vancouver Archives - macdonald realty
Greater Vancouver Real Estate Market Statistics – July 2018

Greater Vancouver Real Estate Market Statistics – July 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in July 2018.

Vancouver-West

In the Vancouver Westside, there were 57 sales of detached homes and 858 active listings at the end of the month. The benchmark sale price was $3,356,500, with average days on market of 54. The hottest markets for sales were Dunbar, Kitsilano and Southlands with 7 sales each.

In comparison, the condo market had 295 sales, 1,203 active listings and a benchmark sale price of $835,200 with an average of 26 days on market. The hottest market for sales was Downtown VW, 55. sales.

Townhome sales were 39, active listings were 198. The benchmark sale price was $1,288,600 with an average days on market of 29. Kitsilano with 8 sales was the hottest market of the month.

It’s a buyer’s market for houses in Vancouver-West.

MarketHotSheet_July2018_VancouverWest

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How to Buy in Vancouver

How to Buy in Vancouver

First, you’ll want to understand the taxes you’re going to pay

It is impossible to think about buying in Vancouver as a foreigner without considering the now- infamous tax on foreign buyers and speculators introduced in 2016 to make housing in the region more affordable and cool down an extremely hot market.

In Vancouver, foreigners pay a 20% tax on top of the purchase price. The tax was introduced because of the perception that Vancouver, the most expensive market in Canada, was becoming a parking ground for global capital.

Now approaching the end of the second year, many say the tax has not had its intended effect. Jerry Wang, of MacDonald Realty, a luxury brokerage in Vancouver, said that although the tax slowed the market at the beginning, foreign buyers are back in the game.

The largest island offers proximity to a 180-mile long For the luxury “Buyers can get a mortgage fairly easily, and relatively speaking, the price point for the Vancouver area is still very reasonable,” Mr. Wang said, compared to other large cities around the world.

He said his clients have just shifted to a slightly lower price bracket to account for the tax, and are still “buying at a discount.” They also still buy at the high end. “This year we have seen so many properties over C$10 million (US$7.7 million) sold in Vancouver,” he said. “Most of them are to Chinese families still wanting to be here.”

Because of the tax, he added, it is “properties in the middle that are suffering,” referring to those in the “affordable luxury” range.

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Greater Vancouver Real Estate Market Statistics – June 2018

Greater Vancouver Real Estate Market Statistics – June 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in June 2018.

Vancouver-West

In the Vancouver Westside, there were 81 sales of detached homes and 877 active listings at the end of the month. The benchmark sale price was $3,392,500, with average days on market of 43. The hottest markets for sales were Kitsilano and Cambie with 12 sales each.

In comparison, the condo market had 328 sales, 1,214 active listings and a benchmark sale price of $842,600 with an average of 20 days on market. The hottest market for sales was Downtown VW, 63. sales.

Townhome sales were 47, active listings were 228. The benchmark sale price was $1,303,600 with an average days on market of 21. Fairview VW with 14 sales was the hottest market of the month.

It’s a seller’s market for condos in Vancouver-West.

MarketHotSheet_June2018_VancouverWest

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Greater Vancouver Real Estate Market Statistics – May 2018

Greater Vancouver Real Estate Market Statistics – May 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in May 2018.

Vancouver-West

In the Vancouver Westside, there were 91 sales of detached homes and 898 active listings at the end of the month. The benchmark sale price was $3,430,500, with average days on market of 39. The hottest markets for sales were Point Grey and Cambie with 10 sales each and and Dunbar with 12 sales.

In comparison, the condo market had 359 sales, 1,149 active listings and a benchmark sale price of $845,400 with an average of 16 days on market. The hottest market for sales was Downtown VW, 71 sales.

Townhome sales were 42, active listings were 215. The benchmark sale price was $1,304,500 with an average days on market of 26. Fairview VW with 10 sales was the hottest market of the month.

It’s a seller’s market for condos in Vancouver-West.

MarketHotSheet_May2018_VancouverWest

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Greater Vancouver Real Estate Market Statistics – February 2018

Greater Vancouver Real Estate Market Statistics – February 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in February 2018.

Vancouver – Westside

In the Vancouver Westside, there were 53 sales of detached homes and 772 active listings at the end of the month. The benchmark sale price was $3,500,600, with an average days on market of 52. The hottest market for sales was Dunbar with 8 sales.

In comparison, the condo market had 331 sales, 665 active listings and a benchmark sale price of $835,800 with an average of 21 days on market. The hottest market for sales was Downtown VW, 84 sales.

Townhome sales were 34, active listings were 129. The benchmark sale price was $1,250,100 with an average days on market of 21. Fairview and Kitsilano with 7 sales each were the hottest markets of the month.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_February2018_Vancouver-West

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