by Macrealty Marketing Team | Feb 4, 2021 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in January 2021.
Find all the infographics by visiting the Facebook Album.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,389 in January 2021, a 52.1% increase from the 1,571 sales recorded in January 2020, and a 22.8% decrease from the 3,093 homes sold in December 2020.
Last month’s sales were 36.4% above the 10-year January sales average.
“With home sale activity well above our January average, the supply of homes for sale isn’t able to keep pace,” Colette Gerber, REBGV Chair said. “This is causing increased competition amongst home buyers and upward pressure on prices.”
Colette also has mentioned the COVID-19 season and low-interest rates:
“Shifting housing needs during the pandemic and historically low interest rates have been key drivers of demand in our market over the last six months,” Gerber said. “People who managed to enter the market a few years ago, and have seen their home values increase, are now looking to move up in the market to accommodate their changing needs.”
Bowen Island
Burnaby East
Burnaby North
Burnaby South
Ladner
Maple Ridge
New Westminster
North Vancouver
Pitt Meadows
Coquitlam
Port Coquitlam
Port Moody
Richmond
Tsawwassen
Vancouver East
Vancouver West
West Vancouver
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver. Please email [email protected] or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org
by Macrealty Marketing Team | Jan 8, 2021 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in December 2020.
Find all the infographics by visiting the Facebook Album.
According to The Real Estate Board of Greater Vancouver (REBGV) “Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average.”
The Board reports that residential home sales in the region totalled 30,944 in 2020, a 22.1% increase from the 25,351 sales recorded in 2019, and a 25.7% increase from the 24,619 homes sold in 2018. Last year’s sales total was 2.8% below the 10-year sales average.
“When the pandemic began in March, the housing market came to a near standstill. We knew, however, that shelter needs don’t go away in times of crisis, they intensify,” Colette Gerber, REBGV Chair said. “The real estate community worked closely with our regulatory bodies and public health officials in the spring to ensure appropriate precautions and protocols were implemented so BC REALTORS® could help residents safely meet their housing needs.”
Colette also has mentioned the COVID-19 season and low-interest rates:
“After adapting to the COVID-19 environment, local home buyer demand and seller supply returned at a steady pace throughout the summer, fall and winter seasons,” Gerber said. “Shifting housing needs and low interest rates were key drivers of this activity in 2020. Looking ahead, the supply of homes for sale will be a critical factor in determining home price trends in 2021.”
Bowen Island
Burnaby East
Burnaby North
Burnaby South
Ladner
Maple Ridge
New Westminster
North Vancouver
Pitt Meadows
Coquitlam
Port Coquitlam
Port Moody
Richmond
Tsawwassen
Vancouver East
Vancouver West
West Vancouver
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver. Please email [email protected] or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org
by Macrealty Marketing Team | Dec 7, 2020 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in November 2020.
Find all the infographics by visiting the
Facebook Album.
According to the Real Estate Board of Greater Vancouver, housing demand in Metro Vancouver continues to outpace historical averages with November sales eclipsing 3,000 for the first time since 2015.
“Home buyer demand has been at near record levels in our region since the summer,” Colette Gerber, REBGV Chair said.
“This is putting upward pressure on home prices, particularly in our detached and townhome markets.”
Colette also has mentioned homes’ supply and price trends:
“The supply of homes for sale are a critical factor in understanding home price trends,” Gerber said.
“The total number of homes for sale in Metro Vancouver is lagging behind the pace of demand right now. This trend favours home sellers in today’s market.”
Bowen Island
Burnaby East
Burnaby North
Burnaby South
Ladner
Maple Ridge
New Westminster
North Vancouver
Pitt Meadows
Coquitlam
Port Coquitlam
Port Moody
Richmond
Tsawwassen
Vancouver East
Vancouver West
West Vancouver
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver. Please email [email protected] or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org
by Macrealty Marketing Team | Nov 10, 2020 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in October 2020.
Find all the infographics by visiting the Facebook Album.
According to the Real Estate Board of Greater Vancouver, home sale and new listing activity remained at near-record levels across Metro Vancouver in October.
