I have listed a new property at 410 8851 LANSDOWNE RD in Richmond.
Immaculate 1 bedroom + den condo in the very popular Centrepointe complex. Home is south facing, super bright and features 784 SF of spacious living, newer laminate floors, floor to ceiling windows, den with built-in murphy bed, insuite laundry, outdoor balcony, 1 secured parking spot & 1 locker. Some views of the Garden City Parklands. Super low maint fees. Very well maintained concrete hi-rise with caretaker, outdoor swimming pool, hot tub, sauna, exercise centre & lounge. All this in an excellent location just steps to Kwantlen College, Lansdowne Mall, Walmart at Central at Garden City Mall, skytrain & buses.
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I have listed a new property at 10551 DENNIS CRES in Richmond.
OPEN HOUSE Sunday May 20th, 3pm - 5pm. STUNNING brand new 5 bedroom family home on a large 8111 SF lot & 3652 sq ft of spacious contemporary living! This bright & south-facing home has a open floor plan w/high ceilings in the grand entry, living & family rooms, wok kitchen, media room, den, 5.5 bathrooms, den & bed + full bath on the main floor. Great finishings with quality materials & detailed craftsmanship thoughtout. Features gourmet kitchen with huge island, quartz countertops, Jenn-Air SS appliances, glass staircase, feature fireplaces, air conditioning, triple garage, auto gate+ more. Within walking distance to Kidd Elementary, McNair Secondary & Whiteside Elementary for French Immersion & minutes to Ironwood Mall, Silver City & Entertainment Blvd & easy access to all Highways.
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I have listed a new property at 312 1355 BELLEVUE AVE in Vancouver.
WOW! This amazing 1 bedroom executive suite comes with 897 SF of spacious indoor living and a huge 477 SF outdoor terrace at the coveted Grosvenor at Ambleside! The sophisticated & sleek design features Snaidero cabinetry, WOLF, Subzero & Miele appliances, wine fridge, quartz countertops, wide plank oak hardwood floors, exquisite millwork, automated blinds & air conditioning. The spa-inspired bathroom has natural marble slab walls, wall-mounted toilet & Nuheat in-floor heating. Comes complete w/ an extra-wide parking spot & 1 locker. All this in the newest beachfront addition w/ 24 hour concierge, fitness centre, resident’s lounge and yoga space. Great location above Earl’s, Heirloom Vegetarian & Meinhardt’s Fine Foods and only steps to the boardwalk, beach and local shops.
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I have listed a new property at 94 9133 SILLS AVE in Richmond.
OPEN HOUSE SATURDAY May 12th, 3pm to 5pm. WOW! Super bright & clean 4 bedroom, 3.5 bathroom CORNER unit townhome with open exposures to the North, East & West and comes complete with a family room & double side x side garage! Features 1744 SF of spacious living, 9’ ceilings on the main floor, cozy electric fireplace, master w/ 2 large walk in closets, open kitchen with eating area, insuite laundry, security system & a huge balcony for those summer BBQ’s! All this in a fantastic well run complex with recently resurfaced balconies. All this in a great central location close to all amenities, shopping, buses & parks.
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I have listed a new property at 305 9232 UNIVERSITY CRES in Burnaby.

Popular Novo II by Intergulf located in heart of Burnaby SFU community. This 2 bedroom plus den unit offers home feeling with open concept kitchen, spacious and bright living space with trees and Burnaby city view. Walking distance to school, restaurants, coffee shops, grocery store and bus stops.

Intergulf 精心打造備受歡迎的Novo II,位於本那比西門菲莎大學社區的中心地帶。2 房加書房單位提供與開放式廚房,寬敞明亮的生活空間,擁有樹木和本那比城市景觀。步行到學校,各式餐館,多間咖啡店,雜貨店和巴士站。

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Home sales down, listings up across Metro Vancouver

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The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,579 in April 2018, a 27.4 per cent decrease from the 3,553 sales recorded in April 2017, and a 2.5 per cent increase compared to March 2018 when 2,517 homes sold.

