Please visit our Open House at 1426 MADRONA PL in Coquitlam.
Open House on Sunday, May 20, 2018 2:30PM - 4:30PM Well constructed Parklane built home on a quiet Cul-De-Sac at a beautiful block at the top of Westwood Plateau. Excellent layout with open floor plan. Main floor: formal living and dining room, large windows, den (could be office/kids play room). Working island in the kitchen, separate eating area and huge family room. Double garage. Upstairs has 4 bedrooms and a recreation room (could be a bedroom). Peek-a-boo view. Basement is about 900sf and ready for finishing. City assessment $1.49M
Well constructed Parklane built home on a quiet Cul-De-Sac at a beautiful block at the top of Westwood Plateau. Excellent layout with open floor plan. Main floor: formal living and dining room, large windows, den (could be office/kids play room). Working island in the kitchen, separate eating area and huge family room. Double garage. Upstairs has 4 bedrooms and a recreation room (could be a bedroom). Peek-a-boo view. Basement is about 900sf and ready for finishing. House is in original condition. City assessment $1.491M Open Sunday.
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I have listed a new property at 1426 MADRONA PL in Coquitlam.
Well constructed Parklane built home on a quiet Cul-De-Sac at a beautiful block at the top of Westwood Plateau. Excellent layout with open floor plan. Main floor: formal living and dining room, large windows, den (could be office/kids play room). Working island in the kitchen, separate eating area and huge family room. Double garage. Upstairs has 4 bedrooms and a recreation room (could be a bedroom). Pee-a-poo view. Basement is about 900sf and ready for finishing. House is in original condition.
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HOME SALES DOWN, LISTINGS UP ACROSS METRO VANCOUVER

 

The Metro Vancouver housing market saw fewer home buyers and more home sellers in April.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,579 in April 2018, a 27.4 per cent decrease from the 3,553 sales recorded in April 2017, and a 2.5 per cent increase compared to March 2018 when 2,517 homes sold.

Last month’s sales were 22.5 per cent below the 10-year April sales average.

“Market conditions are changing. Home sales declined in our region last month to a 17-year April low and home sellers have become more active than we’ve seen in the past three years,” Phil Moore, REBGV president said. “The mortgage requirements that the federal government implemented this year have, among other factors, diminished home buyers’ purchasing power and they’re being felt on the buyer side today.”

Listings

There were 5,820 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2018. This represents an 18.6 per cent increase compared to the 4,907 homes listed in April 2017 and a 30.8 per cent increase compared to March 2018 when 4,450 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,822, a 25.7 per cent increase compared to April 2017 (7,813) and a 17.2 per cent increase compared to March 2018 (8,380).

“Home buyers have more breathing room this spring. They have more selection to choose from and less demand to compete against,” Moore said.

Sales-to-active listing ratio

For all property types, the sales-to-active listings ratio for April 2018 is 26.3 per cent. By property type, the ratio is 14.1 per cent for detached homes, 36.1 per cent for townhomes, and 46.7 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.

HPI benchmark price

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,092,000. This represents a 14.3 per cent increase over April 2017 and a 0.7 per cent increase compared to March 2018.

Sales of detached properties in April 2018 reached 807, a 33.4 per cent decrease from the 1,211 detached sales recorded in April 2017. The benchmark price for detached properties is $1,605,800. This represents a 5.1 per cent increase from April 2017 and a 0.2 per cent decrease compared to March 2018.

Sales of apartment properties reached 1,308 in April 2018, a 24 per cent decrease from the 1,722 sales in April 2017. The benchmark price of an apartment property is $701,000. This represents a 23.7 per cent increase from April 2017 and a 1.1 per cent increase compared to March 2018.

Attached property sales in April 2018 totalled 464, a 25.2 per cent decrease compared to the 620 sales in April 2017. The benchmark price of an attached unit is $854,200. This represents a 17.7 per cent increase from April 2017 and a 2.3 per cent increase compared to March 2018.   

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Planning to sell or buy real estate, contact Eva Li for a price consulation.

