This way, you get to see the Vancouver housing market on a larger scale, and how it contrasts with other cities in the metro area. Last month’s sales in Metro Vancouver were also 24.6 per cent higher than the 10-year November sales average. The Sunshine Coast showed the largest increase in year-over-year sales according to the data, with Squamish and the Gulf Islands not far behind. On Monday, the Canada Mortgage and Housing Corporation released a housing outlook, forecasting the lower range for the average home price in Metro Vancouver would fall … The composite benchmark price for residential properties in Metro Vancouver was just over $1 million, up 0.3 per cent from August and 5.8 per … Home sales and prices in Metro Vancouver continue to rise during this fall season. The COVID-19 pandemic has altered the needs of B.C. Commercial real estate firms report more apartment building and development site listings year-over-year in September. Housing sales in Metro Vancouver fell almost 17 per cent in November compared to the previous month, according to the Real Estate Board of Greater Vancouver. Commercial real estate firms report more apartment building and development site listings year-over-year in September. Mark Goodman of Goodman Commercial told RENX he and partner Cynthia Jagger had 23 listings … Metro Vancouver, Fraser Valley remain a sellers' markets, say real estate groups. The market saw the sale of 170 houses last month, which was the busiest month reported by any community that is a member of the Real Estate Board of Greater Vancouver (REBGV). "Since the summer, we've seen the strongest demand in our board's 99 year history, specifically for single-family detached and townhomes,". This is a milestone that RE/MAX realtor Andrew Hasman, the recipient of this year’s RE/MAX Luminary of Distinction career achievement award, is especially proud of reaching in his 28th year in the real estate industry through his Vancouver real estate office. Starlight has property interests in the Metro Vancouver region that go back to 1995, under different ownership. Lougheed Village, which would create a 1,728-apartment rental complex near Lougheed Mall, is going through the City of Burnaby’s rezoning process. The last day the team members each worked was on Dec. 1 and Dec. 3. View homes for sale in Metro Vancouver, British Columbia, property images, MLS® house details and more! Metro Vancouver’s residential real estate prices continue to creep up Home sales in January 2020 were 42.4 per cent higher than one year previously, reports board, while inventory remains low Feb 4, 2020 10:53 AM Read more > Watch how REALTORS® are creating safe showing conditions during COVID-19. The Real Estate Board of Greater Vancouver says November home sales were down from October - but still well above this time last year, as the market catches up to the effects of COVID-19. Empty storefronts on Robson Street, Vancouver. The boards says monthly sales records were set in September, October and November compared to previous years. West Vancouver is an exclusive oceanside suburb realtors consider the epicentre of a real estate correction in the area. Gerber says the current market favours sellers because demand is outstripping supply. LATEST NEWS Vancouver’s Empty Homes Tax increases to three per cent Mayor Kennedy Stewart has followed through on a 2018 election campaign promise and has tripled the Empty Homes Tax rate to three per cent. The real estate market in Maple Ridge and Pitt Meadows did nothing in October to cool down from its hot summer. With COVID-19 cases on the rise, REALTORS® are committed to adhering to the province’s latest physical distancing requirements and conducting as much of their business as possible in a virtual environment. I frequently hear about how owning direct real estate, especially in Metro Vancouver, is a "no brainer" investment, for even the least-sophisticated investor. Is B.C. Metro Vancouver also regulates air quality, plans for urban growth, manages a regional parks system and provides affordable housing. While Metro Vancouver’s residential sector struggles, its commercial real estate market is holding firm, with vacancy rates extremely low, according to a monthly analysis by commercial market intelligence company CoStar Group. National real estate market stayed red-hot in November by Neil Sharma. Get instant access to a lot of relevant information about Greater Vancouver, BC real estate, including property descriptions, virtual tours, maps and photos. Real estate roundup: Greater Vancouver, BC housing market overview Point2 gives you far more than a simple list of houses for sale. Metro Vancouver home sales jump 45.4% to well above 10-year average October’s rush of buyer activity and drop in new listings means the region’s market is creeping back towards favouring sellers Nov 4, 2019 11:50 AM Read more > Metro Vancouver's 'largest masterplanned community' to cover 74 acres West Vancouver sues British Properties couple over illegal work and landslide damage 1396 The late Geoff Massey: a cultural icon at home on the North Shore Employees at the following Real Canadian Superstore locations in Metro Vancouver and the Fraser Valley have tested positive for the virus in the last few days: Real estate roundup: Greater Vancouver, BC housing market overview Point2 gives you far more than a simple