Okanagan Real Estate Market Statistics – July 2018

Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in July 2018.

Central Okanagan: Kelowna and Lake Country

There were 201 sales, 1,230 active listings, and a $782,398 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country. The average days on market were 44.

The condo market featured 129 sales and 571 active listings at the end of the month. The average sale price was $343,315 with 49 average days on market.

Townhome sales were 61, active listings were 361, average sale price was $518,211, and the average days on market were 60.MarketHotSheet_July2018_CentralOkanagan

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Squamish, Whistler and Sunshine Coast Real Estate Market Statistics – July 2018

Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler, and Sunshine Coast listings and sales in July 2018.

Squamish

In July 2018, there were 21 sales of detached homes and 157 active listings in Squamish. The benchmark sale price was $1,038,600 with an average days on market of 51.

The Condo market had 14 sales and 45 active listings at the end of the month.  The benchmark sale price was $536,300 with an average days on market of 28.

Townhome sales were 12 sales, active listings were 40. The benchmark sale price was $874,200 and the average days on market were 31.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_July2018_Squamish

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Greater Vancouver Real Estate Market Statistics – July 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in July 2018.

Vancouver-West

In the Vancouver Westside, there were 57 sales of detached homes and 858 active listings at the end of the month. The benchmark sale price was $3,356,500, with average days on market of 54. The hottest markets for sales were Dunbar, Kitsilano and Southlands with 7 sales each.

In comparison, the condo market had 295 sales, 1,203 active listings and a benchmark sale price of $835,200 with an average of 26 days on market. The hottest market for sales was Downtown VW, 55. sales.

Townhome sales were 39, active listings were 198. The benchmark sale price was $1,288,600 with an average days on market of 29. Kitsilano with 8 sales was the hottest market of the month.

It’s a buyer’s market for houses in Vancouver-West.

MarketHotSheet_July2018_VancouverWest

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North Delta, Surrey, Langley and Fraser Valley Real Estate Market Statistics – July 2018

Here are the latest real estate market statistics from Macdonald Realty on North Delta, Surrey, White Rock, Langley, and Fraser Valley listings and sales in July 2018.

North Delta

In the North Delta market, the benchmark sale price was $949,200 for detached homes. At the end of the month, there were 208 active listings and 34 sales.

The condo market had 2 sales and 29 active listings. The benchmark sale price was $434,700.

Townhomes featured 6 sales, 18 active listings and a $642,300 benchmark sale price.

It’s a seller’s market for townhomes in North Delta.

MarketHotSheet_July_NorthDelta

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Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – July 2018

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in July 2018.

Greater Victoria

In July 2018, there were 285 sales of single family homes and 926 active listings in the Greater Victoria. The benchmark sale price was $741,000 with an average days on market of 36. The hottest markets for sales were Saanich East and Langford with 60 and 48 sales respectively. There were also 15 sales and 180 active listings at the end of the month for waterfront homes.

In comparison, the Condo market had 188 sales, 420 active listings at the end of the month.  The benchmark sale price was $485,200 with an average days on market of 32. The hottest market for sales was Victoria, 70 sales.

Townhome sales were 67, active listings were 192 and the benchmark sale price was $586,100. The average days on market were 42, and the hottest market was Langford with 19 sales.

It’s a seller’s market in Victoria.

MarketHotSheet_July_Victoria

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How to Buy in Vancouver

First, you’ll want to understand the taxes you’re going to pay

It is impossible to think about buying in Vancouver as a foreigner without considering the now- infamous tax on foreign buyers and speculators introduced in 2016 to make housing in the region more affordable and cool down an extremely hot market.

In Vancouver, foreigners pay a 20% tax on top of the purchase price. The tax was introduced because of the perception that Vancouver, the most expensive market in Canada, was becoming a parking ground for global capital.

Now approaching the end of the second year, many say the tax has not had its intended effect. Jerry Wang, of MacDonald Realty, a luxury brokerage in Vancouver, said that although the tax slowed the market at the beginning, foreign buyers are back in the game.