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I have listed a new property at 6350 MESA CRT in Burnaby.
A custom-built dream home by an award winning architect in the highly desirable Burnaby Lake area. This 4 bdrm 4 1/2 bath home has 3,730 sf of living space plus a 350sf workshop, sitting on a large lot (almost 10,000 sf) with gorgeous views of Northshore mountains and Burnaby mountains, and Burnaby Lake; one of the 8 homes in a quiet cul-de-sac. A solid 2 x 6 construction with custom mill work and beam ceilings sitting on the high side of the block; uniquely designed floor plan has privacy for every room; total 4 ensuite and a powder room. Gourmet kitchen overlooking to the well landscaped garden w/fish pond. Covered deck perfect for o/d entertaining. This homeis well cared for and looks just new. Steps to Elementary School, park and Burnaby Lake.
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Here below is the stat report provided by the REBGV: 

Fewer home sales and listings in the first quarter of 2018

Home buyers and sellers were less active in Metro Vancouver throughout the first quarter of 2018.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,517 in March 2018, a 29.7 per cent decrease from the 3,579 sales recorded in March 2017, and a 14 per cent increase compared to February 2018 when 2,207 homes sold.

Last month’s sales were 23 per cent below the 10-year March sales average.

There were 6,542 home sales on the Multiple Listing Service® (MLS®) in Metro Vancouver during the first quarter of 2018, a 13.1 per cent decrease from the 7,527 sales over the same period last year. This represents the region’s lowest first-quarter sales total since 2013.

“We saw less demand from buyers and fewer homes listed for sale in our region in the first quarter of the year,” Phil Moore, REBGV president said. “High prices, new tax announcements, rising interest rates, and stricter mortgage requirements are among the factors affecting home buyer and seller activity today.”

There were 4,450 detached, attached and apartment properties newly listed for sale in Metro Vancouver in March 2018. This represents a 6.6 per cent decrease compared to the 4,762 homes listed in March 2017 and a 5.4 per cent increase compared to February 2018 when 4,223 homes were listed.

There were 12,469 homes listed for sale in Metro Vancouver during the first quarter of 2018, a 0.8 per cent decrease from the 12,568 sales over the same period last year. This represents the region’s lowest first-quarter new listings total since 2013.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,380, a 10.5 per cent increase compared to March 2017 (7,586) and a 7.1 per cent increase compared to February 2018 (7,822).

“Even with lower demand, upward pressure on prices will continue as long as the supply of homes for sale remains low,” Moore said. “Last month was the quietest March for new home listings since 2009 and the total inventory, particularly in the condo and townhome segments, of homes for sale remains well below historical norms.”

For all property types, the sales-to-active listings ratio for March 2018 is 30 per cent. By property type, the ratio is 14.2 per cent for detached homes, 39.9 per cent for townhomes, and 61.6 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 MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,084,000. This represents a 16.1 per cent increase over March 2017 and a 1.1 per cent increase compared to February 2018.

Sales of detached properties in March 2018 reached 722, a decrease of 37 per cent from the 1,150 detached sales recorded in March 2017. The benchmark price for detached properties is $1,608,500. This represents a 7.4 per cent increase from March 2017 and a 0.4 per cent increase compared to February 2018.

Sales of apartment properties reached 1,349 in March 2018, a decrease of 26.7 per cent compared to the 1,841 sales in March 2017. The benchmark price of an apartment property is $693,500. This represents a 26.2 per cent increase from March 2017 and a 1.6 per cent increase compared to February 2018.

Attached property sales in March 2018 totalled 446, a decrease of 24.1 per cent compared to the 588 sales in March 2017. The benchmark price of an attached unit is $835,300. This represents a 17.7 per cent increase from March 2017 and a two per cent increase compared to February 2018.

 

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For any questions, please contact Eva Li anytime.  If you would like to obtain a stat report of a certain area, please let me know and I can arrange to email the particular report to you.   

