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NEW PRICE - 209 7377 14th Ave - Burnaby, Burnaby East, Edmonds

Excellent Condition

Move-In Ready

1 Bed, 1 Bath, 615sqft

Priced at $528,800


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Bright West facing with a location to beat! This 1 bed, 1 bath, 615sqft home located in the Vibe, a 9 year young contemporary styled building of Edmonds, Burnaby East will not disappoint. Features: an open plan, laminate flooring, spacious kitchen with stainless appliances, granite counters, tiled back splash, convenient breakfast bar, large covered balcony & laundry closet with extra storage. The well size carpeted bedroom offers good closet space. All this and: rental & pet friendly, 2 parking spots, locker, gym and designed with wheelchair/accessibility in mind. Close to: transit, shopping, recreation & all sorts of amenities. Act Now. Call for showing details.

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Just Sold: 301 9025 Highland Crt., Burnaby, Burnaby North, SFU

Excellent Condition

Jr. 1 Bed, 1 Bath, 407sqft

Priced at $388,800


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Investor, student and first-time buyer alert! Excellent condition, nothing to do but move in. Located in Highland House, a rental friendly building, this Jr.1bed/1bath/407sqft home features: laminate floors, an efficient floor plan, well-sized kitchen w/stainless apps, contemporary styling throughout & a generous covered balcony; perfect for BBQs. The bedroom area can accommodate queen size bed. Bonus: locker & parking. 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 Sold: 208 9329 University Cr., Burnaby, Burnaby North, SFU


Incredibly private and spacious 2 bedroom apartment that overlooks the greenbelt! Welcome home to Harmony, a unique complex of homes nestled between greenery at the top of SFU. Perfectly positioned close to shops, cafes, walking trails and the SFU campus. If you've been dreaming of that condo lifestyle but don't want to compromise location, privacy or square footage this home is for you. Move in ready, meticulously kept and one of the best layouts available. Call today for your private tour of this incredible home.


Listing offered by: Engel & Volkers Vancouver

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Home sales drop in April as mortgage rates shoot higher


Statistics  released today by the Canadian Real Estate Association (CREA) show national home sales were down in April 2022.

Highlights:

  • National home sales dropped by 12.6% on a month-over-month basis in April.
  • Actual (not seasonally adjusted) monthly activity came in 25.7% below the monthly record set in 2021.
  • The number of newly listed properties was down 2.2% month-over-month.
  • The MLS® Home Price Index (HPI) edged down 0.6% month-over-month but was still up 23.8% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 7.4% year-over-year gain in April.

Home sales recorded over Canadian MLS® Systems dropped by 12.6% between March and April 2022. The decline placed monthly activity at the lowest level since the summer of 2020.


While the national decline was led by the Greater Toronto Area (GTA) simply because of its size, sales were down in 80% of local markets, with most other large markets posting double-digit month-over-month declines in April. The exceptions were Victoria, Montreal and Halifax-Dartmouth where sales edged up slightly.


The actual (not seasonally adjusted) number of transactions in April 2022 came in 25.7% below the record for that month set last year. That said, as has been the case since last summer, it was still the third-highest April sales figure ever behind 2021 and 2016.


“Following a record-breaking couple of years, housing markets in many parts of Canada have cooled off pretty sharply over the last two months, in line with a jump in interest rates and buyer fatigue,” said Jill Oudil, Chair of CREA. “For buyers, this slowdown could mean more time to consider options in the market. For sellers, it could necessitate a return to more traditional marketing strategies. Of course, there are significant regional differences, so your best bet is to contact your local REALTOR®. They have the information, guidance & negotiation skills to help you navigate this rapidly-changing market as it evolves,” continued Oudil.


“After 12 years of ‘higher interest rates are just around the corner’ here they are,” said Shaun Cathcart, CREA’s Senior Economist. “But it’s less about what the Bank of Canada has done so far. It’s about a pretty steep pace of continued tightening that markets expect to play out over the balance of the year, because that is already being factored into fixed mortgage rates. Of course, those have, for that very reason, been on the rise since the beginning of 2021, so why the big market reaction only now? It’s likely because typical discounted 5-year fixed rates have, in the space of a month, gone from the low 3% range to the low 4% range. The stress test is the higher of 5.25% or the contract rate plus 2%. For fixed borrowers, the stress test has just moved from 5.25% to the low 6% range – close to a 1% increase in a month! It won’t take much more movement by the Bank of Canada for this to start to affect the variable space as well.”


The number of newly listed homes edged back by 2.2% on a month-over-month basis in April. The small monthly decline was the result of a fairly even split between markets where listings rose and those where they fell. Notable declines were seen in the Lower Mainland and Calgary while listings jumped higher in Victoria and Edmonton.


With sales falling by quite a bit more than new listings in April, the sales-to-new listings ratio eased back to 66.5% — its lowest level since June 2020. This reading is right on the border between what would constitute a seller’s and a balanced market. The long-term average for the national sales-to-new listings ratio is 55.2%.


A little more than half of local markets were balanced markets based on the sales-to-new listings ratio being between one standard deviation above or below the long-term average in April 2022. A little less than half were in seller’s market territory.


There were 2.2 months of inventory on a national basis at the end of April 2022, still historically very low but up from slightly lower readings in the previous eight months. The long-term average for this measure is a little over 5 months.


