As we approach the dawn of 2024, the real estate market is undergoing a significant shift, prompting both buyers and sellers to reassess their strategies. In this blog post, we’ll delve into the current market dynamics and explore what to expect in the coming year, offering insights for navigating the evolving 2024 real estate market.
Continue reading →update
February Market Update
“With home sale activity well above our January average, the supply of homes for sale isn’t able to keep pace,” Colette Gerber, REBGV Chair said. “This is causing increased competition amongst home buyers and upward pressure on prices.”
Continue reading →January Market Update
“Robust December sales outpaced long-term averages in what’s traditionally the quietest month
of the year in real estate. This was part of an unusual seasonal pattern the market followed last
year, which can be attributed in large part to the pandemic,” Gerber says.
December Market Update
“Home buyer demand has been at near record levels in our region since the summer,” Colette Gerber, REBGV Chair said. “This is putting upward pressure on home prices, particularly in our detached and townhome markets.”
Continue reading →November Market Update
According to the REBGV, “Home sale and listing resurgence extends into the fall. Home sale and new listing activity remained at near record levels across Metro Vancouver in October”. Find out what’s happening in the current North Vancouver market.
Continue reading →BCREA: Record September for BC Housing Markets
“The provincial housing market had a record-setting September,” said BCREA Chief Economist Brendon Ogmundson. “Both total sales and average prices were the highest ever for the month of September as pent-up demand from the spring pushes into the fall.”
Continue reading →October Market Update
“We’ve seen robust home sale and listing activity across Metro Vancouver throughout the summer months,” Colette Gerber, REBGV Chair said. “This increased activity can be attributed, in part, to lower interest rates and changing housing needs during the COVID-19 pandemic.”
Continue reading →Why real estate prices continue to rise despite the pandemic | CBC News
“There has been a fundamental shift in what is deemed desirable in real estate. Now that the work-from-home movement is no longer a trend but a necessity, living close to your workplace isn’t as important as it used to be. The items that are on top of today’s buyers’ wish lists include a backyard and an extra room for a home office.”
Continue reading →September Market Update
Sales were down in August compared to July, the average composite price was up. Buyers and sellers are comfortable with the new home buying and selling processes. The long weekend has historically meant for a delay to the second or third week of September for the real estate market. We do not see the market slowing down for fall.
Continue reading →Housing Market Highlights
Many Buyers who have been working from home are planning to continue to do so. Buyers want to upgrade to have better or more comfortable living space indoors and out. The following factors have stabilized the real estate market in the midst of a policy driven economic downturn.
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