Highlights of Dexter’s February 2024 report
· Buyers continue to show up! Number of sales in Greater Vancouver were up 45% from January
· Sellers starting to show up, the number of new listings were up 20% from January
· Bank of Canada continues the holding pattern on its rate – fixed rates declining
· Sales in West Vancouver up 143% c ...
Highlights of Dexter’s January 2024 report
· Buyers are back! Sales in Greater Vancouver were up 39% from January 2023
· Vancouver detached listings are at the lowest level since December 2015
· The number of new listings were only up 15% from January 2023
· When will the Bank of Canada cut its rate?
· The total number of sales i ...
Highlights of Dexter’s December 2023 report
· Prices in Greater Vancouver were up 5% in 2023
· Vancouver West Side detached prices showed an increase of 11.4% in 2023
· Total number of New Listings were the lowest since 2001
· Let the interest rate decreases begin
· The Buying signal is now
It would seem interest rates and infl ...
Highlights of Dexter’s November 2023 report
New Westminster’s average price is the lowest in the region
Interest rates are coming down… soon.
2023 will have the lowest annual number of new listings since 2002
West Vancouver House Price Index down 3.7% month-over-month
BC NDP quickly pass a number of bills to boost supply and curb speculation
The numbers don’t pa ...
The waiting game in the Metro Vancouver housing market continues but more sellers are joining in and some are becoming impatient. One month a trend does not make. But we certainly saw more listings come on the market in Metro Vancouver in September – more so in the first half. As September moved on through the second half of September, fewer listings came on than in the first half and ...
Highlights of the Dexter Report August 2023
• Bank of Canada holds prime rate at 5% but keeps door open to further hikes
• Median price of a West Side detached house up $1 million in past year
• Total new listings have been falling, month-over-month, since May
• East Vancouver is leading all markets in detached house sales
• South Delta detached houses are mov ...
Highlights of the July Dexter Report
· Home prices are virtually unchanged in the past year
· Total sales in Greater Vancouver are up nearly 30% from July 2022
· Wily buyers take advantage of a summer sales slump
· There are now 16,400 properties for sale across Metro Vancouver
· Vancouver density plan invites higher taxes f ...
Highlights of the Dexter Mid-Year 2023 Report
· Overall housing sales were 194% higher in June compared to January
· Composite home benchmark price is up 8% from the start of the year
· Record high prices are being seen in suburban markets
· Investors pile in as condo prices are nearing record highs
· Vancouver’ ...
Highlights of the May 2023 Dexter Housing Report
• May average home price $200,000 higher than in January
• May home sales-to-listing ratio a sizzling 59%
• Total sales the highest this year and higher than in May 2022
• Surrey detached new listings were up 53% from April 2023
• Overall higher listings may point to a price plateau this summer
After five mo ...
Highlights of the April Market Report
· We are now in a seller’s market across Greater Vancouver
· Multiple offers are being seen as buyers roar back
· Buyers must brace for higher new home prices in ‘24
· Greater Vancouver sales are up 166% since the start of the year
· Fraser Valley detached house prices are up $60,000 since ...
March 2023 Month End Sales & Listing ReportHighlights of Dexter Realty’s March 2023 Report:
· Benchmark prices are 22% higher than three years ago
· Greater Vancouver sales are up 146% from January 2023
· Greater Vancouver Benchmark detached-house price rise $60,000+ this year
· First-time homebuyer incentive starts April 1
· Five-year fixed mortgages ...
Highlights of Dexter Realty’s February 2023 Report
· Prices increased month-over-month for the first time since May 2022
· Housing sales are up 77% from January; new listings are up just 5%.
· Multiple offers are being seen on Westside detached houses.
· Top townhouse market: New Westminster.
· Undersupplie ...
“The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it.” Michelangelo
2023: the year to get in position for the recovery
January 2023 signalled early that it would end with what the Real Estate Board of Greater Vancouver says is “among the lowest sales month in recent history.”
As of mid-month, total transactions had reach ...
November 2022 Month End Sales and Listing ReportAs Peter (Yogi) Berra famously said, “It’s Deja-vu all over again” but in this case it is in comparing Metro Vancouver’s housing market in November 2018 and what we are experiencing today. 2018, after all, was also a down market and that November’s housing sales across Greater Vancouver totalled 1,633 properties, eerily c ...
October 2022 Month End Sales & Listing StatsThe ancient Greek philosopher, Heraclitus, said, “Change is the only constant in life.” Well, that’s certainly true.
Things change. Often!
Kids get older. People take on new hobbies. Careers evolve.
As a result, a house that was perfect when the owners originally purchased it may no longer be ideal. That can be the reality even if they’ve only be ...
“It was the best of times, it was the worst of times” Charles Dickens
The worst of times; the best of times in the Metro Vancouver housing market
Highlights of the September 2022 Dexter Report
· Five markets have composite home prices under $1 million
· Home prices ...