 

Last month’s sales were 22.5 per cent below the 10-year April sales average.

 

“Market conditions are changing. Home sales declined in our region last month to a 17-year April low and home sellers have become more active than we’ve seen in the past three years,” Phil Moore, REBGV president said. “The mortgage requirements that the federal government implemented this year have, among other factors, diminished home buyers’ purchasing power and they’re being felt on the buyer side today.”

 

There were 5,820 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2018. This represents an 18.6 per cent increase compared to the 4,907 homes listed in April 2017 and a 30.8 per cent increase compared to March 2018 when 4,450 homes were listed.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,822, a 25.7 per cent increase compared to April 2017 (7,813) and a 17.2 per cent increase compared to March 2018 (8,380).

 

“Home buyers have more breathing room this spring. They have more selection to choose from and less demand to compete against,” Moore said.

 

For all property types, the sales-to-active listings ratio for April 2018 is 26.3 per cent. By property type, the ratio is 14.1 per cent for detached homes, 36.1 per cent for townhomes, and 46.7 per cent for condominiums.

 

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,092,000. This represents a 14.3 per cent increase over April 2017 and a 0.7 per cent increase compared to March 2018.

 

Sales of detached properties in April 2018 reached 807, a 33.4 per cent decrease from the 1,211 detached sales recorded in April 2017. The benchmark price for detached properties is $1,605,800. This represents a 5.1 per cent increase from April 2017 and a 0.2 per cent decrease compared to March 2018.

 

Sales of apartment properties reached 1,308 in April 2018, a 24 per cent decrease from the 1,722 sales in April 2017. The benchmark price of an apartment property is $701,000. This represents a 23.7 per cent increase from April 2017 and a 1.1 per cent increase compared to March 2018.

 

Attached property sales in April 2018 totalled 464, a 25.2 per cent decrease compared to the 620 sales in April 2017. The benchmark price of an attached unit is $854,200. This represents a 17.7 per cent increase from April 2017 and a 2.3 per cent increase compared to March 2018.   

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Fewer home sales and listings in the first quarter of 2018

Home buyers and sellers were less active in Metro Vancouver* throughout the first quarter of 2018.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,517 in March 2018, a 29.7 per cent decrease from the 3,579 sales recorded in March 2017, and a 14 per cent increase compared to February 2018 when 2,207 homes sold.

 

Last month’s sales were 23 per cent below the 10-year March sales average.

 

There were 6,542 home sales on the Multiple Listing Service® (MLS®) in Metro Vancouver during the first quarter of 2018, a 13.1 per cent decrease from the 7,527 sales over the same period last year. This represents the region’s lowest first-quarter sales total since 2013.

 

“We saw less demand from buyers and fewer homes listed for sale in our region in the first quarter of the year,” Phil Moore, REBGV president said. “High prices, new tax announcements, rising interest rates, and stricter mortgage requirements are among the factors affecting home buyer and seller activity today.”

 

There were 4,450 detached, attached and apartment properties newly listed for sale in Metro Vancouver in March 2018. This represents a 6.6 per cent decrease compared to the 4,762 homes listed in March 2017 and a 5.4 per cent increase compared to February 2018 when 4,223 homes were listed.

 

There were 12,469 homes listed for sale in Metro Vancouver during the first quarter of 2018, a 0.8 per cent decrease from the 12,568 sales over the same period last year. This represents the region’s lowest first-quarter new listings total since 2013.

 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,380, a 10.5 per cent increase compared to March 2017 (7,586) and a 7.1 per cent increase compared to February 2018 (7,822).

“Even with lower demand, upward pressure on prices will continue as long as the supply of homes for sale remains low,” Moore said. “Last month was the quietest March for new home listings since 2009 and the total inventory, particularly in the condo and townhome segments, of homes for sale remains well below historical norms.”

For all property types, the sales-to-active listings ratio for March 2018 is 30 per cent. By property type, the ratio is 14.2 per cent for detached homes, 39.9 per cent for townhomes, and 61.6 per cent for condominiums.