list of houses for sale. BC's Land Owner Transparency Registry now in force: what you need to know Not many realtors in Vancouver have dedicated themselves to one real estate company and office over the course of their entire career. It is a priority for CBC to create a website that is accessible to all Canadians including people with visual, hearing, motor and cognitive challenges. Metro Vancouver - southwest including Richmond and Delta; Freezing levels are forecast to be low enough "to cause localized heavy wet snow to fall … Read the latest Vancouver real estate news, pricing, housing market trends and analysis. Get instant access to a lot of relevant information about Greater Vancouver, BC real estate, including property descriptions, virtual tours, maps and photos. Canada’s biggest landlord is planning Metro Vancouver’s largest rental housing development near Burnaby’s Lougheed Town Centre. In comparison, there were 23,404 unit starts in 2018, and 28,141 in 2019. Real Estate New condo sales, starts plummet in Metro Vancouver Only two new condominium projects with 200 units launched in the six weeks ending May 15, down 75 per cent from the same period in 2019 Furthermore, Mullinix estimates some 44,000 acres of farmable land is not in production in Metro Vancouver. Canada’s largest provider of purpose-built rental development, Starlight, is planning to build Metro Vancouver’s largest rental housing community. The real estate market in Maple Ridge and Pitt Meadows did nothing in October to cool down from its hot summer. Comments on this story are moderated according to our Submission Guidelines. Read the Vancouver real estate: mansion once rumoured to be eyed by Prince Harry, Meghan Markle sold $27 million - Straight.com and find out a lot of new information with us. Across Metro Vancouver, residential sales totaled 3,064 in November 2020, a 22.7 per cent increase from the 2,498 sales recorded in November 2019, and a 16.9 per cent decrease from the 3,687 homes sold in October 2020. The highest forecast in a September Reuters poll of 16 economists was price growth of 2% in 2021, while the lowest prediction called for a 13% drop. But despite an incredible environment for real estate over the last 10 years, it has actually underperformed highly liquid U.S. stocks. These real estate statistics are paired with rankings of all cities in the Greater Vancouver area based on home sold price, price growth, days on market, and turnover. Housing sales in Metro Vancouver fell almost 17 per cent in November … Pseudonyms will no longer be permitted. November home sales outpace seasonal norms and long-term averages. CMHC Vancouver forecast. Explore all Metro Vancouver real estate with RE/MAX, Canada's #1 Real Estate Brand. The nation's real estate market sales surged by 32.1% last month compared to November 2019. The total number of Metro Vancouver homes currently listed for sale is 11,118, representing a 10 per cent decrease from October 2020. families, as homes have suddenly become a workplace, a school, an entertainment centre and a refuge. Vancouver House Prices Fall By $7K A Month As Sales Hit Record Lows B.C. The FVREB calculates the benchmark prices for the region as: To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). The nation's real estate market sales surged by 32.1% last month compared to November 2019. Loblaw Companies Ltd, the parent company of Real Canadian Superstore and Shoppers Drug Mart provided updates to its COVID-19 employee case listings on Dec. 22 and 23. Vancouver real estate: Downtown condo listings drop for first time in months vancouversun.com - Joanne Lee-Young. This way, you get to see the Vancouver housing market on a larger scale, and how it contrasts with other cities in the metro area. Get the latest news affecting Metro Vancouver’s real estate market. VANCOUVER -- The Real Estate Board of Greater Vancouver says November home sales were down from October - but still well above the same time last … Real Estate New condo sales, starts plummet in Metro Vancouver Only two new condominium projects with 200 units launched in the six weeks ending May 15, down 75 per cent from the same period in 2019 These real estate statistics are paired with rankings of all cities in the Greater Vancouver area based on home sold price, price growth, days on market, and turnover. In total, there were  2,173 property sales, an increase of 54.7 per cent compared to November 2019. Real Canadian Superstore, 333 Seymour Blvd., North Vancouver: The last day the team member worked was on Dec. 4. Vancouver real estate: detached homes priced below $1.5 million benchmark show some affordability left in market Vancouver real estate: mansion … In fact, Canada's two most expensive real estate markets brought the national average up by $122,000. The trough of Metro Vancouver’s real estate market continues to deepen, according to new data released by the Real Estate Board of Greater Vancouver. Vancouver, BC Commercial Real Estate for sale and lease Find property details and pricing for recently listed commercial real estate properties for sale and for lease in Vancouver, BC. Not many realtors in Vancouver have dedicated themselves to one real estate company and office over the course of their entire career. Real estate prices are dropping across Metro Vancouver, and one developer is offering an unusual perk