August 2022 Month End Sales and Listing Stats
“Believe and act as if it were impossible to fail.”
Charles F. Kettering
New listings, housing starts flirt with record lows in August
Highlights of the August Report
Total new listings in August the lowest in more than 28 years
Ladner townhouses and condos fall to 1-month supply
At least six major condo projects have stopped or s ...
“Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy” Dale Carnegie
Homebuyers, investors take advantage in this market
HIGHLIGHTS OF THE JULY 2022 REPORT
· Average 5-year ...
June 2022 Month End Sales & Listing Stats“On the other side of a storm is the strength that comes from having navigated through it. Raise your sail and begin.“
Gregory S. Williams
Buyer’s emerging with a market advantage
Highlights of the June Report
Biggest drop in month-over-month house price Port Coquitlam down 5.9%
Biggest increase in month-over-month house price: West Vancouver, u ...
“Become a student of change. It is the only thing that will remain constant.” Anthony J. D’Angelo
Welcome back to a balanced market. Don’t be afraid.
HIGHLIGHTS OF THE APRIL REPORT • Immigration at record high; housing starts down 41% • April housing sales down 34% from a year earl ...
February 2022 Month End Sales & Listing Report“Every choice you make has an end result.”
Zig Ziglar
February signals March will come in like a lion
Highlights of this Greater Vancouver report
Biggest year-to-year detached price increase: Pitt Meadows, up 40.4%
Why a ‘cooling-off period’ would mean market chaos
Month-over-month home price increase forecast during 2022: $9 ...
January 2022 Month End Sales & Listing Report
“If you have the courage to begin, you have the courage to succeed.” David Viscott
So you need to buy a home. Now is a good time to do so.
There have always been challenges purchasing in one of the most expensive housing markets on the p ...
December 2021 Month End Sales & Listing Report
“Don’t wish it were easier. Wish you were better.” Jim Rohn
Brace for an interesting year in the housing market
As the Metro Vancouver housing market comes off a record sales year, we are entering what could be the most interesting 12 m ...
“Courage is found in unlikely places.” J.R.R. Tolkien
November 2021 Month End Sales and Listing Stats
Condos alone can’t meet buyer demand
Sales of condominium apartments accounted for 53 per cent of all housing sales in Greater Vancouver in November 2021, with a 33.3% surge in transac ...
October 2021 Month End Sales & Listing Stats
“In a gentle way, you can shake the world.” Mahatma Gandhi
Suburban safety valves close as prices rise in step
The shocking shortage of homes for sale across Metro Vancouver has had the unsettling effects of levelling residential prices a ...
September 2021 Month End Sales & Listing Stats
“Effort only fully releases its reward after a person refuses to quit.” Napoleon Hill
Election over but the effects will linger in Metro Vancouver
The federal election is over and those who think nothing has changed ...
“Between saying and doing, many a pair of shoes is worn out.” Iris Murdoch
Townhouse sector exposes razor-thin housing supply
We are in the heat of a hastily-called federal election and housing is the central platform of the major parties, all of which say they will make housing mo ...
July 2021 Month End Sales and Listing Stats
"Believe you can and you’re halfway there." Theodore Roosevelt
Reality of housing shortage exposed in July
Sometimes you just have to shake your head at the reports we read about the Greater Vancouver housing market. Such as quotes from ...
June 2021 Month End Sales & Listing Stats
"We can't help everyone, but everyone can help someone." Satchel Paige
Balanced market seen holding this summer
June housing sales in Greater Vancouver were down 11.4% from May to the lowest level since January ...
May 2021 Month End Sales & Listing Report"Don’t look back. Something might be gaining on you."
Satchel Paige
Like the weather itself in May, the Greater Vancouver housing market was unseasonably hot but with subtle signals of cooling.
May marked the second consecutive month with sales declining in absolute numbers from the previous mon ...
April brings a shower of new listings
With more than 10,000 homes for sale, fear of missing out eases
“There are no shortcuts to any place worth going.”
Beverly Sills
The incredible boomerang in the Metro Vancouver housing market was never more apparent than this April, as total housing sales bounced back from the lowest monthly sales on record to the highest in a 12-month span. In Ap ...
Potential Immigration the wild card in Metro housing market
“We cannot solve our problems with the same thinking we used when we created them.”
Albert Einstein
March housing sales skyrocketed more than 126% higher than in March 2020 – the month the COVID-19 pandemic began – to the highest monthly sales pace ever recorded in Greater Vancouver.
The composite benchmark home price leaped 9.9% ...
February 2021: Watch for the rise of the strata market
February is traditionally a ho-hum period in residential real estate but this year, as with so much of the recent Metro Vancouver market, this February proved exceptional. Housing sales hit the highest monthly level since June 2017, with prices arcing nearly 9% higher than a year earlier to ...
