Posted on
June 5, 2019
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 11930 189A ST in Pitt Meadows.
Your search stops here! Immaculate updated 4 bedroom, 3 bathroom, 2 story home in a desirable family neighborhood. This is a perfect family home as the main floor is very spacious with an open kitchen overlooking the family room. Access the heated 16ft x 34ft Inground pool and 6-person hot tub from the kitchen, family room or garage. Outdoor space is your own private Oasis and the kids will also have plenty of room to play on the grassy private side yard. Upstairs has been completely renovated with no expense spared. Huge master bedroom with walk-in closet, luxurious ensuite bathroom and private deck plus 3 more spacious bedrooms and full washroom. Features: High efficiency furnace/heat pump zoned top and bottom floors. New hot water tank. 25-year cedar fence. Full exterior renovation including new windows, doors, soffits and gutters, and Hardi board around entire house. All of this in a private yard on a corner lot with potential RV parking. PME, PMSS Eagle park all Nearby. Check on duplex zoning.
Posted on
June 4, 2019
by
The 604 New Home Team
Slight uptick in Fraser Valley property sales in May attributable to single family detached
SURREY, BC – The increase in home sales in the Fraser Valley in May compared to April is thanks to renewed interest in single family detached homes. Although total market activity remained well below historical norms – 18 per cent below the 10-year average – the sale of detached homes increased by 14.9 per cent in one month.
The Fraser Valley Real Estate Board processed 1,517 sales of all property types on its Multiple Listing Service® (MLS®) in May, a 9.7 per cent increase compared to sales in April 2019, and a 13.7 per cent decrease compared to the 1,758 sales in May of last year.
In looking at the three main residential property types, detached homes garnered 41.2 per cent of the market in May, up from 39.4 per cent in April. Attached homes garnered 58.8 per cent in May, compared to 60.6 per cent in April.
Darin Germyn, President of the Board, said of the market: “Buyers are recognizing that in the last three months, home prices have stopped declining and that in order to take advantage of the improvement in prices over the past year, now is a great time to consider making the purchase they held off on in the previous months.
“We’re seeing buyers who have been waiting on the sidelines, act, because of better price opportunities and more selection. It’s been four years since buyers had this much choice in the Fraser Valley.”
There were 8,506 active listings available in the Fraser Valley at the end of May, an increase of 26.3 per cent compared to May of last year and an increase of 8.1 per cent compared to April 2019.
The Board received 3,542 new listings during the month, a 4.5 per cent increase compared to April 2019’s intake of 3,391 new listings and a 10.7 per cent decrease year-over-year.
“Key to this market is pricing,” continued Germyn. “We empathize with our clients on the challenges they face today to qualify to buy a home and we work with them to find the right property at a realistic price they can afford.”
HPI® Benchmark Price Activity
- Single Family Detached: At $964,200, the Benchmark price for a single family detached home in the Fraser Valley remained unchanged compared to April 2019 and decreased 5.9 per cent compared to May 2018.
- Townhomes: At $522,500, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.1 per cent compared to April 2019 and decreased 5.9 per cent compared to May 2018.
- Apartments: At $416,800, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.9 per cent compared to April 2019 and decreased 8.0 per cent compared to May 2018.
Posted on
June 4, 2019
by
Allan Krueger
May sees modest increase in home sales while housing supply reaches five-year high
Monthly Metro Vancouver home sales eclipsed 2,000 for the first time this year in May, although home buyer demand remains below historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,638 in May 2019, a 6.9 per cent decrease from the 2,833 sales recorded in May 2018, and a 44.2 per cent increase from the 1,829 homes sold in April 2019.
Last month’s sales were 22.9 per cent below the 10-year May sales average and was the lowest total for the month since 2000.
“High home prices and mortgage qualification issues caused by the federal government’s B20 stress test remain significant factors behind the reduced demand that the market is experiencing today,” Ashley Smith, REBGV president said.
There were 5,861 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver last month. This represents an 8.1 per cent decrease compared to the 6,375 homes listed in May 2018 and a 2.1 per cent increase compared to April 2019 when 5,742 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 14,685, a 30 per cent increase compared to May 2018 (11,292) and a 2.3 per cent increase compared to April 2019 (14,357). This is the highest number of homes listed for sale since September 2014 (14,832).
“Whether you’re a buyer looking to make an offer or a seller looking to list your home, getting your pricing right is the key in today’s market,” Smith said. “To be competitive, it’s important to work with your local REALTOR® to assess and understand the latest trends in your neighbourhood and property type of choice.”
