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NEW PRICE - 313 9319 University Cr., Burnaby, SFU, UniverCity

Large Outdoor Space

2 Bed, 2 Bath, 849sqft

Priced at $574,800

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Outdoor lover ALERT!!! Huge semi-private patio with direct access to your suite; perfect for gardeners & pet owners alike. This 2bed/2bath/849sqft home will not disappoint. Features: laminate flooring throughout, open concept plan, kitchen w/plenty of cupboard & counter space, breakfast bar, SS apps, gas stove & a cozy gas F/P. The large primary bed has nook space, ensuite w/soaker & walk-in closet. Benefit from a well sized 2nd bed. Located in Harmony, a rental & pet friendly complex w/rec facilities. Close to all amenities: transit, shopping, indoor/outdoor recreation and a host of perks available only to UniverCity residents. Do not miss your chance to enjoy living in this great lifestyle neighborhood! Act now!

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NEW PRICE - 219 9339 University Cr., Burnaby, SFU, UniverCity

Studio Home w/ Patio

Efficient Layout

Priced at $374,800

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Investor, student and first-time buyer alert! Excellent condition, nothing to do but move in. Located in Harmony, a rental & pet friendly building, this studio/1bath/407sqft home features: laminate floors throughout, an efficient floor plan, well-sized kitchen w/stainless apps, newer stove & microwave. Enjoy the spacious, partially covered, fully fenced patio; perfect for BBQs. Bonus: parking & built-in murphy bed included. Walk to: transit, campus, childcare, shopping, indoor/outdoor rec. & a host of resident-only perks. Do not miss your chance to enjoy living in this great lifestyle neighborhood! Act Now!

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Just Listed & NEW PRICE - 1928 Dawes Hill Road, Coquitlam, Capehorn

Brand New Home

7 Bed, 8 bath, 5,417sqft

Priced at $2,898,800

Open house: May 25th from 2-4pm & May 26th from 1-3pm

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Welcome to this custom-built home in the desirable Capehorn neighborhood of Coquitlam. This 5,417sqft/7bed/8bath/3lvl home on an extensively landscaped 9622sqft lot w/southern city views will not disappoint. Enjoy quality finishing & craftsmanship, an open layout & luxury features. Main: engineered oak & tile floors, formal dining & living rms, large kitchen w/top line appls, spice kitchen, family rm, bed w/4pc ensuite, large mud rm & a large covered deck. Up: spacious primary w/walk-in, 5pc & private deck & 3 well sized rms each w/ensuites. Down; rec rm, games rm, bar area, 4pc bath & a massive crawl space. The bright, partially above-ground 2bed/1bath suite is a perfect mortgage helper. Bonus: radiant heat/AC/HRV/Smart boiler, large dble car garage, tons of parking & lane access. Act Now! Open house May 25th from 2-4pm & May 26th from 1-3pm.

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Just Listed - 202 9877 University Crescent, Burnaby, SFU, UniverCity

Large Outdoor Space

Parking & Locker

Priced at $578,800

Open House: Sunday, May 26th from 2-4pm

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Looking for outdoor space? Look no further, your search ends here. Enjoy the 277sqft semi-private, partially covered patio; perfect for gardeners & pet owners alike. This 2bed/1bath/756sqft home, in the Veritas complex, will not disappoint. Features: an abundance of natural light, upgraded flooring, over-height ceilings, open concept plan, kitchen w/plenty of cupboard & counter space, breakfast bar & SS apps. The spacious primary bed has walk-in closet & cheater ensuite. Benefit from a well sized 2nd bed. Bonus: 1 parking & huge full height 6*13 locker. Close to all amenities: transit, shopping, indoor/outdoor recreation and a host of perks available only to UniverCity residents. Do not miss your chance to enjoy living in this great lifestyle neighborhood! Act Now! Open house Sunday, May 26th from 2-4pm.

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OPEN HOUSE - 108 9877 University Cr., Burnaby, SFU, UniverCity

Open house Sunday, May 26th from 2-4pm.

Fully Furnished

Large, Private Patio

1 Bed + Den, 1 Bath, 649sqft

Priced at $498,800

Enjoy the peace & tranquility this area has to offer. Welcome to UniverCity at SFU, Vancouver's premier lifestyle neighborhood. Looking for outdoor space? What about a place that is fully-furnished? This 1bed+den/1bath/649sqft home will not disappoint. Enjoy the large partially covered private patio with walk-up access. Features: quality flooring, open layout, SS appls, plenty of cupboard & counter space, excellent natural light & in-suite laundry. The primary has pass-through closet to the 4pc cheater ensuite. The den is well sized; perfect for a home-office. Bonus: 1 parking & locker. Close to: transit, shopping, indoor/outdoor recreation & a host of perks available only to UniverCity residences. Act Now! Join us for an open house Sunday, May 26th from 2-4pm.

