I have listed a new property at 5967 128A ST in Surrey.

Affordable 2600 sq ft 5 bedroom home in Panorama Ridge offers a huge open kitchen with lots of cabinets for storage, granite counters, stainless steel appliances & laminate floors throughout. This home is almost 6 years old and has been beautifully maintained with 3 large bedrooms & open den on the top floor. Master bedroom has high vaulted ceilings with large walk-in closet. The basement is fully finished and has 2 bedrooms, full bathroom & living area with separate entrance. The large backyard is fully fenced and has a double garage with extra parking. Convenient & Centrally located in a huge cul-de-sac close to everything.

Panorama Ridge 超值2,600 呎5 房屋,設有開放式廚房,大量儲藏櫃,花崗石櫃檯,不銹鋼電器和仿木地板。接近6 年屋,保養一流,設3 大睡房和頂層開放式書房。主臥室擁有大型衣帽間和高拱天花。帶獨立入口的地下室已全裝修,設有2 睡房,浴室和客廳。全圍欄大後院,雙車庫與額外停車位。位於中心地段匙圈內街,鄰近生活所需,非常方便。

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I have listed a new property at 606 13303 CENTRAL AVE in Surrey.

Affordable 2600 sq ft 5 bedroom home in Panorama Ridge offers a huge open kitchen with lots of cabinets for storage, granite counters, stainless steel appliances & laminate floors throughout. This home is almost 6 years old and has been beautifully maintained with 3 large bedrooms & open den on the top floor. Master bedroom has high vaulted ceilings with large walk-in closet. The basement is fully finished and has 2 bedrooms, full bathroom & living area with separate entrance. The large backyard is fully fenced and has a double garage with extra parking. Convenient & Centrally located in a huge cul-de-sac close to everything.

The Wave 位於優越地段King George 夾104 Ave。3 年新朝南陽光充沛522 呎柏文,靈活精緻2 睡房或1 房加書房帶開放式隔間牆。敞亮空間,特大廚櫃,寬敞朝南露台。休閒設施包括:健身室,頂層屋平台可欣賞無遮擋美景與享用派對房和完善的廚房。

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Please visit our Open House at 12060 WESTMINSTER HWY in Richmond.
OPEN HOUSE: June 9, Saturday 2PM - 4PM

Open House Saturday Jun 9, 2-4 pm. Exceptional value on this 5415 sq ft house on a 66 x 130 = 8568 sq ft in Central location with easy access to Vancouver and all Highways. That’s only $477 per sq ft for the house and land. In total there 8 bedrooms and 7 bathrooms with a 2 bedroom authorized suite & a flexible floor plan for additional extended family. Open floor plan offers 4 bedrooms with 4 ensuited bathrooms upstairs, flexible 2 bedrooms & 2 baths down and the authorized 2 bedroom & 1 bathroom finished suite with separate entry. Great as a mortgage helper. All the bells and whistles with engineered hardwood floors, large kitchen, 2nd wok kitchen, stainless steel appliances, quartz countertops, radiant heating, air conditioning, 2-5-10 New Home Warranty, plus much more.

超值! 位於中心地段佔地66x130=8,568 呎,室內面積5,415呎,交通方便輕易到達溫哥華和所有高速公路。房屋連土地價格僅為$477/呎。共有8 睡室和7 浴室,靈活空間適合大家庭。樓上4 房4 套浴室樓下2 房和2 浴室及另一帶獨立出入口2 房單位。房貸好幫手。美輪美奐設有高級木地板,寬大廚房,中式廚房,不銹鋼電器,石英石檯面,地暖,空調,2-5-10 新屋保養等。

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I have listed a new property at 12060 WESTMINSTER HWY in Richmond.

Open House Saturday Jun 9, 2-4 pm. Exceptional value on this 5415 sq ft house on a 66 x 130 = 8568 sq ft in Central location with easy access to Vancouver and all Highways. That’s only $477 per sq ft for the house and land. In total there 8 bedrooms and 7 bathrooms with a 2 bedroom authorized suite & a flexible floor plan for additional extended family. Open floor plan offers 4 bedrooms with 4 ensuited bathrooms upstairs, flexible 2 bedrooms & 2 baths down and the authorized 2 bedroom & 1 bathroom finished suite with separate entry. Great as a mortgage helper. All the bells and whistles with engineered hardwood floors, large kitchen, 2nd wok kitchen, stainless steel appliances, quartz countertops, radiant heating, air conditioning, 2-5-10 New Home Warranty, plus much more.

