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Are You Ready to Buy Your Next Home in Vancouver?

If you are ready to buy your first house, condo or townhouse in Vancouver Yaletown, Kitsilano, Vancouver Downtown, Gastown, West Vancouver, Coal Harbour, Kerrisdale, False Creek or other parts of the Lower Mainland, then there are three vital tips that you will want to keep in mind as you prepare to enter into the Vancouver real estate marketplace. By following these tips, you will be in the best possible position to ensure that you really will be able to find and buy your dream home.

Get Pre-approved for a Home Mortgage

Perhaps the most important step that you should keep in mind when it comes to buying your first home is to get pre-approved for a home mortgage loan. By getting pre-approved for a home mortgage loan before you start looking, you will be in a far stronger position to enter into a real estate contract.

The typical home seller will be more eager to enter into a sales contract with a person who has been pre-approved for a home mortgage loan. One of the biggest obstacles to closing a real estate deal in Vancouver and the Lower Mainland is usually the inability of the buyer to obtain acceptable bank financing. By coming to the bargaining table with a pre-approved home mortgage, you will be able to demonstrate to a seller that you are serious about buying their home.

Develop a Specific Home Buying Plan

Another important step that you will want to take when it comes to buying your first home is to develop a specific home buying plan. If you do not have a plan, you will often be tempted off course in your search for that perfect property. A Vancouver REALTOR® will help you set up your plan.

Perhaps the most significant element of a plan is to set forth specifically what you are willing to pay for a house, condo or townhouse. The failure to establish such a budget oftentimes results in a person ending up spending far more on a home than he/she can actually afford.

Consult with a REALTOR®

Finally, your interests can be best served by engaging a professional Vancouver real estate agent to assist you in your search for your home. Our agents will provide you with the newest Vancouver MLS real estate listings, advise you on all facets of a property and the current market, guide you through the complex contract negotiations and always be there for your needs. By selecting a professional Vancouver real estate agent to assist you in your home search, you have the best chance for success in finding your ideal Vancouver house, condo or townhouse and ensuring your experience is both exciting and stress-free.
 
 

 

Latest Vancouver Real Estate News

February 2021 Market Highlights

Comparing February 2021 to February 2020, the statistics are as follows:

- Detached Properties - Decrease of 27.5% in total active listings, increase of 81.8% in sales, decrease of 15.2% in days on market average and increase of 13.7% for the MLS® HPI benchmark price.

- Condos - Increase of 5.3% in total active listings, increase of 66.4% in sales, increase of 6.5% in days on market average and increase of 2.5% for the MLS® HPI benchmark price.

- Townhomes - Decrease of 27.3% in total active listings, increase of 79.9% in sales, decrease of 31.3% in days on market average and increase of 7.2% for the MLS® HPI benchmark price.
 

Source: Real Estate Board of Greater Vancouver

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January 2021 Metro Vancouver Housing

The British Columbia Real Estate Association (BCREA) reports that a total of 7,169 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January 2021, an increase of 63.3% over January 2020 and over a thousand sales higher than the previous record for the month of January. The average MLS® residential price in BC was $845,169, a 16.1% increase from $728,269 recorded in January 2020. Total sales dollar volume was $6.1 Billion, an 89.6% increase from last year.

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"It was once again a record-setting month for the provincial housing market," said BCREA Chief Economist Brendon Ogmundson. "While sales were strong across all regions of the province, the Fraser Valley, Interior and Vancouver Island regions shattered previous sales records and pushed January...

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January 2021 Market Highlights


Comparing January 2021 to January 2020, the statistics are as follows:

- Detached Properties - Decrease of 26.5% in total active listings, increase of 69.9% in sales, decrease of 26.1% in days on market average and increase of 10.8% for the MLS® HPI benchmark price.

- Condos - Increase of 23.2% in total active listings, increase of 46.7% in sales, increase of 2.3% in days on market average and increase of 2.2% for the MLS® HPI benchmark price.

- Townhomes - Decrease of 16.8% in total active listings, increase of 38.0% in sales, decrease of 41.4% in days on market average and increase of 4.3% for the MLS® HPI benchmark price.
 

Source: Real Estate Board of Greater Vancouver

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December 2020 Metro Vancouver Housing

There were 8,268 MLS® residential unit sales recorded across the province in December, a record for the month which represents an increase of 57.8% from December 2019. The average MLS® residential price in BC was $847,600, an increase of 12.5% from the same month last year. Total sales dollar volume was $7 Billion, a 77.5% increase year-over-year.

