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Source: Real Estate Board of Greater Vancouver
Contact us at info@wesellvancouver.ca or 604-716-6155 for any of your real estate needs.
June 2020 Metro Vancouver Housing
Posted on
July 10, 2020
by
Amalia Liapis
![]() ![]() Source: Real Estate Board of Greater Vancouver Contact us at info@wesellvancouver.ca or 604-716-6155 for any of your real estate needs. July 2019 Metro Vancouver Housing
Posted on
August 15, 2019
by
Amalia Liapis
![]() The Multiple Listing Service® (MLS®) has reported a total of 7,930 residential unit sales last month which is an increase of 12.4% from the same month last year. The average MLS® residential price in the province saw a decrease of 1.6% from July 2018 to $684,497. The total sales dollar volume, on the other hand, saw an increase of 10.5% from July 2018 to $5.43 billion.
MLS® residential active listings in the province trended lower in July, down 3% from June and 6% from April on a seasonally adjusted basis. There were 41,621 active listings which is a 12.4% increase on a year-over-year basis, while overall market conditions remained unchanged from 12 months ago with the sales-to-active listings ratio at 19.1%.
Year-to-date, BC residential sales dollar volume decreased by 18.9% to $30 billion, compared with the same period in 2018. Residential unit sales decreased 14.4% to 43,612 units, while the average MLS® residential price was down 5.3% to $687,413.
For a breakdown of some market highlights for July 2019, please see below:
![]() For all your real estate needs, contact our office at info@wesellvancouver.ca or alternatively, at 604-716-6155. June 2019 Metro Vancouver Housing
Posted on
July 5, 2019
by
Amalia Liapis
Looking back at the market results for June, there has been an overall decline in home sales and prices while the supply of homes continued to accumulate in Metro Vancouver. As per the Real Estate Board of Greater Vancouver (REBGV), there were 2,077 residential homes sold in June 2019 which is a 14.4% decline from the 2,425 homes in May 2019. Sales were 34.7% below the 10-year June sales average, which is the lowest total for the month since 2000.
There were 4,751 detached, attached and apartment properties newly listed for sale on MLS® last month which is a 10% decrease compared to June 2018 and an 18.9% decrease compared to May 2019. Overall, there is a total of 14,968 listings on MLS® which is a 25.3% increase compared to June 2018 and a 1.9% increase compared to May 2019.
For June 2019, the sales-to-active listings ratio is 13.9% for all property types. Broken down, it is 11.4% for detached homes, 15.8% for townhomes and 15.7% for apartments. The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver dropped 9.6% from the same month last year to $998,700. This is the first time since May 2017 that the composite benchmark dropped below the $1 Million mark. Detached Homes: 746 units sold (2.6% decrease from June 2018). The benchmark price decreased by 10.9% from June 2018 and increased by 0.1% from May 2019 to $1,423,500. Apartments: 941 units sold (24.1% decrease from June 2018). The benchmark price decreased by 8.9% from June 2018 and decreased by 1.4% from May 2019 to $654,700. Attached Homes: 390 units sold (6.9% decrease from June 2018). The benchmark price decreased by 8.6% from June 2018 and decreased by 0.6% from May 2019 to $774,700. For all your real estate needs, contact our office at info@wesellvancouver.ca or alternatively, at 604-716-6155. January 2019 Market Highlights
Posted on
February 15, 2019
by
Amalia Liapis
![]() 2018 Housing and Economic Forecast
Posted on
July 10, 2018
by
WSV Real Estate Services
Posted in
BCREA, Economic Growth, Economy, Employment, Forecast, Greater Vancouver, Housing, Housing Demand, Real Estate, Vancouver
Based on projections for the remainder of the year, MLS® residential sales are expected to decline 9% to 94,200 units compared to 103,700 units in 2017. As well, 2019 and 2020 forecasts predict sales to decrease to 94,000 and 84,800 units, respectively. The Lower Mainland - Southwest region of the province (which includes the Greater Vancouver Area, the Fraser Valley and Chilliwack) constitutes ~60% of the housing demand in BC. Housing demand fell sharply in the first four months of 2018 as a result of tighter mortgage qualifications. There was minimal impact on home prices as a result of the slower housing demand. The type of housing market varies depending on housing type. The detached market in Vancouver and the Fraser Valley is showing a balanced