Through your support and confidence I am humbled to have received these awards: Medallion Club – top 10% of all Real Estate Board of Greater Vancouver Realtors, Royal LePage Diamond award – top3% of agents in this local area. Ranking #6 out of almost 200 agents in the Royal LePage West Real Estate Services office
Excellent Condition
Great Family Neighborhood
Priced at $758,800
Fantastic Southwest Maple Ridge location. Quiet family oriented neighborhood. Excellent condition with many updates. You won't be disappointed. Welcome to this 3 bed, 3 bath, 1754sqft basement entry home with plenty of parking, a double car garage w/tons of storage, a flat fenced lot and more. Features: upper level has 3 good size rooms, 2pc master ensuite, laminate flooring throughout, cozy gas fireplace, functional kitchen w/eating area and access to a large fully covered deck; perfect for year round entertainment. The lower level offers newer vinyl flooring, large rec room, 2pc bathroom and direct yard access; could be easily suited. Bonus: high efficiency furnace, 4 year young roof. Act Now! Call for your private showing.
Congratulations!
You are among the top three per cent of Royal LePage agents in your regional market!
I am thrilled to offer my sincere congratulations on achieving Royal LePage Top Tier status and earning the 2020 Royal LePage Diamond Award! It is a remarkable accomplishment to be recognized among the elite performers in our national network of more than 18,000 REALTORS®.
Your dedication, hard work and incredible success over this past year, and your ability to rise to the challenges before you, are a shining example of the foundation our organization is built upon. It is because of people like you that Royal LePage is Canada’s Real Estate Company.
Sincerely,
Phil Soper
President and CEO
Royal LePage
Hafez was absolutely wonderful to work with. It’s like having a friend on the “inside” that is working for you. He really cares about his clients as well as understands the SFU's unique community and neighborhood. I can’t speak highly enough of Hafez as our real estate agent. His professionalism, knowledge, honesty, integrity and hard work ethics were very much appreciated and respected. He was detail oriented, honest, good with people and has a knack for matching the buyer with what my needs were as the seller. Any questions I had, I could approach him with confidence knowing he was looking out for me. Thanks Hafez!
L.& K. L
The British Columbia Real Estate Association (BCREA) reports that a total of 93,953 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2020, an increase of 21.5 per cent from the 77,350 units sold in 2019. The annual average MLS® residential price in BC was $782,027, an 11.7 per cent increase from $700,369 recorded the previous year. Total sales dollar volume was $73.5 billion, a 35.6 per cent increase from 2019.
“Housing markets across the province staged a remarkable recovery during the COVID-19 pandemic and recession,” said BCREA Chief Economist Brendon Ogmundson. “We expect considerable momentum heading into 2021.”
A total of 8,268 MLS® residential unit sales were recorded across the province in December, a record for the month and up 57.8 per cent from December 2019. The average MLS® residential price in BC was $847,600, an increase of 12.5 per cent from December 2019. Total sales dollar volume was $7 billion, a 77.5 per cent increase year-over-year.
“While 2021 is expected to get off to a roaring start, the level of supply in the market is near a record low,” added Ogmundson. “That will likely translate to considerable pressure on prices until listings pick-up.”
Total active residential listings were down 16.1 per cent to 20,725 units in December.
Provided by: BCREA
The Hub-Rarely Available Sub-Penthouse unit! Steps from Simon Fraser University and conveniently located on top of Nester’s Market. This 1 Bedroom boast stainless steel appliances, In-suite laundry, engineered hardwood floors, quartz stone countertops and a fabulous large balcony. Quality concrete leed silver building built by Liberty Homes. Extremely low maintenance fee at only $127.98/month. 1 parking and storage locker included. Pets and rental friendly. Everythingat your door step! Grocery store, local shops, transit and University Highland Elementary school. Residents enjoy access to the recreation facilities at SFU which include Olympic size pool, library, racket sports and much more for a small fee!
