Blog › September 2015

New Listing 3620 Carolina Street, Vancouver, BC

R2004819 - 3620 Carolina Street, Vancouver, BC, CANADAView my new listing for sale at 3620 Carolina Street, Vancouver and currently listed at $988,000.

CEDAR COTTAGE - quiet street. Attention first time buyers/investors!!! Affordable, cute & cozy 4 bedroom home in central location. Newer roof (7 years old), newer laminate and tiles. Double glass window in master bedroom. Fig and Asian pear tress. A short walk to Fraser Street. 2 bedroom suite. 1/2 block to park, shops, Sir Charles Tupper Secondary & David Livingston Elementary Schools. Only minutes from downtown & transportation. In good condition. Buyer to verify if important. OPEN HOUSE November 7th 11am-1pm. Please confirm attendance at open house if possible by texting.

Recently Sold Listing 2775 W 22nd Avenue, Vancouver, BC

V1138430 - 2775 W 22nd Avenue, Vancouver, BC, CANADAI have just recently sold this listing at 2775 W 22nd Avenue, Vancouver.

Recently Sold Listing 116 W 43rd Avenue, Vancouver, BC

V1142517 - 116 W 43rd Avenue, Vancouver, BC, CANADAI have just recently sold this listing at 116 W 43rd Avenue, Vancouver.

Condos Accelerating Growth in BC Home Building Investment

Multi-family building spend in the province catching up to detached home construction investment, reports statistics agency 

Multifamily home construction

Investment in BC home building continued to climb – and increase its rate of growth – rising nearly 19 per cent year over year in July to $731 million, according to Statistics Canada data published September 22.

As has been the recent trend, apartment-condo construction led the investment growth in BC, rising 32.3 per cent compared with July 2014 to a total of $306 million – almost catching up with single-family home investment. 

The province’s detached home construction spend also increased, although at a slower growth rate, with the $331 million of investment an 11.9 per cent rise over the same month last year.

Townhome and row home construction investment in BC continued to rise steadily, increasing 14.4 per cent year over year to $64 million in July.

Bucking the recent trend, the only properties to see a reduction in construction investment in July were duplexes, spending on which fell 6.3 per cent year over year to $29 million.

The province’s total $731 million new home construction spend was again the third highest total in the country, after Ontario and Alberta. BC’s home investment growth rate was also Canada’s third highest, after spending surges in July in the Northwest Territories and Nova Scotia (up 65.9 and 27.8 per cent year over year respectively).

As with previous months, increases in new home spending nationwide were much more muted than those seen in BC. Investment in new home construction across Canada totalled $4.2 billion in July, up a meagre 0.5 per cent from the same month a year earlier.

As with BC, Statistics Canada reported that the increase came mostly from higher investment in apartment and condominium building construction, up 17.5 per cent to $1.4 billion, as well as higher spending on row house construction, up 6.3 per cent to $395 million.

Single-family home and duplex construction across Canada again both saw year-over-year declines in construction investment, falling 7.4 and 15.8 per cent respectively. However, detached homes saw the biggest total investment in July at $2.1 billion.

To see Statistics Canada’s interactive chart, click here

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New Listing 121 - 8600 General Currie Road, Richmond, BC

R2004181 - 121 - 8600 General Currie Road, Richmond, BC, CANADAView my new listing for sale SOLD at 121 - 8600 General Currie Road, Richmond and currently listed at $267,750.SOLD

This QUIET, CORNER 2 Bedroom, 2 bathroom condo is ABOVE GROUND with a nice balcony and gas fireplace. There is a pride of ownership at the Monterey where the grounds look like a resort & the adult (19+) building is full of friendly neighbors. Being an end unit, there are extra West facing windows for added light. Both bedrooms & bathrooms are generous with the Master having a walk-in closet & ensuite. The IN-SUITE STORAGE & LAUNDRY makes life easy. BBQ on your balcony while enjoying the GARDEN VIEW. Transit is at your doorstep with shops nearby: leave your car in your underground, secured PARKING space. XL fitness centre. Guests will love the FREE visitor parking! Call to view by appointment.

BC to See Canada’s Biggest Rises in Home Sales Activity and Prices

In national forecast for real estate market, British Columbia singled out as province expected to continue outpacing all others in sales and house price growth

Home for sale sold signBritish Columbia is projected to post by far the largest annual increase in MLS home sales in 2015, a rise of 18.1 per cent, according to the Canadian Real Estate Association (CREA).

The CREA revised its forecast for national sales in 2015 slightly upwards September 14, which it said reflected stronger-than-anticipated activity in BC and Ontario. National sales are now projected to rise by 3.3 per cent to 495,800 units this year, which would make 2015 the second strongest year on record for home sales in Canada.

