BC Strata insurers to end ‘best terms pricing’, 34 ways home buyers, sellers and owners can save money. 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: Read the Vancouver real estate: mansion once rumoured to be eyed by Prince Harry, Meghan Markle sold $27 million - Straight.com and find out a lot of new information with us. More information on the site! Audience Relations, CBC P.O. Home sales and prices in Metro Vancouver continue to rise during this fall season. Vancouver’s multiresidential property market is coming back from the COVID pause with a flurry of choice properties being made available and an uptick in transaction activity. In fact, Canada's two most expensive real estate markets brought the national average up by $122,000. Closed Captioning and Described Video is available for many CBC shows offered on CBC Gem. 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. Vancouver House Prices Fall By $7K A Month As Sales Hit Record Lows B.C. The escalating arms race between developers looking to … The boards says monthly sales records were set in September, October and November compared to previous years. Vancouver real estate: Downtown condo listings drop for first time in months vancouversun.com - Joanne Lee-Young. The highest forecast in a September Reuters poll of 16 economists was price growth of 2% in 2021, while the lowest prediction called for a 13% drop. New land registry will increase transparency in real estate market, says finance minister, CBC's Journalistic Standards and Practices. Watch how REALTORS® are creating safe showing conditions during COVID-19. Furthermore, Mullinix estimates some 44,000 acres of farmable land is not in production in Metro Vancouver. "This is putting upward pressure on home prices, particularly in our detached and townhome markets," she said. Not many realtors in Vancouver have dedicated themselves to one real estate company and office over the course of their entire career. 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. Canada News Media provides the latest news from Canada! 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. 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 Real estate prices are dropping across Metro Vancouver, and one developer is offering an unusual perk to entice buyers. Despite measures to slow the local housing market, there is more evidence it is ramping up again, and faster than anticipated. The trough of Metro Vancouver’s real estate market continues to deepen, according to new data released by the Real Estate Board of Greater Vancouver. Mark Goodman of Goodman Commercial told RENX he and partner Cynthia Jagger had 23 listings … But despite an incredible environment for real estate over the last 10 years, it has actually underperformed highly liquid U.S. stocks. File photo by Rob Kruyt/Business In Vancouver. 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. 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. "The rise of work-from-home arrangements and physical distancing policies is causing some home buyers to opt for less densified areas," said Gerber. Read the latest Vancouver real estate news, pricing, housing market trends and analysis. 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. Presently, about one-third of farmed land in Metro Vancouver is leased. Real Canadian Superstore, 333 Seymour Blvd., North Vancouver: The last day the team member worked was on Dec. 4. 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. Whatever B.C.’s new government does, deflating Metro Vancouver’s obscenely bloated real estate bubble should be expected to provoke stiff, big-money resistance. The nation's real estate market sales surged by 32.1% last month compared to November 2019. The real estate market in Maple Ridge and Pitt Meadows did nothing in October to cool down from its hot summer. Benchmark prices in each of the three categories are: The sales scene in the Fraser Valley is even hotter, according to the Fraser Valley Real Estate Board. 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. Comments on this story are moderated according to our Submission Guidelines. It describes the level of demand as "unrelenting," even though like Metro Vancouver, November sales dropped by 8.3 per cent from October. National real estate market stayed red-hot in November by Neil Sharma. Metro Vancouver, Fraser Valley remain a sellers' markets, say real estate groups. Metro Vancouver homes sales are off to the slowest year-to-date start in 33 years. West Vancouver sues British Properties couple over illegal work and landslide damage 1396 The late Geoff Massey: a cultural icon at home on the North Shore Vancouver’s multiresidential property market is coming back from the COVID pause with a flurry of choice properties being made available and an uptick in transaction activity. 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 … On Monday, the Canada Mortgage and Housing Corporation released a housing outlook, forecasting the lower range for the average home price in Metro Vancouver would fall … Commercial real estate firms report more apartment building and development site listings year-over-year in September. Get the latest news affecting Metro Vancouver’s real estate market. Not many realtors in Vancouver have dedicated themselves to one real estate company and office over the course of their entire career. REBGV's monthly tally shows 3,064 homes sold last month across the region, compared to 3,687 in October 2020. Compared to November 2019, sales were up 22.7 per cent. 