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Just Sold: 409 9329 University Cr., Burnaby, Burnaby North, SFU


One of the best 3 bdrm, 2 bath Penthouse in Polygon's Harmony. Vaulted ceiling in Living room with 11 ft, Features updated with Newer stainless steel appliances, Samsung washer & Dryer, Marble counter tops, Bathroom vanity & faucets, Master bathroom shower, cabinetry, Lighting and more. This corner end unit with plenty of windows for natural light and view. Easy access to the trail and greenbelt. Rarely available with TWO side by side parking and extra large storage locker in the same building. Amenities include Exercise centre, Recreation room, Bike Storage and Visitor parking. Just steps to shopping, restaurants and elementary school. Pets and rental friendly. Call today for your private showing.


Listing Offered by: Royal Pacific Riverside Realty Ltd.

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Just Listed: 478 Mundy St., Coquitlam, Central Coquitlam


Luxury living at its finest. Top to bottom, in/out no expense spared. This 8bed/10bath/3-car garage/7136sqft home sits on a 9600sqft West facing level lot w/lane access in desirable Central Coquitlam. Features: over height ceilings on every floor, Control4 automation, 10 zone radiant heat, AC, LoE 366 windows, 8 camera sec, Miele appliance package, spice kitchen, guest bed on main floor, 1 bed legal suite, nanny quarters, media room, built-in speakers throughout & much more. The stunning great room has 20' ceilings, floor to ceiling tile wall, 60" F/P & direct yard access. Enjoy summer nights on the covered deck complete w/infra red heaters & speakers. Indulge in an 800sqft master suite w/spa inspired ensuite, soaker tub & oversized shower. All this and a location that can't be beat!


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Weakening housing market fundamentals and an increase in average overvaluation estimates in the second quarter of 2020 have led to Canada’s housing market retaining a moderate degree of vulnerability. This analysis is according to the Canada Mortgage and Housing Corporation (CMHC) Housing Market Assessment (HMA) released today.


Results are based on data as of the end of June 2020 (annual rental apartment vacancy rates are from October 2019) and market intelligence up to the end of August 2020. This national report provides the housing market assessment at the national level and detailed results for 15 Census Metropolitan Areas (CMAs).


The last HMA was released in February, shortly before the COVID-19 pandemic led to significant and rapid changes in the economy. Due to the swift evolution of the situation and unprecedented level of uncertainty, the HMA was suspended until relevant and timely data were available again.


To ensure timely information, the overvaluation framework in this edition relies on preliminary estimates of some fundamental drivers of the housing market in the second quarter of 2020. Final calculations and ratings for overvaluation will be presented in the next HMA as finalized data for these fundamental drivers becomes available. The attached backgrounder also provides additional information.


While the HMA framework still focuses on the same key factors in assessing the degree of housing market vulnerability (overheating, price acceleration, overvaluation and overbuilding), there exists a wider range of housing market vulnerabilities in the context of the COVID-19 crisis. The HMA nonetheless remains useful to keep the pulse of housing markets in Canada and to continue monitoring potential imbalances.


Highlights:

  • The COVID-19 pandemic has affected all regions of the country.
  • Prior to the second quarter of 2020, Vancouver and Toronto were experiencing a general unwinding of housing market imbalances.
  • Vancouver and Toronto saw an increase in observed house prices in the second quarter of 2020 despite the COVID-19 driven decline in their estimated fundamental house prices. This has led to an increase in average overvaluation estimates in both housing markets.
  • The OttawaMoncton, and Halifax housing markets are all now assessed at an overall moderate degree of vulnerability.
  • OttawaMontréalMoncton, and Halifax entered the second quarter of 2020 with emerging imbalances in their respective housing markets.
  • Observed house prices in all four CMAs had been growing prior to the onset of COVID-19 and continued growing in the second quarter, despite the general weakness in housing market fundamentals.
  • This has led to the detection of moderate evidence of overvaluation in Moncton and Halifax while a sustained increase in the rate of house price growth has led to the signaling of price acceleration in Ottawa and Montréal.
  • The COVID-19 pandemic and downward pressure on oil prices further aggravated Edmonton and Calgary’s recent economic challenges.
  • House prices in these Prairie centres fell in the second quarter of 2020. The rate of decline is below what can be explained by housing market fundamentals alone. This has led to an increase in average overvaluation estimates in both housing markets between the first and second quarters of 2020.
  • Evidence of overbuilding that was first detected in 2015 is still present in both markets.


