RSS

Posted on by
Vancouver Real Estate – Monthly Market Update – Infographic – December 2024
Momentum. I think that's the key word to describe the Vancouver real estate market as 2024 wraps up.

For the last couple of years we've seen a lot of sideways movement. A few months in one direction and then a few in another...but ultimately, we've stayed pretty flat since hitting all-time highs in the Spring of 2022.

Most of 2024 was marked by a decided lack of enthusiasm and confidence in the market. While demand didn't fall off a cliff it bounced along the lower end of historical norms (typically about 20-30% below the 10-year averages).

What was different in 2024 was that we finally saw supply increase significantly. Back in 2023 (a year also marked by low demand but also low inventory) prognosticators predicted that IF supply increased significantly then prices would start to fall in Vancouver...that being the obvious basic economic principle of supply and demand.

However, that just didn't happen in 2024. Prices remained remarkably resilient (something that I get more into in my video...
Read

Posted on by
 
If you are planning on moving to Vancouver these are 9 things that you must know.

Don't plan your move to Vancouver before watching this video! After living in Vancouver for nearly 50 years I've seen people make a lot of mistakes. I've made a few of them myself.

If you want to avoid making a bad decision, watch this video so you get a full understanding of what it's REALLY like to live in Vancouver.
Read

Posted on by
Vancouver Real Estate – Monthly Market Update – Infographic – November 2024
After demand jumped in October, November didn't continue that trend. 

Sales fell month-to-month (-13.2%) but rose (+33%) compared to a year ago. More significantly, the number of sales last month was -9% below the 10-year average....continuing our trend this year of below-average demand, but starting to see that demand consilidate now towards the end of the year.

New listings fell for a second month in a row (-31% month-to-month and +10% year-to-year). This was +7% above the 10-year average. Total active listings meanwhile dropped from last month (-9.8%) but despite that drop, supply is still well above the 10-year average (+24.9%).

Prices continue to fluctuate. All housing types in Vancouver find themselves either flat or more expensive than a year ago...except for Westside houses (-2.3%). Over the last couple of years prices have bounced around a bit but are still hanging right around all-time highs...despite weakness in demand (and higher than usual supply).

I don't like to predict the...
Read

Posted on by
 
These Vancouver areas are BOOMING in Value [Here’s Why] – In this video I’m taking a deep look into the Vancouver real estate market and exploring the markets that are experiencing the most growth in property values (in the last 12 months).

Come along with me as I explore these booming neighborhoods and explain why this is happening. But I’m not going to stop at just talking about these areas, I also spent countless hours walking these incredible neighborhoods so that you can get an idea of what it’s like to live there.

If you are moving to Vancouver, already living in Vancouver and are a potential Vancouver homebuyer or investor then you’re in the right place. This video will help you understand some of the hottest Vancouver neighborhoods and suburbs and why you might want to move to and live in them.

I spent hours digging through real estate stats to bring you this information. If you’re just paying attention to the headlines, you’d...
Read

Posted on by

Vancouver Real Estate – Monthly Market Update – Infographic – October 2024

The big headline this past month is that the market appears to be back.

Sales popped rising +44% over the previous month to 752 in October (and +30% from a year ago). This was rather unexpected...as our market has seen demand stagnate for what seems like forever. While we've had a couple of months here and there were Sales surged a bit, it was never this dramatic. And, if anything, demand had really slid in the last few months of the summer and into the fall (just as the first two interest rate cuts hit).

At this point, Sales are just -3% below the 10-yr average...and I think that's an important point. It means that current demand levels (or at least in October) were right about average. That surge just brought us back to where we SHOULD be. It just looks hot in comparison to how slow demand has been in the last year or so.

But what about the rest of the market?

Well, New Listings dropped to 1,727. Down (-16%) from September but about +11% from a year ago and still above (+18%) the ten year...

Read

Posted on by
 
Mistakes to Avoid When Buying a Vancouver Townhouse!

Townhouses in Vancouver are highly sought after. If you live in Vancouver and you are thinking of buying a home, you are probably considering buying a Vancouver townhouse.

