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I just finished uploading this Condo for sale, 101 5311 CEDARBRIDGE WAY, Brighouse, Richmond, BC

1 BED +1 DEN +1 LARGE storage/study room within the unit (that could be used as a small 2nd den) RIVA 2 is located just 10 minutes walk to Lansdowne Shopping center, sky train, T&T supermarket, restaurants, Olympic Oval and only a 15 minute drive to the airport This is a ground floor unit backing onto a quiet courtyard with a very large patio space perfect for pets, BBQ's and summer gatherings. Stainless steel appliances, gas range, quartz counter tops and a large kitchen island gives the kitchen and living room a nice spacious feel and open concept Building's design consultant was Feng Shui master Sherman Tai Condo also comes with a separate storage locker too Building amenities include indoor pool, fitness center/gym, sauna/steam room, playground and more. OPEN HOUSE SUNDAY MAY 26 2-4PM

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Reduced Demand and Increased Supply Remain the Trend Across Metro Vancouer's Housing Market

 

VANCOUVER, BC – April 2, 2019 – The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,829 in April 2019, a 29.1 per cent decrease from the 2,579 sales recorded in April 2018, and a 5.9 per cent increase from the 1,727 homes sold in March 2019.

Last month’s sales were 43.1 per cent below the 10-year April sales average.

“Government policy continues to hinder home sale activity. The federal government’s mortgage stress test has reduced buyers’ purchasing power by about 20 per cent, which is causing people at the entry-level side of the market to struggle to secure financing,” Ashley Smith, REBGV president said. “Suppressing housing activity through government policy not only reduces home sales, it harms the job market, economic growth and creates pent-up demand.”

There were 5,742 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2019. This represents a 1.3 per cent decrease compared to the 5,820 homes listed in April 2018 and a 16 per cent increase compared to March 2019 when 4,949 homes were listed.

The total number of homes currently listed for sale on the MLS® in Metro Vancouver is 14,357, a 46.2 per cent increase compared to April 2018 (9,822) and a 12.4 per cent increase compared to March 2019 (12,774).

“There are more homes for sale in our market today than we’ve seen since October 2014. This trend is more about reduced demand than increased supply,” Smith said. “The number of new listings coming on the market each month are consistent with our long-term averages. It’s the reduced sales activity that’s allowing listings to accumulate.”

The overall sales-to-active listings ratio for April 2019 is 12.7 per cent. By property type, the ratio is 9.4 per cent for detached homes, 15.4 per cent for townhomes, and 15.3 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 $1,008,400. This represents an 8.5 per cent decrease over April 2018, and a 0.3 per cent decrease compared to March 2019.

Detached home sales totalled 586 in April 2019, a 27.4 per cent decrease from the 807 detached sales in April 2018. The benchmark price for a detached home is $1,425,200. This represents an 11.1 per cent decrease from April 2018, a 0.8 per cent decrease compared to March 2019.

Apartment home sales totalled 885 in April 2019, a 32.3 per cent decrease compared to the 1,308 sales in April 2018. The benchmark price of an apartment is $656,900 in the region. This represents a 6.9 per cent decrease from April 2018 and is unchanged from March 2019.

Attached home sales totalled 358 in April 2019, a 22.8 per cent decrease compared to the 464 sales in April 2018. The benchmark price of an attached home is $783,300. This represents a 7.5 per cent decrease from April 2018 and is unchanged from March 2019.

 

Click here to download the complete stats package.

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We are proud to announce that this May 11th, 2:00 PM to 4:00 PM we will be hosting an Open House at 204 7831 NO. 1 ROAD in the Quilchena RI neighborhood, Richmond. This is an opportunity to visit this excellent Condo for sale in beautiful Quilchena RI.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Quilchena RI Condo for sale.

As always please do not hesitate to give me a call at 604.644.1044 if I can answer any questions before the open house, or if you would like to book a private showing.

Alisa Sakamoto
REALTOR® RE/MAX WESTCOAST

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I just finished uploading this Condo for sale, 425 8880 JONES ROAD, Brighouse South, Richmond, BC

REDONDA – quality built by Adera. Fabulous 2 bdrm, 2 FULL bathroom PENTHOUSE suite overlooking the inner quiet courtyard. Featuring newer appliances (including washer/dryer), granite counters, subway tile backsplash, bathroom upgraded with marble counters, vanity & tiles. Spacious & bright with lots of natural light and floor to ceiling windows. Large south facing patio – perfect for entertaining & BBQing with friends! Enjoy your cozy gas fireplace (included in the strata fee). 2 PARKING SPOTS (tandem) + storage locker. The building has been updated with a new roof (2009) and some upgrades done on the balconies and exterior. Terrific location just steps to Richmond centre mall, shopping, lots of restaurants, parks, schools (Currie & Palmer) transit & Canada line. OPEN HOUSE May 18 2-4pm

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I just finished uploading this Townhouse for sale, 44 5551 ADMIRAL WAY, Neilsen Grove, Ladner, BC

This new executive townhome in Polygon's Beaufort Landing, then newest collection of homes in the established masterplan community of Hampton Cove, is steps from a marina, golf course, and a resort-style clubhouse. This 1,370 sq. ft. 3 bedroom home features overheight main floor ceilings, laminate wood flooring, and walk out patio off the kitchen. The gourmet kitchen boasts custom wood cabinetry, integrated appliances and engineered stone countertops. The master ensuite features double sinks, a generous soaker tub+ shower. Visit our sales office+ display homes at 5551 Admiral Way, open noon- 6pm daily (except Fridays)

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