Comparisons between the February 2020 and September 2020 reports
 OverheatingPrice AccelerationOvervaluation*OverbuildingOverall Assessment
  Feb. 2020Sept. 2020Feb. 2020Sept. 2020Feb. 2020Sept. 2020Feb. 2020Sept. 2020Feb. 2020Sept. 2020
Canada Low Low Low Low Moderate Moderate Low Low Moderate Moderate
Victoria Low Low Moderate Low Moderate Moderate Low Low High Moderate
Vancouver Low Low Low Low Moderate Low Low Low Moderate Moderate
Edmonton Low Low Low Low Low Low Moderate Moderate Low Low
Calgary Low Low Low Low Low Low Moderate Moderate Low Low
Saskatoon Low Low Low Low Low Low Low Low Low Low
Regina Low Low Low Low Low Low High Moderate Moderate Low
Winnipeg Low Low Low Low Low Low Moderate Moderate Low Low
Hamilton Moderate Moderate Moderate Low Low Low Low Low Moderate Moderate
Toronto Moderate Low Moderate Low Low Low Low Low Moderate Moderate
Ottawa Low Moderate Low Moderate Low Low Low Low Low Moderate
Montréal Moderate Moderate Low Moderate Low Low Low Low Low Low
Québec Low Moderate Low Low Low Low Low Low Low Low
Moncton Moderate Moderate Low Low Low Moderate Low Low Low Moderate
Halifax Low Low Low Low Low Moderate Low Low Low Moderate
St. John’s Low Low Low Low Low Low Moderate Low Low Low
Degree of vulnerability
  Low   Moderate   High

*The September 2020 overvaluation ratings are based on prliminary stimates.


CMHC issues the HMA on a quarterly basis to provide Canadians with expert and impartial insight and analysis, based on the best data available in Canada. The report provides a comprehensive view of housing market vulnerabilities and identifies imbalances. The HMA is not intended to identify long-term challenges related to housing affordability.


Provided by: CMHC

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BC Housing Markets Heat Up as Summer Ends


The British Columbia Real Estate Association (BCREA) reports that a total of 10,172 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August 2020, an increase of 42.8 per cent from August 2019. The average MLS® residential price in BC was $771,309, a 12.7 per cent increase from $684,093 recorded the previous year. Total sales dollar volume in August was $7.8 billion, a 61.1 per cent increase over 2019.


“Very strong provincial home sales continued in August,” said BCREA Chief Economist Brendon Ogmundson. “While pentup demand from the spring is driving much of the increase, we anticipate a sustained strong level of sales through the fall.”


Total provincial active listings are still down more than 10 per cent year-over-year, with some markets even more under-supplied as the pandemic continues to keep listings low. As a result, prices are sharply rising around the province.


Year-to-date, BC residential sales dollar volume was up 15.8 per cent to $40.4 billion, compared with the same period in 2019. Residential unit sales were up 4.9 per cent to 53,336 units, while the average MLS® residential price was up 10.4 per cent to $757,504. -


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Provided  by: BCREA

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NEW PRICE: 312 501 Cochrane Ave., Coquitlam, Coquitlam West

