I have listed a new property at 1602 651 NOOTKA WAY in Port Moody.
Wonderful location for this 2 bedroom home. You will love this walkable neighbourhood that is close to everything! Nicely updated with vinyl plank flooring and designer paint. Kitchen with stainless steel appliances including a gas stove, granite counters, subway tile & breakfast bar. Great open floor plan with the bedrooms on either side of the condo for privacy. Resort style Canoe Club has all your amenities including an outdoor pool, tennis courts, fitness centre and lounge. Close to Rocky Point Park, Inlet trails, Brewers Row, shopping and skytrain station.
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I have sold a property at 40 19452 FRASER WAY in Pitt Meadows.
This property is immaculate! You will think that you are stepping into the show home. Located in the sought after Shoreline complex, you will love all the updates & attention to detail. Unique layout has an upper 3rd flr or "Crowsnest" that is perfect for your office & has a sitting area with a cozy fireplace & peek-a-boo river view. Updated flooring throughout the home include engineered hardwood & carpet in the bedrooms. Kitchen is perfect for entertaining:large island, white shaker style cabinetry, new stainless steel appliances incl gas stove & adjacent family room with access to the large private patio with gazebo. Up are 3 bedrooms, lavish master w/ martini deck, 5 piece ensuite & walk-in closet. Fresh paint, crown moulding, custom garage floor, new W&D. This home will go quickly!
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I have listed a new property at 19 3295 SUNNYSIDE RD in Anmore.
Countryside Village is at the doorstep of Buntzen Lake Recreation Area in sought after Anmore. You have the opportunity to build your dream home or use this as your weekend retreat. This pie shaped flat lot backs onto green space with a creek meandering through. The cozy 2 bedroom manufactured home has a wood burning pot belly stove and a claw foot bathtub to luxuriate in. Minutes to Anmore Elementary and Eagle Mountain Middle schools. Close to shopping and amenities in Port Moody. Buntzen Lake offers hiking trails, swimming & picnic areas, small boat launch, a dog park and breathtaking mountain views.
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I have listed a new property at 3825 DUNDAS ST in Burnaby.
Exceptional Vancouver Heights neighbourhood of immaculate properties. This well kept, 4 bedroom family home is on a beautiful tree lined street and enjoys back lane access. Main floor with bright living/dining, kitchen with access to the huge deck & 3 bedrooms. Beautiful hardwood flooring! Down is a large 1 bedroom suite with separate entry. The perfect location; close to The Heights shopping district along Hastings, restaurants, St. Helens Parish, Gilmore Elementary & a quick commute to downtown Vancouver. Live in now or build your dream home!
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I have sold a property at 35 FLAVELLE DR in Port Moody.
Spectacular family home backing on greenbelt has been substantially updated throughout. Bright & beautiful kitchen, perfect for entertaining; huge granite island, 6 burner gas stove, white shaker cabinetry, quartz counters, stainless steel appliances & an adjacent family room which opens up to the large sundeck with lots of room for your bbq & outdoor furniture. Large living room, dining room, office & laundry round out the main. Up are 4 bedrooms; huge master suite w/ fireplace & massive 5 piece ensuite including free standing soaker tub & walk in shower. Hardwood flooring, designer paint & crown moulding. Down is a bright 1 bedroom in-law suite; separate laundry & walk-out the french doors to the covered patio. Extra bedroom & den down too! Steps to hiking trails of Bert Flynn Park
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H-Info-September-2020

Home sale and listing resurgence extends into the fall

Home sale and new listing activity remained at near record levels across Metro Vancouver in October.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,687 in October 2020, a 29 per cent increase from the 2,858 sales recorded in October 2019, and a 1.2 per cent increase from the 3,643 homes sold in September 2020.

Last month’s sales were 34.7 per cent above the 10-year October sales average and stands as the second-highest total on record for the month.

“Home has been a focus for residents during the pandemic. With more days and evenings spent at home this year, people are re-thinking their housing situation," Colette Gerber, REBGV Chair said. “Throughout this period, REALTORS® have been working to understand and adapt to the latest safety protocols so that they can continue to help the public meet their housing needs in a safe and responsible way.”

