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October 2017

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“No Good News” on “Throttled” Vancouver Housing Supply

Vancouver’s supply of new multi-family housing continues to be “throttled,” with not one new, move-in-ready concrete condo or townhome available within the city limits, according to the latest quarterly State of the Market report from the Urban Development Institute, released September 12.

The report, prepared for the UDI by research group Urban Analytics, also found that even outside of Vancouver proper, completed and unsold inventory is at record lows, with just 23 move-in ready new concrete condos for sale in the whole of Metro Vancouver, as of 2017’s second quarter.

 
 

Monthly Local Market Update

With the arrival of fall, now is a good time to check in on your local market and see if you’re in a buyers’ market, sellers’ market or balanced market with our quick reference infographics below.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

Before and After: 6 Bathrooms That Said Goodbye to the Tub

Bathtubs, while a common bathroom feature, don’t always get a lot of use. Fifty-six percent of respondents to a Houzz survey say they never use their tub for taking a bath. So it’s no surprise that some people are opting to take out the tub altogether when they remodel their bathroom.

 

B.C. Real Estate News

LOWER MAINLAND

Brisk condo sales fuel Greater Vancouver housing market (The Globe and Mail)

Relief in Vancouver housing affordability ‘closed for now’: RBC (BIV)

City of Surrey cracking down on illegal secondary suites (CTV News)

Langley home sales still sizzling into fall (Langley Advance)

VICTORIA & VANCOUVER ISLAND

Greater Victoria real estate market cools, but prices rise in September (Times Colonist)

House Hunting in ... Victoria (New York Times)

Victoria now part of ‘millionaires club’ (Oak Bay News)

SQUAMISH & WHISTLER

A Crazy Real Estate Market in Squamish: Condo Prices Surge 31 Per Cent Over Last Year (The Squamish Reporter)

OKANAGAN

Real estate experts gaze in Kelowna’s ‘Crystal Ball’ of future development (Kelowna Now)

Kelowna’s commercial real estate is booming, just like its housing market (Global News)

 
 

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©2017 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com