Team Berg Blog

Blog by Barry Berg

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Vancouver real estate: Where are the opportunities in 2019?

January 26th, 2019

thumb For the Greater Vancouver real estate market, 2018 saw a dampening of the record-breaking sales volume and price growth we had been seeing in recent years. Interest rate hikes, the foreign buyers tax, and a new mortgage stress test that were introduced this past year, contributed to the softening we saw across all property types. Sales volume was down while inventory of residential listings ...

Home seller supply grows as demand slows

July 10th, 2018

 
With home sale activity dipping below long-term historical averages, the supply of homes for sale in Metro Vancouver reached a three-year high in June.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,425 in June 2018, a 37.7 per cent decline from the 3,893 sales recorded in June 2017, and a 14.4 per cent decrease compared to Ma ...

Home sales down, listings up across Metro Vancouver

May 8th, 2018
Did recent mortgage requirements affect Greater Vancouver's real estate market in April? With diminished buying power, buyers were less active this past month. This means buyers will generally face less competition and have a little more breathing room when making their purchase decisions. Condos and townhomes are still in a seller's market (slightly softer), based on sales-to-active listings ...

Fewer home sales and listings, but upward pressure on prices continues

April 4th, 2018
The March 2018 real estate stats are in, and all signs indicate that it's still a strong seller's market for condos and townhomes in Greater Vancouver. While number of sales is down in March (compared to February), the low inventory continues to push prices up.

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Read the full stats package from the Real Estate Board of Greater Vancouver here.

January 2018 stats show softening of detached home prices, increased demand for attached homes

February 5th, 2018

“Demand remains elevated and listings scarce in the attached and apartment markets across Metro Vancouver,” Jill Oudil, REBGV president said. “Buyers in the detached market are facing less competition and have much more selection to choose. For detached home sellers to be successful, it’s important to set prices that reflect today’s market trends.”

For all property types, the sales-to-active l ...

Steady sales and fewer listings characterize 2017 for Metro Vancouver housing market

January 3rd, 2018

“It was a steady year for home sales across the region, led by condominium and townhome activity, and a quieter year for home listings,” Jill Oudil, REBGV president said. “Metro Vancouver home sales were the third highest we’ve seen in the past ten years while the home listings total was the second lowest on record for the same period.”

Marketing activity differed considerably based on propert ...

October 2017 real estate sales exceed historical average

November 16th, 2017
October 2017's sales were 15 per cent above the 10-year October sales average.

“Conditions continue to vary significantly based on property type. The detached home market is well supplied with homes for sale, which is relieving pressure on prices,” Jill Oudil, Real Estate Board of Greater Vancouver president said. “It remains a much different story in the townhouse and apartment markets. Buyer ...

Buying a detached home within reach of more buyers in Sept

October 20th, 2017
The latest stats from the Real Estate Board of Greater Vancouver show that attached housing (condos and townhouses) have seen price gains in September 2017, while detached housing price gains have slowed considerably when compared to the same time last year. This could be good news for some buyers who are looking to sell their condo for a single-family detached home right now.

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See all the st ...

August 2017 market fuelled by condo and townhouse sales

September 7th, 2017

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“First-time home buyers have led a surge this summer in demand in our condominium and townhome markets,” Jill Oudil, REBGV president said. “Homes priced between $350,000 and $750,000 have been subject to intense competition and multiple offers across the region.”

There were 4,245 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Met ...

Condo & townhouse market continue to dominate

June 2nd, 2017
The May 2017 real estate statistics are in, and across Greater Vancouver, sales activity for condos and townhouses drove the market.

Says Jill Oudil, Real Estate Board of Greater Vancouver president, "First-time buyers and people looking to downsize from their single-family homes are both competing for [condos and townhomes]."

Here's a snapshot of what a typical condo (based on the MLS Home Pri ...
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