Market Update

  • September 2017

  • September 2017 Market Update – Vancouver Real Estate

    September 10, 2017

    August 2017 Market Update The month of August is typically one of the slower parts of the year. It’s the end of summer and both realtors and their clients take the opportunity to slide in a final holiday. Despite that, we […]

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  • August 2017

  • August 2017 Market Update – Vancouver Real Estate

    August 10, 2017

    August 2017 Market Update As summer comes into full effect, the market is behaving pretty much as expected. Listing inventory is still tight in the city while sales are steady. Multiple offers are more common in the lower price ranges where […]

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  • July 2017

  • July 2017 Market Update – Vancouver Real Estate

    July 10, 2017

    July 2017 Market Update The incredible jump in house sales last month was short lived. While strength remains in the detached market the white hot fire continues under the townhouse and condo markets (nearly a 5% increase in prices of westside […]

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  • June 2017

  • June 2017 Market Update – Vancouver Real Estate

    June 2, 2017

    June 2017 Market Update It’s been a busy spring in Vancouver’s real estate market. On every front we are seeing signs of robust activity. Prices are up, sales are way up and inventory levels remain near historical lows. In fact, total […]

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  • May 2017

  • May 2017 Market Update – Vancouver Real Estate

    May 4, 2017

    The month of April saw the Vancouver real estate market continue to firm up after a winter lull. By nearly any measure, April was a strong month. Prices are rising in nearly every segment, sales are strong (albeit, slightly below […]

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  • April 2017

  • April 2017 Market Update – Vancouver Real Estate

    April 9, 2017

    Do you remember the one area of weakness that we mentioned last month? That was East Vancouver houses and it, too, has picked up in the last month (sales nearly doubling month-to-month). It’s becoming more and more apparent that the […]

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  • March 2017

  • March 2017 MARKET UPDATE – VANCOUVER REAL ESTATE

    March 10, 2017

    The statistics for the month of February reflect a market that is coming to life after a quieter fall and winter. In almost every meaningful measurement we are seeing an upward trajectory. The one area that continues to show weakness […]

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  • February 2017

  • February 2017 Market Update – Vancouver Real Estate Statistics

    February 2, 2017

    January 2017 Market Update Sales are down, new listings are down and so is total inventory. On all  fronts, we are at the lowest levels in the last ten years. That means that while sales are low, the amount of inventory is […]

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  • January 2017

  • January 2017 Market Update – Vancouver Real Estate

    January 13, 2017

    December 2016 Market Update 2016 ended with a resounding whimper. Just about every meaningful statistical measure fell in the month of December from the number of sales, new listings, total active listings to prices. This is not altogether unexpected as […]

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  • December 2016

  • December 2017 Market Update – Vancouver Real Estate

    December 2, 2016

     

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  • November 2016

  • Vancouver Real Estate in Historical Context

    Vancouver’s Current Real Estate Market in a Historical Context

    November 15, 2016

    Wading through the vast quantities of information available on the Vancouver real estate market can be confusing as well as daunting. In our opinion, much of that information fails to provide a long-term perspective instead focusing primarily on monthly fluctuations […]

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  • October 2016 Market Update – Vancouver Real Estate

    November 9, 2016

    Vancouver Real Estate October 2016 Market Update Did we mention that the market was becoming increasingly complex last month? It’s even more the case this month. Overall, the market is slower than what we saw in early 2016. The slowest […]

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  • October 2016

  • October 2016 Mortgage Update – Vancouver Real Estate

    October 14, 2016

    October 2016 Mortgage Update The federal government recently announced changes to rules regarding mortgage financing. As of October 17th, 2016 these changes will reduce the mortgage amount that buyers on high-ratio mortgages (putting <20% down) will be able to obtain. […]

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  • September 2016

  • August 2016 Market Update – Vancouver Real Estate

    September 1, 2016

    August 2016 Market Update The most recent Vancouver real estate statistics indicate a market that is adapting to a new reality. We can see evidence in these numbers that many took a wait and see approach (declining sales numbers). What […]

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  • AUGUST 2016 Market Update – Vancouver Real Estate

    September 1, 2016

    August 2016 Market Update August 2016 Market Update The August Vancouver Real Estate market statistics reflect a market that is adapting to a new reality. That reality is the introduction by the provincial government of the Foreign Investor Tax on August […]

