"There is always a ray of light at the end of every dark tunnel." Tink Positive signs emerge as buyers’ market strengthens Highlights of the October Report Lowest benchmark home price: New Westminster at $809,800 Highest number of Greater Vancouver sales since June 2022 Benchmark home price is down 9.2% from six months ago North [...]
"It was the best of times, it was the worst of times" Charles Dickens The worst of times; the best of times in the Metro Vancouver housing market Highlights of the September Report Five markets have composite home prices under $1 million Home prices down for the sixth month in a row Detached housing now [...]
"Believe and act as if it were impossible to fail." Charles F. Kettering New listings, housing starts flirt with record lows in August Highlights of the August Report Total new listings in August the lowest in more than 28 years Ladner townhouses and condos fall to 1-month supply At least six major condo projects have [...]
"Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy." Dale Carnegie Homebuyers, investors take advantage in this market Highlights of the July Report Average 5-year mortgage rates are up just 1.4% from six months ago. [...]
"On the other side of a storm is the strength that comes from having navigated through it. Raise your sail and begin." Gregory S. Williams Buyer’s emerging with a market advantage Highlights of the June Report Biggest drop in month-over-month house price Port Coquitlam down 5.9% Biggest increase in month-over-month house price: West Vancouver, up [...]
"Life is a succession of lessons which must be lived to be understood." Ralph Waldo Emerson Faith Trumps Fear in This Market Cycle Highlights of the May Report • Is a buyer’s market looming in Metro Vancouver? • Vancouver detached house sales down 42% year-over-year • Fraser Valley sales drop 54% from a year earlier [...]
"Become a student of change. It is the only thing that will remain constant." Anthony J. Welcome back to a balanced market. Don’t be afraid Highlights of the April Report • Immigration at record high; housing starts down 41% • April housing sales down 34% from a year earlier • Price resistance as detached house [...]
"You may delay, but time will not." Benjamin Franklin This housing cycle is ending. What’s next? The sales super cycle that the Metro Vancouver housing market has been in for two years is ending. It is nearly over in Fraser Valley, where March sales were down 22.5% from a year earlier and average prices dropped [...]
"Every choice you make has an end result." Zig Ziglar February signals March will come in like a lion Highlights of this Greater Vancouver report Biggest year-to-year detached price increase: Pitt Meadows, up 40.4% Why a ‘cooling-off period’ would mean market chaos Month-over-month home price increase forecast during 2022: $9,000 Month-over-month home price increase from [...]
"If you have the courage to begin, you have the courage to succeed." David Viscott So you need to buy a home. Now is a good time to do so. There have always been challenges purchasing in one of the most expensive housing markets on the planet. It is still possible, though, to find the [...]
"Don’t wish it were easier. Wish you were better." Jim Rohn Brace for an interesting year in the housing market As the Metro Vancouver housing market comes off a record sales year, we are entering what could be the most interesting 12 months this region has ever seen. The term ‘interesting’ can be seen in [...]
"Courage is found in unlikely places." J.R.R. Tolkien Condos alone can’t meet buyer demand Sales of condominium apartments accounted for 53 per cent of all housing sales in Greater Vancouver in November 2021, with a 33.3% surge in transactions compared to November of 2020, but the record-setting sales pace may underline desperation in the market. [...]
"In a gentle way, you can shake the world." Mahatma Gandhi Suburban safety valves close as prices rise in step The shocking shortage of homes for sale across Metro Vancouver has had the unsettling effects of levelling residential prices and stunting supply from Burrard Inlet to well south of the Fraser River. The suburban safety [...]
"Effort only fully releases its reward after a person refuses to quit." Napoleon Hill Election over but the effects will linger in Metro Vancouver The federal election is over and those who think nothing has changed should prepare themselves for some of the most intrusive legislation ever into the private-sector housing market. It has never [...]
"Between saying and doing, many a pair of shoes is worn out." Iris Murdoch Townhouse sector exposes razor-thin housing supply We are in the heat of a hastily-called federal election and housing is the central platform of the major parties, all of which say they will make housing more affordable for the so-called ‘missing middle’, [...]
"Believe you can and you’re halfway there." Theodore Roosevelt Reality of housing shortage exposed in July Sometimes you just have to shake your head at the reports we read about the Greater Vancouver housing market. Such as quotes from regional politicians about how much they care about making homes more affordable while continuing to restrict [...]
