VANCOUVER REAL ESTATE MARKET UPDATE FOR 2017

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.

number of homes sold in Vancouver in 2017

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.

average prices for Vancouver homes in 2017

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!

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.