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  • August 2016

  • Market Update – July 2016 was the slowest month in Vancouver Real Estate

    August 1, 2016

    Just about every statistic indicates that July 2016 was the slowest month in Vancouver real estate that we’ve seen in quite some time… Just about every statistic indicates that July 2016 was the slowest month we’ve seen in the Vancouver real estate […]

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  • June 2016

  • June 2016 Market Update – Vancouver Real Estate Statistics

    June 29, 2016

    June 2016 Market Update There was a lot of strength in the June numbers. Across the board, prices were up…in some cases extraordinarily so (+8.31% month-to-month for Townhouses). However, a few cracks are beginning to appear. Specifically, we are starting […]

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  • May 2016 Market Update – Vancouver Real Estate Statistics

    June 1, 2016

    May 2016 Market Update   Reviewing the May 2016 MLS statistics the glaring highlight is the month over month increase in detached house values. It was an astounding 8.27% in East Vancouver and 7.58% on the Westside. Those are shocking. […]

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  • May 2016

  • APRIL 2016 MARKET UPDATE – VANCOUVER REAL ESTATE STATISTICS

    May 1, 2016

    April 2016 Market Update March was a hard month to follow. That month set an all-time record for sales in the REBGV. April 2016 tempered that number somewhat but only by comparison. On it’s own, the numbers for April 2016 […]

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  • April 2016

  • Vancouver Real Estate Statistics

    March 2016 Market Update – Vancouver Real Estate Statistics

    April 1, 2016

    March 2016 Market Update Across the Real Estate Board of Greater Vancouver, March 2016 had the most number of sales ever recorded (for any month). They were also 56% above the 10-year average. Within Vancouver city limits, this is the highest […]

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  • March 2016

  • February 2016 Market Update – Vancouver Real Estate Statistics

    March 1, 2016

    February 2016 Market Update On all fronts February was another record-setting month in the Vancouver real estate market. For the month, sales were at their highest in the past decade as the number of active listings were at their lowest […]

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  • February 2016

  • The 2016 BC Budget and It’s Impact on Vancouver Real Estate

    February 17, 2016

    On February 16th the provincial government tabled it’s 2016 budget. As expected, there were some attempts to address the housing market in that budget. Specifically: No PTT on new construction priced under $750,000  Applies only to Canadian citizens or permanent […]

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  • January 2016 Market Update – Vancouver Real Estate Statistics

    February 1, 2016

    January 2016 Market Update 2016 has picked up right where 2015 left off. On paper, the numbers won’t knock your socks off…until you look more closely. Anecdotally, we’ve been noticing some extraordinary sales crossing our desk in the last month…particularly […]

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  • January 2016

  • December 2015 Market Update – Vancouver Real Estate Statistics

    January 1, 2016

    December 2015 Market Update Typically, our market has a very quiet month in December. This year was no different. However, when we compare this quiet month to others in the past it was actually one of the strongest in the […]

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  • December 2015

  • November 2015 Market Update – Vancouver Real Estate

    December 1, 2015

    November 2015 Market Update As expected the volume of sales is finally starting to ease up as we head into the holidays. The difference this year though is that the only reason is the lack of property available to actually buy. As […]

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  • September 2015

  • September 2015 Market Update – Vancouver Real Estate

    September 10, 2015

    Usually, we see an uptick in market activity come September as clients and realtors return to their typical schedules. This year appears to continue that historical pattern. Across the board we see increased activity as demonstrated by more listings and […]

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  • Vancouver Real Estate Statistics - August 2015

    August 2015 Market Update – Vancouver Real Estate

    September 4, 2015

    Summer is typically a slower time in the real estate market. In particular, August is usually the lull of the summer months. This year is no exception, but this is also relative. While this August is slower than the months […]

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  • July 2015

  • July 2015 Market Update – Vancouver Real Estate Statistics

    July 6, 2015

    July 2015 Market Update Over the past months, we’ve seen one of the hottest local housing markets in the past ten years. This has been largely driven by detached homes – both on the Westside and in East Van, but […]

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  • December 2014

  • December 2014 Market Update – Vancouver Real Estate

    December 20, 2014

    Duncan Brown's current news page and newsletter with predictions for Vancouver's downtown condo real estate market

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  • December 2014 Market Update – Vancouver Real Estate

    December 10, 2014

    Many areas have now seen average house price increases for the year enter double digits. Price rises on the Westside continue to come in waves (the top end of the market $4,000,000+ being particularly active lately), whereas on the Eastside it is a steadier, more predictable climb. 2015 looks to be more of the same unless factors outside the city force a change, primarily the Chinese economy.

