Real Estate Market News

Quite the dramatic chart both in the downward crash and the amazing, unexpected soaring sales!

Wow! This would change the downtown landscape.... It's to be a mix of rentals, owned condo's, shared accommodation and commercial/retail. Article

BC Hydro has a new report out... The average mobile home uses 50% more electricity per square foot than an average single-family house. Article

There are so many aspects to consider... Do you want to keep the tenants, move in yourself or move a family member in? Article

Covid-19 is inspiring innovation in home building. Touchless entries, bringing back built-in computer desks and exterior elevators... all changes designed to decrease congestion and germ transmission. Article

OMREB Q3 2020 Summary:  As usual, the majority of buyers come from within our own real estate board area, followed by the lower mainland and BC in general.  I kind of thought more Albertans had moved here but only 8% of our sales are to Albertans.

OMREB October 2020 Summary:  Who would have know that Sales, Price & Benchmark Price's would be up so dramatically with dramatically lower inventory levels?  It's been a whacky year that's kept us on our toes!  Condo's are bucking the trend with higher inventory levels, increased sales and prices.

RE/MAX says the Canadian real estate market is "ripe with a wide range of opportunities for both new homebuyers and homeowners looking to upgrade." Greater Toronto Area: $890,400 (+11.1%) Greater Vancouver Area: $1,038,700 (+5.3%) Ottawa: $517,800 (+19.9%) Greater Montreal Area: $408,200 (+16.4%) Halifax: $372,982 (+18.1%) Article

BC real estate sales almost hit $50B in first 9 months of 2020 Sales soar to $49.7B in the first 9 months of 2020, up 25% over last year! Article

September 2020 We are still playing catch up because of the slow spring we had!   The market continues to be strong in all price ranges in both sales and price.

GST & vacation homes Taxation on properties seems to be ever changing!  This article helps you navigate through how GST affects vacation properties in BC. Article

Retrofitting used homes to be a government priority The Province is moving forward with a plan to retrofit used homes to increase energy efficiency and reduce greenhouse gases.  BCREA is encouraging the government to be progressive, yet thoughtful about the impact on homeowners. Article

Skyrocketing strata fee's election priority for BCREA Strata insurance has been quite the nightmare in BC this year.  Fewer insurers & skyrocketing increases to policies means strata fee's have risen dramatically across the province.  BCREA is hoping that these issues stay top of mind to the political candidates. Article

OMREB Jan-June 2020:  I'm often asked where the Buyers come from and our Real Estate Board does an excellent job of collecting and providing this information to us every quarter.  If you're interested, click on the info-graphic and you'll see that about 84% of our buyers come from B.C. & 8% from Alberta (which is [...]

OMREB April 2020:  I'm often asked where the Buyers come from and our Real Estate Board does an excellent job of collecting and providing this information to us every quarter.  If you're interested, click on the info-graphic and you'll see that about 86% of our buyers come from B.C. & 5% from Alberta.

Population Growth & Housing Demand Immigration is the most important driver of population growth in BC. The global pandemic has resulted in a sharp drop in immigration and consequently BC reporting one of the lowest quarterly increases in population growth since 2011. In the short term, the impact of lower population growth will weigh most [...]