RSS

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

Posted on by
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...

Read

Posted on by


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!

Read

Posted on by
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...
Read

Posted on by



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.

Read

Posted on by

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...

Read
Older posts : page 2
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.