There were 5,571 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2020. This represents a 36.7 per cent increase compared to the 4,074 homes listed in October 2019 and a 13 per cent decrease compared to September 2020 when 6,402 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,416, a 1.5 per cent increase compared to October 2019 (12,236) and a 5.2 per cent decrease compared to September 2020 (13,096).

“With demand on the rise, homes priced right for today’s market are receiving attention and, at times, garnering multiple offers," Gerber said. "To understand the market conditions in your neighbourhood and property type of choice, work with your local REALTOR® to assess the latest MLS® housing market information."

For all property types, the sales-to-active listings ratio for October 2020 is 29.7 per cent. By property type, the ratio is 30.9 per cent for detached homes, 43.5 per cent for townhomes, and 24.9 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,045,100. This represents a six per cent increase over October 2019 and a 0.4 per cent increase compared to September 2020.

Sales of detached homes in October 2020 reached 1,335, a 42.3 per cent increase from the 938 detached sales recorded in October 2019. The benchmark price for a detached home is $1,523,800. This represents an 8.5 per cent increase from October 2019 and a 1.1 per cent increase compared to September 2020.

Sales of apartment homes reached 1,570 in October 2020, a 13.4 per cent increase compared to the 1,384 sales in October 2019. The benchmark price of an apartment property is $683,500. This represents a 4.4 per cent increase from October 2019 and is unchanged compared to September 2020.

Attached home sales in October 2020 totalled 782, a 45.9 per cent increase compared to the 536 sales in October 2019. The benchmark price of an attached home is $813,000. This represents a 5.4 per cent increase from October 2019 and a 0.4 per cent increase compared to September 2020.

 
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  • RBC Economics reported on October 15 that condo prices have “stagnated over the past six months”.

Previous to this, the bank’s economics section on September 30 predicted that condo prices could “weaken in larger markets next year”.

 

Another thing is happening as well with the condo market in Canada.

In its latest housing report, RBC Economics noted that the real-estate market is awashed with condo supply.

 

According to economist Robert Hogue, "condo investors are looking to sell”.

“As rents soften and vacancies rise, condo listings are spiking in Toronto, Montreal and Vancouver—albeit from low levels,” Hogue reported on Thursday (October 29).

 

In the City of Toronto, condo listings in September 2020 increased 133.9 percent compared to supply in the same month last year.

For the rest of the Greater Toronto area, condo listings last month posted year-over-year growth of 81.5 percent.

In the island of Montreal, listings rose 41.4 percent in September compared to the same month in 2019.

However, for the rest of the Greater Montreal area, listings declined 32.8 percent year-over-year.

In Greater Vancouver, listings of condo properties rose 20.9 percent in September 2020 compared to the same month last year.

In contrast, listings for detached homes in all Toronto, Montreal, and Vancouver metropolitan regions decreased year-over-year in September.

“New, stricter regulations in Toronto are adding to the impulse to sell – at a time when new condo completions are bringing more units to the Toronto and Vancouver markets,” Hogue noted in his October 29 report.

Hogue’s report covered in broad strokes how the COVID-19 pandemic is affecting the Canadian housing market.

“Rural and suburban areas that once lagged desirable city addresses are now roaring hot as homebuyers wearied by lockdowns seek bigger yards and larger living spaces,” Hogue wrote.

Meanwhile, “Tight downtown condo markets that previously commanded expensive rents are now thick with supply.”

Hogue also stated that “rent is now declining in Toronto, Montreal and Vancouver, especially in higher density, downtown locations”.

“Underlying the shift,” according to the bank economist is a “surge in rental supply as the short-term rental business dries up and new purpose-built rental and condo units are completed”.

As well, “Big-city living has lost some of its luster with social distancing measures severely restricting cultural life and socializing opportunities.”

“Meantime, affordability issues are driving many Canadians further afield into smaller towns and cottage country, where larger living spaces are available,” Hogue wrote.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.