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Posted in Oakridge VW, Vancouver West Real Estate
Open House. Open House on Saturday, September 16, 2023 2:00PM - 4:00PM

Please visit our Open House at 81 45TH AVE W in Vancouver. See details here

Open House on Saturday, September 16, 2023 2:00PM - 4:00PM

Fantastic FAMILY home with 4 big bedrooms + 2 bath upstairs, including a Primary bedroom with cozy wood burning fireplace & full ensuite. Main floor features an updated cooks kitchen with huge entertainment sized island & quality appliances. Bright open plan with soaring vaulted ceilings on the main & beautiful hardwood floors + 2 gas fireplaces. Spacious family room. Outside features a double garage with an excellent studio or "man cave" space in the attic plus a 3 piece bath. Located in the heart of Oakridge with easy access to transportation, the Canada Line, parks & soon to excellent shopping in the newly built Oakridge Park development. Van Horne Elementary & Eric Hamber High school. This a MUST SEE!

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Posted in Oakridge VW, Vancouver West Real Estate
Open House. Open House on Sunday, September 17, 2023 2:00PM - 4:00PM

Please visit our Open House at 81 45TH AVE W in Vancouver. See details here

Open House on Sunday, September 17, 2023 2:00PM - 4:00PM

Fantastic FAMILY home with 4 big bedrooms + 2 bath upstairs, including a Primary bedroom with cozy wood burning fireplace & full ensuite. Main floor features an updated cooks kitchen with huge entertainment sized island & quality appliances. Bright open plan with soaring vaulted ceilings on the main & beautiful hardwood floors + 2 gas fireplaces. Spacious family room. Outside features a double garage with an excellent studio or "man cave" space in the attic plus a 3 piece bath. Located in the heart of Oakridge with easy access to transportation, the Canada Line, parks & soon to excellent shopping in the newly built Oakridge Park development. Van Horne Elementary & Eric Hamber High school. This a MUST SEE!

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Home prices continue to rise in Metro Vancouver’s housing market to kick off the summer...

VANCOUVER, BC – July 5, 2023 – Continuing the trend that has emerged in the housing market this year, the benchmark price for all home types in Metro Vancouver1 increased in June as home buyer demand butted up against a limited inventory of homes for sale in the region.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales2 in the region totalled 2,988 in June 2023, a 21.1 per cent increase from the 2,467 sales recorded in June 2022. This was 8.6 per cent below the 10-year seasonal average (3,269).

“The market continues to outperform expectations across all segments, but the apartment segment showed the most relative strength in June,” Andrew Lis, REBGV’s director of economics and data analytics said. “The benchmark price of apartment homes is almost cresting the peak reached in 2022, while sales of apartments are now above the region’s ten-year seasonal average. This uniquely positions the apartment segment relative to the attached and detached segments where sales remained below the ten-year seasonal averages.”

There were 5,348 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2023. This represents a 1.3 per cent increase compared to the 5,278 homes listed in June 2022. This was 3.1 per cent below the 10-year seasonal average (5,518).

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,990, a 7.9 per cent decrease compared to June 2022 (10,842) This was 17.4 per cent below the 10-year seasonal average (12,091).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for June 2023 is 31.4 per cent. By property type, the ratio is 20.9 per cent for detached homes, 38.5 per cent for townhomes, and 39.4 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Despite elevated borrowing costs, there continues to be too little resale inventory available relative to the pool of buyers in Metro Vancouver. This is the fundamental reason we continue to see prices increase month over month across all segments,” Lis said. “With the benchmark price for apartments now standing at $767,000, we repeat our call to the provincial government to adjust the $525,000 threshold exempting first-time home buyers from the Property Transfer Tax to better reflect the price of entry-level homes in our region. This is a simple policy adjustment that could help more first-time buyers afford a home right now.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,203,000. This represents a 2.4 per cent decrease over June 2022 and a 1.3 per cent increase compared to May 2023.

Sales of detached homes in June 2023 reached 848, a 28.3 per cent increase from the 661 detached sales recorded in June 2022. The benchmark price for a detached home is $1,991,300. This represents a 3.2 per cent decrease from June 2022 and a 1.9 per cent increase compared to May 2023.

Sales of apartment homes reached 1,573 in June 2023, an 18.6 per cent increase compared to the 1,326 sales in June 2022. The benchmark price of an apartment home is $767,000. This represents a 0.5 per cent increase from June 2022 and a 0.8 per cent increase compared to May 2023.

