Candice Johnson - Vancouver Real Estate

03/04/2022

Although February is a shorter month, we saw the real estate market pick up somewhat. There was an increase in new listings and sales activity from January 2022.

5,471 new listings = 31.2% increase
3,424 sales = 49.8% increase

It is good to see more inventory coming to the market however the Vancouver housing market still remains significantly undersupplied, which is pushing home prices to new highs month after month.

As we head into spring we are seeing more historically typical home sale activity and hope this will continue as we head into the busiest season of the year.

If you’d like more detailed market information, I can add you to my monthly mailer. Give me a shout.

02/06/2022

Whether you follow the real estate market closely or not, I think we all have a sense of what is going on right now…there is a major lack of supply….

January saw less than half the listing inventory that would be optimal to begin the year. As a result, hopeful home buyers have limited choice in the market today. This continued trend is causing fierce competition for a scarce number of homes for sale, which, in turn, does what?? Increases prices.

What is mind blowing is that the Sales to Active Ratio (sales divided by the number of active listings) for all property types is 40.3%. Generally downward pressure on home sales occurs when the ratio dips below 12%. Meaning we are far off from any relief at this stage.

I don’t want this to scare you, more importantly it means that if you are a buyer in this current market you need to be competitive. You need to have your ducks in a row and be sure to have a good realtor by your side who can help you navigate through the wild Wild West that is Vancouver Real Estate Market.

01/07/2022

Taking a quick look back at last year, we saw record breaking sales with a total of 43,999 residential sales. To put this into perspective I have included some numbers

2021 sales saw a
42.2% increase from 2020
73.6% increase from 2019
4% increase over the previous all time sales recorded in 2015

Homes has been a focus for residents throughout the pandemic. With low interest rates, increased household savings and more flexible work arrangements. However home listing activity didn’t keep up with the record demand in 2021, which caused home prices to rise considerably over the course of the year.

As expected during the holiday season we saw a reduction in sales as people shifted their focus to time with the family or travelling. As we start the New Year supply is still low, however we hope to this this shift as we move into the year.

If you have any questions regarding the Vancouver real estate market, shoot me a message.

01/04/2022

2022 Property Assessments are out!! You can go view them at bcassessment.ca

Please note, the assessments were completed on July 1st, 2021. They may not represent the current value of your home.

If you’re interested to know what your property’s current market value is, message me today!

BC Assessment provides current actual value assessments for tax purposes on all properties in British Columbia and provides expertise in real estate data, mass appraisal systems and management.

12/16/2021

Possession day for my beautiful friend!! 🔑

12/05/2021

HELLO DECEMBER!!

Heading into the holidays and not much has changed in regards to supply. However this hasn’t stopped buyers who are continuing to be super active. Sales increasing by 1.9% from last month.

The biggest change is in the Condo market with 33.3% increase in sales since this time last year. We put this down to an uptick in first time buyers who were hesitant during covid, now feeling more comfortable getting onto the property ladder.

If you want to hear more, DM me and I can add you to my monthly market outlook.

12/04/2021

Earlier this week our team went away for a couple days to Sunshine Coast. 🌊

We spent time working on our 2022 goals, planning our client events and chatted about where we see the team going in the future. 🤩

It is great to be part of such a dynamic, ambitious and cohesive group. One that also knows how to have fun. 💃🏼

We definitely ate way too much, laughed until our stomachs hurt and learnt who has the best drawing skills in a game of Pictionary. 😆

Never a dull moment. 🤪

I couldn’t ask for a greater bunch of people to work with in this somewhat lonely industry!! 😍

Team Archibald Rocks! 🤘🏻

11/12/2021

Thanks for the shoutout team! So happy for both my clients! It’s been a great week 🤩

Candice Appreciation Post!!

This week, our newest agent, Candice helped TWO first-time buyers successfully find their dream homes in Kits & East Van!

Being in the entry level price range is never an easy feat, especially in the current market where supply is low and prices are continuously rising.

Luckily, Candice was able to find both her buyer’s properties that were within their budget and met all the criteria on their wishlists.

Keep up the great work Candice! We look forward to more happy buyers!

Candice Jodi Johnson

11/05/2021

The BC government announced they will introduce new legislation that requires cooling off periods for resale properties and newly built homes.

To better protect consumers in B.C.’s real estate market, the Province is introducing legislation that requires cooling off periods for resale properties and newly built homes.

11/03/2021

What is going on in the real estate market I hear you ask..?

Well .. sales activity continues to be high despite the fact that supply has dipped to levels not seen in 3 years.

Although supply is low, demand is still very high, which is causing home prices to continue to edge up across the region.

Good news is out of the 3 property types, condos saw the lowest price increase at 9.5% from Oct 2020. The benchmark price is currently at $746,400. 🤩

With rising fixed mortgage rates on the horizon this should help ease demand somewhat.

If you are wondering whether it is a good time to buy or sell, give me a call. Happy to chat.