by Macrealty Marketing Team | Feb 5, 2018 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on North Delta, Surrey, White Rock, Langley, and Fraser Valley listings and sales in January 2018.
North Delta
In the North Delta market, the benchmark sale price was $941,000 for detached homes. At the end of the month, there were 101 active listings and 20 sales.
The condo market had 10 sales and 14 active listings. The benchmark sale price was $375,000.
Townhomes featured 4 sales, 10 active listings and a $561,400 benchmark sale price.
It’s a seller’s market in North Delta for Condos and Townhomes.
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by Macrealty Marketing Team | Feb 4, 2018 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in January 2018.
Greater Victoria
In January 2018, there were 175 sales of single family homes and 429 active listings in the Greater Victoria. The benchmark sale price was $702,200 with an average days on market of 42. The hottest market for sales was Langford with 32 sales. There were also 12 sales and 90 active listings at the end of the month for waterfront homes.
In comparison, the Condo market had 118 sales, 229 active listings at the end of the month. The benchmark sale price was $450,600 with an average days on market of 23. The hottest market for sales was Victoria, 43 sales.
Townhome sales were 62, active listings were 94 and the benchmark sale price was $567,400. The average days on market were 46, and the hottest market was Langford with 17 sales.
It’s a seller’s market in Victoria.
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by Macrealty Marketing Team | Sep 13, 2016 | Market Updates
The residential areas of Downtown Vancouver comprise 3 main areas:
- Yaletown – which borders the north side of False Creek and much of it originally was developed by Concord Pacific after the Expo 86 World’s Fair;
- Coal Harbour – which is the strip of newly developed condos north of West Georgia Street and West of Burrard Street; and
- The West End – which comprises the downtown core and west of Burrard Street.
It seems that the new 15% tax on “foreign” buyers has had very little impact on this market, especially with condos where the asking price is under $2 million. There are many reasons for this:
- Only 1-5% of the buyers in this segment traditionally have been “foreign”;
- More and more “empty nesters” from the West Side of Vancouver sell their homes after their children have moved out and downsize by moving downtown and retire on the capital gains earned by selling their detached homes;
- The buyers are from all backgrounds: local retired people, young singles and married couples (usually with no children or with small families), Chinese immigrants, Koreans, Iranians, Americans, Eastern Europeans, Middle Easterners, etc. In other words there is strong demand from all segments of the market;
- There seems to be increasing interest in this area from “foreigners” from the USA, typically young hi-tech professionals from San Francisco and San Jose, and older couples from Seattle and Los Angeles, all of them attracted by the diversity, safety, cuisine, scenery and recreational opportunities downtown Vancouver has to offer.
- Being close to the Central Business District is extremely convenient for the tens of thousands of professionals of all kinds who work downtown.
What’s so special about the Downtown core of Vancouver? Well, it depends on the specific neighbourhood:
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