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I have sold a property at 410 333 WETHERSFIELD DR in Vancouver.
Your oasis in the city! This 2 bedroom, 2 bath separate entrance unit at Langara Court has it all. Meticulously cared for and updated featuring fully renovated kitchen and bathrooms and a large open living space with beautiful stone lined fireplace. Soaring vaulted ceilings with skylights provide an abundance of natural light. Your large private patio faces the peaceful forested courtyard. Amenities include landscaped grounds, an indoor pool, sauna and lounge. 2 large, secured underground parking stall and 1 storage locker all in a very well run building. Walk to Langara golf course, college, Oakridge mall and Canada Line Skytrain. The perfect location for the perfect home. 19+. See Realtor website for virtual tour.
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I have sold a property at 2239 TRAFALGAR ST in Vancouver.
Explore your options with this 2324 sq. ft. home with 3 easily separated suites: garden, main and upper. Owner occupied for 46 years. Mechanically updated with newer roof (2011), exterior paint (2012), gas furnace (2006), on demand hot water (2013) and tastefully renovated over the years with newer floors, gas fireplace, appliances, windows, fixtures and combined 395 sq. ft. of deck space. Tucked on a RT-8 lot on a beautiful and quiet tree-lined street, this home offers convenient access to schools, recreation centre, buses, shopping and Kits beach. Resident only parking out front. See realtor’s website for floorplan and virtual tour. Walk Score: 97 OPEN: Sat/Sun. Mar 11/12 2:00 - 4:00pm
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Going back a few months, our market was fairly quiet and some were declaring an imminent crash.  In reviewing this months’ numbers, it’s reasonably clear that any threat of a imminent crash has disappeared.

 

Let’s start with the usual stats - the numbers shown are a ratio of the number of active listings (at end of month) over the number of sales in that month.  Numbers above a 7 are considered to be buyers’ markets, below a 5 are sellers’ and in-between are considered balanced.  Beside the number, I’ve indicated the direction the market moved when compared to the previous month.

 

Months Supply

Van West

Van East

North Van

Richmond

Burnaby

New West

Detached

5.9

Down

4.3

Down

2.4

Down

4.3

Down

3.8

Down

2.4

Down

Attached

2.0

Down

2.1

Down

1.2

Same

1.9

Down

1.6

Down

1.3

Down

Condo

1.4

Down

1.1

Down

0.9

Down

1.0

Down

1.3

Down

1.2

Down

 

The incredible thing about these numbers is to see how quickly and how strongly the detached markets have rebounded.  Admittedly the West side of Vancouver is now “only” in a balanced market, but it is important to remember that a short two months ago, we were reporting 15.6 months of inventory in that market (the strongest buyer’s market conditions we’ve seen since in any of our markets since January of 2009).  Similarly, detached markets in our other regions (which had been trending in the 7-9 months range) are all back squarely into being seller’s markets.  Realistically, the attached/condo markets didn’t really have much “recovery” to make (as anyone who regularly reads this newsletter will know) – they’ve mostly all remained in sellers market conditions.  Admittedly, it is striking to see that they’ve managed to get even tougher on buyers than in the last few months.

 

The question becomes – what’s driving these conditions.  For the most part, the answer continues to be a lack of inventory.  Homeowners simply don’t seem to be selling their homes in as large numbers as our market has/had become accustomed to.  Excluding 2016 from the analysis momentarily, we are seeing inventory levels at ½ of what we would in the month of March for any of 2011-2015.  Sales numbers are also down when compared to those years, but not be nearly the same percentages. (generally closer to 25% - 30% less sales in any comparable March).

 

What does this all mean?  It means that as long as these pressures remain for any sustained period of time, we’ll see prices increasing again.  We had seen prices decrease through last fall.  Most of the pricing graphs for these markets are now showing a leveling off of prices and, in some cases, price increases again. 

 

 

 

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I have listed a new property at 201 1396 BURNABY ST in Vancouver.
Walk to the beach from your boutique West End condo! Enjoy the lifestyle of this location in your spacious 2-bedroom home. Look out to a lovely treed view from this northwest corner suite featuring abundant natural light throughout and a spacious open balcony. This unit is in the rarely available the Brambleberry building – a well cared for and carefully managed strata with only 17 homes. Secure parking and pet friendly building. Building upgrades include new roofing, plumbing, painting, landscaping, siding repairs & a very modern & sleek foyer & hallways. Nothing to do but move in and enjoy this home and wonderful community. See Realtor's website for Virtual Tour. OPEN: Sat/Sun April 8/9 2:00 - 4:00PM
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I have listed a new property at 410 333 WETHERSFIELD DR in Vancouver.
Your oasis in the city! This 2 bedroom, 2 bath separate entrance unit at Langara Court has it all. Meticulously cared for and updated featuring fully renovated kitchen and bathrooms and a large open living space with beautiful stone lined fireplace. Souring vaulted ceilings with skylights provide an abundance of natural light. Your large private patio faces the peaceful forested courtyard. Amenities include landscaped grounds, an indoor pool, sauna and lounge. 1 large, secured underground parking stall and 1 storage locker all in a very well run building. Walk to Langara golf course, college, Oakridge mall and Canada Line Skytrain. The perfect location for the perfect home. 19+. See Realtor website for virtual tour. OPEN: Thu, Apr 6 10am-12pm; Sat, Apr 8 2pm-3:30pm, Sun, Apr 9 12pm-1:30pm.
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