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Blog by Graham Kirby

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Metro Vancouver Residential Market Round up 2017

January 9th, 2018
A healthy economy, historically low interest rates, higher employment and wages plus a growing population all contributed to home buyer demand in 2017. Total home sales for 2017 were down 9.9% from 2016 but were still the third highest over the last ten years. In contrast to this, listings were the second lowest total over the last ten years. The combination of strong demand and low invento ...

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Strong Demand, Below Average Inventories Continue to Drive the Metro Vancouver Market

December 17th, 2017
Home sales in November increased 26.2 percent from November 2016 and were 17 percent above the ten year average. Condos and townhomes continue to be the strongest categories. The sales to active listings ratio for condos in November was a whopping 67.8 percent with townhomes coming in at 32 percent and detached homes remaining at a balanced market ratio of 15.9 percent. It will be interestin ...

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October sales remain strong for Condos

November 14th, 2017
Metro Vancouver home sales in October this year have exceeded previous Octobers due to the strength of the attached home markets, while detached homes have moved towards a more balanced position overall. This October’s sales were 15 percent above the ten year average. The sales to listings ratios tell the story with detached homes at 16.8 %, Townhomes at 44.8% and Condos at 66 %. Primary co ...

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Attached homes still leading the market in Greater Vancouver

October 13th, 2017
September’s stats continue to show the trend of attached homes leading the market. The sales to listings ratio for apartments was 60.4%, townhomes 42.3% and Single Homes 14.5%. Anything over a 20% ratio is considered a buyers’ market. The detached market overall is now considered to be a balanced market. Lack of attached property supply and tightening lending policies for buyers that were pr ...

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July 2017 - Greater Vancouver Housing Market Update

July 17th, 2017
Condominiums continue to lead the real estate market with demand outstripping supply. Condo Sales are down 11.5% from the record breaking sales of June 2016 but this is due in large part to the lack of inventory. Detached homes on the other hand have seen demand ease towards a more balanced market and detached inventories have increased every month this year. The opposite has occurred in the ...

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April 2017 - Greater Vancouver Housing Market Update

May 12th, 2017
Condo and Town House sales continue to lead the market in Metro Vancouver. The stastistics tell the story. The sales to active listings ratio is 26 per cent for detached homes, 58.2 % for townhomes, and 82.2 % for condominiums. Ratios over 20 % are considered a Seller’s market. Construction has been at a record pace over the last year but until these projects come on stream, strong demand a ...

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First Quarter 2012 edition of CMHC's Housing Market Outlook

March 8th, 2012
Source: Canada Mortgage and Housing Corporation Canada’s Housing Market to Remain Steady Overview1 Housing starts: After an active 2011, multiple starts are expected to moderate while single starts will level off. For 2011, housing starts came in at 193,950 units. Looking ahead, starts are forecast to be 190,000 for 2012 and 193,800 for 2013. Resales: Sales of ...

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REBGV MLS Stats February 2012

March 8th, 2012
Source: REBGV Greater Vancouver housing market trends near long-term averages as spring market approaches Closer alignment between home buyer and seller activity helped bring greater balance to the Greater Vancouver housing market in February. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,545 on ...

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Transparency on Banks Mortgage penalty terms

March 8th, 2012
After several class-action suits and numerous consumer complaints, the federal government has gone some way towards protecting consumers wishing to pay down their mortgage. Federally regulated financial institutions (Lenders) are now required to clarify their prepayment and penalty terms when a partial or total pay down is requested and must continue to do so on an annual basis. ...
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MLS Statistics

March 8th, 2012
Whether you are buying or selling, one of the first steps in the process is to check the condition of the Real Estate market as it applies to the purchase or sale of your home. We do this by analyzing MLS statistics. One of the most important statistics is the sales to active listings ratio (SALR). This will tell you if it is a balanced, seller’s or buyer’s market. October’s sta ...

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