For all property types, the sales-to-active listings ratio for May 2019 is 18 per cent. By property type, the ratio is 14.2 per cent for detached homes, 20 per cent for townhomes, and 21.2 per cent for apartments.
Generally, analysts say 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.
The MLS® Home Price Index2 composite benchmark price for all residential homes in Metro Vancouver is currently $1,006,400. This represents an 8.9 per cent decrease over May 2018, a 3.4 per cent decrease over the past six months, and a 0.4 per cent decrease compared to April 2019.
Sales of detached homes in May 2019 reached 913, a 1.4 per cent decrease from the 926 detached sales recorded in May 2018. The benchmark price for a detached home in the region is $1,421,900. This represents an 11.5 per cent decrease from May 2018, a 5.4 per cent decrease over the past six months, and a 0.5 per cent decrease compared to April 2019.
Sales of apartment homes reached 1,246 in May 2019, a 12.9 per cent decrease compared to the 1,431 sales in May 2018. The benchmark price of an apartment property is $664,200. This represents a 7.3 per cent decrease from May 2018, a two per cent decrease over the past six months, and a 0.5 per cent decrease compared to April 2019.
Attached home sales in May 2019 totalled 479, a 0.6 per cent increase compared to the 476 sales in May 2018. The benchmark price of an attached unit is $779,400. This represents a 7.6 per cent decrease from May 2018, a 3.5 per cent decrease over the past six months, and a 0.6 per cent increase compared to April 2019.
Posted on
June 4, 2019
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 3302 898 CARNARVON ST in New Westminster.
Quick Possession possible..
Posted on
May 10, 2019
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 502 9168 SLOPES MEWS in Burnaby.
Live above it all on the Top Floor in this corner unit by Polygon Home! Super private with only one shared wall, this 2 bedroom 2 full bathroom condo has been meticulously cared for and it shows! Features include Polished Engineered Stone Counters, Stainless Appliance Package, Glass Tile backsplash, and rich wood laminate flooring. Spacious 968 sq ft of efficient floor space with bedrooms on opposite corners - tons of privacy and perfect for roommates. South East views from the kitchen and oversize Covered Deck! In floor heating throughout! This condo is absolutely move in ready with Full Size Laundry, upgraded high end Hunter Douglas Blinds, Massive Storage Locker and perhaps the best parking stall in the building!
Posted on
May 8, 2019
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 11930 189A ST in Pitt Meadows.
Your search stops here! Immaculate updated 4 bedroom, 3 bathroom, 2 story home in a desirable family neighborhood. This is a perfect family home as the main floor is very spacious with an open kitchen overlooking the family room. Access the heated 16ft x 34ft Inground pool and 6-person hot tub from the kitchen, family room or garage. Outdoor space is your own private Oasis and the kids will also have plenty of room to play on the grassy private side yard. Upstairs has been completely renovated with no expense spared. Huge master bedroom with walk-in closet, luxurious ensuite bathroom and private deck plus 3 more spacious bedrooms and full washroom. Features: High efficiency furnace/heat pump zoned top and bottom floors. New hot water tank. 25-year cedar fence. Full exterior renovation including new windows, doors, soffits and gutters, and Hardi board around entire house. All of this in a private yard on a corner lot with potential RV parking. PME, PMSS Eagle park all Nearby. Check on duplex zoning.
Posted on
May 2, 2019
by
The 604 New Home Team
Slower than normal market still attracting buyers in the Fraser Valley
Posted on
May 2, 2019
by
Allan Krueger
Reduced demand and increased supply remain the trend across Metro Vancouver’s housing market
Decreased demand continues to allow the supply of homes for sale to accumulate across the Metro Vancouver housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,829 in April 2019, a 29.1 per cent decrease from the 2,579 sales recorded in April 2018, and a 5.9 per cent increase from the 1,727 homes sold in March 2019.
Last month’s sales were 43.1 per cent below the 10-year April sales average.
“Government policy continues to hinder home sale activity. The federal government’s mortgage stress test has reduced buyers’ purchasing power by about 20 per cent, which is causing people at the entry-level side of the market to struggle to secure financing,” Ashley Smith, REBGV president said. “Suppressing housing activity through government policy not only reduces home sales, it harms the job market, economic growth and creates pent-up demand.”
