Thursday, July 18, 2019
Purchase Plus Improvements
I had a coffee recently with Doc Livingston a Tri City realtor with EXP Realty and we talked about a great program that can help people that find a home that pretty much meets their needs but needs some renovations and updating. Purchase Plus Improvements is a program that can help with the renovation program.
Thursday, July 4, 2019
Vancouver Real Estate Market Update for July 2019 With John Charbonneau
Welcome to Your House Matters, I’m John Charbonneau with TMG The Mortgage Group and www.canadianmortgagefinders.com and this is your July Real Estate Market Update for activity in the Vancouver Real Estate Board. Sales statistics for June 2019 have just arrived and we saw 2077 homes sold consisting of single family, apartments and attached units. That represents a decrease of 14.4% from a year ago.
Sellers would appear to continue their efforts to capture last years home values. There were 4,751 newly listed properties come on to the market last month, that number is down by 10% compared to June 2018.
The total number of properties listed at the end of June was just shy of 15,000 and that big total represents an increase of 23% compared to this time a year ago.This is the highest level of inventory in the last 5 years.
We saw 13.9% of the inventory sold last month, and when you have a prolonged period of 12% or less inventory selling, month after month, you can expect continued softening of prices. The composite benchmark price for all properties has now fallen below $1,000,000.
Single family home prices were down 10.9% from June 2018, with apartment prices down 8.9% compared to the same month last year and attached homes saw a decrease of 8.6% from June 2018.
The area covered by the Vancouver Real Estate Board is quite vast and this area consists of a substantial number of smaller individual markets. If you would like to find out what is happening in your local neighbourhood, feel free to give me a call and I can refer you to one of our trusted local real estate advisors. That’s the Vancouver Real Estate market update for July 2019, I look forward to connecting with you next month.
Sellers would appear to continue their efforts to capture last years home values. There were 4,751 newly listed properties come on to the market last month, that number is down by 10% compared to June 2018.
The total number of properties listed at the end of June was just shy of 15,000 and that big total represents an increase of 23% compared to this time a year ago.This is the highest level of inventory in the last 5 years.
We saw 13.9% of the inventory sold last month, and when you have a prolonged period of 12% or less inventory selling, month after month, you can expect continued softening of prices. The composite benchmark price for all properties has now fallen below $1,000,000.
Single family home prices were down 10.9% from June 2018, with apartment prices down 8.9% compared to the same month last year and attached homes saw a decrease of 8.6% from June 2018.
The area covered by the Vancouver Real Estate Board is quite vast and this area consists of a substantial number of smaller individual markets. If you would like to find out what is happening in your local neighbourhood, feel free to give me a call and I can refer you to one of our trusted local real estate advisors. That’s the Vancouver Real Estate market update for July 2019, I look forward to connecting with you next month.
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