"We can't help everyone, but everyone can help someone." Satchel Paige Balanced market seen holding this summer June housing sales in Greater Vancouver were down 11.4% from May to the lowest level since January this year as the market wilted in the record-setting heat. Yet, with 3,842 transactions in the month, it remained the eighth-highest [...]
May home sales: $11 million an hour, 24 hours a day “Don’t look back. Something might be gaining on you.” Satchel Paige Like the weather itself in May, the Greater Vancouver housing market was unseasonably hot but with subtle signals of cooling. May marked the second consecutive month with sales declining in absolute numbers from [...]
April brings a shower of new listings With more than 10,000 homes for sale, fear of missing out eases “There are no shortcuts to any place worth going.” Beverly Sills The incredible boomerang in the Metro Vancouver housing market was never more apparent than this April, as total housing sales bounced back from the lowest [...]
Potential Immigration the wild card in Metro housing market “We cannot solve our problems with the same thinking we used when we created them.” Albert Einstein March housing sales skyrocketed more than 126% higher than in March 2020 – the month the COVID-19 pandemic began – to the highest monthly sales pace ever recorded in [...]
February 2021: Watch for the rise of the strata market February is traditionally a ho-hum period in residential real estate but this year, as with so much of the recent Metro Vancouver market, this February proved exceptional. Housing sales hit the highest monthly level since June 2017, with prices arcing nearly 9% higher than a [...]
Welcome to January 2021 – please fasten your seat belts Some will express surprise that, as we enter the second year of a global pandemic, the rush to purchase homes in Greater Vancouver continues the startling sales pace seen in 2020. But there is a simple reason for the January surge: price appreciation as accelerating [...]
January 20, 2021 was a very good day… The day started with the hope that some sanity will prevail with our neighbours to the south. The US Presidential Inauguration marked an optimistic start to a new path for this world leading economy and Canada as their closest ally. Following that, we attended the virtual UDI […]
"There’s nowhere you can be that isn’t where you’re meant to be...” John Lennon Last year I started this report with John Lennon’s lyrics about the new year and hoping it was a good one… Well, the real estate market came alive, but a global pandemic isn’t what anyone would call a good year. In [...]
"Character is much easier kept than recovered.” Thomas Paine This is no longer a comeback! This is a real estate market making its own way into 2021. This is well beyond pent up demand and more like a surge of moves being made for a variety of reasons. Those buying and selling have had more [...]
For third generation Vancouverite Nick Moroso, a career in real estate more than made sense—it formed the next piece of his family’s history with Vancouver properties When we set out to learn more about Nick Moroso, we had no idea of his long history with Vancouver and his deep love for the city. Oh, we [...]
"It’s not the load that breaks you down, it’s the way you carry it.” Lou Holtz We made it through Halloween in the year 2020 - with a full moon, endless fireworks and turning back the clocks and with all that it was the real estate market that was the least scary in all this. [...]
“It is always wise to look ahead, but difficult to look further than you can see.” Winston Churchill The resale housing market is helping to lead us out of the Great Suppression – now who would have thought that would be the case when we dived into the dark days back in March. Certainly not CMHC [...]
“A tiny change today brings a dramatically different tomorrow.” Richard Bach There seemed to be more competition in the real estate market than in the National Hockey League this August – who ever thought that would be a comparison for this time of year. If we thought competing offers were a constant in July, after a [...]
“Hope will never be silent.” Harvey Milk Is this the real life? or is this just fantasy? Caught in a landslide, no escape from reality? The lyrics fit well right now. After seeing real estate sales in July be the highest in three years, the questions have been bouncing around as to whether this is [...]
"A little consideration, a little thought for others, makes all the difference.” – Eeyore We have moved into Phase 3 of the British Columbia COVID-19 Restart Plan which will allow for more businesses to open up, movement around the province and improvement in economic conditions. In looking at home sales in June, the real estate market [...]
"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who [...]
When Kastro Vafaei made the leap from personal training to real estate, he knew he’d landed in the right place. It’s no surprise that Kastro, an agent known for his kind nature and way of treating everyone like family, found his home with Dexter Realty. He also found success. By Kastro’s second month of being [...]