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New Listings Bounce Higher in April

Vancouver, BC – May 15, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,569 residential unit sales were recorded in Multiple Listing Service® (MLS® ) systems in April 2024, an increase of 1.5 per cent from April 2023. The average MLS® residential price in BC in April 2024 was up 1.4 per cent at $1 million, compared to an average price of $992,440 in April 2023. The total sales dollar volume was $7.6 billion, an increase of 3 per cent from the same time the previous year.

"April was an above-average month for new listings activity, registering the highest pace since 2021," said BCREA Chief Economist Brendon Ogmundson. "Sales are still slightly below normal, which has led to a substantial increase in total inventory, though at a level still far below long-run balance. Ultimately, the market is heading into the summer in a state of relative calm with much more choice for buyers."

Year-to-date, BC residential sales dollar volume was up 9.5 per cent to $23.4 billion, compared with the same period in 2023. Residential unit sales were up 4.8 per cent to 23,507 units, while the average MLS® residential price was up 4.5 per cent to $997,132.

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Provided by: BCREA

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Just Listed - 108 9877 University Cr., Burnaby, SFU, UniverCity
Fully Furnished
 
Large, Private Patio
 
1 Bed + Den, 1 Bath, 649sqft
 
Priced at $498,800

Enjoy the peace & tranquility this area has to offer. Welcome to UniverCity at SFU, Vancouver's premier lifestyle neighborhood. Looking for outdoor space? What about a place that is fully-furnished? This 1bed+den/1bath/649sqft home will not disappoint. Enjoy the large partially covered private patio with walk-up access. Features: quality flooring, open layout, SS appls, plenty of cupboard & counter space, excellent natural light & in-suite laundry. The primary has pass-through closet to the 4pc cheater ensuite. The den is well sized; perfect for a home-office. Bonus: 1 parking & locker. Close to: transit, shopping, indoor/outdoor recreation & a host of perks available only to UniverCity residences. Act Now!

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JUST SOLD - 105 255 Ross Drive, New Westminster, Fraserview

Fully Above Ground

2 Bed + Den, 2 Bath, 1,036sqft

Priced at $774,800

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Fully above ground with spacious, open layout and an abundance of natural light from tons of windows. You won't be disappointed! Welcome to this SE facing 2bed+den/2bath/1,036sqft corner home overlooking lush greenery. Features: welcoming foyer, new laminate flooring, over height ceilings, excellent rm separation, large kitchen w/SS apps, plenty of counter/cupboard space & breakfast bar. Enjoy the cozy F/P & large, covered balcony for year-round use. The primary offers a massive walk-in closet & 4pc ensuite & the 2nd bed is well sized. Bonus: 2 side-by-side parking, locker & excellent complex amenities w/gym, amenity rm, theater rm & more. Close to: shopping, transit, bridge access, schools, all sorts of amenities & soon to open 10K+aquatic center.

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Inventory reaches highest level since the pandemic summer of 2020

VANCOUVER, BC – May 2, 2024 – Actively listed homes for sale on the MLS® in Metro Vancouver1 continued climbing in April, up 42 per cent year-over-year, breaching the 12,000 mark, a number not seen in the region since the summer of 2020.

Greater Vancouver REALTORS® (GVR)2 reports that residential sales3 in the region totalled 2,831 in April 2024, a 3.3 per cent increase from the 2,741 sales recorded in April 2023. This was 12.2 per cent below the 10-year seasonal average (3,223).

“It’s a feat to see inventory finally climb above 12,000. Many were predicting higher inventory levels would materialize quickly when the Bank of Canada began its aggressive rate hikes, but we’re only seeing a steady climb in inventory in the more recent data,” Andrew Lis, GVR’s director of economics and data analytics said. “The surprise for many market watchers has been the continued strength of demand along with the fact few homeowners have been forced to sell in the face of the highest borrowing costs experienced in over a decade.”

There were 7,092 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2024. This represents a 64.7 per cent increase compared to the 4,307 properties listed in April 2023.

This was 25.8 per cent above the 10-year seasonal average (5,637).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,491, a 42.1 per cent increase compared to April 2023 (8,790).

This is 16.7 per cent above the 10-year seasonal average (10,704).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for April 2024 is 23.5 per cent. By property type, the ratio is 17.6 per cent for detached homes, 31.0 per cent for attached, and 26.0 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.

