{"id":26193,"date":"2025-07-29T11:11:35","date_gmt":"2025-07-29T18:11:35","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=26193"},"modified":"2025-07-28T15:10:23","modified_gmt":"2025-07-28T22:10:23","slug":"detached-homes-becoming-more-attainable-in-greater-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/07\/detached-homes-becoming-more-attainable-in-greater-vancouver\/","title":{"rendered":"Detached Homes Becoming More Attainable in Greater Vancouver"},"content":{"rendered":"<p style=\"text-align: justify;\">A sluggish spring market has extended into the summer, as many potential homebuyers in Greater Vancouver hold out for better deals and lower interest rates, says one expert.<\/p>\n<p style=\"text-align: justify;\">\u201cIf they don\u2019t have to move\u2014so say they haven\u2019t sold their home and must buy something\u2014they\u2019re taking the summer off. They are out there enjoying the sunshine,\u201d said Tim Hill of Tim Hill &amp; Associates, Re\/Max All Points Realty.<\/p>\n<p style=\"text-align: justify;\">This is despite detached homes becoming more attainable in today\u2019s conditions, he said.<\/p>\n<p style=\"text-align: justify;\">\u201cThe gaps are really good if you\u2019re going from, say, a townhome to a detached house right now. If you throw a suite in there to offset your mortgage payments, in some cases you might actually be ahead,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">There were 3,273 detached home sales in Greater Vancouver in the first half of 2025, the lowest level in 10 years and 39% below the 10-year average, according to a Thursday report from Re\/Max Canada.<\/p>\n<p style=\"text-align: justify;\">Market share for the detached housing segment has also declined since 2021, falling to its lowest level in the first half of this year at 27.3%. At its highest point in 2016, detached homes represented 40.1% of total residential sales in Greater Vancouver, the Re\/Max report said.<\/p>\n<p style=\"text-align: justify;\">Even if the Bank of Canada cuts its key interest rate at its next announcement on July 30, Hill suggested it may not provide much of a boost.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019re in a summer lull, so I don\u2019t think if we had a 0.25 drop that it would ignite anything in the month of August anyhow,\u201d he said, adding that luxury homes bought with cash are less sensitive to rates.<\/p>\n<p style=\"text-align: justify;\">The July 24 Re\/Max report identified five regional markets where there has been an uptick in detached home sales and median prices: Sunshine Coast, Squamish, Port Moody\/Belcarra, Gulf Islands and Bowen Island.<\/p>\n<p style=\"text-align: justify;\">Hill said not to read too much into these outliers, whose performance can be affected in either direction by just a handful of sales in a short period, he said.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, buyers are adapting to the tepid market by increasingly making offers with \u201csubject to sale\u201d clauses, Hill said.<\/p>\n<p style=\"text-align: justify;\">\u201cThey happen in between markets, when they are not fully going down and not fully going up ..\u2026 almost like no man\u2019s land\u201d he said.<\/p>\n<p style=\"text-align: justify;\">Subject to sale clauses generally contain a trigger, he said. If the seller receives a second offer, the first buyer must remove their conditions and purchase within 24 to 72 hours, or else walk away so the seller can accept the second offer.<\/p>\n<p style=\"text-align: justify;\">This tool allows buyers who need equity from their existing home to mitigate the risk of being unable to sell it. It also helps sellers with stagnant listings attract more potential purchasers, Hill said.<\/p>\n<p style=\"text-align: justify;\">\u201cWhen you are in a lower-selling market, that could be your only buyer in three to four months, so it\u2019s really risky to say no to them,\u201d he said, noting that buyers may also be willing to pay a premium for the added certainty.<\/p>\n<p style=\"text-align: justify;\">Hill said he hopes the Greater Vancouver market rebounds after the back-to-school season in September.<\/p>\n<p style=\"text-align: justify;\">\u201cIt\u2019s kind of like a train trying to get going, but when it gets going it just sort of seems to keep slowing back down again,\u201d he said.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.biv.com\/news\/real-estate\/greater-vancouver-homebuyers-taking-the-summer-off-in-tepid-market-10984258\" target=\"_blank\" rel=\"noopener\">Greater Vancouver Homebuyers &#8220;Taking The Summer Off&#8221; in Tepid Market<\/a> by Jami Makan | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A sluggish spring market has extended into the summer, as many potential homebuyers in Greater Vancouver hold out for better deals and lower interest rates, says one expert. \u201cIf they &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/07\/detached-homes-becoming-more-attainable-in-greater-vancouver\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-26193","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Detached Homes Becoming More Attainable in Greater Vancouver &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2025\/07\/detached-homes-becoming-more-attainable-in-greater-vancouver\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Detached Homes Becoming More Attainable in Greater Vancouver &#8226; 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