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Market slowing down showing fewer listings and sales last month. 

Home buyers and sellers were less active in Metro Vancouver throughout the first quarter of 2018.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,517 in March 2018, a 29.7 per cent decrease from the 3,579 sales recorded in March 2017, and a 14 per cent increase compared to February 2018 when 2,207 homes sold.

 

Last month’s sales were 23 per cent below the 10-year March sales average.

 

There were 6,542 home sales on the Multiple Listing Service® (MLS®) in Metro Vancouver during the first quarter of 2018, a 13.1 per cent decrease from the 7,527 sales over the same period last year. This represents the region’s lowest first-quarter sales total since 2013.

 

“We saw less demand from buyers and fewer homes listed for sale in our region in the first quarter of the year,” Phil Moore, REBGV president said. “High prices, new tax announcements, rising interest rates, and stricter mortgage requirements are among the factors affecting home buyer and seller activity today.”

 

There were 4,450 detached, attached and apartment properties newly listed for sale in Metro Vancouver in March 2018. This represents a 6.6 per cent decrease compared to the 4,762 homes listed in March 2017 and a 5.4 per cent increase compared to February 2018 when 4,223 homes were listed.

 

There were 12,469 homes listed for sale in Metro Vancouver during the first quarter of 2018, a 0.8 per cent decrease from the 12,568 sales over the same period last year. This represents the region’s lowest first-quarter new listings total since 2013.

 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,380, a 10.5 per cent increase compared to March 2017 (7,586) and a 7.1 per cent increase compared to February 2018 (7,822).

 

“Even with lower demand, upward pressure on prices will continue as long as the supply of homes for sale remains low,” Moore said. “Last month was the quietest March for new home listings since 2009 and the total inventory, particularly in the condo and townhome segments, of homes for sale remains well below historical norms.”

For all property types, the sales-to-active listings ratio for March 2018 is 30 per cent. By property type, the ratio is 14.2 per cent for detached homes, 39.9 per cent for townhomes, and 61.6 per cent for condominiums.

 

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,084,000. This represents a 16.1 per cent increase over March 2017 and a 1.1 per cent increase compared to February 2018.

 

Sales of detached properties in March 2018 reached 722, a decrease of 37 per cent from the 1,150 detached sales recorded in March 2017. The benchmark price for detached properties is $1,608,500. This represents a 7.4 per cent increase from March 2017 and a 0.4 per cent increase compared to February 2018.

 

Sales of apartment properties reached 1,349 in March 2018, a decrease of 26.7 per cent compared to the 1,841 sales in March 2017. The benchmark price of an apartment property is $693,500. This represents a 26.2 per cent increase from March 2017 and a 1.6 per cent increase compared to February 2018.

 

Attached property sales in March 2018 totalled 446, a decrease of 24.1 per cent compared to the 588 sales in March 2017. The benchmark price of an attached unit is $835,300. This represents a 17.7 per cent increase from March 2017 and a two per cent increase compared to February 2018.

 

