MonthlyStatistics OCTOBER 2017

Size: px
Start display at page:

Download "MonthlyStatistics OCTOBER 2017"

Transcription

1 MonthlyStatistics OCTOBER 2017

2 FOR IMMEDIATE RELEASE November 1, 2017 Buyer Demand and Low Inventory Driving Brisk Housing Market NANAIMO, BC The Vancouver Island Real Estate Board (VIREB) reports that single-family home sales in October 2017 rose by 16 per cent from one year ago but dipped 10 per cent from September. Last month, 460 properties sold on the Multiple Listing Service (MLS ) System compared to 398 one year ago and 511 in September. When looking at these sales figures, however, it is important to note that 2016 was a banner year for real estate. Some market correction was expected in 2017, but sales activity in the VIREB area is still robust. Further, VIREB attributes most of the decline in sales numbers to ongoing inventory challenges. In fact, although the supply of single-family homes for sale has been steadily rising each month since VIREB hit a historic low of 859 in December 2016, inventory in October was just 1,138, down two per cent from last year and eight per cent from September. The British Columbia Real Estate Association (BCREA) reports that the housing market in British Columbia (B.C.), particularly in the southern half of the province, continues to thrive due to strong economic fundamentals. B.C. s GDP is currently tracking at four per cent and is expected to average 3.7 per cent for the year. Government policy decisions, including slightly higher interest rates and the new mortgage stress test, could affect the housing market in 2018, but it is too early to say in what way. These attempts to temper rising home prices aimed mainly at overheated markets in Vancouver and Toronto will likely be counterbalanced by demographic factors, such as baby boomers entering their retirement years, millennials purchasing their first homes, and interprovincial migration. Janice Stromar, 2017 VIREB President, states that sales are still brisk throughout the VIREB area. Looking purely at statistics, it appears that the market is cooling, but the opposite is true, says Stromar. Lack of inventory is certainly tempering sales, but what is available sells faster and for more money. Stromar adds that multiple offers are still occurring regularly, even on condominiums, townhouses, and mobile homes, which is unusual for the VIREB area. However, sellers still need to price their homes realistically. Although many properties are selling above list price, sellers must set a reasonable price because consumers are savvy and may not look at an overpriced home, says Stromar. Connecting with a local REALTOR is especially crucial in a competitive housing market, adds Stromar. Our current market conditions can be confusing and chaotic for buyers and sellers, but REALTORS have specialized knowledge of their communities that can help streamline the process to ensure the best possible outcome while mitigating associated risks, says Stromar. In October 2017, the benchmark price of a single-family home in the VIREB area rose to $463,800, up 17 per cent from one year ago. (Benchmark pricing tracks the value of a typical home in the reported area.) The benchmark price of an apartment last month rose to $272,300, up 28 per cent board-wide from the previous year, while the benchmark price of a townhouse hit $360,100, a 22 per cent increase from The October 2017 benchmark price of a single-family home in the Campbell River area was $366,800, an increase of 19 per cent over October In the Comox Valley, the benchmark price hit $466,200, up 20 per cent from last year. Duncan reported a benchmark price of $409,500, an increase of 14 per cent compared to October Nanaimo s benchmark price broke the $500,000 mark, rising 14 per cent to hit $501,400. The Parksville-Qualicum area saw its benchmark price increase by 17 per cent to $524,900, while the price of a benchmark home in Port Alberni was $253,600, up 18 per cent from one year ago

3 ABOUT VIREB VIREB represents over 1,000 REALTOR members in nearly 90 member offices on Vancouver Island (north of Victoria). VIREB cautions that average price information can be useful in establishing trends over time, but does not indicate the actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR ) and/or the quality of services they provide (MLS ). Visit our website for updated information at Contact: Janice Stromar, President: Don McClintock, President-Elect: Margo Hoffman, Past President: Darrell Paysen, Manager, Member Services: Or, for further localized comments, please contact: Campbell River: Erika Haley Comox Valley: Kevin Reid Cowichan Valley: Lovina Miller Nanaimo: Janice Stromar Kaye Broens Parksville-Qualicum: Margo Hoffman Port Alberni-West Coast: Sandy Rantz MLS HPI Media Contact Communications Department Vancouver Island Real Estate Board

