Categories
I have listed a new property at 1406 1088 QUEBEC ST in Vancouver.
View for sale! Stunning water and city view comes with 3 spacious bedrooms and 2 baths in a Bosa built family home in the sky. It also comes with large deck, brand new hardwood floors and updated kitchen as well as 2 parking and storage. Centrally located close to all the best the city has to offer in transportation, recreation, dining and shopping! Call to book private showing or visit open house Saturday and Sunday 2-4pm (Aug 12,13).
Read Full Story

Is it over? Is this the top?


The age old question of Vancouver Real estate for many years has been – is the bubble “finally” popping? (or, from a homeowner – “are our values going to plummet?)  Unfortunately, we’re not going to be able to answer that question definitively today – but I will tell you what we’re feeling now and what we expect to see.


The Numbers 

 

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 20% are considered to be sellers’ markets, below a 15% are buyers’ market and in-between are considered balanced.  Beside the number, we’ve indicated the direction the inventory on market moved when compared to the previous month. (Contact me for stats for other lower mainland areas).

 

AREA

SALES RATIO

INVENTORY + VARIANCE

AVERAGE

SALE PRICE

DOWN TOWN

Attached

51%

 

446 - Up 20%

 1% above list

VAN WEST

Detached

10%

705 - Up 6%

3% below list

VAN WEST

Attached

44%

472 - Up 20%

2% above list

VAN EAST

Detached

14%

768 - Up 3%

1% below list

VAN EAST

Attached

81%

225 - up 10%

3% above list

NEW WEST

Detached

            22%

90 - Up 10%

2% above list

NEW WEST

Attached

80%

162 – Up 18%

% above list

BURNABY

Detached

11%

 515 - Up 10%

2% below list

BURNABY

Attached

63%

369 – Up 25%

3% above list

NORTH VAN

Detached

26%

 

 308 – n/a

List price

NORTH VAN

Attached

61%

 191 - Up 31%

3% above



Some Context 

 

It’d be hard to ignore the fact that all 18 product categories above all trended towards buyer’s (or “slowed down”).  However, before you spring to any conclusions, I would point out that for the attached and condo segments, the numbers basically had no choice but to go up.  It would have been mathematically extremely challenging for them to remain as slanted towards sellers as they were last month.  Indeed, the evidence we’ve seen on sales pricing over the last couple of weeks supports that we are still very much in a seller’s market in all areas in the attached and condo segments. Multiple offers are still very much the norm (with the vast majority of offers being made subject free) and pricing week after week continues to increase.


Are Houses still Hot?

 

The detached segment of the market is a very different story – though perhaps not the obvious one based on the numbers.  Interestingly, some houses are still seeing multiple offers (admittedly not as many) – and those places do appear to be setting new record high prices.  However, houses that are listed at market or slightly above market (or have no super unique selling characteristic) are having a much tougher time selling and we’re seeing pricing going down a bit on those.  The only explanation I’ve been able to come up with is that buyer’s (and/or their agents) are allowing the strata market to impact the way they are acting when buying detached homes and are thus whipping themselves into a frenzy in the multiple offers that are developing (and thus potentially making a mistake by not choosing one of the many other options that are now available).  Interestingly, despite the buyer’s market conditions, pricing on detached still increased month over month by 1.5%.

 

What’s next?


There’s been several major changes in the marketplace recently – a change in provincial government (to a coalition of parties who have stated an interest in making Vancouver real estate more affordable), an increase in the Bank of Canada interest rate and a proposed change in mortgage qualification criteria for uninsured mortgages.  Given these larger forces, it is reasonable to expect that the detached market will continue to be slanted towards buyers for some time.  Lower priced detached homes continue to sell quickly, but as their prices rise, they too will slow and prices overall will thus decline (the current growth in pricing is because while the top end of the detached market is extremely slow, the bottom end remains reasonably active for the most part).  Attached and condos will eventually feel the same dragging force – however, when that actually happens is anyone’s guess (and there’s just no evidence of it yet).  It is our expectation, however, that despite the overall slowing in our marketplace, prices will remain reasonably sticky and we won’t see substantial price decreases in any of our markets.  

