by Macrealty Marketing Team | Aug 8, 2018 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in July 2018.
Vancouver-West
In the Vancouver Westside, there were 57 sales of detached homes and 858 active listings at the end of the month. The benchmark sale price was $3,356,500, with average days on market of 54. The hottest markets for sales were Dunbar, Kitsilano and Southlands with 7 sales each.
In comparison, the condo market had 295 sales, 1,203 active listings and a benchmark sale price of $835,200 with an average of 26 days on market. The hottest market for sales was Downtown VW, 55. sales.
Townhome sales were 39, active listings were 198. The benchmark sale price was $1,288,600 with an average days on market of 29. Kitsilano with 8 sales was the hottest market of the month.
It’s a buyer’s market for houses in Vancouver-West.
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by Macrealty Marketing Team | Aug 7, 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 July 2018.
North Delta
In the North Delta market, the benchmark sale price was $949,200 for detached homes. At the end of the month, there were 208 active listings and 34 sales.
The condo market had 2 sales and 29 active listings. The benchmark sale price was $434,700.
Townhomes featured 6 sales, 18 active listings and a $642,300 benchmark sale price.
It’s a seller’s market for townhomes in North Delta.
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by Macrealty Marketing Team | Aug 2, 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 July 2018.
Greater Victoria
In July 2018, there were 285 sales of single family homes and 926 active listings in the Greater Victoria. The benchmark sale price was $741,000 with an average days on market of 36. The hottest markets for sales were Saanich East and Langford with 60 and 48 sales respectively. There were also 15 sales and 180 active listings at the end of the month for waterfront homes.
In comparison, the Condo market had 188 sales, 420 active listings at the end of the month. The benchmark sale price was $485,200 with an average days on market of 32. The hottest market for sales was Victoria, 70 sales.
Townhome sales were 67, active listings were 192 and the benchmark sale price was $586,100. The average days on market were 42, and the hottest market was Langford with 19 sales.
It’s a seller’s market in Victoria.
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by Macrealty Marketing Team | Jul 30, 2018 | In The News
First, you’ll want to understand the taxes you’re going to pay
It is impossible to think about buying in Vancouver as a foreigner without considering the now- infamous tax on foreign buyers and speculators introduced in 2016 to make housing in the region more affordable and cool down an extremely hot market.
In Vancouver, foreigners pay a 20% tax on top of the purchase price. The tax was introduced because of the perception that Vancouver, the most expensive market in Canada, was becoming a parking ground for global capital.
Now approaching the end of the second year, many say the tax has not had its intended effect. Jerry Wang, of MacDonald Realty, a luxury brokerage in Vancouver, said that although the tax slowed the market at the beginning, foreign buyers are back in the game.
The largest island offers proximity to a 180-mile long For the luxury “Buyers can get a mortgage fairly easily, and relatively speaking, the price point for the Vancouver area is still very reasonable,” Mr. Wang said, compared to other large cities around the world.
He said his clients have just shifted to a slightly lower price bracket to account for the tax, and are still “buying at a discount.” They also still buy at the high end. “This year we have seen so many properties over C$10 million (US$7.7 million) sold in Vancouver,” he said. “Most of them are to Chinese families still wanting to be here.”
Because of the tax, he added, it is “properties in the middle that are suffering,” referring to those in the “affordable luxury” range.
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by Macrealty Marketing Team | Jul 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 June 2018.
Greater Victoria
In June 2018, there were 292 sales of single family homes and 920 active listings in the Greater Victoria. The benchmark sale price was $745,100 with an average days on market of 29. The hottest markets for sales were Saanich East and Langford with 51 and 60 sales respectively. There were also 12 sales and 169 active listings at the end of the month for waterfront homes.
In comparison, the Condo market had 230 sales, 445 active listings at the end of the month. The benchmark sale price was $486,100 with an average days on market of 28. The hottest market for sales was Victoria, 89 sales.
Townhome sales were 81, active listings were 195 and the benchmark sale price was $594,300. The average days on market were 26, and the hottest market was Langford with 14 sales.
It’s a seller’s market in Victoria.
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