4 Backgrounder About the MLS Home Price Index On November 1 st, VIREB adopted the MLS Home Price Index (MLS HPI) as a new method of reporting price trends in the market. The MLS HPI determines the value for a typical benchmark home, which is a notional dwelling that shares a specific set of qualitative and quantitative attributes. Benchmark prices tend to be slightly lower than corresponding medians and averages The MLS HPI, based on the information entered into the MLS System at the time of sale, is the best and purest way of determining price trends in the housing market. It was pioneered by six founding partners: the real estate boards of Calgary, Fraser Valley, Montreal, Toronto, and Vancouver, and the Canadian Real Estate Association. In 2009, the partners contracted with Altus Group to develop the MLS HPI, which subsequently launched in January Others have since joined the program, with 10 partners and growing. Why an MLS Home Price Index? The MLS HPI captures and analyzes Canadian home prices based on both quantitative and qualitative housing features. Quantitative features captured by the index are, for example, number of rooms and bathrooms, living area above ground and the age of the home. Qualitative features include finished basement, if the home is new or resale, and the home s proximity to shopping, schools, transportation, hospitals and so on. The MLS HPI gauges Vancouver Island prices relative to January 2005, and tracks price trends for benchmark housing types: Single-family homes o One-storey o Two-storey Townhouses Condominium apartments The complete methodology is available at Why Does It Matter? 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. Compared to all other Canadian home price measures, the MLS HPI identifies turning points sooner, is the most current, and is the most detailed and accurate gauge for Canadian home prices. How to Read the Tables Benchmark Price: Estimated sale price of a benchmark property. Benchmarks represent a typical property in each market. Price Index: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales. In January 2005, all indices are set to 100 Month/Year change %: Percentage change of index over a period of (x) month(s) year.

5 Single-Family Home Benchmark Price

6

7 Apartment Benchmark Price

8

9 Townhouse Benchmark Price

10

11 HPI Data

12

13 MLS Sales Summary Copies of archived Statistics are available at our website. Go to and under Resources in the top menu, choose Market Statistics. You are encouraged to contact any of the Directors of the Vancouver Island Real Estate Board to obtain local comments.

14 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Average, Median, and Benchmark Price (HPI) Comparisons $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 VIREB Board Area MLS Sales Single Family - Average, Median and Home Price Index Average Sale Price Median HPI Copyright 2017 VIREB $300,000 $250,000 $200,000 $150,000 $100,000 VIREB Board Area MLS Sales Condo (Apt) Average, Median and Home Price Index Average Sale Price Median HPI Copyright 2017 VIREB $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 VIREB Board Area MLS Sales Condo (Twnhse) - Average, Median and Home Price Index Average Sale Price Median HPI Copyright 2017 VIREB

15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Single-Family Active Listings / Listings and Sales VIREB Board Area - Single Family Active MLS Listings Active Copyright 2017 VIREB VIREB Board Area - Total Single Family New MLS Listings and Sales Listed Sold Copyright 2017 VIREB

MonthlyStatistics NOVEMBER 2017

MonthlyStatistics NOVEMBER 2017 MonthlyStatistics NOVEMBER 2017 FOR IMMEDIATE RELEASE December 1, 2017 Lack of Inventory Continues to Drive Housing Market NANAIMO, BC The Vancouver Island Real Estate Board (VIREB) reports that single-family

More information

MonthlyStatistics AUGUST 2017

MonthlyStatistics AUGUST 2017 MonthlyStatistics AUGUST 2017 FOR IMMEDIATE RELEASE September 1, 2017 VIREB Housing Market Continues to Sizzle NANAIMO, BC The Vancouver Island Real Estate Board (VIREB) reports that single-family home

More information

MonthlyStatistics MARCH 2017

MonthlyStatistics MARCH 2017 MonthlyStatistics MARCH 2017 FOR IMMEDIATE RELEASE April 3, 2017 Low Inventory Continues to Limit Vancouver Island Buyers NANAIMO, BC The Vancouver Island Real Estate Board (VIREB) reports that in March

More information

MonthlyStatistics DECEMBER 2017

MonthlyStatistics DECEMBER 2017 MonthlyStatistics DECEMBER 2017 FOR IMMEDIATE RELEASE January 2, 2018 VIREB Posts the Strongest December on Record NANAIMO, BC The Vancouver Island Real Estate Board (VIREB) reports that on a seasonally

More information

MonthlyStatistics JANUARY 2018

MonthlyStatistics JANUARY 2018 MonthlyStatistics JANUARY 2018 FOR IMMEDIATE RELEASE February 1, 2018 Sales Return to Seasonal Norms in January NANAIMO, BC Coming off the busiest December on record, sales in the VIREB area returned to

More information

MonthlyStatistics AUGUST 2018

MonthlyStatistics AUGUST 2018 MonthlyStatistics AUGUST 2018 FOR IMMEDIATE RELEASE September 4, 2018 Sales Bounce Back Slightly From July But Still Lower Than in 2017 NANAIMO, BC Sales of single-family homes in August were seven per

More information

MonthlyStatistics MAY 2018

MonthlyStatistics MAY 2018 MonthlyStatistics MAY 2018 FOR IMMEDIATE RELEASE June 1, 2018 Single-Family Benchmark Price Surpasses $500,000 in May NANAIMO, BC The benchmark price of a single-family home in the VIREB area broke the

