Market Update

Market Update April 2019

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.

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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.

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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.

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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.

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