Although home sales in Metro Vancouver are still lower than expected around this time of year, the housing market has seen a significant increase in activity in the last few months, rising near to levels seen last spring, before eight consecutive interest rate hikes eroded borrowing power and brought home sales activity down along with … Read more
April saw an inverse of the pricing trend we’ve been witnessing since the beginning of the year, with unfurnished one-bedroom homes seeing an increase in the average rental price, while furnished one-bedroom homes saw a decrease in their average rental price. Since April 2022, the average rent for an unfurnished, one-bedroom unit in Metro Vancouver … Read more
For the second month in a row, unfurnished one-bedroom rental prices have dropped across the region of Metro Vancouver, excluding only the communities of Vancouver and West Vancouver, which both saw rental increases for unfurnished one-bedroom units slightly over 2%. According to liv.rent, the average price for an unfurnished one-bedroom unit has fallen by $43 … Read more
The Real Estate Board of Greater Vancouver reported that March saw 2,535 house sales; a 45.2% decrease from the 4,405 sales made in March 2022. Despite this, home prices across Metro Vancouver have increased modestly since the start of the year, and this is expected to continue this Spring. The MLS® Home Price Index composite … Read more
Metro Vancouver is an area with a wide range of rental rates. For example, West Vancouver had the highest prices for one, two and three-bedroom homes, both furnished and unfurnished, in consecutive months, while North Vancouver had the highest prices for furnished units. On the other hand, Coquitlam had the least expensive one-bedroom furnished units … Read more
Recent data from February indicates that many potential sellers in Metro Vancouver still hesitate to participate in the local real estate market, leading to a below-average number of transactions. This lack of engagement has caused inventory levels in the region to increase slightly compared to previous years. This trend towards reduced activity is far from … Read more
Inventory remains low in Metro Vancouver* while home sales dipped well below monthly historical averages in January. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,022 in January 2023, a 55.3 percent decrease from the 2,285 sales recorded in January 2022, and a 21.1 percent decrease … Read more
This upward trend we’ve been experiencing in rent prices in and around Metro Vancouver is not expected to continue. With the Bank of Canada’s interest rate increases slowing down, rental prices could potentially decrease as well. Since January 2022, the average rent for an unfurnished, one-bedroom apartment has increased by $430. This is an unprecedented … Read more
In 2022, Metro Vancouver’s housing market took a cautious approach due to the rise in borrowing costs caused by the Bank of Canada’s ongoing fight with inflation. According to the Real Estate Board of Greater Vancouver (REBGV), residential home sales in the area totalled 28,903, which is a 34.3% drop from the 43,999 sold in … Read more
After months of skyrocketing rental prices in Metro Vancouver, renters finally experienced some relief in December. For only the second time in 2022, an average drop of $90 has been recorded. The average monthly rate for unfurnished one-bedroom units rested at a more manageable $2,227, just in time for the traditionally slow winter season.
While typically a quiet month of market activity based on seasonal patterns, November home sale and listing totals lagged below the region’s long-term averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,614 in November 2022, a 52.9 per cent decrease from the 3,428 sales recorded … Read more
November sees yet another month-to-month average price increase in Metro Vancouver. From October to November 2022, the region-wide average rent increased by $61 to a new average of $2,317 per month for an unfurnished, one-bedroom unit. This marks yet another yearly high and brings prices well above the $2,300 mark, with some cities posting even … Read more