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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.

New Listing 314 - 1485 W 6th Avenue, Vancouver, BC


R2261839 - 314 - 1485 W 6th Avenue, Vancouver, BC, CANADAView my new listing for sale at 314 - 1485 W 6th Avenue, Vancouver and currently listed at $1,199,000.

Outstanding location. Walking distance to Granville Island, seawall & public transportation. Next to Granville Loop Park & tennis courts. 2 bedrooms, solarium (could be 3rd bedroom), 2 full bathrooms, 2 side by side parking stalls, storage locker, fantastic mountain & city views from every room. Brand new appliances with warranty. Engineered hardwood floors throughout the unit, gas fireplace & gas range. Amazing amenities; gym, hot tub, workshop room, large bike room and party room. Well managed strata with a very strong contingency fund. Priced below assessment value.

New Listing 2701 - 1166 Melville Street, Vancouver, BC


R2259995 - 2701 - 1166 Melville Street, Vancouver, BC, CANADAView my new listing for sale SOLD at 2701 - 1166 Melville Street, Vancouver and currently listed at $1,099,000.SOLD

Fabulous 2 bedroom, 2 bath & den/solarium suite at Orca Place! The unit features air conditioning, 9' ceilings & balcony. Enjoy fantastic city lights & North Shore mountain views. Located at Vancouver's prestigious Coal Harbour, walk to Urban Fare, seawall, restaurants, Stanley Park, shopping & marina. 

New Listing 783 Montroyal Boulevard, North Vancouver, BC


R2253999 - 783 Montroyal Boulevard, North Vancouver, BC, CANADAView my new listing for sale SOLD at 783 Montroyal Boulevard, North Vancouver and currently listed at $1,499,000.SOLD

This is your chance to live in one of the most desired neighbourhoods in North Vancouver with the best school catchment. Short walking distance to Canyon Heights Elementary and Handsworth Secondary School. Main level has an open concept plan with 3 bedrooms, wood burning fire place and a sun-drenched south facing patio to enjoy your summer BBQ. Lower level has 3 bedrooms, direct access to a south facing patio and a wood burning fire place. For INVESTORS: this is a great income producing property with a monthly rent over $4750.

New Listing 1401 - 188 Agnes Street, Vancouver, BC


R2253682 - 1401 - 188 Agnes Street, New Westminster, BC, CANADAView my new listing for sale SOLD at 1401 - 188 Agnes Street, New Westminster and currently listed at $529,800.SOLD

THE ELLIOT - You will enjoy stunning views of the Fraser River from this one bedroom condo. Enjoy entertaining in your beautiful open concept kitchen featuring gas cooktop, top of the line Bloomberg & Fabes stainless steel appliances, quartz counter tops and plenty of storage. Amazing views from your bedroom with a walk in closet. The Elliot is located centrally with five minute walking distance to Skytrain Station. Building amenities include gym, meeting room, dog washing station and bike rooms. 2-5-10 warranty. 1 parking and 1 storage. Great unit to live in or invest. Open House Sat: 3-5pm Sunday: 12-2pm

New Listing 508 - 271 Francis Way, New Westminster, BC


R2239851 - 508 - 271 Francis Way, New Westminster, BC, CANADAView my new listing for sale SOLD at 508 - 271 Francis Way, New Westminster and currently listed at $484,500.SOLD

Beautiful 1 bedroom & den home in 'Parkside' is concrete high rise in the beautiful Victoria Hill neighbourhood by Onni development. Very functional floorplan with 9' ceilings, floor to ceiling windows & laminate flooring, Kitchen Aid appliances and gas range. Nestled amongst the trees next to Queens Park, Victoria Hill is central to all amenities yet secluded from the hustle & bustle of everyday life. Steps to public transit. Unit comes with 1 parking + 1 storage locker. Good size balcony. Amenities include well equipped gym, yoga room, swimming pool, hot tub, guest suites, party room, media room, meeting room, bicycle room. Pet friendly and rentals are allowed. Open Houses: Sat, Feb 17th, 2:00-4:00 PM & Sun, Feb 18th, 12:00-2:00 PM.

New Listing 309 - 3651 Foster Avenue, Vancouver, BC


R2230848 - 309 - 3651 Foster Avenue, Vancouver, BC, CANADAView my new listing for sale at 309 - 3651 Foster Avenue, Vancouver and currently listed at $749,900.

Amazing large two bedroom two bathroom plus den/office unit with a great open concept and mountain views from your large balcony for entertaining. With over 950 sq ft you will love the granite countertops in your gourmet kitchen with gas range, rich laminate flooring, 9' ceilings and a great pantry that can also be used as an office. The location is terrific as this building is nestled on a private and quiet street, yet walking distance to Joyce Skytrain and minutes to Highway 1, Metrotown Centre, Central Park and restaurants. The master bedroom has a walk-in closet and ensuite. 1 parking and 1 storage locker. This unit has everything you need including an insuite laundry. Open Houses: Sat & Sun, Jan 13th & 14th, 2:00-4:00 PM.