While we want to be humble in difficult times, all our team at Dexter Realty appreciates what it takes to succeed. We want to take a moment and congratulate our agents who had an outstanding year in 2019—one of the toughest years on record. Once a year we recognize those agents who, in the preceding [...]
"It's not whether you get knocked down, it's whether you get up.” – Vince Lombardi We will get back up! Considering the extent of lock down, the momentum of what March started certainly carried over into April. While sales were down and new listings were down, there was still participation in the market as Realtors found [...]
At Dexter, we know the value of taking the long view. Now is the time to take a step back, and use your time to advantage. During these times of uncertainty, our many hours spent in our homes might be challenging, but they’re also an opportunity to work on those many items you can’t ever [...]
From sourdough starters to spring cleaning, there are a lot of isolation living tips flying around. Here’s a list we think offers something for everyone. During these times of uncertainty, our many hours spent in our homes might be challenging, but they’re also an opportunity to take a step back and use what time we [...]
"Our patience will achieve more than our force” – Edmund Burke Where to begin. This month’s numbers for Greater Vancouver real estate are a tale of what could have been, not so much what will be. The way sales on a given day are counted by the Real Estate Board of Greater Vancouver are by looking [...]
"You can never plan the future by the past.” – Edmund Burke Average is the new up! Vancouver prices have gone up and will rise even more. What seemed like a very exuberant real estate market in Greater Vancouver in February produced an average volume of sales. With multiple offers a consistent theme, less so with [...]
After thirty years as a successful solo agent, Marilou Appleby changed tracks and formed a team with her son, Louis, and his husband, Sean. Dexter Realty is known for putting their agents first—so it’s no surprise they’ve entrusted us, their in-house Design Team, with the enjoyable mission of featuring their remarkable agents and teams, and […]
“You may delay, but time will not” – Benjamin Franklin No new supply! That seems to be the cry of government and the opinion of some regarding Metro Vancouver real estate. Let’s talk about what effect this actually has on the market when supply isn’t part of the equation in dealing with the dynamics of [...]
“You must be in tune with the times and prepared to break with tradition.” – James Agee In the immortal words of John Lennon – “another year over, and a new one just begun… Let’s hope it’s a good one.” For the third straight year, real estate sales in Metro Vancouver suffered through a collection [...]
President David Peerless offers a brief, expert summary of the past year and what the coming year holds. 1) Due to uncertainty caused by aggressive taxation of Real Estate in BC, tightening of financing (Stress test), and a naturally cooling market, 2018-2019 resulted in the slowest two years in the Vancouver Real Estate marketplace since [...]
"You are the sky, everything else is just the weather” – Pema Chodron Is this an early present for the Greater Vancouver real estate market? With a continuing free fall in the number of active listings and the number of home sales continuing to be on the rise, perhaps the Grinch hasn’t actually stolen all [...]
Is housing supply really an issue? Dexter's own Chief Economist, Kevin Skipworth, speaks with host Stuart McNish of Housing Matters: The Vancouver Real Estate Show about what is actually happening in Metro Vancouver's real estate market. With all the numbers at his fingertips, Kevin dives into the issues and offers an honest opinion on what's [...]
"People who throw mud lose ground” – Jim Beatty Average is the new up! And above average could be the start of a new trend in Greater Vancouver real estate. Attached are the Sales and Listings Statistics updated to the end of October 2019. This October in the Greater Vancouver real estate market saw a [...]
While there’s lots of explanations for why our agents love working at our Yaletown office, we’re sharing four of our top reasons. One of the greatest joys of working in real estate is setting your own schedule—and often that means spending your time at a home office. Why bother with traffic jams, when you can […]
While there’s lots of reasons our agents love working at our South Granville office, we’re sharing our top four. One of the greatest joys of working in real estate is setting your own schedule—and often that means spending your time at a home office. Why bother with traffic jams, when you can enjoy the benefits […]
"Success isn’t just about what you accomplish in your life; it’s about what you inspire others to do” – Maria Morris Attached are the Sales and Listings Stats updated to the end of September 2019. Back to school, back to selling. The number of sales in September were up from August, a rare occurrence going [...]
"Be You. Bravely and unapologetically” – Anonymous Attached are the Sales and Listings Stats updated to the end of August 2019. Considering August is traditionally one of the slower months for real estate sales, this August was more active than anticipated. On the supply side, the number of new listings and active listings were down [...]
