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Greater Vancouver – January 2019 Market Statistics

The market stats for January are here!

REBGV have just released the first statistics of the year! As we are heading towards the frantic Spring market, things are starting to pick up in the market for Greater Vancouver. The number of new listings is starting to increase, while buyers are still holding off on buying.

According to REBGV, “residential home sales in the region totalled 1,103 in January 2019, a 39.3 per cent decrease from the 1,818 sales recorded in January 2018, and a 2.9 per cent increase from the 1,072 homes sold in December 2018”. January, like December, is also a slower month for real estate. However, January 2019 had the lowest amount of sales for January since 2009. “Last month’s sales were 36.3 per cent below the 10-year January sales average and were the lowest January-sales total since 2009.” Even though the number of sales is still on the lower end, it is starting to pick up as we’ve seen a 2.9% increase compared to last month, December 2018.

“For all property types, the sales-to-active listings ratio for January 2019 is 10.2 per cent. By property type, the ratio is 6.8 per cent for detached homes, 11.9 per cent for townhomes, and 13.6 per cent for condominiums.” With more properties currently on the market and there being less buyers, the sales-to-active ratio remains low for all property types. This means that proper marketing and exposure is key to getting your home sold. If you want to find out about our detailed marketing plan, give us a call today! You won’t be disappointed.

The increased number of listings on the market, and the lower number of sales means that good deals are able to be found in todays market. It has never been a greater time to buy property!!!

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 January!

Greater Vancouver – December 2018 Market Statistics

The market stats for December are here!

December is normally a slower period for the buying and selling of real estate. 2018 was no different, as December had a low number of sales seen for all property types. That being said, the number of active listings are starting to pile up, and 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, “residential home sales in the region totalled 1,072 in December 2018, a 46.8 per cent decrease from the 2,016 sales recorded in December 2017, and a 33.3 per cent decrease from November 2018 when 1,608 homes sold”. Even though December is normally a slower period, this past December was even slower than recent years. There was a 46.8% decrease in the number of sales compared to December 2017 which is a huge drop. In addition to the lower number of sales, the number of active listings is starting to pile up: “The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,275, a 47.7 per cent increase compared to December 2017 (6,958)”. The increased number of listings on the market, and the lower number of sales means that good deals are able to be found in todays market. It has never been a greater time to buy property!!!

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 December!

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!