 

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I have listed a new property at 504 55 TENTH ST in New Westminster.
Some water and city views! Bright SW facing 2 bedroom 2 full bath suite at Westminster Towers in popular downtown New Westminster. Great layout with bedrooms on separate side, ceramic tiles in kitchen, bath and hallway. Floor to ceiling windows. 2 covered balconies accessed from bedrooms. Newer kitchen counter top and appliances. One parking, no locker. Shared coin operated laundry. Repiping done 2016. Proactive strata council. 5 min walk to Skytrain and bus stop, shopping plaza, supermarket, cafe and restaurants, Douglas College and the Quay. Easy access to Surrey, Vancouver, Burnaby and Coquitlam. Pet and rental allowed.
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Home buyers were less active in February

Metro Vancouver* home sales dipped below the long-term historical average in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,207 in February 2018, a nine per cent decrease from the 2,424 sales recorded in February 2017, and a 21.4 per cent increase compared to January 2018 when 1,818 homes sold.

Last month’s sales were 14.4 per cent below the 10-year February sales average. By property type, detached sales were down 39.4 per cent over the same period, attached sales were down 6.8 per cent, and apartment sales were 5.5 per cent above the 10-year February average.

“Rising interest rates and stricter mortgage requirements have reduced home buyers’ purchasing power, particularly for those at the entry level of our market,” Jill Oudil, REBGV president said. “Even still, the supply of apartment and townhome properties for sale today is unable to meet demand. On the other hand, our detached home market is beginning to enter buyers’ market territory.”

There were 4,223 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2018. This represents a 15.2 per cent increase compared to the 3,666 homes listed in February 2017 and an 11.2 per cent increase compared to January 2018 when 3,796 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,822, a three per cent increase compared to February 2017 (7,594) and a 12.6 per cent increase compared to January 2018 (6,947).

“The spring is traditionally the busiest time for home buyers and sellers in our market. We’ll wait to see how they react to the taxes and other policy measures that our provincial and federal governments have introduced so far this year,” Oudil said. “To help you navigate these changes in today’s housing market, it’s important to work with your local REALTOR®.”

For all property types, the sales-to-active listings ratio for February 2018 is 28.2 per cent. By property type, the ratio is 13 per cent for detached homes, 37.6 per cent for townhomes, and 59.7 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 MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,071,800. This represents a 16.9 per cent increase over February 2017 and a 1.4 per cent increase compared to January 2018.

Sales of detached properties in February 2018 reached 621, a 16.6 per cent decrease from the 745 detached sales recorded in February 2017. The benchmark price for detached properties is $1,602,000. This represents an 8.2 per cent increase from February 2017 and is virtually unchanged from January 2018.

Sales of apartment properties reached 1,185 in February 2018, a 7.1 per cent decrease compared to the 1,275 sales in February 2017. The benchmark price of an apartment property is $682,800. This represents a 27.2 per cent increase from February 2017 and a 2.6 per cent increase compared to January 2018.

Attached property sales in February 2018 totalled 401, a 0.7 per cent decrease compared to the 404 sales in February 2017. The benchmark price of an attached unit is $819,200. This represents an 18.1 per cent increase from February 2017 and a 1.9 per cent increase compared to January 2018.

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The above is an article published by the Real Estate Board of Greater Vancouver today.  If you would like to obtain a market analysis report of a certain property, please contact Eva Li anytime.  

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Here below is the an announcement by the REAL ESTATE BOARD OF GREATER VANCOUVER.

Please contact Eva Li anytime for real estate related questions.

 

February 20, 2018

BC budget includes new real estate taxes and spending commitments

Housing was the dominant issue in today’s provincial budget.

The government released a 30-point housing strategy aimed at reducing housing demand, curbing tax fraud, building affordable housing, and increasing security for renters. 

New tax measures include increasing property taxes and property transfer taxes on residential properties valued above $3 million, expanding the foreign buyer tax, and implementing a housing speculation tax.

“We welcome the provincial government’s commitment to address money laundering concerns and increase the supply of affordable, social, and rental housing in our province,” Jill Oudil, Board president said. “We’re concerned, however, about the series of tax measures announced today. The budget introduces new taxes, hints at future taxes, and hikes existing taxes on housing. Taxes don’t make homes more affordable.”

