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

This past month sales slipped and inventory levels continued to rise. It’s not unusual, that we see sales dip from May to June as the seasonally slower summer market takes hold. However, the dip this year was greater than normal…and overall inventory levels remain elevated (with prices remaining sticky to the upside).

Sales dropped to 739 (-11% month-to-month and -13.3% year-to-year). As mentioned above, this is a sharper decline in sales than is typical at this time of year ~8% has been the average decline over the last ten years)…and this is -18.2% below the 10-year average.

Meanwhile, New Listings also fell to 1,824 (-10.5% m-to-m and +6.7% y-to-y) up +7.2% over the 10-year average. This resulted in Total Active Listings essentially remaining flat at 4433 (-0.6% m-to-m and +29.9% y-to-y) which was +23.9% over the 10-year average.

The Greater Vancouver Realtors pointed out that inventory levels throughout our region haven’t been this high since 2019. What they...

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Tour of a Multi-Million Dollar Vancouver Mansion [Living in Vancouver]

Check out one of my latest listing in Vancouver!

This classic Vancouver character house is nearly 100 years old…and it shows. Very little has been updated since it was originally constructed. Yet, how much this house is worth may shock you.

In this video I tour you through all 3,500 sf of this house…and I’m going to let you guess how much it’s worth.

We’ll discuss why it’s so special and what lessons we can pull from this house about Vancouver’s real estate market.

If you already live in Vancouver or if you are thinking about moving to Vancouver then this video will be invaluable to you!

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Vancouver Real Estate – Monthly Market Update – Infographic – April 2024
The big headline from the GVR is that overall listing inventory reached heights not seen since the summer of 2020...when our market was deep in the doldrums of COVID isolation.

However, this is actually not the case in Vancouver. While our inventory levels have risen sharply since the beginning of the year (from a low of 3,083 to a high of 4,014) this is a fairly typical pattern for the spring. 

We've actually seen this level of inventory multiple times over the last four years...in the fall of last year, through the summer of 2021 and very nearly (not quite) in June 2022.

Sales jumped to 821 (+15.8% month-to-month and +11.7% year-over-year). This is down just -9.1% from the 10-year average...the closest we've been to the 10-year average in Sales since June of last year (when we last had a stronger market).

New Listings are up to 2,334 a significant +33.9% over the 10-year average (see below for why I think we are seeing this sudden bump in inventory levels) and Total Active Listings are...
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Purchasing a new construction home in Vancouver has been a popular option for decades. But the process of purchasing new construction is fraught with risk for potential buyers.

Most buyers are completely unaware of the dangers of buying new construction in Vancouver. That’s true of people moving to Vancouver as well as those already living in Vancouver.

In this video I detail the 10 dangers of buying a new construction home in Vancouver…whether it’s a presale condo, a new townhouse or a new construction house…this video is going to be invaluable to you if you are considering buying a new home in Vancouver.

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

The quick start to the year stalled a bit in March.

Sales rose to 709 which was up +13.6% from February but down -4.3% from a year ago. This was also a very significant -30% below the 10-year average.

While sales continue to increase month over month as we enter the busier spring market, they are trending down vs the 10-year average.

New Listings reached 1,576 which was +7.5% higher than February and +13.7% higher than a year ago. It was also down -6.9% from the 10-year average. Meanwhile, total active listings rose to 3,432 which was +15.5% over the 10-year average.

The result is that despite sales being behind where we normally are, supply of homes is dropping. That drop in supply is putting upward pressure on prices.

In fact, most market segments have shifted into a seller's market. The only segment still showing a degree of weakness are westside houses...but even there prices are rising.

Every category of home in Vancouver jumped up in price from February (most significantly East Vancouver...

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Half-duplexes have become one of the most popular options for families living in Vancouver. As prices continue to rise, owning a single family detached home in Vancouver is no longer feasible for many. A house in Vancouver has become only viable for those with extremely deep pockets.

So if you are moving to Vancouver what are your options?

Not everyone is suited for condo living. Many people tire of all the rules, the lack of privacy, minimal outdoor space and the monthly maintenance fees. And if you have kids, you may want more than just two bedrooms. So what do you do?

Townhouses are also an option. However, they aren’t quite right for many living in Vancouver either. Maintenance fees, lack of individual garages and limited outdoor space can all issues for potential buyers. Is there any other alternative, though?

The answer is, YES. The classic Vancouver half-duplex can be a perfect fit for buyers looking for something more than a condo but not quite a house. For many buyers...
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Welcome to my guide on what NO ONE tells you about living in Vancouver.

Do you want the inside scoop on what it’s like to live in Vancouver? If you are thinking of moving to Vancouver you won’t want to miss this video!

In this video, I uncover the untold secrets and hidden gems that I’ve learned in 5 decades of living in Vancouver.

These are the secrets that only a born and raised Vancouverite knows. From it’s beaches, amazing food scene, healthy lifestyle and work-life balance Vancouver offers those living in Vancouver so much more than just it’s pretty façade.

By the end of this video you’ll have inside knowledge of what it’s like to live in Vancouver...and it'll help you decide if you should move to Vancouver too.
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Vancouver Real Estate – Monthly Market Update – Infographic – January 2024

So things turned a little positive in 2024.

As I've been talking about in recent months, the winter is usually the slowest period in Vancouver's real estate market. We typically see the lowest amount of activity mid-November through to the end of January.

However, THIS past January bucked that trend a little. What's normally our slowest month of the year actually saw a jump in activity not just in comparison to December 2023 (month to month) but also a very significant increase over January 2023 (year over year).

Sales rose to 412 (from 382). That's a +7.9% increase from last month and a whopping +31.6% increase over a year ago. Notably, it's still -16.4% below the 10-year average for the month of January.

New listings rose a whopping 236% over the month to 1,339. This was up +26.2% from a year ago. To put it into context this was up just +2.9% over the 10-year average.

And despite a big jump in new listings, active listings remained fairly stable. This number rose by just +0.8% to 2,897...

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One of Vancouver’s most interesting neighbourhoods is Mount Pleasant.

If you are moving to Vancouver, or already living in Vancouver then Mount Pleasant is a neighborhood that you need to have on your radar. In this video I take you along for the ride as I explore this eclectic part of Vancouver…and share with you what it’s like to live in Mount pleasant.

I’ll discuss everything you need to know about living here such as the history of the area, demographics, housing options, amenities, the pros and cons of living in Mount Pleasant and a quick map tour of Mount Pleasant, too.

By the end of this video you should know a lot more about Mount Pleasant and if it’s the right place for you to move to and live in. If you’d like to see more information about the area, be sure to check out this video that I put together about neighboring Riley Park/Little Mountain:

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Vancouver Real Estate – Monthly Market Update – Infographic – December 2023
As I predicted last month, December 2023 was another "weak" month in Vancouver's real estate market. All market activity continued the decline that started in November.

But as mentioned last month, this is normal market activity at this time of year. There's (almost) always a sharp decline of activity through the end of the year as most of us focus on family, vacations and holidays.

This year was no exception, but activity levels did fall sharper than we would usually see...with levels falling well below the 10-year average.

Sales fell to 382. This was down -22.2% from last month (but up +3.5% from last year) and off a whopping -31.9% from the 10-year average.

New Listings dropped to 398, down -63.3% from last month (but up +1.5% from a year ago). This was down -16.5% from the 10-year average.

This combined for a total of 2,735 Active Listings in Vancouver at the end of December. Up +24.7% over the 10-year average but down -24.5% from last month and up +1.82% from last year.

The result of softer...
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Categories:   Weekly Vancouver Real Estate Update
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