Townhouses are the ideal middle ground between living in a condo and buying a house. For many, they are a relatively affordable option that offers so many of the benefits of living in a house (like your own front door, outdoor space and a garage) but without the much heftier price range.

However, so many people buy townhouses in Vancouver without fully understanding what they are doing.

Over my career, I’ve seen it all…and I’ve seen people make some very costly mistakes. That’s why I made this video.

I want to help YOU avoid making these HUGE mistakes when you buy a Vancouver townhouse.

Read

Posted on by
Vancouver Real Estate – Monthly Market Update – Infographic – August 2024

Long story short, August was another slow month in Vancouver's real estate market. All activity slowed further as we progressed through the summer of 2024 (as I predicted).

Sales fell to 531 which was down significantly (-22%) from the 682 sales that happened in Vancouver in July....and coincidentally that's about the same difference (-22%) with sales a year ago. After trending more positively in the spring we are hoverinig now close to 30% below (-28.5%) the ten year average.

It appears that sellers have mostly received the markets message in the last couple months. In August we saw new listings taper off considerably to just 1,211 new listings for the month. This was down -30% from July, -16% from a year ago, and -4% from the 10 year average.

With fewer listings coming to market our overall listing inventory took the sharpest drop we've seen all year to 4,215. This was a decline of -8.4% from the previous month but +22% over the previous year (and +19.4% higher than the 10 year average)....

Read

Posted on by


Buying a Vancouver condo is incredibly complicated.

Many buyers don’t realize that it’s much more complicated and fraught with pitfalls to buy a condo in Vancouver than a (potentially) much more expensive house in Vancouver.

This is the SECOND VIDEO in a series of videos I’ve made about the mistakes you’ll want to avoid when buying a Vancouver condo.

In my nearly 20 year career as a Vancouver realtor I’ve seen it all…and I’ve spent my career helping my clients avoid these (and other) mistakes so that they can make the best possible decisions when buying Vancouver condos.

If you are moving to Vancouver, or already living in Vancouver, then this is a video you won’t want to miss. After all, the likelihood is that if you are buying a home in Vancouver it won’t be a house!

Avoiding these mistakes when buying a Vancouver condo will save you time, energy and most importanly...MONEY!


Read

Posted on by

Newly listed properties rose nearly +13% in July 2024 from a year ago. This was -5.6% from the previous month but well over the 10-year average of 1,520 (+13.9%) which continued to support healthy levels of inventory in the Vancouver real estate market.

Total inventory was up +25.1% over the past year to 4,490. While this was also well above the 10-year average of 3,629 (+23,7%) it was actually a decline of -2.4% from the previous month' peak.

Meanwhile, on the demand side we saw sales slip in July to 682. This was a -5.7% decline from a year ago, a -7.7% drop from the previous month and -20.9% below the 10-year average.

Despite the second straight interest rate cut by the Bank of Canada, demand continues to be soft. This isn't entirely surprising given the time of year...but the elevated inventory levels and weaker demand is finally having an impact on prices.

For the first time, we saw prices drop across the board for all housing types. The most significant decline was for Townhouses on...

Read

Posted on by

Condos in Vancouver are a hot topic.

If you are considering buying real estate in Vancouver…whether it’s your first home, you are moving to Vancouver for the first time or buying as an investment…it’s more than likely going to be a condo.

(if not, be sure to check out my other videos about buying other types of property in Vancouver - https://www.youtube.com/playlist?list=PL9gRIaRTT0DStk3oqE_-C10zIlnSG4B1V)

And while the price point for condos might be lower than for detached houses, you are still looking at spending some very serious money…and you don’t want to make a mistake!

Over my career, I’ve seen and heard about countless mistakes when it comes to owning Vancouver condos. And so I made this video to help you avoid these mistakes, too!

I've packed this video full of critical information that's going to save you from making disastrous mistakes when buying a Vancouver condo and that will SAVE YOU MONEY!

Read
Newer posts : page 3 Older posts : page 5
Categories:   Weekly Vancouver Real Estate Update
Powered by myRealPage.com
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.