More information

MonthlyStatistics MARCH 2018

MonthlyStatistics MARCH 2018 MonthlyStatistics MARCH 2018 FOR IMMEDIATE RELEASE April 3, 2018 Sales Down From 2017 But Prices Still Rising Due to Limited Inventory NANAIMO, BC Sales of single-family homes, apartments, and townhouses

More information

MonthlyStatistics APRIL 2018

MonthlyStatistics APRIL 2018 MonthlyStatistics APRIL 2018 FOR IMMEDIATE RELEASE May 1, 2018 Sales Holding Steady Amid Rising House Prices NANAIMO, BC Sales of single-family homes in the VIREB area rose by 20 per cent month over month

More information

MonthlyStatistics JULY 2018

MonthlyStatistics JULY 2018 MonthlyStatistics JULY 2018 FOR IMMEDIATE RELEASE August 1, 2018 Prices Continue to Sizzle in Summer Housing Market NANAIMO, BC Prices of single-family homes, apartments, and townhouses continue to rise

More information

MonthlyStatistics OCTOBER 2018

MonthlyStatistics OCTOBER 2018 MonthlyStatistics OCTOBER 2018 FOR IMMEDIATE RELEASE November 1, 2018 Prices Continue Rising Despite Moderating Sales NANAIMO, BC Sales of single-family homes in October were 11 per cent higher than in

More information

MonthlyStatistics DECEMBER 2018

MonthlyStatistics DECEMBER 2018 MonthlyStatistics DECEMBER 2018 FOR IMMEDIATE RELEASE January 2, 2019 Housing Market in 2018 Performed as Expected NANAIMO, BC Sales of single-family homes in December dropped by 48 per cent from one year

More information

Monthly Statistics Package July 2016

Monthly Statistics Package July 2016 Vancouver Island Real Estate Board Monthly Statistics Package July 2016 FOR IMMEDIATE RELEASE August 2, 2016 Home Sales a Bit Cooler in July But Significantly Higher Than Last Year NANAIMO, BC Home sales

More information

Monthly Statistics Package November 2015

Monthly Statistics Package November 2015 Vancouver Island Real Estate Board Monthly Statistics Package November 2015 FOR IMMEDIATE RELEASE December 1, 2015 November Sales Activity Up Significantly From One Year Ago NANAIMO, BC November sales

More information

MonthlyStatistics FEBRUARY 2018

MonthlyStatistics FEBRUARY 2018 MonthlyStatistics FEBRUARY 2018 FOR IMMEDIATE RELEASE March 1, 2018 Buoyant Sellers Market Continues NANAIMO, BC Last month, 316 single-family homes sold on the Multiple Listing Service (MLS ) System compared

More information

Monthly Statistics Package June 2015

Monthly Statistics Package June 2015 Vancouver Island Real Estate Board Monthly Statistics Package June 2015 FOR IMMEDIATE RELEASE July 2, 2015 Robust Housing Market Shows No Signs of Slowing Down NANAIMO, BC A robust provincial economy and

More information

MONTHLY STATISTICS PACKAGE

MONTHLY STATISTICS PACKAGE MONTHLY STATISTICS PACKAGE FEBRUARY 2019 FOR IMMEDIATE RELEASE March 1, 2019 Guideline B-20 Continues to Dampen Housing Sales NANAIMO, BC Sales of single-family homes in February board-wide dipped by 28

More information

October 1, Victoria Real Estate Market Continues to Stabilize

October 1, Victoria Real Estate Market Continues to Stabilize PRESIDENT Kyle Kerr PRESIDENT ELECT Cheryl Woolley SECRETARY TREASURER David Langlois PAST PRESIDENT Ara Balabanian DIRECTORS Jackie Adkins Sandi-Jo Ayers Bill Ethier Karen Dinnie-Smyth Andrew Plank EXECUTIVE

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: Home buyer demand stays below historical averages in VANCOUVER, BC September 5, The Metro Vancouver 1 housing market continues to experience reduced demand across all

More information

Home sales down, listings up across Metro Vancouver

Home sales down, listings up across Metro Vancouver News Release FOR IMMEDIATE RELEASE: Home sales down, listings up across Metro Vancouver VANCOUVER, BC May 2, The Metro Vancouver* housing market saw fewer home buyers and more home sellers in. The Real

More information

Condominiums and townhomes in high demand across Metro Vancouver

Condominiums and townhomes in high demand across Metro Vancouver News Release FOR IMMEDIATE RELEASE: Condominiums and townhomes in high demand across Metro Vancouver VANCOUVER, BC May 2, Demand for condominiums and townhomes continues to drive the Metro Vancouver* housing

More information

Home sales remain at record levels across Metro Vancouver

Home sales remain at record levels across Metro Vancouver News Release FOR IMMEDIATE RELEASE: Home sales remain at record levels across Metro Vancouver VANCOUVER, BC May 3, Last month was the highest selling on record for Metro Vancouver.* Residential property

More information

Housing market conditions continue to favour home buyers

Housing market conditions continue to favour home buyers News Release FOR IMMEDIATE RELEASE: Housing market conditions continue to favour home buyers VANCOUVER, BC March 4, The Metro Vancouver* housing market saw increased supply from home sellers and below

More information

VANCOUVER, BC December 2, 2016 Home buyer and seller activity remains near historical averages in the Metro Vancouver* housing market.