 

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,084,000. This represents a 16.1 per cent increase over March 2017 and a 1.1 per cent increase compared to February 2018.

 

Sales of detached properties in March 2018 reached 722, a decrease of 37 per cent from the 1,150 detached sales recorded in March 2017. The benchmark price for detached properties is $1,608,500. This represents a 7.4 per cent increase from March 2017 and a 0.4 per cent increase compared to February 2018.

 

Sales of apartment properties reached 1,349 in March 2018, a decrease of 26.7 per cent compared to the 1,841 sales in March 2017. The benchmark price of an apartment property is $693,500. This represents a 26.2 per cent increase from March 2017 and a 1.6 per cent increase compared to February 2018.

 

Attached property sales in March 2018 totalled 446, a decrease of 24.1 per cent compared to the 588 sales in March 2017. The benchmark price of an attached unit is $835,300. This represents a 17.7 per cent increase from March 2017 and a two per cent increase compared to February 2018. 

 

#jackychuang #jackyrealestate #vancouver #richmond #burnaby #coquitlam #surrey #realestateboard #realestate #marketupdate #remax #austinkayteam

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Metro Vancouver* home sales dipped below the long-term historical average in February.

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The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,207 in February 2018, a nine per cent decrease from the 2,424 sales recorded in February 2017, and a 21.4 per cent increase compared to January 2018 when 1,818 homes sold.

 

Last month’s sales were 14.4 per cent below the 10-year February sales average. By property type, detached sales were down 39.4 per cent over the same period, attached sales were down 6.8 per cent, and apartment sales were 5.5 per cent above the 10-year February average.

 

“Rising interest rates and stricter mortgage requirements have reduced home buyers’ purchasing power, particularly for those at the entry level of our market,” Jill Oudil, REBGV president said. “Even still, the supply of apartment and townhome properties for sale today is unable to meet demand. On the other hand, our detached home market is beginning to enter buyers’ market territory.”

 

There were 4,223 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2018. This represents a 15.2 per cent increase compared to the 3,666 homes listed in February 2017 and an 11.2 per cent increase compared to January 2018 when 3,796 homes were listed.

 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,822, a three per cent increase compared to February 2017 (7,594) and a 12.6 per cent increase compared to January 2018 (6,947).

“The spring is traditionally the busiest time for home buyers and sellers in our market. We’ll wait to see how they react to the taxes and other policy measures that our provincial and federal governments have introduced so far this year,” Oudil said. “To help you navigate these changes in today’s housing market, it’s important to work with your local REALTOR®.”

 

For all property types, the sales-to-active listings ratio for February 2018 is 28.2 per cent. By property type, the ratio is 13 per cent for detached homes, 37.6 per cent for townhomes, and 59.7 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,071,800. This represents a 16.9 per cent increase over February 2017 and a 1.4 per cent increase compared to January 2018.

 

Sales of detached properties in February 2018 reached 621, a 16.6 per cent decrease from the 745 detached sales recorded in February 2017. The benchmark price for detached properties is $1,602,000. This represents an 8.2 per cent increase from February 2017 and is virtually unchanged from January 2018.

 

Sales of apartment properties reached 1,185 in February 2018, a 7.1 per cent decrease compared to the 1,275 sales in February 2017. The benchmark price of an apartment property is $682,800. This represents a 27.2 per cent increase from February 2017 and a 2.6 per cent increase compared to January 2018.

 

Attached property sales in February 2018 totalled 401, a 0.7 per cent decrease compared to the 404 sales in February 2017. The benchmark price of an attached unit is $819,200. This represents an 18.1 per cent increase from February 2017 and a 1.9 per cent increase compared to January 2018.



#jackychuang #jackyrealestate #vancouver #realestate #remax #austinkayteam

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Info-Jan-2018-portal
 

Home buyer demand depends on property type

Attached and apartment homes are in demand across Metro Vancouver* while detached home buyers are facing less competition today.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,818 in January 2018, a 19.4 per cent increase from the 1,523 sales recorded in January 2017, and a 9.8 per cent decrease compared to December 2017 when 2,016 homes sold.

