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Just Sold - 207 9288 University Cr., - Burnaby, Burnaby North, SFU


This property is located in a trendy area that is less than an 8-minute walk from Simon Fraser Universtiy. The unit is very bright, clean & quiet & boasts a wonderful view of Mount Baker, the Fraser River, the inlet & awe-inspiring sunrises. The property is beautifully landscaped & the building is very well maintained. Within walking distance there is Nester Market, other shopping, a local pup & spectacular nature filled walking trails that extend to and beyond Burnaby Mountain. This is perfect for an investment or makes for an affordable home for a first time buyer. Showing by appointment only!


Listing Offered by: Nu Strem Realty Inc.

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Just Sold: 24218 104 Ave., Maple Ridge, Albion

Perfect Family Home

4 Bed & Den, 4 Bath, 2706sqft

Priced at $948,800


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Immaculate home in desirable family-oriented neighborhood. Functional layout shows well AND located in popular c̓əsqənelə catchment. Search no further! This 4 bed+den/4bath/3lvl/ 2706sqft home sits on a 3068sqft South facing lot. Features: plenty of natural light, fresh paint, welcoming entrance, great room style main floor, gourmet kitchen w/plenty of cupboard & counter space, SS appls, den & access to covered porch; perfect for year-round entertaining. Up: huge master w/ensuite & oversized soaker & walk-in closet, 2 well-sized rooms, laundry & nook space. Benefit from the bright, partially above ground 1 bed in-law suite w/laundry & extra space for up-stairs living. Bonus: large dble car garage w/tons storage & A/C! Fantastic location close to all amenities. Call for showing details.

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Hafez is an absolute pleasure to work with! His deep knowledge of the industry, and vast experience working in UniverCity at SFU, made the process of buying and selling in a crazy market so much less stressful. He always made us feel like we were his top priority and ensured that all the details - big or small - were completely taken care of. This is our third time working with Hafez and we can't recommend him highly enough.


K. & P. R

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Just Sold: 28 9229 University Cr., Burnaby, Burnaby North, SFU

Serenity Garage Home

3 bed, 3 bath, 1403sqft

Updated Throughout

Priced at $824,800


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Rarely available and highly sought after. Looking for more space? Always wanted a garage? Your search ends here. This 3bed/3bath/3lvl/1403sqft home w/tandem garage is located in Serenity of UniverCity, Vancouver's premier lifestyle neighborhood. Main: open layout w/tons of light, separate living & dining rms, laminate floors, updated kitchen w/SS appls, quartz counters, breakfast bar, eating area, & 2pc bath. Enjoy the private, covered green space facing balcony. Up: master w/5pc ensuite, updated counters & loads of closet space. 2nd & 3rd rms, all new flooring & 4pc bath w/updated counters complete this lvl. Lower: welcoming entrance w/heated floors & tons of storage. Close to: transit, shopping, indoor/outdoor rec. & a host of UniverCity resident only perks. Call now for showing details.

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Housing market continues to moderate in May

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and new listings were both down between April and May 2021.


Summary:

  • National home sales declined by 7.4% on a month-over-month basis in May.
  • Actual (not seasonally adjusted) activity was up 103.6% year-over-year.
  • The number of newly listed properties fell back by 6.4% from April to May.
  • The MLS® Home Price Index (MLS® HPI) rose 1% month-over-month and was up 24.4% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 38.4% year-over-year gain in May.

Home sales recorded over Canadian MLS® Systems fell by 7.4% month-over month in May 2021, building on the 11% decline recorded in April. Activity nonetheless remains historically high, but in contrast to March’s all-time record it is now running closer to levels seen in the second half of 2020.


Month-over-month declines in sales activity were observed in close to 80% of all local markets. It was a mixed bag of results, with a slowdown in sales observed in most large markets across Canada.


With May 2021 activity setting a record for the month, and May 2020 sales marking the worst May since the late 1990s, the actual (not seasonally adjusted) number of transactions this year represented a 103.6% increase on a year-over-year basis.


“While housing markets across Canada remain very active, we now have two months of moderating activity in the books, and that goes for demand, supply and prices,” stated Cliff Stevenson, Chair of CREA. “More and more, there is anecdotal evidence of offer fatigue and frustration among buyers, and the urgency to lock down a place to ride out COVID would also be expected to fade at this point given where we are with the pandemic. As always, your best bet is to consult with your local REALTOR® for the best information and guidance about buying or selling a home in this rapidly changing market,” continued Stevenson.