超值! 位於中心地段佔地66x130=8,568 呎,室內面積5,415呎,交通方便輕易到達溫哥華和所有高速公路。房屋連土地價格僅為$477/呎。共有8 睡室和7 浴室,靈活空間適合大家庭。樓上4 房4 套浴室樓下2 房和2 浴室及另一帶獨立出入口2 房單位。房貸好幫手。美輪美奐設有高級木地板,寬大廚房,中式廚房,不銹鋼電器,石英石檯面,地暖,空調,2-5-10 新屋保養等。

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I have listed a new property at 12060 WESTMINSTER HWY in Richmond.

Exceptional value on this 5415 sq ft house on a 66 x 130 = 8568 sq ft in Central location with easy access to Vancouver and all Highways. That’s only $477 per sq ft for the house and land. In total there 8 bedrooms and 7 bathrooms with a 2 bedroom authorized suite & a flexible floor plan for additional extended family. Open floor plan offers 4 bedrooms with 4 ensuited bathrooms upstairs, flexible 2 bedrooms & 2 baths down and the authorized 2 bedroom & 1 bathroom finished suite with separate entry. Great as a mortgage helper. All the bells and whistles with engineered hardwood floors, large kitchen, 2nd wok kitchen, stainless steel appliances, quartz countertops, radiant heating, air conditioning, 2-5-10 New Home Warranty, plus much more.

超值! 位於中心地段佔地66x130=8,568 呎,室內面積5,415呎,交通方便輕易到達溫哥華和所有高速公路。房屋連土地價格僅為$477/呎。共有8 睡室和7 浴室,靈活空間適合大家庭。樓上4 房4 套浴室樓下2 房和2 浴室及另一帶獨立出入口2 房單位。房貸好幫手。美輪美奐設有高級木地板,寬大廚房,中式廚房,不銹鋼電器,石英石檯面,地暖,空調,2-5-10 新屋保養等。

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I have listed a new property at 6 12300 ENGLISH AVE in Richmond.

Location! Location! Move-in ready, south-facing 2 bedroom, 2.5 bathroom townhome in the best part of Steveston Village and steps to the waterfront, boardwalk & restaurants! 1344 SF of spacious living, this immaculate home has hardwood floors, tile, S/S appliances, gas cooktop, granite countertops, roomy pantry + many extras. The master bedroom with ensuite has a large walk in closet. Picture windows bring appealing views of the water, boardwalk & North Shore mountains. A spacious 590 SF garage has room for 2 cars + storage. A sunny patio, covered porch and balcony complete this lovely home. Easy walk to the park, rec centre, library, Farmer's Market & the dike for a scenic bicycle ride. Don't miss this stunning home first time on the market. Won't last. Hurry!

位於 Steveston Village 最受追捧的位置,可隨時八住朝南2 睡房2.5 浴室城市屋,近水岸,小徑及餐館。室內寬敞 1344 呎,保養好,高級木地板,地磚,不銹鋼電器,燃氣爐頭,花崗石櫃檯和寬敞儲物空間。主人房套浴室和特大衣帽間。如詩如畫的窗戶可以欣賞水景,小徑和北岸群山美景。590呎寬敞車庫可容2車及大量儲存空間。設陽光充沛陽台、有蓋門廊及露台。信步至公園,社區中心,圖書館和海濱步行徑。你可以騎自行車沿河堤小徑欣賞風景。這屋苑單位首次出售,機不可失,快!!

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I have listed a new property at 6882 BARNARD DR in Richmond.

SWEETWATER in prestigious Terra Nova! Amazing opportunity to own a detached home in 1 of the most popular family neighbourhoods in Rmd. You will love this bright & well-designed 3 bedroom family home with laminated floors, open kitchen with nook area, family room, bay windows in the LR, designer decorations, 1633 SF and 9’ ceilings on the main, 2 gas fireplaces & a detached double SXS garage with back lane access. All bedrooms are generously sized with a huge master bedroom, 5 pc ensuite & ample closet spaces. This home even comes with a covered front porch & fully fenced backyard. Walk to Quilchena Golf Course, Terra Nova Mall, Spul'U'Kwuks Elementary & Burnett Secondary. Don’t miss out!!

SWEETWATER 在著名的Terra Nova!絕佳機會擁有列治文最受歡迎住宅區之一的獨立屋。明亮的和精心設計的3 房家庭屋,採用仿木地板,開放式廚房連用膳區,家庭室,客廳有窗台,設計師精心裝飾,1633 呎和樓高9 呎,2 個燃氣壁爐和一個獨立的左右並排雙車房,後巷入口。寬敞睡房,超大主人房,5 件潔具套浴室和寬敞衣櫥空間。屋前有蓋前廊和全圍欄後院。步行到Quilchena 高爾夫球場,Terra Nova 購物中心,Spul'U'Kwuks 小學和Burnett 中學。萬勿錯過!

