The rennie Review: April 2019

In this month's rennie Review, our Market Intelligence team looks beyond the headlines to analyse what is really happening in the Greater Vancouver Market.  Read the whole story here in the April rennie Review.  


"In diving below the surface of these high-level metrics, we see that the real ongoing story related to sales in Greater Vancouver has to do with price points: less expensive homes continue to attract demand, while the overall slowdown in sales has been driven largely by patient buyers at the high-end of the price spectrum (or those knocked down the price ladder by restrictive housing policy). 

Indeed, reports of the demise of the Greater Vancouver housing market have been greatly exaggerated, as the market for homes selling for less than $500K remains strongly favourable to sellers (as measured by its 29% sales-to-listings [S-L] ratio). Furthermore, the market for homes selling for between $500K-$1M remains balanced, reflecting a sustainable environment that serves both buyers and sellers well. Rounding out the market are price points at $1M and above: it is here that conditions favour buyers, with a S-L ratio of only 8%--thus putting downward pressure on these higher prices as buyers weigh their options. "




Joanne Hoekstra
 is a Real Estate Advisor with rennie & Associates Realty. Joanne enjoys helping buyers find their perfect community and working with new and experienced investors in building their real estate portfolios. She has successfully sold out five presale projects which included detached homes, duplexes, townhomes and condominiums.  As a listing expert, Joanne ensures the best customer service for her clients from listing through to completion of the sale and applies her marketing and sales expertise to each home.  Joanne can be reached at 604-722-6645 or jhoekstra@rennie.com or follow Joanne on Facebook at www.facebook.com/jhoekstra.rennie.

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A monthly report providing insights into sales, listings, and pricing trends throughout the Vancouver Region's housing resale market.

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RENNIE ADVISOR
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Benchmark Price Infographics for detached, townhomes, and condos in the areas of Vancouver region covered in the monthly rennie review.

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