Real Estate Advisor with Engel & Völkers West Vancouver, Canada

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Real Estate Board of Greater Vancouver Stats - July 2019


real estate board of greater vancouver market update newsflash

 

Home sales increase in July

Home buyer demand picked up across Metro Vancouver last month, making July, a traditionally quieter month in real estate, the second highest selling month so far this year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,557 in July 2019, a 23.5 per cent increase from the 2,070 sales recorded in July 2018, and a 23.1 per cent increase from the 2,077 homes sold in June 2019.

Last month’s sales were 7.8 per cent below the 10-year July sales average.

“While home sale activity remains below long-term averages, we saw an increase in sales in July compared to the less active spring we experienced,” Ashley Smith, REBGV president said. “Those looking to buy today continue to benefit from low interest rates, increased selection, and reduced prices compared to the heated market a few years ago.”

There were 4,613 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2019. This represents a 3.3 per cent decrease compared to the 4,770 homes listed in July 2018 and a 2.9 per cent decrease compared to June 2019 when 4,751 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 14,240, a 17.3 per cent increase compared to July 2018 (12,137) and a 4.9 per cent decrease compared to June 2019 (14,968).

For all property types, the sales-to-active listings ratio for July 2019 is 18 per cent. By property type, the ratio is 13.5 per cent for detached homes, 20 per cent for townhomes, and 22 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.

“To better understand conditions in your property type or neighbourhood of choice, it’s important to work with your local REALTOR®. They can help you develop a strategy to reach your long-term real estate goals,“ Smith said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $995,200. This represents a 9.4 per cent decrease over July 2018 and a 0.3 per cent decrease compared to June 2019.

Sales of detached homes in July 2019 reached 841, a 32 per cent increase from the 637 detached sales recorded in July 2018. The benchmark price for detached properties is $1,417,000. This represents a 10.5 per cent decrease from July 2018, and a 0.5 per cent decrease compared to June 2019.

Sales of apartment homes reached 1,243 in July 2019, a 15.2 per cent increase compared to the 1,079 sales in July 2018. The benchmark price of an apartment property is $653,200. This represents an 8.8 per cent decrease from July 2018, and a 0.2 per cent decrease compared to June 2019.

Attached home sales in July 2019 totalled 473, a 33.6 per cent increase compared to the 354 sales in July 2018. The benchmark price of an attached unit is $770,000. This represents a nine per cent decrease from July 2018, and a 0.6 per cent decrease compared to June 2019.

Download the July 2019 stats package.

 



New Listing 3055 144 Street, Surrey, BC


R2389122 - 3055 144 Street, Surrey, BC, CANADAView my new listing for sale at 3055 144 Street, Surrey and currently listed at $1,999,999.

Offering two homes in one, with a 1900 Sqft suite & located in Elgin/Chantrell area. Spacious living w/ vaulted high ceilings, large rooms & all the luxurious touches needed to make this home sweet home. A separate teen or in-law space on the upper level is conveniently located for extra privacy. The large basement entry suite is a bright spacious home on its own! With sprawling grounds & gorgeous trees surrounding the property, it makes for the perfect place for creating magical memories. Beautiful location in South Surrey, minutes to White Rock or Crescent Beach! Semiahmoo Trail Elementary & Semiahmoo Secondary school catchment. Welcome home!

Recently Sold Listing 5440 Wallace Avenue, Delta, BC


R2377896 - 5440 Wallace Avenue, Delta, BC, CANADAI have just recently sold this listing at 5440 Wallace Avenue, Delta.

Greater Vancouver Real Estate Market Highlights for June 2019


greater vancouver real estate market highlights june 2019



Recently Sold Listing 6081 145A Street, Surrey, BC


R2379789 - 6081 145A Street, Surrey, BC, CANADAI have just recently sold this listing at 6081 145A Street, Surrey.

New Listing 6081 145A Street, Surrey, BC


R2379789 - 6081 145A Street, Surrey, BC, CANADAView my new listing for sale SOLD at 6081 145A Street, Surrey and currently listed at $999,995.SOLD

Beautiful and immaculate spacious home is move in ready for the next family wanting to enjoy all the luxuries that it has to offer. Tasteful finishes include, crown molding, granite countertops, stainless steel appliances, maple kitchen cabinetry, and much more. Fully finished basement with separate entry, private fenced yard, plenty of space and a beautiful floorplan are desirable reasons to make this home sweet home. Located in one of surrey’s desirable and conveniently established neighborhoods, this cozy, welcoming home won’t last long. Close to schools, and positioned for easy transit and driving access, the privacy matched with a good sense of community, are reasons to explore all that this lovely property has to offer.