Alberta, Saskatchewan and Nova Scotia are expected to post the largest annual sales declines (down 21.6 per cent, 12 per cent and 12.1 per cent respectively), with the Prairie provinces hard-hit by the decline in oil prices.

The forecast for national average home price growth has been revised up slightly to $433,600 in 2015, representing an annual increase of 6.2 per cent. The CREA’s upward revision reflects higher price gains in British Columbia and Ontario.

British Columbia is expected to be the only province in 2015 where the average home price rises faster than the national average at 8.5 per cent.

For 2016, the CREA predicts that national sales will total 495,000.

The report said, “Activity gains in Quebec and some improvement in Prairie provinces are expected to offset a slight cooling for activity in BC and Ontario, where affordability for single family home buyers is anticipated to become strained.”


New Listing 506 - 139 W 22nd Street, North Vancouver, BC

R2000920 - 506 - 139 W 22nd Street, North Vancouver, BC, CANADAView my new listing for sale SOLD at 506 - 139 W 22nd Street, North Vancouver and currently listed at $499,000.SOLD

GREAT BUILDING. Polygon's "Anderson Walk" designed by award winning architects Raymond Letkeman. Corner, top floor, SE facing unit (with 2-5-10 Home Warranty) has 2 bedrms & 2 baths, master spa ensuite w/ double sinks. Gourmet kitchen with high-end S/S appliances, halogen lights, oak cabinetry, granite counter-tops & glass tile back splashes. Soaring ceilings. In Floor Radiant Heat, Visitor Parking. Secure Outdoor patio w/ STUNNING views. Walk-in closet, heated flrs, guest suite $50/night & in-suite laundry. Amenities incl. fitness studio, guest suite, social room & courtyard. Pets allowed, 1 block from vibrant Lonsdale & great restaurants, shopping, w/ easy access to transit.Perfect location, exposure! 1 parking & 1 locker. Fully equipped gym. Buyer to verify meas. Tenanted until March 1

August Rounds Out Summer of Scorching Home Sales Across BC

Resale transactions across province up 20 per cent year over year, prices up 10.6 per cent, reports association

Home for sale sold

Residential real estate sales in August completed a summer characterized by hot weather in the province and an even hotter market, according to the latest statistics issued September 11 by the British Columbia Real Estate Association (BCREA)

There were 8,811 residential unit sales recorded by the Multiple Listing Service (MLS) in August, up 20 per cent from the same month last year.

Total sales dollar volume was $5.5 billion, a 32.8 per cent increase on August 2014. This jump is due to the average MLS residential price in the province rising to $619,881, up 10.6 per cent year over year.

“Housing demand continued at an elevated level in August,” said Cameron Muir, BCREA chief economist. “More homes were sold in BC during the first eight months of the 2015 than in the whole of 2012.” A total of 67,637 BC homes were sold on the MLS in 2012, compared with 70,617 year-to-date in August 2015.

South Okanagan and the Fraser Valley were two boards in the province to see the highest sales growth, both up 33.1 per cent compared with last August.

The BC Northern region was the only board in BC to see an annual decline in unit sales, down 0.7 per cent year over year. However, this is a huge improvement on last month’s 12.5 per cent annual drop.

The Northern Lights board registered the province’s largest annual price drop, with the average price of a home in that region falling 9.2 per cent in August compared with the same month in 2015.

Greater Vancouver’s reported annual price rise of 12.2 per cent was the largest in BC, and its sales-to-active-listings ratio was the province’s highest, meaning that Greater Vancouver is currently deepest into sellers’ market territory.


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New Listing 116 W 43rd Avenue, Vancouver, BC

V1142517 - 116 W 43rd Avenue, Vancouver, BC, CANADAView my new listing for sale SOLD at 116 W 43rd Avenue, Vancouver and currently listed at $2,288,000.SOLD

Cute family home in Oakridge. RS-1 zoned on a 46.5' x 121.81' flat lot with no big trees. Southern exposed backyard w/ single car garage. House was built in 1947 with many updates over the years. Main floor: living rm, dining rm, updated kitchen w/eating area, bdrm, new bathroom, and hardwood floors throughout. Up: Mstr bdrm w/den, bdrm & full washroom. Down: Rec rm, bdrm, laundry & utilities. 5 min walk to Langara College, Oakridge Shopping center, and Canada line. Great opportunity to buy, live in/rent out, or build a nice big new home. Van Horne Elementary & Hamber High School catchments. Open Sat/Sun Sept 12 & 13, 2-4pm.

