Spacious 2 Bedroom

243sqft Fully Covered Patio

Price at $474,800

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Looking for a home with more space? Your search is over! Welcome to this spacious 2 bed , 1 bath, 829sqft home. Located in Altaire, a concrete building at UniverCity; Vancouver's premier lifestyle neighborhood. Features: spacious open layout, dining & living rooms to accommodate full size furniture, a kitchen with plenty of counter & cupboard space, SS apps, cozy F/P, extra storage plus a 243sqft fully covered patio. The well sized master has pass-through closets & access to a cheater ensuite. The 2nd bed provides plenty of room. Close to: transit, shopping, nature, indoor/outdoor rec. & a host of amenities available only to UniverCity residents. Act Now!

Ultra-private Spanish Villa on 10,000sf Estate lot w/creek & greenbelt in the heart of Burke Mtn. Wrought iron gate & oversized arched entry leads into main floor featuring formal living rm w/brick accented gas f/p, floor to ceiling windows overlooking creek & greenbelt. Formal dining rm w/hardwood floors, waffle ceilings & French drs out to deck w/view of creek. Kitchen surrounded in windows also overlooks creek & private yard/oasis. Large Master on main w/w-i closet. Updated main bath w/claw foot tub & oversized tile shower w/heavy gauge glass door. Spiral stairs down to fully finished bsmt w/2 bdrm, 2nd Master w/new ensuite complete w/5' stone & slate accented shower plus games rm & sunroom w/access to yard. BONUS 20x17 detached ultimate man cave a must see. Endless possibilities! OPEN Aug 25 2 to 4 pm.

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Large 2 Bed Home

Fully Covered Patio

Open: Aug 24 from 1 to 3

Price at $484,800

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Clean & Spacious! Located in UniverCity, Vancouver's premier lifestyle neighborhood, Novo II is a concrete rental & pet friendly building with private gym & amenity room. This South East facing, 2bed, 2bath, 916sqft home offers an open layout, excellent room separation & well sized second bed. You won't be disappointed. Features: freshly painted, stainless apps, granite counters throughout, breakfast bar & lots of cupboard/counter/closet space. The large master has 3pc ensuite & walk-in closet. Enjoy BBQs on the covered patio. Excellent location: transit, shopping, nature, indoor/outdoor rec. & a host of amenities available only to UniverCity residents. Do not miss your chance to enjoy living in this great lifestyle neighborhood! Act Now. Open Aug 24 from 1 to 3.

Welcome home to this delightful 3 bed /2 bath corner unit at Simon Fraser Village. This recently renovated townhome offers large dinning area, modern kitchen with a custom island, bright south-facing living room which opens up to a beautiful fenced backyard. Fully finished basement offers flex area and large recreation space. Save lots on heating costs as all the windows & sliding doors are upgraded to double glazed. LOCATION! Embrace the amazing and convenient location, walking distance to Lougheed Town Centre Mall, Skytrain, Walmart, Costco, Cameron recreation centre, parks & all levels of school. Playgrounds & daycare in the complex makes this a perfect home for starting a family. 

Listing Offered by: Royal LePage West Real Estate Services

The British Columbia Real Estate Association (BCREA) reports that a total of 7,930 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, an increase of 12.4 per cent from the same month last year. The average MLS® residential price in the province was $684,497, a decline of 1.6 per cent from July 2018. Total sales dollar volume was $5.43 billion, a 10.5 per cent increase from the same month last year. “BC home sales climbed higher for the first time in 18 months on a year-over-year basis in July,” said BCREA Chief Economist Cameron Muir. Housing demand has also trended higher since March, rising 21 per cent on a seasonally adjusted basis. “Households appear to be adjusting to the tighter credit environment as the shock of the B20 stress test dissipates.”

MLS® residential active listings in the province trended lower in July, down 3 per cent from June and 6 per cent from April on a seasonally adjusted basis. Active listings were up 12.4 per cent to 41,621 units on a year-over year basis, while overall market conditions remained unchanged from 12 months ago with the sales-to-active listings ratio at 19.1 per cent.