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I have listed a new property at 309 7540 MINORU BLVD in Richmond.
Carmel Pointe II by Polygon. Bright & immaculately maintained TOP FLOOR 2 bedroom, 2 bathroom condo with high vaulted ceilings, skylight, kitchen with eating area, gas fireplace, newer blinds, updated bathroom fixtures, separate laundry room, insuite storage, large closet spaces & 1 secured parking. Even comes with an enclosed balcony that offers 100+ SF of additional living space that’s not included in size. Super easy walk to all amenities including Minoru Park, Richmond Centre Mall, ice rink, swimming pool, skytrain & buses and close to Richmond High School and Ferris Elementary School. Maint fees include City of Rmd utilities. No pets or rentals allowed.
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I have listed a new property at 410 8851 LANSDOWNE RD in Richmond.
Immaculate 1 bedroom + den condo in the very popular Centrepointe complex. Home is south facing, super bright and features 784 SF of spacious living, newer laminate floors, floor to ceiling windows, den with built-in murphy bed, insuite laundry, outdoor balcony, 1 secured parking spot & 1 locker. Some views of the Garden City Parklands. Super low maint fees. Very well maintained concrete hi-rise with caretaker, outdoor swimming pool, hot tub, sauna, exercise centre & lounge. All this in an excellent location just steps to Kwantlen College, Lansdowne Mall, Walmart at Central at Garden City Mall, skytrain & buses.
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I have listed a new property at 10551 DENNIS CRES in Richmond.
OPEN HOUSE Sunday May 20th, 3pm - 5pm. STUNNING brand new 5 bedroom family home on a large 8111 SF lot & 3652 sq ft of spacious contemporary living! This bright & south-facing home has a open floor plan w/high ceilings in the grand entry, living & family rooms, wok kitchen, media room, den, 5.5 bathrooms, den & bed + full bath on the main floor. Great finishings with quality materials & detailed craftsmanship thoughtout. Features gourmet kitchen with huge island, quartz countertops, Jenn-Air SS appliances, glass staircase, feature fireplaces, air conditioning, triple garage, auto gate+ more. Within walking distance to Kidd Elementary, McNair Secondary & Whiteside Elementary for French Immersion & minutes to Ironwood Mall, Silver City & Entertainment Blvd & easy access to all Highways.
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I have listed a new property at 312 1355 BELLEVUE AVE in Vancouver.
WOW! This amazing 1 bedroom executive suite comes with 897 SF of spacious indoor living and a huge 477 SF outdoor terrace at the coveted Grosvenor at Ambleside! The sophisticated & sleek design features Snaidero cabinetry, WOLF, Subzero & Miele appliances, wine fridge, quartz countertops, wide plank oak hardwood floors, exquisite millwork, automated blinds & air conditioning. The spa-inspired bathroom has natural marble slab walls, wall-mounted toilet & Nuheat in-floor heating. Comes complete w/ an extra-wide parking spot & 1 locker. All this in the newest beachfront addition w/ 24 hour concierge, fitness centre, resident’s lounge and yoga space. Great location above Earl’s, Heirloom Vegetarian & Meinhardt’s Fine Foods and only steps to the boardwalk, beach and local shops.
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I have listed a new property at 94 9133 SILLS AVE in Richmond.
OPEN HOUSE SATURDAY May 12th, 3pm to 5pm. WOW! Super bright & clean 4 bedroom, 3.5 bathroom CORNER unit townhome with open exposures to the North, East & West and comes complete with a family room & double side x side garage! Features 1744 SF of spacious living, 9’ ceilings on the main floor, cozy electric fireplace, master w/ 2 large walk in closets, open kitchen with eating area, insuite laundry, security system & a huge balcony for those summer BBQ’s! All this in a fantastic well run complex with recently resurfaced balconies. All this in a great central location close to all amenities, shopping, buses & parks.
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I have listed a new property at 305 9232 UNIVERSITY CRES in Burnaby.

Popular Novo II by Intergulf located in heart of Burnaby SFU community. This 2 bedroom plus den unit offers home feeling with open concept kitchen, spacious and bright living space with trees and Burnaby city view. Walking distance to school, restaurants, coffee shops, grocery store and bus stops.

Intergulf 精心打造備受歡迎的Novo II,位於本那比西門菲莎大學社區的中心地帶。2 房加書房單位提供與開放式廚房,寬敞明亮的生活空間,擁有樹木和本那比城市景觀。步行到學校,各式餐館,多間咖啡店,雜貨店和巴士站。

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Home sales down, listings up across Metro Vancouver

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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.”

