Latest Blog Posts - Mike Stewart

May 2021 Real Estate Board Of Greater Vancouver Statistics Package With Charts & Graphs

https://youtu.be/PyiI9SL6B3Y Home sale and listing activity in Metro Vancouver moves off of its record-breaking pace VANCOUVER, BC – June 2, 2021 – The Metro Vancouver* housing market saw steady home sale and listing activity in May, a shift back from the record-breaking activity seen in the earlier spring months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,268 in May 2021, a 187.4 per cent increase from the 1,485 sales recorded in May 2020, and a 13 per cent decrease from the 4,908 homes sold in April 2021. Last…

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Real Estate Outlook Vancouver 2021 – January Webinar

https://youtu.be/D3eh6Zo3y3w Forecast Real estate There are two camps for the 2021 forecast: the bulls and the bears. For the bulls, CREA says we should go up by 9.1%, RE/MAX says 4-6%, and Royal LePage says 5.5%. These estimates are based on different housing trend factors. The bears are pessimistic: RBC and Scotiabank think it will be flat, Fitch Ratings believes we’ll decline by 3-5%, and CMHC thinks it will be 9-18%. This was also their stance for the prior year, which they were wrong about. All of this to tell you that it’s confusing! First off, these stats are…

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Real Estate Outlook Vancouver 2021 – May Webinar

https://youtu.be/dHt9e5Frbic Vancouver Market Update: May Market update April 2021 listings were 342% higher than the same month last year, but there was also a 14% decrease in homes sold from the prior month. When the sales-active listing ratio is below 12%, analysts believe prices will trend downward. When the ratio is above 20%, prices should trend up. Here’s where we’re at: Prices were viciously going up, but if you look at April, the numbers significantly dropped: What are the reasons these numbers have gone down from March to April? We’re seeing an expansion in supply that’s normal when there’s a…

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April 2021 Real Estate Board Of Greater Vancouver Statistics Package With Charts & Graphs

Supply response emerges in Metro Vancouver’s active housing market VANCOUVER, BC – May 4, 2021 – Home sellers have become increasingly active in Metro Vancouver’s* housing market this spring in response to heightened demand and rising home values that have materialized during the pandemic. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,908 in April 2021, a 342.6 per cent increase from the 1,109 sales recorded in April 2020, and a 14 per cent decrease from the 5,708 homes sold in March 2021. Last month’s sales were 56.2 per cent…

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‘Hot Areas to Invest in Vancouver’ April Webinar

https://youtu.be/rwCPW92N1HI Hot Areas to Invest in Vancouver April 8, 2021 Christian Dy, Latitude West Financial Mike Stewart, Oakwyn Realty Downtown Top producing realtor since 2005 vancouvernewcondos.com or mikestewart.ca Market update March 2021 listings were significantly up 126% from the same month last year. The number of transactions last March were super low because of COVID when things started to shut down, so it’s a low baseline. But, the report says that in March, residents bought and listed across the region at levels not seen before. It’s a huge increase because of the amount of stimulus going into the market, and…

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March 2021 Real Estate Board Of Greater Vancouver Statistics Package With Charts & Graphs

March home sales and new listings set records in Metro Vancouver VANCOUVER, BC – April 2, 2021 – Home buyer and seller activity reached unprecedented levels across Metro Vancouver* in March. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 5,708 in March 2021, a 126.1 per cent increase from the 2,524 sales recorded in March 2020, and a 53.2 per cent increase from the 3,727 homes sold in February 2021. Last month’s sales were 72.2 per cent above the 10-year March sales average and is the highest monthly sales…

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February 2021 Real Estate Board Of Greater Vancouver Statistics Package With Charts & Graphs

Home buyer competition intensifies across Metro Vancouver’s housing market VANCOUVER, BC – March 2, 2021 – Competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver’s* housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,727 in February 2021, a 73.3 per cent increase from the 2,150 sales recorded in February 2020, and a 56 per cent increase from the 2,389 homes sold in January 2021. Last month’s sales were 42.8 per cent above the 10-year February sales average. “Metro Vancouver’s housing market is…

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‘Hot Areas to Invest in Vancouver’ February Webinar

https://youtu.be/76HhB0zTv70 Hot Areas to Invest in Vancouver February 11, 2021 Christian Dy, Latitude West Financial Mike Stewart, Oakwyn Realty Downtown Top producing realtor since 2005 vancouvernewcondos.com or mikestewart.ca Market update January 2021 listings were up 86% from December, one month prior. This is 15.7% higher than in January 2020, so the year will be busy and we’re already off and running strongly. Analysts predict sales prices trend downwards when the Sales to Listings ratio is below 12%. When this ratio is above 20%, sales prices will likely trend upward. November 2020: we had detached homes at 27.9%, townhomes at…

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January 2021 Real Estate Board of Greater Vancouver Statistics Package with Charts & Graphs

Home buyer demand remains elevated across Metro Vancouver VANCOUVER, BC – February 2, 2021 – In the first month of 2021, Metro Vancouver’s* housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,389 in January 2021, a 52.1 per cent increase from the 1,571 sales recorded in January 2020, and a 22.8 per cent decrease from the 3,093 homes sold in December 2020. Last month’s sales…

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December 2020 Real Estate Board of Greater Vancouver Statistics Package with Charts & Graphs

Metro Vancouver housing market shows resilience in 2020 VANCOUVER, BC – January 5, 2021 – Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded in 2019, and a 25.7 per cent increase from the 24,619 homes sold in 2018. Last year’s sales total was 2.8 per cent below the 10-year sales average. “When the pandemic began in March, the…

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‘Hot Areas to Invest in Vancouver’ December Webinar

Hot Areas to Invest in Vancouver December 17, 2020 Christian Dy, Latitude West Financial Mike Stewart, Oakwyn Realty Downtown Top producing realtor since 2005 vancouvernewcondos.com or mikestewart.ca Market update Real estate in Vancouver is doing very well. November sales are up 24.6% above the 10-year average. Only twice in the past 10 years has this actually happened. Analysts are predicting sales prices will go down when the sales-to-listing ratio (sales divided by listings) is below 12. The higher the number, the greater the upward pressure on prices. Right now in Vancouver, we’re at 27.9% for detached homes, 40% for…

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November 2020 Real Estate Board of Greater Vancouver Statistics Package with Charts & Graphs

November home sales outpace seasonal norms and long-term averages Vancouver, B.C. – December 2, 2020 – Housing demand in Metro Vancouver* continues to outpace historical averages with November sales eclipsing 3,000 for the first time since 2015. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,064 in November 2020, a 22.7 per cent increase from the 2,498 sales recorded in November 2019, and a 16.9 per cent decrease from the 3,687 homes sold in October 2020. Last month’s sales were 24.6 per cent above the 10-year November sales average…

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