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Housing sales in Metro Vancouver fell almost 17 per cent in November compared to the previous month, according to the Real Estate Board of Metro Vancouver. Now more than ever, B.C. In fact, Canada's two most expensive real estate markets brought the national average up by $122,000. "We expected November activity to moderate due to the season, but the desire for family-sized homes and their benefits continues to dominate," said president Chris Shields. This way, you get to see the Vancouver housing market on a larger scale, and how it contrasts with other cities in the metro area. It’s part of the company’s ongoing move into the British Columbia market. The real estate market in Maple Ridge and Pitt Meadows did nothing in October to cool down from its hot summer. The composite benchmark price for residential properties in Metro Vancouver was just over $1 million, up 0.3 per cent from August and 5.8 per … It is a priority for CBC to create a website that is accessible to all Canadians including people with visual, hearing, motor and cognitive challenges. Housing sales in Metro Vancouver fell almost 17 per cent in November compared to the previous month, according to the Real Estate Board of Greater Vancouver. Can I cancel a listing contract, a buyer agency or an exclusive? Vancouver, BC Commercial Real Estate for sale and lease Find property details and pricing for recently listed commercial real estate properties for sale and for lease in Vancouver, BC. Canada News Media provides the latest news from Canada! The Multi Listing Service home price index composite benchmark price for all residential properties in Metro Vancouver — detached homes, townhomes and apartments — is $1,044,000, a 5.8 per cent increase year-over-year and a 0.1 per cent decrease compared to October 2020. Employees at the following Real Canadian Superstore locations in Metro Vancouver and the Fraser Valley have tested positive for the virus in the last few days: "This is putting upward pressure on home prices, particularly in our detached and townhome markets," she said. View homes for sale in Metro Vancouver, British Columbia, property images, MLS® house details and more! "Since the summer, we've seen the strongest demand in our board's 99 year history, specifically for single-family detached and townhomes,". It describes the level of demand as "unrelenting," even though like Metro Vancouver, November sales dropped by 8.3 per cent from October. BC Strata insurers to end ‘best terms pricing’, 34 ways home buyers, sellers and owners can save money. Real estate prices are dropping across Metro Vancouver, and one developer is offering an unusual perk to entice buyers. Realtors Blame Politicians As Detached Home Prices Drop By $170,000 B.C. Get the latest news affecting Metro Vancouver’s real estate market. For example, the BC Real Estate Association (BCREA) economist, BCREA is a real estate industry advocacy organization, predicts Greater Vancouver prices will rise 6% in 2021. Empty storefronts on Robson Street, Vancouver. Metro Vancouver real estate remains at moderate risk of price correction : CMHC. National real estate market stayed red-hot in November by Neil Sharma. Housing sales in Metro Vancouver fell almost 17 per cent in November compared to the previous month, according to the Real Estate Board of Metro Vancouver. Real Estate New condo sales, starts plummet in Metro Vancouver Only two new condominium projects with 200 units launched in the six weeks ending May 15, down 75 per cent from the same period in 2019 By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Comments on this story are moderated according to our Submission Guidelines. While there was a slight cooling of the market with a month over month price decrease of 0.3%, the average price of an apartment property in Vancouver is steadily high at $683,500. Metro Vancouver’s housing market remains at a moderate risk of a price correction and may be shifting to a seller’s advantage, according to CMHC’s Housing Market … Urban Development Institute CEO Anne McMullin discusses the trends affecting housing supply and affordability in Metro Vancouver. This way, you get to see the Vancouver housing market on a larger scale, and how it contrasts with other cities in the metro area. Its core services are drinking water, wastewater treatment and solid waste management. The development arm of a large, Toronto-based real estate investment fund that has been expanding its B.C. VANCOUVER (NEWS 1130) – With bad news about the economy due to the COVID-19 crisis coming out on an almost-daily basis, many are wondering what this all means for the real estate values in Metro Vancouver. Comments are welcome while open. Vancouver’s real estate “bubble risk” is the worst in the world, according to the Global Real Estate Bubble Index compiled by the Swiss bank UBS. The Sunshine Coast showed the largest increase in year-over-year sales according to the data, with Squamish and the Gulf Islands not far behind. Please note that CBC does not endorse the opinions expressed in comments. families, as homes have suddenly become a workplace, a school, an entertainment centre and a