BY K Milley. Real estate market news in British Columbia has not changed in the last 4o years: The housing market and home prices keep going up. Metro Vancouver real estate remains at moderate risk of price correction : CMHC. The proportion of asking-price and above-asking purchases for real estate has been rising steadily since July. Listen to current podcasts with today’s leading experts and hosts Adam and Matt Scalena. A healthy supply is anticipated for the downtown core and low interest rates will continue to impact housing activity. Prices are up year over year by 7.2%, from an average benchmark of $1,406,200 to $1,507,500. Real Estate; B.C. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. The numbers don’t lie. Unauthorized distribution, transmission or republication strictly prohibited. The pandemic will punish Prairie house prices the most in Canada, but even hotspots Toronto and Vancouver will see prices drop on the back of rising rental market vacancies and lower immigration rates, according to a new report. That’s a real estate tracker’s warning about claims home sales in Greater Vancouver are climbing up again. Analysis: The relatively few people who can afford west-side houses tend to be satellite families, says researcher Andy Yan. Dane Eitel, the founder and lead analyst of Eitel Insights, says the market will get worse next year. Sign up now for local breaking news alerts Subscribe, Live Now: families, as homes have suddenly become a workplace, a school, an entertainment centre and a refuge. The report shows a shift towards a sellers’ advantage in most of the submarkets, especially in Port Coquitlam and Langley. CTV News Channel, Next year is shaping up to be a seller’s market, according to real estate company Royal LePage. Royal LePage's forecast is more upbeat than most, including CMHC and some of the biggest banks, With no sports on big screen TVs, no tourists or seasonal events, and no office workers to attend lunches and parties, restaurants that usually ring up big holiday sales in December are instead shutting up shop. Recently from Our Blog. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Starlight Developments is asking to add 1,200 new rental homes to a 7.4 acre site where it has been renovating 528 existing, older ones, Brian Yu, Central 1 deputy chief economist, authored the report and calls B.C.’s ongoing pandemic recovery a “mix of short-term challenges and future optimism.”, Hundreds of corporate executives tracked in earnings calls in the past five months addressed urgency to cut real-estate costs. We are your premier source for buying, selling and investing in Vancouver’s Real Estate Market. continues along its restart plan. A new market report by Vancouver-based Dexter Realty shows that 2020 will finish with a bang. Last year in Metro Vancouver the Greater Vancouver real estate board showed one of the hottest years. ... November 2020 Market Insights Thursday, December 10, 2020. Sales of single-family detached homes on Vancouver … Buying a Home. Find the best places within the city of Vancouver. 3/4/2020. Real Estate News. It was the third consecutive month that the number of properties sold was up from the same period last year. for $799K, Have $25M to spare? VANCOUVER (NEWS 1130) – With bad news about the economy due to the COVID-19 crisis coming out on an almost-daily basis, many are wondering what this all means for the real estate values in Metro Vancouver. PreSale Incentives - Shop Before You Buy. 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