Why sixteen agents from Dexter Realty strapped on their helmets, picked up their bikes and set out on a 225-260 kilometer journey to conquer cancer. As a brokerage, Dexter Realty works hard to set a standard for supporting our Lower Mainland communities and doing our part, especially when it comes to those causes closest to […]
VANCOUVER, August 13, 2019/Kevin Skipworth, Chief Economist at Dexter Realty, publishes his latest fact-based real estate report as featured in the Province on August 12 2019. Think back when we were young and it was convenient to hide under the covers because there was a monster in the closet… reality wasn’t convenient nor logical. Much […]
"When you are living the best version of yourself, you inspire others to live the best versions of themselves.” - Steve Maraboli Attached are the Sales and Listings Stats updated to the end of July 2019. It’s down, it’s up, it’s down, it’s up… We wouldn’t expect anything less from the Metro Vancouver real estate market. After [...]
Why Kevin Skipworth moved mountains (or at least hotel bookings and catering) to bring the Ninja Installation to Vancouver When Kevin Skipworth, one of Dexter’s Partners/Managing Brokers and our resident Chief Economist, heard about a valuable course from Dexter’s network of brokerages, he had to know more. It wasn’t just one person, a couple of [...]
"If you realized how powerful your thoughts are, you would never think a negative thought.” —Pearce Pilgrim Attached are the Sales and Listings Stats updated to the end of June 2019. While the story might be that sales in June have dropped off from May, the market is back in decline—the actual fact is June [...]
The Metro Vancouver resale real estate market is primed for a comeback! Never have we seen the market with sales and listings numbers like we are experiencing right now. Even with monthly sales below that of a typical May and the 10-year average, fundamentals shown by new and active listing counts that there is significant […]
“If you want to change, expand your mind. Old ways don’t open new doors.” —Kristen Butler Before we get to the stats, I have one request for all the work that goes into producing this report. For the eighth time, I’m taking part in the Ride To Conquer Cancer and looking to raise $7,500 as [...]
Sometimes making a difference means pitching in and picking up some trash. As Greater Vancouver’s proudly independent brokerage, we consider it our pleasure to do our part for our beautiful city. And we’re happy to put a sunny Saturday where our mouth is! On May 11th a group of thirty Dexter agents and friends—along with […]
Why President David Peerless is putting his pedals to the metal to conquer cancer, and how you can help. At Dexter Realty, we’ve got a long history of supporting our communities and our agents, working to do our part to improve everyone’s lives. And our Managing Brokers are always ready to lead the charge. President [...]
"It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so." – Mark Twain Not much is changing in the market in relation to sales numbers, we are seeing the total number of homes sold consistently below 2,000 since July of 2018. But on a [...]
We keep great company At Dexter, we’re proud to say we have the most dedicated, empathetic and motivated agents in the Lower Mainland. Once a year we celebrate those who deserve recognition for their outstanding efforts—those agents who, in the preceding calendar year, exemplified the highest standards of work ethic, skill, and focused effort, in [...]
How did a simple idea to showcase Dexter’s new brand and new South Granville location turn into umbrellas and standing outside on the coldest, wettest day in December? Take one new logo When it came to creating the first items bearing the new Dexter logo, there were lots of ideas on the table. But we [...]
"Your big opportunity may be right where you are now" – Napoleon Hill Ok, next! Let’s just move on to April! But for those looking for a recap, there were 1,743 sales in Greater Vancouver in March 2019, the lowest total for the month of March since 1986. So here is what we know; it [...]
"Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing it is stupid" – Albert Einstein The NDP Government announced their budget in February and in the immortal words of George H. W. Bush – “No New Taxes!” After last years [...]
“Look at everything as though you were seeing it either for the first or last time.” – Betty Smith New Year, a similar mentality to start the year with a wait and see attitude in the market with both buyers and sellers. But the feeling is one of some growth of opportunity in the market [...]
“If you fell down yesterday, stand up today.” – H.G. Wells As we reflect on 2018, it was certainly the year of intervention into the real estate market. What we thought was intervention in the previous two years, became a race this year to add as many variables as possible to “create affordability.” Attached are [...]
What’s clear for 2018 so far, it is a year of change, in all things real estate and all things related to real estate. There were 1,633 homes sold of all types in Greater Vancouver in November this year compared with 2,831 sales in November last year and 2,255 homes sold in November 2016. This [...]
