REAL ESTATE BLOG

Home sale and listing activity in Metro Vancouver moves off of its record-breaking pace   The Metro Vancouver housing market saw steady home sale and listing activity in May, a shift back from the record-breaking activity seen in the earlier spring months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,268 in May 2021, a 187.4 per cent increase from the 1,485 sales recorded in May 2020, and a 13 per cent decrease...

Home buyer competition intensifies across Metro Vancouver’s housing market   Competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver’s* housing market.    The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,727 in February 2021, a 73.3 per cent increase from the 2,150 sales recorded in February 2020, and a 56 per cent increase from the 2,389 homes sold in...

Time to complete your speculation and vacancy tax declaration Friday, January 22, 2021 Residential property owners in communities where the speculation and vacancy tax (SVT) applies will soon receive their declaration package and can complete it online at: https://gov.bc.ca/spectax All owners on the title, including spouses and relatives, must complete a declaration to claim an exemption or determine eligibility for a tax...

RENT OR BUY A HOME? THE BEST OPTION FOR YOU     TO BUY OR CONTINUE RENTING? THAT’S THE QUESTION Everyone has a different timeline for when or if they should buy a home. For some people, renting just makes sense. For others, buying a home is something they dream of and work toward.  If you’re on the fence about buying a home, here are a few factors to consider that might help you decide one way or another. Should you buy or...

Following a historically slow spring season — a time that is known for being bustling for real estate — Canadian homebuyers returned to markets across the country to take advantage of low-interest rates during the post-lockdown period, even within the luxury home sector. Subsequently, a number of major Canadian real estate markets saw unprecedented demand for homes priced over $1 million in 2020, a trend that’s expected to continue through 2021, especially as...

Property owners receive their 2021 assessment notices the first week of January, a valuation which reflects the market value as of July 1, 2020. Overall, assessments increased throughout Greater Vancouver for both detached and strata homes.  For detached homes, Squamish and Vancouver led the way, each with a 10 per cent increase, followed by Bowen Island with nine per cent, and Pemberton and Port Coquitlam, each with an eight per cent increase. For strata homes North...

This year's grant threshold for B.C. homeowners is set at $1.625 million. The provincial government is taking over administration of the homeowner grants from municipalities, and announced Tuesday that this year’s grant threshold is set at $1.625 million. The province already administers the grant for rural homeowners. Homeowners in all municipalities will now submit their applications directly to the B.C. government instead of through their municipal...

January 5, 2021 Metro Vancouver housing market shows resilience in 2020   Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average.   The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded in 2019, and a 25.7 per cent increase from the 24,619 homes sold in...

Buying & Selling Tips Renting vs. Buying a Home Is it better to own or lease property? Learn how to consider your options.   If you are at a point in your life where you are considering homeownership, you probably have some questions. Whether you are currently living at your parents’ home and looking to take the first steps out on your own, or are currently renting or rooming with someone and want to break-free, there are lots of things to consider! From renting an...

Metro Vancouver home sales and listings surge in September   Home sale and new listing activity reached record levels in Metro Vancouver in September.   The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded in September 2019, and a 19.6 per cent increase from the 3,047 homes sold in August 2020.   Last month’s sales...