Edward Krasnogolov

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Real Estate Stats

 

REBGV Stats - March 2019


Prospective home buyers remain on the sidelines in March

Metro Vancouver home sales dipped to the lowest levels seen in March in more than three decades.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,727 in March 2019, a 31.4 per cent decrease from the 2,517 sales recorded in March 2018, and a 16.4 per cent increase from the 1,484 homes sold in February 2019.

Last month’s sales were 46.3 per cent below the 10-year March sales average and was the lowest total for the month since 1986.

“Housing demand today isn’t aligning with our growing economy and low unemployment rates. The market trends we’re seeing are largely policy induced,” Ashley Smith, REBGV president said. “For three years, governments at all levels have imposed new taxes and borrowing requirements on to the housing market.”

“What policymakers are failing to recognize is that demand-side measures don’t eliminate demand, they sideline potential home buyers in the short term. That demand is ultimately satisfied down the line because shelter needs don’t go away. Using public policy to delay local demand in the housing market just feeds disruptive cycles that have been so well-documented in our region.”

There were 4,949 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2019. This represents an 11.2 per cent increase compared to the 4,450 homes listed in March 2018 and a 27.2 per cent increase compared to February 2019 when 3,892 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,774, a 52.4 per cent increase compared to March 2018 (8,380) and a 10.2 per cent increase compared to February 2019 (11,590).

For all property types, the sales-to-active listings ratio for March 2019 is 13.5 per cent. By property type, the ratio is 9.4 per cent for detached homes, 15.9 per cent for townhomes, and 17.2 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,011,200. This represents a 7.7 per cent decrease from March 2018, and a 0.5 per cent decrease compared to February 2019.

Sales of detached homes in March 2019 reached 529, a 26.7 per cent decrease from the 722 sales in March 2018. The benchmark price for a detached home is $1,437,100. This represents a 10.5 per cent decrease from March 2018, and a 0.4 per cent decrease compared to February 2019.

Sales of apartment homes reached 873 in March 2019, a 35.3 per cent decrease compared to the 1,349 sales in March 2018. The benchmark price of an apartment property is $656,900. This represents a 5.9 per cent decrease from March 2018, and a 0.5 per cent decrease compared to February 2019.

Attached home sales in March 2019 totalled 325, a 27.1 per cent decrease compared to the 446 sales in March 2018. The benchmark price of an attached home is $783,600. This represents a six per cent decrease from March 2018, and a 0.7 per cent decrease compared to February 2019.

Download the March 2019 stats package.



BCREA Housing Market Update (September 2017) 

 Stats for August 2017

Condominium sales drive August activity


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Videocast


Stats for Metro Vancouver


Stats for Richmond




Stats for November 2016

Home sales and listings just below 10-year average


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Stats for October 2016

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Stats for Richmond.


 Download the corrected September stats package by clicking here

Stats for September 2016

Home buyers and sellers face changing market dynamics


  

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Stats for Richmond BC


Videocast


Stats for August 2016

 

Metro Vancouver home sales return to typical August levels


Click here for the August 2016 stats package

Videocast



Stats for July 2016

Home sales move off of record-breaking pace in July


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Videocast


Stats for June 2016

Home buyers remain active across Metro Vancouver


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Stats for May 2016

Demand remains elevated across the Metro Vancouver housing market


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Stats for February 2016

Metro Vancouver home buyers set a record pace in February


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Videocast


Stats for Richmond


BC Budget 2016 – the impact on RE buyers and sellers


The BC government introduced its 2016 budget today. The budget included a number of items intended to affect affordability and availability in the Lower Mainland’s housing market. 

Here’s a summary:

Property Transfer Tax (PTT)

• a New Housing exemption will apply to newly built homes or newly subdivided units priced up to $750,000, saving buyers up to $13,000; and

• a partial exemption will apply on newly built homes priced $750,000 to $800,000.

• a new 3% PTT rate will apply to the portion of a home sale that exceeds $2 million. For homes that sell for below $2 million, the PTT will continue to apply at a rate of 1% on the first $200,000 and 2% on the balance. 

These changes will take effect on February 17, 2016. 

 “While we applaud the government’s efforts to improve affordability for home buyers purchasing new housing, there’s more work to be done, including indexing PTT thresholds to keep pace with changes in home prices over time,” Darcy McLeod, Board president said. 