2 Level Home with 3 Bedrooms

Bright & Open

Location Can’t be Beat

NEW PRICE: $668,000


SMOKING DEAL ALERT! Aggressively priced! "KILLER" location! Fantastic layout! Oh, and ripe for re-development! Have we got your attention yet? Your search ends here. This bright, South/East exposure, top floor, 3bed/2bath/2level/1495sqft home offers stunning vaulted ceilings, engineered flooring throughout, open living/dining rooms, tons of in suite storage, electric F/P & a fully remodeled kitchen w/hi-end SS appliances, granite counters, breakfast bar & island. The spacious master has pass through closest & 3-piece ensuite, the 2nd bedroom is well sized & the 3rd bed is in the loft. Bonus: flex space, 2 parking & locker. Located in the heart of Burnaby/Coquitlam boarder, stone’s throw to: transit, Skytrain, shopping, recreation, schools and every amenity you can think of. Act Now!


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Just Listed: 110 160 Shoreline Circle, Port Moody, College Park

Looking for outdoor space? A place that feels more like a house then condo? Look no further, your search ends here! This 1258sqft/2bed & den/2bath/2level move-in ready home offers an open layout & excellent room separation. Features: laminate floors, SS apps, tons cupboard & counter space, in-suite storage, well-sized den, an abundance of light & 191sqft of deck space; perfect for entertaining. Updates: powder coated railings, plumbing fixtures & counters in kitchen & bathrooms & brand new HW tank. The spacious master has room for king size bed, pass through closets & a 4pc ensuite. The 2nd bed is well size w/good closet space.  Bonus: 2 parking, locker & rental & pet friendly. Centrally located to: schools, parks, Rocky Point, Skytrain, Brewers Row & all sorts of amenities. Act Now!


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Home sale and listing activity continues to increase in August

Home buyers and sellers remained active across Metro Vancouver* in August, with home sale and new listing activity outpacing the region’s historical averages.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,047 in August 2020, a 36.6 per cent increase from the 2,231 sales recorded in August 2019, and a 2.6 per cent decrease from the 3,128 homes sold in July 2020.


Last month’s sales were 19.9 per cent above the 10-year August sales average.


“People who put their home buying and selling plans on hold in the spring have been returning to the market throughout the summer,” Colette Gerber, REBGV Chair said. “Like everything else in our lives these days, the uncertainty COVID-19 presents makes it challenging to predict what will happen this fall.”


There were 5,813 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2020. This represents a 55.1 per cent increase compared to the 3,747 homes listed in August 2019 and a 2.3 per cent decrease compared to July 2020 when 5,948 homes were listed.


This was 34.8 per cent above the 10-year August new listings average.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,803, a 4.4 per cent decrease compared to August 2019 (13,396) and a six per cent increase compared to July 2020 (12,083).


For all property types, the sales-to-active listings ratio for August 2020 is 23.8 per cent. By property type, the ratio is 23.7 per cent for detached homes, 30.5 per cent for townhomes, and 21.6 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.


“Low interest rates and limited overall supply of homes for sale are creating competition in today’s housing market,” Gerber said. “Your local REALTOR® can help you navigate today’s market and ensure that the latest public health requirements are followed at every step of the process. Above all, safety has to remain our top priority during this pandemic.”


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,038,700. This represents a 5.3 per cent increase over August 2019 and a 0.7 per cent increase compared to July 2020.


Sales of detached homes in August 2020 reached 1,095, a 55.1 per cent increase from the 706 detached sales recorded in August 2019. The benchmark price of a detached home is $1,491,300. This represents a 6.6 per cent increase from August 2019 and a one per cent increase compared to July 2020.


Sales of apartment homes reached 1,332 in August 2020, a 19.4 per cent increase compared to the 1,116 sales in August 2019. The benchmark price of an apartment property is $685,800. This represents a 4.5 per cent increase from August 2019 and a 0.5 per cent increase compared to July 2020.


Attached home sales in August 2020 totalled 620, a 51.6 per cent increase compared to the 409 sales in August 2019. The benchmark price of an attached home is $806,400. This represents a 4.4 per cent increase from August 2019 and a 1.1 per cent increase compared to July 2020.


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Provided by: REBGV

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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.