 

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.

 

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.

 

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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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. 

 

#jackychuang #jackyrealestate #vancouver #richmond #burnaby #coquitlam #surrey #realestateboard #realestate #marketupdate #remax #austinkayteam

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

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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.



#jackychuang #jackyrealestate #vancouver #realestate #remax #austinkayteam

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Info-Jan-2018-portal
 

Home buyer demand depends on property type

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 per cent increase from the 1,523 sales recorded in January 2017, and a 9.8 per cent decrease compared to December 2017 when 2,016 homes sold.

 

Last month’s sales were 7.1 per cent above the 10-year January sales average. By property type, detached sales were down 24.8 per cent from the 10-year January average, attached sales increased 14.3 per cent and apartment sales were up 31.6 per cent 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 an 8.3 per cent decrease compared to the 4,140 homes listed in January 2017 and a 100.7 per cent increase 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 four per cent decrease compared to January 2017 (7,238) and a 0.2 per cent decrease compared to December 2017 (6,958).

For all property types, the sales-to-active listings ratio for January 2018 is 26.2 per cent. By property type, the ratio is 11.6 per cent for detached homes, 32.8 per cent for townhomes, and 57.2 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 homes in Metro Vancouver is currently $1,056,500. This represents a 16.6 per cent increase over January 2017 and a 0.6 per cent increase compared to December 2017.

 

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

 

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

 

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


#jackychuang #jackyrealestate #vancouver #realestate #remax #austinkayteam

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Image result for real estate inventory low

 

Home prices in Metro Vancouver are expected to rise again in 2018, as “exceptionally” low inventory pushes up cost, according to Royal Lepage’s latest market forecast.

 

The real estate agency’s survey, released Wednesday, says prices increased in the fourth quarter of 2017, and predicts prices will continue to go up by 5.2 per cent by the end of the year.

 

The survey found that the aggregate home price in Greater Vancouver increased 8.2 per cent to $1,267,769 in the three months leading up to December, compared with the same period last year.

 

The largest increase was in the median price of a condo, which surged 20.2 per cent during those months to $651,885. The increases were highest in North Vancouver (26.8 per cent) followed by Burnaby (25.1 per cent) Langley (23.4 per cent) Richmond (19.5 per cent) and Coquitlam (18.8 per cent.)

 

The cost of a bungalow in Metro Vancouver went up 5.3 per cent to $1,436,606, while a two-storey home increased 6.6 per cent to $1,586,991.

 

The survey found there was double-digit growth in the city of Vancouver, where prices rose 12 per cent to $1,480,712, and in Burnaby and Coquitlam, rising 10.3 per cent and 11.1 per cent year-over-year to $1,115,541 and $1,064,247, respectively.

 

Surrey’s aggregate home price also saw a double-digit increase in the fourth quarter, rising 10.7 per cent to $844,869.

 

As buyers continued to search for reasonably priced homes near the downtown core, home values went up 5.7 per cent in North Vancouver to $1,459,570. Yet it was the area’s condominium growth that stood out. The survey says North Vancouver posted one of the largest annual gains of any property segment tracked in the nation, surging 26.8 per cent to $673,313.

 

Royal LePage says the prospect of new mortgage rules making it more difficult to purchase a home may have drawn prospective homeowners back into the market to compete for somewhat affordable property.

 

The agency’s general manager Randy Ryalls says home values have continued to strengthen in the region, particularly in the entry-level market where competition for available property is stiff.

 

“With each passing day, purchasers are becoming more attuned to the new price environment and consumer confidence strengthens,” he said in a release Wednesday.

 

“Until something is done to address current inventory levels, we will likely continue to see significant home price growth in Greater Vancouver’s future, even if demand is reined in,” said Ryalls.

 

On Jan. 1, new mortgage rules imposed by the Office of the Superintendent of Financial Institutions came into effect. The rules, which limit a buyer’s ability to purchase a home, are aimed at curbing Canadians’ debt levels.

Ryalls said that although the new rules may slow errant home-purchasing behaviour, it’s unlikely to bring prices down, and will push more buyers into the entry-level market, causing the price of condos and townhomes to inflate further.

 

#jackychuang #jackyrealestate #vancouver #realestate #remax #teamaustinkay

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Percentage of money

 
 

January 17 saw the third Bank of Canada overnight interest rate rise in the space of just over six months, on the back of the strengthening economy.

This will likely lead lenders to raise their prime rates, which in turn will raise variable-rate mortgages, while the Big Six banks have already increased their posted fixed rates.

