What’s happening to North Vancouver house prices and where are they headed? We are asked these questions every day by clients trying to understand whether it’s a good time to buy or sell. The MLS® HPI is the best and purest way to gauge home price trends. It takes housing quality into account, such as…
The Greater Vancouver real estate market has maintained its upward trajectory with increased sale prices and burgeoning market activity throughout the initial quarter of 2024. Presently, the average property in Vancouver commands a price of $1,318,535, which represents yearly price growth of 3.9%. Since the year’s commencement, home values have surged by 6%, equating to…
In West Vancouver, there was 10.4 months of inventory (MOI). This represents a buyer’s market based on MOI. Last month there was 9.4 months of inventory. The sales to new listings percentage was 28%, which represents a buyer’s market. The first quarter of 2024 had 92 sales compared to the first quarter of 2023 which…
The number of Metro Vancouver*homes listed for sale on the MLS® rose nearly 23% year-over-year, providing more opportunity for buyers looking for a home this spring. The Greater Vancouver REALTORS® (GVR) reports that residential sales3 in the region totaled 2,415 in March 2024, a 4.7% decrease from the 2,535 sales recorded in March 2023. This…
Check out Royal LePage® recent ‘Million Dollar Property Report’. The new report examines what a budget of approximately $1 million – give or take $50,000 – can buy in Canada’s major housing markets! Highlights On average, a $1 million property in Canada has 3.2 bedrooms and 2.1 bathrooms, while a $2 million property has 3.7…
The real estate landscape in 2024 has started on a positive note, and industry experts predict a further acceleration in market conditions in the latter half of the year. This creates a timely opportunity for prospective homebuyers to make their move before the market potentially witnesses a resurgence of multiple offers and frenzied activity. As…
Strength of January 2024 market numbers has our local real estate board saying that their original 2024 forecast may be off! “It’s hard to believe that January sales figures came in so strong after such a quiet December, which saw many buyers and sellers delaying major decisions,” Andrew Lis, REBGV’s director of economics and data…
Economic forecast….. Under the hood, 2024 is poised to be a growth year for the residential market across the Real Estate Board of Greater Vancouver’s areas. Fundamental factors that drive our market, such as household formation, population growth, and employment growth remain fairly strong despite continued concerns of potentially slower economic growth ahead. With that…
Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up noticeably on a month-over-month basis in December 2023. Highlights: National home sales jumped 8.7% month-over-month in December. Actual (not seasonally adjusted) monthly activity came in 3.7% above December 2022. The number of newly listed properties dropped 5.1% month-over-month. The…
The British Columbia Real Estate Association (BCREA) just released their report that 73,109 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2023, a 9.2 per cent decline from 80,506 units sold in 2022. The annual average MLS® residential price in BC was $971,144, a 2.6 per cent decrease from $996,943 recorded…