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  • October 2014

  • Fall 2014 Market Update – Vancouver Real Estate

    October 2, 2014

    Land remains at a premium and while there are still specific "hot neighbourhoods" outperforming the rest, the sheer scale of the demand has reached the point where every neighbourhood within the Vancouver city limits is affected.

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  • April 2014

  • Spring 2014 Market Update – Vancouver Real Estate

    April 20, 2014

    As predicted in my last newsletter, the heavy demand for Eastside single family homes continues to produce competing offer scenarios and create upward pressure on prices. The price of both land and nicely renovated older homes continue to increase and another 10% in 2014 would not be surprising especially around Main Street and Fraser Street (the new Main!).

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  • December 2013

  • December 2013 Market Update – Vancouver Real Estate

    December 2, 2013

    For the first time in a while, the house and condo markets in Vancouver are following similar lines, so much of what is written above also applies to the Detached market on the Westside. The market has found a level to function at in almost every sector now. Local buyers and a steady but more modest influx of overseas buyers seem to have found some consensus, resulting in the most stable year price wise for some time. Of course this could all change should another larger wave of new Chinese buyers arrive and house values could increase.

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  • Winter 2013 Market Update – Vancouver Real Estate

    December 2, 2013

    For the first time in a while, the house and condo markets in Vancouver are following similar lines, so much of what is written above also applies to the Detached market on the Westside. The market has found a level to function at in almost every sector now. Local buyers and a steady but more modest influx of overseas buyers seem to have found some consensus, resulting in the most stable year price wise for some time. Of course this could all change should another larger wave of new Chinese buyers arrive and house values could increase.

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  • October 2013

  • Fall 2013 Market Update – Vancouver Real Estate

    October 20, 2013

    For the first time in a while, the house and condo markets in Vancouver are following similar lines, so much of what is written above also applies to the Detached market on the Westside. The market has found a level to function at in almost every sector now. Local buyers and a steady but more modest influx of overseas buyers seem to have found some consensus, resulting in the most stable year price wise for some time. Of course this could all change should another larger wave of new Chinese buyers arrive and house values could increase.

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  • April 2013

  • Spring 2013 Market Update – Vancouver Real Estate

    April 2, 2013

    After the wild fluctuations of the past couple of years (both up and down) the Westside detached market is having a more "normal" year so far. Prices adjusted down rapidly in the second half of 2012 and the market under $2,000,000 appears to have found a level function at. Land values also appear stable right now with a more balanced mix of local builders, long term local buyers, more recent arrivals and a smattering of new overseas buyers.

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  • December 2012

  • Winter 2012 Market Update – Vancouver Real Estate

    December 1, 2012

    The house market is a little harder to predict as it is less likely to follow historical lines due to the influence of outside factors, most specifically Chinese buyers. There is no doubt that Vancouver will continue to be a very attractive option for Chinese investors and their families but how and when they choose to buy is tougher to call. The global economic climate, the Chinese Economy, BC's prosperity vs other provinces and the tax implications in both countries are all major factors. However it�??s safe to say that for the most part the Chinese are here to stay and, as with the condo market, anyone looking long term has little to worry about. The challenge is avoiding getting burned by short term fluctuations or conversely becoming too preoccupied (dare I say greedy) by trying to take advantage of those same fluctuations. Eg: if you bought a house on the Westside in 2009 and sold it in 2011 you would likely have done very well. If you bought the same house in 2010 and sold it now, not so well. However if you bought any house before 2007 and sold it now you would have done very well and I believe that the same will apply if you buy almost any house in 2013 and sell it in 5-10 years time. It�??s like day trading vs Gold. In today�??s world one makes a lot more sense for most of us than the other, even more so when it�??s your home you are talking about.

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  • October 2012

  • Fall 2012 Market Update – Vancouver Real Estate

    October 1, 2012

    The house market on Vancouver�??s Westside turned very rapidly in April/May 2012. Buyers from Mainland China who had been the driving force behind sales for the past 5 years decided to sit back and some to cash out.