Below is a summary of the key real estate measures announced today. There’s considerable information to go through. We’re analyzing each item to understand the implications to you and your clients and will report back with more information and analysis in future communications.

Affordable housing

  • The province is investing $6 billion in affordable housing to create 114,000 homes over the next 10 years.
  • The province will enhance local government capacity to build and retain affordable housing.
  • The province will require developers to collect and report comprehensive information about the assignment of pre-sale condo purchases.
  • The province intends to track beneficial ownership information.
  • The province will collect additional information to increase transparency and strengthen enforcement in real estate.

Tax measures

Speculation tax

  • The province will implement a new speculation tax on residential properties, targeting foreign and domestic homeowners who don’t pay income tax in BC. This includes those who leave homes vacant.
  • The tax will apply to the Metro Vancouver, Fraser Valley, Capital, and Nanaimo Regional districts and in the municipalities of Kelowna and West Kelowna.
  • In 2018, the tax rate will be $5 per $1,000 of assessed value. In 2019, the tax rate will rise to $20 per $1,000 of assessed value.
  • The province will administer the tax and will collect data to enforce it including, social insurance numbers, household information, and world-wide income information.

Foreign buyer tax

  • Effective Feb. 21, 2018, the foreign buyer tax will increase to 20 per cent from 15 per cent and will be extended to the Fraser Valley, Capital, Nanaimo, and Central Okanagan Regional Districts.
  • If the property is located in the Capital Regional District, Fraser Valley Regional District, Regional District of Central Okanagan, or Nanaimo Regional District, and the property transfer is registered on or after February 21, 2018, there are transitional rules available here.

Property Transfer Tax

Effective Feb. 21, 2018, the Property Transfer Tax on residential properties above $3 million will increase to five per cent from three per cent.

Provincial School Tax

Beginning in 2019, the provincial school tax will increase on most residential properties in excess of $3 million.

Database on pre-sale condo assignments

The province will require developers to collect and report comprehensive information about the assignment of pre-sale condo purchases. The information will be reported to a designated government office and shared with federal and provincial tax authorities to ensure taxes are paid.

Online accommodation PST and MRDT

Online accommodation platforms are enabled to collect and remit the Provincial Sales Tax and Municipal and Regional District Tax (Hotel Room Tax).

Property tax treatment for ALR land

As part of the Agricultural Land Reserve (ALR) review, the province is examining residential land in the ALR to ensure land is used for farming.

Clarity of property ownership

Compelling access to MLS®

The province plans to enable tax administrators to compel access to information relevant to property transfers, such as information held in a MLS® database. (We’re asking government for clarification.)

Beneficial land ownership registry

The province will require additional information about beneficial ownership on the PTT form.

Administered by the LTSA, the information will be publicly available and shared with federal and provincial tax and law enforcement authorities. Legislation will be introduced to require BC corporations to hold accurate and up to date information on beneficial owners in their own record offices available to law enforcement, tax and other authorities.

Task force on money laundering and tax evasion

The province will work with the federal government to formalize a multi-agency working group on tax evasion, money laundering and housing.

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I have sold a property at 407 5888 Dover CRES in richmond.
Top floor 1 bedroom spacious unit, enjoy spectacular water and mountain views all year round. The kitchen has been upgraded with stainless steel appliances and the unit is move in ready. Pelican Pointe is pet and rental friendly and minutes away from Richmond dyke, bus stations, and Richmond Oval. The building is well run with a live in care taker and exercise room.
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I have sold a property at 129 5880 DOVER CRES in Richmond.
Like brand NEW! Enjoy the security of established, well managed building along with all the bells & whistles of a total reno - courtyard / mtin view from covered patio. Totally gutted and redesigned suite: new flooring/ceiling, new kitchen, all new appl, new bathrooms, paint, both bdrm has walk-in closet. This is one of a kind. Large flex room (could be den/storage), and a locker. Bldg has new plumbing, metal roof, windows/doors. Amenities: gym, library, party/meeting room, lovely gardens and visitor parking. Super convenient location to everywhere, Dyke Trail, Oval, Terra-Nova, shops/restaurant. Across from the park. Easy access to Vancouver, BCIT campus, Airport. Schools: Blair Elem. and Burnett HS. No dogs, 1 cat ok. Rental is full. Quick possession ok.
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Attached and apartment homes are in demand across Metro Vancouver while detached home buyers are facing less competition today.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,818 in January 2018, a 19.4% increase from the 1,523 sales recorded in January 2017, and a -9.8% compared to December 2017 when 2,016 homes sold.


