Real Estate Team in Burnaby, Tricities, and New Westminster

December 2024 Market Statistics

Posted on Jan 06, 2025 in Statistics

December 2024 Market Highlights Infographic

Happy New Year! We wish everyone a healthy, happy, and prosperous 2025!

We thought that we would start this newsletter by looking back at the year that was 2024.

REAL ESTATE MARKET TRENDS FOR 2024

Market Dynamics & Opportunities:

December saw increased sales activity in all of the regional real estate boards, including the GVR, FVREB, and VIREBs, indic...

November 2024 Market Statistics

Posted on Dec 04, 2024 in Statistics

As the holiday season approaches, the market is showing some interesting dynamics. Traditionally, December sees a slower pace as people focus on holiday plans, family gatherings, and festive events. However, this year has been anything but typical!

October’s sales exceeded the 10-year average, and November kept up the momentum. Now, December is star...

October 2024 Market Statistics

Posted on Nov 06, 2024 in Statistics

Well, well, well. The political and financial climate has changed pretty radically over last month. Both the Bank of Canada and the US Fed have lowered their base interest rates by 50 points or 0.50% each, citing low inflation and economic growth. Both are expected to continue this downward trend in subsequent meetings.

The expectation of this cut h...

September 2024 Market Statistics

Posted on Oct 04, 2024 in Statistics

Multiboard Real Estate Statistics for GVR, FVREB, and VIREB for September 2024

As we move deeper into the fall, with crisp mornings and shorter days becoming more noticeable, the real estate market remains sluggish, most notably through late summer and early fall. It’s clear that potential buyers without homes to sell first are waiting for anticipated further reductions in mortgage rates. Meanwhile, sellers are facing stiff c...

August 2024 Market Statistics

Posted on Sep 05, 2024 in Statistics

Multiboard Statistics for VIREB, GVR, and FVREB for August 2024

We hope that everyone had an enjoyable summer and had a chance to celebrate the season with friends and family while the weather was clear.

Condo inventories have surged by 40%, and townhouse inventories by 44% since August of 2023 in the GVR, with similar patterns occurring in other regions.

Despite the rise in condo inventories, falling average pr...

July 2024 Market Statistics

Posted on Aug 05, 2024 in Statistics

Multiboard Statistics for VIREB, GVR, and FVREB for July 2024

We hope that everyone is enjoying the lovely summer weather.

It may be that there is some additional respite from the Bank of Canada on the horizon, which should be welcome news to those thinking of entering the real estate market, as well as those homeowners that will be renewing soon.

The recent volatility in the stock market caused by the "unwindi...

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