Happy New Year !!!!

I hope you are having a great start to the year. As mentioned last month we are officially in a balanced market in Downtown Vancouver ( in a balanced market the sales-to-active listings ratio is between 12% and 20% meaning 1.2 to 2 homes out of 10 are selling ). The current ratio is at 13% and is slowly moving towards a Buyer’s Market but we have a long way to go befo ...

November 2018 Statistics for Downtown Vancouver Condos 

As the market changes, corrects and heads back to the first normalized market we have seen in over 5 years, we need to get one thing clear in all of our heads - this is not a bad market - this is the new normal. 

We are officially in a balanced market in Downtown Vancouver. Just to be clear, in a balanced market the sales-to-active l ...

How Vancouver Real Estate Has Changed in the Past 20 Years

I gave my notice to Sotheby's International Realty Canada in November 2018 to return to Sutton Group West Coast. Sotheby’s was a wonderful place to hang my license and I will always regard Sotheby's as one of the greatest brands in the world, but the world of real estate has changed significantly in the past 10 years and it was time ...

How Vancouver Real Estate Has Changed in the Past 20 Years

I gave my notice to Sotheby's International Realty Canada in November 2018 to return to Sutton Group West Coast. Sotheby’s was a wonderful place to hang my license and I will always regard Sotheby's as one of the greatest brands in the world, but the world of real estate has changed significantly in the past 10 years and it was t ...

As predicted, October has brought a lot of changes to our real estate market.  

Focusing on the Downtown Vancouver market, the median price decreased 11% from September 2018 and 21% from the peak of the market in January 2018. The dollar per square foot also decreased from $1,043 to $979 which is a 6% drop.

There were 143 sales (6 per day) in Downtown Vancouver in October which was up ...

Focusing on the Downtown Vancouver market, the median price actually went up 6% due to two significant sales over $5 million dollars. However, don’t be mislead or believe the market is getting stronger. Two very important indicators of a healthy real estate market are the number of transactions and whether inventory is increasing or decreasing. 

There were 126 sales in Downtown Vancouver ...

August 2018 Statistics for Downtown Vancouver Condos 

Condos in Downtown Vancouver are down 16.42% from the peak in January but what’s more of indicator of the market is the activity which is down 39.68% from a year ago. Although inventory is slightly down from last month, we will most likely see spike in inventory for the September October months. There were only 10 sales of condos ov ...

Beneficial Ownership Registry.  In addition to requiring further beneficial ownership information to be disclosed on Property Transfer Tax filings, the Province is establishing a public registry recording beneficial ownership of land that will be administered by the Land Title Survey Authority. The Province will also be enacting legislation that will require corporations in British Columbia t ...

Pre-Sale Assignment Registry. The Province will require developers to collect and report comprehensive information about the assignment of pre-sale contracts. The government also indicated that collecting this information will allow government to develop new taxation models in the future.

Foreign Buyers’ Tax Increase.  Effective February 21, 2018, the foreign buyers’ tax (also known as the additional property transfer tax) has been increased from 15% to 20%.  This tax has also been extended outside of the Lower Mainland to include the Capital Regional District, the Fraser Valley, the Central Okanagan and the Nanaimo Regional District (though there will be a short grandfatherin ...