Year: 2019
Featured
Buyer beware: The curious case of the shrinking condo
When a presale assignment for condo unit 2609 of Westbank’s Vancouver House first appeared on the market in October 2015, the listing indicate the unit had an area of 900 square feet. The listing realtor Dexter Realty’s Kris Pope eventually managed to sell the unit for $880,000 fetching $977 per square foot. When the buyer […]
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Featured
Westbank’s Vancouver House presale flippers hit by market downturn
Many investors hoping to flip presale units at Westbank’s Vancouver House condo project have failed in their attempts as other potential buyers flee the region’s falling housing market amid attempts by the province to crackdown on money laundering in real estate. Only three out of the 22 units that came on the market in the […]
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Featured
Vancouver Market Update for May 14, 2019
Vancouver housing market slump continued unabated with 30 trailing days’ median change from assessment for detached houses plunging to 10.7% below 2019 assessed value. This marks a home price drop of 14.2% year-over-year and 1.73% month-over-month. 21 out of the 24 home sales recorded in the last seven days sold below assessed. Even recently built […]
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Featured
Vancouver Market Update for May 10, 2019
Vancouver detached housing market remained in the doldrums with the median change from assessment being 9.9% on the downside in the trailing 30 days. Home prices have dropped 13.3% year-over-year and 2.07% month-over-month. 27 out of the 31 home sales recorded in the last seven days sold below assessed. Even recently built houses were selling […]
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Featured
Condo developer puts land up for sale
A developer who bought up seven Cambie Corridor properties with plans to redevelop the site as a low-rise development appears to has put the land up for sale. Buffalo Properties Inc had planned to develop apartments along the 500 block of 65th and 64th avenue, which fall under Cambie Corridor Phase 3. Every property is […]
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Featured
Vancouver Market Update for May 8, 2019
The Vancouver detached market contraction shows no signs of easing, with a the median sold price compared to assessment for the trailing 30 days falling to 10.7% below 2019 assessed value. Vancouver single family home prices have dropped 14.2% year-over-year and 2.7% month-over-month as of today. Sales recorded in the last seven days Sales recorded […]
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Featured
Vancouver Market Update for May 7, 2019
The Vancouver detached market continued it’s downward trajectory, with a the median sold price compared to assessment for the trailing 30 days falling to 10.6% below 2019 assessed value. Vancouver single family home prices have dropped 14.2% year-over-year and 3.1% month-over-month. Sales recorded in the last seven days Sales recorded in the last seven days […]
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Featured
More Vancouver detached homes sell for less than a million in April 2019
At least seven Vancouver detached homes sold for under a million in April 2019 – up from just two sub-million sales last months – as the city’s real estate market cooldown gathered pace. 63 of the 78 single family home sales so far recorded sold below the current assessment, with the median sale price for […]
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Uncategorized
North Vancouver’s commercial Airbnb operators
City of Vancouver is not the only municipality in the Lower Mainland with a serious Airbnb infestation. Contrary to Airbnb’s narrative that the platform is only used by empty nesters renting out short term a “spare bedroom” to “make ends” meet, short term rental business in North Vancouver is also dominated by commercial operators. Here […]
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Uncategorized
Vancouver home sellers in denial as the market edges lower
An analysis of asking prices for the 860 currently active detached home listings for Vancouver show that the vast majority of home sellers are in denial about the real estate market cool down. In March 2019, three out of four homes sold below current assessment, with the median sale price for a used detached house […]
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