New Listing 309 - 3651 Foster Avenue, Vancouver, BC


R2218603 - 309 - 3651 Foster Avenue, Vancouver, BC, CANADAView my new listing for sale at 309 - 3651 Foster Avenue, Vancouver and currently listed at $749,000.

Amazing large two bedroom two bathroom plus den/office unit with a great open concept and mountain views from your large balcony for entertaining. With over 950 Sq Ft you will love the granite countertops in your gourmet kitchen with gas range, rich laminate flooring, 9’ ceilings, and a great pantry that can also be used as an office. The location is terrific as this building is nestled on a private and quiet street, yet walking distance to Joyce skytrain and minutes to Highway 1, Metrotown Centre, Central Park and restaurants. The master bedroom has a walk-in closet and en-suite. 1 parking and 1 storage locker. This unit has everything you need including an in suite laundry.

New Listing 1402 - 150 W 15th Street, North Vancouver, BC


R2177746 - 1402 - 150 W 15th Street, North Vancouver, BC, CANADAView my new listing for sale SOLD at 1402 - 150 W 15th Street, North Vancouver and currently listed at $599,900.SOLD

Gorgeous luxury 1 bedroom, 1 bath apartment unit in the sought after 15 WEST located in Central Lonsdale, built by Grosvenor & Citimark. 15 West is a fabulous building offering party room, full gym facilities and it is pet & rental friendly. The unit features dark, wide plank flooring, Kitchen Aid stainless steel built in appliances, gas stove, in-suite laundry, thick slab granite counter-tops, efficient water baseboard heat is included in the maintenance fees. Large 8'x12' balcony with pleasant east facing view of the city & mountains. 1 parking, 1 storage locker, gas included in maintenance fees. Open June 17/18, 2-4pm.

New Listing 407 - 33898 Pine Street, Abbotsford, BC


R2165186 - 407 - 33898 Pine Street, Abbotsford, BC, CANADAView my new listing for sale SOLD at 407 - 33898 Pine Street, Abbotsford and currently listed at $283,000.SOLD

Gallentree in Abbotsford! This top floor, 2 bedroom, 2 bathroom unit is located on the south side of the building. The unit features, engineered hardwood floor, granite countertops, high ceilings, 1 parking stall and a storage locker. Bedrooms on opposite sides of the living room for privacy, walk-in closet in the master bedroom. Great size south facing balcony for your summer BBQ. Rentals allowed. All sized dogs are welcomed. Great location, close to public transit, schools and recreation. Tenanted for $1295 per month.

New Listing 1007 - 235 Keith Road, West Vancouver, BC


R2129419 - 1007 - 235 Keith Road, West Vancouver, BC, CANADAView my new listing for sale SOLD at 1007 - 235 Keith Road, West Vancouver and currently listed at $999,000.SOLD

Gorgeous Spurway townhouse is set against a beautiful garden acreage close to Capilano River Regional Park. This 3 bd, TV/family room, 2 bathroom and a powder room townhome has beautiful updates and features: new floors, new patio, new kitchen, new carpets, new appliances and a wood-burning fireplace. Open concept kitchen and living room opening out to an enormous private patio overlooking the gardens. Lots of storage and insuite laundry. Spurway Gardens sits on acres of lush landscaping, gorgeous communal lodge, guest suite, resort style outdoor swimming pool, onsite caretaker, all within minutes walk to Park Royal Shopping Center and Ambleside. Unit comes with 2 parking - one covered, one open - and storage locker. JUST SOLD!

New Listing 1007 - 235 Keith Road, West Vancouver, BC


R2126121 - 1007 - 235 Keith Road, West Vancouver, BC, CANADAView my new listing for sale at 1007 - 235 Keith Road, West Vancouver and currently listed at $1,070,000.

Gorgeous Spurway townhouse is set against a beautiful garden acreage close to Capilano River Regional Park. This 3 bd, TV/family room, 2 bathroom and a powder room townhome has beautiful updates and features: new floors, new patio, new kitchen, new carpets,new appliances and a wood burning fireplace. Open concept kitchen and living room opening out to an enormous private patio overlooking the gardens. Lots of storage and In-suite laundry. Spurway Gardens sits on acres of lush landscaping, gorgeous communal lodge, guest suite, resort style outdoor swimming pool, onsite caretaker, all within minutes walk to Park Royal Shopping Center and Ambleside. Unit comes with 2 parking -one covered, one open-and storage locker. School Catchment: Westcot Elementary & Sentinel Sec. Open Dec 10/11: 2-4pm.

