Each month, rennie Market Intelligence produces the rennie Review, which includes the latest real estate data for Vancouver and the Lower Mainland’s housing market. In addition to presenting detailed neighborhood-level stats, the rennie Review also includes current rennie Marketing Systems projects, featured listings, client testimonials, our take on the latest market conditions, and more.
After starting the year somewhat subdued, market activity picked up through the latter half of 2017, with continued in-migration and a strong local (and provincial) economy yielding above-average levels of demand for housing. Unfortunately for buyers, resale inventory didn’t keep up with demand, falling to historic lows within the region’s multi-family segment, and driving prices up throughout Greater Vancouver. However, while benchmark prices increased for all types of homes in 2017, overall market activity may be somewhat slower coming out of the gate in 2018 in response to the recently-implemented mortgage stress test for uninsured borrowers.
I know some buyers would appreciate a slow down in markets such as Langley, where the attached market continues to drive forward at above average levels in sales and pricing.
For your reading pleasure, please click here for the January 2018 edition of the rennie Review, and jump to Page 43 for more details on the Langley condo market.
Joanne Hoekstra is a Realtor® and Sales Advisor with rennie & Associates Realty and currently part of the Tsawwassen Shores sales team. Joanne is experienced in helping buyers find their perfect community and also works with investors building their real estate portfolio. In working with Sellers, Joanne ensures the best customer service from listing through to completion of the sale. She is always on the look out for great investment opportunities. Joanne can be reached at 604-722-6645 or jhoekstra@rennie.com or follow Joanne on Facebook at www.facebook.com/jhoekstra.rennie.
