Vancouver Real Estate Market Update for 2017Posted on January 10, 2018
Happy New Year, everyone! Now that 2017 is in the books, we wanted to share an overview of the Vancouver real estate market throughout the past year. We’d also like to let you know how we did as a team in 2017. You can watch the video for a full year in review or read through the numbers here.
According to the Real Estate Board of Greater Vancouver, there were 35,993 homes sold in Vancouver in 2017 – 10% less compared to 2016 and 15% less than 2015. Although we’re seeing fewer sales in the market, which may be due to low inventory, the benchmark price of a home in Greater Vancouver was $1,050,000.
If we look at December 2017 in particular, the sales to active ratio was sitting at 29% which means we’re technically still in a strong seller’s market. We’ll have to wait and see how the new mortgage stress test rules affect the market through 2018.
Our Team’s Success
In 2017, Team Gary Serra helped 86 families achieve their real estate goals! We’re very honoured and thrilled to help so many wonderful people. Thank you so much for your ongoing support.
If you’re looking buy your next dream home, sell your home for the most money, invest in the Vancouver real estate market, or simply have questions about these updates, reach out to us today. We’ll help you make the right move!