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Making Sense of the Market

February 20, 2017 by Editor

Are you on the fence?

Are you on the fence?

The apartment segment of the market is showing good strength:

  • The Greater Vancouver average apartment price was up almost 13% in one year, and a whopping 29% from 2 years ago.
  • 828 apartments sold this January, compared to 1,095 one year before, and 808 in January 2015.
  • There are fewer apartments for sale now than for most of the past few years.

The numbers for detached houses are not as strong, but not wildly off historic norms:

  • The average sale price of a detached home in January was about 16% lower than it was a year ago – but still more than 16% higher than 2 years ago.
  • For houses, the number of sales was 453 in Jan. 2017, well below the 1,049 sales in January ’16 and 787 in January ’15.
  • At the same time, we see the total number of detached houses for sale is higher than a year ago (4,492 compared to 3,289) but within a couple of percent of the total number that were available in January 2015.

Statistics Source: Real Estate Board of Greater Vancouver

So the only apparent soft spot in our real estate market is in detached houses, especially at the high end of the price range and when compared to the extraordinary sales and prices of one year ago – not so much in historical terms.

Trends vary for different sub-areas and price points.

When it’s time to move, call me for current statistics for any local neighbourhood.

 

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Filed Under: Real Estate Perspective

The News – and the Reality: Trends Affecting Real Estate

November 21, 2018

One of the most popular activities in the daily news cycle seems to be forecasting the future of real estate. And it’s not uncommon to see wildly opposing views on where the market is headed, and when it might get there. This month’s post explores the news — and the reality.

Read More

The Changing Market – What Does That Really Mean?

October 22, 2018

After several years where home sellers had a market advantage, now buyers have more selection, more time to make good decisions, and their dollar buys more house than it used to.

Read More

Great Opportunities for Trading Up or Down…If You Qualify

October 9, 2018

Talk to a mortgage broker if you plan to move. There is still a strong demand for housing especially in retirement and recreational properties.

Read More

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Shannon Realty

Suite 207 5740 Cambie St.,
Vancouver, BC. V5Z 3A6
1-604-649-6058

Email: jeff@shannonrealty.ca

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