Year-to-date, BC residential sales dollar volume was down 18.9 per cent to $30 billion, compared with the same period in 2018. Residential unit sales decreased 14.4 per cent to 43,612 units, while the average MLS® residential price was down 5.3 per cent to $687,413.

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Provided by: BCREA

The trend in housing starts was 208,970 units in July 2019, compared to 205,765 units in June 2019, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“The national trend in housing starts increased in July, despite a decrease in the level of SAAR activity from June," said Bob Dugan, CMHC's chief economist. “High levels of activity in apartment and row starts in urban centres in recent months continued to be reflected in the high level of the total starts trend in July”.

Monthly Highlights

Vancouver

Vancouver Census Metropolitan Area (CMA) housing starts continued to trend higher in July. Compared to the same period last year, the year-to-date single-detached home starts declined while the multi-unit starts increased. More than 85% of starts were multi-unit, most of which are in the City of Vancouver and the City of Surrey. Overall, continuous strengthening of economic fundamentals supported a steady growth of 25% in the year-to-date starts in the CMA between 2018 and 2019.

Victoria

Housing starts in the Victoria CMA declined in July, relative to the same month last year, across both the single-detached and multi-unit segments of the market. In the first seven months of 2019, housing starts were down approximately 12% relative to the same period in 2018. Continued overall strength in housing starts in the Victoria area is symptomatic of strong housing demand seen over the past three years and current strong demand for multi-unit options, in particular, in the area.

Lethbridge

The trend in total starts in the Lethbridge CMA was higher in July 2019 compared to the previous month. Apartment starts trended 360% higher compared to June as rental demand continue to increase. Single-detached and row starts trended lower while semi-detached starts remained stable.

Regina

Total housing starts in Regina trended lower in July after the pace of single-detached and multi-family construction slowed from the previous month. In 2019, builders have initiated just over a third of the total units started over the same period in 2018. This is largely due to higher construction costs and weaker economic conditions that have moderated new home demand and caused some projects to either be shelved or cancelled altogether.

Winnipeg

The trend in total housing starts in the Winnipeg CMA decreased in July compared to the previous month. The downward trend in total starts was mainly due to decreases in multi-family starts as both row and apartment starts trended lower. Single-family starts, however, trended higher but were not enough to offset the decreases in the multi-family units.

Toronto

Total housing starts trended lower in July in the Toronto CMA, primarily driven by lower multi-unit starts (semi-detached, rows, and apartments). Pre-construction sales of multi-unit homes, particularly condominium apartments, have been strong for the last few years and will break ground at a varying pace throughout the year. Strong demand for relatively affordable higher density housing continues to persist among homebuyers in Toronto.

St. Catharines

In July 2019, the total housing starts trend in the St. Catharines CMA inched lower. The total housing starts trend in recent months remained close to a 30-year high with townhomes accounting for the largest share. Improvements in employment conditions for people aged 25-44 fueled first-time home buying activity in relatively affordable home types such as townhomes.

Ottawa

The monthly trend for housing starts grew in Ottawa in July across all housing types. Year-to-date, total housing starts sit 5.3% higher than the same period last year with the strongest growth in condominium apartments followed by row starts. Low resale and rental market supply coupled with higher ownership costs for single-detached homes are encouraging construction of less expensive dwelling types.

Montréal

From January to July, housing starts in the Montréal area were up compared to the same period last year. This gain was solely attributable to rental housing construction, as condominium and single-family home starts recorded decreases. The low vacancy rates on the conventional rental market and the greater proportion of young households now opting for rental housing have kept stimulating rental housing starts. Seniors’ rental apartment construction has also posted strong growth since the beginning of the year.

Saguenay

From January to July, housing starts in the Saguenay CMA dropped by 18% compared to the same period last year. This decrease in activity was attributable to fewer homeowner (freehold and condominium) housing starts. Overall, residential construction in the area has been limited by the slowdown in employment and low population growth.

New Brunswick

In New Brunswick, year-to-date total housing starts are up 40% compared to last year. The increase largely reflects unprecedented levels of rental apartment construction, particularly in Moncton and Saint John. These two CMAs alone accounted for 75% of all new multi-unit construction in the province. The number of multi-unit starts this year are the highest recorded in the first seven months since 2010. New Brunswick’s urban centres are benefiting from provincial strategies to actively attract and retain immigrants. These new arrivals are boosting rental demand, in addition to demand from an aging population.

