THE SNAPSHOT FOR NOVEMBER 2018 COULD IT BE?€¦ · Singapore ranked #1, posting gains of 13.1%...
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Luxury Market in Vancouver is Ranked as the World’s Worst If you are looking for a ‘return on investment’ for your Real Estate holdings, Vancouver has just ranked 43rd globally. Singapore ranked #1, posting gains of 13.1% annually while Vancouver declined at a rate of 11.2%. One interesting thing to note – while Vancouver’s detached home prices are down, luxury condo prices are forecast to move up 2%. As I have mentioned in past newsletters, I believe the demand for condos among the millennials and the downsizing boomers acts as a buffer to downward price pressures on this segment of the market. It has been quite some time since Vancouver area buyers have been in the driver’s seat! Buyers now have the time to make an informed buying decision with lots of time for subjects allowing for things like home inspections, appraisals and other important investigations. Sellers now need to be patient and listen to what the market is ‘saying’. Our team has lived through the 90’s where the real estate marker was really tough. If you are considering selling you need a real estate professional who has navigated these challenging markets before and has helped 100’s of happy sellers move on. If you are interested to know the current market value of your home or want to chat more about the different options for buying and selling a home, please don’t hesitate to give us a call as we’d be happy to put together a complimentary evaluation. We truly believe our role is to provide our clients with service for all your real estate needs and are happy to help in any way we can so your questions and comments are always welcome. P.S. Our 2019 Calendars are in! Instead of blanket mailing them out and risking that they end up in the recycling bin of those that don’t use paper calendars we will be sending them out as requested so please just contact us and we will get one to you. Thank you! Cheers, Don Eilers ReMax Circle of Legends ReMax Diamond Award MLS Lifetime Member ReMax Lifetime Achievement Award 604.889.9449 | [email protected] THE SNAPSHOT FOR NOVEMBER 2018 1453 Bellevue Ave., West Vancouver, BC V7T 1C3 “TALK TO DON” DON EILERS T. 604.889.9449 [email protected] LAUREN KENT T. 604.671.6115 [email protected] JILL WIERSMA T. 604.341.1411 [email protected] COULD IT BE? … WEST VANCOUVER - DETACHED NORTH VANCOUVER - DETACHED 0 100 200 300 400 500 600 700 Oct-2017 Nov-2017 Dec-2017 Jan-2018 Feb-2018 Mar-2018 Apr-2018 May-2018 Jun-2018 Jul-2018 Aug-2018 Sep-2018 Oct-2018 Units Listed Units Sold Active Listings WEST VANCOUVER - DETACHED NORTH VANCOUVER - DETACHED 0 50 100 150 200 250 300 350 400 450 500 Oct-2017 Nov-2017 Dec-2017 Jan-2018 Feb-2018 Mar-2018 Apr-2018 May-2018 Jun-2018 Jul-2018 Aug-2018 Sep-2018 Oct-2018 Units Listed Units Sold Active Listings
Transcript of THE SNAPSHOT FOR NOVEMBER 2018 COULD IT BE?€¦ · Singapore ranked #1, posting gains of 13.1%...
Luxury Market in Vancouver is Ranked as the World’s WorstIf you are looking for a ‘return on investment’ for your Real Estate holdings, Vancouver has just ranked 43rd globally. Singapore ranked #1, posting gains of 13.1% annually while Vancouver declined at a rate of 11.2%.
One interesting thing to note – while Vancouver’s detached home prices are down, luxury condo prices are forecast to move up 2%. As I have mentioned in past newsletters, I believe the demand for condos among the millennials and the downsizing boomers acts as a buffer to downward price pressures on this segment of the market.
It has been quite some time since Vancouver area buyers have been in the driver’s seat! Buyers now have the time to make an informed buying decision with lots of time for subjects allowing for things like home inspections, appraisals and other important investigations. Sellers now need to be patient and listen to what the market is ‘saying’.
Our team has lived through the 90’s where the real estate marker was really tough. If you are considering selling you need a real estate professional who has navigated these challenging markets before and has helped 100’s of happy sellers move on.
If you are interested to know the current market value of your home or want to chat more about the different options for buying and selling a home, please don’t hesitate to give us a call as we’d be happy to put together a complimentary evaluation. We truly believe our role is to provide our clients with service for all your real estate needs and are happy to help in any way we can so your questions and comments are always welcome.
P.S. Our 2019 Calendars are in! Instead of blanket mailing them out and risking that they end up in the recycling bin of those that don’t use paper calendars we will be sending them out as requested so please just contact us and we will get one to you. Thank you!
Cheers,
Don EilersReMax Circle of Legends ReMax Diamond Award MLS Lifetime Member ReMax Lifetime Achievement Award 604.889.9449 | [email protected]
THE SNAPSHOT FOR NOVEMBER 2018
DON EILERST. [email protected]
LAUREN KENTT. [email protected]
JILL WIERSMAT. [email protected]
1453 Bellevue Ave., West Vancouver, BC V7T 1C3“TALK TO DON”
N O R T H S H O R E N E W S B A N N E R
DON EILERST. [email protected]
LAUREN KENTT. [email protected]
JILL WIERSMAT. [email protected]
1453 Bellevue Ave., West Vancouver, BC V7T 1C3“TALK TO DON”
N O R T H S H O R E N E W S B A N N E R
COULD IT BE? …
WEST VANCOUVER - DETACHED NORTH VANCOUVER - DETACHED
` WV-DET WV-ATT
WEST VANCOUVER - DETACHED WEST VANCOUVER - ATTACHED
WEST VANCOUVER - DETACHED WEST VANCOUVER - ATTACHED
WEST VANCOUVER - DETACHED WEST VANCOUVER - ATTACHED
Months with less than 20 sales are not shown. Months with less than 20 sales are not shown.
