Vancouver Real Estate Blog by Real Estate Agent Kevin Wong of Sutton Group - West Coast Realty http://www.greatervancouverhouses.com/Blog.php This page on www.GreaterVancouverHouses.com contains Real Estate blogs by Kevin Wong of Sutton Group-West Coast Realty. Tue, 24 Apr 2018 16:29:10 -0700 http://ubertor.com/?v=1.0 en 2801 1308 HORNBY STREET, Downtown VW, Vancouver West, BC NEW LISTING!! http://www.greatervancouverhouses.com/Blog.php/2801-1308-hornby-street-downtown-vw-vancouver-west-bc-new-listing Sun, 08 Apr 2018 06:22:15 -0700 Kevin Wong Listings http://www.greatervancouverhouses.com/Blog.php/2801-1308-hornby-street-downtown-vw-vancouver-west-bc-new-listing I just finished uploading this Condo for sale, 2801 1308 HORNBY STREET, Downtown VW, Vancouver West, BC

Upper level unit in the prestigious "Salt" by Concert Properties, amazing and unobstructed city, mountains, and water views to False Creek, Granville Island and English Bay. Unit is in excellent condition, just like new, with an efficient floor plan, 2 bedrooms & den. Featuring contemporary design, a moder kitchen and upscale appliance package. Centrally located in the vibrant & emerging downtown south area, walking distance to the seawall, Yale Town, English Bay etc..

]]>
4676 UNION STREET, Brentwood Park, Burnaby North, BC NEW LISTING!! http://www.greatervancouverhouses.com/Blog.php/4676-union-street-brentwood-park-burnaby-north-bc-new-listing Sun, 08 Apr 2018 06:20:39 -0700 Kevin Wong Listings http://www.greatervancouverhouses.com/Blog.php/4676-union-street-brentwood-park-burnaby-north-bc-new-listing I just finished uploading this House for sale, 4676 UNION STREET, Brentwood Park, Burnaby North, BC

View !!! 180 Degree unobstructed view. Close to school, transportation, close to Brentwood Mall, skytrain, restaurants, bank etc. Very well built with luxurious finsihing thru out the house. Very open concept with great functional layout. Spacious & cozy for your ideal home.

]]>
Fewer Home Sales and Listings in the First Quarter of 2018 http://www.greatervancouverhouses.com/Blog.php/fewer-home-sales-and-listings-in-the-first-quarter-of-2018 Wed, 04 Apr 2018 15:04:01 -0700 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/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.

Click here to download the full package.

]]>
BC Real Estate Association - February 2018 Housing Market Update http://www.greatervancouverhouses.com/Blog.php/bc-real-estate-association-february-2018-housing-market-update Thu, 15 Mar 2018 16:04:25 -0700 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/bc-real-estate-association-february-2018-housing-market-update ]]> Real Estate Board of Greater Vancouver - February 2018 Housing Market Update http://www.greatervancouverhouses.com/Blog.php/re Thu, 15 Mar 2018 16:01:17 -0700 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/re ]]> 1905 1238 SEYMOUR STREET, Downtown VW, Vancouver West, BC NEW LISTING!! http://www.greatervancouverhouses.com/Blog.php/1905-1238-seymour-street-downtown-vw-vancouver-west-bc-new-listing Tue, 06 Mar 2018 13:18:34 -0800 Kevin Wong Listings http://www.greatervancouverhouses.com/Blog.php/1905-1238-seymour-street-downtown-vw-vancouver-west-bc-new-listing I just finished uploading this Condo for sale, 1905 1238 SEYMOUR STREET, Downtown VW, Vancouver West, BC

Sweeping N,E, & S VIEW of mountain, park, False Creek, and vibrant city! Effectively 30th floor in height; very cool Yaletown bldg "SPACE". Walk to SKYTRAIN, Seawalk, Marina, restaurants, Coffee, Banks, theatres, Granville entertainment district, & Stanley Park. Covered all season fresh air balcony! Original interior with HW floor, perfect for one with artistic talent to make this into a beautiful home in the sky! Enough space for a 2ND bdrm/flex room with VIEW! 1 parking & 1 double height 16' locker! Pets & rental welcome!

