Monthly Metro Vancouver Real Estate Market Update - June 2023 (MAy Numbers)

The latest metro Vancouver real estate market update

Vancouver housing prices are going up! But for how long? 

Whether you are buying or selling, it's important to understand what's going on in the market. Each month I release a real estate market highlight video for metro Vancouver to keep you informed and updated.

In each video I go over, detached homes, townhouses, and condos, and how they have been flow with the market throughout the year. I'll also tell you what type of market, each one of those falls into and how you can distinguish that.

Remember… Everyone's situation is specific to them. If you're looking to buy, and the type of property is not in a "buyers market" that just means we have to change strategy not outcome. That goes for selling as well.

Feel free to reach out at any point if you have any questions.


A special solution? To the Vancouver, housing crisis.

Why on earth are there so many Vancouver specials? If you've seen one you've seen 1000. What does a Vancouver special have to do with our Vancouver’s housing crisis? 
If  are a Vancouverite and you don’t know who Uytae Lee is, you’re missing out! In this video Uytae breaks Vancouver special, and what it has to do with the Vancouver housing crisis…

“From the 1960s to the 1980s, one specific house was constructed in Vancouver over 10,000 times. Known today as the Vancouver Special, these houses could offer solutions to the current housing crises in cities across Canada. ‘Stories About Here’ explores the urban planning challenges that communities across Canada face today. In each episode we dig into the often overlooked issues in our own backyards - whether it’s the shortage of public bathrooms, sewage leaking into the water, or the bureaucratic roots of the housing crisis. Through it all, we hope to inspire people to become better informed and engaged members of their communities.” CBC Vancouver youtube

Supply and demand. Low supply in high demand drives up price. I've had this conversation with many people, and almost, regardless of how we look at it we have a low supply of housing in Vancouver. This means housing that is available for long-term rent or purchase. They're just simply isn't enough for the demand. And the demand grows every year, but the housing supply seems to lag behind. Vancouver special was a unique solution to this problem 60 years ago but, as Uytae Lee explains, people want a solution, but often don't want to have to change anything about their lives for it to be implemented. Give me wrong! If you are lucky enough to own, or live in a Single family home of course there's a good reason a good argument to not want a 30 story condo building right next door. But refusing the zoning changes, refusing, multifamily homes, is to refuse the very solution. There's so much red tape now to building, rezoning, and densifying that the costs are skyrocketing. On average a Vancouver home almost doubles in price every 10 years for the last 20 years… Thats insane! 

I think we all need to help find solutions and suggest to our regulatory bodies to push those forward. We need more homes, we need more non-market housing and we need them faster.


Metro Vancouver real estate market update, April 2023

This is the April 2023 metro Vancouver real estate market update. I will be going over to Vancouver real estate market numbers provided by the the real estate board of greater Vancouver. Whether you're buying or selling or just curious, this is a great way to stay in touch with what's happening month-to-month in the real estate market here in Vancouver. I'll talk about the individual numbers for condos, townhouses, detached homes will go over the active listings, sales, benchmark price, as well as average days on market. And this video a break down what is a sales to active listing ratio and how you can use it to determine what kind of market condos, town, houses, detached homes may be in.

If you have any questions whatsoever, please feel free to reach out to me here! Or on anyone of my social media tags which I have listed below. Also, if you're curious as to what is out there, feel free to take a look at my website, you can save searches, say favourites reach out to me whenever you need. Or, check out my Vancouver property tours on Instagram, TikTok, YouTube, or Facebook. You can find them by searching #TouringWithTyler

And here is the link to the real estate board of greater Vancouver's market update you can follow this and check out the numbers for yourself.

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.