East Vancouver Real Estate Market Update – September 2016

05.09.2016

Hello WeLoveEastVan.com readers! We hope you’re having a great long weekend, and are gearing up for a new and improved (hopefully) real estate market.

Everyone, including us agents, are curious as to what’s going to happen this Fall. The additional 15% Property Transfer Tax for foreigners has made a difference in some markets, but not all, and with only one month of data (and that month was August, a historically slow month in real estate), it’s hard to get a sense of just how much the tax has affected the market. The Westside Detached Market saw a noticeable change in value; read on for our thoughts on the East Van Real Estate Market.

At the end of the day, we’re hoping to see an influx of new inventory in the Fall in order to help bring us back to a balanced market for Buyers and Sellers. Our team has a number of great listings coming out in the next few weeks, but only time will tell if that’s indicative of the upcoming market.

Onto the numbers.. we saw a slight change in the market this past month, but August typically has fewer listings and fewer sales. Every market had a comparable number of listings to the previous month, but the detached market has seen a huge jump in inventory since January, while townhouses are down over the year. The number of sales are down, which leads to a lower Sales to Active Ratio (compared to last month) for each market: Detached is at 12.6% (a balanced market), Townhouses are at 37% and Condos are at 60%.

East Vancouver Condo Market Update

East Vancouver Townhouse and Half Duplex Market Update

East Vancouver Detached House Market Update

(Green is Detached Houses, Blue is Condos, Orange is Townhouses)

Total Inventory:

Sales to Active Ratio:

*** Keep in mind that a balances market is between 0.15 and 0.20 ***

Average Sales Price:

If you’re looking for a new home, keep your finger on the pulse the next few weeks (our Custom MLS System can help with that) as there could be some great new listings hitting the market. For the Sellers out there, our Custom MLS System can also help notify you of what’s happening with similar properties to yours – the number of similar listings and their sale prices can dictate how to approach your sale.

If you’re seriously thinking of selling your home, take 30 seconds and use our free, no obligation Home Evaluation form.

On another note, our team was just named a Top 10 RE/MAX Team in Canada, and the #2 RE/MAX Team in Vancouver (based on transactions), so if you’re looking for a experience and award winning team, make sure you contact us for all your real estate needs.

[x] close

Login for Full MLS Access

Name*:

Password*:

Email*:

Phone:

Budget: -

Square ft.: -

# of Bedrooms:

# of Bathrooms:

Area:

Key criteria:

Terms of Use

The term Virtual Office Website ("VOW") refers to a Participant's (REALTORS®) Internet website, or a feature of a Participant's Internet website, through which the Participant provides real estate brokerage services to Registrants (clients and prospects) with whom the Participant has first established a relationship where the Registrant has the opportunity to search for MLS® data, subject to the Participant's oversight, supervision and accountability. By agreeing to these "Terms of Use" you:

  1. acknowledge and understand that the Terms of Use do not create an agency relationship and do not impose a financial obligation on the Registrant or create any representation agreement between the Registrant and the Participant;
  2. understand that all data obtained from the VOW is intended only for your personal, non-commercial use;
  3. do have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered through the VOW
  4. agree not to copy, redistribute or retransmit any of the data or information provided;
  5. acknowledge the Board/Association ownership of and the validity of the copyright in the MLS® database.
  6. agree that all information provided may be provided to the relevant Board and may be used to administer and operate the VOW and to investigate any breach of security of the data or the MLS® rules
  7. that a "mouse click" is sufficient acknowledgement and agreement to the terms
  8. must supply a user name and a password, the combination of which must be different from those of all other Registrants on the VOW, before being permitted to search and view information from the MLS® database via the VOW.
  9. must provide a valid email address. The Registrant may be permitted to access the VOW only after the Participant has verified that the email address provided is valid the Registrant's agreement to the VOW's Terms of Use is confirmed.
  10. understand the Participant must at all times maintain a record of the name, telephone number and email address supplied by the Registrant, and the username and current password of each Registrant, such records to be kept for not less than 180 days after the expiration of the validity of the Registrant's password. If the Board/Association has reason to believe that a Participant's VOW has caused or permitted a breach in the security of the data or a violation of MLS® rules related to use by one or more Registrants, the Participant shall, upon request, provide to the Board/Association a copy of the record of the name, email address, telephone number, username, current password, and audit trail, if required, of any Registrant identified by the Board/Association to be suspected of involvement in the violation.
  11. Understand that information on this site is deemed to be valid but is not guaranteed. It is the responsibility of the registrants to confirm all information on their own. Broker may not have reviewed or approved listing enhancements. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  12. Understand any agreement entered into at any time between the Participant and Registrant imposing a financial obligation on the Registrant or creating agency representation of the Registrant by the Participant must be established separately from the Terms of Use, must be prominently labelled and may not be accepted solely by mouse click
  13. have received, read and understand the brochure published by the British Columbia Real Estate Association entitled Working With a REALTOR®

Having agreed to the terms and conditions of use, I would like to have access to this VOW information.

 Terms and Conditions I agree to the Terms and Conditions

[x] close

Login for VOW Access

Remember me

Don't have an account? Register now!