]]>
2703 565 SMITHE STREET, Downtown VW, Vancouver West, BC NEW LISTING!! http://www.greatervancouverhouses.com/Blog.php/2703-565-smithe-street-downtown-vw-vancouver-west-bc-new-listing Tue, 06 Mar 2018 13:16:57 -0800 Kevin Wong Listings http://www.greatervancouverhouses.com/Blog.php/2703-565-smithe-street-downtown-vw-vancouver-west-bc-new-listing I just finished uploading this Condo for sale, 2703 565 SMITHE STREET, Downtown VW, Vancouver West, BC

Fantastic "private collection" sub penthouse at popular Vita. Nicely laid out tow bedroom and two and a half bathroom condo taking full advantage of the breathtaking views. You'll appreciate the 9'6 ceilings and the many floor to ceiling windows. Featuring air conditioning, gas fireplace, quality H/W floors, hidden Liebherr fridge, AEG 30" oven/gas top, large pantry/storage, island with eating bar, two balconies, luxurious 5 piece ensuite, 4 piece ensuite and 2 piece powder room. The bedrooms are well appointed plus a spacious office off the master. Comes with TWO secure underground parking stalls and more storage. The Vita is loaded with plenty of amenities including: hot tub, gym, playground, lounge etc. Open House: March 4, SUN, 14:00-16:00.

]]>
5760 HALIFAX STREET, Parkcrest, Burnaby North, BC NEW LISTING!! http://www.greatervancouverhouses.com/Blog.php/5760-halifax-street-parkcrest-burnaby-north-bc-new-listing Tue, 06 Mar 2018 13:15:38 -0800 Kevin Wong Listings http://www.greatervancouverhouses.com/Blog.php/5760-halifax-street-parkcrest-burnaby-north-bc-new-listing I just finished uploading this House for sale, 5760 HALIFAX STREET, Parkcrest, Burnaby North, BC

New listed on market! Custom built house on the slope. Spectacular view facing South Burnaby. This quality built house on the perfect corner lot on the slope, comes with HRV system, air condition, and radiant heat floor. Spacious 3700+ square feet, Well designed house with functional bedroom and full bathroom on each floor. Detach 2 car garage with lane way access. Open Kitchen + wok Kitchen. Close to skytrain. 15 minute ride to downtown. Quiet and friendly neighborhood. Priced to sell. Book for your showing today.

]]>
S612 2220 KINGSWAY STREET, Main, Vancouver East, BC SOLD!! http://www.greatervancouverhouses.com/Blog.php/s612-2220-kingsway-street-main-vancouver-east-bc-sold Tue, 06 Mar 2018 12:03:08 -0800 Kevin Wong Listings http://www.greatervancouverhouses.com/Blog.php/s612-2220-kingsway-street-main-vancouver-east-bc-sold I just sold this Condo at S612 2220 KINGSWAY STREET, Main, Vancouver East, BC Main.

View this recently sold Condo or see all my home sales

]]>
Home Buyers Were Less Active in February http://www.greatervancouverhouses.com/Blog.php/home-buyers-were-less-active-in-february Tue, 06 Mar 2018 11:00:10 -0800 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/home-buyers-were-less-active-in-february Metro Vancouver* home sales dipped below the long-term historical average in February.

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.

Click here to download the full package.

]]>
S612 2220 KINGSWAY STREET, Main, Vancouver East, BC NEW LISTING!! http://www.greatervancouverhouses.com/Blog.php/s612-2220-kingsway-street-main-vancouver-east-bc-new-listing Wed, 14 Feb 2018 12:55:10 -0800 Kevin Wong Listings http://www.greatervancouverhouses.com/Blog.php/s612-2220-kingsway-street-main-vancouver-east-bc-new-listing I just finished uploading this Condo for sale, S612 2220 KINGSWAY STREET, Main, Vancouver East, BC

Kensington Gardens by Westbank is an integrated urban community comprised of three unique residential towers, a collection of townhouses and a residential podium linked by an elevated landscaped courtyard, a new park and plaza. This fully Air Conditioned open plan 2 bedroom + den with large living area & north facing TWO balconies comes with Miele appliances thoughout, Quartz Countertops, H/W floors and expansive windows to maximize the dramatic views. Assignment of contract please call realtor for more information

]]>
BC Real Estate Association - January 2018 Housing Market Update http://www.greatervancouverhouses.com/Blog.php/bc-real-estate-association-january-2017-housing-market-update Tue, 13 Feb 2018 15:01:23 -0800 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/bc-real-estate-association-january-2017-housing-market-update ]]> Home Buyer Demand Depends on Property Type http://www.greatervancouverhouses.com/Blog.php/home-buyer-demand-depends-on-property-type Sat, 03 Feb 2018 16:32:05 -0800 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/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.

Click here to download the full package.