“With the synchronous cooling off of demand, supply and prices in recent months, one could draw comparisons to last year’s initial lockdowns, but this year feels different,” said Shaun Cathcart, CREA’s Senior Economist. “Of course, the main difference this year is that the slowdown in the market was coincident not just with record COVID cases and fresh lockdowns but with the take up in the vaccination rate, so maybe we all finally have something else to think about other than housing and being stuck at home all the time. Going forward there is still a good probability of increased churn in resale markets as we get more certainty around our post-COVID lives and people move around more than they would have in a non-COVID world. But for now at least, with the light at the end of the tunnel so close, it feels like housing may take a back seat to us all starting to get our lives back to normal this summer.”


The number of newly listed homes declined by 6.4% in May compared to April. At a time where so many markets are struggling with historically low inventory, sales activity depends on a steady stream of new listings each month. As such, the concurrent gains in new supply and sales in March followed by synchronous declines in April and May suggest the slowdown in sales may not only be a demand story. New listings were down about 70% of all local markets in May.


The national sales-to-new listings ratio was 75.4% in May 2021, down slightly from 76.2% posted in April. The long-term average for the national sales-to-new listings ratio is 54.6%, so it remains historically high; although, it has been moderating since peaking at 90.7% back in January.


Based on a comparison of sales-to-new listings ratio with long-term averages, only about a quarter of all local markets were in balanced market territory in May, measured as being within one standard deviation of their longterm average. The other three-quarters of markets were above long-term norms, in many cases well above.


The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.


There were 2.1 months of inventory on a national basis at the end of May 2021, up from a record-low 1.7 months in March but still well below the long-term average for this measure of over 5 months.


The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 1% month-over-month in May 2021 – a noticeable deceleration. Most of the recent deceleration in month-over-month price growth has come from the single-family space compared to the more affordable townhome and apartment segments.



The non-seasonally adjusted Aggregate Composite MLS® HPI was up 24.4% on a year-over-year basis in May. Based on data back to 2005, this was another record yearover-year increase; although, it is not likely to go much higher at this point.


While the largest year-over-year gains continue to be posted across Ontario, this is also where month-over-month price growth has been slowing the most. Meanwhile, price growth has continued to accelerate in some other parts of the country, thus serving to reduce the year-over-year growth disparity between Ontario and other provinces.


The MLS® HPI provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.


The actual (not seasonally adjusted) national average home price was a little over $688,000 in May 2021, up 38.4% from the same month last year. That said, it is important to remember that the national average price dropped last April and May during the initial lockdowns as the higher-end of every market was effectively shut down. That serves to stretch these year-over-year comparisons over and above what is actually happening to prices.


The national average price is also heavily influenced by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts close to $140,000 from the national average price.


Provided by: CREA

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Strong Demand, Dwindling Supply for BC Housing Markets

The British Columbia Real Estate Association (BCREA) reports that a total of 12,638 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May 2021, an increase of 178.2 per cent over May 2020 when the onset of the COVID-19 pandemic prompted a lockdown of the provincial economy. The average MLS® residential price in BC was $916,340, a 26.2 per cent increase from $726,335 recorded in May 2020. Total sales dollar volume was $11.6 billion, a 251 per cent increase from last year.


“Provincial housing markets continue to calm after peaking in March,” said BCREA Chief Economist Brendon Ogmundson. “The implementation of a stricter mortgage stress test in June may have a minor impact on home sales but we expect strong market activity over the second half of the year.”


Total active residential listings were down 17 per cent year-over-year in May and dipped lower on a seasonally adjusted basis following two prior months of rising active listings.


“On the supply side, markets in the Lower Mainland are seeing a strong supply response, with new listings rising,” said Ogmundson, “however, new listings in markets outside of Metro Vancouver have started to flatten out.”


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Provided by: BCREA

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Just Listed: 24218 104 Avenue, Maple Ridge, Albion

Perfect Family Home

4 Bed & Den, 4 Bath, 2706sqft

Priced at $948,800


Click here for more...


Immaculate home in desirable family-oriented neighborhood. Functional layout shows well AND located in popular c̓əsqənelə catchment. Search no further! This 4 bed+den/4bath/3lvl/ 2706sqft home sits on a 3068sqft South facing lot. Features: plenty of natural light, fresh paint, welcoming entrance, great room style main floor, gourmet kitchen w/plenty of cupboard & counter space, SS appls, den & access to covered porch; perfect for year-round entertaining. Up: huge master w/ensuite & oversized soaker & walk-in closet, 2 well-sized rooms, laundry & nook space. Benefit from the bright, partially above ground 1 bed in-law suite w/laundry & extra space for up-stairs living. Bonus: large dble car garage w/tons storage & A/C! Fantastic location close to all amenities. Call for showing details.

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Just Sold: 302 9298 University Cr., Burnaby, Burnaby North, SFU


Bright, open and clean studio condo in convenient location atop Burnaby Mountain by Simon Fraser University. Solid concrete, quiet building (Novo I) 9' x 5' covered balcony. Well equipped fitness room in building. 1 parking, granite counters. Very functional floor plan. Rentals allowed and great investment.


