Brendan Connolly

Vancouver Real Estate: Westside, Eastside & Downtown

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

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Low supply continues to limit Metro Vancouver home buyers

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VANCOUVER, BC – March 2, 2017 – Reluctance amongst Metro Vancouver* home sellers is impacting sale and price activity throughout the region’s housing market. Residential home sales in the region totalled 2,425 in February 2017. This is a 41.9 per cent decrease from the record 4,172 homes sold in February 2016 and an increase of 59.2 per cent compared to January 2017 when 1,523 homes sold. Last month’s sales were 7.7 per cent below the 10-year February sales average. [embedyt] … [Read more...] about Low supply continues to limit Metro Vancouver home buyers

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Metro Vancouver housing market off to a quieter start than last year

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VANCOUVER, BC – February 2, 2017 – Home sales and listings trends are below long-term averages in the Metro Vancouver* housing market. This is due largely to reduced activity in the detached home market. Residential property sales in the region totalled 1,523 in January 2017, a 39.5 per cent decrease from the 2,519 sales recorded in January 2016 and an 11.1 per cent decrease compared to December 2016 when 1,714 homes sold. Last month’s sales were 10.3 per cent below our 10-year January … [Read more...] about Metro Vancouver housing market off to a quieter start than last year

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A heated year for Metro Vancouver real estate draws to a close

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VANCOUVER, BC – January 4, 2017 – The Metro Vancouver housing market had its third highest selling year on record in 2016, behind only 2015 and 2005. Sales of detached, attached and apartment properties in the region reached 39,943 in 2016, a 5.6 per cent decrease from the 42,326 sales recorded in 2015, and a 20.6 per cent increase over the 33,116 residential sales in 2014. [embedyt] http://www.youtube.com/watch?v=njfK2hYuL8c[/embedyt] “It was an eventful year for real estate in Metro … [Read more...] about A heated year for Metro Vancouver real estate draws to a close

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Home sales and listings just below 10-year average

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VANCOUVER, BC - December 2, 2016 - Home buyer and seller activity remains near historical averages in the Metro Vancouver housing market. Residential home sales in the region totalled 2,214 in November 2016, a decrease of 0.9 per cent from the 2,233 sales recorded in October 2016 and a decrease of 37.2 per cent compared to November 2015 when 3,524 homes sold. Last month’s sales were 7.6 per cent below the 10-year sales average for the month. “While 2016 has been anything but a normal year … [Read more...] about Home sales and listings just below 10-year average

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Home sale and listing activity dip below historical averages in October

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VANCOUVER, BC - November 2, 2016 - Reduced home sale and listing activity are changing market dynamics in communities across Metro Vancouver*. Residential property sales in the region totalled 2,233 in October 2016, a 38.8 per cent decrease from the 3,646 sales recorded in October 2015 and a 0.9 per cent decrease compared to September 2016 when 2,253 homes sold. Last month’s sales were 15 per cent below the 10-year October sales average. “Changing market conditions compounded by a … [Read more...] about Home sale and listing activity dip below historical averages in October

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Home buyers and sellers face changing market dynamics

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VANCOUVER, BC – October 4, 2016 - Metro Vancouver* home sales dipped below the 10-year monthly sales average last month. This is the first time this has occurred in the region since May 2014. Metro Vancouver home sales totalled 2,253 in September 2016, a decrease of 32.6 per cent from the 3,345 sales recorded in September 2015 and a decrease of 9.5 per cent compared to August 2016 when 2,489 homes sold. Last month’s sales were 9.6 per cent below the 10-year sales average for the … [Read more...] about Home buyers and sellers face changing market dynamics

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Metro Vancouver home sales return to typical August levels

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VANCOUVER, BC – September 2, 2016 – For the second straight month, home buyer demand in Metro Vancouver* moved off of the record-breaking pace seen earlier this year and returned to more typical levels. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver totalled 2,489 in August 2016, a decline of 26 per cent compared to the 3,362 sales in August 2015; 10.2 per cent less than the 2,771 sales in August 2014; and one per cent less than … [Read more...] about Metro Vancouver home sales return to typical August levels

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Additional 15% Property Transfer Tax for foreign entities

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Recent legislation providing for an additional Property Transfer Tax of 15% on residential property transfers to foreign entities in the Greater Vancouver Regional District has caught the real estate industry off guard. The retroactive tax which will be applied to contracts completing from 2 August 2016, has inadvertently affected skilled workers and those who are in the process of immigrating to Canada. Calls to exempt accepted agreements have been ignored by the government. Dan Morrison, … [Read more...] about Additional 15% Property Transfer Tax for foreign entities

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Metro Vancouver homes sales resembled more typical levels in July

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The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,226 in July 2016, a decrease of 18.9 per cent from the 3,978 sales recorded in July 2015 and a decrease of 26.7 per cent compared to June 2016 when 4,400 homes sold. This is the first time since January that home sales in the region have registered below 4,000 in a month. “After several months of record-breaking sales activity, home buyer demand returned to more historically … [Read more...] about Metro Vancouver homes sales resembled more typical levels in July