]]>
BC Real Estate Association - December 2017 Housing Market Update http://www.greatervancouverhouses.com/Blog.php/bc-real-estate-association-december-2017-housing-market-update Mon, 15 Jan 2018 10:40:00 -0800 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/bc-real-estate-association-december-2017-housing-market-update Real Estate Board of Greater Vancouver - December 2017 Housing Market Update http://www.greatervancouverhouses.com/Blog.php/real-estate-board-of-greater-vancouver-december-2017-housing-market-update Wed, 10 Jan 2018 10:26:01 -0800 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/real-estate-board-of-greater-vancouver-december-2017-housing-market-update Steady Sales and Diminished Listings Characterize 2017 for the Metro Vancouver Housing Market http://www.greatervancouverhouses.com/Blog.php/steady-sales-and-diminished-listings-characterize-2017-for-the-metro-vancouver-housing-market Wed, 03 Jan 2018 10:43:00 -0800 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/steady-sales-and-diminished-listings-characterize-2017-for-the-metro-vancouver-housing-market After reaching record levels in 2015 and 2016, Metro Vancouver home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity.

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a 9.9 per cent decrease from the 39,943 sales recorded in 2016, and a 15 per cent decrease over the 42,326 residential sales in 2015.

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a 9.9 per cent decrease from the 39,943 sales recorded in 2016, and a 15 per cent decrease over the 42,326 residential sales in 2015.

Last year’s sales total was, however, 9.7 per cent above the 10-year sales average.

“It was a steady year for home sales across the region, led by condominium and townhome activity, and a quieter year for home listings,” Jill Oudil, REBGV president said. “Metro Vancouver home sales were the third highest we’ve seen in the past ten years while the home listings total was the second lowest on record for the same period.”

Home listings in Metro Vancouver reached 54,655 in 2017. This is a 5.1 per cent decrease compared to the 57,596 homes listed in 2016 and a 4.5 per cent decrease compared to the 57,249 homes listed in 2015.

Last year’s listings total was 4.4 per cent below the 10-year listings average.

“Market activity differed considerably this year based on property type,” Oudil said. “Competition was intense in the condominium and townhome markets, with multiple offer situations becoming commonplace. The detached home market operated in a more balanced state, giving home buyers more selection to choose from and more time to make decisions.”

The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,050,300. This is up 15.9 per cent compared to December 2016.

The benchmark price of condominiums increased 25.9 per cent in the region last year. Townhomes increased 18.5 per cent and detached homes increased 7.9 per cent.

“Strong economic growth, low interest rates, declining unemployment, increasing wages and a growing population all helped boost home buyer demand in our region last year,” Oudil said.

December summary

Sales of detached, attached, and apartment properties totalled 2,016 in the region in December 2017, a 17.6 per cent increase from the 1,714 sales recorded in December 2016 and a 27.9 per cent decrease compared to November 2017 when 2,795 homes sold.

Last month’s sales were 7.5 per cent above the 10-year sales average for the month.

“As we move into 2018, REALTORS® are working with their clients to help them understand how changing interest rates and the federal government’s new mortgage qualifications could affect their purchasing power,” Oudil said. “Only time will tell what impact these rules will have on the market.

“Home buyers today should get pre-approved before making an offer to ensure that your home buying goals align with your financial situation,” Oudil said.

There were 1,891 residential homes newly listed for sale in December 2017. This represents a 44.1 per cent increase compared to the 1,312 homes listed in December 2016 and a 54 per cent decrease compared to November 2017 when 4,109 properties were listed.

The total number of homes currently listed for sale on the MLS® in Metro Vancouver is 6,958, a 9.7 per cent increase compared to December 2016 (6,345) and a 20.5 per cent decrease compared to November 2017 (8,747).

The sales-to-active listings ratio for December 2017 is 29 per cent. By property type, the ratio is 14.4 per cent for detached homes, 38.8 per cent for townhomes, and 59.6 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.

Sales of detached properties in December 2017 reached 617, a 14 per cent increase from the 541 detached sales recorded in December 2016. The benchmark price for a detached home in the region is $1,605,800. This represents a 7.9 per cent increase compared to December 2016.

Sales of apartment homes reached 1,028 in December 2017, a 12.3 per cent increase compared to the 915 sales in December 2016.The benchmark price of an apartment in the region is $655,400. This represents a 25.9 per cent increase compared to December 2016.

Attached (or townhome) property sales in December 2017 totalled 371, a 43.8 per cent increase compared to the 258 sales in December 2016. The benchmark price of an attached home in the region is $803,700. This represents an 18.5 per cent increase compared to December 2016.

Click here to download the full package.