 

Last month’s sales were 7.1 per cent above the 10-year January sales average. By property type, detached sales were down 24.8 per cent from the 10-year January average, attached sales increased 14.3 per cent and apartment sales were up 31.6 per cent over the same period.

 

“Demand remains elevated and listings scarce in the attached and apartment markets across Metro Vancouver,” Jill Oudil, REBGV president said. “Buyers in the detached market are facing less competition and have much more selection to choose. For detached home sellers to be successful, it’s important to set prices that reflect today’s market trends.”

 

There were 3,796 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2018. This represents an 8.3 per cent decrease compared to the 4,140 homes listed in January 2017 and a 100.7 per cent increase compared to December 2017 when 1,891 homes were listed.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,947, a four per cent decrease compared to January 2017 (7,238) and a 0.2 per cent decrease compared to December 2017 (6,958).

For all property types, the sales-to-active listings ratio for January 2018 is 26.2 per cent. By property type, the ratio is 11.6 per cent for detached homes, 32.8 per cent for townhomes, and 57.2 per cent for condominiums.

 

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $1,056,500. This represents a 16.6 per cent increase over January 2017 and a 0.6 per cent increase compared to December 2017.

 

Detached home sales in January 2018 reached 487, a 9.7 per cent increase from the 444 detached sales recorded in January 2017. The benchmark price for detached properties is $1,601,500. This represents an 8.3 per cent increase from January 2017 and a 0.3 per cent decrease compared to December 2017.

 

Apartment home sales reached 1,012 in January 2018, a 22.7 per cent increase compared to the 825 sales in January 2017. The benchmark price of an apartment property is $665,400. This represents a 27.4 per cent increase from January 2017 and a 1.5 per cent increase compared to December 2017.

 

Attached home sales in January 2018 totalled 319, a 25.6 per cent increase compared to the 254 sales in January 2017. The benchmark price of an attached unit is $803,700. This represents a 17.5 per cent increase from January 2017 and unchanged compared to December 2017.


#jackychuang #jackyrealestate #vancouver #realestate #remax #austinkayteam

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Image result for real estate inventory low

 

Home prices in Metro Vancouver are expected to rise again in 2018, as “exceptionally” low inventory pushes up cost, according to Royal Lepage’s latest market forecast.

 

The real estate agency’s survey, released Wednesday, says prices increased in the fourth quarter of 2017, and predicts prices will continue to go up by 5.2 per cent by the end of the year.

 

The survey found that the aggregate home price in Greater Vancouver increased 8.2 per cent to $1,267,769 in the three months leading up to December, compared with the same period last year.

 

The largest increase was in the median price of a condo, which surged 20.2 per cent during those months to $651,885. The increases were highest in North Vancouver (26.8 per cent) followed by Burnaby (25.1 per cent) Langley (23.4 per cent) Richmond (19.5 per cent) and Coquitlam (18.8 per cent.)

 

The cost of a bungalow in Metro Vancouver went up 5.3 per cent to $1,436,606, while a two-storey home increased 6.6 per cent to $1,586,991.

 

The survey found there was double-digit growth in the city of Vancouver, where prices rose 12 per cent to $1,480,712, and in Burnaby and Coquitlam, rising 10.3 per cent and 11.1 per cent year-over-year to $1,115,541 and $1,064,247, respectively.

 

Surrey’s aggregate home price also saw a double-digit increase in the fourth quarter, rising 10.7 per cent to $844,869.

 

As buyers continued to search for reasonably priced homes near the downtown core, home values went up 5.7 per cent in North Vancouver to $1,459,570. Yet it was the area’s condominium growth that stood out. The survey says North Vancouver posted one of the largest annual gains of any property segment tracked in the nation, surging 26.8 per cent to $673,313.