Last month’s sales were 7.1% above the 10-year January sales average. By property type, detached sales were down 24.8% from the 10-year January average, attached sales increased 14.3% and apartment sales were up 31.6% over the same period.


“Demand remains elevated and listings scarce in the attached and apartment markets across Metro Vancouver,” Jill Oudil, REBGV president said. “Buyers in the detached market are facing less competition and have much more selection to choose. For detached home sellers to be successful, it’s important to set prices that reflect today’s market trends.”


There were 3,796 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2018. This represents a -8.3% compared to the 4,140 homes listed in January 2017 and a +100.7% compared to December 2017 when 1,891 homes were listed.


The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,947, a -4% compared to January 2017 (7,238) and a -0.2% compared to December 2017 (6,958).


For all property types, the sales-to-active listings ratio for January 2018 is 26.2%. By property type, the ratio is 11.6% for detached homes, 32.8% for townhomes, and 57.2% for condominiums.


Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.


The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $1,056,500. This represents a +16.6% over January 2017 and a +0.6% compared to December 2017.


Detached home sales in January 2018 reached 487, a +9.7% from the 444 detached sales recorded in January 2017. The benchmark price for detached properties is $1,601,500. This represents a +8.3% from January 2017 and a -0.3% compared to December 2017.


Apartment home sales reached 1,012 in January 2018, a +22.7% compared to the 825 sales in January 2017. The benchmark price of an apartment property is $665,400. This represents a +27.4% from January 2017 and a +1.5% compared to December 2017.


Attached home sales in January 2018 totalled 319, a +25.6% compared to the 254 sales in January 2017. The benchmark price of an attached unit is $803,700. This represents a +17.5% from January 2017 and unchanged compared to December 2017.

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I have sold a property at 1803 511 Rochester AVE in Coquitlam.
ENCORE. Spacious one bedroom and den (could be another bedroom without window) in good condition. Electric Fireplace. Walkin closet. Big balcony. Walk to skytrain station, bus stop and Lougheed Town Centre. Minutes to Hwy 1. One U/G parking and locker included. No rental restrictions.
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The Vancouver Real Estate Market in the Year 2018 should start off Strong and Solid!  Buyers who have had their mortgages pre-approved in 2017, would have 120 days to purchase, under the old mortgage rules. Conversely, under the new 2018 mortgage rules, buyer's purchasing power will be lowered by 20%.  Those 2017 pre-approved buyers will generate an increase in home purchases in the first 3 months of the year.   

 

When you, or your friends, neighbors, who are considering of selling real estate, please contact Eva Li at 604 351-0789.   I have been selling real estate in the Greater Vancouver Area since 1990; with 28 years of valuable experience and proven track record, I can certainly provide the best service for your real estate investment.

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After reaching record levels in 2015 and 2016, Metro Vancouver home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a -9.9% from the 39,943 sales recorded in 2016, and a -15% over the 42,326 residential sales in 2015.

 

Last year’s sales total was, however, 9.7% above the 10-year sales average.

 

“It was a steady year for home sales across the region, led by condominium and townhome activity, and a quieter year for home listings,” Jill Oudil, REBGV president said. “Metro Vancouver home sales were the third highest we’ve seen in the past ten years while the home listings total was the second lowest on record for the same period.”

 

Home listings in Metro Vancouver reached 54,655 in 2017. This is a -5.1% compared to the 57,596 homes listed in 2016 and a -4.5% compared to the 57,249 homes listed in 2015.

 

Last year’s listings total was 4.4 per cent below the 10-year listings average.