market whereas the attached and apartment markets remain significantly undersupplied. While the housing market is slowing in growth, it is still continuing to be supported by a strong economy. Looking at the health of BC's economy has been promising. The economy has expanded at an above-trend growth rate for four consecutive years resulting in increased interprovincial migration, employment growth and overall strong consumer confidence. Early 2018 data has been consistent with the interpretation that the "BC economy will continue to produce the remarkable economic and employment growth enjoyed since 2014". Currently, there are over 60,000 residential units under construction in BC. The increase in new home completions coupled with the slowing housing demand will result in trending most BC markets towards balanced conditions this year, and lead to less upward pressure on home prices. For a more detailed look at the housing and economic forecast, click here. For all your real estate needs, contact our offices at 604-801-6654 or alternatively at info@wesellvancouver.ca. Source: British Columbia Real Estate Association (BCREA) National Housing Strategy Revealed
Posted on
November 28, 2017
by
Amalia Liapis
This strategy is making housing a priority and the $40 Billion investment, spread over a 10-year period, will be funded jointly by the federal, provincial and territorial governments. It addresses a large range of challenges and covers the entire housing continuum. With this joint investment, there are targets that this strategy hopes to attain which include 100,000 new housing units created, 300,000 existing units repaired and renewed, 300,000 households supported through the Canada Housing Benefit amongst others seen below. For all of your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively, at amalia@wesellvancouver.ca. August 2017 Housing Stats
Posted on
September 20, 2017
by
Amalia Liapis
The real estate market has recovered from the foreign-buyer tax lull that was introduced a year ago with the second-hottest August on record. Last month, there were 3,043 home sales in the Greater Vancouver area which is 2.80% and 22.30% higher than July 2017 and August 2016, respectively. Below you will find a comparative chart that depicts the Greater Vancouver residential sales from 2015 to present.
The benchmark price for single-family homes are now $1,615,100 which is a 2.2% increase compared to August 2016. As for attached units, the benchmark price is now $778,300 which is a 12.8% increase compared to August 2016. Lastly, the benchmark price for condos are now $626,800 which is a 19.4% increase compared to August 2016. For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca. Streetfront Retail Space Available for Lease
Posted on
September 7, 2017
by
Amalia Liapis
Posted in
Bakery, Cafe, Chinatown, Commercial, Downtown, East Pender, Fitness Studio, Gastown, Gym, Lease, Leasing, Main Street, Office, Railtown, Real Estate, Renovated, Restaurant, Retail, Strathcona, Streetfront, Vancouver
We've got a streetfront retail space available in a highly desirable area in the heart of Chinatown which has seen an influx of new developments. Vancouver\'s Chinatown is universally appealing to tourists and locals alike with its rich culture, striking heritage buildings and world-renowned delicacies. This location is in walking distance to Gastown, Strathcona and the Downtown Core and is in close proximity to transit hubs. The subject property boasts a unique layout with character storefront, exposed cement bricks, 16ft ceilings and polished concrete floors. This newly and extensively renovated unit is exposed to high vehicle and pedestrian traffic and has prominent signage opportunities which is perfect for a retailer, cafe, office or fitness studio! The unit also includes an enclosed board room, storage room, kitchenette and two individual washrooms. The space can also be accessed through a grade level loading door at the rear of the space. Contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca for additional information. Listing: https://spacelist.ca/p/bc/vancouver/161_e_pender_st/main_floor Benchmark Home Prices
Posted on
August 16, 2017
by
Amalia Liapis
Price of a typical composite Greater Vancouver home rises above the million-dollar mark for first time at $1,019,400. In July, there were 2,960 home sales in the Greater Vancouver area. Across all property types, the sales-to-active listings ratio for July 2017 is 32.2% – still a strong seller’s market, but an easing-off compared with June’s 45.5%.
