{"id":9777,"date":"2018-07-13T11:11:19","date_gmt":"2018-07-13T18:11:19","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=9777"},"modified":"2018-07-13T08:05:50","modified_gmt":"2018-07-13T15:05:50","slug":"vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/","title":{"rendered":"Vancouver&#8217;s Luxury Home Sales Plummet 19% in First Half of 2018"},"content":{"rendered":"<p style=\"text-align: justify;\">Just like Vancouver\u2019s conventional housing market, activity in the city\u2019s luxury segment took a nosedive in the first half of 2018. And this downward trend is likely to continue through the rest of the year.<\/p>\n<p style=\"text-align: justify;\">In the first six months of 2018, Vancouver home sales over $1 million dropped 19% compared to the same period last year, according to a new report by Sotheby\u2019s International Realty Canada, published Tuesday.<\/p>\n<p style=\"text-align: justify;\">Meantime, luxury sales over $4 million saw a whopping 47% year-over-year decline during the same time period.<\/p>\n<p style=\"text-align: justify;\">Brad Henderson, President and CEO of Sotheby\u2019s International Realty Canada, tells Livabl that the findings aren\u2019t surprising as consumer confidence and market engagement waned this year, following the introduction of a federal mortgage stress test, higher interest rates and new BC housing policies.<\/p>\n<p style=\"text-align: justify;\">\u201c[T]he confluence of all those factors have contributed to the significant slowdown that we\u2019ve seen in the activity, and when I say activity I mean the number of transactions that are happening in and around the Vancouver area.\u201d<\/p>\n<p style=\"text-align: justify;\">Out of all property types, the city\u2019s top-tier single-family home market saw a significant pullback in activity from January to June 2018, compared to condos and attached homes.<\/p>\n<p style=\"text-align: justify;\">Detached sales over $1 million fell 36 per cent to 885 homes in the first six months of the year.<\/p>\n<p style=\"text-align: justify;\">Henderson attributes the decline to increased demand for condos and attached homes from a wide range of the population. With these property types being a popular choice for young professionals, downsizers and investors, Henderson says it\u2019s not unexpected that luxury detached sales are dropping.<\/p>\n<p style=\"text-align: justify;\">In the city\u2019s $1 million-plus condo market, activity remained robust as 708 homes sold in the first half of 2018, a 9% uptick from the same period last year. Meanwhile, the city\u2019s attached sales over $1 million saw a 3% year-over-year decline with 346 homes sold from January to June 2018.<\/p>\n<p style=\"text-align: justify;\">As for the rest of 2018, Henderson predicts that the City of Vancouver\u2019s luxury market will continue to spiral downward.<\/p>\n<p style=\"text-align: justify;\">\u201cVancouver\u2019s luxury market is going to continue much the way that it has over the last little while. I think there\u2019s going to be continued interest in the condominium market and the attached home market. The real challenge with the detached or single-family home market is that more and more of those people are sitting on the sidelines, trying to decide which [the market] is going,\u201d says Henderson.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/07\/vancouvers-luxury-sales-19-per-cent-2018.html\" target=\"_blank\" rel=\"noopener\">Vancouver&#8217;s Luxury Home Sales Plummet 19% in First Half of 2018<\/a> by Kerrisa Wilson | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just like Vancouver\u2019s conventional housing market, activity in the city\u2019s luxury segment took a nosedive in the first half of 2018. And this downward trend is likely to continue through &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/\">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],"tags":[],"class_list":["post-9777","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vancouver&#039;s Luxury Home Sales Plummet 19% in First Half of 2018 &#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\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver&#039;s Luxury Home Sales Plummet 19% in First Half of 2018 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Just like Vancouver\u2019s conventional housing market, activity in the city\u2019s luxury segment took a nosedive in the first half of 2018. And this downward trend is likely to continue through &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/07\\\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/07\\\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Vancouver&#8217;s Luxury Home Sales Plummet 19% in First Half of 2018\",\"datePublished\":\"2018-07-13T18:11:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/07\\\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\\\/\"},\"wordCount\":417,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/07\\\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/07\\\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/07\\\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\\\/\",\"name\":\"Vancouver's Luxury Home Sales Plummet 19% in First Half of 2018 &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2018-07-13T18:11:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/07\\\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/07\\\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/07\\\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vancouver&#8217;s Luxury Home Sales Plummet 19% in First Half of 2018\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Vancouver's Luxury Home Sales Plummet 19% in First Half of 2018 &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/","twitter_card":"summary_large_image","twitter_title":"Vancouver's Luxury Home Sales Plummet 19% in First Half of 2018 &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Just like Vancouver\u2019s conventional housing market, activity in the city\u2019s luxury segment took a nosedive in the first half of 2018. And this downward trend is likely to continue through &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Vancouver&#8217;s Luxury Home Sales Plummet 19% in First Half of 2018","datePublished":"2018-07-13T18:11:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/"},"wordCount":417,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/","url":"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/","name":"Vancouver's Luxury Home Sales Plummet 19% in First Half of 2018 &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2018-07-13T18:11:19+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2018\/07\/vancouvers-luxury-home-sales-plummet-19-in-first-half-of-2018\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Vancouver&#8217;s Luxury Home Sales Plummet 19% in First Half of 2018"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/9777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=9777"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/9777\/revisions"}],"predecessor-version":[{"id":9778,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/9777\/revisions\/9778"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=9777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=9777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=9777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}