Real Estate Market News

And that was just at their June meeting! The interest earned on Deposit money held in Trust accounts; in BC, is used to support projects that strengthen communities and protect our shared land and water.  This amounts to millions a year! Article

Kelowna takes building boom to next level Building permits average $200 million a month and housing sales are up 253% from 2020 as Okanagan city shifts into development overdrive. Article

Home sales will fall 20% next year: BCREA British Columbia housing sales will see another "record-smashing" performance this year before sales plunge more than 20% in 2022 as price increases fall to single-digit levels, according to the BC Real Estate Association. Article

Association of Interior REALTORS:  A lot of people believe that foreign buyers are what's driving our market but this data shows that as usual, the majority of buyers come from within our own real estate board area, followed by the lower mainland and BC in general.  Albertans have increased to 10% of our buyers, followed [...]

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