by Macrealty Marketing Team | Feb 7, 2018 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in January 2018.
Vancouver
In the Vancouver Westside, there were 46 sales of detached homes and 672 active listings at the end of the month. The benchmark sale price was $3,548,400, with an average days on market of 68. The hottest markets for sales were Dunbar and Point Grey with 8 sales each.
In comparison, the condo market had 245 sales, 579 active listings and a benchmark sale price of $812,400 with an average of 28 days on market. The hottest market for sales was Downtown VW, 54 sales.
Townhome sales were 18, active listings were 105. The benchmark sale price was $1,247,900 with an average days on market of 26. Yaletown with 6 sales was the hottest market of the month.
It’s a seller’s market for condos.
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by Macrealty Marketing Team | May 17, 2017 | In The News
Yes, good value real estate is possible in Vancouver.
In April 2017, in their annual Where to Buy Now coverage MoneySense.ca selected their top Greater Vancouver neighbourhoods to buy real estate to see the best return on investment.
What’s a buyer to do? The best way is to buy based on solid fundamentals. In real estate this means finding good-value neighbourhoods that offer a good chance of continued momentum in the future. That’s not easy in a hot market, but this year’s Where to Buy Vancouver list shows it is possible. Read the rest of the article here.
We’ve rounded up homes for sale in each of these Where to Buy neighbourhoods to make it easy for you.
The top 25 Greater Vancouver neighbourhoods for Buyers, according to MoneySense are:
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To view all active listings currently for sale in one of these areas simply click the neighbourhood links above or call our head office at 1-877-278-3888 to be matched to an expert real estate agent in the area of your choosing.
by Macrealty Marketing Team | Sep 27, 2016 | Other
We are delighted to announce the begin
ning of a new charitable partnership between Macdonald Real Estate Group and InspireHealth, a local not-for-profit supportive cancer care organization with centres in Vancouver, Victoria and Kelowna. They provide important programs and services to enhance quality of life, health and well-being of people living with cancer and their families.
Macdonald Real Estate Group has signed on to be the presenting sponsor of InspireHealth’s new cookbook ‘Inspired Cooking‘ featuring 50 exclusive recipes from 20 of Canada’s top chefs including BC’s Vikram Vij (Vij’s Restaurant Group), Ned Bell (Yew at Four Seasons Hotel), Warren Barr (The Pointe Restaurant at Wickaninnish Inn), James Walt (Araxi) and many more.
Last year, InspireHealth welcomed more than 2,400 new members, provided 2,000+ classes and more than 25,000 patient visits – all completely free of charge. This InspiredHealth cookbook is an important fundraising venture and we are so proud to be a leading sponsor of this project. Watch for the cookbook is stores this holiday season and if you wish to make a donation to the project you can visit their Kickstarter page here.
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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by Macrealty Marketing Team | Sep 12, 2016 | Market Updates
Why are some articles saying prices are going down, and others saying that for the same product category, they’re not? How is that even possible? Whenever you read real estate reports, it is important to understand how the data used is interpreted by the author. With the high price points of Vancouver’s heated real estate market, conversations about predicting where property values will go next seems to have become a daily conversation wherever we go. In this video, I discuss the difference between the two common ways of measuring price points: Average Price vs. (HPI) Benchmark Price.
Are prices down, or not? Two ways to measure prices.
When looking at activity for a given period of time, the Average Price per unit is exactly that – an average of all of the sales for that period within a certain market segment.
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