New Listing 7 - 995 Lynn Valley Road, North Vancouver, BC


R2089852 - 7 - 995 Lynn Valley Road, North Vancouver, BC, CANADAView my new listing for sale SOLD at 7 - 995 Lynn Valley Road, North Vancouver and currently listed at $799,000.SOLD

This impressive 3 level/3 bedroom, 2 bathroom townhouse is centrally located in Lynn Valley. Private and fully fenced backyard that is right off the kitchen & eating area is great to spend your summer days relaxing & entertaining your family & friends. This family friendly townhouse has an open plan on main, vaulted ceilings in master suite, 2 parking, gas fireplace, lots of storage, cozy window seats and a vegetable garden in the backyard. Located right in Lynn Valley you can walk to everything including shopping, entertainment & Karen Magnessen Recreation Center. Also close to transit, nature trails & mountain biking. Open House July 23, 2-4pm, July 24, 2-4pm.

New Listing 6 - 995 Lynn Valley Road, North Vancouver, BC


R2062205 - 6 - 995 Lynn Valley Road, North Vancouver, BC, CANADAView my new listing for sale SOLD at 6 - 995 Lynn Valley Road, North Vancouver and currently listed at $599,000.SOLD

This impressive 2 level/2 bdrm townhome is centrally located in Lynn Valley and perfect for young families and couples. Built by Adera in 2001, this unit features granite countertops, stainless steel appliances, cozy window seats, in-suite laundry, and a large rooftop deck to enjoy your summer BBQ! Located in the heart of Lynn Valley, yet well off the road so it is quiet and serene. Walk to everything including shopping,entertainment and recreation facilities. Bonus: 2 parking spots. Open House April 30/May 1 between 2pm and 4pm.

New Listing 206 - 3151 Woodbine Drive, North Vancouver, BC


R2054120 - 206 - 3151 Woodbine Drive, North Vancouver, BC, CANADAView my new listing for sale SOLD at 206 - 3151 Woodbine Drive, North Vancouver and currently listed at $730,000.SOLD

Location! Spacious 2 bedroom/2 bathroom/2 parking condo with in-suite laundry situated right in Edgemont Village. Features include: large eat-in kitchen with a beautiful patio, gas fireplace, balcony, spacious dining area, storage and all new appliances. All the shopping and amenities of Edgemont Village are just steps away. Close to transit, library and recreation. Highlands Elementary School and Handsworth Secondary School catchment. Call for your private showing. Open House April 16/17 between 2pm and 4pm.

New Listing 1210 - 788 Hamilton Street, Vancouver, BC


R2011307 - 1210 - 788 Hamilton Street, Vancouver, BC, CANADAView my new listing for sale SOLD at 1210 - 788 Hamilton Street, Vancouver and currently listed at $530,000.SOLD

Welcome to TV TOWERS 1 located at Hamilton St and Robson St. This immaculate 1 bedroom + office + den home has a great layout with an in-suite laundry and balcony. Full amenities including 24 hr concierge service, hot tub, sauna, gym, bike room. Don't miss this opportunity to live only steps away to Library, BC Place stadium, QE Theatre, Skytrain Station, Canada Line, and Yaletown. 1 secured underground parking. SOLD OVER ASKING

New Listing 2206 - 1189 Howe Street, Vancouver, British Columbia


V1131913 - 2206 - 1189 Howe Street, Vancouver, British Columbia, CANADAView my new listing for sale SOLD at 2206 - 1189 Howe Street, Vancouver and currently listed at $0.SOLD

This beautiful corner suite offers 180 degree views features laminate flooring, granite countertops. Amazing amenities including indoor pool, hot tub, sauna, exercise room, guest suite and 24 hrs concierge service. Comes with 1 parking. insuite laundry. 1 bedroom plus den.

New Listing 203 - 788 W 8th Ave, Vancouver, British Columbia


V1125195 - 203 - 788 W 8th Ave, Vancouver, British Columbia, CANADAView my new listing for sale SOLD at 203 - 788 W 8th Ave, Vancouver and currently listed at $600,000.SOLD

Beautiful 2 level condo with 3 bedrooms, and 2 full bathrooms in a very central location. This unit has 3 balconies and 1 private rooftop deck with amazing views of False Creek. Bedrooms and bathrooms are located on the main level and the kitchen and the living room, located on the upper level. Living room has a gas fireplace (gas included in maint. fees) and skylights in the living room bring lots of light. Close to VGH, Whole Foods, Winners, Home Depot, walking distance to Charleson Park, Canada Line, 2 parking stalls and 1 storage. Courtyard tiles and parking membrane project has been done recently. Rented for $2550 per month. Entrance to the building can be from Willow St. as well as from 8th Av. OPEN HOUSE CANCELED.