 

Royal LePage says the prospect of new mortgage rules making it more difficult to purchase a home may have drawn prospective homeowners back into the market to compete for somewhat affordable property.

 

The agency’s general manager Randy Ryalls says home values have continued to strengthen in the region, particularly in the entry-level market where competition for available property is stiff.

 

“With each passing day, purchasers are becoming more attuned to the new price environment and consumer confidence strengthens,” he said in a release Wednesday.

 

“Until something is done to address current inventory levels, we will likely continue to see significant home price growth in Greater Vancouver’s future, even if demand is reined in,” said Ryalls.

 

On Jan. 1, new mortgage rules imposed by the Office of the Superintendent of Financial Institutions came into effect. The rules, which limit a buyer’s ability to purchase a home, are aimed at curbing Canadians’ debt levels.

Ryalls said that although the new rules may slow errant home-purchasing behaviour, it’s unlikely to bring prices down, and will push more buyers into the entry-level market, causing the price of condos and townhomes to inflate further.

 

#jackychuang #jackyrealestate #vancouver #realestate #remax #teamaustinkay

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Percentage of money

 
 

January 17 saw the third Bank of Canada overnight interest rate rise in the space of just over six months, on the back of the strengthening economy.

This will likely lead lenders to raise their prime rates, which in turn will raise variable-rate mortgages, while the Big Six banks have already increased their posted fixed rates.

 

So how much will all this cost the average homeowner?

 

Responding to the first of the three recent rate increases, local mortgage expert Dustan Woodhouse said, “It’s not about the interest rate, that shouldn’t concern you – it’s about the effect that interest rate rise will have on the payment you make on your mortgage.”

 

Woodhouse said, “A quarter-point interest rate movement represents $13 per month, per $100,000 mortgage, for the average [variable-rate] mortgage holder. So that’s $52 bucks a month extra on the average $400,000 mortgage balance.”

 

This might not sound like a big payment shock, but add that to the previous two rate rises, and variable-rate mortgage holders with a $400K balance could now be paying on average $156 a month more than they were just over six months ago.

 

‘Few will be affected’


However, Woodhouse also pointed out at the time that the majority of local homeowners won’t be affected by an interest rate rise, as 50 per cent have no mortgage, and more than 80 per cent of the remaining mortgage payers are on a five-year fixed rate.

 

He observed that fixed-rate mortgage holders who are nearing the end of that five-year term will have locked in at a rate comparable to today’s interest rate, when they initially took out the mortgage four or five years ago, so they will see little or no payment shock when renewing. And those who are near the beginning of the term, already fixed at low rates, have time to adjust and pay down some capital before renewing.

 

Even the small margin of home owners who are currently on a variable rate mortgage might not see any payment increase either, according to Woodhouse. Many lenders’ variable-rate mortgages don’t increase monthly payments with a rise in interest rates – they just mean the owners pay back a little more interest and a little less principal each month.

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Home buyer demand continues to differ based on housing type

 

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Apartment and townhome activity is outpacing the detached home market across Metro Vancouver*. This activity helped push total residential sales above the historical average in September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,821 in September 2017, a 25.2 per cent increase from the 2,253 sales recorded in September 2016, and a 7.3 per cent decrease compared to August 2017 when 3,043 homes sold.

Last month’s sales were 13.1 per cent above the 10-year September sales average.

“Our detached homes market is balanced today, while apartment and townhome sales remain in sellers' market territory,” Jill Oudil, REBGV president said. “If you’re looking to enter the market, as either a buyer or seller, it’s important to understand these trends and use this information to set realistic expectations.”

There were 5,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2017. This represents a 12 per cent increase compared to the 4,799 homes listed in September 2016 and a 26.6 per cent increase compared to August 2017 when 4,245 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,466, a 1.2 per cent increase compared to September 2016 (9,354) and a 7.5 per cent increase compared to August 2017 (8,807).

“Detached homes made up 30 per cent of all sales in September and represented 62 per cent of all the homes listed for sale on the MLS®,” said Oudil. “This dynamic has slowed the pace of upward pressure that we’ve seen on detached home prices in our market over the last few years.”

