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New Listing 115 Mountain Drive, Lions Bay, BC


R2324140 - 115 Mountain Drive, Lions Bay, BC, CANADAView my new listing for sale at 115 Mountain Drive, Lions Bay and currently listed at $1,188,000.

367K UNDER Tax Assessment. GREAT VALUE in Lions Bay. Needs to be completely RENOVATED or build new. Enjoy SW ocean/island views from this contemporary style home in a private quiet setting nestled within trees and gorgeous greenery Large lot. It's walking distance to a highly rated elementary school. This home boasts 4 bedrooms, 3 bathrooms, a large family room, recreation room, very private office, large storage room, laundry room, and two brick wood burning fireplaces; perfect for the growing family. The built-in 2 car garage is just paved FLAT parking for 4 or more vehicles. Enjoy the quite serenity of Lions Bay in your dream home! Great opportunity Ideal for developer, owner-builder and/or renovator.

New Listing 4 - 1350 W 14th Avenue, Vancouver, BC


R2322643 - 4 - 1350 W 14th Avenue, Vancouver, BC, CANADAView my new listing for sale at 4 - 1350 W 14th Avenue, Vancouver and currently listed at $2,588,000.

SOUTH GRANVILLE - 1 level residence – the entire floor of an exclusive 12 unit concrete high rise in the unique “Waterford”. Direct access from the elevator to your secure 2,627 sf home. Elegantly finished and generous enough in size to accommodate house-sized living & dining room furniture. 3 bedrooms, 2-1/2 bathrooms, 2 fireplaces, 2 balconies – one off the living room and one off the master bedroom – plus enclosed South facing solarium overlooking the pool & spa. BONUS – 3 owner parking stalls & 10 visitor stalls. Pets (1 pet allowed )and rentals allowed w/ restrictions. *Note: Approximately $700 of the Monthly Strata Fees go directly into the Contingency Reserve fund.

New Listing 1802 - 3771 Bartlett Court, Burnaby, BC


R2321181 - 1802 - 3771 Bartlett Court, Burnaby, BC, CANADAView my new listing for sale at 1802 - 3771 Bartlett Court, Burnaby and currently listed at $399,900.

SAVOUR SUNSETS & VIEWS from your 195sqft wrap around patio in this 688 sqft UPDATED 1 bedroom, 1 bath, spacious condo in the coveted Timberlea development. Enjoy living within walking distance to the skytrain, transit, parks, restaurants, & shopping! This unit has 1 underground secured parking & 1 storage. Your inner chef will love the recently updated kitchen with stainless steel appliances and plenty of cupboard space (approximately $25,000 renovation). This bright suite has an excellent layout. The Master bedroom has 2 closets! The spacious living and dining area are surrounded by windows to enjoy the views and privacy. No rentals. Pets allowed (see bylaws). Showings by appointment as open houses are not allowed.

New Listing 706 - 198 Aquarius Mews, Vancouver, BC


R2319031 - 706 - 198 Aquarius Mews, Vancouver, BC, CANADAView my new listing for sale at 706 - 198 Aquarius Mews, Vancouver and currently listed at $1,968,000.

Aquarius - Marinaside Waterfront. Perfect family home in vibrant Yaletown. Never lived in, completely remodeled & rebuilt from the studs-out (2018). 2 beds + den (can easily be 3) & 2 baths. LARGE master w/ 5 piece ensuite with double sinks, marble countertop, floor to ceiling large format Italian tile, rain shower & free standing bathtub. Open concept floor plan w/ new kitchen, counter-tops, built in Bosch appliances & 2nd bathroom w/ high end finishes. “Floor to ceiling" windows, gas fireplace, balcony, huge storage & more. Enjoy World Class, resort-style amenities with 24-hour concierge ,indoor pool, sauna/steam room, gym, theatre, lounge & BBQ area in the private garden. Locker #161 & LARGE parking stall #342.

Supply and Demand in the Real Estate Market


Having an abundance of buyers in the market with fewer sellers will put pressure on the market. This scenario tends drive prices up as there will likely be biding wars due to low inventory levels relative to the number of buyers looking to purchase. We'll see people outbidding eachother and pushing prices up. This has been a problem for the last number of years with real estate in the Vancouver area, as there has not been enough supply.