Attached home sales in June 2023 totalled 547, a 17.6 per cent increase compared to the 465 sales in June 2022. The benchmark price of an attached home is $1,098,900. This represents a one per cent decrease from June 2022 and a 1.5 per cent increase compared to May 2023.

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1. Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

2. REBGV is now including multifamily and land sales and listings in this monthly report. Previously, we only included detached, attached, and apartment sales, and these additional categories, which typically account for roughly one to two per cent of total MLS® activity per month, are being included for completeness in our reporting.

The Real Estate Board of Greater Vancouver is an association representing more than 15,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

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Posted in Mount Pleasant VW, Vancouver West Real Estate
We just sold a property at 233 11TH AVE W in Vancouver

We have just sold a property at 233 11TH AVE W in Vancouver.
See details here
Rare opportunity in Mount Pleasant! Beautiful 2 bedroom 2 bath townhome on the prettiest street in the area! Built by Georgie award winner, Handmade Development. Open floor plan, stunning kitchen,vaulted ceilings,fireplace and more! Completely renovated in 2021 with high quality finishes! Enjoy City and mountain views from two outdoor patios including the amazing main-level entertainment sized deck. All this in a very private/quiet & secluded location! Walking distance to shopping, coffee shops, Canada Line, City Hall, VGH and more!
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Posted in Mount Pleasant VW, Vancouver West Real Estate
New property listed in Mount Pleasant VW, Vancouver West

We have just listed a new property at 233 11TH AVE W in Vancouver.
See details here
Rare opportunity in Mount Pleasant! Beautiful 2 bedroom 2 bath townhome on the prettiest street in the area! Built by Georgie award winner, Handmade Development. Open floor plan, stunning kitchen,vaulted ceilings,fireplace and more! Completely renovated in 2021 with high quality finishes! Enjoy City and mountain views from two outdoor patios including the amazing main-level entertainment sized deck. All this in a very private/quiet & secluded location! Walking distance to shopping, coffee shops, Canada Line, City Hall, VGH and more! First showing June 6 from 10am until noon. Open houses Saturday & Sunday June 10/11 from 2pm - 4 pm.
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Posted in Mount Pleasant VW, Vancouver West Real Estate
Open House. Open House on Saturday, June 10, 2023 2:00PM - 4:00PM

Please visit our Open House at 233 11TH AVE W in Vancouver. See details here

Open House on Saturday, June 10, 2023 2:00PM - 4:00PM

Rare opportunity in Mount Pleasant! Beautiful 2 bedroom 2 bath townhome on the prettiest street in the area! Built by Georgie award winner, Handmade Development. Open floor plan, stunning kitchen,vaulted ceilings,fireplace and more! Completely renovated in 2021 with high quality finishes! Enjoy City and mountain views from two outdoor patios including the amazing main-level entertainment sized deck. All this in a very private/quiet & secluded location! Walking distance to shopping, coffee shops, Canada Line, City Hall, VGH and more! First showing June 6 from 10am until noon. Open houses Saturday & Sunday June 10/11 from 2pm - 4 pm.

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Posted in Mount Pleasant VW, Vancouver West Real Estate
Open House. Open House on Sunday, June 11, 2023 2:00PM - 4:00PM

Please visit our Open House at 233 11TH AVE W in Vancouver. See details here

Open House on Sunday, June 11, 2023 2:00PM - 4:00PM

Rare opportunity in Mount Pleasant! Beautiful 2 bedroom 2 bath townhome on the prettiest street in the area! Built by Georgie award winner, Handmade Development. Open floor plan, stunning kitchen,vaulted ceilings,fireplace and more! Completely renovated in 2021 with high quality finishes! Enjoy City and mountain views from two outdoor patios including the amazing main-level entertainment sized deck. All this in a very private/quiet & secluded location! Walking distance to shopping, coffee shops, Canada Line, City Hall, VGH and more! First showing June 6 from 10am until noon. Open houses Saturday & Sunday June 10/11 from 2pm - 4 pm.