refuge. Loblaw Companies Ltd, the parent company of Real Canadian Superstore and Shoppers Drug Mart provided updates to its COVID-19 employee case listings on Dec. 22 and 23. Vancouver real estate: Downtown condo listings drop for first time in months vancouversun.com - Joanne Lee-Young. Demand is putting upward pressure on prices, as year over year condo prices continue to rise according to the Metro Vancouver Real Estate Board. I frequently hear about how owning direct real estate, especially in Metro Vancouver, is a "no brainer" investment, for even the least-sophisticated investor. Including residential, houses and condos. REBGV's monthly tally shows 3,064 homes sold last month across the region, compared to 3,687 in October 2020. This is a milestone that RE/MAX realtor Andrew Hasman, the recipient of this year’s RE/MAX Luminary of Distinction career achievement award, is especially proud of reaching in his 28th year in the real estate industry through his Vancouver real estate office. Metro Vancouver’s picturesque appeal hasn’t been lost on those who spend much of their working days hunkered down in (home) offices. The escalating arms race between developers looking to … BC's Land Owner Transparency Registry now in force: what you need to know Compared to November 2019, sales were up 22.7 per cent. Safety remains the top priority for Metro Vancouver REALTORS® during today’s pandemic. Get instant access to a lot of relevant information about Greater Vancouver, BC real estate, including property descriptions, virtual tours, maps and photos. VANCOUVER -- The Real Estate Board of Greater Vancouver says November home sales were down from October - but still well above the same time last … More information on the site! "The rise of work-from-home arrangements and physical distancing policies is causing some home buyers to opt for less densified areas," said Gerber. Real estate roundup: Greater Vancouver, BC housing market overview Point2 gives you far more than a simple list of houses for sale. Loblaw Companies Ltd, the parent company of Real Canadian Superstore and Shoppers Drug Mart provided updates to its COVID-19 employee case listings on Dec. 22 and 23. Real Canadian Superstore, 4700 Kingsway, Burnaby: Two team members tested positive for COVID-19. Metro Vancouver homes sales are off to the slowest year-to-date start in 33 years. Vacant and Neglected Real Estate in Vancouver. Across Metro Vancouver, residential sales totaled 3,064 in November 2020, a 22.7 per cent increase from the 2,498 sales recorded in November 2019, and a 16.9 per cent decrease from the 3,687 homes sold in October 2020. With COVID-19 cases on the rise, REALTORS® are committed to adhering to the province’s latest physical distancing requirements and conducting as much of their business as possible in a virtual environment. We reserve the right to close comments at any time. Explore all Metro Vancouver real estate with RE/MAX, Canada's #1 Real Estate Brand. LATEST NEWS Vancouver’s Empty Homes Tax increases to three per cent Mayor Kennedy Stewart has followed through on a 2018 election campaign promise and has tripled the Empty Homes Tax rate to three per cent. Metro Vancouver, Fraser Valley remain a sellers' markets, say real estate groups. With COVID-19 cases on the rise, REALTORS® are committed to adhering to the province’s latest physical distancing requirements and conducting as much of their business as possible in a virtual environment. (CMHC) Total housing starts — new construction — could range from 11,925 units to 17,710 units in 2020, 15,290 units to 23,475 units in 2021, and 16,050 units to 24,060 units in 2022. Vancouver real estate: detached homes priced below $1.5 million benchmark show some affordability left in market Vancouver real estate: mansion … This is a milestone that RE/MAX realtor Andrew Hasman, the recipient of this year’s RE/MAX Luminary of Distinction career achievement award, is especially proud of reaching in his 28th year in the real estate industry through his Vancouver real estate office. These real estate statistics are paired with rankings of all cities in the Greater Vancouver area based on home sold price, price growth, days on market, and turnover. The Real Estate Board of Greater Vancouver says it saw strong demand and sales in November, especially in the more remote areas of the region like the Sunshine Coast. Not many realtors in Vancouver have dedicated themselves to one real estate company and office over the course of their entire career. Commercial real estate firms report more apartment building and development site listings year-over-year in September. Despite measures to slow the local housing market, there is more evidence it is ramping up again, and faster than anticipated. The market saw the sale of 170 houses last month, which was the busiest month reported by any community that is a member of the Real Estate Board of Greater Vancouver … Canada’s biggest landlord is planning Metro Vancouver’s largest rental housing development near Burnaby’s Lougheed Town Centre. Furthermore, Mullinix estimates some 44,000 acres of farmable land is not in production in Metro Vancouver. 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