“While 2021 is expected to get off to a roaring start, the level of supply in the market is near a record low,” added Ogmundson. “That will likely translate to considerable pressure on prices until listings pick-up.”

There were 93,953 residential unit sales recorded by MLS® in 2020, an increase of 21.5% from the 77,350 units sold in 2019. The annual average MLS® residential price in BC...

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I have sold a property at 207 138 HASTINGS ST E in Vancouver
I have sold a property at 207 138 HASTINGS ST E in Vancouver.
AFFORDABLE 1 bedroom / 1 bath at Sequel 138, just steps from Gastown, Tinseltown, Chinatown and the downtown core. Built in late 2015, building features a unique central courtyard and open breezeways, reclaimed wood harvest table, shared BBQ and resident urban garden plots. Home features include 9 ft ceilings, hidden Blomberg fridge, SS range, mounted microwave, Corian countertops, insuite washer/dryer combo & laminate flooring throughout. Low maintenance fees, balance of New Home Warranty, low property taxes & great potential rent return for INVESTORS. Don't miss this one!
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November 2020 Metro Vancouver Housing

The British Columbia Real Estate Association reports that a total of 9,416 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November 2020, an increase of 42.1% from November 2019. The average MLS® residential price in BC set a record of $816,074, a 9.3% increase from $746,310 recorded the previous year. Total sales dollar volume in November was $7.68 Billion, a 55.4% increase over 2019.

“Home sales were once again unseasonably strong in November with several markets setting records for the month,” said BCREA Chief Economist Brendon Ogmundson. “While demand continues to be strong, the supply of listings has reached near-record lows in several parts of the province, with prices rising sharply as a result."

Active listings were...

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October 2020 Metro Vancouver Housing

The British Columbia Real Estate Association (BCREA) reports that a total of 11,051 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October 2020, an increase of 43.8% from October 2019. The average MLS® residential price in BC set a record of $812,960, a 12.5% increase from $722,333 recorded the previous year. Total sales dollar volume in August was $8.98 Billion, a 61.8% increase over 2019.

“The provincial housing market sustained its blistering pace of activity in October,” said BCREA Chief Economist Brendon Ogmundson. “While pent-up demand may be starting to fade, record low interest rates and a recovering job market are supporting strong sales.” “A pandemic-driven shift in buyers’ preference for...

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September 2020 Metro Vancouver Housing

In September 2020, the British Columbia Real Estate Association (BCREA) reports that a total of 11,368 residential unit sales were recorded by the Multiple Listing Service® (MLS®) which is an increase of 63.3% from September 2019. The average MLS® residential price in BC set a monthly record of $803,210, a 15.3% increase from $696,647 recorded the previous year. Total sales dollar volume in August was $9.1 billion, an 88.3% increase over 2019.

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“The provincial housing market had a record-setting September,” said BCREA Chief Economist Brendon Ogmundson. “Both total sales and average prices were the highest ever for the month of September as pent-up demand from the spring pushes into the fall.” “Average prices are skewing higher as demand...

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New property listed in Downtown VE, Vancouver East
I have listed a new property at 207 138 HASTINGS ST E in Vancouver.
AFFORDABLE 1 bedroom / 1 bath at Sequel 138, just steps from Gastown, Tinseltown, Chinatown and the downtown core. Built in late 2015, building features a unique central courtyard and open breezeways, reclaimed wood harvest table, shared BBQ and resident urban garden plots. Home features include 9 ft ceilings, hidden Blomberg fridge, SS range, mounted microwave, Corian countertops, insuite washer/dryer combo & laminate flooring throughout. Low maintenance fees, balance of New Home Warranty, low property taxes & great potential rent return for INVESTORS. Don't miss this one!
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August 2020 Metro Vancouver Housing


Last month, the British Columbia Real Estate Association (BCREA) reports that a total of 10,172 residential unit sales were recorded by the Multiple Listing Service® (MLS®) which is an increase of 42.8% from the same month last year. There was a 12.7% increase in the average MLS® residential price in BC bringing it to $771,309 ($684,093 recorded the previous year). Total sales dollar volume in August was $7.8 billion, a 61.1% increase over 2019.

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“Very strong provincial home sales continued in August,” said BCREA Chief Economist Brendon Ogmundson. “While pent-up demand from the spring is driving much of the increase, we anticipate a sustained strong level of sales through the fall.”

Total provincial active listings are still down more than 10%...

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.