Listing Offered by: Re/Max Real Estate Services
Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded in 2019, and a 25.7 per cent increase from the 24,619 homes sold in 2018.
Last year’s sales total was 2.8 per cent below the 10-year sales average.
“When the pandemic began in March, the housing market came to a near standstill. We knew, however, that shelter needs don’t go away in times of crisis, they intensify," Colette Gerber, REBGV Chair said. “The real estate community worked closely with our regulatory bodies and public health officials in the spring to ensure appropriate precautions and protocols were implemented so BC REALTORS® could help residents safely meet their housing needs."
Home listings on the Multiple Listing Service® (MLS®) in Metro Vancouver reached 54,305 in 2020. This is a 4.6 per cent increase compared to the 51,918 homes listed in 2019 and a 1.3 per cent increase compared to the 53,614 homes listed in 2018.
Last year’s listings total was 2.7 per cent below the region’s 10-year average.
“After adapting to the COVID-19 environment, local home buyer demand and seller supply returned at a steady pace throughout the summer, fall and winter seasons," Gerber said. "Shifting housing needs and low interest rates were key drivers of this activity in 2020. Looking ahead, the supply of homes for sale will be a critical factor in determining home price trends in 2021.”
The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,047,400. This is a 5.4 per cent increase compared to December 2019.
The benchmark price for apartments increased 2.6 per cent in the region last year. Townhomes increased 4.9 per cent and detached homes increased 10.2 per cent.
December Summary
REBGV reports that residential home sales in the region totalled 3,093 in December 2020, a 53.4 per cent increase from the 2,016 sales recorded in December 2019, and a 0.9 per cent increase from the 3,064 homes sold in November 2020.
Last month’s sales were 57.7 per cent above the 10-year December sales average and is the highest total for the month on record.
“Robust December sales outpaced long-term averages in what’s traditionally the quietest month of the year in real estate. This was part of an unusual seasonal pattern the market followed last year, which can be attributed in large part to the pandemic,” Gerber says.
There were 2,409 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2020. This represents a 51.7 per cent increase compared to the 1,588 homes listed in December 2019 and a 40.8 per cent decrease compared to November 2020 when 4,068 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,538, a 0.8 per cent decrease compared to December 2019 (8,603) and a 23.2 per cent decrease compared to November 2020 (11,118).
For all property types, the sales-to-active listings ratio for December 2020 is 36.2 per cent. By property type, the ratio is 35.2 per cent for detached homes, 50.4 per cent for townhomes, and 33.1 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.
Sales of detached homes in December 2020 reached 1,026, a 71.3 per cent increase from the 599 detached sales recorded in December 2019. The benchmark price for detached homes is $1,554,600. This represents a 10.2 per cent increase from December 2019 and a one per cent increase compared to November 2020.
Sales of apartment homes reached 1,474 in December 2020, a 40 per cent increase compared to the 1,053 sales in December 2019. The benchmark price of an apartment property is $676,500. This represents a 2.6 per cent increase from December 2019 and is unchanged from November 2020.
Attached home sales in December 2020 totalled 593, a 62.9 per cent increase compared to the 364 sales in December 2019. The benchmark price of an attached home is $813,900. This represents a 4.9 per cent increase from December 2019 and a 0.1 per cent decrease compared to November 2020.
Provided by: REBGV
Endless Views
Excellent Layout
Priced at $568,800
Stunning top floor corner home located at the apex of the building. South East facing completely updated w/endless views. Your search ends here! This 2bed/2bath/1083sqft home features an abundance of light from 180 degrees of windows, a welcoming entrance & excellent room separation. Updates: quality flooring, resurfaced kitchen cabinets w/stone counters, updated apps, newer plumbing & light fixtures & more. The kitchen has eating area & access to covered balcony. Entertain in an open living & dining area w/cozy gas F/P. The spacious master has walk-in closet & ensuite. The 2nd bed is well sized w/large closet. Located in Harmony, this popular complex is rental & pet friendly. Close to: transit, shopping, nature, indoor/outdoor rec. & a host of UniverCity resident only perks. Act Now!