As of July 2017, the benchmark price for detached properties is $1,612,400. This is a slight 1.9% increase compared with July 2016 and a rise of 1.5% in the month since June 2017. The benchmark price of an attached unit such as a townhouse or rowhome is $763,700 – 11.9% higher than July 2016 and a rise of 2.4% over June. The price of a typical condo-apartment in Greater Vancouver has risen to $616,600 – an 18.5% year over year increase and a 2.7% lift in a single month. Source: REW.ca For detailed information on benchmark prices broken down by area and property type, take a look at the statistics package put out by the Real Estate Board of Greater Vancouver here. For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca. 15% Foreign Tax -- One Year Later
Posted on
August 10, 2017
by
Amalia Liapis
The British Columbia government is reviewing the foreign buyers’ tax in the Vancouver area and the interest-free loan program to first-time homebuyers to determine whether they have helped improve affordability, BC's new housing minister says. A year ago, the Liberal government implemented a 15% tax on foreign nationals purchasing property in Metro Vancouver in an effort to cool skyrocketing house prices. This tax isn’t applied to commercial properties, only residential properties. Selina Robinson and BC Finance Minister, Carole James, will review real estate transaction data to determine whether the 15% foreign tax should be kept, revised or scrapped altogether. The data will be analyzed in order to determine whether it has been beneficial in housing affordability.
According to data from the B.C. Ministry of Finance, during the period of June 10 - August 1, 2016, 13.2% of all property transfer transactions in Metro Vancouver were involving foreign buyers. Once the foreign tax took effect, that figure fell to 2.6% during the period of August 2 - December 31, 2016. Figures recently released revealed that the government took in $102 million in revenue from the implementation of the foreign buyers' tax between August 2, 2016 to March 31, 2017. In the months after the tax, there were signs of cooling in Vancouver’s housing market, with the number of transactions falling. However, there have been signs that the market may be rebounding, as prices continue to creep up. The Multiple Listing Service composite benchmark price for all properties in Metro Vancouver was $998,700 in June, an increase of 7.9% from the same month last year. For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca. Cambie Corridor Housing
Posted on
June 26, 2017
by
Amalia Liapis
The City of Vancouver has a desire to redevelop the Cambie Corridor and launched the three-phase planning program in 2009 with the purpose of guiding long-term, transit-oriented growth. The Cambie Corridor is located in central south Vancouver and encompasses approximately 2,471 acres. This area extends 6km from West 16th Avenue to the Fraser River and is bordered by Oak Street and Ontario Street. The Cambie Corridor has roughly the same population as the West End, but five times the land area. 4 out of the 9 Canada Line stations are within the Cambie Corridor. Map view can be found below. Source: City of Vancouver, Cambie Corridor Phase 3 Community Profile Currently, Phase 3 is underway by building on the plan, focusing on land use and new housing opportunities while remaining within close proximity to the Canada Line stations. On June 12, 2017, the City announced that there are 11,500 new homes planned for the Cambie Corridor, of which more than 4,000 are intended to be "affordable" homes, including social and rental units that are linked to residents' incomes.
