Recent amendments to BC’s Residential Tenancy Act, RTA, affect landlords, as well as purchasers of tenanted properties! New rules around evictions require BC landlords looking to evict tenants for personal or caretaker use to use a new ‘Landlord Use Web Portal‘ website to create Notices to End Tenancy started July 18, 2024. The Landlord Use…
Metro Vancouver home sales registered on the MLS® remained below seasonal and historical averages in June. With reduced competition among buyers, inventory has continued to accumulate to levels not seen since the spring of 2019. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,418 in June 2024, a 19.1 per…
Detailed stats were released by our local board, Greater Vancouver Realtors® (GVR®) showing North Vancouver May home sales and active listing numbers were strongest in the $2mil to $2.999mil; 59% and 44% respectively. NV neighborhoods with the most active listings and sales numbers included Lynn Valley, Boulevard & Upper Lonsdale house market, Lower & Central…
The number of transactions on the Multiple Listing Service® (MLS®) declined in May compared to what is typical for this time of year in Metro Vancouver. This shift has allowed the inventory of homes available for sale to continue to accumulate with over 13,000 homes now actively listed on the MLS® in the region. The…
First introduced in 1987, British Columbia’s Property Transfer Tax, (PTT), is a land registration tax paid by a property buyer or owner when a property title is registered at the Land Title and Survey Authority (LTSA). The PTT is based on the fair market value of the property being transferred whether or not money changes…
Timing can influence your home’s selling price. Market conditions also vary by neighbourhood and housing type. Our local real estate board, Greater Vancouver Realtors (GVR) monthly housing market report summarizes the latest home sale, listing, and price trends. Keeping an eye on market conditions helps you understand the ebb and flow real estate prices. For…
In West Vancouver, there was 10.3 months of inventory (MOI). This represents a buyer’s market based on MOI. Last month there was 10.4 months of inventory. The sales to new listings percentage was 21%, which represents a buyer’s market. In North Vancouver, there was 3.6 months of inventory. This represents a seller’s market based on…
Confused about wat the new B.C. home flipping tax taking effect January 1, 2025 means to you, a Buyer? The BC home flipping tax webpage is your best source of information, and you can subscribe to the page to be notified about updates! Here are some scenarios for the tax that may help. Remember, the…
The Greater Vancouver real estate market in April witnessed a surge in new listings, with 11,800 properties available for sale. This represents the highest amount of available inventory in Greater Vancouver since May 2021, a welcome respite for buyers who have long grappled with inventory scarcity in the preceding years. April saw a strong 17%…
Actively listed homes for sale on the MLS® in Metro Vancouver1 continued climbing in April, up 42 per cent year-over-year, breaching the 12,000 mark, a number not seen in the region since the summer of 2020. Sales Greater Vancouver REALTORS® (GVR)2 reports that residential sales3 in the region totalled 2,831 in April 2024, a 3.3…
