Metro Vancouver Market Update - January 2020

By: Kim Lee

Metro Vancouver Market Update - January 2020

Tags: Housing Update

Metro Vancouver real estate market had a fairly strong start to the year, relative to the year before. Home sales remained steady in January and buyers were faced with less inventory and more competition. There were fewer sales in January compared to December, but January 2020 had more sales compared to January 2019. January 2020 sales increased by 42% compared to January 2019 and January 2020 s...Read More

BC Assessment Does Not Resemble The Market Value of Your Home

By: Kim Lee

BC Assessment Does Not Resemble The Market Value of Your Home

Tags: Keeping Up With Kim

If you’re a property owner, you should have received your BC Assessment in the mail. Majority of homeowners are seeing a drop in the value of their home by 5-15%, depending on the region.    The assessed value of your home is not a reflection of what is happening in the current market and should not be relied upon for purchase, sale or financing. Assessed values are determined o...Read More

Metro Vancouver Market Update - December 2019

By: Kim Lee

Metro Vancouver Market Update - December 2019

Tags: Market Update

December tends to be a slower month with fewer sales and inventory. We saw a 19% decrease in sales and a 50% drop in inventory compared to the previous month. However, 2019 turned out to be a stronger year than 2018. Sales in 2019 increased by 3% compared to all of 2018. If we compare December 2019 alone to December 2018, sales jumped by 88%. (December 2018 vs December 2019: 1072 sales vs 2016)...Read More

Metro Vancouver Market Update - November 2019

By: Kim Lee

Metro Vancouver Market Update - November 2019

Tags: Market Update

November was another solid month as we saw an increase in sales combined with a drop in total inventory. There were fewer newly listed homes, with only 2987 homes listed on MLS, that's a 26.7% decreased compared to October 2019. November 2019 sales increased by 55.3% compared to November 2018. If we break down the 2,498 sales that took place in November 2019, 33% of the sales were from deta...Read More

Metro Vancouver Market Update - October 2019

By: Kim Lee

Metro Vancouver Market Update - October 2019

Tags: Market Update

Metro Vancouver Market Update - October 2019 Similar to September 2019, Metro Vancouver housing market saw an uptick in activity.  October sales bounced 45% year-over-year. What is driving the recent uptick in purchasing activity? Well, I believe a number of buyers are stepping off the sidelines due to lower mortgage rates and home prices.    The benchmark price for all property...Read More

The Truth About Home Inspection

By: Kim Lee

The Truth About Home Inspection

Tags: Home Inspection

The Truth About Home Inspection.  If you’re buying a house and trying to decide if you should get a home inspection – the answer is YES.  I always tell my buyers to ALWAYS ALWAYS get an inspection. Buying a home is a huge financial decision so It is worth spending $350-$500.  A quality home inspection can reveal critical information about the condition of a home and ...Read More

Metro Vancouver Market Update - September 2019

By: Kim Lee

Metro Vancouver Market Update - September 2019

Tags: Market Update

Metro Vancouver Market Update - September 2019  The housing market is starting to stabilize with an increased number of homebuyers willing to enter the market. We saw over 2300 sales in September 2019, a 46% increase compared to this time last year and a 5% increase compared to last month.  Greater number of buyers are taking advantage of favourable market conditions and home demand...Read More

Metro Vancouver Market Update - August 2019

By: Kim Lee

Metro Vancouver Market Update - August 2019

Tags: Vancouver, Real Estate, Market Update

  Metro Vancouver Market Update - August 2019  Home buyer activity has been hot throughout the summer months. What we saw in July continued into August.    There were 2231 sales in august 2019. Although the number of sales were almost 13% less than the previous month, the number of sales increased by almost 16% compared to this time last year.   In August, we saw a s...Read More

A Recession Is Not A Housing Crisis

By: Kim Lee

A Recession Is Not A Housing Crisis

Tags: Real Estate, Recession, News

Is a recession coming or is the next economic boom in housing market is about to happen?  Some of you may have been following the media about a possible recession. You may be wondering if the recession will impact home prices in Vancouver. To destroy the myths of what is being said about the recession, recession is not a housing crisis. When people hear “recession” they are go...Read More

Metro Vancouver Market Update - July 2019

By: Kim Lee

Metro Vancouver Market Update - July 2019

Tags: Market Update

Metro Vancouver Market Update - July 2019  I got some positive news for you! There were 2551 sales in July, making it the second highest number of sales this year (23.1% increase compared to June 2019). The number of active listings went down, but that's not a surprise because not a lot of people put their homes on the market during the summer.  Because the number of sales went u...Read More