Metro Vancouver housing market holds steady in October. An increase in newly listed properties is providing more choice to home buyers across Metro Vancouver, but sales remain below long-term averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales in the region totaled 1,996 in October 2023, a 3.7 per cent increase…
How do we actually know what property values are doing at any given point in time? If you think about it for a second, it’s a tricky question to answer. To start, every property in the market isn’t trading hands on a microsecond basis like the stock market, and the long timelines between sales of…
Turning short-term rentals into homes for people is at the core of newly introduced B.C. legislation to regulate the rapidly expanding short-term rental market. “Anyone who’s looking for an affordable place to live knows how hard it is, and short-term rentals are making it even more challenging,” said Premier David Eby. “The number of short-term…
Royal LePage just released its National House Price Survey for the 3rd Quarter of 2023. For Greater Vancouver it reports the aggregate price of a home remained relatively flat year over year, increasing just 0.1 per cent to $1,251,900 in the third quarter of 2023. On a quarterly basis, however, the aggregate price of a…
Searching for homes on Realtylink and Realtor.ca you may notice their list price may be different than the value assessed by BC Assessment (BCA). Both BCA assessors and REALTORS® calculate market value by analyzing sales of comparable homes within a local market, and look at factors that affect value such as size of home, view,…
Are you thinking of making a move? Let the following data from our real estate board help you with your decision making. September saw North Vancouver detached homes, condos and townhome sales increase +6%, +47.4% and +40% respectively, compared to same time last year. One-year change re MLS® HPI Benchmark Price improved +8.5%, +4% and…
Our local real estate board reports month-over-month price gains seen earlier this year abated in the Metro Vancouver housing market in September due to a seasonal decline in sales and a modest increase in inventory levels across the region. Sales The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales2 in the…
In West Vancouver, there was 14.8 months of inventory (MOI). This represents a buyer’s market based on MOI. Last month there was 13 months of inventory. The sales to new listings percentage was 17%, which represents a buyer’s market. In North Vancouver, there was 4.9 months of inventory. This represents a balanced market based on…
The key points in the following read include: Interest and fees increase the amount owed for property tax deferment. Seniors (55+), surviving spouses, persons with disabilities, and families with children are eligible for deferment. Interest rates vary by program, and interest is calculated using simple interest on the deferred amount, with no compounding. If you…
The B.C. government plans to incentivize homeowners to build secondary suites on their property with a new three-year pilot program. The Secondary Suite Incentive Program will help homeowners create affordable housing in their communities. The program will provide money to help homeowners create a new secondary suite on their property to be rented out for…
