Author Topic: Vancouver real estate market drops 20% in the last year  (Read 2899 times)

Mr. Green

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lostamonkey

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Re: Vancouver real estate market drops 20% in the last year
« Reply #1 on: June 17, 2017, 04:01:10 PM »
I have a couple of comments:
-That article references prices to January 2017. Prices in Vancouver have been increasing from February 2017 to today
-It is likely that average prices was used for this study. Average prices are skewed by the luxury housing market which was dominated by foreigners. The prices in that market fell a lot while other housing prices didn't really change much.

arebelspy

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Re: Vancouver real estate market drops 20% in the last year
« Reply #2 on: June 19, 2017, 02:15:43 AM »
Interesting article.  Following!
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Missy B

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Re: Vancouver real estate market drops 20% in the last year
« Reply #3 on: June 26, 2017, 11:51:44 PM »
Well, I don't know where the article was sourcing their stats from, but I live in Vancouver and have clients all over the lower mainland and I can tell you, it's complete BS. Unless they are referencing the very high end of the market. Stuff in the middle of the market is still hot from Pitt Meadows to UBC, from Deep Cove to Tswassen.
One bedroom condos in Vancouver proper have apparently gone up at least 25% since the beginning of the year. One of my clients is attempting to buy, has been for months, and she commented that all the properties that were being listed for $400K 4 months ago are now being listed for $500K.
She has a $500k budget and the audacity to want her own insuite washer/dryer, which means that she is now priced out of most of the market in Vancouver proper. I looked at the MLS yesterday and most of what I saw was well over $500K. For 500-600 square feet. Not luxury. I found two one bedrooms for 400-ish square feet, fifty years old and never updated, shared laundry and leasehold, for just under $400 K.

9-Volt

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Re: Vancouver real estate market drops 20% in the last year
« Reply #4 on: June 30, 2017, 11:39:56 AM »
Stuff in the low end is crazy too. Just sold my condo rental in White Rock North for $280, for about 100k more than when I tried to sell it 2 years ago. My sale started a craze to list properties in the building and a bunch more sold within 2 weeks of listing.

lostamonkey

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Re: Vancouver real estate market drops 20% in the last year
« Reply #5 on: July 01, 2017, 01:06:27 AM »
Stuff in the low end is crazy too. Just sold my condo rental in White Rock North for $280, for about 100k more than when I tried to sell it 2 years ago. My sale started a craze to list properties in the building and a bunch more sold within 2 weeks of listing.

How much did you originally pay for your rental? Is White Rock North in the city of Vancouver?

rocketpj

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Re: Vancouver real estate market drops 20% in the last year
« Reply #6 on: July 06, 2017, 07:28:42 PM »
Stuff in the low end is crazy too. Just sold my condo rental in White Rock North for $280, for about 100k more than when I tried to sell it 2 years ago. My sale started a craze to list properties in the building and a bunch more sold within 2 weeks of listing.

How much did you originally pay for your rental? Is White Rock North in the city of Vancouver?

'Vancouver' is a metropolitan area of 21 separate municipalities, one of which is White Rock, another of which is the actual City of Vancouver.  If you live here it matters, anywhere else it is all just Vancouver.

lostamonkey

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Re: Vancouver real estate market drops 20% in the last year
« Reply #7 on: July 07, 2017, 10:18:04 PM »
Stuff in the low end is crazy too. Just sold my condo rental in White Rock North for $280, for about 100k more than when I tried to sell it 2 years ago. My sale started a craze to list properties in the building and a bunch more sold within 2 weeks of listing.

How much did you originally pay for your rental? Is White Rock North in the city of Vancouver?

'Vancouver' is a metropolitan area of 21 separate municipalities, one of which is White Rock, another of which is the actual City of Vancouver.  If you live here it matters, anywhere else it is all just Vancouver.


There is Vancouver city, Vancouver metropolitan area, and Vancouver island. Geez, that's complicated.