to entice buyers. Can I cancel a listing contract, a buyer agency or an exclusive? It describes the level of demand as "unrelenting," even though like Metro Vancouver, November sales dropped by 8.3 per cent from October. Metro Vancouver's housing market remains at a moderate remains at only moderate risk of a price correction and may be shifting to a seller's advantage, according to … METRO VANCOUVER (NEWS 1130) – It seems Metro Vancouver real estate didn’t exactly stay down for the count. Housing sales in Metro Vancouver fell almost 17 per cent in November compared to the previous month, according to the Real Estate Board of Metro Vancouver. Presently, about one-third of farmed land in Metro Vancouver is leased. The bulls have spoken on the outlook for Metro Vancouver commercial real estate – but some inconvenient data points to disruptions in its unprecedented 10-year run to become Canada’s premier commercial and industrial market.. Vancouver has the second-lowest office vacancy rate and the highest lease rates in the country. "The rise of work-from-home arrangements and physical distancing policies is causing some home buyers to opt for less densified areas," said Gerber. Browse 240 Commercial Real Estate listings in Vancouver, BC ranging from office and retail spaces to land and commercial buildings to find the best deal. However, there’s been considerable increased interest in recent years as the demand for purpose-built rental housing in the Metro Vancouver and Vancouver … Innovation Series: Housing supply and affordability with UDI, Innovation Series: Changing behaviours for open houses. Starlight Developments, a … Mike Smyth: From boom to bust in the Metro Vancouver real estate market. Now more than ever, B.C. Realtors Blame Politicians As Detached Home Prices Drop By $170,000 B.C. More information on the site! Metro Vancouver homes sales are off to the slowest year-to-date start in 33 years. Whatever B.C.’s new government does, deflating Metro Vancouver’s obscenely bloated real estate bubble should be expected to provoke stiff, big-money resistance. Vancouver’s multiresidential property market is coming back from the COVID pause with a flurry of choice properties being made available and an uptick in transaction activity. The Real Estate Board of Greater Vancouver reports that residential sales totalled 3,687 in October 2020. Including residential, houses and condos. Metro Vancouver is a federation of 21 municipalities, one Electoral Area and one Treaty First Nation that collaboratively plans for and delivers regional-scale services. VANCOUVER (NEWS 1130) – With bad news about the economy due to the COVID-19 crisis coming out on an almost-daily basis, many are wondering what this all means for the real estate values in Metro Vancouver. Safety remains the top priority for Metro Vancouver REALTORS® during today’s pandemic. The Metro Vancouver vacancy rate for rental housing has been less than one per cent forever, and the current average rent for a two-bedroom apartment is … Contracts can only be cancelled with the mutual consent of the parties involved. The market saw the sale of 170 houses last month, which was the busiest month reported by any community that is a member of the Real Estate Board of Greater Vancouver … Employees at the following Real Canadian Superstore locations in Metro Vancouver and the Fraser Valley have tested positive for the virus in the last few days: The total inventory of homes listed for sale on the MLS® system in Metro Vancouver was 12,416 a 1.5% increase compared to last year and a 2.6% decrease compared to last month. While there was a slight cooling of the market with a month over month price decrease of 0.3%, the average price of an apartment property in Vancouver is steadily high at $683,500. But the industry group says as trends go, demand remains high, making it a sellers' market. Please note that CBC does not endorse the opinions expressed in comments. Vancouver’s multiresidential property market is coming back from the COVID pause with a flurry of choice properties being made available and an uptick in transaction activity. The development arm of a large, Toronto-based real estate investment fund that has been expanding its B.C. Audience Relations, CBC P.O. Adding to the pressures is the increase in estate homes being built on ALR land. Box 500 Station A Toronto, ON Canada, M5W 1E6. "We expected November activity to moderate due to the season, but the desire for family-sized homes and their benefits continues to dominate," said president Chris Shields. This is a milestone that RE/MAX realtor Andrew Hasman, the recipient of this year’s RE/MAX Luminary of Distinction career achievement award, is especially proud of reaching in his 28th year in the real estate industry through his Vancouver real estate office. Metro Vancouver’s housing market remains at a moderate risk of a price correction and may be shifting to a seller’s advantage, according to CMHC’s Housing Market … Closed Captioning and Described Video is available for many CBC shows offered on CBC Gem. We reserve the right to close comments at any time. By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. The escalating arms race between developers looking to … Metro Vancouver real estate remains at moderate risk of price correction : CMHC. 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