This month, the average prices for both furnished and unfurnished one-bedroom units in Metro Vancouver have decreased, with furnished units experiencing a significant drop. As of May 2024, unfurnished one-bedroom units are, on average, $156 cheaper than their furnished counterparts.
In May 2024, Metro Vancouver saw a surge in new property listings, with a total of 6,374 detached, attached, and apartment properties listed on the MLS®. This marked a significant 12.6 % increase from the previous year’s 5,661 listings. Despite this surge, sales for the month of May saw a 19.9 per cent decrease from the 3,411 sales recorded in May 2023. … Read more
As a tenant, there are certain expectations that come with renting a property, and one of those expectations is having a working oven. Unfortunately, not all landlords take their responsibility seriously, and some may leave their tenants without a functioning oven for an extended period of time. This can be incredibly frustrating and even dangerous … Read more
As the real estate industry grows and becomes more complex, there are numerous terms and concepts that can be confusing for those new to the business. One such term is underwriting. Underwriting is an essential aspect of real estate that is often overlooked but plays a critical role in determining the success of a real … Read more
Real estate is a lucrative business that has become increasingly popular over the years, with many investors looking to make a killing in the market. However, finding the right investors can be a daunting task, especially for those new to the industry. Whether you are looking for seed funding, joint ventures, or private equity, the … Read more
As a tenant, you expect your property management company to provide you with a comfortable and safe living environment. However, if the property management company fails to fulfill its responsibilities, resulting in injuries or damages, you may wonder if you can sue them for negligence. Whether it is a slip and fall accident, unsafe living … Read more
In January, home sellers in Metro Vancouver were not very active. However, in February, new listings increased by 31 percent when compared to the same period last year. This resulted in a significant number of newly listed properties being available in the market. According to Greater Vancouver REALTORS® (GVR) report, there were 2,070 residential sales … Read more
According to the latest report, the average rent prices in Metro Vancouver have increased in February. The average rent price for an unfurnished one-bedroom apartment has risen by $12, making the new average rent $2,379. This marks an increase of $128 compared to the average rate in February 2023.
In January 2024, the real estate market in Metro Vancouver showed signs of favouring sellers again after a balanced end to 2023. The pace of new property listings couldn’t match the high volume of home sales. According to the Real Estate Board of Greater Vancouver (REBGV), there were 1,427 residential sales in January 2024, marking … Read more
After three consecutive decreases, Metro Vancouver has seen an increase in average rent prices this January. The latest data reveals a noteworthy uptick, with the average monthly rent price for an unfurnished, one-bedroom unit climbing by $26 to reach a new average of $2,367. This marks a significant shift since January 2023, reflecting an overall … Read more
This December saw a total of 1,345 residential sales, a 3.2 percent increase from the 1,303 sales recorded in December 2022. Across all detached, attached and apartment property types, the sales-to-active listings ratio for December 2023 is 16 percent. “You could miss it by just looking at the year-end totals, but 2023 was a strong … Read more
Rental units in Metro Vancouver have seen a decrease in average rental prices again, making this the third consecutive month of pricing decrease. Despite this, the average price for an unfurnished bedroom home in December 2023 is still $114 more expensive than that of December 2022.