The Aggregate Composite MLS® Home Price Index (HPI) edged down 0.6% on a month-over-month basis in April 2022 – the first month-over-month decline since April 2020. Regionally, most of the monthly declines were seen in markets in Ontario, although many Ontario markets were also up, while some others were flat. Prices climbed modestly across the Prairies in April, while price growth remained robust in Eastern Canada.



The non-seasonally adjusted Aggregate Composite MLS® HPI was still up by 23.8% on a year-over-year basis in April, although this was a marked slowdown from the near30% record increase logged just two months earlier.


The actual (not seasonally adjusted) national average home price was a little over $746,000 in April 2022, up 7.4% from the same month last year. The national average price is 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 the calculation in April 2022 cuts $138,000 from the national average price.


Provided by: CREA


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Just Listed: 301 9025 Highland Crt., Burnaby, Burnaby North, SFU

Excellent Condition

Jr. 1 Bed, 1 Bath, 407sqft

Priced at $388,800


Click here for more...


Investor, student and first-time buyer alert! Excellent condition, nothing to do but move in. Located in Highland House, a rental friendly building, this Jr.1bed/1bath/407sqft home features: laminate floors, an efficient floor plan, well-sized kitchen w/stainless apps, contemporary styling throughout & a generous covered balcony; perfect for BBQs. The bedroom area can accommodate queen size bed. Bonus: locker & parking. 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: 209 7377 14th Ave., Burnaby, Edmonds BE

Excellent Condition

Move-In Ready

1 Bed, 1 Bath, 615sqft

Priced at $558,800


Click here for more...


Bright West facing with a location to beat! This 1 bed, 1 bath, 615sqft home located in the Vibe, a 9 year young contemporary styled building of Edmonds, Burnaby East will not disappoint. Features: an open plan, laminate flooring, spacious kitchen with stainless appliances, granite counters, tiled back splash, convenient breakfast bar, large covered balcony & laundry closet with extra storage. The well size carpeted bedroom offers good closet space. All this and: rental & pet friendly, 2 parking spots, locker, gym and designed with wheelchair/accessibility in mind. Close to: transit, shopping, recreation & all sorts of amenities. Act Now. Call for showing details.

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Just Sold: 415 9339 University Cr., Burnaby, Burnaby North, SFU


Penthouse Home

Move-In Ready

2 Bed, 2 Bath, 1001sqft

Priced at $598,800


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Stunning top floor corner home, with soaring over height ceilings & updates throughout. Your search ends here! This 2bed/2bath/1001sqft home, in Harmony of the Highlands, a rental & pet friendly building is located in SFU, UniverCity; Vancouver Premier lifestyle neighborhood. Features: welcoming foyer, quality flooring, excellent room separation, kitchen w/plenty of cupboard & counter space, updated SS apps, 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. Bonus: 1 parking & locker. Close to: transit, shopping, nature, indoor/outdoor rec. & a host of UniverCity resident only perks. Act Now! Call for showings.

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Metro Vancouver home sales return to more traditional levels in  April


Home buyer demand in Metro Vancouver* returned to more historically typical levels in April.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,232 in April 2022, a 34.1 per cent decrease from the 4,908 sales recorded in April 2021, and a 25.6 per cent decrease from the 4,344 homes sold in March 2022.


Last month’s sales were 1.5 per cent above the 10-year April sales average.


“So far this spring, we’ve seen home sales ease down from the record-breaking pace of the last year,” Daniel John, REBGV Chair said. “While a small sample size, the return to a more traditional pace of home sales that we’ve experienced over the last two months provides hopeful home buyers more time to make decisions, secure financing and perform other due diligence such as home inspections.”


There were 6,107 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2022. This represents a 23.1 per cent decrease compared to the 7,938 homes listed in April 2021 and an 8.5 per cent decrease compared to March 2022 when 6,673 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,796, a 14.1 per cent decrease compared to April 2021 (10,245) and a 15.3 per cent increase compared to March 2022 (7,628).


“With interest rates climbing and the total inventory of homes for sale inching higher, it’s important to work with your local Realtor to understand how these factors could affect your home buying or selling situation,” John said.


For all property types, the sales-to-active listings ratio for April 2022 is 36.7 per cent. By property type, the ratio is 25.3 per cent for detached homes, 47.1 per cent for townhomes, and 45 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 MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,374,500. This represents an 18.9 per cent increase over April 2021 and a one per cent increase compared to March 2022.


Sales of detached homes in April 2022 reached 962, a 41.9 per cent decrease from the 1,655 detached sales recorded in April 2021. The benchmark price for a detached home is $2,139,200. This represents a 20.8 per cent increase from April 2021 and a one per cent increase compared to March 2022.


Sales of apartment homes reached 1,692 in April 2022, a 26.1 per cent decrease compared to the 2,289 sales in April 2021. The benchmark price of an apartment home is $844,700. This represents a 16 per cent increase from April 2021 and a 1.1 per cent increase compared to March 2022.

Attached home sales in April 2022 totalled 578, a 40 per cent decrease compar

ed to the 964 sales in April 2021. The benchmark price of an attached home is $1,150,500. This represents a 25 per cent increase from April 2021 and a 1.1 per cent increase compared to March 2022.


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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.