VANCOUVER, BC – March 2, 2017 – Reluctance amongst Metro Vancouver* home sellers is impacting sale and price activity throughout the region’s housing market.
Residential home sales in the region totalled 2,425 in February 2017. This is a 41.9 per cent decrease from the record 4,172 homes sold in February 2016 and an increase of 59.2 per cent compared to January 2017 when 1,523 homes sold. Last month’s sales were 7.7 per cent below the 10-year February sales average.
“February home sales were well below the record-breaking activity from one year ago and in line with our long-term historical average for the month,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “Limited supply and snowy weather were two
factors hampering this activity.”
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Metro Vancouver housing market off to a quieter start than last year
VANCOUVER, BC – February 2, 2017
Home sales and listings trends are below long-term averages in the Metro Vancouver* housing market. This is due largely to reduced activity in the detached home market. Residential property sales in the region totalled 1,523 in January 2017, a 39.5 per cent decrease from the 2,519 sales recorded in January 2016 and an 11.1 per cent decrease compared to December 2016 when 1,714 homes sold. Last month’s sales were 10.3 per cent below our 10-year January sales average.
“From a real estate perspective, it’s a lukewarm start to the year compared to 2016,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “While we saw near record-breaking sales at this time last year, home buyers and sellers are more reluctant to engage so far in 2017.”
A heated year for Metro Vancouver real estate draws to a close! The Metro Vancouver* housing market had its third highest selling year on record in 2016, behind only 2015 and 2005. Sales of detached, attached and apartment properties in the region reached 39,943 in 2016, a 5.6 per cent decrease from the 42,326 sales recorded in 2015, and a 20.6 per cent increase over the 33,116 residential sales in 2014.
“It was an eventful year for real estate in Metro Vancouver. Escalating prices caused by low supply and strong home buyer demand brought more attention to the market than ever before,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said.
VANCOUVER, BC – December 2, 2016
Home buyer and seller activity remains near historical averages in the Metro Vancouver* housing market. Residential home sales in the region totalled 2,214 in November 2016, a decrease of 0.9 per cent from the 2,233 sales recorded in October 2016 and a decrease of 37.2 per cent compared to November 2015 when 3,524 homes sold. Last month’s sales were 7.6 per cent below the 10-year sales average for the month.
The passage of time has brought some innovations and advantages in the field of architectural design of private homes. Gradually, integrated spaces are gaining ground, and what once seemed impossible and unnecessary, today is a reality that makes many happy.Those with smaller spaces benefits from the merging of sections of the house to maximize space or at least have the appearance thereof. In addition, it is a fact that modern life is fast-paced, and we always ask that mobility within households is more practical and convenient, saving us from divisions and walls that no longer make sense.
VANCOUVER, BC – November 2, 2016 Reduced home sale and listing activity are changing market dynamics in communities across Metro Vancouver*. Residential property sales in the region totalled 2,233 in October 2016, a 38.8 per cent decrease from the 3,646 sales recorded in October 2015 and a 0.9 per cent decrease compared to September 2016 when 2,253 homes sold.
Last month’s sales were 15 per cent below the 10-year October sales average.
“Changing market conditions compounded by a series of government interventions this year have put home buyers and sellers in a holding pattern,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “Potential buyers and sellers are taking a wait-andseeapproach to try and better understand what these changes mean for them.”
VANCOUVER, BC – October 4, 2016 Metro Vancouver* home sales dipped below the 10- year monthly sales average last month. This is the first time this has occurred in the region since May 2014. Metro Vancouver home sales totalled 2,253 in September 2016, a decrease of 32.6 per cent from the 3,345 sales recorded in September 2015 and a decrease of 9.5 per cent compared to August 2016 when 2,489 homes sold. Last month’s sales were 9.6 per cent below the 10-year sales average for the month. “Supply and demand conditions differ today depending on property type,” Dan Morrison, REBGV president said. “We’re seeing more demand for condominiums and townhomes today than in the detached home market.”
Throughout his life, Antonio Martins of San Francisco-based Antonio Martins Interior Design, has been surrounded by beauty. Born in Portugal and raised in Brazil, he would live in Switzerland and Hong Kong before settling in the Bay Area. So, his knack for crafting spectacular interiors seems as natural as his organic approach.
This time around, his creative genius would shine on a modern structure in the Mission District. “It’s really in the middle of everything. It’s a great location with three condominiums in one building that has the feel of a freestanding home,” says Martins. At around 1,600 square feet, his client’s unit features several levels of unique architecture. “It has four floors that are kind of staggered with a really high ceiling in the living room,” he says.
September 2, 2016
For the second straight month, home buyer demand in Metro Vancouver* moved off of the record-breaking pace seen earlier this year and returned to more typical levels. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver totalled 2,489 in August 2016, a decline of 26 per cent compared to the 3,362 sales in August 2015; 10.2 per cent less than the 2,771 sales in August 2014; and one per cent less than the 2,514 sales in August 2013. August 2016 sales also represent a 22.8 per cent decline compared to last month’s sales. From a historical perspective, last month’s sales were 3.5 per cent below the 10-year sales average for the month.
Home sales move off of record-breaking pace in July VANCOUVER, BC – August 3, 2016 – Metro Vancouver* homes sales resembled more typical levels in July.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,226 in July 2016, a decrease of 18.9 per cent from the 3,978 sales recorded in July 2015 and a decrease of 26.7 per cent compared to June 2016 when 4,400 homes sold. This is the first time since January that home sales in the region have registered below 4,000 in a month.
A major remodel, new roof, new floors, and a very short timeline—it’s no wonder Charmean Neithart, owner of Charmean Neithart Interiors in South Pasadena, California, was a little worried when this project started. But the family, who bought this beach cottage as a vacation home, had faith in Neithart because of the work she had already done on their main home.
The family’s second home, located in the private community of Saint Malo in Oceanside, California, had not been updated in years and there was much deferred maintenance to tackle. To complicate the project, Saint Malo restricts when construction work can be done. During high season, from the end of May to early September, no construction projects, trucks, or crews are allowed in the neighborhood. When the owners approached Neithart, she had only two months available to complete the work.
Home buyers continue to compete for homes listed for sale across the Metro Vancouver housing market. Residential property sales in the region totalled 4,400 in June 2016, an increase of 0.6 per cent from the 4,375 sales recorded in June 2015 and a decrease of 7.7 per cent compared to May 2016 when 4,769 homes sold.
Last month’s sales were 28.1 per cent above the 10-year sales average for the month and rank as the highest selling June on record. "While we're starting to see more properties coming onto the market in recent months, theimbalance between supply and demand continues to influence market conditions," Dan Morrison REBGV president said.