Just Listed - 304 2356 Welcher Avenue, Port Coquitlam, Central Port Coquitlam

Central Location

Open & Spacious Layout

Large Balcony

Priced at $498,800

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Fantastic central location. 3 years young. Excellent condition. Perfect for investors, first time buyers and everyone in-between. Your search ends here. Welcome to this bright, 1 bed, 1 bath, 533sqft home located in Mackenzie Park of Central Port Coquitlam. Features: over height ceilings, laminate floors, stainless appls w/gas stove, stone counters, excellent cupboard & counter space, spacious living area, room for dinning room table, in-suite laundry & large balcony. The spacious primary bedroom has well-sized closet space. Bonus: balance of 2-5-10 warranty, 1 parking & locker, pet and rental friendly. Close to: shopping, transit, parks, restaurants, easy access to Lougheed Hwy & Hwy 1 and a short walk to new 205Ksqft recreation centre. Call for your private showing.


Open House & New Price - 202 9877 University Crescent, Burnaby, SFU, UniverCity

Open house: Sunday, June 23rd from 2-4pm.

Large Outdoor Space

Parking & Locker

Priced at $568,800

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Looking for outdoor space? Look no further, your search ends here. Enjoy the 277sqft semi-private, partially covered patio; perfect for gardeners & pet owners alike. This 2bed/1bath/756sqft home, in the Veritas complex, will not disappoint. Features: an abundance of natural light, upgraded flooring, over-height ceilings, open concept plan, kitchen w/plenty of cupboard & counter space, breakfast bar & SS apps. The spacious primary bed has walk-in closet & cheater ensuite. Benefit from a well sized 2nd bed. Bonus: 1 parking & huge full height 6*13 locker. Close to all amenities: transit, shopping, indoor/outdoor recreation and a host of perks available only to UniverCity residents. Do not miss your chance to enjoy living in this great lifestyle neighborhood! Act Now! Open house Sunday, June 23rd from 2-4pm.


Open House & New Price - 1928 Dawes Hill Road, Coquitlam, Capehorn

Brand New Home

7 Bed, 8 bath, 5,417sqft

Priced at $2,888,800

Open house: Saturday, June 22nd from 2-4pm & Sunday, June 23rd from 1-3pm.

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Welcome to this custom-built home in the desirable Capehorn neighborhood of Coquitlam. This 5,417sqft/7bed/8bath/3lvl home on an extensively landscaped 9622sqft lot w/southern city views will not disappoint. Enjoy quality finishing & craftsmanship, an open layout & luxury features. Main: engineered oak & tile floors, formal dining & living rms, large kitchen w/top line appls, spice kitchen, family rm, bed w/4pc ensuite, large mud rm & a large covered deck. Up: spacious primary w/walk-in, 5pc & private deck & 3 well sized rms each w/ensuites. Down; rec rm, games rm, bar area, 4pc bath & a massive crawl space. The bright, partially above-ground 2bed/1bath suite is a perfect mortgage helper. Bonus: radiant heat/AC/HRV/Smart boiler, large dble car garage, tons of parking & lane access. Act Now! Open house Saturday, June 22nd from 2-4pm & Sunday, June 23rd from 1-3pm.


Markets Remain in Balance Heading into Summer

Vancouver, BC – June 13, 2024. The British Columbia Real Estate Association (BCREA) reports that 8,075 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in May 2024, a 11.6 per cent decrease from May 2023. The average MLS® residential price in BC in May 2024 was down 1.5 per cent at $1 million, compared to an average price of $1.02 million in May 2023. The total sales dollar volume was $8.1 billion, a 13 per cent decline from the same time the previous year.

"Markets could not match the surge in home sales that occurred this time last year," said BCREA Chief Economist Brendon Ogmundson. "However, we are starting to see a pickup in sales activity to more normal levels, which, combined with rising inventory, is helping to keep markets in balanced territory."

Year-to-date, BC residential sales dollar volume was up 2.7 per cent to $31.5 billion, compared with the same period in 2023. Residential unit sales were flat year-over-year at 31,573 units, while the average MLS® residential price was up 2.6 per cent to $997,899.

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Provided by: BCREA


“I cannot recommend Hafez highly enough as a realtor. He was patient, incredibly knowledgeable about the market, and always ready to assist. Hafez went above and beyond to help me navigate both the purchase and sale of my property. His availability and dedication made the entire process smooth and stress-free. Whether you are new to the real estate world or a seasoned veteran, Hafez is the person you want by your side. His expertise and commitment to his clients are unmatched.” 



JUST SOLD - 108 9877 University Cr., Burnaby, SFU, UniverCity
Fully Furnished
Large, Private Patio
1 Bed + Den, 1 Bath, 649sqft
Priced at $498,800

Enjoy the peace & tranquility this area has to offer. Welcome to UniverCity at SFU, Vancouver's premier lifestyle neighborhood. Looking for outdoor space? What about a place that is fully-furnished? This 1bed+den/1bath/649sqft home will not disappoint. Enjoy the large partially covered private patio with walk-up access. Features: quality flooring, open layout, SS appls, plenty of cupboard & counter space, excellent natural light & in-suite laundry. The primary has pass-through closet to the 4pc cheater ensuite. The den is well sized; perfect for a home-office. Bonus: 1 parking & locker. Close to: transit, shopping, indoor/outdoor recreation & a host of perks available only to UniverCity residences. Act Now!

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Bank of Canada reduces policy rate by 25 basis points

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.