There were 5,742 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2019. This represents a 1.3 per cent decrease compared to the 5,820 homes listed in April 2018 and a 16 per cent increase compared to March 2019 when 4,949 homes were listed.
The total number of homes currently listed for sale on the MLS® in Metro Vancouver is 14,357, a 46.2 per cent increase compared to April 2018 (9,822) and a 12.4 per cent increase compared to March 2019 (12,774).
“There are more homes for sale in our market today than we’ve seen since October 2014. This trend is more about reduced demand than increased supply,” Smith said. “The number of new listings coming on the market each month are consistent with our long-term averages. It’s the reduced sales activity that’s allowing listings to accumulate.”
The overall sales-to-active listings ratio for April 2019 is 12.7 per cent. By property type, the ratio is 9.4 per cent for detached homes, 15.4 per cent for townhomes, and 15.3 per cent for apartments.
Generally, analysts say 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.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,008,400. This represents an 8.5 per cent decrease over April 2018, and a 0.3 per cent decrease compared to March 2019.
Detached home sales totalled 586 in April 2019, a 27.4 per cent decrease from the 807 detached sales in April 2018. The benchmark price for a detached home is $1,425,200. This represents an 11.1 per cent decrease from April 2018, a 0.8 per cent decrease compared to March 2019.
Apartment home sales totalled 885 in April 2019, a 32.3 per cent decrease compared to the 1,308 sales in April 2018. The benchmark price of an apartment is $656,900 in the region. This represents a 6.9 per cent decrease from April 2018 and is unchanged from March 2019.
Attached home sales totalled 358 in April 2019, a 22.8 per cent decrease compared to the 464 sales in April 2018.
The benchmark price of an attached home is $783,300. This represents a 7.5 per cent decrease from April 2018 and is unchanged from March 2019.
***
For Details on what has been happening in your neighbourhood, give us a call!
Posted on
April 26, 2019
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 8141 FOREST GROVE DR in Burnaby.
Absolutely gorgeous End Unit Executive Townhouse situated in convenient Forest Hills! Perhaps the nicest kitchen you will find in this price range - completely redone by a professional designer and contractor, featuring high end materials, newer stainless steel appliance, glass tile backsplash, accent white upper cabinetry, recessed lighting, ample storage drawers, and finished to a very high standard. The main floor offers a renovated 2 pc powder room, dining and living rooms, Private Deck and BBQ area. Upstairs are 3 good size rooms and two updated bathrooms. Downstairs is perfect for Guests or teens with a den (could be 4th bedroom), full bathroom, massive rec room, and access to your patio and yard. Super Quiet Location!
Posted on
April 11, 2019
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 19180 SUNDALE AVE in Surrey.
Nothing to do but move into this completely renovated home! A 5 bedroom/3 bath stunner on corner lot with private, south facing backyard & potential for a suite! Updates (past 3 years) include: new exterior, gutters and downspouts, new deck, thermal windows, doors (including garage), exterior and interior paint & trim, PEX waterlines, 200 amp panel, hot water tank, furnace & AC, new lighting and flooring too! Open concept main has new kitchen (cabinets/counters/soft-close drawers/stainless steel appliances), a large island & French doors out to the deck to BBQ, entertain and enjoy the colourful yard. Plus, the coolest bathrooms you've ever seen! This modern tech home has new security system, cable & ethernet to every room too! Close to Willowbrook Mall & transit. View by appointment only.
Posted on
April 2, 2019
by
Allan Krueger
Prospective home buyers remain on the sidelines in March
Metro Vancouver home sales dipped to the lowest levels seen in March in more than three decades.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,727 in March 2019, a 31.4 per cent decrease from the 2,517 sales recorded in March 2018, and a 16.4 per cent increase from the 1,484 homes sold in February 2019.
Last month’s sales were 46.3 per cent below the 10-year March sales average and was the lowest total for the month since 1986.
“Housing demand today isn’t aligning with our growing economy and low unemployment rates. The market trends we’re seeing are largely policy induced,” Ashley Smith, REBGV president said. “For three years, governments at all levels have imposed new taxes and borrowing requirements on to the housing market.”
“What policymakers are failing to recognize is that demand-side measures don’t eliminate demand, they sideline potential home buyers in the short term. That demand is ultimately satisfied down the line because shelter needs don’t go away. Using public policy to delay local demand in the housing market just feeds disruptive cycles that have been so well-documented in our region.”
