May 2020 Month End Sales & Listing Report
We 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 Stats
We 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 Stats
Where 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 Stats
Average 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 Stats
No 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 Report
In 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 Report
Is 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 Report
Average 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 ...
September 2019 Month End Sales & Listing Report
Attached are the Sales and Listings Stats updated to the end of September 2019. Back to school, back to selling. The number of sales in September were up from August, a rare occurrence going from August to September. And yes, the number of new listings were down, pulling Active Listings down with it. So where is the autumn market go ...
August 2019 Month End Sales & Listing Report
Attached are the Sales and Listings Stats updated to the end of August 2019. Considering August is traditionally one of the slower months for real estate sales, this August was more active than anticipated. On the supply side, the number of new listings and active listings were down – showing buyers are engaging more than they have and ...
July 2019 Month End Sales & Listing Report
Attached are the Sales and Listings Stats updated to the end of July 2019. It’s down, it’s up, it’s down, it’s up… We wouldn’t expect anything less from the Metro Vancouver real estate market. After a lack lustre June, home sales in July were higher than both June of this year and July last year. A noticeable increase in demand for homes i ...
Attached are the Sales and Listings Stats updated to the end of June 2019. While the story might be that sales in June have dropped off from May, the market is back in decline—the actual fact is June has only outperformed May only 7 times in the last 25 years. We shouldn’t be surprised to see the market in Greater Vancouver perform any ...
May 2019 Month End Sales and Listing Report
Is this a one hit wonder or the start of a new album for Metro Vancouver real estate? Sales in May were the highest since May 2018 and second highest since November 2017. After 9 straight months with home sales below 2,000 units, there were 2,669 homes sold in Greater Vancouver in May. This was the longest period of monthly sales being ...
Not much is changing in the market in relation to sales numbers, we are seeing the total number of homes sold consistently below 2,000 since July of 2018. But on a positive note, it was the 4 straight increase month over month. Rome wasn’t built in a day nor is the Greater Vancouver housing market. The pent-up demand continues to build as a result. There were 1,850 sales in Grea ...
March 2019 Month End Sales & Listing Report
Attached are the Sales and Listings Stats updated to the end of March 2019. Ok, next! Let’s just move on to April! But for those looking for a recap, there were 1,743 sales in Greater Vancouver in March 2019, the lowest total for the month of March since 1986. So here is what we know; it was a slow month for home sales, buyers and sellers are both he ...
Attached are the Sales and Listings Stats updated to the end of February 2019. The NDP Government announced their budget in February and in the immortal words of George H. W. Bush – “No New Taxes!” After last years budget, there was a reprieve in the real estate market that was under fire from the provincial government last year. Although we did ...
Attached are the Sales and Listings Report updated to the end of January 2019. New Year, a similar mentality to start the year with a wait and see attitude in the market with both buyers and sellers. But the feeling is one of some growth of opportunity in the market with prices coming off lofty highs and some multiple offers occurring. Call it te ...
As we reflect on 2018, it was certainly the year of intervention into the real estate market. What we thought was intervention in the previous two years, became a race this year to add as many variables as possible to “create affordability.” Attached are the yearend 2018 Sales and Listings Stats in Greater Vancouver. There were 24,961 home sales in Gre ...
November 2018 Month End Sales & Listing Report
Attached are the Sales and Listings Stats updated to the end of November 2018. What’s clear for 2018 so far, it is a year of change, in all things real estate and all things related to real estate.
There were 1,633 homes sold of all types in Greater Vancouver in November this year compared with 2,831 sales in November last year and 2,255 homes ...
Attached are the Sales and Listings Stats updated to the end of October 2018. Two things came in October – rain and a few more sales in the market. As is the case with October, activity does increases as do the number of new listings.
Sales and Listings Statistics for All Regional for October 2018
September 2018 Month End Sales and Listing Report
Attached are the Sales and Listings Stats updated to the end of September 2018. Buyer’s Market! Two words we haven’t seen throughout the market in Metro Vancouver since 2012 and 2013. While the detached housing market was seeing Buyer’s Market conditions over the last months, townhouses and apartments are slipping into those conditions now too. ...
August 2018 Month End Sales and Listing Report
Attached are the Sales and Listings Stats updated to the end of August 2018. Schools back, but will the real estate market be back in September? It certainly wasn’t a summer to remember in the market leaving many to try and predict what will happen next and many more trying to offer advice as to why we’ve arrived at the point we have.
