Brendan Connolly

Vancouver Real Estate: Westside, Eastside & Downtown

Residential Real Estate Consultant
RE/MAX Select Properties  604-833-8793

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Reduced demand is allowing housing supply to accumulate

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VANCOUVER, BC – June 4, 2018 – Home buyer demand continues to decline across the Metro Vancouver* housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,833 in May 2018, a 35.1 percent decrease from the 4,364 sales recorded in May 2017, and a 9.8 percent increase compared to April 2018 when 2,579 homes sold. Last month’s sales were 19.3 percent below the 10-year May sales average. “With fewer homes selling today … [Read more...] about Reduced demand is allowing housing supply to accumulate

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Home sales down, listings up across Metro Vancouver

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VANCOUVER, BC – May 2, 2018 – The Metro Vancouver housing market saw fewer home buyers and more home sellers in April. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,579 in April 2018, a 27.4 percent decrease from the 3,553 sales recorded in April 2017, and a 2.5 percent increase compared to March 2018 when 2,517 homes sold. Last month’s sales were 22.5 percent below the 10-year April sales average. “Market conditions … [Read more...] about Home sales down, listings up across Metro Vancouver

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Fewer home sales and listings in the first quarter of 2018

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VANCOUVER, BC – April 4, 2018 – Home buyers and sellers were less active in Metro Vancouver throughout the first quarter of 2018. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,517 in March 2018, a 29.7 percent decrease from the 3,579 sales recorded in March 2017, and a 14 percent increase compared to February 2018 when 2,207 homes sold. Last month’s sales were 23 percent below the 10-year March sales average. There were … [Read more...] about Fewer home sales and listings in the first quarter of 2018

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Home buyers were less active in February

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VANCOUVER, BC – March 2, 2018 – Metro Vancouver* home sales dipped below the long-term historical average in February. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,207 in February 2018, a nine percent decrease from the 2,424 sales recorded in February 2017, and a 21.4 percent increase compared to January 2018 when 1,818 homes sold. Last month’s sales were 14.4 percent below the 10-year February sales average. By … [Read more...] about Home buyers were less active in February

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New taxes unlikely to stabilize housing market

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Victoria, BC – February 20, 2018. The British Columbia Real Estate Association calls on government to introduce transitional rules for all transactions impacted by the new tax measures introduced in Budget 2018. The new tax measures come into effect on February 21, 2018. The Property Transfer Tax (PTT) increase to 5% for properties over $3 million, as well as the increase to 20% and expansion of the Foreign Buyer’s Tax to other parts of the province will have an immediate impact on transactions … [Read more...] about New taxes unlikely to stabilize housing market

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Home buyer demand depends on property type

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VANCOUVER, BC – February 2, 2018 – Attached and apartment homes are in demand across Metro Vancouver while detached home buyers are facing less competition today. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,818 in January 2018, a 19.4 percent increase from the 1,523 sales recorded in January 2017, and a 9.8 percent decrease compared to December 2017 when 2,016 homes sold. Last month’s sales were 7.1 percent above the … [Read more...] about Home buyer demand depends on property type

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Steady sales and diminished listings characterize 2017 for the Metro Vancouver housing market

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VANCOUVER, BC – January 3, 2018 - After reaching record levels in 2015 and 2016, Metro Vancouver home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity. The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a 9.9 percent decrease from the 39,943 sales recorded in 2016, and … [Read more...] about Steady sales and diminished listings characterize 2017 for the Metro Vancouver housing market

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Above-average demand and below-average supply

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VANCOUVER, BC – December 4, 2017 - Metro Vancouver* saw modest home listing changes and steady demand in November. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 percent increase from the 2,214 sales recorded in November 2016, and a 7.5 percent decrease compared to October 2017 when 3,022 homes sold. Last month’s sales were 17 percent above the 10-year November sales … [Read more...] about Above-average demand and below-average supply

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October sales exceed historical average

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VANCOUVER, BC – November 2, 2017 – Metro Vancouver home sales exceeded typical historical levels in October with the majority concentrated in the townhouse and apartment markets. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,022 in October 2017, a 35.3 percent increase from the 2,233 sales recorded in October 2016, and an increase of 7.1 percent compared to September 2017 when 2,821 homes sold. Last month’s sales were 15 … [Read more...] about October sales exceed historical average