There were 4,949 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2019. This represents an 11.2 per cent increase compared to the 4,450 homes listed in March 2018 and a 27.2 per cent increase compared to February 2019 when 3,892 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,774, a 52.4 per cent increase compared to March 2018 (8,380) and a 10.2 per cent increase compared to February 2019 (11,590).
For all property types, the sales-to-active listings ratio for March 2019 is 13.5 per cent. By property type, the ratio is 9.4 per cent for detached homes, 15.9 per cent for townhomes, and 17.2 per cent for apartments.
Generally, analysts say 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.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,011,200. This represents a 7.7 per cent decrease from March 2018, and a 0.5 per cent decrease compared to February 2019.
Sales of detached homes in March 2019 reached 529, a 26.7 per cent decrease from the 722 sales in March 2018. The benchmark price for a detached home is $1,437,100. This represents a 10.5 per cent decrease from March 2018, and a 0.4 per cent decrease compared to February 2019.
Sales of apartment homes reached 873 in March 2019, a 35.3 per cent decrease compared to the 1,349 sales in March 2018. The benchmark price of an apartment property is $656,900. This represents a 5.9 per cent decrease from March 2018, and a 0.5 per cent decrease compared to February 2019.
Attached home sales in March 2019 totalled 325, a 27.1 per cent decrease compared to the 446 sales in March 2018. The benchmark price of an attached home is $783,600. This represents a six per cent decrease from March 2018, and a 0.7 per cent decrease compared to February 2019.
For details on what is happening in your neighbourhood, contact the 604 New Home Team. Buying, selling, investing? We'd love to help!
Posted on
April 2, 2019
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 311 3142 ST JOHNS ST in Port Moody.
Priced to Sell Now! Desirable Sonrisa is in a super convenient location - steps to the Skytrain and West Coast Express, and a short walk to the Inlet Trail, Suter Brook, Rocky Point Park, Newport Village, and the Port Moody Rec Center! 3rd Floor 617 sq ft One Bedroom, One Bath home with Northern Exposure. Could use some minor cosmetic work and priced accordingly. Complex amenities include indoor pool, and gym. Buy with confidence in a Great Building!
Posted on
March 28, 2019
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 621 BENTLEY RD in Port Moody.
GREAT LOCATION of this 2 level with basement, 3 bedroom family home on a quiet cul-de-sac, steps away from Old Orchard Park, the beach, daycare, community centre & Shoreline Trail! The main features hardwood flooring in the living room, dining room & hallway. Stay warm with the wood fireplace. The spacious kitchen with sliding door leads to a covered deck, fenced private backyard and large storage shed. Upstairs: a huge master bedroom with walk-in closet & 3-pc ensuite while the 2 additional bedrooms have partial water views! Bathrooms on every level including the finished basement with large entertainment & game rooms (could be additional bedroom space). Park in the double garage, or space for 2 on the driveway. Just minutes drive to the Rec. Centre, library, Newport Village and Skytrain!
Posted on
March 16, 2019
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 311 3142 ST JOHNS ST in Port Moody.
Priced to Sell Now! Desirable Sonrisa is in a super convenient location - steps to the Skytrain and West Coast Express, and a short walk to the Inlet Trail, Suter Brook, Rocky Point Park, Newport Village, and the Port Moody Rec Center! 3rd Floor 617 sq ft One Bedroom, One Bath home with Northern Exposure. Could use some minor cosmetic work and priced accordingly. Complex amenities include indoor pool, and gym. Buy with confidence in a Great Building!
Posted on
March 7, 2019
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 502 9168 SLOPES MEWS in Burnaby.
Live above it all on the Top Floor in this corner unit by Polygon Home! Super private with only one shared wall, this 2 bedroom 2 full bathroom condo has been meticulously cared for and it shows! Features include Polished Engineered Stone Counters, Stainless Appliance Package, Glass Tile backsplash, and rich wood laminate flooring. Spacious 968 sq ft of efficient floor space with bedrooms on opposite corners - tons of privacy and perfect for roommates. Awesome views from the kitchen and oversize covered deck to the East and South East. In floor heating throughout! This condo is absolutely move in ready with Full Size Laundry, upgraded high end Hunter Douglas Blinds, Massive Storage Locker and perhaps the best parking stall in the building.
Posted on
March 4, 2019
by
Allan Krueger
Housing market conditions continue to favour home buyers
The Metro Vancouver housing market saw increased supply from home sellers and below average demand from home buyers in February.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,484 in February 2019, a 32.8 per cent decrease from the 2,207 sales recorded in February 2018, and a 34.5 per cent increase from the 1,103 homes sold in January 2019.