Now we're seeing more supply come to the market. The government has implemented new rules for mortgage qualifications, making it more difficult for people to borrow money. We now also have the foreign buyer’s tax, schoo taxl, empty home tax, and speculation tax; the list goes on and on. Coupled with rising interest rates, we've seen the real estate landscape soften somewhat.

Last time we saw a slow down was in 2008/2009 and anyone who bought then has done very, very well. Warren Buffet continues to say, “Be fearful when others are buying and buy when others are fearful”. It’s a great time to buy long term in Vancouver. We're seeing more inventory come on the market, which is allowing buyers more time to purchase. 

Watch the video below to learn more.



Recently Sold Listing 214 131 W 4TH STREET, North Vancouver, BC


R2310921 - 214 131 W 4TH STREET, North Vancouver, BC, CANADAI have just recently sold this listing at 214 131 W 4TH STREET, North Vancouver.

New Listing 4 - 1350 W 14th Avenue, Vancouver, BC


R2316846 - 4 - 1350 W 14th Avenue, Vancouver, BC, CANADAView my new listing for sale at 4 - 1350 W 14th Avenue, Vancouver and currently listed at $2,798,000.

SOUTH GRANVILLE - 1 level residence – the entire floor of an exclusive 12 unit concrete high rise in the unique “Waterford”. Direct access from the elevator to your secure 2,627 sf home. Elegantly finished and generous enough in size to accommodate house-sized living & dining room furniture. 3 bedrooms, 2-1/2 bathrooms, 2 fireplaces, 2 balconies – one off the living room and one off the master bedroom – plus enclosed South facing solarium overlooking the pool & spa. BONUS – 3 owner parking stalls & 10 visitor stalls. Pets (1 pet allowed )and rentals allowed w/ restrictions. *Note: Approximately $700 of the Monthly Strata Fees go directly into the Contingency Reserve Fund. OPEN HOUSE Sat NOV 10th 1230-130pm

September 2018 | Vancouver Real Estate Stats Summary


 

Each month Jamie gives us a video breakdown of what's happening in the Vancouver Real Estate Market, including Downtown, Vancouver Westside, Eastside, Richmond and Ladner.

 

 

To summarize, townhouses and condos are showing some softening where detached homes are softer than they’ve been in the last 27 years. With Canadian interest rates on the rise, school taxes, empty home taxes, and an increase on the property transfer tax of luxury homes, we're seeing a lot of government intervention that has been designed to slow the market. This should provide new opportunities for buyers to purchase at a decent price. See velow for detailed real estate statistics for the Lower Mainland.

 

Vancouver Real Estate Statistics

Vancouver Downtown

  • Market Type Indicator VANCOUVER DOWNTOWN ATTACHED: Balanced Market at 17% Sales Ratio average (1.7 in 10 Homes selling rate)
  • Homes are selling on average 3% below list price
  • Most Active Price Band** $400,000 to $500,000 with average 38% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes m inim um $5 m il, Coal Harbour and 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Yaletown and up to 1 bedroom properties

**With minimum inventory of 10 in most instances

Vancouver Westside

  • Market Type Indicator VANCOUVER WESTSIDE DETACHED: Buyers Market at 5% Sales Ratio average (5 in 100 Homes selling rate)
  • Homes are selling on average 6% below list price
  • Most Active Price Band** $2.5 mil to $2.75 mil with average 24% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $3.5 mil to $4 m il, South Granville and minimum 5 bedroom properties
  • Sellers Best Bet** Selling Homes in Kerrisdale, Oakridge and 3 to 4 bedroom properties

**With minimum inventory of 10 in most instances

  • Market Type Indicator VANCOUVER WESTSIDE ATTACHED: Balanced Market at 14% Sales Ratio average (1.4 in 10 Homes selling rate)
  • Homes are selling on average 4% below list price
  • Most Active Price Band** $400,000 to $600,000 with average 30% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.75 mil to $2 m il, Cam bie, Kerrisdale, Shaughnessy, South Granville and 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Kitsilano, Mount Pleasant and up to 1 bedroom properties

