what's happening in real estate?

(March 23, 2018, posted in BC Market Update)

Did you know?
  • Starting in January, 100 per cent of parking stalls in new Vancouver condo's are required to be electric vehicle ready.  The city previously required 20 per cent of parking to have charging capabilities.  The estimated cost to build an electric vehicle ready stall is $300 compared to $4000 to retrofit an existing parking stall.
  • The BC government's proposed speculation tax has been met wi... read more.

(January 03, 2018, posted in BC Market Update)

Check out what different experts are saying about B.C.'s 2018 real estate trend.....

An upward trend in housing prices isn’t expected to significantly change in British Columbia despite an anticipated slowdown in sales this year, economists say.

The B.C. Real Estate Association’s chief economist said Wednesday that new housing stock, slightly higher interest rates and tighter mortgage regulations wi... read more.

hot condo markets

(September 08, 2017, posted in BC Market Update)

The only thing hotter than the Lower Mainland weather this summer is the condo market, which saw scorching sales totals and price gains last month.

Condo sales were strongest in transit-friendly suburbs where condo buyers can purchase a slice of the urban lifestyle for a fraction of City of Vancouver prices.

In Greater Vancouver, the real estate board said first-time buyers drove sales gains as cond... read more.

elevated Home sale levels

(August 31, 2017, posted in BC Market Update)

The British Columbia Real Estate Association (BCREA) '2017 Third Quarter Housing Forecast' has just been released:

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 10 per cent to 100,900 units this year, after reaching a record 112,209 units in 2016. Strong economic fundamentals are underpinning consumer demand and are expected to keep home sales at elevate... read more.

supply not keeping pace with demand

(June 13, 2017, posted in BC Market Update)

The British Columbia Real Estate Association (BCREA) reports that a total of 12,402 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May, down 7.9 per cent from the same period last year. Total sales dollar volume was $9.33 billion, down 4.0 per cent from May 2017. The average MLS® residential price in the province was $752,536, a 4.2 per cent increase from the same... read more.