October 2023 Market Statistics
Posted on Nov 07, 2023 in Statistics
As October drew to a close, the real estate market embraced the spirit of the season with Halloween, ending the month on an eerie note. :^) Listings have started to accumulate, while sales remain lagging. In some areas, we've observed a slight uptick in prices, particularly in the condo segment, possibly owing to their affordability. Detached homes...
September 2023 Market Statistics
Posted on Oct 09, 2023 in Statistics
In this month's statistics email we've added a link to a very interesting video on the history of the Vancouver area from 9,000 years ago (!) to today. We hope that you enjoy it. See the link after the statistics.
The Bank of Canada has halted their interest rate increases for the short term, as the inflation rate has shown signs of slowing. Those...
The Bank of Canada has halted their interest rate increases for the short term, as the inflation rate has shown signs of slowing. Those...
August 2023 Market Statistics
Posted on Sep 07, 2023 in Statistics
In the Lower Mainland, prices have remained relatively stable over the past year, without significant appreciation. The Bank of Canada's decision to maintain the interest rate at 5% has provided some relief to potential homeowners, as they can secure their mortgages at stable rates. We expect to see more buyers enter the market this month, which sh...
July 2023 Market Statistics
Posted on Aug 04, 2023 in Statistics
THE REAL ESTATE MARKET OF 2023 TO DATE
In January 2023, Greater Vancouver experienced a notable shift in the real estate market with house prices increasing for the first time in eight months. This price decline was a consequence of seven rate hikes by the Bank of Canada, which led to a 10-20% drop in home prices, with even higher declines in the Fr...
June 2023 Market Statistics
Posted on Jul 07, 2023 in Statistics
Last month, as we were just about to send out our May newsletter, we received the news of the Bank of Canada raising its key lending rate to 4.75%, the highest level in 22 years. You would expect that to dampen the number of sales across all cities, however, June sales results were actually positive in the more affordable areas. In the Greater Vanc...
May 2023 Market Statistics
Posted on Jun 05, 2023 in Statistics
In May, there has been a noticeable increase in activity within the real estate market. Properties that are priced appropriately are garnering significant attention, leading to the resurgence of multiple offers. It's worth reminding potential buyers that the current prices are still generally lower than a year ago.
Since this time last year:
Condos...
Since this time last year:
Condos...