Listing offered by: Sutton Group-West Coast Realty

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May 2021 Top 10
Congrats to all my fellow realtors and a big "Thank You" to all my clients for Trusting The Value in my services for their real estate Needs!
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Just Listed: 28 9229 University Cr., Burnaby, Burnaby North, SFU

Serenity Garage Home

3 bed, 3 bath, 1403sqft

Updated Throughout

Priced at $824,800


Click here for more...


Rarely available and highly sought after. Looking for more space? Always wanted a garage? Your search ends here. This 3bed/3bath/3lvl/1403sqft home w/tandem garage is located in Serenity of UniverCity, Vancouver's premier lifestyle neighborhood. Main: open layout w/tons of light, separate living & dining rms, laminate floors, updated kitchen w/SS appls, quartz counters, breakfast bar, eating area, & 2pc bath. Enjoy the private, covered green space facing balcony. Up: master w/5pc ensuite, updated counters & loads of closet space. 2nd & 3rd rms, all new flooring & 4pc bath w/updated counters complete this lvl. Lower: welcoming entrance w/heated floors & tons of storage. Close to: transit, shopping, indoor/outdoor rec. & a host of UniverCity resident only perks. Call now for showing details.

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Home sale and listing activity in Metro Vancouver moves off of its  record-breaking pace

The Metro Vancouver* housing market saw steady home sale and listing activity in May, a shift back from the record-breaking activity seen in the earlier spring months.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,268 in May 2021, a 187.4 per cent increase from the 1,485 sales recorded in May 2020, and a 13 per cent decrease from the 4,908 homes sold in April 2021.


Last month’s sales were 27.7 per cent above the 10-year May sales average.


“While home sale and listing activity remained above our long-term averages in May, conditions moved back from the record-setting pace experienced throughout Metro Vancouver in March and April of this year,” Keith Stewart, REBGV economist said. “With a little less intensity in the market today than we saw earlier in the spring, home sellers need to ensure they’re working with their REALTOR® to price their homes based on current market conditions.”


There were 7,125 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2021. This represents a 93.4 per cent increase compared to the 3,684 homes listed in May 2020 and a 10.2 per cent decrease compared to April 2021 when 7,938 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,970, a 10.5 per cent increase compared to May 2020 (9,927) and a 7.1 per cent increase compared to April 2021 (10,245).


"With sales easing down from record peaks, a revised mortgage stress test that reduces the maximum borrowing amounts by approximately 4.5 per cent, and the average five-year fixed mortgage rate climbing back over two per cent since the beginning of 2021, we’ll pay close attention to these factors leading into the summer to understand what affect they’ll have on the current market cycle,” Stewart said.


For all property types, the sales-to-active listings ratio for May 2021 is 38.9 per cent. By property type, the ratio is 29.8 per cent for detached homes, 53.8 per cent for townhomes, and 43.5 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 seller’s market conditions experienced throughout much of the pandemic highlight the need for increasing the volume and variety of housing supply across our region,” Stewart said. “Doing this requires a more disciplined focus on planning, reducing building costs, understanding demographic changes, and expediting the building approval process.”


The MLS® Home Price Index1 composite benchmark price for all residential properties in Metro Vancouver is currently $1,172,800. This represents a 14 per cent increase over May 2020 and a 1.5 per cent increase compared to April 2021.


Sales of detached homes in May 2021 reached 1,430, a 166 per cent increase from the 537 detached sales recorded in May 2020. The benchmark price for a detached home is $1,800,600. This represents a 22.8 per cent increase from May 2020 and a 1.7 per cent increase compared to April 2021.

Sales of apartment homes reached 2,049 in May 2021, a 213 per cent increase compared to the 653 sales in May 2020. The benchmark price of an apartment home is $737,100. This represents a 7.9 per cent increase from May 2020 and a 1.2 per cent increase compared to April 2021.


Attached home sales in May 2021 totalled 800, a 168 per cent increase compared to the 298 sales in May 2020. The benchmark price of an attached home is $936,300. This represents a 16.3 per cent increase from May 2020 and a 1.8 per cent increase compared to April 2021.


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Provided by: REBGV

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Just Sold: 8 1251 Lasalle Pl., Coquitlam, Canyon Springs


Excellent Location in Chateau Lasalle, 4 Bed, 4 Bath, 2.310 Sqft. 2 stories with Walk out basement with 1Bed, Huge Rectration Room & Full Bath, south facing, Hardwood & Laminate flooring throughout the whole house, Gas fireplace, Master bedroom with walk-in closet. Private Fenced Patio, double garage, Walk to Walton Elementary, Scott Creek Middle School, Pinetree Secondary, Douglas College, Coquitlam Mall, Lafarge Lake, Evergreen Skytrain Station. 


Listing Offered by: Royal Pacific Tri-Cities Realty

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