Market Update July 2018: Housing Supply Up While Demand Down Across Metro Vancouver

  • Housing Supply Up While Demand Down Across Metro Vancouver Summer is traditionally a quieter time of year in real estate, and this summer has been no different. July’s residential housing sales in Metro Vancouver* reached their lowest levels for that month since the year 2000, with sales down across the board between detached, townhouses and […]

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  • Supply of Homes for Sale in Metro Vancouver Reached a Three-Year High in June Home sale activity has dipped below long-term historical averages, leading to the supply of homes for sale in Metro Vancouver* to reach a three-year high in June. Last month’s sales were 28.7% below the 10-year June sales average. June 2018’s residential […]

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  • Last month residential property sales were down 35.1% from May 2017; 2,833 sold compared to the 4,364 on record from May 2017. While it is a 9.8% increase from April 2018, total sales were still 19.3% below the 1–year May sales average for Metro Vancouver’s real estate housing market. “With fewer homes selling today compared to […]

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  • Residential property sales in the Metro Vancouver real estate market totalled 2,579 last month. While sales increased by 2.5% from March this year, it’s a 27.4% decrease from April 2017 and 22.5% below the 10-year average for the month. The Real Estate Board of Greater Vancouver credits fewer home buyers and more home sellers for […]

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  • Upward pressure on real estate prices continues as fewer homes are listed for sale in the quietest March since 2009, continuing to drive activity particularly in the condo and attached home market while total sales were 23% below historical averages. A total of 6,542 homes of the 12,469 listed sold in the first quarter of […]

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  • Home sales in Metro Vancouver dipped last month below the long-term historical average for February. Residential property sales totalled 2,207; a 9% decrease from February 2017 and 14.4% below the 10-year sales average for the month. Sales still, however, increased 21.4% from January this year. “Rising interest rates and stricter mortgage requirements have reduced home […]

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  • “Demand remains elevated and listings scarce in the attached and apartment markets across Metro Vancouver,” Real Estate Board of Vancouver president, Jill Oudil, remarked on the numbers that categorized the first month of 2018. Residential home sales were 7.1% above the 10-year average for January. While by property type, detached sales were 24.8% down from […]

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  • While listings and sales in December were lower than November, the month’s sales were still 7.5% above the 10-year average. There were 1,891 new homes listed for sale in December 2017, a 44.1% increase from December the previous year, and sales totalled 2,016; that’s a 17.6% increase from December 2016.   “As we move into […]

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  • Steady sales and diminished listings were the top characteristics that defined Vancouver’s real estate market in 2017. Metro Vancouver home sales returned to more historically normal levels after record highs the previous two years, while new home listings dropped by several thousand below usual activity. In fact, 2017’s total listings were 4.4% below the 10-year […]

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  •   The steady demand for townhomes and condos continues to drive homebuyer activity in Vancouver, pushing sales to 17% above the 10-year average for November. But while demand is high as ever, Real Estate Board of Greater Vancouver president, Jill Oudil states “We have a long way to go before our home listing inventory rises […]

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