Author: archiwebmanager
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January 2025 Vancouver Real Estate Market Recap
JANUARY 2024 VANCOUVER REAL ESTATE STATS Sales are up 8.8% from January 2024 Sales are down 11.3% compared to the 10-year average Detached Market Townhome Market Condo Market
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December 2024 Vancouver Real Estate Market Recap
What Happened in December 2024 in the Greater Vancouver Housing Market? Increased Market Activity Compared to Last Year: December 2024 saw 31% more sales and 24% more inventory compared to December 2023. Activity Still Below 10-Year Average: Sales were down 15%, and inventory was up 25% compared to the 10-year December average. Price Trends: Detached…
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November 2024 Vancouver Real Estate Market Recap
What Happened in November 2024 in the Greater Vancouver Housing Market? Market Activity Comparison (Year-over-Year): Sales in November 2024 were up 28% compared to November 2023. Total inventory increased by 21% year-over-year. 10-Year Average Trends Sales were 13% lower than the 10-year average for November. Inventory levels were 26% higher than the 10-year average. Price…
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October 2024 Vancouver Real Estate Market Recap
What Happened in October 2024 in the Greater Vancouver Housing Market? Increased Buyer Activity: October 2024 saw a 32% increase in sales year-over-year, though sales were still 5.5% below the 10-year October average. Surge in New Listings: New listings rose by 17% compared to last October, about 20% above the 10-year average, with total inventory…
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Understanding Vancouver’s Zoning Laws: Key Insights for Real Estate Decisions
For anyone interested in the Vancouver real estate market, it’s essential to understand how the city’s zoning laws may influence your choices. These regulations significantly shape development trends, impact property values, and dictate investment opportunities and housing availability. Staying informed about these laws can help you make smarter decisions in your real estate journey. So…
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Recent Changes in Canada’s Mortgage Regulations: What You Need to Know
On September 24, 2024, the Canadian government unveiled significant reforms to the country’s mortgage regulations aimed at easing homeownership for Canadians, particularly first-time buyers. These changes, expected to take effect by December 15, 2024, are designed to address the financial barriers to purchasing homes—especially for Millennials and Gen Z—while also supporting the broader housing market.…
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Investing in Vancouver Real Estate Now: Seizing Opportunities with Variable Rate Mortgages Amid Potential Interest Rate Declines
Vancouver’s real estate market remains a compelling option for investors, renowned for its resilience and long-term growth prospects. With interest rates potentially declining further, some may hesitate to invest immediately. However, there are strategic advantages to investing now, especially when considering variable rate mortgages that adjust with falling rates. Here’s why investing in Vancouver’s residential…
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September 2024 Vancouver Real Estate Market Recap
What Happened in September 2024 in the Greater Vancouver Housing Market? Sales Down, Inventory Up: Sales decreased by nearly 4% compared to September 2023, while total inventory increased by over 31%, and new listings surged by 133%. Prices Decrease Slightly: Benchmark prices dropped by just under 2% year-over-year. Detached homes saw a 0.5% decrease, condos…
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August 2024 Vancouver Real Estate Market Recap
What happened in August 2024 in the Greater Vancouver Housing Market? Market Shift: August 2024 saw a shift in the Vancouver real estate market, with sales down 17% compared to August last year and total inventory up by 37% Historical Context: Compared to the 10-year average, sales are down 26% and total listings are up…
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July 2024 Vancouver Real Estate Market Recap
What happened in July 2024 in the Greater Vancouver Housing Market? Increased Listings: Total new listings for July 2024 are up 20% compared to last July and 13% compared to the 10-year average, with total listings up 39% year-over-year and 22% compared to the 10-year average Decreased Sales: Sales for July 2024 are down 5% from…
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Understanding BC’s New Rental Market Rules: How Bill 14 Affects You
The BC rental market is buzzing with changes, especially with the recent passing of Bill 14 – Tenancy Statutes Amendment Act, 2024. Let’s break down what these changes mean for you and why having an experienced realtor is more important than ever. What’s Changing with the RTA While it is advisable to read the entire…
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June 2024 Vancouver Real Estate Market Recap
What happened in June 2024 in the Greater Vancouver Housing Market? Sales Down, Inventory Up: June 2024 saw a 24% decrease in sales compared to the 10-year average, while inventory increased by 20%, which should theoretically put downward pressure on prices. Price Changes: Overall pricing is up year-over-year, with detached homes seeing a 3.7% increase,…
