new real estate rules protecting home buyers and Sellers

(June 15, 2018, posted in Tips)

New real estate rules took effect today that will change the way REALTORS® and their clients work together.

Specifically, the new rules will prohibit the practice of limited dual agency and require real estate licensees in BC to provide additional information to their clients about how they’re compensated.

The move to single agency is a significant change from the practice over the years when Realto... read more.

reduced demand

(June 14, 2018, posted in Vancouver Metro Real Estate)

Reduced demand is allowing housing supply to accumulate across Metro Vancouver today.  Let's take a closer look!

REALTOR's registered over 2,833 homes on MLS in May.  This is down 35% from the same period last year and 19% below our ten year May average.  

While Buyers are less active now than in recent years , Sellers have become more active. May saw 6,375 added to the MLS, bringing the total number of... read more.

how to defer your property taxes?

(June 13, 2018, posted in Tips)

Property taxes are due in early July. If you’re unable to pay your property taxes on your principal residence, you may be eligible for the BC Property Tax Deferment Program.

This is a low-interest loan program that lets qualifying property owners defer part, or all, of their property taxes on their principal residence.

There are two programs:

varied property conditions

(June 12, 2018, posted in West Vancouver Strata)

West Vancouver townhome inventory, availability is limited compared to North Vancouver.  As a result of insufficient townhome sale activity a monthly MLS House Price Index, HPI, bench mark prices cannot be produced.

In May there were 2 WV townhome sales in the $900,000 to $1,499,999 price band.  End of May townhome active listings included:
  • 1 in the $400,000 to $699,999 range,
  • 7 in the $900,000 to $1,4... read more.

selection increasing

(June 11, 2018, posted in North Vancouver Strata)

North Vancouver townhome sales in May totaled 36, down 14% from same month in 2017, similar to the month before and up 28.5% from the 10 Year Monthly Townhome Sales Average.  Year-to-date sales are similar to same period the year before, 143 and 141 respectively.

North Vancouver townhome new listings and end of month total active listings has increased each month as 2018 unfolds while monthly sale t... read more.

all-time highs

(June 10, 2018, posted in West Vancouver Strata)

In West Vancouver, total apartment sales were down 22% from May 2017.  

May sale price bands included:
  • 2 sales in the $200,000 to $399,999 range,
  • 3   "         "        $400,000 to $899,999 range,
  • 7   "         "         $900,000 to $1,499,999 range, 
  • 4   "         "         $1,500,000 to $1,999,999 range,
  • 4   "         "         $2,000,000 to $2,999,999 range and
  • 1   "         "         $4,000,000 to $4,999,999 range.
New listings rose 60.5% from May 2017 and up 34.5% from the 10 Year Monthly N... read more.

prices continue to push up

(June 09, 2018, posted in North Vancouver Strata)

North Vancouver's condominium (apartment ) market had 107 May sales and 215 active listings in the following price bands:

86..........$400,000 to $499,999 range
20..........$900,000 to $1499,999 range
1............$1,500,000 to 1,999,999 range

Active Listings
1..........$100,000 to $199,999 range
2..........$200,000 to $299,999 range
148......$400,000 to $899,999 range
51........$900,000 to $1,499,99... read more.

sales down & listings up

(June 08, 2018, posted in North Vancouver Homes)

One of the metrics that tell us whether we are in a buyer's, seller's, or balanced market is the Sales-to-Active Listings Ratio also known as Absorption Rate. It tells us the rate at which properties are selling. Expressed as a percentage, it's calculated by taking the total number of sales at the end of a given time period (usually the past 30 days) and dividing it by the total number of active l... read more.

signs of shifting

(June 07, 2018, posted in West Vancouver Homes)

Several factors influence our housing market, including mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies. All of these influence the supply and demand of the market which, in turn, affects prices.

There are three classifications experts use to describe the balance of supply and demand i... read more.

north shore real estate market update

(June 06, 2018, posted in North Shore)

In West Vancouver, there were 38 sales in the month of May. The sales to new listings ratio was 16% which represents a buyer’s market. For May 2018, the sales to total active listings percentage was 6%, a decrease from 14% in May 2017. Sales for May 2018 were down by 25 units compared to May 2017.

The West Vancouver listing inventory has increased by 78 homes compared to April 2018 and increased b... read more.

shifting market dynamics

(June 04, 2018, posted in Vancouver Metro Real Estate)

Home buyer demand continues to decline across the Metro Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,833 in May 2018, a 35.1 per cent decrease from the 4,364 sales recorded in May 2017, and a 9.8 per cent increase compared to April 2018 when 2,579 homes sold.

Last month’s sales were 19.3 per cent below t... read more.