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  • April 2012

  • Spring 2012 Market Update – Vancouver Real Estate

    April 2, 2012

    AS PER MY LAST NEWSLETTER, STABILITY IS THE WORD AND ESSENTIALLY VERY LITTLE HAS CHANGED. The listing inventory is divided into 2 categories: a) homes which are unrealistically priced and sit for weeks even months on the market and b) homes right next door to them which are competitively priced and will sell in the first few days of the listing with competing offers, often still at significantly more than the list price.

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  • October 2011

  • October 2011 Market Update – Vancouver Real Estate

    October 1, 2011

    House Market: The detached market on Vancouver�??s Westside continues to hold firm despite numerous predictions (not mine)to the contrary...

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  • September 2011

  • Fall 2011 Market Update – Vancouver Real Estate

    September 2, 2011

    House Market: The detached market on Vancouver�??s Westside continues to hold firm despite numerous predictions (not mine)to the contrary...

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  • June 2011

  • Spring / Summer 2011 Market Update – Vancouver Real Estate

    June 2, 2011

    As predicted in my previous newsletter, the last quarter of 2010 turned out to be a great time to buy a condo in Vancouver! A new wave of buyers breathed life into the market starting in January, with activity really heating up in March.

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  • September 2010

  • Fall 2010 Market Update – Vancouver Real Estate

    September 2, 2010

    As predicted in my last newsletter, the condo market especially in the Downtown core has slowed significantly this year. The number of homes listed has exceeded the demand from buyers, so for now owners will have to lead the market and price lower than the competition in order to sell. This may result in a softening of prices especially over the winter months.

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  • April 2010

  • Spring 2010 Market Update – Vancouver Real Estate

    April 2, 2010

    Things have started well again in 2010 with a well balanced market providing strong sales volume and stable prices.

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  • December 2009

  • Winter 2009 Market Update – Vancouver Real Estate

    December 2, 2009

    The second half of 2009 has once again exceeded many people�??s expectations. Inventory levels have remained low and a steady flow of buyers attracted by low interest rates have continued to jump back in.

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  • August 2009

  • Summer 2009 Market Update – Vancouver Real Estate

    August 2, 2009

    The 4th quarter of 2008 was the toughest quarter in recent history for most markets in Canada including here in Vancouver, with very few sales and sharply declining prices. The first quarter of 2009 saw the market begin to stabilize but not many people predicted the huge increase in activity that would follow in the 2nd quarter.

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  • December 2008

  • Winter 2008 – Eight reasons Canadian banks will come out ahead

    December 8, 2008

    8 Reasons Canadian Banks Will Come Out Ahead 1. By law shares of large, publicly traded banks and insurance companies must be “widely held” which in effect prevents domestic mergers or foreign take-over’s unless supported by the federal finance minster; […]

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  • Winter 2008 – Eight Reasons to Buy Now

    December 2, 2008

    "Buy real estate and wait, don't wait and buy real estate"

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  • August 2008

  • Summer 2008 Market Update – Vancouver Real Estate

    August 11, 2008

    It has been an interesting spring. The official stats continue to support the idea of a balanced market with price increases in the 11% range versus the same time last year. However, in the trenches things look a little different. Under $500,000 the demand is still easily keeping up with the supply. However in many other price ranges, there are now an increasing number of listings and the average length of time on the market is growing.

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  • April 2008

  • Spring 2008 Market Update – Vancouver Real Estate

    April 2, 2008

    There are still plenty of Buyers (local, national and international) who are excited to buy in Vancouver and there is now sufficient choice for them that they will not be bullied into making poor buying decisions or paying over market value.

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  • September 2007

  • September 2007 Market Update – Vancouver Real Estate

    September 2, 2007

    The summer of 2007 was much stronger than the same period one year earlier. With prices increasing, but at a more sustainable rate, the market appears to be more balanced.

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  • May 2007

  • May 2007 Market Update – Vancouver Real Estate

    May 2, 2007

    As predicted in the last newsletter, following a much needed correction in the last quarter of 2006, the condo market has regained momentum and the volume of sales is back to record levels. Prices and market conditions, however, are quite different from one neighbourhood/micro market to the next, even within the confines of the City of Vancouver. The primary variable is supply (and potential supply).