 

Post CommentComments: 0Read Full Story
I have sold a property at 310 3089 OAK ST in Vancouver.
2 bedroom + den corner unit facing south side of the building in sought after Fairview location. Bright & efficient open floor plan. Spacious kitchen featuring granite countertops and maple cabinets. Laminate flooring throughout. Maintenance includes hot water, etc. Wood framed, fully rain screened 13 yr old building. Walk to VGH, City Hall, shopping, transits, & schools. Includes parking. No rental restrictions.
Read Full Story
I have sold a property at PH1 8728 MARINE DR SW in Vancouver.
Lowest priced 3 bedroom on the west side of Vancouver! Over 1000 SQFT in this penthouse corner unit located in central Marpole. This fully renovated unit features in-suite washer and dryer, walk-in-closet and large private balcony with South West view. Fully rain screened building and is it getting new plumbing this summer that has already been paid for by the seller! Walk to shops, restaurants and transit on Granville street.
Read Full Story
I have sold a property at 8187 CARTIER ST in Vancouver.
Located on a quiet street in Marpole, on the West Side of Vancouver, this 3 bedroom, 2 bath home is the perfect investment property. Listed for land value, choose to live in, rent out or build on this 33 x 122.05 lot RS-1 lot. This centrally located home would be easily rentable. Short walk to Granville Street where you'll find plenty of shops and restaurants.
Read Full Story
I have listed a new property at 301 6960 120 ST in Surrey.
Bright, Immaculate, Contemporary 930sf 2bed, 2bath and den unit conveniently located across from Scottsdale Mall. Brand new flooring throughout and freshly painted this week. Master suite with walk in closet and roomy ensuite bath. Second bedroom is a good size. Open concept kitchen has a functional layout to make food prep a pleasure. Enjoy BBQs on your large patio in summer and keep warm by gas fireplace in winter. Close to retail, recreation, all levels of school and transit, this unit is situated on the quiet side of the building and is ready for you to move in and call it home. OPEN: Sat, July 22 from 11am-1pm.
Read Full Story
I have sold a property at 102 8988 HUDSON ST in Vancouver.
Well-maintained, ground-level, junior 1 bdrm unit available @ The Retro. High ceilings and tall windows make the unit feel bright and open. Unit features include private patio, gas fireplace, subway tiles in bathroom, fir floors, granite counters and s/s appliances all in a spacious layout. Building amenities include fitness center and bike room, plus one secure parking stall. Centrally located in Marpole on the West side of Vancouver. Pets and rentals allowed.
Read Full Story
I have listed a new property at 301 6960 120 ST in Surrey.
Bright, Immaculate, Contemporary 930sf 2bed, 2bath and den unit conveniently located across from Scottsdale Mall. Brand new flooring throughout and freshly painted this week. Master suite with walk in closet and roomy ensuite bath. Second bedroom is a good size. Open concept kitchen has a functional layout to make food prep a pleasure. Enjoy BBQs on your large patio in summer and keep warm by gas fireplace in winter. Close to retail, recreation, all levels of school and transit, this unit is situated on the quiet side of the building and is ready for you to move in and call it home.
Read Full Story
I have sold a property at 2597 GRANT ST in Vancouver.
Spacious family home on a corner lot facing Clinton Park. Extra wide 40.3 x 127 sized corner lot presents more like 50 feet. Located in one of East Van’s most sought after neighbourhoods, this home has everything you’re looking for. Featuring a two-bedroom basement suite, detached garage, large yard and plenty of storage including a wine cellar. Steps away from everything ‘The Drive’ has to offer including shops, restaurants, schools and transit.
Read Full Story
I have listed a new property at 25388 ROBERTSON CRES in Langley.
Escape to paradise! Five stunning acres amidst some of the most beautiful areas in Metro Vancouver. Move in or build your dream home among your own park-like setting overlooking your own private pond. Enjoy the the quiet, private serenity without sacrificing nearby amenities. Close by zoo, school & golf course with quick access to Hwy 1. Perfect for those in any stage of life. Don't delay! Call for a private showing.
Read Full Story
I have listed a new property at PH1 8728 MARINE DR SW in Vancouver.
Lowest priced 3 bedroom on the west side of Vancouver! Over 1000 SQFT in this penthouse corner unit located in central Marpole. This fully renovated unit features in-suite washer and dryer, walk-in-closet and large private balcony with South West view. Fully rain screened building and is it getting new plumbing this summer that has already been paid for by the seller! Walk to shops, restaurants and transit on Granville street. OPEN: Saturday, July 15, 2:00 - 3:00PM
Read Full Story
I have listed a new property at 8071 LUTON RD in Richmond.
