October 2016 Greater Vancouver Real Estate Market Analysis

Today we will be looking at the statistics for October 2016 and comparing them to September 2016. We will be comparing Detached homes(not including new homes) in Vancouver West, Burnaby North, Coquitlam and Maple Ridge. Since our last Statistics video for September 2016, not much has changed. The market is still trying to digest the recent changes in mortgage rules and 15% Foreign Tax. There is a big gap between sellers and buyers. Some sellers are still expecting the peak price and buyers are waiting for the prince to drop further. The only segment of the market that is still very active is lower priced apartments and townhouses. It seems the market will stay the same till Spring 2017. Right now it is a good time for the Buyers who want to upsize or downsize their home.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.