Overall, we have seen a decrease in residential sales when comparing January 2017 to January 2016. Last month, there were 4,487 residential unit sales recorded by MLS® which is a 23% decrease in comparison to January 2017. For the total sales dollar volume, it was recorded at $2.79 Billion which is a 36.5% decrease from the same period last year. There has been a decrease of 17.5% in terms of the average MLS® residential price in BC bringing it to $621,093.

"Housing demand across the province returned to long-term average levels last month," said Cameron Muir, BCREA Chief Economist. "However, regional variations persist, with Victoria posting above average performance and Vancouver falling below the average." 

The decrease in the average MLS® residential price is largely attributed to there being more residential sales made in areas outside of the Lower Mainland. Vancouver residential sales fell from 43% of provincial transactions to 35%. In addition, Vancouver detached home sales have seen a decrease relative to multi-family units as they have skewed the average price statistic down. The MLS® Residential Benchmark Price in the Real Estate Board of Greater Vancouver area has seen a 3.7% decrease over the past six months, but is up 15.6% from January 2016.

For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively, at amalia@wesellvancouver.ca.

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Contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca for showings or for additional details on the three properties listed above. 

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I have listed a new property at 2-LOWER 163 PENDER ST E in Vancouver.
Newly renovated in the heart of Chinatown. The silk building which is west of Main St boasts 12 foot ceilings, open floor plan, polished concrete floors, top of the line air system & 3 bathrooms. Density in the area has been rapidly increasing with several new condo & commercial developments bringing in new residents, cafes & foot traffic. Public transportation is directly on Pender Street with the skytrain just blocks away.
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I have listed a new property at 1 163 PENDER ST E in Vancouver.
Great retail in newly renovated Silk building, in the heart of Chinatown. The unit boasts 16 ft ceilings, store front floor to ceiling windows & door, and a full wall of windows along the side; polished concrete floors, 2 bathrooms, venting in place if needed. Density in the area has been rapidly increasing with several new condo and commercial developments bringing new residents, cafes, retails and foot traffic. Public transportation is directly on Pender Street with the skytrain just blocks away.
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I have listed a new property at 3 163 PENDER ST E in Vancouver.
Newly renovated in the heart of Chinatown. The Silk building which is west of Main St boasts 14 ft ceilings, open floor plan, polished concrete floors, surrounded by windows on 3 sides and 2 full bathrooms. Density in the area has been rapidly increasing with several new condo and commercial developments bringing in new residents, cafes and foot traffic, public transportation is directly on Pender Street with the skytrain just blocks away.
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