Greg Thornton & Colin Thornton  

Top 10% of Greater Vancouver REALTORS® for 33 Years ! In Listing, Sales, & Dollar Volume!


``Modern Day Marketing Techniques With Old Fashioned Service``

RE/MAX Sabre Realty Group 604-942-0606

102-2748 Lougheed Hwy, Port Coquitlam, V3B 6P2

            

Greg Thornton
Cell:604-644-8252
Office:604-942-0606
Toll Free:1-888-942-0606

Colin Thornton
 

 

-  Sabre The Autism Support Dog

 

-  Children's Miracle Network

Testimonials

TESTIMONIALS

WHAT MY CLIENTS SAY

 

Mortgage Calculator

MORTGAGES 

WHAT CAN YOU AFFORD?

 

Home Evaluation

HOME VALUE

 WHAT'S YOUR HOME WORTH?

 

Why Sign Up?

  • Save your Listing Searches
  • Email Alerts on new Listings
  • See new listings sooner
  • Tag your Favourites for later

Already A Member?

Housing supply up, demand down across Metro Vancouver

July’s residential housing sales in Metro Vancouver* reached their lowest levels for that month since the year 2000.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,070 in July 2018, a 30.1 per cent decrease from the 2,960 sales recorded in July 2017, and a decrease of 14.6 per cent compared to June 2018 when 2,425 homes sold.

Last month’s sales were 29.3 per cent below the 10-year July sales average.

“With fewer buyers active in today’s market, we’re seeing less upward pressure on home prices across the region,” Phil Moore, REBGV president said. “This is most pronounced in the detached home market, but demand in the townhome and apartment markets is also relenting from the more frenetic pace experienced over the last few years.”

There were 4,770 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2018. This represents a 9.2 per cent decrease compared to the 5,256 homes listed in July 2017 and a 9.6 per cent decrease compared to June 2018 when 5,279 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,137, a 32 per cent increase compared to July 2017 (9,194) and a 1.6 per cent increase compared to June 2018 (11,947).

“Summer is traditionally a quieter time of year in real estate. This is particularly true this year,” Moore said. “With increased mortgage rates and stricter lending requirements, buyers and sellers are opting to take a wait-and-see approach for the time being.”

For all property types, the sales-to-active listings ratio for July 2018 is 17.1 per cent. By property type, the ratio is 9.9 per cent for detached homes, 20.2 per cent for townhomes, and 27.3 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,087,500. This represents a 6.7 per cent increase over July 2017 and a 0.6 per cent decrease compared to June 2018.

Sales of detached properties in July 2018 reached 637, a decrease of 32.9 per cent from the 949 detached sales recorded in July 2017. The benchmark price for detached properties is $1,588,400. This represents a 1.5 per cent decrease from July 2017 and a 0.6 per cent decrease compared to June 2018.

Sales of apartment properties reached 1,079 in July 2018, a decrease of 26.5 per cent compared to the 1,468 sales in July 2017. The benchmark price of an apartment property is $700,500. This represents a 13.6 per cent increase from July 2017 and a 0.5 per cent decrease compared to June 2018.

Attached property sales in July 2018 totalled 354, a decrease of 34.8 per cent compared to the 543 sales in July 2017. The benchmark price of an attached unit is $856,000. This represents a 12.1 per cent increase from July 2017 and a 0.4 per cent decrease compared to June 2018.

Click here for the full June 2018 stats package

 

 

 

 


For more information please contact:
Craig Munn
Assistant Manager, Communication
Real Estate Board of Greater Vancouver
604.730.3146
cmunn@rebgv.org

- See more at: http://www.rebgv.org/news-statistics/july-home-sale-activity-increases-greater-vancouver#sthash.omrBlAyZ.dpuf

Reuters
Vancouver’s skyline.

 

Greg & Colin Thornton RE/MAX Sabre Realty Group

604-942-0606 Info@TheThorntonGroup.Ca

Successfully Representing: 

Port Moody: College Park, Glenayre, Port Moody Centre, North Shore Port Moody, Anmore, Belcarra, Barber Street, Heritage Mountain, Heritage Woods, Ioco, Mountain Meadows, Westwood Summit (Port Moody).

 
Coquitlam: Burke Mountain, Canyon Springs, Cape Horn, Central Coquitlam, Chineside, Coquitlam East, Coquitlam West, Eagle Ridge, Upper Eagle Ridge, Harbour Chines, Harbour Place, Hockaday, Maillardville, Meadow Brook, New Horizons, North Coquitlam, Park Ridge Estates, Ranch Park, River Springs, Scott Creek, Summit View, Westwood Plateau, Westwood Summit (Coquitlam).
 
Port Coquitlam: Birchland Manor, Central Port Coquitlam (Downtown), Citadel Heights, Glenwood, Lincoln Park, Lower Mary Hill, Mary Hill, Oxford Heights, Riverwood, Woodland Acres.
 
Pitt Meadows: Central, Mid, North, South, West.
 
Maple Ridge: Albion, Cottonwood, East Central, West Central, North Maple Ridge, Northeast Maple Ridge, Northwest Maple Ridge, Silver Valley, Southwest Maple Ridge, Thornhill, Websters Corners, Whonnock.
 
Other areas of service include: Surrey, Langley, Cloverdale, Burnaby, Mission, New Westminster, Vancouver.