Last month’s sales were 42.5 per cent below the 10-year February sales average.
“For much of the past four years, we’ve been in a sellers’ market. Conditions have shifted over the last 12 months to favour buyers, particularly in the detached home market,” Phil Moore, REBGV president said. “This means that home buyers face less competition today, have more selection to choose from and more time to make their decisions.”
There were 3,892 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2019. This represents a 7.8 per cent decrease compared to the 4,223 homes listed in February 2018 and a 19.7 per cent decrease compared to the 4,848 homes listed in January 2019.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 11,590, a 48.2 per cent increase compared to February 2018 (7,822) and a 7.2 per cent increase compared to January 2019 (10,808).
For all property types, the sales-to-active listings ratio for February 2019 is 12.8 per cent.
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.
“Homes priced well for today’s market are attracting interest, however, buyers are choosing to take a wait-and-see approach for the time being,” Moore said. “REALTORS® continue to experience more traffic at open houses. We’ll see if this trend leads to increased sales activity during the spring market.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,016,600. This represents a 6.1 per cent decrease over February 2018, a 6.2 per cent decrease over the past six months, and a 0.3 per cent decrease compared to January 2019.
Sales of detached homes in February 2019 reached 448, a 27.9 per decrease cent from the 621 detached sales recorded in February 2018. The benchmark price for detached properties is $1,443,100. This represents a 9.7 per cent decrease from February 2018, a 7.6 per cent decrease over the past six months, and a 0.7 per cent decrease compared to January 2019.
Sales of apartment homes reached 759 in February 2019, a 35.9 per cent decrease compared to the 1,185 sales in February 2018. The benchmark price of an apartment property is $660,300. This represents a four per cent decrease from February 2018, a 5.1 per cent decrease over the past six months, and a 0.3 per cent increase compared to January 2019.
Attached home sales in February 2019 totalled 277, a 30.9 per cent decrease compared to the 401 sales in February 2018. The benchmark price of an attached unit is $789,300. This represents a 3.3 per cent decrease from February 2018, a 6.7 per cent decrease over the past six months, and a 1.4 per cent decrease compared to January 2019.
Posted on
March 2, 2019
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 621 BENTLEY RD in Port Moody.
You'll love the great location of this 3 bedroom family home on a quiet and private cul-de-sac, just steps away from Old Orchard Park, the beach, daycare, community centre and Shoreline Trail! This 2 level with basement North Shore home features hardwood flooring in living room, dining room & hallway. A spacious kitchen with sliding door to covered deck, fenced private backyard and large storage shed. Upstairs has a huge master bedroom with 3-pc ensuite and 2 additional bedrooms with partial water views. Bathrooms on every level including the finished basement with large entertainment & game rooms which could be used for additional bedroom space. Stay warm with the wood fireplace. Lots of room in the double garage plus parking for 2 more on the driveway. Showing by agent appointment.
Posted on
February 20, 2019
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 3302 898 CARNARVON ST in New Westminster.
Posted on
February 12, 2019
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 1490 APEL DR in Port Coquitlam.
Tons of potential in this basement entry home with access from the front on Apel and Ulster from the back of the property. Super convenient location situated close to Hyde Creek Rec Center / Pool and Minnekhada Middle School! This home offers three bedroom and two bathrooms up top, a large recroom and suite potential on the lower level. Needs some TLC - perfect if you are handy and looking to build some sweat equity. 100k below Assessed Value!
Posted on
February 5, 2019
by
Allan Krueger
Home listings increase while buyers remain in holding pattern
Home listings continue to increase across all housing categories in the Metro Vancouver housing market while home buyer activity remains below historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,103 in January 2019, a 39.3 per cent decrease from the 1,818 sales recorded in January 2018, and a 2.9 per cent increase from the 1,072 homes sold in December 2018.
Last month’s sales were 36.3 per cent below the 10-year January sales average and were the lowest January-sales total since 2009.
“REALTORS® are seeing more traffic at open houses compared to recent months. Homes priced well for today’s market are garnering interest, however, buyers are choosing to remain in a holding pattern for the time being,” Phil Moore, REBGV president said.
There were 4,848 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2019. This represents a 27.7 per cent increase compared to the 3,796 homes listed in January 2018 and a 244.6 per cent increase compared to the 1,407 homes listed in December 2018.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,808, a 55.6 per cent increase compared to January 2018 (6,947) and a 5.2 per cent increase compared to December 2018 (10,275).