VANCOUVER, BC December 2, 2016 Home buyer and seller activity remains near historical averages in the Metro Vancouver* housing market. News Release FOR IMMEDIATE RELEASE: Home sales and listings just below 10-year average VANCOUVER, BC December 2, Home buyer and seller activity remains near historical averages in the Metro Vancouver*

More information

Home listings at four-year October high as sales remain below typical levels

Home listings at four-year October high as sales remain below typical levels News Release FOR IMMEDIATE RELEASE: Home listings at four-year high as sales remain below typical levels VANCOUVER, BC November 2, Home sale activity across Metro Vancouver* remained below long-term historical

More information

Metro Vancouver home sales decline below historical averages in 2018

Metro Vancouver home sales decline below historical averages in 2018 News Release FOR IMMEDIATE RELEASE: Metro Vancouver home sales decline below historical averages in VANCOUVER, BC January 3, 2019 Metro Vancouver* home sales in were the lowest annual total in the region

More information

Greater Vancouver residential property sale and listing activity below 10-year averages in November

Greater Vancouver residential property sale and listing activity below 10-year averages in November News Release Greater Vancouver residential property sale and listing activity below 10-year averages in Vancouver, B.C. December 4, Over the past six months, the Greater Vancouver housing market has seen

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: Home buyers remain active despite reduced selection VANCOUVER, B.C. February 3, 2015 The first month 2015 saw home sale activity above historical norms, while the number

More information

Home sale and listing activity dip below historical averages in October

Home sale and listing activity dip below historical averages in October News Release FOR IMMEDIATE RELEASE: Home sale and listing activity dip below historical averages in VANCOUVER, BC November 2, Reduced home sale and listing activity are changing market dynamics in communities

More information

News Release FOR IMMEDIATE RELEASE

News Release FOR IMMEDIATE RELEASE News Release FOR IMMEDIATE RELEASE Greater Vancouver housing market hits summer lull VANCOUVER, B.C. August 2, Residential property sales in Greater Vancouver remained at a 10-year low in, while the number

More information

October sales were 28.5 per cent below the 10-year October sales average of 2,700.

October sales were 28.5 per cent below the 10-year October sales average of 2,700. News Release Housing market sees slight changes in Vancouver, B.C. November 2, The Greater Vancouver housing market saw a slight increase in the number home sales, a slight reduction in the number listings,

More information

Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending April 30, 2014)

Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending April 30, 2014) Phone: 519-641-1400 Fax: 519-641-1419 342 Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT (for month ending April 30, 2014) Table of Contents News Release for April 2014 3 Market Report

More information

News Release. Canadian home sales slip further in January Ottawa, ON, February 17, The Canadian Real Estate Association

News Release. Canadian home sales slip further in January Ottawa, ON, February 17, The Canadian Real Estate Association Canadian home sales slip further in January Ottawa, ON, February 17, 2015 According to statistics 1 released today by The Canadian Real Estate Association (CREA), national home sales activity was down

More information

August 1, Victoria Housing Market Still Finding Its Balance

August 1, Victoria Housing Market Still Finding Its Balance August, 28 PRESIDENT Kyle Kerr PRESIDENT ELECT Cheryl Woolley SECRETARY TREASURER David Langlois PAST PRESIDENT Ara Balabanian DIRECTORS Jackie Adkins Sandi-Jo Ayers Bill Ethier Karen Dinnie-Smyth Andrew

More information

Competition continues to drive Metro Vancouver s housing market

Competition continues to drive Metro Vancouver s housing market News Release FOR IMMEDIATE RELEASE: Competition continues to drive Metro Vancouver s housing market VANCOUVER, B.C. September 2, Metro Vancouver* home buyers spent the summer months searching for their

More information

Fewer home sales and listings in the first quarter of 2018

Fewer home sales and listings in the first quarter of 2018 News Release FOR IMMEDIATE RELEASE: Fewer home sales and listings in the first quarter VANCOUVER, BC April 4, Home buyers and sellers were less active in Metro Vancouver* throughout the first quarter.

