Time and time again we hear that the real estate market in Vancouver is confusing. I'm not so sure that it is. There are definitely confusing aspects of the market, at any point in time. It can be very confusing when listening to conflicting opinions on where the market is headed but generally speaking the market is not that confusing. Hopefully I can clear things up! In this video I go over the April 2024 stats, discussing listing and sales in East Vancouver and Vancouver West as well as the stats for the Lower Mainland.

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In this video I talk about the Spring Market which is typically our busiest time of year. Is that the case in 2024? I also touch on the landscape of mortgage rates. Are you holding out for lower rates? Why?

Make sure you're getting the right advice by analyzing both sides of the coin. If you're actively in the market to buy or sell real estate in Vancouver try to avoid headlines and instead seek market information for the property type, price point and neighbourhood(s) you want to move to or from.

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If it's helpful just reach out to me and I will set you up. For ease here's a link to my calendar.

Stats Package

Vancouver, Westside


East Vancouver

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Activity in the Vancouver real estate market has picked up quite a bit when compared to 2023. In February we saw more listings come to market however we also saw much more sales which means we are still yearning for more inventory.

Multiple Offers

Some buyers are finding themselves in competing situations. This is common in any market. The most attractive and well priced properties will always attract the majority of buyers. A couple of tips for you, try not to confuse the asking price for the actual value of the property. A seller can theoretically put their property on the market for any price they choose meaning they might decide to under value their property in order to generate multiple offers which will likely result in a sale over the…

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Curious about the current state of Greater Vancouver's real estate market? In this video, we delve into the highs and lows of 2023 and explore what's on the horizon for 2024.

2023 Recap: The peak of home prices hit in the Spring of 2022, just before interest rates began to climb. As anticipated, prices softened during this period. Historically, rising interest rates lead to price decreases, and vice versa. Despite 2023 seeing the highest interest rates in a decade, home prices rebounded, showcasing the resilience of the Vancouver market. Home prices across Greater Vancouver for all property types increased 5%. Where most of our clients live, Vancouver and South Surrey, prices increased 0.9% - 11.4% depending on property type.

Market Trends in…

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In this video, we'll shed some light on the current interet rates and how they're impacting the real estate scene. Plus, we'll address the million-dollar question: Is now the right time to buy or sell real estate in Vancouver? We'll also discuss the subject of timing the market. Join us as we break it all down. 

Rather than delving into specific statistics, our focus revolves around the prevalent topics dominating recent conversations. 

It's important to understand that each property type, neighbourhood and price point can perform differently. The best decisions are made after receiving and following market data for your specific market. We can assist with this, just reach out! Connect here.

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October numbers are in and it appears the market could be shifting to a balanced state, generally speaking. To be sure we'll have to see how the rest of the year plays out. It as been quite some time since anyone has considered our market to be balanced.

“With properties coming to market at a rate roughly five per cent above the ten-year seasonal average, there seems to be a continuation of the renewed interest on the part of sellers to participate in the market that we’ve been watching this fall,” Andrew Lis, REBGV’s director of economics and data analytics said. “Counterbalancing this increase in supply, however, is the fact sales remain almost 30 per cent below their ten-year seasonal average, which tells us demand is not as strong as we might…

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If you're financially ready to buy real estate and your life circumstances are telling you now is the time but you're frozen because interest rates are high and there is uncertainty in the market then this video is for you.

I compare interest rates with home prices over the last 10 years. I'm doing this to illustrate that when rates go down, prices go up. Low rates bring a competitive market, that only sellers love, and higher prices. The attached graph compares interest rates with the Housing Price Index (HPI) over the past decade, specifically from January 1, 2014, to the present. To provide an accurate representation of what purchasers would obtain, I used the 5-year fixed rate rather than posted rates. The HPI is a superior metric to average…

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As we navigate through 2023, one clear trend in the Vancouver real estate market is the ongoing discrepancy between the number of homes listed on the MLS (Multiple Listing Service) and the volume of actual sales. These figures continue to remain below the 10-year average. While various factors are at play, it is evident that much of the current market focus revolves around interest rates.

It's important to note that a significant portion of individuals engaging in real estate transactions are doing so out of necessity rather than mere preference. Life circumstances are often the driving force behind these decisions, compelling people to relocate.

One key factor influencing certain buyers' decisions is the expiration of their rate hold. Those who…

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The Greater Vancouver real estate market in February 2023 experienced a expected uptick, with sales and listing inventory both increasing compared to the previous month. However, sales are still significantly lower compared to the same period last year, which are attributed to various factors such as economic uncertainty and higher interest rates.

Sales were up 77% compared to January 2023 but down 47% compared to February of 2022. Listing inventory increased 5% compared to January 2023 and increased 16% compared to February 2022.

The fact that demand is currently outpacing new listings is leading to multiple offer situations but not like we experienced in recent history. We caution against assuming that the asking price is indicative of the actual…

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What’s an assignment? A transaction where a buyer “assigns” or transfers their rights and obligations of the Agreement of Purchase and Sale previously agreed upon, to another buyer before the original transaction closes/ completes.

Why would someone want to assign their contract? You’re purchasing the property with someone who is not available to sign the purchase agreement. You may want to reserve the right to assign the contract in whole or in part to them, you may want to have the property registered in a corporation for tax purposes or for profit.

We usually see buyers wanting to assign their contracts for a new development or presale property. That said, we also see them in resale transactions. 

In either case, the Vendor has to agree to…

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