header

May 2023 Market Update

 

Over 10,800 new homes approved by Vancouver City Council in 2022

The final tally is in: 10,825 new housing units were approved by Vancouver City Council in 2022, marking a record for the second year in a row.

It is the highest total in recent decades and far exceeds the City of Vancouver's current 10-year average and the targets of the 10-year Housing Vancouver strategy between 2018 and 2027.

Housing Vancouver aims to catalyze the approval of 72,000 units over its 10-year timeline or 7,200 each year. The figure for 2022 represents a 150% achievement above the annual target.

This is also up from a total of about 8,800-unit approvals in 2021, and 7,900 in 2020.

READ MORE

 

Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Greater Victoria

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Okanagan

North Surrey

North Vancouver

Parksville / Qualicum

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

Saanich Peninsula

South Okanagan

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Vancouver Island

Victoria Core

Westshore

West Vancouver

Whistler

Spring/Summer 2023 Trends in Interior Design To Decor Like A Pro

With the arrival of the spring/summer 2023 season, it's time to start thinking about how to update your interior and exterior decor to make the most of the warmest season of the year!

This article will explore the hottest trends for interior and exterior decoration and design for the spring/summer 2023 trends season, including prints, colors, textures, and outdoor furniture.

READ MORE

 

B.C. Real Estate News

BRITISH COLUMBIA

Generation X leads buying activity in B.C.'s recreational property market: report (BIV)

It's a slow spring for B.C.'s housing market, but prices have begun inching up (Vancouver Sun)

LOWER MAINLAND

Pre-COVID home sales in Vancouver not expected to rebound until 2025 (Daily Hive)

After economy posts strong start to 2023, new data suggests slowdown has begun (Western Investor)

Average home price will not revert to pre-pandemic levels this year: CMHC (BIV)

Data points: B.C. home sales register first back-to-back monthly gain in a year (BIV)

Metro Vancouver calls for developers to pay even more (Delta Optimist)

VICTORIA & VANCOUVER ISLAND

Vancouver Island ranked as best place to buy in B.C. (BIV)

More inventory needed to supply spring demand in Greater Victoria real estate market (Saanich News)

OKANAGAN

Okanagan residential real estate sales dip by 30% year over year (Global News)

Penticton taking over from Kelowna as Okanagan real estate hotspot (kelownacapnews)

 
 

This communication is not intended to cause or induce breach of an existing agency agreement.

**Should you no longer wish to receive this communication, please reply to this email with "Unsubscribe" in the subject line.

©2023 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8