See the Pixilink 360° Virtual Tour for this listing

FVREB Real Estate Market Statistics Package - May 2019


fraser valley market may2019

Slight uptick in Fraser Valley property sales in May attributable to single family detached


SURREY, BC – The increase in home sales in the Fraser Valley in May compared to April is thanks to renewed interest in single family detached homes. Although total market activity remained well below historical norms – 18 per cent below the 10-year average – the sale of detached homes increased by 14.9 per cent in one month.

The Fraser Valley Real Estate Board processed 1,517 sales of all property types on its Multiple Listing Service® (MLS®) in May, a 9.7 per cent increase compared to sales in April 2019, and a 13.7 per cent decrease compared to the 1,758 sales in May of last year.

In looking at the three main residential property types, detached homes garnered 41.2 per cent of the market in May, up from 39.4 per cent in April. Attached homes garnered 58.8 per cent in May, compared to 60.6 per cent in April.

Darin Germyn, President of the Board, said of the market: "Buyers are recognizing that in the last three months, home prices have stopped declining and that in order to take advantage of the improvement in prices over the past year, now is a great time to consider making the purchase they held off on in the previous months.

"We're seeing buyers who have been waiting on the sidelines, act, because of better price opportunities and more selection. It's been four years since buyers had this much choice in the Fraser Valley."

There were 8,506 active listings available in the Fraser Valley at the end of May, an increase of 26.3 per cent compared to May of last year and an increase of 8.1 per cent compared to April 2019.

The Board received 3,542 new listings during the month, a 4.5 per cent increase compared to April 2019's intake of 3,391 new listings and a 10.7 per cent decrease year-over-year.

"Key to this market is pricing," continued Germyn. "We empathize with our clients on the challenges they face today to qualify to buy a home and we work with them to find the right property at a realistic price they can afford."

HPI® Benchmark Price Activity

  • Single Family Detached: At $964,200, the Benchmark price for a single family detached home in the Fraser Valley remained unchanged compared to April 2019 and decreased 5.9 per cent compared to May 2018.
  • Townhomes: At $522,500 the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.1 per cent compared to April 2019 and decreased 5.9 per cent compared to May 2018.
  • Apartments: At $416,800, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.9 per cent compared to April 2019 and decreased 8.0 per cent compared to May 2018.

Full package:
http://www.fvreb.bc.ca/statistics/Package201905.pdf



May 2019 Vancouver Market Highlights


May 2019 Vancouver Market Highlights for Detached houses, townhouses and apartments

may 2019 vancouver market highlights



New Listing 1509 - 6837 Station Hill Drive, Burnaby, BC


R2377763 - 1509 - 6837 Station Hill Drive, Burnaby, BC, CANADAView my new listing for sale at 1509 - 6837 Station Hill Drive, Burnaby and currently listed at $488,800.

1 Bed plus den with magical views. Magnificent 138 square foot balcony overlooking Byrne Creek Park. Sprawling trees, park setting, cuddles this very spacious home with an excellent floor plan. Walking distance to Edmond's Skytrain station & a 25 minute commute to waterfront, this exceptionally well located home has a lot to offer being the city in the park! Walking trails, tranquil, beautiful common grounds with privacy & convenience, this home is a little hidden gem in natures wilderness, yet city conveniences & lifestyle. Welcome home.

New Listing 1502 - 6837 Station Hill Drive, Burnaby, BC


R2377760 - 1502 - 6837 Station Hill Drive, Burnaby, BC, CANADAView my new listing for sale at 1502 - 6837 Station Hill Drive, Burnaby and currently listed at $629,000.

Modern, bright and beautiful 2 bed home with 9' ceilings is nestled in the lush greenery of the city in the park. Walking distance to Edmond's Skytrain station & a 25 minute commute to waterfront, this exceptionally well located home has a lot to offer being nestled steps to Byrne Creek Ravine park, schools, shops and more. Magnificent North Shore mountain views can be enjoyed in both private balconies off of the bedrooms. Walking trails, sprawling common grounds with beauty, privacy & convenience, this home is a little hidden gem in natures wilderness, yet has city conveniences & lifestyle. Gorgeous place to enjoy tranquil weekends, and to call this property home sweet home.

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