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  • January 2007

  • January 2007 Market Update – Vancouver Real Estate

    January 2, 2007

    With some real choice for buyers, urgency to make a decision finally subsided, forcing sellers to either adjust their sights or sit back on the sidelines for a while.

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  • October 2006

  • Fall 2006 Market Update – Vancouver Real Estate

    October 2, 2006

    Despite concerns over the US housing market, we have yet to feel the effects in Vancouver.

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  • May 2006

  • May 2006 Market Update – Vancouver Real Estate

    May 2, 2006

    The market to date in 2006 has been sending us mixed messages. Overall the stats still bear out a familiar story - limited supply of property for sale, oversubscribed by anxious and frustrated buyers. This is still frequently leading to competing offers, bidding wars and record prices. Of particular note is the staggering jump in land values on the Westside. Typical 33' and 50' single family house lots have seen increases of as much as 15-20% in the last six months.

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  • January 2006

  • January 2006 Market Update – Vancouver Real Estate

    January 2, 2006

    2005 saw another very solid year of growth in the Vancouver market both in sales volume and median prices. Demand was high throughout the year and the lack of supply was the only limiting factor on the number of sales in any particular month. Assuming no major upward move in mortgage rates, more of the same in expected in 2006.

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  • October 2005

  • Fall 2005 Market Update – Vancouver Real Estate

    October 2, 2005

    Following on from the last issue, the question posed was how long would the spring market last this year? Well, we're in mid August and its still going strong! Competing offers are common place and the stats will likely reflect average price increases in 8-10% range right across the Vancouver market for the first half of 2005. To buy and sell most effectively under these market conditions means a major change in mind set for most consumers.

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  • April 2005

  • Spring 2005 Market Update – Vancouver Real Estate

    April 2, 2005

    Well, we're back! As predicted in the last issue, the correction has worked. To be more specific, since 2001, the market in Greater Vancouver has been rising swiftly (Jan 2001- Jan 2004 benchmark prices for condominiums rose by approx 50%). From Feb 2004-April 2004 competing offers forced prices up even further but at an unsustainable pace. As a result a correction was required. This was provided by a much slower final quarter of 2004 which returned some realism to the prices and allowed buyers to see some value again.

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  • October 2004

  • Fall 2004 Market Update – Vancouver Real Estate

    October 2, 2004

    After almost 3 years of intense heat, the big chill has arrived! Well not quite, but we are taking a bit of a breather. Our view on the frontline is that there is still a lot more to come over the next 10 years (I would not be at all surprised to see the prices at least 50% higher) but in order for that to happen the growth rate needs to be reasonable (5% per year not per month!).

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  • April 2004

  • Spring 2004 Market Update – Vancouver Real Estate

    April 2, 2004

    In 2003 the Real Estate Board of Greater Vancouver reported the highest number of transactions of any year on record. The most notable effect on values is in the condominium market. In the City of Vancouver (both East and West), the benchmark price for an apartment in January 2004 was up by exactly 50% from the same period 3 years earlier. Assuming interest rates remain at record lows, more of the same is anticipated for 2004.

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  • October 2003

  • Fall 2003 Market Update – Vancouver Real Estate

    October 2, 2003

    As most, if not all, of you are aware, building envelope failure has been an epidemic in the Lower Mainland over the past decade. A combination of factors led to numerous complexes having to undergo a total exterior retrofit under the new building code, using "rainscreen" technology to cope with our wet climate.

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  • February 2003

  • Spring 2003 Market Update – Vancouver Real Estate

    February 15, 2003

    As most, if not all, of you are aware, building envelope failure has been an epidemic in the Lower Mainland over the past decade. A combination of factors led to numerous complexes having to undergo a total exterior retrofit under the new building code, using "rainscreen" technology to cope with our wet climate.

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  • October 2002

  • Fall 2002 Market Update – Pre-Sale & Protecting your Investment

    October 2, 2002

    Pre-sale is a speculation�??pure and simple. If the market conditions are good, you will look like a genius. Buyers who purchased suites 2 years ago and are taking possession now, are very happy campers. Not only have the prices generally improved but the supply/demand ratio has totally flipped around. In 2000 the Downtown market was flooded with re-sale opportunites and there were very few buyers taking advantage.

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  • July 2002

  • Summer 2002 Market Update – Vancouver Real Estate

    July 2, 2002

    Just when you thought it was safe to go on vacation�?� we're back!