According to the City, the new interim 10-year housing targets will create housing that is "based on what people can afford, in new locations, and in housing forms that will meet the needs of our diverse population". These housing targets will be refined throughout the fall and will form part of the final Housing Vancouver Strategy. For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca. Sales Surge in BC Homes
Posted on
June 21, 2017
by
Amalia Liapis
Posted in
Active Listings, BC, BCREA, British Columbia, Chilliwack, For Sale, Fraser Valley, Greater Vancouver, Home, Listings, MLS, Real Estate, Residential, Statistics, Vancouver, Victoria
While it has been an ongoing trend that demand has been outpacing supply, residential sales have not been slowing down. In the latest market stats released mid-June by the British Columbia Real Estate Association (BCREA), there continues to be a month-over-month surge in residential sales. There has been a 26% increase in sales from April 2017 to May 2017 with a total of 12,402 residential home transactions. If it weren't for the low supply, 20-year low as a matter of fact, sales figures may even be higher than actual figures. This amount is 8% lower than May 2016 when the market was hot. As you can see below, as a result of 9 of 11 real estate boards in BC having a home sales to active listings ratio above 20%, this has resulted in a seller's market. The BCREA states that anything greater than 20% for a sustained period is a seller's market. The Greater Vancouver region, the Fraser Valley, Chilliwack and Victoria all have seen ratios of over 50%. Source: British Columbia Real Estate Association In May 2017, MLS® recorded a total of 12,402 residential unit sales and an average MLS® residential price in BC of $752,536 which is a 7.9% decrease and 4.2% increase, respectively, from the same period last year. Total sales dollar volume amounted to $9.33 Billion which is a 4% decrease from May 2016. For a detailed look at residential statistics for May 2017, read our previous blog here. For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca. Housing Demand Outpacing Supply
Posted on
June 19, 2017
by
Amalia Liapis
Posted in
BC, BCREA, British Columbia, Demand, Economics, For Sale, Home, MLS Listings, Real Estate, Residential, Residential Sales, Supply, Vancouver
Following suit with previous months, housing demand is still continuing to outpace supply. In May 2017, MLS® recorded a total of 12,402 residential unit sales and an average MLS® residential price in BC of $752,536 which is a 7.9% decrease and 4.2% increase, respectively, from the same period last year. Total sales dollar volume amounted to $9.33 Billion which is a 4% decrease from May 2016.
There is a shortage of housing supply in the entire southern portion which consequently results in upward pressure on home prices. Total active listings has decreased by 11.1% in comparison to May 2016 and totals 28,404 units. The ratio of home sales to active listings was over 20% in 9 of the province's 11 real estate boards and over 50% in Vancouver, the Fraser Valley, Chilliwack and Victoria. Below you will find a comparative chart showing May 2017 and May 2016 figures for average residential price, active listings, sales-to-active listings, dollar volume and residential units sold in BC. (Click to enlarge photo). For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca. CMHC Homebuying Resources
Posted on
June 14, 2017
by
Amalia Liapis
The Canadian Mortgage and Housing Corporation (CMHC) has useful tools for homebuyers to get a better understanding of the housing market. Some homebuying tools the CMHC has includes the Debt Service Calculator which gives homebuyers the opportunity to evaluate their current financial situation in order to determine how much they can comfortably afford to spend on a mortgage. Another tool is the Mortgage Payment Calculator that calculates the mortgage amounts and their frequency. For a look at more tools, click here. This mobile app put out by the CMHC allows homebuyers, especially first-time homebuyers, to make informed choices during the homebuying process. This is available to iOS, Android and Blackberry. This resource provides information for newcomers in regards to renting or purchasing a home in Canada. For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca. OPEN HOUSE - 2755 EAST 27TH AVENUE
Posted on
June 8, 2017
by
Amalia Liapis
Posted in
Detached Home, For Sale, Metro Vancouver, Open House, Real Estate, Renfrew Heights, Residential, Vancouver, Views
Come join Kane Ryan for our open house on Sunday June 11th from 1 to 3pm at 2755 East 27th Avenue. This spacious 2,100SF home located in a tranquil residential neighbourhood boasts of stunning views of downtown and mountains. We look forward to seeing you there!
More details: 2755 East 27th Avenue
For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca.
