The Vancouver market certainly stayed fairly steady in 2013. Prices statistically have been increasing which shows a positive trend for Sellers in 2014. Here is the December 2013 report.

Metro Vancouver housing market characterized by modest home sale and price increases in 2013
The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011. continue…

It has been a crazy busy Summer so far. I am not surprised with statistics below based on the activity I have witnessed in July. It is a great time for Buyers to look because prices have stayed fairly stable. More listings have come on the market due to the increased activity.

July home sale activity increases in Greater Vancouver

Sunny weather did not slow the pace of home sale activity in July. Last month was the highest selling month of the year in Greater Vancouver and the highest selling July since 2009.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,946 on the Multiple Listing Service® (MLS®) in July 2013. This represents a 40.4 per cent increase compared to the 2,098 sales recorded in July 2012, and an 11.5 per cent increase compared to the 2,642 sales in June 2013.
Last month’s sales were 0.1 per cent above the 10-year sales average for the month. continue…

Hello everyone, thank you for the kind words regarding my blogs. I am glad that many of you are finding them useful.

The market is steadily increasing in speed from a fairly slow start for the year. The good thing for home owners is that prices have generally stayed flat with increases in certain areas of the lower mainland. I am a great believer in the Vancouver market. Since the topography of Vancouver will not allow much more free land for new construction, home prices will stay at the current levels and higher. More and more people are migrating here from other parts of Canada and other countries. We simply just do not have the space, creating a demand in housing.

Please feel free to contact me if you have any questions.

Spring months bring balance to Greater Vancouver housing market

While the number of home sales in Greater Vancouver continued to trend below the 10-year average in May, the balance of sales and listings meant continued market stability this spring.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,882 on the Multiple Listing Service® (MLS®) in May 2013. This represents a one per cent increase compared to the 2,853 sales recorded in May 2012, and a 9.7 per cent increase compared to the 2,627 sales in April 2013. continue…

Here are the latest statistics for January 2013 Sales. It definitely shows that number of sales have declined but prices have remained fairly flat. Sellers are taking their homes off the market rather than sell at prices lower than what they expect. It is still a great time for Buyers due to the lowest interest rates in history and level of inventory. There are signs in February 2013 that sales are starting to heat up. Waiting for the 30-40% drop in prices will never happen due many factors. Feel free to contact me so I can fill you in. Enjoy the Buyer’s market out there and take advantage of it.

January home sales remain quiet

Home buyer demand remains below historical averages in the Greater Vancouver housing market. This has led some home sellers to remove their homes from the market in recent months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,351 on the Multiple Listing Service® (MLS®) in January 2013. This represents a 14.3 per cent decrease compared to the 1,577 sales recorded in January 2012, and an 18.3 per cent increase compared to the 1,142 sales in December 2012. continue…

If there was ever an opportunity for Buyers to take advantage of market conditions it would be now. They will find a far more relaxed buying experience with less competition from other Buyers. Many sellers are more flexible with offers too. With Interest rates at extremely low levels affordability is still within arms reach. Here is the latest report from the Vancouver Real Estate Board.

Conditions continue to favour buyers in the Greater Vancouver housing market
The summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 sales in September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012.
September sales were 41.6 per cent below the 10-year September sales average of 2,597.
“There’s been a clear reduction in buyer demand in the three months since the federal government eliminated the availability of a 30-year amortization on government-insured mortgages,” Eugen Klein, REBGV president said. “This makes homes less affordable for the people of the region.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,321 in September. This represents a 6.3 per cent decline compared to September 2011 when 5,680 properties were listed for sale on the MLS® and a 31.6 per cent increase compared to the 4,044 new listings in August 2012. continue…

This is definitely a good time for Buyers to be looking. It will give them plenty of choices and decent prices on properties. In my oppinion this opportunity is not going to last. Around October the market should change to a more ballanced one.

 

 

Home sellers continue to outnumber buyers in Greater Vancouver’s summer housing market
Home sale activity remained below long-term averages in the Greater Vancouver housing market in August.
continue…