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…
The Real Estate Board of Greater Vancouver just released a report saying….. “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…
The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales in the region (Metro Vancouver) totalled 26,249 in 2023, a 10.3 per cent decrease from the 29,261 sales recorded in 2022, and a 41.5 per cent decrease from the 44,884 sales in 2021. Last year’s sales total was 23.4 per cent below the…
Just released board stats show North Vancouver November home sales numbers strongest in the Lynn Valley, Boulevard and Upper Lonsdale neighborhoods, condo’s in Lower and Central Lonsdale areas and for townhomes, the Lynn Valley, Central and Lower Lonsdale neighborhoods. All property types sales-to-active ratio have been pretty much in Seller Market territory year-to-date. Below find…
Our local real estate board reports ‘balanced conditions come to the Metro Vancouver housing market for the holiday season’. With one month left in 2023, a steady increase in housing inventory is offering home buyers across Metro Vancouver among the largest selection to choose from since 2021. The Real Estate Board of Greater Vancouver (REBGV)…
The Real Estate Board of Greater Vancouver housing market remains resilient in the face of challenging economic conditions. Over the past few months, we’ve witnessed an increase in home values, amounting to $31,351 since June. This brings the average home price in Greater Vancouver to $1,301,970, marking a noteworthy year-over-year increase of $62,063. Among the…
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…