courtesy of the Real Estate Board of Greater Vancouver

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I have sold a property at 213 428 8TH AVE W in Vancouver.
The XL Lofts is a concrete, live/work, loft-style building located at 8th and Cambie, walking distance to Downtown and to all the great shops in the area, as well as the Cambie line. A very sought after building with a brand new roof, modern features, including an open courtyard, a gallery space and a workshop. This large, corner studio is 580 square feet, with a massive 180 square foot, south facing patio with street access. You will live comfortably in this freshly painted suite that comes with insuite laundry and one parking stall. The unit has an updated kitchen, bathroom, window coverings, fireplace insert and new floors. Rentals are allowed as well as 2 pets. Welcome!
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I have listed a new property at 213 428 8TH AVE W in Vancouver.
The XL Lofts is a concrete, live/work, loft-style building located at 8th and Cambie, walking distance to Downtown and to all the great shops in the area, as well as the Cambie line. A very sought after building with a brand new roof, modern features, including an open courtyard, a gallery space and a workshop. This large, corner studio is 580 square feet, with a massive 180 square foot, south facing patio with street access. You will live comfortably in this freshly painted suite that comes with insuite laundry and one parking stall. The unit has an updated kitchen, bathroom, window coverings, fireplace insert and new floors. Rentals are allowed as well as 2 pets. Open houses: Thursday March 8th 5:30-6:30, Sat & Sun March 10-11th 2-4pm.
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Please visit our Open House at 213 428 8TH AVE W in Vancouver.
Open House on Saturday, March 10, 2018 2:00PM - 4:00PM
The XL Lofts is a concrete, live/work, loft-style building located at 8th and Cambie, walking distance to Downtown and to all the great shops in the area, as well as the Cambie line. A very sought after building with a brand new roof, modern features, including an open courtyard, a gallery space and a workshop. This large, corner studio is 580 square feet, with a massive 180 square foot, south facing patio with street access. You will live comfortably in this freshly painted suite that comes with insuite laundry and one parking stall. The unit has an updated kitchen, bathroom, window coverings, fireplace insert and new floors. Rentals are allowed as well as 2 pets. Open houses: Thursday March 8th 5:30-6:30, Sat & Sun March 10-11th 2-4pm.
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Please visit our Open House at 213 428 8TH AVE W in Vancouver.
Open House on Sunday, March 11, 2018 2:00PM - 4:00PM
The XL Lofts is a concrete, live/work, loft-style building located at 8th and Cambie, walking distance to Downtown and to all the great shops in the area, as well as the Cambie line. A very sought after building with a brand new roof, modern features, including an open courtyard, a gallery space and a workshop. This large, corner studio is 580 square feet, with a massive 180 square foot, south facing patio with street access. You will live comfortably in this freshly painted suite that comes with insuite laundry and one parking stall. The unit has an updated kitchen, bathroom, window coverings, fireplace insert and new floors. Rentals are allowed as well as 2 pets. Open houses: Thursday March 8th 5:30-6:30, Sat & Sun March 10-11th 2-4pm.
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Home buyers were less active in February...

 

Metro Vancouver* home sales dipped below the long-term historical average in February.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,207 in February 2018, a nine per cent decrease from the 2,424 sales recorded in February 2017, and a 21.4 per cent increase compared to January 2018 when 1,818 homes sold.

 

Last month’s sales were 14.4 per cent below the 10-year February sales average. By property type, detached sales were down 39.4 per cent over the same period, attached sales were down 6.8 per cent, and apartment sales were 5.5 per cent above the 10-year February average.

 

“Rising interest rates and stricter mortgage requirements have reduced home buyers’ purchasing power, particularly for those at the entry level of our market,” Jill Oudil, REBGV president said. “Even still, the supply of apartment and townhome properties for sale today is unable to meet demand. On the other hand, our detached home market is beginning to enter buyers’ market territory.”

 

There were 4,223 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2018. This represents a 15.2 per cent increase compared to the 3,666 homes listed in February 2017 and an 11.2 per cent increase compared to January 2018 when 3,796 homes were listed.

 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,822, a three per cent increase compared to February 2017 (7,594) and a 12.6 per cent increase compared to January 2018 (6,947).

“The spring is traditionally the busiest time for home buyers and sellers in our market. We’ll wait to see how they react to the taxes and other policy measures that our provincial and federal governments have introduced so far this year,” Oudil said. “To help you navigate these changes in today’s housing market, it’s important to work with your local REALTOR®.”

 

For all property types, the sales-to-active listings ratio for February 2018 is 28.2 per cent. By property type, the ratio is 13 per cent for detached homes, 37.6 per cent for townhomes, and 59.7 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,071,800. This represents a 16.9 per cent increase over February 2017 and a 1.4 per cent increase compared to January 2018.