0
100
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300
400
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Oct
-201
7
Nov
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7
Dec
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7
Jan-
2018
Feb-
2018
Mar
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8
Apr
-201
8
May
-201
8
Jun-
2018
Jul-2
018
Aug
-201
8
Sep
-201
8
Oct
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Units Listed Units Sold Active Listings
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100
150
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250
300
Oct
-201
6
Dec
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6
Feb-
2017
Apr
-201
7
Jun-
2017
Aug
-201
7
Oct
-201
7
Dec
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7
Feb-
2018
Apr
-201
8
Jun-
2018
Aug
-201
8
Oct
-201
8
Dollar Volume
In Millions
0.00.51.01.52.02.53.03.54.04.5
Oct
-201
6
Dec
-201
6
Feb-
2017
Apr
-201
7
Jun-
2017
Aug
-201
7
Oct
-201
7
Dec
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7
Feb-
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Ave. Price Median
In Millions
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20
30
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50
60
Oct
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7
Nov
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7
Dec
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7
Jan-
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Feb-
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Mar
-201
8
Apr
-201
8
May
-201
8
Jun-
2018
Jul-2
018
Aug
-201
8
Sep
-201
8
Oct
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Units Listed Units Sold Active Listings
5
10
15
20
25
Oct
-201
6
Dec
-201
6
Feb-
2017
Apr
-201
7
Jun-
2017
Aug
-201
7
Oct
-201
7
Dec
-201
7
Feb-
2018
Apr
-201
8
Jun-
2018
Aug
-201
8
Oct
-201
8
Dollar Volume
In Millions
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Oct
-201
6
Dec
-201
6
Feb-
2017
Apr
-201
7
Jun-
2017
Aug
-201
7
Oct
-201
7
Dec
-201
7
Feb-
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Apr
-201
8
Jun-
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Aug
-201
8
Oct
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8
Ave. Price Median
All Months Below 20 Sales
ABOVE INFORMATION IS FROM SOURCES BELIEVED RELIABLE BUT SHOULD NOT BE RELIED UPON WITHOUT VERIFICATION.REAL ESTATE BOARD OF GREATER VANCOUVER ASSUMES NO RESPONSIBILITY FOR ITS ACCURACY.
WEST VANCOUVER - DETACHED NORTH VANCOUVER - DETACHED` NV-DET NV-ATT
NORTH VANCOUVER - DETACHED NORTH VANCOUVER - ATTACHED
NORTH VANCOUVER - DETACHED NORTH VANCOUVER - ATTACHED
NORTH VANCOUVER - DETACHED NORTH VANCOUVER - ATTACHED
Months with less than 20 sales are not shown. Months with less than 20 sales are not shown.
050
100150200250300350400450500
Oct
-201
7
Nov
-201
7
Dec
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7
Jan-
2018
Feb-
2018
Mar
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8
Apr
-201
8
May
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Jun-
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Units Listed Units Sold Active Listings
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6
Dec
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6
Feb-
2017
Apr
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7
Jun-
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Aug
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7
Oct
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7
Dec
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7
Feb-
2018
Apr
-201
8
Jun-
2018
Aug
-201
8
Oct
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8
Dollar Volume
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0.0
0.5
1.0
1.5
2.0
2.5
Oct
-201
6
Dec
-201
6
Feb-
2017
Apr
-201
7
Jun-
2017
Aug
-201
7
Oct
-201
7
Dec
-201
7
Feb-
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Apr
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8
Jun-
2018
Aug
-201
8
Oct
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Ave. Price Median
In Millions
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20
40
60
80
100
120
140
Oct
-201
7
Nov
-201
7
Dec
-201
7
Jan-
2018
Feb-
2018
Mar
-201
8
Apr
-201
8
May
-201
8
Jun-
2018
Jul-2
018
Aug
-201
8
Sep
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8
Oct
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8
Units Listed Units Sold Active Listings
10
20
30
40
50
60
Oct
-201
6
Dec
-201
6
Feb-
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Apr
-201
7
Jun-
2017
Aug
-201
7
Oct
-201
7
Dec
-201
7
Feb-
2018
Apr
-201
8
Jun-
2018
Aug
-201
8
Oct
-201
8
Dollar Volume
In Millions
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
Oct
-201
6
Dec
-201
6
Feb-
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Apr
-201
7
Jun-
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Aug
-201
7
Oct
-201
7
Dec
-201
7
Feb-
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Apr
-201
8
Jun-
2018
Aug
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8
Oct
-201
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Ave. Price MedianIn Millions
ABOVE INFORMATION IS FROM SOURCES BELIEVED RELIABLE BUT SHOULD NOT BE RELIED UPON WITHOUT VERIFICATION.REAL ESTATE BOARD OF GREATER VANCOUVER ASSUMES NO RESPONSIBILITY FOR ITS ACCURACY.
