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.

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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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

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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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 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

BCREA 2020 Third Quarter Housing Forecast Update

The recession prompted by COVID-19 is on pace to be one of the worst on record for the BC economy. However, looking at recent data in the housing market, it would be difficult to tell there was a recession at all. While home sales initially fell to historic lows in April, sales have recently soared, more than regaining pre-pandemic levels. Consequently, the outlook for the housing market is much brighter following a stronger than expected summer.

The explanation for the counter-intuitive performance of the housing market lies in the very unusual characteristics of the COVID-19 recession. Unlike in a typical recession, many of the job losses have been felt in lower-wage, frontline service sector jobs, typically held by younger workers. Meanwhile, higher-wage sectors that tend to drive the ownership market have seen employment levels fully recover. As a result, sales activity has spiked as record-low mortgage rates unleashed a wave of pent-up demand previously sidelined by the pandemic.

Moreover, while a recession typically means a buildup of inventory as job losses and falling incomes force households to sell, social distancing measures, mortgage deferrals and sellers’ reluctance to move during the pandemic caused the supply of re-sale listings to decline through the spring.

The combination of strong home sales and an undersupplied market, along with a desire for more space on the part of buyers, has meant that many markets are now seeing sharply rising average prices despite a weak provincial economy.

While significant uncertainty remains, including the end or transition of key government supports and a concerning rise in COVID-19 cases, the unexpectedly swift rebound in the market means that BC home sales will almost certainly finish 2020 higher than 2019. We are forecasting total sales of 82,380 this year, before rising to 96,860 in 2021, as a recovering economy and low mortgage rates continue to drive demand. The average home price is forecast to rise 7.7 per cent this year and 3.7 per cent in 2021.

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Provided by: BCREA

“Copyright British Columbia Real Estate Association. Reprinted with permission.”

LOCATION, LOCATION, LOCATION Beautiful South facing end, this 3bed,3 bath has been tastefully updated and features a spacious floor plan complimented with plenty of windows and an abundance of natural light. There is a large kitchen complete with updated S.S Appliances as well as a spacious dining room for all of the family and friends gatherings. The nicely appointed lower level Living room with loft height also provides a natural gas fireplace and the perfect place to unwind. Upstairs includes 3 bedrooms including a master bedroom with loads of room along with newly updated ensuite. Up also offers 2 more functional bedrooms. Plenty of storage, parking, and outdoor spaces to enjoy. RV PARKING, Short walk to W.C express, and only steps to Restaurants, Save on and parks.

Listing Offered by: Royal LePage Brookside Realty

Excellent Central Location

Rental and Pet Friendly

Price at $474,800

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Bright, open and functional are just a few ways to describe this fantastic unit. Located in the popular Elements building in the desirable Willoughby Heights neighborhood of Langley, with a location that can't be beat. Welcome home! Features: modern finishing, over height ceilings, spacious layout, laminate floors through & newer carpets in the bedrooms, a spacious kitchen w/plenty cupboard & granite counters space & SS apps, laundry closet w/extra storage & an excellent sized balcony perfect for BBQs. The large master has pass through closets & 3 pc spa inspired ensuite while the 2nd bed is well sized. Bonus: 1 parking, locker on your floor & rental and pet friendly. Located close to shopping, recreation, transit, schools, parks and more. Act Now!

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and new listings continued to rebound in July 2020, with new listings hitting their highest level on record for the month of July, while sales posted the highest level of any month in history.

Summary:

• National home sales rose 26% on a month-over-month (m-o-m) basis in July.
• Actual (not seasonally adjusted) activity was up 30.5% year-over-year (y-o-y).
• The number of newly listed properties climbed 7.6% from June to July.
• The MLS® Home Price Index (HPI) rose 2.3% m-o-m and was up 7.4% y-o-y.
• The actual (not seasonally adjusted) national average sale price posted a 14.3% y-o-y gain.

Home sales recorded over Canadian MLS® Systems rebounded by a further 26% in July 2020, raising them to the highest monthly level ever recorded.

The British Columbia Real Estate Association (BCREA) reports that a total of 10,090 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July 2020, an increase of 26.6 per cent from July 2019. The average MLS® residential price in BC was $770,810, a 12.9 per cent increase from $682,702 recorded the previous year. Total sales dollar volume in July was $7.8 billion, a 43 per cent increase over 2019.

“The strong recovery in sales activity continued in July,” said BCREA Chief Economist Brendon Ogmundson. “Increased demand for more living space combined with an undersupplied market is producing significant upward pressure on home prices, particularly in the market for single-family homes.”

Active listings remain down significantly year-over-year, creating upward pressure on prices, though increased demand for single-family homes has somewhat skewed average prices in some markets.

Year-to-date, BC residential sales dollar volume was up 8.4 per cent to $32.5 billion, compared with the same period in 2019. Residential unit sales were down 1.4 per cent to 43,718 units, while the average MLS® residential price was up 10 per cent to $754,842.

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Provided by: BCREA