The global economy grew by about 3% in the first quarter of 2024, broadly in line with the Bank’s April Monetary Policy Report (MPR) projection. In the United States, the economy expanded more slowly than was expected, as weakness in exports and inventories weighed on activity. Growth in private domestic demand remained strong but eased. In the euro area, activity picked up in the first quarter of 2024. China’s economy was also stronger in the first quarter, buoyed by exports and industrial production, although domestic demand remained weak. Inflation in most advanced economies continues to ease, although progress towards price stability is bumpy and is proceeding at different speeds across regions. Oil prices have averaged close to the MPR assumptions, and financial conditions are little changed since April.

In Canada, economic growth resumed in the first quarter of 2024 after stalling in the second half of last year. At 1.7%, first-quarter GDP growth was slower than forecast in the MPR. Weaker inventory investment dampened activity. Consumption growth was solid at about 3%, and business investment and housing activity also increased. Labour market data show businesses continue to hire, although employment has been growing at a slower pace than the working-age population. Wage pressures remain but look to be moderating gradually. Overall, recent data suggest the economy is still operating in excess supply.

CPI inflation eased further in April, to 2.7%. The Bank’s preferred measures of core inflation also slowed and three-month measures suggest continued downward momentum. Indicators of the breadth of price increases across components of the CPI have moved down further and are near their historical average. However, shelter price inflation remains high.

With continued evidence that underlying inflation is easing, Governing Council agreed that monetary policy no longer needs to be as restrictive and reduced the policy interest rate by 25 basis points. Recent data has increased our confidence that inflation will continue to move towards the 2% target. Nonetheless, risks to the inflation outlook remain. Governing Council is closely watching the evolution of core inflation and remains particularly focused on the balance between demand and supply in the economy, inflation expectations, wage growth, and corporate pricing behaviour. The Bank remains resolute in its commitment to restoring price stability for Canadians.

Information note

The next scheduled date for announcing the overnight rate target is July 24, 2024. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the MPR at the same time.


Metro Vancouver home sales down in May while  inventory continues to increase

VANCOUVER, BC – June 4, 2024 – The number of transactions on the Multiple Listing Service® (MLS®) declined in May compared to what is typical for this time of year in Metro Vancouver1 . This shift has allowed the inventory of homes available for sale to continue to accumulate with over 13,000 homes now actively listed on the MLS® in the region.

The Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 2,733 in May 2024, a 19.9 per cent decrease from the 3,411 sales recorded in May 2023. Last month’s sales total was also down 19.6 per cent from the 10-year seasonal average for May (3,398).

“The surprise in the May data is that sales have come in softer than what we’d typically expect to see at this point in the year, while the number of newly listed homes for sale is carrying some of the momentum seen in the April data,” Andrew Lis, GVR’s director of economics and data analytics said. “It’s a natural inclination to chalk these trends up to one factor or another, but what we’re seeing is a culmination of factors influencing buyer and seller decisions in the market right now. It’s everything from higher borrowing costs, to worries about the economy, to policy interventions imposed by various levels of government.”

There were 6,374 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in May 2024. This represents a 12.6 per cent increase compared to the 5,661 properties listed in May 2023 and a seven per cent increase compared to the 10-year seasonal average (5,958).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,600, a 46.3 per cent increase compared to May 2023 (9,293). This total is also up 19.9 per cent above the 10-year seasonal average (11,344).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for May 2024 is 20.8 per cent. By property type, the ratio is 16.8 per cent for detached homes, 25.1 per cent for attached, and 22.5 per cent for apartment properties.

Analysis of the historical data suggests 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.

“With market trends now tilting back toward more balanced conditions, as the number of new listings outpaces the number of sales, we should expect to see slower price growth over the coming months,” Lis said. “Up until recently, prices were climbing modestly across all market segments. But with rising inventory levels and softening demand, buyers who’ve been waiting for an opportunity might have more luck this summer, even if borrowing costs remain elevated.”

The MLS® Home Price Index (HPI) composite benchmark price3 for all residential properties in Metro Vancouver is currently $1,212,000. This represents a 2.3 per cent increase over May 2023 and a 0.5 per cent increase compared to April 2024.

Sales of detached homes in May 2024 reached 846, an 18.9 per cent decrease from the 1,043 detached sales recorded in May 2023. The benchmark price for a detached home is $2,062,600. This represents a 5.9 per cent increase from May 2023 and a 1.3 per cent increase compared to April 2024.

Sales of apartment homes reached 1,338 in May 2024, a 22.7 per cent decrease compared to the 1,730 sales in May 2023. The benchmark price of an apartment home is $776,200. This represents a 2.2 per cent increase from May 2023 and a 0.3 per cent decrease compared to April 2024.

Attached home sales in May 2024 totalled 523, a 14 per cent decrease compared to the 608 sales in May 2023. The benchmark price of a townhouse is $1,145,500. This represents a 5.2 per cent increase from May 2023 and a 0.9 per cent increase compared to April 2024.

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Provided by: Greater Vancouver REALTORS®

Editor’s Note:

1. Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

2. On February 12, 2024, The Real Estate Board of Greater Vancouver changed its organizational name to the Greater Vancouver REALTORS®.

3. The national MLS® Home Price Index (MLS® HPI) operations group underwent an annual review of the model in May in-line with statistical best practices. The attributes and neighbourhoods within the model were updated based on sales data to more accurately reflect current market conditions. To ensure the MLS® HPI coverage is consistent and comparable, historical aggregate and composite data has been recalculated.

Greater Vancouver REALTORS® is an association representing more than 15,000 REALTORS® and their companies. The association provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit

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.