Property-Specific Demand Continues to Drive Vancouver Real Estate

  • “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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  • 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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  • Townhomes and Apartments Push October Real Estate Sales to Historical Numbers Last month’s sales exceeded historical averages for October by 15%. A total of 3,022 residential property sales were made, which is a whopping 35.3% increase from October 2016, and 7.1% from September 2017. Real Estate Board of Greater Vancouver president, Jill Oudil credits the […]

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  • A typical summer on the Vancouver Real Estate Market mean more listings and fewer home sales occurred in July. “Because home sale activity decreased to more historically normal levels in July, the selection of homes for sale in the region was able to edge above 9,000 for the first time this year,” said REBGV president, Jill […]

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  • Demand for condominiums in the Lower Mainland is far outstripping the supply. “Two distinct markets have emerged this summer. The detached home market has seen demand lease back to more typical levels while competition for condominiums is creating multiple offer scenarios and putting upward pressure on prices for that property type,” said Real Estate Board […]

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  • While the increase of new listings increased the most in the detached home segment of the market last month, it’s demand in the condominium and townhome that’s truly driving current activity. Here is your REBGV update for May.  “First-time buyers and people looking to downsize from their single-family homes are both competing for these two […]

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  • The Real Estate Board of Greater Vancouver’s April (REBGV) 2017 report proved yet again that attached homes are driving the market. While April sales were 4.8% above the 10-year average for the month, it was still a significant 25.7% decline from the same month last year, and a 0.7% decline from March 2017. “Our overall […]

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  • March was a big month for the Real Estate Board of Greater Vancouver, and the market at large: the REBGV instated its president for 2017/2018, Jill Oudil. Jill has served on the REBGV’s Board of Directors for the five years and works at Coldwell Banker Westburn Realty in Burnaby. The month also had the lowest […]

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  • Real Estate Board of Greater Vancouver president Dan Morrison cited bad weather and limited supply for the lower-than-average numbers last month. “February home sales were well below the record-breaking activity from one year ago and in line with our long-term historical average for the month,” Morrison said. “Limited supply and snowy weather were two factors […]

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  • 2017 is off to a quieter start than usual in the Metro Vancouver real estate market. January sales were 10.3% below the 10-year average for the month. Compared to 2016 which exploded onto the market with record-breaking sales, buyers and sellers appear to be exercising caution as we enter the new year. However, “Conditions within […]

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