“Another surprising story in the April data is the fact prices continue climbing across most segments with recent increases typically in the range of one to two per cent month-overmonth,” Lis said. “The one segment that didn’t see an uptick in prices in April were apartments, which saw a 0.1 per cent decline month-over-month. This moderation is likely due to a confluence of factors impacting this more affordability sensitive segment of the market, particularly the impact of higher mortgage rates and the recent boost to inventory levels, tempering competition somewhat.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,205,800. This represents a 2.8 per cent increase over April 2023 and a 0.8 per cent increase compared to March 2024.

Sales of detached homes in April 2024 reached 814, a 0.7 per cent increase from the 808 detached sales recorded in April 2023. The benchmark price for a detached home is $2,040,000. This represents a 6.3 per cent increase from April 2023 and a 1.6 per cent increase compared to March 2024.

Sales of apartment homes reached 1,416 in April 2024, a 0.2 per cent increase compared to the 1,413 sales in April 2023. The benchmark price of an apartment home is $776,500. This represents a 3.2 per cent increase from April 2023 and a 0.1 per cent decrease compared to March 2024.

Attached home sales in April 2024 totalled 580, a 16 per cent increase compared to the 500 sales in April 2023. The benchmark price of a townhouse3 is $1,127,200. This represents a 4.3 per cent increase from April 2023 and a 1.3 per cent increase compared to March 2024.

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Editor’s Note:

1. Areas covered by Greater Vancouver REALTORS® 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. On February 12, 2024, The Real Estate Board of Greater Vancouver changed its organizational name to the Greater Vancouver REALTORS®.

3. GVR 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.

Greater Vancouver REALTORS® is an association representing more than 15,000 REALTORS® and their companies. The association 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.gvrealtors.ca.

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Just Listed - 105 255 Ross Drive, New Westminster, Fraserview

Fully Above Ground

2 Bed + Den, 2 Bath, 1,036sqft

Priced at $774,800

Open House: May 4th & 5th from 12-2pm

Fully above ground with spacious, open layout and an abundance of natural light from tons of windows. You won't be disappointed! Welcome to this SE facing 2bed+den/2bath/1,036sqft corner home overlooking lush greenery. Features: welcoming foyer, new laminate flooring, over height ceilings, excellent rm separation, large kitchen w/SS apps, plenty of counter/cupboard space & breakfast bar. Enjoy the cozy F/P & large, covered balcony for year-round use. The primary offers a massive walk-in closet & 4pc ensuite & the 2nd bed is well sized. Bonus: 2 side-by-side parking, locker & excellent complex amenities w/gym, amenity rm, theater rm & more. Close to: shopping, transit, bridge access, schools, all sorts of amenities & soon to open 10K+aquatic center. Act Now! Open May 4th & 5th from 12 to 2pm.

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Just Listed - 204 9228 Slopes Mews, Burnaby, SFU, UniverCity

Spacious, Jr. 1 Bedroom Home

Rental & Pet Friendly

1 Bed, 1 Bath, 538 sqft

Priced at $479,000

Enjoy the peace & tranquility this area has to offer. Welcome to UniverCity at SFU, Vancouver's premier lifestyle neighborhood. This Jr. 1 bed, 1 bath, 538sqft home is located near the heart of the area in Fraser by Mosaic, a rental and pet friendly building. Perfect for investors, first time buyers, students & everyone in between. Features: excellent natural light, open layout, herringbone floors, over height ceilings, plenty of cupboard & counter space, SS appliances & in-suite laundry. The large bedroom area has loads of closet space. Close to: transit, shopping, indoor/outdoor recreation & a host of perks available only to UniverCity residences. Do not miss your chance to enjoy living in this great neighborhood! Act Now!

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Pent-up Demand Continues to Build as Sales Remain Slow

The British Columbia Real Estate Association (BCREA) reports that a total of 6,460 residential unit sales were recorded in Multiple Listing Service® (MLS® ) systems in March 2024, a decline of 9.5 per cent from March 2023. The average MLS® residential price in BC in March 2024 was up 6.5 per cent at $1.02 million, compared to an average price of $958,051 in March 2023. The total sales dollar volume was $6.6 billion, a decrease of 3.6 per cent from the same time the previous year.

"March capped off a slow start to the first quarter of 2024," said BCREA Chief Economist Brendon Ogmundson. "Despite a steep decline in fixed mortgage rates, buyers appear to be waiting on the Bank of Canada to lower its policy rate before jumping back into the market."

Year-to-date, BC residential sales dollar volume was up 13 per cent to $15.8 billion, compared with the same period in 2023. Residential unit sales were up 6.4 per cent to 15,938 units, while the average MLS® residential price was up 6.5 per cent to $995,149.

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Provided by: BCREA

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Reciprocity Logo 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.