Housing demand exceeded expectations in the second half of 2020. The supply of homes available for sale failed to keep pace, driving home prices higher and pushing unmet buyer demand into the new year. According to the Royal LePage Market Survey Forecast, the aggregate [1] price of a home in Canada is set to rise 5.5 per cent year-over-year to $746,100 in 2021, with the median price of a two-storey detached house and condominium projected to increase 6.0 per cent and 2.25 per cent to $890,100 and $522,700, respectively. [2]
“The leading indicators we analyze are pointing to a market that favours property sellers in the all-important spring of 2021,” said Phil Soper, president and CEO, Royal LePage. “Across the country, a large number of hopeful buyers intent on improving their housing situation were not able to find the home they were looking for this year, as the inventory of properties for sale came nowhere near to meeting surging demand. With policy makers all but promising record low, industry supportive interest rates to continue, we do not see this imbalance improving in the new year. The upward pressure on home prices will continue.
“There was a clear shift towards larger properties and single-family dwellings in 2020, as families repurposed homes to become their office, school classroom, gymnasium and restaurant during the pandemic,” Soper continued. “We expect this trend to moderate as life returns to normal in the months ahead. It is also worth noting, that Canada welcomed a new generation of first-time homeowners this year, encouraged by lower financing costs and softer demand for city centre condominiums. Urban living remains attractive for many.”
The value of single-family houses and homes outside of major urban markets are forecast to continue to outpace city core condominiums in the year ahead, driven both by Canadians seeking larger homes in a time where remote work has become more commonplace, and broad-based demographic trends, including baby-boomer retirement.
“Mega-trends that predate the pandemic are pushing home prices higher in secondary markets outside of our largest cities. Corporate Canada’s pandemic-driven move to work-from-home operations has simply accelerated relocation patterns already underway,” said Soper. “The huge baby-boomer demographic began post-children migration to suburban and recreational-style communities in the middle of the last decade, and material numbers of the equally populous millennial generation have been exiting city centre condos in search of space as they began families.”
Soper added that the trend of high demand outside of urban centres will slowly ease as listings in city centres become more competitive against growing prices in suburban and exurban markets.
Immigration is critical to the housing market both indirectly, as it is supportive of economic growth, as well as directly through housing demand. In October, the federal government announced its plan to add more than 1.2 million immigrants over three years, a significant jump from previous years. Previously published Royal LePage research[3] into this demographic shows that newcomers to Canada typically rent for three years before purchasing, after which they have a material impact on new household formation and overall housing demand. An increase in immigration is supportive of both the resale market and investment demand for rental condominiums.
Nationally, the condominium segment is expected to see healthy demand in most of Canada’s largest cities. A notable exception is the Greater Toronto Area where a softer condominium market began emerging in the second half of 2020. Within the region, modest price gains for larger units outside of the city centre is expected to continue to offset softer demand in the downtown core. With the return of international university student rental demand and newly arrived immigrants in the second half of 2021, demand for centrally located units should increase.
The concern regarding the impact of potential mortgage defaults related to mortgage deferrals during the summer has eased significantly, as many Canadians who deferred payments have begun repayment. According to CMHC, as of September 30, 2020, the organization’s entire insured book of business has 5 per cent of loans with a payment deferral in place; a decline from approximately 8 per cent in August.[4]
“The first half of 2021 will be something of an economic and social tug-o-war between advancing medical science and surging housing demand,” concluded Soper. “The real estate brokerage industry has developed protocols that allow us to safely sell property during the pandemic, yet some would-be sellers will remain cautious and not list their properties while high levels of COVID-19 transmission remain the norm, restricting available housing supply.
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Provided by: Royal LePage Canada
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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.