More information

Home buyer demand depends on property type

Home buyer demand depends on property type News Release FOR IMMEDIATE RELEASE: Home buyer demand depends on property type VANCOUVER, BC February 2, Attached and apartment homes are in demand across Metro Vancouver* while detached home buyers are

More information

Metro Vancouver home sales surpass 4,000 for third consecutive month

Metro Vancouver home sales surpass 4,000 for third consecutive month News Release FOR IMMEDIATE RELEASE: Metro Vancouver home sales surpass 4,000 for third consecutive month VANCOUVER, B.C. June 2, It continues to be a competitive spring market for Metro Vancouver home

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: Home buyers remain active across Metro Vancouver VANCOUVER, BC July 5, Home buyers continue to compete for homes listed for sale across the Metro Vancouver housing market.

More information

MONTHLY STATISTICS PACKAGE. City of Calgary. May creb.com

MONTHLY STATISTICS PACKAGE. City of Calgary. May creb.com MONTHLY STATISTICS PACKAGE City of Calgary May 1 creb.com Housing supply swells in cool spring market MONTHLY STATISTICS PACKAGE City of Calgary May 1 City of Calgary, June 1, 1 Calgary s housing inventory

More information

Victoria Real Estate Market responds as expected to the changing market conditions of 2018

Victoria Real Estate Market responds as expected to the changing market conditions of 2018 PRESIDENT Cheryl Woolley PRESIDENT ELECT & TREASURER Sandi-Jo Ayers PAST PRESIDENT Kyle Kerr DIRECTORS Jackie Adkins Sheila Aujla Karen Dinnie-Smyth David Langlois Andrew Plank Graden Sol EXECUTIVE OFFICER

More information

September 4, Victoria s Real Estate Market Simmers at the End of Summer

September 4, Victoria s Real Estate Market Simmers at the End of Summer PRESIDENT Kyle Kerr PRESIDENT ELECT Cheryl Woolley SECRETARY TREASURER David Langlois PAST PRESIDENT Ara Balabanian DIRECTORS Jackie Adkins Sandi-Jo Ayers Bill Ethier Karen Dinnie-Smyth Andrew Plank EXECUTIVE

More information

Victoria Real Estate Market Continues to Sizzle in Summer Months. August , Victoria, BC

Victoria Real Estate Market Continues to Sizzle in Summer Months. August , Victoria, BC Victoria Real Estate Market Continues to Sizzle in Summer Months August 16, Victoria, BC A total of 97 properties sold in the Victoria Real Estate Board region this July, an increase of per cent compared

More information

Demand for homes continues to outpace supply in Metro Vancouver

Demand for homes continues to outpace supply in Metro Vancouver News Release FOR IMMEDIATE RELEASE: Demand for homes continues to outpace supply in Metro Vancouver VANCOUVER, BC April 4, A shortage residential property listings coupled with strong demand, particularly

More information

Last month s sales were 28.7 per cent below the 10-year June sales average.

Last month s sales were 28.7 per cent below the 10-year June sales average. News Release FOR IMMEDIATE RELEASE: Home seller supply grows as demand declines VANCOUVER, BC July 4, With home sale activity dipping below long-term historical averages, the supply homes for sale in Metro

More information

The Canadian Real Estate Association News Release

The Canadian Real Estate Association News Release According to statistics 1 released today by The Canadian Real Estate Association (CREA), national home sales posted their third monthly increase and broke all previous monthly records. Highlights: The

More information

November 1, The Victoria real estate market s return to balance not linear, but also not unexpected

November 1, The Victoria real estate market s return to balance not linear, but also not unexpected PRESIDENT Kyle Kerr PRESIDENT ELECT Cheryl Woolley SECRETARY TREASURER David Langlois PAST PRESIDENT Ara Balabanian DIRECTORS Jackie Adkins Sandi-Jo Ayers Bill Ethier Karen Dinnie-Smyth Andrew Plank EXECUTIVE

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: Demand remains elevated across the Metro Vancouver housing market VANCOUVER, BC June 2, Metro Vancouver* homes continue to sell at an unprecedented rate in communities

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: Demand for condominiums continues to outstrip supply VANCOUVER, BC July 5, The imbalance between supply and demand in the condominium market is creating home buyer competition

More information

Last month s sales were 33.5 per cent above the 10-year sales average for the month.

Last month s sales were 33.5 per cent above the 10-year sales average for the month. News Release FOR IMMEDIATE RELEASE: Summer heat doesn t slow home buyer activity VANCOUVER, B.C. August 5, Metro Vancouver home sales were more than a third above the 10-year average in, while the number

More information

Spring delivers greater balance to Greater Vancouver housing market

Spring delivers greater balance to Greater Vancouver housing market News Release FOR IMMEDIATE RELEASE: Spring delivers greater balance to Greater Vancouver housing market VANCOUVER, B.C. May 2, A closer relationship between home buyer demand and the supply homes for sale

More information

Metro Vancouver continues to experience above-average demand and below-average supply

Metro Vancouver continues to experience above-average demand and below-average supply News Release FOR IMMEDIATE RELEASE: Metro Vancouver continues to experience above-average demand and below-average supply VANCOUVER, BC December 4, Metro Vancouver* saw modest home listing changes and

