Year: 2019
Featured
Scores of Vancouver condo flips headed for a loss
Scores of Metro Vancouver condominium flips currently on the market are headed for a loss, including a “never lived in” unit at a Westbank tower, which was aggressively marketed offshore with a large chunk of the presales going to flippers. OpenHousing defines a flip as a property bought and sold within three years without rebuilding […]
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Featured
Dozens of Metro Vancouver house flips header for a loss
Dozens of Metro Vancouver house flips currently on the market are headed for a loss, with the sellers pricing the properties well below what they originally paid for them. OpenHousing defines a flip as a property bought and sold within three years without rebuilding or renovating substantially. A number of these are foreclosures or court-ordered […]
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Featured
Metro Vancouver flippers flopped over summer
Flippers in Metro Vancouver flopped through summer 2019, with many selling for double digit percentage losses. All detached property flips over the last 90 days in Vancouver, Richmond, Burnaby ended up with the seller getting less than what they originally paid for the property. OpenHousing defines a flip as a property bought and sold within […]
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Featured
Metro Vancouver detached prices showing sharp declines in August
Metro Vancouver detached prices are showing sharp declines in August, with sellers slashing prices by as much as half to get out of the market. The Open Housing Home Price Index for Metro Vancouver detached properties – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 11.8% year-over-year, the August mid […]
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Featured
Metro Vancouver condo prices continue to fall in August
Metro Vancouver condo prices remain locked in a downward trajectory, with the anticipated summer boost not materializing. The Open House House Price Index for Metro Vancouver condos – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 9.5% year-over-year, the August mid month update shows. The slump, which began in the […]
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Featured
Realtor rankings: Foreign buyer exodus hits realtors hard
The rankings for Vancouver’s realtors by volume show that the foreign buyer exodus has hit realtors hard. Royal Pacific Realty Corp realtor Winnie Chung sold $172 million worth of properties between January and July 2016, which marked the last seven months before British Columbia slapped a 15% foreign buyer tax. Chung has barely managed $30 […]
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Uncategorized
Metro Vancouver condo prices fall 18% from peak
Metro Vancouver condo prices have dropped by 18% from the March 2018 peak with some units selling 32% below assessment. The Open House House Price Index for condos – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – fell 8% year-over-year as in July. Looking at home sales reported in the last […]
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Uncategorized
Metro Vancouver detached homes prices down 13% in July
Metro Vancouver detached home prices have dropped by 13% year-over-year, according to the latest sales numbers reported in the region. The Open House House Price Index is calculated using the generally-accepted and transparent repeat sales or Case-Shiller method. Looking at home sales reported in the last 30 days, 40 out 46 single family homes sold […]
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Featured
Metro Vancouver home sales volume plummets nearly 80% from peak
In the 30 days leading up to March 15, 2016, Metro Vancouver detached home sales volume averaged a staggering $159 million dollars a day. In the 30 days leading up to June 11, 2019, the figure had dropped to just $33 million –– a 79% plunge, and a year-over-year drop of 41%. Condo sales are […]
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Featured
Metro Vancouver condo prices fall 11% from peak
Metro Vancouver condo prices have dropped by 11% from the March 2018 peak, and some recently completed condos are selling up to 30% below assessment. The Open House House Price Index for condos – calculated using the generally-accepted and transparent repeat sales or Case-Shiller method – has fallen 9% year-over-year as of today. Vancouver Looking […]
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