 

“Market activity differed considerably this year based on property type,” Oudil said. “Competition was intense in the condominium and townhome markets, with multiple offer situations becoming commonplace. The detached home market operated in a more balanced state, giving home buyers more selection to choose from and more time to make decisions.”

 

The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,050,300. This is +15.9% compared to December 2016.

 

The benchmark price of condominiums increased 25.9% in the region last year. Townhomes increased 18.5% and detached homes increased 7.9%.

 

“Strong economic growth, low interest rates, declining unemployment, increasing wages and a growing population all helped boost home buyer demand in our region last year,” Oudil said.

December summary

Sales of detached, attached, and apartment properties totalled 2,016 in the region in December 2017, a +17.6% from the 1,714 sales recorded in December 2016 and a -27.9% compared to November 2017 when 2,795 homes sold.

 

Last month’s sales were 7.5% above the 10-year sales average for the month.

 

“As we move into 2018, REALTORS® are working with their clients to help them understand how changing interest rates and the federal government’s new mortgage qualifications could affect their purchasing power,” Oudil said. “Only time will tell what impact these rules will have on the market.

 

“Home buyers today should get pre-approved before making an offer to ensure that your home buying goals align with your financial situation,” Oudil said.

 

There were 1,891 residential homes newly listed for sale in December 2017. This represents a +44.1% compared to the 1,312 homes listed in December 2016 and a -54% compared to November 2017 when 4,109 properties were listed.

 

The total number of homes currently listed for sale on the MLS® in Metro Vancouver is 6,958, a +9.7% compared to December 2016 (6,345) and a -20.5% compared to November 2017 (8,747).

 

The sales-to-active listings ratio for December 2017 is 29%. By property type, the ratio is 14.4% for detached homes, 38.8 % for townhomes, and 59.6% for condominiums.

 

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.

 

Sales of detached properties in December 2017 reached 617, a +14% from the 541 detached sales recorded in December 2016. The benchmark price for a detached home in the region is $1,605,800. This represents a +7.9% compared to December 2016.

 

Sales of apartment homes reached 1,028 in December 2017, a +12.3% compared to the 915 sales in December 2016. The benchmark price of an apartment in the region is $655,400. This represents a +25.9% compared to December 2016.

 

Attached (or townhome) property sales in December 2017 totalled 371, a +43.8% compared to the 258 sales in December 2016. The benchmark price of an attached home in the region is $803,700. This represents an +18.5% compared to December 2016.

 

Buying or Sellling Real Estate, contact Eva Li 604-351-0789 

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Metro Vancouver* saw modest home listing changes and steady demand in November.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016, and a 7.5 per cent decrease compared to October 2017 when 3,022 homes sold.

Last month’s sales were 17 per cent above the 10-year November sales average.

“We’re seeing steady demand in today’s market. Home buyer activity is operating above our long-term averages, particularly in our townhome and condominium markets,” Jill Oudil, REBGV president said.

There were 4,109 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2017. This represents a 30.6 per cent increase compared to the 3,147 homes listed in November 2016 and a 9.5 per cent decrease compared to October 2017 when 4,539 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,747, a 4.3 per cent increase compared to November 2016 (8,385) and a 4.3 per cent decrease compared to October 2017 (9,137).

“While we’re seeing more listings enter the market today than we saw at this time last year, we have a long way to go before our home listing inventory rises back to more historically typical levels,” Oudil said.

The sales-to-active listings ratio for November 2017 is 32 per cent, which is up three per cent since September 2017. By property type, the ratio is 15.9 per cent for detached homes (up one per cent since September 2017), 36.4 per cent for townhomes (down six per cent since September 2017), and 67.8 per cent for condominiums (up seven per cent since September 2017).

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 MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,046,900. This represents a 14 per cent increase over November 2016 and a 0.4 per cent increase compared to October 2017.

Sales of detached properties in November 2017 reached 841, a 31.8 per cent increase from the 638 detached sales recorded in November 2016. The benchmark price for detached properties is $1,608,000. This represents a 6.1 per cent increase from November 2016 and a 0.1 per cent decrease compared to October 2017.