Prince Edward Island (PEI)

Total housing starts in PEI were 319% higher in July, due to the ongoing surge in new apartment construction activity in response to the Island’s near zero vacancy rate. The PEI economy continues to outperform the other Atlantic Provinces, driven primarily by increased capital project spending and growth in population, income and employment.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of Canada’s housing market. In some situations, analyzing only SAAR data can be misleading, as they are largely driven by the multi-unit segment of the market which can vary significantly from one month to the next.

The standalone monthly SAAR of housing starts for all areas in Canada was 222,013 units in July, down 9.6% from 245,455 units in June. The SAAR of urban starts decreased by 10.4% in July to 209,122 units. Multiple urban starts decreased by 12% to 162,722 units in July while single-detached urban starts decreased by 4.6% to 46,400 units.

Rural starts were estimated at a seasonally adjusted annual rate of 12,891 units.

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Provided by: CMHC

Central Location

South Facing

Open: Aug. 11 from 2 to 4

Price at $364,800

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Bright, South facing, spacious, open layout; just a few ways to describe this home. Located in popular Creekside Estates, designed with accessibly in mind, this 2bed, 2bath, 866sqft home is a must see. Features: laminate floors, stainless appliances, granite counters, plenty of cupboard and counter space, breakfast bar, excellent room separation, wide hallways and door ways, plenty of storage space w/large laundry room & a fully covered balcony; perfect for year round BBqs. Benefit from a large master w/pass-through closet, 3pc ensuite w/oversized shower, a well sized 2nd bed & 4pc main bath. All this and 1 parking, 1 storage & easy access to shopping, recreation, schools & all sorts of amenities. Act Now! Open Sat. Aug 11 from 2 to 4.

Home buyer demand picked up across Metro Vancouver* last month, making July, a traditionally quieter month in real estate, the second highest selling month so far this year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,557 in July 2019, a 23.5 per cent increase from the 2,070 sales recorded in July 2018, and a 23.1 per cent increase from the 2,077 homes sold in June 2019.

Last month’s sales were 7.8 per cent below the 10-year July sales average.

“While home sale activity remains below long-term averages, we saw an increase in sales in July compared to the less active spring we experienced,” Ashley Smith, REBGV president said. “Those looking to buy today continue to benefit from low interest rates, increased selection, and reduced prices compared to the heated market a few years ago.”

There were 4,613 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2019. This represents a 3.3 per cent decrease compared to the 4,770 homes listed in July 2018 and a 2.9 per cent decrease compared to June 2019 when 4,751 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 14,240, a 17.3 per cent increase compared to July 2018 (12,137) and a 4.9 per cent decrease compared to June 2019 (14,968).

For all property types, the sales-to-active listings ratio for July 2019 is 18 per cent. By property type, the ratio is 13.5 per cent for detached homes, 20 per cent for townhomes, and 22 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.

“To better understand conditions in your property type or neighbourhood of choice, it’s important to work with your local REALTOR®. They can help you develop a strategy to reach your long-term real estate goals,” Smith said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $995,200. This represents a 9.4 per cent decrease over July 2018 and a 0.3 per cent decrease compared to June 2019.

Sales of detached homes in July 2019 reached 841, a 32 per cent increase from the 637 detached sales recorded in July 2018. The benchmark price for detached properties is $1,417,000. This represents a 10.5 per cent decrease from July 2018, and a 0.5 per cent decrease compared to June 2019.

Sales of apartment homes reached 1,243 in July 2019, a 15.2 per cent increase compared to the 1,079 sales in July 2018. The benchmark price of an apartment property is $653,200. This represents an 8.8 per cent decrease from July 2018, and a 0.2 per cent decrease compared to June 2019.

Attached home sales in July 2019 totalled 473, a 33.6 per cent increase compared to the 354 sales in July 2018. The benchmark price of an attached unit is $770,000. This represents a nine per cent decrease from July 2018, and a 0.6 per cent decrease compared to June 2019.

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Provided by: REBGV