 

Sales of detached properties in February 2018 reached 621, a 16.6 per cent decrease from the 745 detached sales recorded in February 2017. The benchmark price for detached properties is $1,602,000. This represents an 8.2 per cent increase from February 2017 and is virtually unchanged from January 2018.

 

Sales of apartment properties reached 1,185 in February 2018, a 7.1 per cent decrease compared to the 1,275 sales in February 2017. The benchmark price of an apartment property is $682,800. This represents a 27.2 per cent increase from February 2017 and a 2.6 per cent increase compared to January 2018.

 

Attached property sales in February 2018 totalled 401, a 0.7 per cent decrease compared to the 404 sales in February 2017. The benchmark price of an attached unit is $819,200. This represents an 18.1 per cent increase from February 2017 and a 1.9 per cent increase compared to January 2018.

 

Courtesy of the Real Estate Board of Greater Vancouver

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I have sold a property at 461 ST. JAMES RD E in North Vancouver.
HERITAGE ESTATE FOR SALE! Rare opportunity to own a heritage lot adjacent to an old growth forest, for an additional 100'-140' of DNV evergreen park. This unique character home, on a 10,486 sq.ft. lot, built by the Guinness family, has been loved and cared for by purists. Bring your ideas and enjoy the most pristine and private lot in the upper Lonsdale corridor. South-facing, wraparound decks overlook your private creek; cedar, hemlock, vine maples can be seen from every window. This home has 3 additional play houses for the artists, gardeners and dreamers. Newly updated kitchen with Italian Carrara marble, stainless steel appliances. Genuine hardwood floors, Brazilian cherry, wildwood stained glass windows throughout in this truly unique heritage beauty.
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Buyer Demand Decreased for Houses, but Carries on for Condos...

Attached and apartment homes are in demand across Metro Vancouver* while detached home buyers are facing less competition today.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,818 in January 2018, a 19.4 per cent increase from the 1,523 sales recorded in January 2017, and a 9.8 per cent decrease compared to December 2017 when 2,016 homes sold.

 

Last month’s sales were 7.1 per cent above the 10-year January sales average. By property type, detached sales were down 24.8 per cent from the 10-year January average, attached sales increased 14.3 per cent and apartment sales were up 31.6 per cent over the same period.

 

“Demand remains elevated and listings scarce in the attached and apartment markets across Metro Vancouver,” Jill Oudil, REBGV president said. “Buyers in the detached market are facing less competition and have much more selection to choose. For detached home sellers to be successful, it’s important to set prices that reflect today’s market trends.”

 

There were 3,796 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2018. This represents an 8.3 per cent decrease compared to the 4,140 homes listed in January 2017 and a 100.7 per cent increase compared to December 2017 when 1,891 homes were listed.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,947, a four per cent decrease compared to January 2017 (7,238) and a 0.2 per cent decrease compared to December 2017 (6,958).

For all property types, the sales-to-active listings ratio for January 2018 is 26.2 per cent. By property type, the ratio is 11.6 per cent for detached homes, 32.8 per cent for townhomes, and 57.2 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $1,056,500. This represents a 16.6 per cent increase over January 2017 and a 0.6 per cent increase compared to December 2017.

 

Detached home sales in January 2018 reached 487, a 9.7 per cent increase from the 444 detached sales recorded in January 2017. The benchmark price for detached properties is $1,601,500. This represents an 8.3 per cent increase from January 2017 and a 0.3 per cent decrease compared to December 2017.

 

Apartment home sales reached 1,012 in January 2018, a 22.7 per cent increase compared to the 825 sales in January 2017. The benchmark price of an apartment property is $665,400. This represents a 27.4 per cent increase from January 2017 and a 1.5 per cent increase compared to December 2017.

 

Attached home sales in January 2018 totalled 319, a 25.6 per cent increase compared to the 254 sales in January 2017. The benchmark price of an attached unit is $803,700. This represents a 17.5 per cent increase from January 2017 and unchanged compared to December 2017.