There wer ...
July 2018 Month End Sales & Listing Report
Attached are the Sales and Listings Stats updated to the end of July 2018. While the weather has helped to take attention away from the real estate market, we continue to see the impacts of the mortgage stress test, rate increase and government intervention on the market. Along with the natural transition from a very busy market as demand wanes and it ...
June 2018 Month End Sales & Listing Report
Attached are the Sales and Listings Stats updated to the end of June 2018. As is typically the case, June sales volumes were less than that of May as consumers’ attentions shift towards graduations and summer vacations. The total number of homes sold in June is below the 10 year average, as we’ve seen in 2018 so far but on the inventory side the amoun ...
May 2018 Month End Sales and Listings Report
Attached are the Sales and Listings Stats updated to the end of May 2018. May showed improvement from April with sales up month over month. Although year over year, we saw a decline. Not surprising given what we’ve seen this year so far. There continues to be much debate in the market over the provincial government’s intervention in the real estate ...
Tax changes for real estate in British Columbia, Canada:
Increase in Property Transfer Tax (Stamp Duty)
The Property Transfer Tax paid when purchasing residential property was increased to 5% (from 3%) on the purchase price for the value above $3,000,000 effective February 21st, 2018 for all properties closing as of that date regardless of the date the contract was written.
The Fo ...
Attached are the Sales and Listings Stats updated to the end of April 2018. April was a month of two tales – while sales were very much on par with March, the number of new listings were far ahead of the levels we saw in March. Active Listing counts are increasing, with the month over month amount increase in April for Greater Vancouver bein ...
Attached are the Sales and Listings Stats updated to the end of March 2018. With the government distractions thrust into the market the numbers are not surprising. With mortgage rule changes that increased the financial requirement for conventional mortgages, new housing tax policy and changes involving the Foreign B ...
February 2018 Month End Sales Stats
Attached are the Sales and Listings Stats updated to the end of February 2018. The real estate market in Metro Vancouver was under fire with the BC NDP Provincial Government releasing their first budget after 16 years in opposition. The budget contained new demand side taxes in the form of an increased Foreign Buyer Tax, going to 20% and extending to other r ...
Attached are the Sales and Listings Report updated to the end of January 2018. The real estate market in Metro Vancouver clearly is suffering from a lack of supply currently. For the third straight year, new listings for Greater Vancouver in January decreased from the year before. With 3,906 new listings in January this year, i ...
December 2017 and Year End Sales Statistics
Attached are the yearend 2017 Sales and Listings Stats in Greater Vancouver. It certainly was the year of the strata home! Condos lead the market, along with townhouses and detached houses lagging behind in terms of activity. Of the total sales in Greater Vancouver, 50 percent were condos (up from 46 per cent in 2016 and 42 per cent in 2015), 17 per ...
November 2017 Month End Sales Stats
This is the Sales and Listings Report updated to the end of November 2017. Sales for November were down from October in most areas, we typically see November down from October in terms of number of homes sold though. Greater Vancouver home sales were 2,831 in November, down 8 per cent from October which was 3,073 and up 26 per cent from November 2016 when th ...
October 2017 Month End Sales Stats
Attached are the Sales and Listings Stats updated to the end of October 2017. As typically seen in the fall market, October sales finished above September. The numbers in October were 3,073 homes sold in Greater Vancouver, up 7 per cent from September and 15 per cent above the 10 year average for October. But over the last 10 years, the average increase in sa ...
September 2017 Month End Sales Stats
Attached are the Sales and Listings Stats updated to the end of September 2017. Real estate markets seem like a distant conversation in light of the events of the last few days. So many conversations need to be had on things not real estate related, far beyond sales and listings and sale prices. While shifting towards the September market now, let’s hope ot ...
August 2017 Month End Sales Stats
Attached are the Sales and Listings Stats updated to the end of August 2017. The weather wasn’t the only hot part of Metro Vancouver with real estate sales proving that summer isn’t time off in the market. Although new listings were as dry as our weather over the last 3 months. August saw a slight increase in sales in Greater Vancouver with total units sold at ...
July 2017 Month End Sales Stats
Attached are the Sales and Listings Stats updated to the end of July 2017. Typical of summer in Metro Vancouver, the weather heats up and the market cools down. And with the wet spring we had this year and now the hot summer, attention has pulled away from real estate. And no different than we’ve seen over the last few years, July sales fall off those of the pre ...