]]>
Real Estate Board of Greater Vancouver - November 2017 Housing Market Update http://www.greatervancouverhouses.com/Blog.php/real-estate-board-of-greater-vancouver-november-2017-housing-market-update Sat, 09 Dec 2017 07:50:29 -0800 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/real-estate-board-of-greater-vancouver-november-2017-housing-market-update Metro Vancouver Continues to Experience Above-Average Demand and Below-Average Supply http://www.greatervancouverhouses.com/Blog.php/metro-vancouver-continues-to-experience-above-average-demand-and-below-average-supply Mon, 04 Dec 2017 15:40:43 -0800 Kevin Wong General http://www.greatervancouverhouses.com/Blog.php/metro-vancouver-continues-to-experience-above-average-demand-and-below-average-supply Metro Vancouver* saw modest home listing changes and steady demand in November.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016, and a 7.5 per cent decrease compared to October 2017 when 3,022 homes sold.

Last month’s sales were 17 per cent above the 10-year November sales average.

“We’re seeing steady demand in today’s market. Home buyer activity is operating above our long-term averages, particularly in our townhome and condominium markets,” Jill Oudil, REBGV president said.

There were 4,109 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2017. This represents a 30.6 per cent increase compared to the 3,147 homes listed in November 2016 and a 9.5 per cent decrease compared to October 2017 when 4,539 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,747, a 4.3 per cent increase compared to November 2016 (8,385) and a 4.3 per cent decrease compared to October 2017 (9,137).

“While we’re seeing more listings enter the market today than we saw at this time last year, we have a long way to go before our home listing inventory rises back to more historically typical levels,” Oudil said.

The sales-to-active listings ratio for November 2017 is 32 per cent, which is up three per cent since September 2017. By property type, the ratio is 15.9 per cent for detached homes (up one per cent since September 2017), 36.4 per cent for townhomes (down six per cent since September 2017), and 67.8 per cent for condominiums (up seven per cent since September 2017).

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 $1,046,900. This represents a 14 per cent increase over November 2016 and a 0.4 per cent increase compared to October 2017.

Sales of detached properties in November 2017 reached 841, a 31.8 per cent increase from the 638 detached sales recorded in November 2016. The benchmark price for detached properties is $1,608,000. This represents a 6.1 per cent increase from November 2016 and a 0.1 per cent decrease compared to October 2017.

Sales of apartment properties reached 1,508 in November 2017, a 25.7 per cent increase compared to the 1,200 sales in November 2016. The benchmark price of an apartment property is $648,200. This represents a 23.9 per cent increase from November 2016 and a one per cent increase compared to October 2017.

Attached property sales in November 2017 totalled 446, an 18.6 per cent increase compared to the 376 sales in November 2016. The benchmark price of an attached unit is $805,200. This represents a 17.9 per cent increase from November 2016 and a 0.3 per cent increase compared to October 2017.

Click here to download the full package.

]]>
West Cambie OPEN HOUSE!! http://www.greatervancouverhouses.com/Blog.php/west-cambie-open-house-1 Sat, 02 Dec 2017 09:36:39 -0800 Kevin Wong Listings http://www.greatervancouverhouses.com/Blog.php/west-cambie-open-house-1 We are proud to announce that this Dec 3rd, 2:00 PM to 4:00 PM we will be hosting an Open House at 308 9199 TOMICKI AVENUE in the West Cambie neighborhood, Richmond. This is an opportunity to visit this excellent Condo for sale in beautiful West Cambie.

Please come with any questions you may have. In the meantime you can take a virtual tour of this West Cambie Condo for sale.

As always please do not hesitate to give me a call at if I can answer any questions before the open house, or if you would like to book a private showing.

Kevin Wong
Sutton West Coast Realty

]]>
West Cambie OPEN HOUSE!! http://www.greatervancouverhouses.com/Blog.php/west-cambie-open-house Sat, 02 Dec 2017 09:36:18 -0800 Kevin Wong Listings http://www.greatervancouverhouses.com/Blog.php/west-cambie-open-house We are proud to announce that this Dec 2nd, 2:00 PM to 5:00 PM we will be hosting an Open House at 308 9199 TOMICKI AVENUE in the West Cambie neighborhood, Richmond. This is an opportunity to visit this excellent Condo for sale in beautiful West Cambie.

Please come with any questions you may have. In the meantime you can take a virtual tour of this West Cambie Condo for sale.

As always please do not hesitate to give me a call at if I can answer any questions before the open house, or if you would like to book a private showing.

Kevin Wong
Sutton West Coast Realty

]]>