Vancouver Real Estate - August 2016
In This Issue

Government of British Columbia
NEW TAX on FOREIGN BUYERS in Greater Vancouver

Sotheby's International Realty Canada
Sotheby's Impactful Marketing and Its Global Reach

Latest testimonial comments from recent clients

Real Estate Board of Greater Vancouver
REBGV July 2016 Market Update Video

Real Estate Board of Greater Vancouver - August 3rd, 2016
Metro Vancouver homes sales resembled more typical levels in July

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As you know there has been lots of talk regarding real estate lately and more particularly about the new 15% PTT tax on foreign buyers. Please see attach the exact information on this new tax.Since May 2016, the market has slowed down slightly.  As the summer months of July-August are historically slower, July sales are confirming that for detached homes, we are back into being in a more balanced market, first time since June 2015. This balanced market has taken place even before the 15% tax on foreign buyers was implemented. 
Since this tax has taken place, buyers are in a wait and see mode. Sellers are starting to decrease their price point if the property has not sold within 3 to 4 weeks. Unless the property has real special attributes, it stays on the market longer. I would expect a lower volume of transaction in the coming future. The condo and townhouse market is remaining strong at this time. 

VALUATION SKILLS, MARKETING STRATEGY AND MARKETING TOOLS WILL BECOME EVEN MORE IMPORTANT IN THIS MARKET. Sotheby's International Realty Canada outstanding Marketing resources and distribution reach will be an even bigger asset going forward. 
If you would like to discuss and understand a little more what this 15% foreign buyer's tax is about, please do not hesitate to call me.

CLICK HERE to view the latest BC Government information bulletin.
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Sotheby's International Realty Anthology
The Collection of an Extraordinary Brand

"Anthology" explores the unique characteristics that define the Sotheby's International Realty® brand. From our 269 year old distinguished heritage to spotlighting some of our global media collaborations and more, Anthology takes viewers on a journey through many of the philosophies and qualities that set our brand apart. Narrated by the senior leadership that guides our brand, Anthology is the first chapter of many more to come, all designed to help support our vision of artfully uniting extraordinary homes with extraordinary lives.

CLICK HERE to view the video on YouTube.

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nial From a Client

Anne was exceptionally knowledgeable about the Vancouver presale market and how we should go about purchasing our first rental investment. We were most impressed with her local knowledge on the Greater Vancouver area.

It was clear Anne had taken the time to research the area so that she could let us know where we should expect other new developments to rise up and distort our much sought after view, this was critical in our decision making about our real-estate agent and our property purchase.

Her market research was thorough, analyzing the property value within the current and projected market and surrounding existing presale opportunities.

Anne makes time for her client's accompanying us to multiple sales centers and she was not afraid to give her open professional opinion, even if this went against our initial assessment. She helped to ground us ensuring we purchased the first right property for our future.

She had a great rapport with all the presale reps we met. She gets our true gratefullness and full recommendation for our next real estate transaction.

Steven W.

CLICK HERE to view more testimonials.
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REBGV July 2016 Market Update Video

CLICK HERE to view the video.

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News Release - Real Estate Board of Greater Vancouver

Metro Vancouver homes sales resembled more
typical levels in July

VANCOUVER, BC – August 3th, 2016

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
the region totalled 3,226 in July 2016, a decrease of 18.9 per cent from the 3,978 sales recorded
in July 2015 and a decrease of 26.7 per cent compared to June 2016 when 4,400 homes sold.
This is the first time since January that home sales in the region have registered below 4,000 in a

“After several months of record-breaking sales activity, home buyer demand returned to more
historically normal levels in July,” Dan Morrison, REBGV president said.

Last month’s sales were 6.5 per cent above the 10-year sales average for the month.

“Home sale activity showed some moderating signs in late June and this carried into July,”
Morrison said. “We’ll wait and watch over the next few months to see if this marks the return of
more normal market trends.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,241
in July 2016. This represents a 2.5 per cent increase compared to the 5,112 units listed in July
2015 and a 10.8 per cent decrease compared to June 2016 when 5,875 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver
is 8,351, a 27.4 per cent decline compared to July 2015 (11,505) and a 6.9 per cent increase
compared to June 2016 (7,812).

The sales-to-active listings ratio for July 2016 is 38.6 per cent. Generally, analysts say that
downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while
home prices experience upward pressure when it reaches the 20 to 22 per cent range in a
particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $930,400. This represents a 32.6 per cent increase compared to July

Sales of detached properties in July 2016 reached 1,077, a decrease of 30.9 per cent from the
1,559 detached sales recorded in July 2015. The benchmark price for detached properties
increased 38 per cent from July 2015 to $1,578,300.

Sales of apartment properties reached 1,602 in July 2016, a decrease of 7.3 per cent compared to
the 1,729 sales in July 2015.The benchmark price of an apartment property increased 27.4 per
cent from July 2015 to $510,600.

Attached property sales in July 2016 totalled 547, a decrease of 20.7 per cent compared to the
690 sales in July 2015. The benchmark price of an attached unit increased 29.4 per cent from
July 2015 to $669,000

CLICK HERE to download the complete stats package.  (PDF\1.3 MB)

*Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include:
Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.
Copyright © 2016 Anne Mainwaring REALTOR, All rights reserved.

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Anne Mainwaring REALTOR · 210 - 858 Beatty Street · Vancouver, BC V6B 1C1 · Canada

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