August Ends Sizzling Summer for Vancouver Real Estate

MLS home sales between 25 and 30 per cent above the 10-year average from June to August, according to Real Estate Board of Greater Vancouver

Vancouver Yaletown park

It’s been a scorching summer for real estate in Greater Vancouver, with MLS home sales between 25 and 30 per cent above the 10-year average from June to August, according to Real Estate Board of Greater Vancouver (REBGV) figures released September 2.

Resale transactions were up 21.3 per cent annually in August and prices up 12 per cent compared with August 2014.

However, this was the second consecutive monthly drop following June’s huge figures, with sales down 15.5 per cent since July, revealing some seasonal decline.

Nevertheless, last month’s sales were 27.9 per cent above the 10-year sales average for the month.

Darcy McLeod, REBGV president, said, “There was no summer lull in our market this year.”

Resale home prices continued to beat previous records, with the benchmark price of a Greater Vancouver home now at $708,500. This is a 12 per cent increase compared with July 2014.

Sales and Listings

Greater Vancouver home sales rose 21.3 per cent to 3,362 units in August, compared with the 2,771 sales of August 2015. This is a drop of 9.1 per cent compared with the 3,978 sales in July 2015.

What's Up, What's Down - At a Glance
 Aug/Jul 15Aug 15/14
Overall Sales -15.5% +21.3%
- Detached -17.2% +11.4%
- Attached -16.2% +18.7%
- Apartment -13.6% +32.7%
New Listings -16.2% +8.7%
Current Listings -5.3% -26.2%


Broken down by housing type, detached home sales reached 1,290 units in August, an increase of 11.4 per cent from the 1,158 detached sales recorded in August 2014.

Condo-apartment sales once again saw the biggest annual rise, reaching 1,494 in August 2015, a rise of 32.7 per cent compared with the 1,126 sales in August 2014, reflecting the growth in this market segment.

Sales of townhouses and other attached properties totalled 578 in August, an increase of 18.7 per cent compared with the 487 sales in August 2014.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,281 in August. This represents an 8.7 per cent increase compared to the 3,940 new listings in August 2014 but a 16 per cent drop compared with the 5,112 new listings in July.

Total listings remained extremely tight, with the number of properties listed on the MLS at the end of August standing at 10,897, a 26.2 per cent decrease compared with August 2014 and a 5.3 per cent decline compared with July 2015.

“Home buyers … are motivated, but they’re competing for a smaller supply of homes for sale than is typical for this time of year – that’s the dynamic driving our market right now,” said McLeod.

The sales-to-active-listings ratio in August 2015 was 30.9 per cent. The board said that this is the sixth consecutive month that this ratio has been above 30 per cent in Metro Vancouver, meaning that the sellers’ market conditions are persisting.

“Those who have a sound buying strategy and an understanding of current price trends are having the most success in today’s market,” McLeod added.

Benchmark Prices (MLS Home Price Index)

The benchmark price for combined MLS residential property types in Metro Vancouver continued to set its monthly new record, now standing at $708,500. This represents a 12 per cent increase compared with August 2014.

The benchmark price for a detached property in Metro Vancouver increased 17.5 per cent from August 2014 to $1,159,600, the highest price growth rate of all the property types.

Townhome and other attached unit prices increased 7.3 per cent between August 2014 and 2015 to $511,500, which was no increase over July's figure.

The benchmark price of a condominium-apartment property continued to increase at the slowest rate, albeit an increasing one, rising 6.3 per cent compared with August 2014 to $405,400.

The composite benchmark prices by housing type are:

Greater Vancouver MLS® Benchmark Prices % Change
 Aug 2015Aug/Jul 15Aug 15/14
Detached $1,159,000 +1.6% +17.5%
Townhome $511,500 +0.0% +7.3%
Apartment $405,400 +1.1% +6.3%


Home prices vary widely throughout the REBGV region. To get a good idea of home prices in a specific location, check the detailed MLS Home Price Index in the REBGV full statistics package.

  • The Real Estate Board of Greater Vancouver covers Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge and South Delta.
  • The board covers only homes being resold through the Multiple Listing Service, and does not record sales of newly built homes unless they are listed with the MLS, so the house prices in the Home Price Index don't reflect all of the residential real estate sold in the area.

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New Listing 708 E 12th Avenue, Vancouver, BC

V1141896 - 708 E 12th Avenue, Vancouver, BC, CANADAView my new listing for sale at 708 E 12th Avenue, Vancouver and currently listed at $688,000.

QUIET half-duplex on back side with great floor plan, single garage & private garden. Better than a condo, NO STRATA FEES! Spacious 3 bedrooms & 2 baths up plus a powder room on main floor where there is also a large kitchen with bay window, an open living / dining room with patio doors that open onto a lovely, private garden. Skylights, tile roof, gas fireplace, a detached car garage. All measurements approx, buyer to verify if necessary. This one won't last! Call, text, or email to view.