More information

Reduced demand is allowing housing supply to accumulate

Reduced demand is allowing housing supply to accumulate News Release FOR IMMEDIATE RELEASE: Reduced demand is allowing housing supply to accumulate VANCOUVER, BC June 4, Home buyer demand continues to decline across the Metro Vancouver* housing market. The

More information

CALGARY REGIONAL HOUSING MARKET STATISTICS 12.14

CALGARY REGIONAL HOUSING MARKET STATISTICS 12.14 CALGARY REGIONAL HOUSING MARKET STATISTICS 12.14 Yearly records set as monthly sales see slight decline Condominium and townhouse sales set a new record for 214 Calgary, January 2, 215 It was a record

More information

News Release. Canadian home sales up in May Ottawa, ON, June 16, The Canadian Real Estate Association

News Release. Canadian home sales up in May Ottawa, ON, June 16, The Canadian Real Estate Association Canadian home sales up in May Ottawa, ON, June 16, 2014 According to statistics 1 released today by The Canadian Real Estate Association (CREA), national home sales activity posted a sizeable month-over-month

More information

Metro Vancouver housing market off to a quieter start than last year

Metro Vancouver housing market off to a quieter start than last year News Release FOR IMMEDIATE RELEASE: Metro Vancouver housing market f to a quieter start than last year VANCOUVER, BC February 2, 2017 Home sales and listings trends are below long-term averages in the

More information

Home sale and listing activity reach historical norms in 2014

Home sale and listing activity reach historical norms in 2014 News Release FOR IMMEDIATE RELEASE: Home sale and listing activity reach historical norms in VANCOUVER, B.C. January 5, 2015 It was a typical year for the Metro Vancouver housing market in certain respects.

More information

July home sale activity increases in Greater Vancouver

July home sale activity increases in Greater Vancouver News Release home sale activity increases in Greater Vancouver VANCOUVER, B.C. August 2, Sunny weather did not slow the pace home sale activity in. Last month was the highest selling month the year in

More information

Steady sales and diminished listings characterize 2017 for the Metro Vancouver housing market

Steady sales and diminished listings characterize 2017 for the Metro Vancouver housing market News Release FOR IMMEDIATE RELEASE: Steady sales and diminished listings characterize for the Metro Vancouver housing market VANCOUVER, BC January 3, 2018 After reaching record levels in 2015 and 2016,

More information

Last month s sales were the second lowest February total in the region since 2001 and 30.9 per cent below the 10-year sales average for the month.

Last month s sales were the second lowest February total in the region since 2001 and 30.9 per cent below the 10-year sales average for the month. News Release FOR IMMEDIATE RELEASE: Home sales continue at below average pace VANCOUVER, B.C. March 4, Home sale activity has trended below historical averages for a full year in the Greater Vancouver

More information

Metro Vancouver home buyers compete for fewer home listings

Metro Vancouver home buyers compete for fewer home listings News Release FOR IMMEDIATE RELEASE: Metro Vancouver home buyers compete for fewer home listings VANCOUVER, B.C. October 2, Conditions continue to favour home sellers across *Metro Vancouver s housing market.

More information

Steady trends continue in the Greater Vancouver housing market

Steady trends continue in the Greater Vancouver housing market News Release FOR IMMEDIATE RELEASE: Steady trends continue in the Greater Vancouver housing market VANCOUVER, B.C. February 4, 2014 The first month 2014 saw home sale and listing totals outpace historical

More information

Housing Bulletin Monthly Report

Housing Bulletin Monthly Report October 21 1 Housing Bulletin Monthly Report Housing Starts show Slight improvement in September CANADA Housing Starts 2, 15, 1, 5, Sep 8 Oct 8 Nov 8 Dec 8 Preliminary Housing Starts in Alberta and Canada

More information

Low supply continues to limit Metro Vancouver home buyers

Low supply continues to limit Metro Vancouver home buyers News Release FOR IMMEDIATE RELEASE: Low supply continues to limit Metro Vancouver home buyers VANCOUVER, BC March 2, Reluctance amongst Metro Vancouver* home sellers is impacting sale and price activity

More information

MONTHS OF SUPPLY AND PRICE CHANGES. Home improvement November marks a rise in sales. MONTHLY STATISTICS PACKAGE City of Calgary. Nov.