 

Courtesy of the Real Estate Board of Greater Vancouver

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I have sold a property at 212 2665 BROADWAY W in Vancouver.
Location, location, location. Welcome to the Maguire building in the heart of Kitsilano! This quiet, newly renovated, 2 bedroom 2 bathroom suite features new hardwood flooring, new appliances, designer light fixtures and paint (and more). The open floor plan flows out to a huge (31' x 15') north-facing patio with mountain views. Quiet side of the building. 2 parking, 1 storage locker as well as insuite storage. Concrete building with pro-active strata. Walkscore of 97, walk to shopping, restaurants, coffee, transit and Kits Beach. Open Thursday Sept 28, 5:30-6:30pm, Saturday Sept 30 2-4pm and Sunday Oct 1, 2-4pm.
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I have sold a property at 947 HOMER ST in Vancouver.
Gorgeous 2 bedroom & Den townhouse in the heart of downtown Vancouver, close to shopping and all the amenities of city living. Walk to work or take in the Vancouver lifestyle, shops, and sporting events. Would be a great luxury urban home or executive rental investment. 24-hour concierge & gym for those early morning workouts. New appliances (fridge, stove, dishwasher), new floors, quartz countertops, carpets, paint, new Moen fixtures, and washer/dryer for the in suite laundry complete the recent updates. Gas fireplace incl. in strata fee. Move-in ready, quick possession possible & preferred. Pets and rentals over one month welcome. In-suite storage. Underground secure parking and visitors parking pass included. Open House Saturday Sept 16th 1-3pm & Sunday Sept 17th 2-4pm
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I have listed a new property at 303 116 23RD ST W in North Vancouver.
Welcome to the Addison, a 29 unit building with loads of character & charm, located close to all amenities in Central Lonsdale. This beautiful 860 square foot suite has 2 large bedrooms & 2 full bathrooms, spacious living room with a gas fireplace, dining room & designer kitchen with granite counters & stainless appliances. The property has recently been updated with new paint & concrete wall detailing in living room & bedroom, as well as lighting, new faucets, window coverings & California Closets to name a few. Comes with one parking stall & 1 spacious locker. You are welcome to view during the open houses on Saturday & Sunday, January 6 to 7th from 2-4pm or by appointment.
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Please visit our Open House at 303 116 23RD ST W in North Vancouver.
Open House on Saturday, January 6, 2018 2:00PM - 4:00PM
Welcome to the Addison, a 29 unit building with loads of character & charm, located close to all amenities in Central Lonsdale. This beautiful 860 square foot suite has 2 large bedrooms & 2 full bathrooms, spacious living room with a gas fireplace, dining room & designer kitchen with granite counters & stainless appliances. The property has recently been updated with new paint & concrete wall detailing in living room & bedroom, as well as lighting, new faucets, window coverings & California Closets to name a few. Comes with one parking stall & 1 spacious locker. You are welcome to view during the open houses on Saturday & Sunday, January 6 to 7th from 2-4pm or by appointment.
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Please visit our Open House at 303 116 23RD ST W in North Vancouver.
Open House on Sunday, January 7, 2018 2:00PM - 4:00PM
Welcome to the Addison, a 29 unit building with loads of character & charm, located close to all amenities in Central Lonsdale. This beautiful 860 square foot suite has 2 large bedrooms & 2 full bathrooms, spacious living room with a gas fireplace, dining room & designer kitchen with granite counters & stainless appliances. The property has recently been updated with new paint & concrete wall detailing in living room & bedroom, as well as lighting, new faucets, window coverings & California Closets to name a few. Comes with one parking stall & 1 spacious locker. You are welcome to view during the open houses on Saturday & Sunday, January 6 to 7th from 2-4pm or by appointment.
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Ana Domingos

Cell: 604-328-6330

Office: 604-629-6100

TRG-The Residential Group Realty

#101 - 1965 West 4th Avenue

Vancouver,BC

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