"If you realized how powerful your thoughts are, you would never think a negative thought.” -  Pearce Pilgrim


There were 2,098 homes sold of all types in Greater Vancouver in June this year compared with 2,467 sales in June last year and 3,953 homes sold in June 2017. This was 39 per cent below the 10-year average for June and the lowest amount of sales in the month of June since 2000 at the same number. The first six months of 2019 saw 10,992 homes sold in Greater Vancouver, the lowest amount for the first half of the year since 1998. There were 751 Detached Houses sold in June 2019 (36 per cent of total sales) compared to 771 in June 2018 (31 per cent of total sales); 390 townhomes sold in June 2019 (19 per cent) compared to 419 in June 2018 (17 per cent); and 941 apartments sold in June 2019 (45 per cent) compared to 1,240 in June 2018 (50 per cent). Detached homes made up a larger percentage of homes sold, continuing a trend that is showing price adjustments in detached homes...

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The Metro Vancouver resale real estate market is primed for a comeback!

Never have we seen the market with sales and listings numbers like we are experiencing right now. Even with monthly sales below that of a typical May and the 10-year average, fundamentals shown by new and active listing counts that there is significant confidence. And with sales in May 44% above those in April, it’s not a slumping market, but one with a gasp of breath! Ask REALTORS® how many multiple offers they have experienced in the last month. Supply is the story!

The market is always right—supply and demand ultimately dictates it and the recent intervention on the demand side by the provincial government through taxes and the federal government through the stress test only serve reduce prices significantly in the high end for those the government wanted out of this market and prevent home buyers from getting into homes in the bottom end—affordability has not improved and will not...

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Sales and listings stats are attached as of June 15, 2019. The debate continues on what was driving the market and who’s really in all those homes out there. What we do know is supply is continuing to be an issue in the current market with less listings coming on market so far in June than the midpoint of May this year (down 17%) and June last year (down 20%). It would appear we are looking at the peak of Active Listings for the spring market as we’ll be seeing less new listings come out during the summer months. The incidents of multiple offers are increasing as buyers are seeing that new listings priced in today’s market are moving quicker than they have in the last year.  While sales will be below the 10 year average for June, likely to finish at about 2,100 homes sold, the number of new listings are likely to be at 5,000 which would be 12 per cent below the 10 year average for the month of June and close to the lows for the month of June in 2002 and 2003 prior...

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Is this a one hit wonder or the start of a new album for Metro Vancouver real estate? Sales in May were the highest since May 2018 and second highest since November 2017. After 9 straight months with home sales below 2,000 units, there were 2,669 homes sold in Greater Vancouver in May. This was the longest period of monthly sales being below 2,000 since a period of 16 months from November 1997 to February 1999. With the spring market typically being the busy time of year for buyers and sellers, it seems engagement through the end of April and into May was much higher than we’ve seen over the last month. And with all that has been thrown at the market, it shouldn’t be surprising that it took time for the market and its participants to digest. And with less listings coming on the market in May than is typical, total inventory level growth has slowed, resulting in some multiple offers in the market – albeit with a more cautious tone to them. It would seem pent up demand in...

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Not much is changing in the market in relation to sales numbers, we are seeing total number of homes sold consistently below 2,000 since July of 2018. But on a positive note, it was the 4 straight increase months over month. Rome wasn’t built in a day nor is the Greater Vancouver housing market. The pent-up demand continues to build as a result. There were 1,850 sales in Greater Vancouver in March 2019, the lowest total for the month of April since 1995. The standoff continues between buyers and sellers as both sides are waiting for the other to blink. Increasingly sellers are starting to blink first as buyers are being very selective on what they are willing to offer on and jumping on properties that are priced well in today’s market. An opportunity that has been long sought after from buyers in Metro Vancouver.


The 1,850 homes sold in Greater Vancouver in April were up from 1,745 (6%) from March this year. This was compared with 2,631 sales (down 30%) in April last year and...

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The 1,743 homes sold in Greater Vancouver in March were up from 1,512 (15%) from February this year. This was compared with 2,551 sales (down 35%) in March last year and 3,632 sales in March 2017. This was 45 per cent below the 10-year average for March. In looking around Greater Vancouver, both Vancouver’s Westside and North Vancouver saw the most significant increases in sales month over month at 33 per cent and 35 per cent respectively. While West Vancouver, Port Coquitlam and Tsawwassen had sales in March lower than February. In Burnaby East there were zero detached house sales in March. Regional markets are different in their make up and activity, but we typically see Vancouver be a leading indicator in the market. So again, let’s move into April.


On the other side of the equation, there were 5,057 new listings in March in Greater Vancouver, up from 4,557 in March last year and up from 3,974 in February 2019. The number of new listings in March were 12 per cent below the...

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The NDP Government announced their budget in February and in the immortal words of George H. W. Bush – “No New Taxes!” After last years budget, there was a reprieve in the real estate market that was under fire from the provincial government last year. Although we did encounter one of the snowiest and coldest February’s we’d seen in a long time. Perhaps something had frozen over! There were 1,512 homes sold in Greater Vancouver in February up from 1,120 (up 35%) in January this year. This was compared with 2,241 sales (down 33%) in February last year and 2,461 sales in February 2017. This was 42 per cent below the 10-year average for February and the lowest since 1,494 in February 2009. Detached house sales edged up comparatively with there being 27% fewer compared to last February while there were 30% less townhouse sales and 35% less apartment sales. There is still a lack of activity for detached homes in Vancouver’s West Side with there being 43 sales...

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New Year, a similar mentality to start the year with a wait and see attitude in the market with both buyers and sellers. But the feeling is one of some growth of opportunity in the market with prices coming off lofty highs and some multiple offers occurring. Call it tempered optimism. There were 1,120 home sales in Greater Vancouver in January this year, the third-lowest total since 2000 (771 in 2009 and 1,062 in 2000). With only 1,094 home sales in December, it is curious that only twice since 2000 have sales in January been higher than the preceding December as January is typically a slow month to start the year. Sales in January were 35 percent below the 10-year average for January, not surprising after the year we had in 2018. With 4,980 new listings in January this year, it was 27 percent up from January 2018 and only up 3 percent from the 10-year average. Total sales for Greater Vancouver in January were 1,864 – up 6.5 percent from January 2017 and up 6.4 percent on the ten-year...

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Categories:   Market Update
Monica Lee
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Office: 604.689.8226
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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.