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BC speculation tax

(May 20, 2018, posted in Tips)

The speculation tax is expected to become law in the BC legislature this fall.


"Urban centres throughout the province are in a housing crisis. Rents and home
prices have surged past local incomes and, in many communities, vacancy rates sit
close to 0%.
Speculation has contributed to runaway prices and made it difficult for British
Columbians to find a home they can afford. This is hurting people, busin... read more.

stronger market segment

(May 16, 2018, posted in North Vancouver Strata)


Townhome total April sales in North Vancouver were up 9.5% from April 2017, up 20.5% from month before and up 25% from 10 Year Monthly Sales Average.  Total townhome sales ended the month up 8% from first four months of 2017.

New listings during April increased 19.5% from April 2017, up 32.5% from 10 Year Monthly New Listings Average. Townhome inventory total end of April was up 45.5% from April 201... read more.

sales down

(May 14, 2018, posted in West Vancouver Strata)


West Vancouver townhome sales this April were down 86% from April 2017 and down 75% from the 10 Year Monthly Sale Average.  

At any time West Vancouver strata options are limited in contrast to North Vancouver. For example, last year West Vancouver strata sale activity accounted for 32% of 756 property sales (includes houses, townhomes and apartments) compared to 61% for North Vancouver's 2,684 of wh... read more.

market inconsistencies

(May 12, 2018, posted in North Vancouver Strata)


North Vancouver apartment sales for this April.....
  • weakened a modest 5% from same month in 2017, 
  • declined 13.5 % from the month before, March 2018, and
  • up 22% from 10 Year Monthly Sales Average.
Total NV apartment sales for the first four months of the year were pretty much similar totals for 2017; 382 and 387 respectively.


North Vancouver sales totaled 382 for apartment sales, 232 detached homes and... read more.

demand constrained

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


Demand for all West Vancouver and North Vancouver property types (homes, apartments and townhomes) has pulled back this year as a result of recent:
  • federal changes to mortgage qualification requirements and increased interest rates;
  • provincial government introduction of a speculation tax, increase of property transfer and foreign buyer taxes.
West Vancouver total apartment sales this April was down 9... read more.

transitioning

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


In North Vancouver total house sales were down 30% this April from April 2017 and down 16% from the Ten Year Monthly Average respectively.  Not unlike the West Vancouver house market, North Vancouver home sales experienced their fourth straight month of declines year over year.

New listings during April were up 49% from the same time last year, while total listings ended the month up 44.5% from Apri... read more.

ups & downs

(May 06, 2018, posted in West Vancouver Homes)


In West Vancouver total April homes sales decreased 51.5% and 50% from same month last year and  the 10 Year Monthly Average respectively.  WV homes sales experienced their fourth straight month of declines year over year!

New listings for WV homes during April saw a sharp increase up 25.5% from April 2017, while total listings ended the month up 22% from the same time last year and up 45% from the T... read more.

North Shore real estate market update April 2018

(May 04, 2018, posted in North Shore)

In West Vancouver, there were 32 sales in the month of April. The sales to new listings ratio was 15% which represents a buyer’s market. For April 2018, the sales to total active listings percentage was 6%, a decrease from 16% in April 2017. Sales for April 2018 were down by 34 units compared to April 2017. 
 
The West Vancouver listing inventory has increased by 57 homes compared to March 2018 and in... read more.