The largest island offers proximity to a 180-mile long For the luxury “Buyers can get a mortgage fairly easily, and relatively speaking, the price point for the Vancouver area is still very reasonable,” Mr. Wang said, compared to other large cities around the world.

He said his clients have just shifted to a slightly lower price bracket to account for the tax, and are still “buying at a discount.” They also still buy at the high end. “This year we have seen so many properties over C$10 million (US$7.7 million) sold in Vancouver,” he said. “Most of them are to Chinese families still wanting to be here.”

Because of the tax, he added, it is “properties in the middle that are suffering,” referring to those in the “affordable luxury” range.

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Big Fat Deal: $11 Million to be a Minimalist in Kerrisdale

BigFatDealKerrisdale

Each week, BCBusiness takes you inside one of the most outrageously upmarket real estate offerings in the province

Address: 6485 Cedarhurst Street, Kerrisdale

Price: $10,998,000

Listing: R2234536

The skinny: Five-bedroom, seven-bathroom, 6,481-square-foot house on a 15,847-square-foot lot in Kerrisdale.

The bling: OK, it’s time to get with the times and leave the frou-frou behind. Yes, we know you love your frills and fancies, your chintz and your shag, but being a person of high net worth brings with it responsibilities. What? This is news to you? Don’t panic, we aren’t coming after your non-declared income or your shady shell companies. There’s no shorting your market up our sleeves, honest. We just think you should be aware that if you really want to look good around town right now, you should try living in a sleek, modern box with sliding windows for walls and (extremely expensive) natural materials that downplay your wealth rather than all that Italian marble and Svarowski crystal you’ve been bedecking your space with for decades. Seriously, dude, minimalism shows you’ve got so much money to burn you don’t have to prove it. You can clad your walls with wood and shower among lumps of raggedy rock, and people will think you have style. Sure, the through draft of indoor/outdoor living and that fabulous skinny pool are only really of value maybe two months of a Vancouver year, but that in itself shows your reserves are bottomless. And anyway, a dozen more patio heaters screwing up the environment isn’t your problem. Right? Rich people responsible? We were only joking.

The hidden extras: Wok room, media room, wine cellar, gym, air conditioning (because you might not want to, you know, open one of those great big wall windows and you deserve to live in a climate-controlled world).

This article was originally posted on BCBusiness on May 17, 2018. Written by Fiona Morrow 

 

Squamish, Whistler and Sunshine Coast Real Estate Market Statistics – June 2018

Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler, and Sunshine Coast listings and sales in June 2018.

Squamish

In June 2018, there were 11 sales of detached homes and 156 active listings in Squamish. The benchmark sale price was $1,039,000 with an average days on market of 49.

The Condo market had 14 sales and 52 active listings at the end of the month.  The benchmark sale price was $530,300 with an average days on market of 57.

Townhome sales were 13 sales, active listings were 39. The benchmark sale price was $899,800 and the average days on market were 23.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_June2018_Squamish

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Greater Vancouver Real Estate Market Statistics – June 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in June 2018.

Vancouver-West

In the Vancouver Westside, there were 81 sales of detached homes and 877 active listings at the end of the month. The benchmark sale price was $3,392,500, with average days on market of 43. The hottest markets for sales were Kitsilano and Cambie with 12 sales each.

In comparison, the condo market had 328 sales, 1,214 active listings and a benchmark sale price of $842,600 with an average of 20 days on market. The hottest market for sales was Downtown VW, 63. sales.

Townhome sales were 47, active listings were 228. The benchmark sale price was $1,303,600 with an average days on market of 21. Fairview VW with 14 sales was the hottest market of the month.

It’s a seller’s market for condos in Vancouver-West.

MarketHotSheet_June2018_VancouverWest

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Okanagan Real Estate Market Statistics – June 2018

Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in June  2018.

Central Okanagan: Kelowna and Lake Country

There were 228 sales, 1,195 active listings, and a $717,720 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country. The average days on market were 42.

The condo market featured 122 sales and 551 active listings at the end of the month. The average sale price was $359,860 with 40 average days on market.

Townhome sales were 72, active listings were 341, average sale price was $501,989, and the average days on market were 51.

MarketHotSheet_June2018_CentralOkanagan

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