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Posted in Kitsilano, Vancouver West Real Estate
We just sold a property at 206 2195 5TH AVE W in Vancouver

We have just sold a property at 206 2195 5TH AVE W in Vancouver.
See details here
Located in the heart of Kitsilano! Bright Western exposure with views of the North Shore mountains. Spacious OPEN FLOOR PLAN with a FIREPLACE! A nice size balcony for bbqing and entertaining. IN-SUITE laundry,1 PARKING stall and a STORAGE locker complete this amazing home. Freshly painted with updated lighting and ready to move in! Amazing community rooftop deck with panoramic views of the ocean! This is a fully RAINSCREENED building with a proactive strata. Steps to coffee shops, Whole foods and more. Easy walk to kits beach, Granville Island & downtown!
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Posted in Kitsilano, Vancouver West Real Estate
New property listed in Kitsilano, Vancouver West

We have just listed a new property at 206 2195 5TH AVE W in Vancouver.
See details here
Located in the heart of Kitsilano! Bright Western exposure with views of the North Shore mountains. Spacious OPEN FLOOR PLAN with a FIREPLACE! A nice size balcony for bbqing and entertaining. IN-SUITE laundry,1 PARKING stall and a STORAGE locker complete this amazing home. Freshly painted with updated lighting and ready to move in! Amazing community rooftop deck with panoramic views of the ocean! This is a fully RAINSCREENED building with a proactive strata. Steps to coffee shops, Whole foods and more. Easy walk to kits beach, Granville Island & downtown!
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Posted in Kitsilano, Vancouver West Real Estate
Open House. Open House on Saturday, May 20, 2023 11:00AM - 1:00PM

Please visit our Open House at 206 2195 5TH AVE W in Vancouver. See details here

Open House on Saturday, May 20, 2023 11:00AM - 1:00PM

Located in the heart of Kitsilano! Bright Western exposure with views of the North Shore mountains. Spacious OPEN FLOOR PLAN with a FIREPLACE! A nice size balcony for bbqing and entertaining. IN-SUITE laundry,1 PARKING stall and a STORAGE locker complete this amazing home. Freshly painted with updated lighting and ready to move in! Amazing community rooftop deck with panoramic views of the ocean! This is a fully RAINSCREENED building with a proactive strata. Steps to coffee shops, Whole foods and more. Easy walk to kits beach, Granville Island & downtown!

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For immediate release

BC Markets Showing Signs of Recovery As Supply Remains Scarce
Vancouver, BC – April 13, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 7,118 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in March 2023, a decrease of 38.3 per cent from March 2022. The average MLS® residential price in BC was 961,451 down 11.6 per cent compared to the average price of close to $1.1 million in March 2022, recorded near the market's peak. The total sales dollar volume was $6.8 billion, representing a 45.5 per cent decrease from the same time last year.
“The BC housing market is currently characterized by slow sales but also still very low levels of listings,” said BCREA Chief Economist Brendon Ogmundson. “Consequently, even though home sales remain about 20 per cent below normal levels for this time of year, the average home price in BC has now risen two months in a row, reaching its highest level since May 2022 as markets tighten due to a lack of supply.”
 
Active listings in the province are up 25 per cent compared to this time last year but have fallen for the second straight month in the wake of a modest recovery in home sales and continued weak new listings activity.
 


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Housing Market Faces High Rates
and Slowing Economy in 2023

BCREA 2022 Fourth Quarter Housing Forecast
Vancouver, BC – November 8, 2022. The British Columbia Real Estate Association (BCREA) released its 2022 Fourth Quarter Housing Forecast today. 

Multiple Listing Service® (MLS®) residential sales in BC are forecast to decline 34.4 per cent from a record high 2021 to 82,345 units this year. In 2023, MLS® residential sales are forecast to fall an additional 11.4 per cent to 72,960 units.  

“The factors that drove unprecedented housing market activity over the past two years, including record low mortgage rates, buyer preference for extra space and the ability to work remotely, are now unwinding,” said BCREA Chief Economist Brendon Ogmundson. “As a result, there has been a significant shift in the housing market, which we anticipate will continue through 2023.”

With continued high-interest rates and what looks like a difficult 2023 ahead for the Canadian economy, we anticipate that market activity is going to fall below normal levels next year. On the supply side, slow sales activity has led to an increase in inventory, but from record lows. The rapid shift in market conditions has weighed on prices in the second half of this year, though active listings growth has slowed and is short of levels where we tend to see more substantial downward pressure on prices. However, price levels have fallen from their peak earlier this year, so even flat prices from current levels will translate to the provincial average price being down about 5 per cent in 2023.
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