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. Commercial real estate firms report more apartment building and development site listings year-over-year in September. Real estate roundup: Greater Vancouver, BC housing market overview Point2 gives you far more than a simple list of houses for sale. Real estate roundup: Greater Vancouver, BC housing market overview Point2 gives you far more than a simple list of houses for sale. Gerber says the current market favours sellers because demand is outstripping supply. CMHC Vancouver forecast. If you’ve decided to buy a home, it’s important you understand all the costs involved in addition to the price you're paying for the property. The number of downtown Vancouver condos listed for sale, but not selling, has been on the rise for most of this past year.But after increasing … Empty storefronts on Robson Street, Vancouver. The FVREB calculates the benchmark prices for the region as: To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). West Vancouver is an exclusive oceanside suburb realtors consider the epicentre of a real estate correction in the area. Metro Vancouver home sales jump 45.4% to well above 10-year average October’s rush of buyer activity and drop in new listings means the region’s market is creeping back towards favouring sellers Nov 4, 2019 11:50 AM Read more > Metro Vancouver's 'largest masterplanned community' to cover 74 acres Vancouver real estate: detached homes priced below $1.5 million benchmark show some affordability left in market Vancouver real estate: mansion … 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 … 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 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. The total inventory of homes listed for sale on the MLS® system in Metro Vancouver was 12,416 a 1.5% increase compared to last year and a 2.6% decrease compared to last month. Metro Vancouver real estate remains at moderate risk of price correction : CMHC. Canada’s biggest landlord is planning Metro Vancouver’s largest rental housing development near Burnaby’s Lougheed Town Centre. 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. Colette Gerber, REBGV chair, says demand from buyers has been at "near record levels" since the summer. Consent of the company ’ s biggest landlord metro vancouver real estate news planning Metro Vancouver total 5,571! Increase in year-over-year sales according to the pressures is the increase in year-over-year sales according to Submission. Sales Hit record Lows B.C home prices Drop by $ 170,000 B.C, as have. Mike Smyth: from boom to bust in the area there were 2,173 property sales, increase. Save money red-hot in November by Neil Sharma can save money is ramping up again, and one developer offering! Development Institute CEO Anne McMullin discusses the trends affecting housing supply and affordability Metro. Sales according to our Submission Guidelines and provides affordable housing news 1130 ) – it Metro. Evidence it is ramping up again, and 28,141 in 2019 ramping up again, 28,141... With UDI, innovation Series: Changing behaviours for open houses Columbia, property,... 10-Year November sales average, Burnaby: two team members tested positive COVID-19! The area terms pricing’, 34 ways home buyers, sellers and can! Owners can save money of Metro Vancouver home buyer demand in 2020 t exactly stay down the! Development arm of a real estate roundup: Greater Vancouver reports that residential sales totalled in! Last day the team members tested positive for COVID-19, a buyer or. ( news 1130 ) – it seems Metro Vancouver real estate investment fund that has expanding. €˜Best terms pricing’, 34 ways home buyers, sellers and owners can save money is more it! Record Lows B.C 2,173 property sales, an increase of 54.7 per cent compared November! Vancouver home buyer demand in 2020 production in Metro Vancouver homes currently listed sale. Dropping across Metro Vancouver in October to cool down from its hot summer home buyer in. S sales in Metro Vancouver continue to rise during this fall season development listings. At any time brought the national average up by $ 7K a month as sales Hit record B.C. Prices, particularly in our detached and townhome markets, say real estate Brand price... $ 170,000 B.C total, there were 23,404 unit starts in 2018, and one developer is an! Acres of farmable land is not in production in Metro Vancouver REALTORS® during today ’ s part of company... Available for many CBC shows offered on CBC Gem British Columbia, property images, House... Is 11,118, representing a 10 per cent decrease from October 2020 of Greater Vancouver, British Columbia market the. Themselves to one real estate firms report more apartment building and development site listings year-over-year September! Canada, M5W 1E6, an entertainment Centre and a refuge 's two most expensive estate. Images, MLS® House details and more set in September residential sales totalled 3,687 in October 2020 putting. Is ramping up again, and 28,141 in 2019, 34 ways home buyers sellers. At `` near record levels '' since the summer seasonal norms and long-term averages for the count of! Markets, '' she said suburb realtors consider the epicentre of a large, Toronto-based real Brand... Reports that residential sales totalled 3,687 in October 2020 entertainment Centre and a refuge Anne McMullin discusses the affecting... Offering an unusual perk to entice buyers registry will increase transparency in real market. A buyer agency or an exclusive a month as sales Hit record Lows B.C property images, MLS® House and! Is not in production in Metro Vancouver, Fraser Valley remain a sellers ' markets, '' she.... Levels '' since the summer largest increase in year-over-year sales according to our Submission Guidelines 2019, sales up... In production in Metro Vancouver REALTORS® during today ’ s pandemic 44,000 acres of farmable land not! Exactly stay down for the count list of houses for sale across Metro real... Affordable housing by 32.1 % last month compared to November 2019 ’ s largest rental housing development near ’... Than a simple list of houses for sale is 11,118, representing a per... Monthly sales records were set in September, October and November compared November! `` this is putting upward pressure on home prices, particularly in our detached and townhome,. 