3 suite investment property available in Richmond. Huge 8000+ SQFT lot located in the prestigious Garden City neighbourhood. Home features numerous updates including large addition, renovated bathrooms, kitchens and new paint throughout. Well situated separate entrances for each of the 3 suites. Walk to schools, transit, community center and Richmond Centre. OPEN: Sat/Sun July 15/16 2:00 - 4:00PM
Read Full Story
I have listed a new property at 8187 CARTIER ST in Vancouver.
Located on a quiet street in Marpole, on the West Side of Vancouver, this 3 bedroom, 2 bath home is the perfect investment property. Listed for land value, choose to live in, rent out or build on this 33 x 122.05 lot RS-1 lot. This centrally located home would be easily rentable. Short walk to Granville Street where you'll find plenty of shops and restaurants.
Read Full Story
I have listed a new property at 310 3089 OAK ST in Vancouver.
2 bedroom + den corner unit facing south side of the building in sought after Fairview location. Bright & efficient open floor plan w/ electric fireplace. Spacious kitchen featuring granite countertops and maple cabinets. Laminate flooring throughout. Maintenance includes hot water, alarm monitoring, etc. Wood framed, fully rain screened 13 yr old building. Walk to VGH, City Hall, shopping, transits, & schools. Includes parking. No rental restrictions. OPEN: Sat Jul 8th 2:00-3:00PM & Sun Jul 9th 2:00-4:00PM
Read Full Story
I have listed a new property at 102 8988 HUDSON ST in Vancouver.
Well-maintained, ground-level, junior 1 bdrm unit available @ The Retro. High ceilings and tall windows make the unit feel bright and open. Unit features include private patio, gas fireplace, subway tiles in bathroom, fir floors, granite counters and s/s appliances all in a spacious layout. Building amenities include fitness center and bike room, plus one secure parking stall. Centrally located in Marpole on the West side of Vancouver. Pets and rentals allowed. OPEN: Sat, July 8th 2:00 - 3:00PM
Read Full Story
I have listed a new property at 2597 GRANT ST in Vancouver.
Spacious family home on a corner lot facing Clinton Park. Extra wide 40.3 x 127 sized corner lot presents more like 50 feet. Located in one of East Van’s most sought after neighbourhoods, this home has everything you’re looking for. Featuring a two-bedroom basement suite, detached garage, large yard and plenty of storage including a wine cellar. Steps away from everything ‘The Drive’ has to offer including shops, restaurants, schools and transit. OPEN: Sat/Sun July 8/9 2:00-4:00PM
Read Full Story
I have sold a property at 5 300 MAUDE RD in Port Moody.
Nestled behind Noons Creek in Port Moody, you’ll find this private, family-friendly 3 bedroom + den townhome. Soaring vaulted ceilings with updated skylights give the 2,073sf home a bright and airy feel. Unit features attached double garage, plenty of outdoor space, updated appliances, and a double steam shower in the ensuite. Located in a well-run 10 unit complex, across the street from the Rec Centre, near Newport, Suter Brook Villages, inlet trails, Old Orchard Park, Evergreen line & everything else the City of the Arts has to offer.
Read Full Story
I have sold a property at 20469 98A AVE in Langley.
Need more space? It doesn't get much bigger than this! This 4,505sf beauty is move-in ready for an extended family. The main floor features an airy entertainment space, kitchen (granite counters) & spice kitchen, family room and office. The sprawling top floor has 4 bedrooms, two large enough to be master suites. The basement provides another 2 bedrooms and a large den and could easily be suited. New Carpeting throughout, newer washer/dryer, additional patio space are some of the upgrades. Large garage (with bonus mezzanine) and ample driveway along with the big backyard make this the perfect home for a large family.
Read Full Story
I have sold a property at 311 2020 8TH AVE W in Vancouver.
Here is your chance to live in Kits! This comfortable, 1 bedroom unit features gas fireplaces, in-suite storage, and south facing covered patio, engineered flooring, SS appliances, walk in closet, in-suite laundry, and full bathroom renovation. AND it is situated in a friendly, well maintained building. The walk score is an amazing 98, so most days you will be able to leave your car in the parking spot that comes with the unit. Have a pet? Not a problem; building is pet friendly! Rentals are allowed with restrictions. Visit realtor's website for virtual tour.
Read Full Story
I have listed a new property at 205 3921 CARRIGAN CRT in Burnaby.
Location, space and possibility! Conveniently located near Lougheed Mall, Skytrain and all levels of schools, this 3 bed 2 bath unit has spacious rooms in a very comfortable and practical layout that spans almost 1200sf. Amenities include insuite laundry, indoor pool, hot tub, sauna and recreation room. New, quality laminate flooring was installed in 2016. Bring your decorating ideas and call to book your private showing today. OPEN: Saturday June 24th 2:00-4:00 PM
Read Full Story