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Condos, townhomes in high demand - real estate board says! But most Canadians Cant Afford to Eat ?

487 views · Published 4 February 2018 · 4:22 · Indexed 6 November 2026

Channel: Mike Martins · 2018 · News & Politics

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The Real Estate Board of Greater Vancouver reports that demand for condominiums and townhomes in the region remains high, but not as much for detached properties. In January, 1,818 homes were sold, a 19.4% increase from the previous year but a 9.8% decrease from December 2017. Condo and townhome sales were above the 10-year January average by 14.3% and 31.6%, respectively, while detached homes were 24.8% below the average. The board also noted that the sales-to-active listings ratio for condos was 57.2%, for townhouses it was 32.8% and for detached properties it was 11.6%. A ratio below 12% for a sustained period indicates potential downward pressure on prices, while a ratio above 20% for several months suggests upward pressure.

The market for properties in the area is seeing an increase in demand and a shortage of available listings. The composite benchmark price for all types of properties was $1,056,500 in January, a 16.6% increase from the previous year and a 0.6% increase from the previous month. Detached homes saw a 8.3% increase in the benchmark price at $1,601,500, while condos saw a 27.4% increase at $665,400 and townhomes saw a 17.5% increase at $803,700. The president of the local real estate board states that while buyers of attached homes and condos are facing high competition and limited options, those looking for detached homes have more options and less competition.

majority of people try to they could re they could refinance but if they want to upgrade to bigger they can't because the mortgage stress test is cutting them out now what's happening people now with that and interest rates going up another few more another couple of percentage points part percentage points or quarter percentage points in this year and a couple of more do in this summer and fall what is happening who are buying these properties why are properties becoming so lucrative anyways I want to know what you guys think in the comments below I read the article I read it completely so there's nothing missing from this I want to know what you guys think this is beyond beyond beyond beyond what anyone could imagine why is he still going up with a majority of Canadians Canadian proper that cannot even pass the stress test or upgrade or have a trouble buying if they sell let me know in your comments below thanks for watching

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