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Greater Vancouver – November 2018 Market Statistics

The market stats for November have arrived!

As we head towards Christmas, the housing market in Greater Vancouver is starting to slow for all property types. There are less buyers out there, less competition, and more options to choose from. It is a great time to buy, especially if you’re trying to make the jump from a condo to a house/townhouse!

According to REBGV, “The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales totalled 1,608 in the region in November 2018, a 42.5 per cent decrease from the 2,795 sales recorded in November 2017, and an 18.2 per cent decrease compared to October 2018 when 1,966 homes sold.” Compared to last November, the market has significantly cooled down. This can be attributed to a variety of reasons including the increasing interest rates, and new housing taxes being introduced/have already been introduced.

Call us today to chat about the market and your current options!

Click the link here for more market information, and to download the stats package for November!

Greater Vancouver – October 2018 Market Statistics

The market stats for October have arrived!

The market in Greater Vancouver is still in that transitionary stage. The number of active listings are starting to pile up to levels that we have not seen in our market for four years now. This means that buyers have a lot more choice and a better chance to negotiate for their benefit. Meanwhile, sellers face more competition as there are more listings and less active buyers out there.

According to REBGV, “residential home sales in the region totalled 1,966 in October 2018, a 34.9 per cent decrease from the 3,022 sales recorded in October 2017, and a 23.3 per cent increase compared to September 2018 when 1,595 homes sold.” A 34.9% decrease in the number of sales is a significant decrease compared to last year. This indicates that pricing your property properly is key in order for it to sell. Of course it depends on what type of property and where it is located,

Call us today to chat about the market and your current options!

Click the link here for more market information, and to download the stats package for October!