MONTHS OF SUPPLY AND PRICE CHANGES. Home improvement November marks a rise in sales. MONTHLY STATISTICS PACKAGE City of Calgary. Nov. November 17 17 Home improvement November marks a rise in sales. City of Calgary, December 1, 17 The November housing market was spurred by a rise in sales, particularly in the lower price ranges. Sales

More information

AAug ugust 2017

AAug ugust 2017 August 17 17 Housing recovery a balancing act Growth in new listings outpaced sales preventing inventory declines City of Calgary, September 1, 17 Sales posted a modest gain in August, but a rise in new

More information

Aug. Aug 2018 ust 2018

Aug. Aug 2018 ust 2018 August 18 MONTHLY STATISTICS PACKAGE City of Calgary Unemployment rate slows housing market recovery 18 City of Calgary, September, 18 Easing sales, gains in new listings and elevated inventory levels

More information

The Canadian Real Estate Association News Release

The Canadian Real Estate Association News Release The Canadian Real Estate Association News Release Canadian home sales push higher in February Ottawa, ON, March 15, 2016 According to statistics 1 released today by The Canadian Real Estate Association

More information

Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending July 31, 2017)

Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending July 31, 2017) Phone: 519-641-1400 Fax: 519-641-1419 342 Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT (for month ending July 31, 2017) Table of Contents News Release for July 2017 3 Market Report

More information

New year kicks off with slow sales Jan. 2019

New year kicks off with slow sales Jan. 2019 January 19 19 MONTHLY STATISTICS PACKAGE New year kicks off with slow sales 19, February 1, 19 As economic challenges linger into 19, housing markets remain on a sluggish pace. January sales totalled 8

More information

A heated year for Metro Vancouver real estate draws to a close

A heated year for Metro Vancouver real estate draws to a close News Release FOR IMMEDIATE RELEASE: A heated year for Metro Vancouver real estate draws to a close VANCOUVER, BC January 4, 2017 The Metro Vancouver* housing market had its third highest selling year on

More information

Patience required in Calgary's housing market recovery Jul. 2018

Patience required in Calgary's housing market recovery Jul. 2018 July 18 MONTHLY STATISTICS PACKAGE City of Calgary Patience required in Calgary's housing market recovery 18 City of Calgary, August 1, 18 Recent struggles in the job market, accompanied by yet another

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: Metro Vancouver home sales set record pace in VANCOUVER, B.C. July 3, Last month was the highest selling, and the second highest overall monthly total, on record for

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: Market activity picks up in VANCOUVER, BC June 2, Home buyer activity returned to near record levels across the Metro Vancouver* housing market in. Residential property

More information

Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending October 31, 2015)

Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending October 31, 2015) Phone: 519-641-1400 Fax: 519-641-1419 342 Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT (for month ending October 31, 2015) Table of Contents News Release for October 2015 3 Market

More information

Housing market feels the chill as oversupply continues Feb. 2019

Housing market feels the chill as oversupply continues Feb. 2019 February 19 19 MONTHLY STATISTICS PACKAGE Housing market feels the chill as oversupply continues 19, March 1, 19 The effects of Calgary s economic climate continue to create weak sales activity and elevated

More information

NEW HOMES REGISTRY REPORT

NEW HOMES REGISTRY REPORT December 218 British Columbia s Monthly NEW HOMES REGISTRY REPORT Leading Housing Market Indicator for B.C. Registered new homes data are a leading indicator of housing and economic 1 activity in British

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: Metro Vancouver sees fewer home sales and more listings in VANCOUVER, BC August 2, Home buyer activity returned to more typical summer levels in Metro Vancouver* last

More information

Monthly Indicators + 7.3% + 6.6% + 8.3% Single-Family Market Overview Condo Market Overview New Listings Pending Sales.

Monthly Indicators + 7.3% + 6.6% + 8.3% Single-Family Market Overview Condo Market Overview New Listings Pending Sales. Monthly Indicators 2018 The three most prominent national market trends for residential real estate are the ongoing lack of abundant inventory, the steadily upward movement of home prices and year-over-year

More information

VANCOUVER, BC March 2, 2018 Metro Vancouver* home sales dipped below the longterm historical average in February.

VANCOUVER, BC March 2, 2018 Metro Vancouver* home sales dipped below the longterm historical average in February. News Release FOR IMMEDIATE RELEASE: Home buyers were less active in VANCOUVER, BC March 2, Metro Vancouver* home sales dipped below the longterm historical average in. The Real Estate Board Greater Vancouver

More information

Steady trends continue in the Greater Vancouver housing market

Steady trends continue in the Greater Vancouver housing market News Release Steady trends continue in the Greater Vancouver housing market VANCOUVER, B.C. December 3, Consistent home sale and listing activity has allowed balanced market conditions to prevail in the

More information

O O ct ct ober 2017

O O ct ct ober 2017 October Status Quo for Calgary's Housing Market Prices remain similar to last year, but ease in October., November 1, 17 October s housing market conditions closely echoed previous month s trends with

More information

Home sale activity improves but remains below historical averages

Home sale activity improves but remains below historical averages News Release FOR IMMEDIATE RELEASE: Home sale activity improves but remains below historical averages VANCOUVER, B.C. April 3, Lower levels both supply and demand in recent months are holding home prices

