May 31, 2023
I have just recently sold this listing at 343 E 35th Avenue, Vancouver. Blog › May 2023
October sales exceed historical average
Metro Vancouver home sales exceeded typical historical levels in October with the majority concentrated in the townhouse and apartment markets.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,022 in October 2017, a 35.3 per cent increase from the 2,233 sales recorded in October 2016, and an increase of 7.1 per cent compared to September 2017 when 2,821 homes sold.
Last month’s sales were 15 per cent above the 10-year October sales average.
“Conditions continue to vary significantly based on property type. The detached home market is well supplied with homes for sale, which is relieving pressure on prices,” Jill Oudil, REBGV president said. “It remains a much different story in the townhouse and apartment markets. Buyers of these properties continue to have limited supply to choose from and are seeing upward pressure on prices.”
There were 4,539 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2017. This represents a 14 per cent increase compared to the 3,981 homes listed in October 2016 and a 15.6 per cent decrease compared to September 2017 when 5,375 homes were listed.
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,137, a 0.1 per cent decrease compared to October 2016 (9,143) and a 3.5 per cent decrease compared to September 2017 (9,466).
For all property types, the sales-to-active listings ratio for October 2017 is 33.1 per cent. By property type, the ratio is 16.8 per cent for detached homes, 44.8 per cent for townhomes, and 66 per cent for condominiums.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
“The growth in our provincial economy and job market is contributing to today’s demand,” Oudil said. “The federal government’s announcement of plans to tighten mortgage requirements for the seventh time in the last eight years also helped spur activity in the short term. Many buyers are trying to enter the market before the changes are in place.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,042,300. This represents a 12.4 per cent increase over October 2016 and a 0.5 per cent increase compared to September 2017.
Sales of detached properties in October 2017 reached 940, a 44.2 per cent increase from the 652 detached sales recorded in October 2016 and a 34.6 per cent decrease from the 1,437 sales in October 2015. The benchmark price for detached properties is $1,609,600. This represents a four per cent increase from October 2016 and a 0.5 per cent decrease compared to September 2017.
Sales of apartment properties reached 1,532 in October 2017, a 30.1 per cent increase compared to the 1,178 sales in October 2016 and a 0.7 per cent decrease from the 1,543 sales in October 2015. The benchmark price of an apartment property is $642,000. This represents a 22.7 per cent increase from October 2016 and a one per cent increase compared to September 2017.
Attached property sales in October 2017 totalled 550, a 36.5 per cent increase compared to the 403 sales in October 2016 and a 17.4 per cent decrease from the 666 sales in October 2015. The benchmark price of an attached unit is $802,400. This represents a 17.7 per cent increase from October 2016 and a two per cent increase compared to September 2017.
I have just recently sold this listing at 343 E 35th Avenue, Vancouver.
May 30, 2023
I have just recently sold this listing at 920 - 3557 Sawmill Crescent, Vancouver.
May 29, 2023
View my new listing for sale SOLD at 343 E 35th Avenue, Vancouver and currently listed at $1,549,000.SOLDAre you looking for a detached house in one of the most desirable neighborhoods of Vancouver? This home can be yours! Well maintained home, located on a quite street, ideal for 1st time buyers or investors. Home is bright with lots of natural light. Main floor has 2 bedrooms, living room, kitchen with dining nook and 4 piece bath. Lower level has additional bedroom, Rec Room, 4 piece bath, and laundry. North facing, fenced backyard has a deck with mountain view. Location is very central yet quiet and peaceful. Short stroll to QE Park & Hillcrest Community Centre & short walk to all of the services and shops on Main Street.
May 29, 2023
View my new listing for sale SOLD at 920 - 3557 Sawmill Crescent, Vancouver and currently listed at $899,800.SOLDFabulous corner 2 bedroom, den, 2 bath home with an open floor-plan. Gorgeous SW VIEWS of the water, city. Enjoy the stunning VIEWS all day! Live in this 5 yr old concrete luxury building with high airy ceilings. Soak in the brilliant sunlight all day! Gourmet Chef’s kitchen with SS Jenn-Air Gas Stove-Top & oven & French Door Refrigerator, quartz counter-tops. Luxuriate in the Master Suite & Spa Ensuite! Enjoy the comfort of AC and Nu-Heat bathroom floors. Resort facilities with 14000+SF with indoor pool, dry sauna, steam room, hot tub, squash courts, basket ball court, terrace gardens, children’s facilities & playground. Move to the River District, Vancouver’s last Waterfront Community! Steps to Save-On, Shopper’s, Starbucks, Sushi Mura, Panago, Local Public Eatery. Showing by appointment
May 10, 2023
I have just recently sold this listing at 1505 - 4505 Hazel Street, Burnaby.
May 9, 2023
View my new listing for sale SOLD at 1505 - 4505 Hazel Street, Burnaby and currently listed at $598,000.SOLDThis super bright 1 bedroom and jr. 2nd bedroom in The Dynasty building, built by Bosa. Conveniently located, walking distance to Save-On Foods,Skytrain,Metrotown,Crystal Mall,Library,Central Park, Restaurants & close to B.C.I.T! This unit comes with 2 parking stalls and 1 storage. Features: quartz counter-tops, stainless steel appliances, laminate flooring, gas fire place. Great amenities: gym, sauna/hot tub.