements to invest in, check out the great visual…
Home buyer demand in Metro Vancouver* returned to more historically typical levels in April. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 3,232 in April 2022, a 34.1 per cent decrease from the 4,908 sales recorded in April 2021, and a 25.6 per cent decrease from…