Data collection

Starting this summer, individuals and corporations buying property must disclose if they are Canadian citizens or permanent residents of Canada and if neither, their home country. These changes will provide information on the volume of foreign investment in BC. 

Your Board supports this change. We advocated for this initiative in a letter to the Finance Minister earlier this year. 

Home Owner Grant

The Home Owner Grant threshold will increase to $1.2 million from $1.1 million for the 2016 tax year.

Affordable housing

The province will invest $355 million to help the BC Housing Management Commission support more than 2,000 affordable housing units for residents with low-to-moderate incomes. 

Watch for more information on today’s budget in next week’s edition of our REALTOR® News.

Additional government resources:

Read the Housing Affordability Backgrounder. Read the Budget Speech. (Opens 24-page pdf)

Stats for January 2016

Stats for December 2015

Metro Vancouver home sales set an all-time record in 2015



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Videocast


Stats for Richmond BC


Stats for October 2015

Metro Vancouver home buyers push October sales above long-term averages


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Stats for September 2015

 

Metro Vancouver home buyers compete for fewer home listings


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Stats for July 2015


Stats for June 2015

Metro Vancouver home sales set record pace in June


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Stats for May 2015

Metro Vancouver home sales surpass 4,000 for third consecutive month



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REBGV May 2015 Stats Videocast

Stats for April 2015

Home buyer demand outpacing supply across the Metro Vancouver housing market


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Videocast


Stats for February 2015

Home buyerandselleractivityoutpaceshistoricalaveragesinFebruary



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Videocast

Stats for January 2015

Home buyers remain active despite reduced selection



Videocast stat


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Housing Market Update (December 2014) 

 

January 5, 2015

Home sale and listing activity reach historical norms in 2014


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VideoCast

 

Stats for November 2014

Metro Vancouver home sales remain strong


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Stats for September 2014

Home sales activity picks up the pace in September



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VideoCast 


Stats for August 2014

 

September 3, 2014

Housing market activity follows 10-year August averages



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VideoCast


Stats for July 2014

Home buyers continue to slightly outpace sellers, but not by much



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VideoCast


Stats for June 2014

Buyer demand increases while home prices edge up


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Stats for May 2014


June 3, 2014

Home buyer demand increases across Greater Vancouver housing market



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Stats for April 2014

 
 

Spring buyers and sellers emerge in the Greater Vancouver housing market



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Stats for January 2014

 
 

Steady trends continue in the Greater Vancouver housing market


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Stats for December 2013 

Metro Vancouver housing market characterized by modesthomesaleandprice increases in 2013


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Very informative Snap Shots for:


Metro Vancouver


Greater Vancouver


Fraser Vallery








Stats for November 2013 

Steady trends continue in the Greater Vancouver housing market



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BC Home Sales on Upward Trajectory

For the complete news release, including detailed statistics, click here.

 

Vancouver, BC – October 15, 2013.  TheBritish Columbia Real Estate Association (BCREA) reports that a total of 6,498 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during September, up 43.2 per cent from September 2012. Total sales dollar volume was 55.7 per cent higher than a year ago at $3.49 billion. The average MLS® residential price in the province was $537,458, up 8.8 per cent from September 2012.

 

"Consumer demand for housing in September was the strongest in four years,” said Cameron Muir, BCREA Chief Economist. “After declining for most of 2012, BC home sales have increased now for seven consecutive months."

 

"While a return to a more normal level of demand is good news for buyers and sellers, relatively weak economic conditions and muted provincial job growth will likely limit continued acceleration of home sales over the next few quarters,” added Muir.

 

Year-to-date, BC residential sales dollar volume was up 5.7percentto$30 billion, compared to the same period last year. Residential unit sales were up 3.1percentto56,347 units, while the average MLS® residential price was up 2.6percentat$532,745.

Stats for September 2013 

Sale and listing activity continues to follow historical averages


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For video Market update for September 2013 click   here



Stats for August 2013

The summer housing market remains active in Greater Vancouver


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For video Market update for August 2013  click   here


Housing Market Update (September 2013) click   here

Stats for January 2012

The complete stat package is    here


For video Market update for January 2012 click   here



Price chart from 1977 till 2011

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.