 

So how much will all this cost the average homeowner?

 

Responding to the first of the three recent rate increases, local mortgage expert Dustan Woodhouse said, “It’s not about the interest rate, that shouldn’t concern you – it’s about the effect that interest rate rise will have on the payment you make on your mortgage.”

 

Woodhouse said, “A quarter-point interest rate movement represents $13 per month, per $100,000 mortgage, for the average [variable-rate] mortgage holder. So that’s $52 bucks a month extra on the average $400,000 mortgage balance.”

 

This might not sound like a big payment shock, but add that to the previous two rate rises, and variable-rate mortgage holders with a $400K balance could now be paying on average $156 a month more than they were just over six months ago.

 

‘Few will be affected’


However, Woodhouse also pointed out at the time that the majority of local homeowners won’t be affected by an interest rate rise, as 50 per cent have no mortgage, and more than 80 per cent of the remaining mortgage payers are on a five-year fixed rate.

 

He observed that fixed-rate mortgage holders who are nearing the end of that five-year term will have locked in at a rate comparable to today’s interest rate, when they initially took out the mortgage four or five years ago, so they will see little or no payment shock when renewing. And those who are near the beginning of the term, already fixed at low rates, have time to adjust and pay down some capital before renewing.

 

Even the small margin of home owners who are currently on a variable rate mortgage might not see any payment increase either, according to Woodhouse. Many lenders’ variable-rate mortgages don’t increase monthly payments with a rise in interest rates – they just mean the owners pay back a little more interest and a little less principal each month.

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Home buyer demand continues to differ based on housing type

 

Info-September-2017-portal


Apartment and townhome activity is outpacing the detached home market across Metro Vancouver*. This activity helped push total residential sales above the historical average in September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,821 in September 2017, a 25.2 per cent increase from the 2,253 sales recorded in September 2016, and a 7.3 per cent decrease compared to August 2017 when 3,043 homes sold.

Last month’s sales were 13.1 per cent above the 10-year September sales average.

“Our detached homes market is balanced today, while apartment and townhome sales remain in sellers' market territory,” Jill Oudil, REBGV president said. “If you’re looking to enter the market, as either a buyer or seller, it’s important to understand these trends and use this information to set realistic expectations.”

There were 5,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2017. This represents a 12 per cent increase compared to the 4,799 homes listed in September 2016 and a 26.6 per cent increase compared to August 2017 when 4,245 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,466, a 1.2 per cent increase compared to September 2016 (9,354) and a 7.5 per cent increase compared to August 2017 (8,807).

“Detached homes made up 30 per cent of all sales in September and represented 62 per cent of all the homes listed for sale on the MLS®,” said Oudil. “This dynamic has slowed the pace of upward pressure that we’ve seen on detached home prices in our market over the last few years.”

For all property types, the sales-to-active listings ratio for September 2017 is 29.8 per cent. By property type, the ratio is 14.6 per cent for detached homes, 42.3 per cent for townhomes, and 60.4 per cent for apartments.

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 $1,037,300. This represents a 10.9 per cent increase over September 2016 and a 0.7 per cent increase compared to August 2017.

Sales of detached properties in September 2017 reached 852, a 27.9 per cent increase from the sales recorded in September 2016 (666), a decrease of 33 per cent from September 2015 (1,272), and a decrease of 32.9 per cent from September 2014 (1,270). The benchmark price for detached properties is $1,617,300. This represents a 2.9 per cent increase from September 2016 and a 0.1 per cent increase compared to August 2017.

Sales of apartment properties reached 1,451 in September 2017, a 19.1 per cent increase compared from the sales recorded in September 2016 (1,218), a 5.1 per cent decrease from September 2015 (1,529), and a 22.1 per cent increase from September 2014 (1,188). The benchmark price of an apartment property is $635,800. This represents a 21.7 per cent increase from September 2016 and a 1.4 per cent increase compared to August 2017.

Attached property sales in September 2017 totalled 518, a 40.4 per cent increase compared to the sales recorded in September 2016 (369), a 4.8 per cent decrease from September 2015 (544), and an 11.6 per cent increase from September 2014 (464). The benchmark price of an attached home is $786,600. This represents a 14.5 per cent increase from September 2016 and a 1.1 per cent increase compared to August 2017.

Editor's Note

Areas covered by the Real Estate Board of Greater Vancouver include: 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 real estate industry is a key economic driver in British Columbia. In 2016, 39,943 homes changed ownership in the Board’s area, generating $2.5 billion in economic spin-off activity and an estimated 17,600 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $40 billion in 2016.

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