Welcome to January 2021 – please fasten your seat belts
Some will express surprise that, as we enter the second year of a global pandemic, the rush to purchase homes in Greater Vancouver continues the startling sales pace seen in 2020. But there is a simple reason for the January surge: price appreciation as accelerating buyer demand collides with a stubborn lack of inventory.
In the past 1 ...
“There’s nowhere you can be that isn’t where you’re meant to be…”
John Lennon
Last year I started this report with John Lennon’s lyrics about the new year and hoping it was a good one… Well, the real estate market came alive, but a global pandemic isn’t what anyone would call a good year. In keeping with the legendary artist though, back in March who would have imagined that D ...
November 2020 Month End Sales & Listing Report“ Character is much easier kept than recovered.”Thomas Paine
This is no longer a comeback! This is a real estate market making its own way into 2021. This is well beyond pent up demand and more like a surge of moves being made for a variety of reasons. Those buying and selling have had more confidence i ...
October 2020 Month End Sales & Listing StatsWe made it through Halloween in the year 2020 – with a full moon, endless fireworks and turning back the clocks and with all that it was the real estate market that was the least scary in all this. In fact, the market continued to shake off the effects of the pandemic in October and went out dressed as a bull when so many thought it wo ...
September 2020 Month End Sales & Listing StatsThe resale housing market is helping to lead us out of the Great Suppression – now who would have thought that would be the case when we dived into the dark days back in March. Certainly not CMHC – the Canadian Mortgage Housing Corporation after they tried to convince everyone there would be a decline in activity and prices. And I’m ...
August 2020 Month End Sales & Listing StatsThere seemed to be more competition in the real estate market than in the National Hockey League this August – who ever thought that would be a comparison for this time of year. If we thought competing offers were a constant in July, after a tempered start in the first half of August, we experienced two weeks with the most amount of sal ...
July 2020 Month End Sales & Listing StatsIs this the real life? or is this just fantasy? Caught in a landslide, no escape from reality? The lyrics fit well right now. After seeing real estate sales in July be the highest in three years, the questions have been bouncing around as to whether this is a short-term result or a market intent on continuing to produce through the rest ...
June 2020 Month End Sales & Listings StatsWe have moved into Phase 3 of the British Columbia COVID-19 Restart Plan which will allow for more businesses to open up, movement around the province and improvement in economic conditions. In looking at home sales in June, the real estate market had already moved into its next phase as June began with buyers and seller having become m ...
May 2020 Month End Sales & Listing ReportWe are all in the arena right now, and it is going to take the work of us all to come through what we are fighting today. Understanding compassion and humility will never be as important as it is during the current times.
As we moved through May, we saw a real estate market begin to form from the depths of the slowdown in March and April ...
April 2020 Month End Sales & Listing StatsWe will get back up! Considering the extent of lock down, the momentum of what March started certainly carried over into April. While sales were down and new listings were down, there was still participation in the market as Realtors found ways to present properties virtually and look at ways to ensure socially distanced showings could h ...
March 2020 Month End Sales & Listing StatsWhere to begin. This month’s numbers for Greater Vancouver real estate are a tale of what could have been, not so much what will be. The way sales on a given day are counted by the Real Estate Board of Greater Vancouver are by looking at the day when that sale is reported by a real estate company to the Board, regardless of when the date ...
February 2020 Month End Sales & Listings StatsAverage is the new up! Vancouver prices have gone up and will rise even more. What seemed like a very exuberant real estate market in Greater Vancouver in February produced an average volume of sales. With multiple offers a consistent theme, less so with detached homes, one would think it was a record month for total number of sales ...
January 2020 Month End Sales & Listings StatsNo new supply! That seems to be the cry of government and the opinion of some regarding Metro Vancouver real estate. Let’s talk about what effect this actually has on the market when supply isn’t part of the equation in dealing with the dynamics of our housing market, because affordability definitely isn’t one of the benefits of no ne ...
December 2019 Month End Sales & Listing ReportIn the immortal words of John Lennon – “another year over, and a new one just begun… Let’s hope it’s a good one.” For the third straight year, real estate sales in Metro Vancouver suffered through a collection of government policies aimed at achieving affordability and stability in the market, but achieving neither – in fact, making ...
November 2019 Month End Sales & Listing ReportIs this an early present for the Greater Vancouver real estate market? With a continuing free fall in the number of active listings and the number of home sales continuing to be on the rise, perhaps the Grinch hasn’t actually stolen all the thunder from real estate in Greater Vancouver. Attached are the Sales and Listings Statistics ...
October 2019 Month End Sales & Listing ReportAverage is the new up! And above average could be the start of a new trend in Greater Vancouver real estate. Attached are the Sales and Listings Statistics updated to the end of October 2019. This October in the Greater Vancouver real estate market saw a significant increase in the amount of sales compared to October of last year. Buy ...