Sales of apartment properties reached 1,508 in November 2017, a 25.7 per cent increase compared to the 1,200 sales in November 2016. The benchmark price of an apartment property is $648,200. This represents a 23.9 per cent increase from November 2016 and a one per cent increase compared to October 2017.

Attached property sales in November 2017 totalled 446, an 18.6 per cent increase compared to the 376 sales in November 2016. The benchmark price of an attached unit is $805,200. This represents a 17.9 per cent increase from November 2016 and a 0.3 per cent increase compared to October 2017.


Buying or Selling Real Estate, contact Eva Li 604-351-0789

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The real estate market hasn't slowed down in spite of the cold weather.  Last weekend, while I was exploring some open houses with a potential buyer, I'd found that all the open houses which we attended were packed with potential buyers.  

The market is definitely short of supplies, i.e. more listings are needed to fulfill the high demands.  


Are you planning to put your properties up for sale in the next couple of weeks?  Are you planning to find out more info about the market trends of a certain neighborhood?  


Please feel free to contact me anytime by phone /text 604-351-0789 or email me at Eva@EvaLi.ca   

I am here to help and answer your real estate related questions.

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I have sold a property at 1706 9521 CARDSTON CRT in Burnaby.
Enjoy the security of well managed building along with all the bells & whistles of a total renovation. Corner suite with lots of windows. Southeast exposure, amazing city, mountain & water view - walk to skytrain, Lougheed Mall & all amenities. Fully reconfigured 886 sf 2 bedroom suite into a luxurious, 1 bedrm w/easy provision to revert to a 2 bedroom or 1 bedroom +den. Very unique design for comfort loving. The only suite in the building w/ 2 full baths (instead of 1.5) & built-in air conditioning. Lots of maple kitchen cabinets incl pantry, smooth-top countertop range & mounted microwave /convection oven. Tile floors throughout, designer paint, lovely baths, insuite laundry & satellite friendly. Building renewal project done. Great building amenities - sauna, gym, & outdoor swimming pool. No pets, rentals ok. 2 side by side u/g parking stalls and a locker. Quick possession ok.
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I have sold a property at 3712 13696 100TH AVE in Surrey.
Park Ave West by Concord Pacific. Sunny and bright NE facing 2 bedroom corner suite with panoramic view of mountain and city. View from every room. Great layout with no wasted space. Large covered 120' balcony. Brand new suite with GST paid. Open kitchen features marble tile backsplash, engineered HW flooring and quartz countertops, European brand integrated applicance. 5 star amenities. 24 hr concierge service. Steps to Surrey Central Mall, King George Skytrain, SFU campus. 1 parking and locker included.
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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 totaled 3,022 in October 2017, a +35.3% from the 2,233 sales recorded in October 2016, and a +7.1% compared to September 2017 when 2,821 homes sold.


Last month’s sales were +15% 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% compared to the 3,981 homes listed in October 2016 and a -15.6% 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% compared to October 2016 (9,143) and a -3.5% compared to September 2017 (9,466).


For all property types, the sales-to-active-listings ratio for October 2017 is 33.1%. By property type, the ratio is 16.8% for detached homes, 44.8% for townhomes, and 66% for condominiums.


Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.


“The growth in our provincial economy and the 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% over October 2016 and a +0.5% compared to September 2017.


Sales of detached properties in October 2017 reached 940, a +44.2% from the 652 detached sales recorded in October 2016 and a -34.6% from the 1,437 sales in October 2015. The benchmark price for detached properties is $1,609,600. This represents a +4% from October 2016 and a -0.5% compared to September 2017.


Sales of apartment properties reached 1,532 in October 2017, a +30.1% compared to the 1,178 sales in October 2016 and a -0.7% from the 1,543 sales in October 2015. The benchmark price of an apartment property is $642,000. This represents a +22.7% from October 2016 and a +1% compared to September 2017.


Attached property sales in October 2017 totaled 550, a +36.5% compared to the 403 sales in October 2016 and a -17.4% from the 666 sales in October 2015. The benchmark price of an attached unit is $802,400. This represents a +17.7%e from October 2016 and a +2% compared to September 2017.

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