Despite the best efforts of the provincial government to put a lid on escalating home prices the pundits are predicting prices will continue to rise in Vancouver.  Helmut Pastrick, Chief Economist at Central 1 Credit Union (where the credit unions borrow their money) believes the foreign buyer tax will only slow things down for a short time before the upward trend continues.  Read the full report here:  Central 1 Report

Read my Fall newsletter and find out what the crystal ball foretells. 

Fall 2016 newsletter

Great little video by the Real Estate Board of  Greater Vancouver setting out the status of the market in the region for August.  These numbers include the Sunshine Coast but are not specific to the Coast.  (Our prices are cheaper and we have moved into more of a balanced market, at least for single detached homes).

http://www.rebgv.org/podcasts/august-2016-market-summary

The sizzling summer market is cooling down and the numbers show we are now entering a balanced market, at least for single detached homes and condos.  Townhomes remain in a seller’s market.  The sales-to-active listings ratio was 22 per cent for detached homes, 20% for condos, and 48% for townhomes.

There were 321 active listings for single detached homes on the Sunshine Coast in August, representing a 43 per cent decline compared to August last year.  The 72 sales for the month was up by 16 percent over last year, though, and averaging 51 days on the market.  The benchmark price was $475,500, up 26% over August last year.  That is a pretty hefty increase. 

The 7 condo sales in August represented a 16 percent increase over this time last year, and the 11 townhome sales a whopping 175% increase.

See the complete report here:

http://members.rebgv.org/realtorlink/rebgv/statscentrereports/Sunshine-Coast.pdf