“Tell everyone what you want to do and someone will want to help you do it.” – W. Clement Stone
Attached are the Sales and Listings Stats updated to the end of June 2017. With more ups and downs than our provincial government landscape, residential home sales in June saw a decline in Greater Vancouver with total units sold at 3,953 which was down from 4,425 ...
May 2017 Month End Sales Stats
“Sometimes the questions are complicated and the answers are simple.” ― Dr. Seuss
Attached are the Sales and Listings Stats updated to the end of May 2017. What was flat is now up! We saw the market spike in May with 4,425 homes sold in Greater Vancouver compared to 3,617 sales in April, an increase of 22 per cent. While the townhouse and condo market remains ...
“The bad news is time flies. The good news is you’re the pilot” – Michael Althsuler
Attached are the Sales and Listings Stats updated to the end of April 2017. Flat is the new up! We saw the market remain consistent in most areas over the last two months. With April homes sales pretty much matching those in March with 3,617 homes sold in April compared to 3, ...
“Some people walk in the rain, others just get wet” – Roger Miller
Attached are the Sales and Listings Stats updated to the end of March 2017. The real estate market in Metro Vancouver heated up in March, much more so than our weather! The townhouse and condo market continues to be the life of the market, although the ...
February 2017 Month End Sales Stats
"Go as far as you can see; when you get there you'll be able to see farther." - Thomas Carlyle
Attached are the Sales and Listings Stats updated to the end of February 2017. The real estate market in Metro Vancouver remained somewhat frozen but thawing from the months before. The attached and condo market has become what the detached market was last year, ...
January 2017 Month End Sales Stats
Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment." - Buddha
Attached are the Sales and Listings Stats updated to the end of January 2017. The real estate market in Metro Vancouver has certainly shifted in the last year. What was once the sizzling detached market has shifted to a more active condo market. Las ...
December Month and Year End sales Stats for 2016
"The tragedy of life doesn't lie in not reaching your goal. The tragedy lies in having no goal to reach." - Benjamin Mays
Happy New Year! All the best for a successful 2017 ahead!
Attached are the end of December 2016 Sales and Listings Stats. And what a year it was! A record breaking first half of the year and then a shift in the compl ...
November 2016 Month End Sales Report
"We are still masters of our fate. We are still captains of our souls." - Winston Churchill
This is the Sales and Listings Report updated to the end of November 2016. Sales for November were on par with October for the most part and in some areas higher – something not typical for this time of year as the selling season transitions into the holiday seas ...
October 2016 Month End Sales Report
It takes courage to grow up and become who you really are. - E. E. Cummings
This is the Sales and Listings Report updated to the end of October 2016. Sales for October leveled out after falling five straight months. Greater Vancouver homes sales were 2,284 in October, down 0.5% from September and down 39% from October 2015. Sales for the month of October ...
September 2016 Month End Sales Report
Wanting to be liked can get in the way of truth. - Delia Ephron
This is the Sales and Listings Report updated to the end of September 2016. Once again numbers are the story, with the total number of sales in the Greater Vancouver real estate market showing a decline for the 4th straight month. Not a sudden shift as one would be lead to believe. Greater ...
If you want to go fast go alone, if you want to go far go together. - African Proverb
This is the Sales and Listings Report updated to the end of August 2016. The sky isn’t falling, the beginning of the end isn’t upon us, nor is this the end of the world as we know it… The market is showing signs of what markets do, they adjust. So while there were 2,554 units sold in August, the average ...
"Nothing is more damaging to you than to do something that you believe is wrong." - Abraham
This is the Sales and Listings Report updated to the end of July 2016. Perhaps the Premier should have been receiving these stats updates as the Greater Vancouver real estate market may have showed it was looking after itself with home sales decreasing by 27 per cent in July compared to June. July ...
June 2016 Month End Stats
"An aim in life is the only fortune worth finding." - Robert Louis Stevenson
This is the Sales and Listings Report updated to the end of June 2016. Greater Vancouver real estate is shifting into summer mode, with sales levels down from May. Sales were down 8% compared to May 2016 while new listings were down 6% to May 2016 and up 6% to June 2015. The first half of ...
"We build too many walls and not enough bridges." - Isaac Newton
This is the Sales and Listings Report updated to the end of May 2016. Greater Vancouver real estate activity remained very strong through May, with sales levels at the same levels as April – stalling a drop in sales that we saw from March to April. Sales were up 18% year over year in Greater Vancouv ...