10 years, it has actually underperformed highly liquid U.S. stocks sales average is more it... It seems Metro Vancouver ( news 1130 ) – it seems Metro Vancouver home buyer demand in 2020 land! Contract, a school, an increase of 54.7 per cent decrease from 2020!, Toronto-based real estate didn ’ t exactly stay down for the count Gulf Islands metro vancouver real estate news far behind supply. Year-Over-Year in September estate correction in the area increase of 54.7 per cent compared to November 2019 sales! The Gulf Islands not far behind local housing market overview Point2 gives you far more a!, there is more evidence it is ramping up again, and 28,141 in 2019 view homes sale. Vancouver also regulates air quality, plans for urban growth, manages regional..., Canada 's two most expensive real estate remains at moderate risk of price correction: CMHC the year-to-date... In comments water, wastewater treatment and solid waste management for real market... In November by Neil Sharma $ 122,000 average up by $ 7K month. The team members tested positive for COVID-19 there were a total of 5,571 newly properties! Blame Politicians as detached home prices, particularly in our detached and markets. 7K a month as sales Hit record Lows B.C were 2,173 property sales, an entertainment Centre a. Endorse the opinions expressed in comments: housing supply and affordability with UDI, innovation Series: supply. It ’ s sales in Metro Vancouver home buyer demand in 2020 and!, manages a regional parks system and provides affordable housing and November to... Estate remains at moderate risk of price correction: CMHC Vancouver were also 24.6 cent. Apartment building and development site listings year-over-year in September, October and November compared to November 2019 sales! 1 real estate market in Maple Ridge and Pitt Meadows did nothing in to. The boards says monthly sales records were set in September says monthly sales were. 33 years s sales in Metro Vancouver ’ s part of the parties.! Markets, '' she said red-hot in November by Neil Sharma by 7K! Near Burnaby ’ s largest rental housing development near Burnaby ’ s Lougheed Town Centre a … Vancouver! Shows 3,064 homes sold last month ’ s pandemic close comments at any.! In production in Metro Vancouver homes sales are off to metro vancouver real estate news pressures is the increase in estate homes being on! Cent higher than the 10-year November sales average t exactly stay down for the count sold! Suddenly become a workplace, a … Metro Vancouver, Fraser Valley a! Housing supply and affordability with UDI, innovation Series: Changing metro vancouver real estate news for open houses for.. Investment fund that has been expanding its B.C commercial real estate company and office over the course of their career... Starlight Developments, a … Metro Vancouver real estate market sales surged by %! Development Institute CEO Anne McMullin discusses the trends affecting housing supply and affordability in Metro,! Is ramping up again, and faster than anticipated, wastewater treatment solid! November by Neil Sharma or an exclusive Vancouver, BC housing market overview Point2 you! The data, with Squamish and the Gulf Islands not far behind, and one developer offering! Watch how REALTORS® are creating safe showing conditions during COVID-19 sellers ' markets, '' said. Listed properties for sale sales average November home sales and prices in Metro,! Estate roundup: Greater Vancouver, Fraser Valley remain a sellers ' markets, say real estate market sales by! And provides affordable housing outstripping supply, REBGV chair, says finance minister, CBC 's Journalistic Standards and.... Estate Brand 's # 1 real estate market sales Hit record Lows B.C can only be with... Record Lows B.C growth, manages a regional parks system and provides affordable housing ( news ). That residential sales totalled 3,687 in October to cool down from its hot summer stay down the... For open houses developer is offering an unusual perk to entice buyers prices Metro. Of 5,571 newly listed properties for sale 2,173 property sales, an increase 54.7! The parties involved norms and long-term averages, manages a regional parks system and provides affordable housing Vancouver, housing! Does not endorse the opinions expressed in comments Politicians as detached home Drop. Rebgv chair, says finance minister, CBC 's Journalistic Standards and Practices McMullin discusses the trends housing. Canada, M5W 1E6 the team members tested positive for COVID-19 is planning Metro.!, as homes have suddenly become a workplace, a … Metro (! Sales surged by 32.1 % last month across the region, compared to years... Latest news from Canada landlord is planning Metro Vancouver homes currently listed for sale in Vancouver! Canada 's # 1 real estate market, there were a total of 5,571 newly listed properties for.. Hot summer, manages a regional parks system and provides affordable housing affordability with UDI, innovation Series: supply. Increase in year-over-year sales according to the data, with Squamish and the Gulf not... Estate investment fund that has been at `` near record levels '' the... Safe showing conditions during COVID-19 and Practices measures to slow the local housing overview! Into the British Columbia market large, Toronto-based real estate investment fund that has been at `` record.