Historic Chinatown Retail Storefront For Lease
Posted on
May 29, 2017
by
Amalia Liapis
FOR LEASE - 161 East Pender Street || Main Floor Retail / Office Space The unit also includes an enclosed board room, storage room, kitchenette, and two individual washrooms. The space can also be accessed through a grade level loading door at the rear of the space. Main Floor - 2,598 SF Base Rent: $25.00/SF per annum Contact Amalia Liapis at 604-618-7000 or Kane Ryan at 778-223-5961 for additional information. KENSINGTON GARDENS - COMMUNITY PROFILE
Posted on
April 24, 2017
by
Amalia Liapis
We're not just selling a home, we're selling the community. With a walk score of 86, it's no doubt that our newest listing at 808-2220 Kingsway Street is in a prime location. Take a look at our community profile to see what's in the area! Contact Amalia Liapis at 604-618-7000 or at amalia@wesellvancouver.ca for more details. Additional information can be found here. OPEN HOUSE - 2755 EAST 27TH AVENUE
Posted on
April 21, 2017
by
Amalia Liapis
Posted in
East Vancouver, For Sale, Listing, Open House, Real Estate, Renfrew Heights, Residential, Vancouver
![]() Come join Kane Ryan for our open house this Saturday and Sunday at 2755 East 27th Avenue. This 4 bedroom, 2 bathroom home is located in a tranquil residential neighbourhood with stunning views of downtown and mountains. We look forward to seeing you there!
FOR SALE - KENSINGTON GARDENS
Posted on
April 21, 2017
by
Amalia Liapis
Posted in
Apartment, Development, For Sale, Kensington Gardens, Kensington Heights, Kingsway, Real Estate, Residential, Vancouver, Westbank
FOR SALE -- Corner two-bedroom and den unit at Kensington Gardens by Westbank for $660,000. This space includes a spacious balcony, Miele/Blomberg appliances, Corian countertops, wide-plank hardwood floors, Grohe fixtures and expansive windows with North/West views. This development features five star amenities which include an elevated courtyard with BBQ area and outdoor fireplaces, lounge, swimming pool, fitness centre, sauna/steam and hot tub! More Details - Kensington Gardens Unit For Sale LEASED SPACE
Posted on
April 20, 2017
by
Amalia Liapis
We're so excited to have LEASED a space for Joanna Keller Beautique, a beauty salon specializing in eyelash extensions, makeup application, hair styling and much more. We welcome you to the neighbourhood! We still have the retail level and top floor available at the Silk Building. For all your commercial sales & leasing needs, contact us at amalia@wesellvancouver.ca or at 604-618-7000. We look forward to working with you in finding a space that perfectly suits your business needs!
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South Granville
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South Granville, Vancouver West Real Estate
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South Vancouver
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South Vancouver, Vancouver East Real Estate
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Southeast Vancouver
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Southlands, Vancouver West Real Estate
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Speculation Tax
|
Squamish
|
Statis
|
Statistics
|
Stats
|
strata
|
Strata Owner
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Strathcona
|
Streetfront
|
Streetfront Retail
|
Stress Test
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Suburbs
|
Summer
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Sunnyside Park Surrey, South Surrey White Rock Real Estate
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Supply
|
Surrey
|
Survey
|
Tax Savings
|
Taxes
|
Tech Space
|
Tenant
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Tofino Real Estate
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Townhome
|
Townhomes
|
Townhouse
|
Transit
|
Two Storey
|
Unit Sales
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University VW, Vancouver West Real Estate
|
Update
|
Upgrades
|
Vacancy Tax
|
Value
|
Vancouver
|
Vancouver East
|
Vancouver Housing
|
Vancouver Property Values
|
Vancouver Real Estate
|
Vancouver West
|
Vancouver West Real Estate
|
Vancouver]
|
Victoria
|
Victoria VE, Vancouver East Real Estate
|
Views
|
Water View
|
Waterfront
|
WeRentVancouver
|
West End
|
West End VW, Vancouver West Real Estate
|
West Vancouver
|
West Vancouver Real Estate
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Westbank
|
Westender
|
Westside
|
Whistler
|
Willoughby Heights, Langley Real Estate
|
Yaletown
|
Yaletown, Vancouver West Real Estate
|
YVR
|
Zoning
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