2020 seems to have come in with a bang, at least on the real estate front. A number of clients have contacted me this month, looking to sell as soon as possible. And I'm helping several buyers, on the hunt for quality properties. One recently-listed property sold in a day with four offers; my client and I decided to sit that one out.
As mentioned in my December e-news, the desirable properti ...
My July e-news noted two ways of gauging real estate activity: Days on market, and the sales to listing ratio. Today we'll delve into months of inventory (MOI). This is simply the number of active listings in a particular market, or preferably a precise sub-market, on a given day divided by the number of sales in that market/sub-market the previous month.
For example, on Oct 21, 582 detached ...
This fall has begun with much uncertainty in Metro Vancouver's housing market. While many sellers and buyers continue to take are a "wait and see" attitude, others are proactively choosing to go ahead and list and sell their homes now, or continue their home search. Some because the time is right for them, others because they're concerned about the longer effects of continuing market uncertai ...
Of all the numbers you might see regarding real estate activity none are more telling than "days on market" and "sales to active" statistics.
"Days on market" indicates how many days a listed property is on the market before a firm contract is reached. During this listing time period the price may be reduced as necessary (or even occasionally increased!) and in most cases much effort would h ...
What a difference a year makes. Buying and selling Metro Vancouver homes this spring may seem like a 180 degree change from this time last year. You’ve no doubt heard or read about how much "the market” is “off” – both in terms of sales volumes and, to a lesser extent, prices. Long-time readers will recognize some of the discussion below; however, given the media reports we're subjected to on ...
As we move into the new year, we see an unprecedented number of real estate variables at play locally and around the world. Financial, economic, cultural, political. Locally we've got the new mortgage stress test, the speculation tax, the empty homes tax, the foreign buyers' tax, and the effects of strengthened currency and tax controls in China. These variables and others will affect buyers' ...
Despite a number of government-led factors designed to cool demand, 2018 was another active year in most Metro Van real estate markets. I can personally attest to this, having had an incredibly active year myself. Particularly up until early November, when the market slowed considerably.
I wouldn't suggest listing your home this late in the year. If you're thinking of selling, however, it wou ...
With all the talk and media attention about reduced home sales activity these past few months, we tend to forget that sometimes people just need to, or want to, move. This is true regardless of whether the market is going up or going down. (And remember, "the market" for you as an individual homeowner is not what you read about. Rather it’s the many specific attributes of the home you own - o ...
For those thinking of purchasing an island property - whether on Bowen or Gabriola or Quadra or anywhere in between - here's the type of things to keep in mind, ranging from location and water supply to beach access and even archeological issues. (First published on my blog a couple of years ago, updated to include recent issues).
Here's some things to consider*:
How long will it tak ...
The housing market has been in focus more than usual this past month with the release of the provincial and federal budgets. The federal budget had little to say about housing; the provincial budget, as expected, much more.
The BC budget has been analyzed backwards and forwards over the past week, so I won't get into it here. One aspect, however, warrants some discussion.
A "speculation" ta ...