{"id":645,"date":"2018-03-08T13:23:39","date_gmt":"2018-03-08T18:23:39","guid":{"rendered":"http:\/\/www.kanavero.com\/blog\/?p=645"},"modified":"2018-03-08T13:23:39","modified_gmt":"2018-03-08T18:23:39","slug":"real-estate-market-report-february-2018","status":"publish","type":"post","link":"https:\/\/www.kanavero.com\/blog\/2018\/03\/real-estate-market-report-february-2018\/","title":{"rendered":"Real Estate Market Report – February 2018"},"content":{"rendered":"

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Home buyers were less active in February<\/h2>\n

Metro Vancouver* home sales dipped below the long-term historical average in February.<\/p>\n

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,207 in February 2018, a nine per cent decrease from the 2,424 sales recorded in February 2017, and a 21.4 per cent increase compared to January 2018 when 1,818 homes sold.<\/p>\n

Last month\u2019s sales were 14.4 per cent below the 10-year February sales average. By property type, detached sales were down 39.4 per cent over the same period, attached sales were down 6.8 per cent, and apartment sales were 5.5 per cent above the 10-year February average.<\/p>\n

\u201cRising interest rates and stricter mortgage requirements have reduced home buyers\u2019 purchasing power, particularly for those at the entry level of our market,\u201d Jill Oudil, REBGV president said. \u201cEven still, the supply of apartment and townhome properties for sale today is unable to meet demand. On the other hand, our detached home market is beginning to enter buyers\u2019 market territory.\u201d<\/p>\n

\u201cThe spring is traditionally the busiest time for home buyers and sellers in our market. We\u2019ll wait to see how they react to the taxes and other policy measures that our provincial and federal governments have introduced so far this year,\u201d Oudil said. \u201cTo help you navigate these changes in today\u2019s housing market, it\u2019s important to work with your local REALTOR\u00ae.\u201d<\/p>\n

Sales of detached properties in February 2018 reached 621, a 16.6 per cent decrease from the 745 detached sales recorded in February 2017. The benchmark price for detached properties is $1,602,000. This represents an 8.2 per cent increase from February 2017 and is virtually unchanged from January 2018.<\/p>\n

Sales of apartment properties reached 1,185 in February 2018, a 7.1 per cent decrease compared to the 1,275 sales in February 2017. The benchmark price of an apartment property is $682,800. This represents a 27.2 per cent increase from February 2017 and a 2.6 per cent increase compared to January 2018.<\/p>\n

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Taken from: Real Estate Board of Greater Vancouver<\/p>\n

Photo by:@outofasuitcase<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  Home buyers were less active in February Metro Vancouver* home sales dipped below the long-term historical average in February. The Real Estate Board of Greater Vancouver (REBGV) reports that … [read more<\/a>]<\/p>\n","protected":false},"author":5,"featured_media":647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/posts\/645"}],"collection":[{"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/comments?post=645"}],"version-history":[{"count":3,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/posts\/645\/revisions"}],"predecessor-version":[{"id":657,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/posts\/645\/revisions\/657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/media\/647"}],"wp:attachment":[{"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/media?parent=645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/categories?post=645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kanavero.com\/blog\/wp-json\/wp\/v2\/tags?post=645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}