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What Happens After Your Offer Is Accepted
You’ve made an offer on a property, what happens when it’s accepted? You searched months for the perfect home, high and low, finally found the perfect one, you make it through negotiations and finally heard those 2 exciting words: ‘Accepted Offer’ Congratulations!….but now what? The Subject Period An offer can be drafted with or without…
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April 2024 Vancouver Real Estate Market Recap
What happened in April 2024 in the Greater Vancouver Housing Market? Listings Surge: April 2024 saw a significant increase in inventory, with new listings up by 64.7% and total inventory rising by 42% year-over-year, and a 16.7% above the ten-year average for April Sales Trends: While sales rose modestly by 3.3% from last year, they…
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March 2024 Vancouver Real Estate Market Recap
What happened in March 2024 in the Greater Vancouver Housing Market? Sales are down 4.7% from March 2023 New listings up 15.9% compared to March 2023 Total listings on the market up 22.5% compared to March 2023 Sales 23.3% below the 10 year seasonal average Detached Market Townhome Market Condo Market
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February 2024 Vancouver Real Estate Market Recap
What happened in February 2024 in the Greater Vancouver Housing Market? Sales are up 13.5% from February 2023 New listings up 31.1% compared to February 2023 Total listings on the market up 16.3% compared to February 2023 Sales 23.3% below the 10 year seasonal average Detached Market Townhome Market Condo Market
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BC Home Flipping Tax – Yay or Nay?
Let’s talk about everyone’s favorite topic: Taxes. Just not the kind due in spring of every year that your accountant looks forward to doing. This kind of tax is the kind that makes you yet again question the state of our Democracy in Canada. The newly announced BC Home Flipping tax, comes into effect on…
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January 2024 Vancouver Real Estate Market Recap
What happened in January 2024 in the Greater Vancouver Housing Market? Sales are up 38.5% from January 2023 New listings up 14.5% compared to January 2023 Total listings on the market up 9.8% compared to January 2023 Sales 20.2% below the 10 year seasonal average Detached Market Townhome Market Condo Market
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2023 Vancouver Real Estate Market Review
FROM THE REAL ESTATE BOARD OF GREATER VANCOUVER: Metro Vancouver housing market shows resilience in 2023, ending the year in balanced territory Metro Vancouver’s housing market closed out 2023 with balanced market conditions, but the year-end totals mask a story of surprising resilience in the face of the highest borrowing costs seen in over a…
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November 2023 Vancouver Real Estate Market Recap
What happened in November 2023 in the Greater Vancouver Housing Market? Sales are up 4.7% from November 2022 New listings up 9.8% compared to November 2022 Total listings on the market up 13.5% compared to November 2022 Sales 33% below the 10 year seasonal average Detached Market Townhome Market Condo Market
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October 2023 Vancouver Real Estate Market Recap
What happened in October 2023 in the Greater Vancouver Housing Market? Sales are up 3.7% from October 2022 New listings up 15.4% compared to October 2022 Total listings on the market up 12.6% compared to October 2022 Sales 29.5% below the 10 year seasonal average Detached Market Townhome Market Condo Market
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September 2023 Vancouver Real Estate Market Recap
What happened in September 2023 in the Greater Vancouver Housing Market? Sales are up 13.2% from September 2022 New listings up 28.4% compared to September 2022 Total listings on the market up 9.2% compared to September 2022 Sales 26.3% below the 10 year seasonal average Detached Market Townhome Market Condo Market
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How Interest Rates Impact Vancouver’s Real Estate Market
How Interest Rates Impact Vancouver’s Real Estate Market As expected in Vancouver, real estate is at the forefront of many investment conversations. Interest rates, while seemingly just a small percentage figure, have profound implications for our residential real estate market. Consider these two different scenarios: Low Interest Rates: When the economy experiences low-interest rates, we…
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Vancouver City Council Approves ‘Multiplexes’ to Address Housing Shortage
Vancouver City Council Approves ‘Multiplexes’ to Address Housing Shortage In a groundbreaking decision on September 14th, the Vancouver City Council unanimously approved a proposal aimed at alleviating the city’s housing shortage. This decision allows for the construction of ‘multiplexes’ in low-density neighbourhoods, marking a pivotal moment after years of discussions among city officials and staff…