The numbers are in for April, and we’ve experienced a slight increase in sales from March, but at depressed prices. From our perspective, buyers are being extremely cautious in putting pen to paper, but it appears that sellers are starting to be more realistic about their price expectations. Overall, sales are down 29.1% compared to April 2018. We expect May’s stats will show increased sales activity, as this is historically a very busy month for residential real estate.
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Market Update March 2019
The numbers are in for March, and the Springtime rush is getting into gear! We are already seeing increased activity in the market from a daily hustle and bustle perspective. That being said, sales are down 31.4% compared to March 2018, a result of buyers being particularly cautious. We expect April’s stats will show increased sales activity, as this is historically a very busy month for residential real estate.
Market Update February 2019
The numbers are in for February, and things are picking up! As we head into what is typically the busiest time of year – the Springtime rush – we are already seeing increased activity in the market from a daily hustle and bustle perspective. That being said, sales are down 32.8% compared to February 2018, a result of buyers being particularly cautious. We expect March’s stats will show increased sales activity, as we’ve noticed that the newer listings are priced more appropriately for the market at hand.
Market Update January 2019
The numbers are in, but don’t let them get you down! We are one month into 2019, and already we are seeing increased activity from a daily hustle and bustle perspective. That being said, sales are down 36.3% compared to January 2009, a result of buyers being particularly cautious. The stats for this month reflect sales of homes that were listed in the later months of last year, which is traditionally the slowest time of year for real estate transactions. We expect February’s stats will show increased sales activity, as we’ve noticed that the newer listings are priced more appropriately for the market at hand.
Market Update December 2018
As we are one week into 2019, it’s a good time to reflect on the year that has passed. 2018 recorded the lowest number of sales in Metro Vancouver since 2000. Sales have fallen 38.4% from their peak in 2016, while the benchmark price of a home in Vancouver has dipped only 2.7%. This of course, is an average that takes into account a larger decrease in price for attached homes, while townhomes and condos saw increases in price in the first half of the year, only to decline later on.
Market Update November 2018
With only 26 days left in the year, it’s no surprise that activity in the real estate market is winding down. Historically a slower time of the year due to the holidays, November 2018’s stats reflect just that.
Sales were down 42.5% in November when compared to this time last year, and 18.2 % lower than October’s sales.
9 Things to Look for When Buying a Condo in Vancouver
Let’s face it – not all Realtors are made equal. Many Realtors will try to rush clients into a sale without having done their due diligence in examining a strata/condo unit. Here at Chris Chiu Realty, we don’t want you to have any regrets. Here is our list of 9 things to look for when viewing and considering to write an offer on a condo unit.
Continue reading → Your Next Move in the Vancouver Real Estate Market
With Vancouver Real Estate being a national topic of interest, this is not breaking news. Sales have plunged just over 40% since this time last year. It’s no wonder Vancouverites may be on the fence about participating in the market. As a Realtor who has experienced 2 of these markets previously – once in 1998 and once in 2008 – I can say with confidence that Vancouver Real Estate never stays down for long.
8 of Vancouver’s Most Luxurious Properties on the Market Right Now
With the luxury housing market slowing down significantly in Vancouver, many high-end properties remain stagnant on the market. While that’s not excellent news for owners of luxury real estate, it does mean we get to gawk at their gorgeous homes! Here’s a look at 8 of our favourites:
Main
Just south of Mount Pleasant is Vancouver’s Main Street neighborhood. This unique neighborhood attracts diverse residents due to its charm and many entertainment options.
Main Street is known to Vancouverites for its “Restaurant Row,” a strip of pubs, bars, and restaurants to satisfy any dining mood. This is complimented by an variety of boutiques and thrifting stores, which really give the neighborhood its hipster vibe.