For all property types, the sales-to-active listings ratio for January 2019 is 10.2 per cent. By property type, the ratio is 6.8 per cent for detached homes, 11.9 per cent for townhomes, and 13.6 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.
“Home prices have edged down across all home types in the region over the last seven months,” Moore said.
The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $1,019,600. This represents a 4.5 per cent decrease over January 2018, and a 7.2 per cent decrease over the past six months.
“Economic fundamentals underpinning our market for home buyers and sellers remain strong. Today’s market conditions are largely the result of the mortgage stress test that the federal government imposed at the beginning of last year,” Moore said. “This measure, coupled with an increase in mortgage rates, took away as much as 25 per cent of purchasing power from many home buyers trying to enter the market.”
Sales of detached homes in January 2019 reached 339, a 30.4 per cent decrease from the 487 detached sales recorded in January 2018. The benchmark price for detached homes is $1,453,400. This represents a 9.1 per cent decrease from January 2018, and an 8.3 per cent decrease over the past six months.
Sales of apartment homes reached 559 in January 2019, a 44.8 per cent decrease compared to the 1,012 sales in January 2018. The benchmark price of an apartment property is $658,600. This represents a 1.7 per cent decrease from January 2018, and a 6.6 per cent decrease over the past six months.
Attached home sales in January 2019 totalled 205, a 35.7 per cent decrease compared to the 319 sales in January 2018. The benchmark price of an attached unit is $800,600. This represents a 0.5 per cent decrease from January 2018, and a 6.2 per cent decrease over the past six months.
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Port Moody
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Port Moody Centre, Port Moody Real Estate
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Port Moody Real Estate
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Queensborough, New Westminster Real Estate
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Ranch Park, Coquitlam Real Estate
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Real Estate Assessment
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Renfrew VE, Vancouver East Real Estate
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Riverwood, Port Coquitlam Real Estate
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S.W. Marine, Vancouver West Real Estate
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Silver Valley, Maple Ridge Real Estate
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Simon Fraser Hills, Burnaby North Real Estate
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Simon Fraser Univer., Burnaby North Real Estate
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South Meadows, Pitt Meadows Real Estate
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Sullivan Heights, Burnaby North Real Estate
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Sullivan Station, Surrey Real Estate
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Thornhill, Maple Ridge Real Estate
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Uptown NW, New Westminster Real Estate
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Vancouver
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Walnut Grove, Langley Real Estate
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Websters Corners, Maple Ridge Real Estate
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West Central, Maple Ridge Real Estate
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Westwood Plateau, Coquitlam Real Estate
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White Rock, South Surrey White Rock Real Estate
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Willoughby Heights, Langley Real Estate
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Woodland Acres PQ, Port Coquitlam Real Estate
Posted on
June 5, 2025
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 48 3046 Coast Meridian Road in Port Coquitlam on May 28, 2025. See details here
Opportunity for renovators in this 3 Bedroom, 2 bath (plus ensuite with sink) Bathroom Townhome....
Posted on
May 23, 2025
by
Allan Krueger (Royal LePage Elite West)
Please visit our Open House at 48 3046 Coast Meridian Road in Port Coquitlam. See details here
Open House on Saturday, May 24, 2025 2:00PM - 4:00PM
Opportunity for renovators in this 3 Bedroom, 2 bath (plus...
Posted on
May 23, 2025
by
Allan Krueger (Royal LePage Elite West)
I have sold a property at 2 304 Highland Way in Port Moody on Jan 16, 2025. See details here
Opportunity Knocks at this Highland Park Ground Level 3 Bedroom, 1 Bathroom Townhome. Situated steps from Inlet...
Posted on
May 9, 2025
by
Allan Krueger (Royal LePage Elite West)
Please visit our Open House at 48 3046 Coast Meridian Road in Port Coquitlam. See details here
Open House on Saturday, May 10, 2025 2:00PM - 4:00PM
Opportunity for renovators in this 3 Bedroom, 2 bath (plus...
Posted on
May 9, 2025
by
Allan Krueger (Royal LePage Elite West)
I have listed a new property at 48 3046 Coast Meridian Road in Port Coquitlam. See details here
Opportunity for renovators in this 3 Bedroom, 2 bath (plus ensuite with sink) Bathroom Townhome. Don't let...
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.