For all property types, the sales-to-active listings ratio for September 2017 is 29.8 per cent. By property type, the ratio is 14.6 per cent for detached homes, 42.3 per cent for townhomes, and 60.4 per cent for apartments.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,037,300. This represents a 10.9 per cent increase over September 2016 and a 0.7 per cent increase compared to August 2017.

Sales of detached properties in September 2017 reached 852, a 27.9 per cent increase from the sales recorded in September 2016 (666), a decrease of 33 per cent from September 2015 (1,272), and a decrease of 32.9 per cent from September 2014 (1,270). The benchmark price for detached properties is $1,617,300. This represents a 2.9 per cent increase from September 2016 and a 0.1 per cent increase compared to August 2017.

Sales of apartment properties reached 1,451 in September 2017, a 19.1 per cent increase compared from the sales recorded in September 2016 (1,218), a 5.1 per cent decrease from September 2015 (1,529), and a 22.1 per cent increase from September 2014 (1,188). The benchmark price of an apartment property is $635,800. This represents a 21.7 per cent increase from September 2016 and a 1.4 per cent increase compared to August 2017.

Attached property sales in September 2017 totalled 518, a 40.4 per cent increase compared to the sales recorded in September 2016 (369), a 4.8 per cent decrease from September 2015 (544), and an 11.6 per cent increase from September 2014 (464). The benchmark price of an attached home is $786,600. This represents a 14.5 per cent increase from September 2016 and a 1.1 per cent increase compared to August 2017.

Editor's Note

Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.

The real estate industry is a key economic driver in British Columbia. In 2016, 39,943 homes changed ownership in the Board’s area, generating $2.5 billion in economic spin-off activity and an estimated 17,600 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $40 billion in 2016.

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Demand for homes continues to outpace supply in Metro Vancouver

 

Residential property sales in the region totalled 3,579 in March 2017, a decrease of 30.8 per cent from the 5,173 sales recorded in record-breaking March 2016 and an increase of 47.6 per cent compared to February 2017 when 2,425 homes sold.

 

Last month’s sales were 7.9 per cent above the 10-year sales average for the month.

“While demand in March was below the record high of last year, we saw demand increase month-to-month for condos and townhomes,” Jill Oudil, Real Estate Board of Greater Vancouver (REBGV) president said. “Sellers still seem reluctant to put their homes on the market, making for stiff competition among home buyers.”

 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,762 in March 2017. This represents a decrease of 24.1 per cent compared to the 6,278 units listed in March 2016 and a 29.9 per cent increase compared to February 2017 when 3,666 properties were listed.

 

This is the lowest number of new listings in March since 2009.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,586, a 3.1 per cent increase compared to March 2016 (7,358) and a 0.1 per cent decrease compared to February 2017 (7,594).

The sales-to-active listings ratio for March 2017 is 47.2 per cent, a 15-point increase over February. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

 

“Home prices will likely continue to increase until we see more housing supply coming on to the market,” Oudil said.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $919,300. This represents a 0.8 per cent decrease over the past six months and a 1.4 per cent increase compared to February 2017.

 

Sales of detached properties in March 2017 reached 1,150, a decrease of 46.1 per cent from the 2,135 detached sales recorded in March 2016. The benchmark price for detached properties is $1,489,400. This represents a 5.0 per cent decrease over the past six months and a one per cent increase compared to February 2017.

 

Sales of apartment properties reached 1,841 in March 2017, a decrease of 18.3 per cent compared to the 2,252 sales in March 2016.The benchmark price of an apartment property is $537,400. This represents a 5.2 per cent increase over the past six months and a 2.1 per cent increase compared to February 2017.

 

Attached property sales in March 2017 totalled 588, a decrease of 25.2 per cent compared to the 786 sales in March 2016. The benchmark price of an attached unit is $685,100. This represents a 1.3 per cent increase over the past six months and a 1.4 per cent increase compared to February 2017.

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