by Macrealty Marketing Team | Sep 3, 2020 | Buying Real Estate, Industry, Market Insights, Selling Real Estate
Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in August 2020.
Find the infographics by visiting the Facebook Album.
Central Okanagan: Kelowna and Lake Country
There were 317 sales, 961 active listings, and an $816,767 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.
The condo market featured 146 sales and 667 active listings at the end of the month. The average sale price was $370,620.
Townhome sales were 110, active listings were 364 and the average sale price was $582,185.
It’s a seller’s market for homes and townhomes in Central Okanagan.
North Okanagan: Vernon and surrounding area
In North Okanagan, including Vernon and the surrounding area and the average sale price was $643,995. At the end of the month, there were 139 sales and 451 active listings.
There were 18 sales and 90 active listings for condos. The average sale price was $256,889.
In comparison, townhomes featured 47 sales, 114 active listings and a $371,089 average sale price.
It’s a seller’s market for homes and townhomes in North Okanagan.
Looking for more information about the real estate market in specific neighbourhoods in Okanagan?
Macdonald Realty has offices in Kelowna and across BC. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
This blog post is based on market data provided by Okanagan Mainline Real Estate Board (OMREB) www.omreb.com.
by Macrealty Marketing Team | Sep 3, 2020 | Buying Real Estate, Fraser Valley, House and Home, Industry, Market Insights
According to the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) saw the second-highest number of property sales and the highest number of new listings in August within the last two decades, when 2,298 sales were recorded in August 2005.
The FVREB processed a total of 2,039 sales in August, a decrease of 2.9% compared to sales in July, but an increase of 57.2% compared to the 1,297 sales during August of last year. Last month’s sales were 39% above the ten-year average for August, representing the highest August in the last decade and second only to what was recorded back in August 2005.
Chris Shields, President of the Board, indicated that, “we are seeing better sales volumes increase month over month because buyers are recognizing that the Fraser Valley offers increased choice and diversified housing opportunities, while offering more value as well.”
“In an unusual situation given the pandemic, we remain cautiously optimistic and are encouraged by the numbers we are
seeing,” added Shields.
Find all the infographics related to the May Market Statistics by visiting the Facebook Album.
Abbotsford
Cloverdale
Langley
Mission
North Delta
North Surrey
Surrey Central
White Rock / South Surrey
Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley?
Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca
by Macrealty Marketing Team | Sep 3, 2020 | Buying Real Estate, House and Home, Industry, Market Insights, Selling Real Estate
Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in August 2020.
Find all the infographics related to the February Market Statistics by visiting the Facebook Album.
Greater Victoria
According to the Victoria Real Estate Board “Once again we saw a very active month in terms of property transactions”. On September 1, 2020, the board released a total of 979 properties sold in the Victoria Real Estate Board region this August, 48.1% more than the 661 properties sold in August 2019 and exactly the same total as the previous month of July 2020. Sales of condominiums were up 29.1% from August 2019 with 262 units sold. Sales of single-family homes were up 45% from August 2019 with 509 sold.
“Once again we saw a very active month in terms of property transactions,” says Victoria Real Estate Board President Sandi-Jo Ayers. “And once again I will note that this is not a trend, but that this is our market at this moment in time during a unique situation. It is a challenging time to define what is happening in the market given so many factors that don’t exist in a normal year. We have been surprised by the pace of the summer market and are grappling with the evolving socio-economic effects of the pandemic and how these underlying factors will influence our fall real estate market.”
Nanaimo
Parksville / Qualicum
Looking for more information about the real estate market in specific neighbourhoods in Victoria, Parksville, Nanaimo, Vancouver Island and the Gulf Islands?
Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and on Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.
by Macrealty Marketing Team | Aug 7, 2020 | Buying Real Estate, Industry, Market Insights
Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler, and Sunshine Coast listings and sales in July 2020.
Find all the infographics related to the May Market Statistics by visiting the Facebook Album.
Whistler
In July 2020, there were 16 sales of detached homes and 110 active listings in Whistler. The benchmark sale price was $1,706,600.
The condo market had 22 sales and 144 active listings at the end of the month. The benchmark sale price was $468,200.
The townhome market had 21 sales and, the active listings were 91. The benchmark sale price was $888,400.
It’s a Buyer’s market for homes and condos in Whistler.
Sunshine Coast
Squamish
Looking for more information about the real estate market in specific neighbourhoods in Squamish, Whistler, and Sunshine Coast? Macdonald Realty has offices in Squamish, Whistler, and Sunshine Coast. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org
by Macrealty Marketing Team | Aug 7, 2020 | Buying Real Estate, Industry, Market Insights
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in July 2020.
Find all the infographics by visiting the Facebook Album.
According to the Real Estate Board of Greater Vancouver, home buyer and seller activity in Metro Vancouver exceeded historical levels in July.
“We’re seeing the results today of pent up activity, from both home buyers and sellers, that had been accumulating in our market throughout the year,” Colette Gerber, REBGV Chair said. “Low interest rates and limited overall supply are also increasing competition across our market.”
Colette also has talked about the COVID situation which according to him remains the top priority for our REALTOR® community.
“We continue to limit in-person interactions with clients and employ different technology solutions to ensure home buyers and sellers can get as much information as possible in a virtual setting.”
The Real Estate Board of Greater Vancouver (REBGV) reports that “residential home sales in the region totalled 3,128 in July 2020, a 22.3% increase from the 2,557 sales recorded in July 2019, and a 28%t increase from the 2,443 homes sold in June 2020. Last month’s sales were 9.4% above the 10-year July sales average”.
Bowen Island
Burnaby East
Burnaby North
Burnaby South
Coquitlam
Ladner
Maple Ridge
New Westminster
North Vancouver
Pitt Meadows
Port Coquitlam
Port Moody
Richmond
Tsawwassen
Vancouver East
Vancouver West
West Vancouver
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org
by Macrealty Marketing Team | Aug 6, 2020 | Buying Real Estate, Industry, Market Insights, Selling Real Estate
Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in July 2020.
Find the infographics by visiting the Facebook Album.
Central Okanagan: Kelowna and Lake Country
There were 336 sales, 1,055 active listings, and an $812,875 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.
The condo market featured 150 sales and 707 active listings at the end of the month. The average sale price was $360,253.
Townhome sales were 123, active listings were 383 and the average sale price was $550,230.
It’s a seller’s market for homes and townhomes in Central Okanagan.
North Okanagan: Vernon and surrounding area
In North Okanagan, including Vernon and the surrounding area and the average sale price was $594,644. At the end of the month, there were 148 sales and 452 active listings.
There were 18 sales and 82 active listings for condos. The average sale price was $274,450.
In comparison, townhomes featured 47 sales, 129 active listings and a $380,798 average sale price.
It’s a seller’s market for homes and townhomes in North Okanagan.
Looking for more information about the real estate market in specific neighbourhoods in Okanagan?
Macdonald Realty has offices in Kelowna and across BC. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
This blog post is based on market data provided by Okanagan Mainline Real Estate Board (OMREB) www.omreb.com.
