B.C. Assessment Authority has updated its website for assessments of over two million B.C. properties! Go to bcasssessment.ca and search under the address to check out your home’s 2023 property assessment reflecting July 1, 2022 values. Assessor Bryan Murao says ‘Since July 1, we know that the real estate market has changed as interest…
In North Vancouver, for all property types, the sales-to-active listings ratio (SAR) for November is 28%. By property type, the ratio is 29% for detached homes, 14% for townhomes, and 33% for apartments. Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period,…
Our real estate board reports that a total of 128 North Vancouver residential property sales were recorded by the Multiple Listing Service® (MLS®) in September 2022, a decrease of -44% from September 2021. The MLS® residential property House Price Index (HPI) was $1,320,400, +1.5% increase from $1,301, 200 recorded in same month last year. September…
Stats recently released by our real estate board show West Vancouver is in a different market than earlier this year. Residential property sales decreased -41% from same time last year and down -41% from the 10 year monthly sale average. We’re likely in this market because interest rates have more than doubled since the…
The root issue that drives housing prices almost always is supply and demand. Several factors influence supply and demand such as mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies. Check out the supply and demand trend for West Vancouver‘s apartments:
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…