**With minimum inventory of 10 in most instances

Vancouver Eastside

  • Market Type Indicator VANCOUVER EASTSIDE DETACHED: Buyers Market at 9% Sales Ratio average (9 in 100 Homes selling rate)
  • Homes are selling on average 3% below list price
  • Most Active Price Band** $1 mil to $1.25 mil with average 31% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $2.75 mil to $3 m il, Collingwood, Fraserview, South Vancouver and Victoria
  • Sellers Best Bet** Selling Homes in Killarney and 3 to 4 bedroom properties

**With minimum inventory of 10 in most instances

  • Market Type Indicator VANCOUVER EASTSIDE ATTACHED: Sellers Market at 22% Sales Ratio average (2.2 in 10 Homes selling rate)
  • Homes are selling on average 2% below list price
  • Most Active Price Band** $500,000 to $600,000 with average 29% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 mil, Downtown, Fraserview, Renfrew, Victoria and 2 bedroom properties
  • Sellers Best Bet** Selling Homes in Fraser, Grandview, Hastings East, Main and up to 1 bedroom properties

**With minimum inventory of 10 in most instances

Richmond

  • Market Type Indicator RICHMOND DETACHED: Buyers Market at 8% Sales Ratio average (8 in 100 Homes selling rate)
  • Homes are selling on average 9% below list price
  • Most Active Price Band** $1 mil to $1.25 mil with average 36% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.75 mil to $2 mil and $2.5 mil to $2.75 mil, Ironwood and up to 2 bedroom properties
  • Sellers Best Bet** Selling Homes in Hamilton, McLennan North, Steveston Village and 3 to 4 bedroom properties

**With minimum inventory of 10 in most instances

  • Market Type Indicator RICHMOND ATTACHED: Balanced Market at 14% Sales Ratio average (1.4 in 10 Homes selling rate)
  • Homes are selling on average 1% below list price
  • Most Active Price Band** $300,000 to $400,000 with average 64% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 m il, Bridgeport and minimum 4 bedroom properties
  • Sellers Best Bet** Selling Homes in Steveston South and up to 1 bedroom properties

**With minimum inventory of 10 in most instances

Ladner

  • Market Type Indicator LADNER DETACHED: Balanced Market at 12% Sales Ratio average (1.2 in 10 Homes selling rate)
  • Homes are selling on average 1% below list price
  • Most Active Price Band** $800,000 to $900,000 with average 25% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 m il, Neilsen Grove and 3 to 4 bedroom properties
  • Sellers Best Bet** Selling Homes in Holly and 5 to 6 bedroom properties

**With minimum inventory of 10 in most instances

  • Market Type Indicator LADNER ATTACHED: Sellers Market at 32% Sales Ratio average (3.2 in 10 Homes selling rate)
  • Homes are selling on average 100% of list price
  • Most Active Price Band** $800,000 to $900,000 with average 50% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $500,000 to $600,000, Ladner Elementary and 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Neilsen Grove and m inimum 4 bedroom properties

**With minimum inventory of 10 in most instances



New Listing 115 Mountain Drive, Lions Bay, BC


R2313357 - 115 Mountain Drive, Lions Bay, BC, CANADAView my new listing for sale at 115 Mountain Drive, Lions Bay and currently listed at $1,288,000.

GREAT VALUE in Lions Bay. Needs to be completely RENOVATED or build new. Enjoy SW ocean/island views from this contemporary style home in a private quiet setting nestled within trees and gorgeous greenery Large lot. It's walking distance to a highly rated elementary school. This home boasts 4 bedrooms, 3 bathrooms, a large family room, recreation room, very private office, large storage room, laundry room, and two brick wood burning fireplaces; perfect for the growing family. The built-in 2 car garage is just paved FLAT parking for 4 or more vehicles. Enjoy the quite serenity of Lions Bay in your dream home! Great opportunity Ideal for developer, owner-builder and/or renovator.

Recently Sold Listing PH7 - 1040 Pacific Street, Vancouver, BC


R2300561 - PH7 - 1040 Pacific Street, Vancouver, BC, CANADAI have just recently sold this listing at PH7 - 1040 Pacific Street, Vancouver.