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  • May 2002

  • Spring 2002 Market Update – Vancouver Real Estate

    May 1, 2002

    Things are good and everybody is talking about it! Competing offers, a scarcity of listings and soaring prices�?� but when it hits the front page of the newspaper it's probably a fair guess that it's already over. In fact, the evidence is already out there to suggest that another change is coming. The number of listings is on the rise - the number of buyers is not. This should bring some much needed balance back into the market place. Over the past 6 months the pace has been frantic and if it hadn't slowed down on its own, we could have all been in for a nasty shock. 15-20% increases over 6 a month period are clearly not sustainable and something had to change.

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  • February 2002

  • January 2002 Market Update – Vancouver Real Estate

    February 2, 2002

    TD/Canada Trust released their economic forecast for 2002 and predicted Central Bank rates to remain low and perhaps even drop over the next 9 months, while bond rates would increase in anticipation of an economic recovery in both Canada and the U.S. (albeit small recover to begin in the last half of 2002). If they are correct, this would equate to lower rates on variable rate mortgages (5 years and up which are affected by changes in the bond markets). Deposit rates would be similarly affected, with shorter terms dropping and longer terms rising slightly.

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  • December 2001

  • December 2001 Market Update – Vancouver Real Estate

    December 2, 2001

    Can anything stop the recovery? Well, it would appear not. Despite the tragedy and uncertainty surrounding world events, there appears to be a real underlying strength in the Vancouver housing market, which is driving sales forward and prices upward.

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  • June 2001

  • June 2001 Market Update – Vancouver Real Estate

    June 2, 2001

    Right across the city and most definitely on the Westside, West End and Downtown, sales activity levels have soared. May 2001 was the busiest month for residential sales in Greater Vancouver for over 4 years. June's figures are expected to exceed that. Buyer's recognize that there is a change afoot and with little for sale in key neighbourhoods and less than a 1% rental vacancy rate, expect to see more pressure on prices in the coming months.

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  • March 2001

  • Spring 2001 Market Update – Vancouver Real Estate

    March 2, 2001

    More of the same? Throughout 2000 the condo market in central Vancouver continued to stabilize, with lower inventory and increased buyer activity and, now in 2001, still lower interest rates.

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  • August 2000

  • Summer 2000 Market Update – Vancouver Real Estate

    August 2, 2000

    The condo market continues its determination to recover, despite the obvious obstacles to consumer confidence in certain sectors. For those battling with such a dilemma, remember that while the quality of the building is an integral part of your decision, the land on which it stands, in most cases, accounts for over 60% of the value of your investment. Location is still the key.

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  • March 2000

  • Spring 2000 Market Update – Vancouver Real Estate

    March 2, 2000

    No, not like that. On the Westside/Downtown Vancouver everything is set for the millennium to kick off with a bang. Supply is continuing to shrink in both the condo and detached markets. Interest rates are creeping up but are still affordable for local buyers, as are the prices.

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  • November 1999

  • November 1999 Market Update – Vancouver Real Estate

    November 2, 1999

    Market stats for October report continuing good news across the Vancouver market. The number of condo sales in Vancouver West (includes Downtown) is up 71% over the same period last year. The number of listings shrank by 35% from September to October, so prices are holding firm - all very optimistic signs for the spring market next year.

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  • July 1999

  • Summer 1999 Market Update – Vancouver Real Estate

    July 2, 1999

    'Tis the season to buy real estate - or so it would appear by market activity levels. Single family still leads the recover on Vancouver's Westside with numerous tales of sales within hours and multiple offers. Condominiums are steadier with buyer caution understandably tempering any quick decisions. Nonetheless, with interest rates edging up and prices attractively low, the quality buildings are still selling well.

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  • April 1999

  • Spring 1999 Market Update – Vancouver Real Estate

    April 2, 1999

    CRYING OUT FOR CONDOS! As you can see from the market update report �?� what we need now in Central Vancouver are listings. Steady sales volume, limited listing inventory (off 33% from the same time last year) and fluctuation interest rates, are placing pressure on prices and created a real sense of urgency amongst buyers. Hotspots right now are still the perennial favourites - The West End and Kits are most active (especially West of Denman and North of 4th), proving once again that a good location is your best protection in any market.

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