“Home has been a focus for residents during the pandemic. With more days and evenings spent at home this year, people are re-thinking their housing situation,” Colette Gerber, REBGV Chair said. “Throughout this period, REALTORS® have been working to understand and adapt to the latest safety protocols so that they can continue to help the public meet their housing needs in a safe and responsible way.”
Colette also has talked about demand and multiple offers:
“With demand on the rise, homes priced right for today’s market are receiving attention and, at times, garnering multiple offers,” Gerber said. “To understand the market conditions in your neighbourhood and property type of choice, work with your local REALTOR® to assess the latest MLS® housing market information.”
Bowen Island
In October 2020, there were 14 sales of detached homes and 31 active listings in Bowen Island. The benchmark sale price was $1,140,200.
The condo market had 1 active listing.
Burnaby East
In October 2020, there were 13 sales of detached homes and 41 active listings in Burnaby East. The benchmark sale price was $1,281,700.
The condo market had 17 sales and 42 active listings at the end of the month. The benchmark sale price was $725,200.
The townhome market had 14 sales and, the active listings were 29. The benchmark sale price was $707,100.
It’s a seller’s market in Burnaby East.
Burnaby North
In October 2020, there were 45 sales of detached homes and 144 active listings in Burnaby North. The benchmark sale price was $1,502,200.
The condo market had 96 sales and 399 active listings at the end of the month. The benchmark sale price was $614,800.
The townhome market had 22 sales and, the active listings were 52. The benchmark sale price was $746,400.
It’s a seller’s market for homes and townhomes.
Burnaby South
In October 2020, there were 41 sales of detached homes and 173 active listings in Burnaby South. The benchmark sale price was $1,564,000.
The condo market had 101 sales and 444 active listings at the end of the month. The benchmark sale price was $661,000.
The townhome market had 26 sales and 66 active listings. The benchmark sale price was $805,600.
It’s a balanced market for homes and condos.
Ladner
Maple Ridge
New Westminster
North Vancouver
Pitt Meadows
Coquitlam
Port Coquitlam
Port Moody
Richmond
Tsawwassen
Vancouver East
Vancouver West
West Vancouver
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver. Please email [email protected] or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org
by Macrealty Marketing Team | Oct 7, 2020 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in September 2020.
Find all the infographics by visiting the Facebook Album.
According to the Real Estate Board of Greater Vancouver, home sale and new listing activity reached record levels in Metro Vancouver in September.
“We’ve seen robust home sale and listing activity across Metro Vancouver throughout the summer months,” Colette Gerber, REBGV Chair said. “This increased activity can be attributed, in part, to lower interest rates and changing housing needs during the COVID-19 pandemic.”
Colette also has talked about the pressure on home prices:
“While the pace of new MLS® listings entering the market is increasing, the heightened demand from home buyers is keeping overall supply levels down,” Gerber said. “This is creating upward pressure on home prices, which have been edging up since the spring.”
Coquitlam
In September 2020, there were 127 sales of detached homes and 339 active listings in Coquitlam, BC. The benchmark sale price was $1,240,900.
The condo market had 109 sales and 380 active listings at the end of the month. The benchmark sale price was $531,700.
The townhome market had 62 sales and, the active listings were 129. The benchmark sale price was $696,300.
It’s a Seller’s Market in Coquitlam.
Port Coquitlam
In September 2020, there were 45 sales of detached homes and 82 active listings in Port Coquitlam, BC. The benchmark sale price was $1,017,900.
The condo market had 38 sales and 115 active listings at the end of the month. The benchmark sale price was $470,200.
The townhome market had 29 sales and, the active listings were 48. The benchmark sale price was $661,200.
It’s a Seller’s Market in Port Coquitlam.
Bowen Island
Burnaby East
Burnaby North
Burnaby South
Ladner
Maple Ridge
New Westminster
North Vancouver
Pitt Meadows
Port Moody
Richmond
Tsawwassen
Vancouver East
Vancouver West
West Vancouver
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver. Please email [email protected] or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org