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: Spring months bring balance to Greater Vancouver housing market VANCOUVER, B.C. June 4, While the number home sales in Greater Vancouver continued to trend below the

More information

Metro Vancouver homes sales down across all property types

Metro Vancouver homes sales down across all property types News Release FOR IMMEDIATE RELEASE: Metro Vancouver homes sales down across all property types VANCOUVER, BC December 4, Home buyer demand remains below long-term historical averages in the Metro Vancouver*

More information

Victoria Real Estate Market Statistics for August Sept 1, 2017

Victoria Real Estate Market Statistics for August Sept 1, 2017 Victoria Real Estate Market Statistics for August 27 Sept, 27 A total of 736 properties sold in the Victoria Real Estate Board region this August, 6.6 per cent fewer than the 883 properties sold in August

More information

Dec December 2018

Dec December 2018 December MONTHLY STATISTICS PACKAGE Job market weakness and lending restrictions a common thread in s housing market, January, 19 As oversupply continues in Calgary s housing market, December prices eased

More information

October sales were 28.5 per cent below the 10-year October sales average of 2,700.

October sales were 28.5 per cent below the 10-year October sales average of 2,700. News Release Housing market sees slight changes in Vancouver, B.C. November 2, The Greater Vancouver housing market saw a slight increase in the number home sales, a slight reduction in the number listings,

More information

News Release FOR IMMEDIATE RELEASE

News Release FOR IMMEDIATE RELEASE News Release FOR IMMEDIATE RELEASE Greater Vancouver housing market trends near long-term averages as spring market approaches VANCOUVER, B.C. March 2, Closer alignment between home buyer and seller activity

More information

S Sep eptember 2016

S Sep eptember 2016 September Detached prices stabilize in soft market, October, The segment of Calgary s housing market with the greatest influence on the overall market is showing signs of pricing stability. The detached

More information

Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending January 31, 2015)

Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending January 31, 2015) Phone: 519-641-1400 Fax: 519-641-1419 342 Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT (for month ending January 31, 2015) Table of Contents News Release for January 2015 3 Market

More information

Home sale and listing activity continue to chart a steady path for the region s housing market

Home sale and listing activity continue to chart a steady path for the region s housing market News Release FOR IMMEDIATE RELEASE: Home sale and listing activity continue to chart a steady path for the region s housing market VANCOUVER, B.C. April 2, home sales in Greater Vancouver outpaced last

More information

News Release FOR IMMEDIATE RELEASE:

News Release FOR IMMEDIATE RELEASE: News Release FOR IMMEDIATE RELEASE: sales exceed historical average VANCOUVER, BC November 2, Metro Vancouver* home sales exceeded typical historical levels in with the majority concentrated in the townhouse

More information

News Release. Canadian home sales fall back in October Ottawa, ON, November 15, The Canadian Real Estate Association

News Release. Canadian home sales fall back in October Ottawa, ON, November 15, The Canadian Real Estate Association The Canadian Real Estate Association News Release Canadian home sales fall back in October Ottawa, ON, November 15, 2013 According to statistics 1 released today by The Canadian Real Estate Association

More information

The Canadian Real Estate Association News Release

The Canadian Real Estate Association News Release The Canadian Real Estate Association News Release Canadian home sales edge down from December to January Ottawa, ON, February 15, 2017 According to statistics 1 released today by The Canadian Real Estate

More information

News Release. Canadian home sales edge up in February Ottawa, ON, March 13, The Canadian Real Estate Association

News Release. Canadian home sales edge up in February Ottawa, ON, March 13, The Canadian Real Estate Association The Canadian Real Estate Association News Release Canadian home sales edge up in February Ottawa, ON, March 13, 2015 According to statistics 1 released today by The Canadian Real Estate Association (CREA),

More information

The Canadian Real Estate Association News Release

The Canadian Real Estate Association News Release The Canadian Real Estate Association News Release Canadian home sales activity strengthens in July Ottawa, ON, August 15, 2018 Statistics 1 released today by The Canadian Real Estate Association (CREA)

More information

The Canadian Real Estate Association News Release

The Canadian Real Estate Association News Release The Canadian Real Estate Association News Release Canadian home sales fall further in February Ottawa, ON, March 15, 2018 Statistics 1 released today by The Canadian Real Estate Association (CREA) show

More information

The Canadian Real Estate Association News Release

The Canadian Real Estate Association News Release The Canadian Real Estate Association News Release Canadian home sales drop again in June Ottawa, ON, July 17, 2017 According to statistics 1 released today by The Canadian Real Estate Association (CREA),

More information

A A p p r ril 2017

A A p p r ril 2017 April 17 17 Housing market retains momentum in April Citywide prices hold steady as labour market improves City of Calgary, May 1, 17 Calgary s housing market continued to show signs of stability in April.

More information