New Listing 203 - 788 W 8th Avenue, Vancouver,


 - ONE WATER KELOWNA, , , CANADAView my new listing for sale SOLD at ONE WATER KELOWNA, and currently listed at $0.SOLD

Contact Evelyn Sonmez if you are interested in purchasing a unit at ONE WATER Kelowna.

New Listing 203 - 788 W 8th Ave, Vancouver, British Columbia


V1113139 - 203 - 788 W 8th Ave, Vancouver, British Columbia, CANADAView my new listing for sale at 203 - 788 W 8th Ave, Vancouver and currently listed at $628,000.

Beautiful 2 level condo with 3 bedrooms and 2 full bathrooms in a very central location. This unit has 3 balconies and 1 private rooftop deck with an amazing view of False Creek. Bedrooms and bathrooms are located on the main level and the kitchen and the living room are located on the upper level. Living room has a gas fireplace (gas incl in maintenance fee). Skylights in the living room bring lots of light. In-suite laundry. Walk Score of 95 - Walker's Paradise. Close to VGH, walking distance to Charleson Park,Whole Foods and Canada Line. 2 parking stalls and 1 storage locker. School catchment: False Creek Elementary and Kitsilano Secondary, Rented for $2550 per month. Open Saturday May 2nd 2pm-4pm.

New Listing 208 - 1266 W 13th Ave, Vancouver, British Columbia


V1111654 - 208 - 1266 W 13th Ave, Vancouver, British Columbia, CANADAView my new listing for sale SOLD at 208 - 1266 W 13th Ave, Vancouver and currently listed at $0.SOLD

Beautiful NE corner unit 1100 sqf, 2 bedroom, 1.5 bathroom at the Landmark Shaughnessy. Features beautifully maintained laminate oak flooring, wrap around balcony, wood fireplace, large living and dining area, large master bedroom with walk -in-closet and 2 piece ensuite bathroom. Excellent location with a walk score of 95 - walker's paradise. Unit comes with 1 parking and 1 storage locker. Great opportunity to live in a beautiful unit just steps away from the shops and restaurants of South Granville. Maintenance fee includes gas and heating. Floor plan available-click on pictures.

New Listing 806 - 928 Richards Street, Vancouver, British Columbia


V1103638 - 806 - 928 Richards Street, Vancouver, British Columbia, CANADAView my new listing for sale SOLD at 806 - 928 Richards Street, Vancouver and currently listed at $0.SOLD

Great opportunity to live in a 2 bedroom/2 bath condo in the heart of Downtown. This corner unit offers gas stove, gas fireplace, separate balcony, in suite laundry, granite countertops, walk in closet and a corner balcony, insuite laundry, granite countertops, walk in closet and a corner balcony. The Savoy building offers 70' pool, whirlpool, sauna, 1 parking and 1 storage. Rented for $1950 per month.

New Listing 1205 - 1088 Richards Street, Vancouver, British Columbia


V1094269 - 1205 - 1088 Richards Street, Vancouver, British Columbia, CANADAView my new listing for sale SOLD at 1205 - 1088 Richards Street, Vancouver and currently listed at $0.SOLD

RICHARD'S LIVING - This beautiful one bedroom and den unit is situated in the most central location in Yaletown. Great layout, floor-to-ceiling windows, very bright with stainless steel appliances and granite countertops. Building amenities include fitness centre plus an amazing urban rooftop with great city views. Walking distance to sky train, restaurants, and shopping. One parking stall, balcony and in-suite laundry. Pets allowed w/restrictions and rentals allowed.

New Listing 4417 Starlight Way, North Vancouver, British Columbia


V1053198 - 4417 Starlight Way, North Vancouver, British Columbia, CANADAView my new listing for sale SOLD at 4417 Starlight Way, North Vancouver and currently listed at $0.SOLD

This is your opportunity to live in a beautiful Upper Delbrook neighbourhood. Great views of the ocean and the city are enjoyed from dining & living room leading to a large sunny deck. 824 sf of a brick patio overlooking a large private flat south facing yard accessed from the family room to entertain your family & friends. On the main floor are 3 bdrms, mstr bdrm w/ 3 piece ensuite & sliders to the deck, living room w/ wood-burning F/P, large kitchen & dining room. The lower level has a large family room w/ wood-burning F/P & direct access to the patio, the 4th bdrm, bathroom, laundry room, storage & a workshop. Located in a quiet cul-de-sac st. Schools: Braemar Elementary, Carson Graham. Open June 8 2-4pm