I just sold this Condo at #301 5692 KINGS ROAD, University VW, Vancouver West, BC University VW.

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The stats from the Real Estate Board of Greater Vancouver have been released for August. First-time home buyers have led a surge this summer in demand in our condo and townhome markets. Homes priced between $350,000 and $750,000 have been subject to intense competition and multiple offers across the region. Detached homes have entered a balanced market. This means there’s less upward pressure on prices and that buyers have more selection to choose from and more time to make their decisions.

​Please take a read below and let me know if you have any questions, I look forward to helping you!

   
 Condominium Sales Drive August Activity 

I just sold this Condo at #511 10033 RIVER DRIVE, Bridgeport RI, Richmond, BC Bridgeport RI.

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I just sold this House at 11411 WILLIAMS ROAD, Ironwood, Richmond, BC Ironwood.

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I just sold this House at 7820 Broadmoor Boulevard, Broadmoor, Richmond, BC Broadmoor.

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I just sold this Condo at #1904 128 CORDOVA STREET, Downtown VW, Vancouver West, BC Downtown VW.

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I just sold this Townhouse at #8 11291 7TH AVENUE, Steveston Village, Richmond, BC Steveston Village.

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    Metro Vancouver Sees Fewer Home Sales and More Listings in July

VANCOUVER, BC – August 2, 2017 – Home buyer activity returned to more typical summer levels in Metro Vancouver last month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,960 in July 2017, an 8.2 per cent decrease from the 3,226 sales recorded in July 2016, and a decrease of 24 per cent compared to June 2017 when 3,893 homes sold.

Last month’s sales were 0.7 per cent above the 10-year July sales average.

“Housing demand is inconsistent across the region right now. Pockets of the market are still receiving multiple offers and others are not. It depends on price, property type, and location,” Jill Oudil, REBGV president said. “For example, it’s taking twice as long, on average, for a detached home to sell compared to both townhomes and condominiums.”

There were 5,256 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2017. This represents a 0.3 per cent increase compared to the 5,241 homes listed in July 2016 and an 8.1 per cent decrease compared to June 2017 when 5,721 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,194, a 10.1 per cent increase compared to July 2016 (8,351) and an eight per cent increase compared to June 2017 (8,515).

“Because home sale activity decreased to more historically normal levels in July, the selection of homes for sale in the region was able to edge above 9,000 for the first time this year,” Oudil, said.

For all property types, the sales-to-active listings ratio for July 2017 is 32.2 per cent. By property type, the ratio is 16.9 per cent for detached homes, 44.9 per cent for townhomes, and 62 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark 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 $1,019,400. This represents an 8.7 per cent increase over July 2016 and a 2.1 per cent increase compared to June 2017.

Sales of detached properties in July 2017 reached 949, a decrease of 11.9 per cent from the 1,077 detached sales recorded in July 2016. The benchmark price for detached properties is $1,612,400. This represents a 1.9 per cent increase from July 2016 and a 1.5 per cent increase compared to June 2017.

Sales of apartment properties reached 1,468 in July 2017, a decrease of 8.4 per cent compared to the 1,602 sales in July 2016. The benchmark price of an apartment property is $616,600. This represents an 18.5 per cent increase from July 2016 and a 2.7 per cent increase compared to June 2017.

Attached property sales in July 2017 totalled 543, a decrease of 0.7 per cent compared to the 547 sales in July 2016. The benchmark price of an attached unit is $763,700. This represents an 11.9 per cent increase from July 2016 and a 2.4 per cent increase compared to June 2017.  

                                           Click here to download the complete stats package.

We are proud to announce that this Aug 13th, 2:00 PM to 4:00 PM we will be hosting an Open House at 5115 Cambie Street in LIVINGSTONE HOUSE in the CAMBIE neighborhood, Vancouver. This is an opportunity to visit this excellent Condo for sale in beautiful CAMBIE.

Please come with any questions you may have. In the meantime you can take a virtual tour of this CAMBIE 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

I just finished uploading this Condo for sale, 105 5115 Cambie Street, CAMBIE, Vancouver, BC

LIVINGSTONEHOUSE Intracorp's newest addition to its Westside Collection. Parkside Living on Cambie just steps to QE Park & Oakridge in the Cambie Corridor. 55 bright & spacious quality built homes with sophisticated elegance. This 1 bed & den is almost 700SF with a 180sf PRIVATE patio – townhouse feel with a 2nd entrance! Features Bosch appl package with 5 burner gas range, wood cabinetry, appl garage, stone counters & backsplash, H/W flooring, 9ft ceilings, large windows with roller shades & A/C. The spa like cheater ensuite has NuHeat marble floors & counters, Grohe faucets/fixtures & under-cabinet motion-controlled lighting. Amenities include Guest Suite & Entertainment Lounge with kitchen. 1 Parking & 1 locker. SNEAK PEEK Aug 10 6:30-8pm. Don't miss this! It won't last long

I just finished uploading this Townhouse for sale, 44 9111 NO 5 ROAD, Ironwood, Richmond, BC

KINGSWOOD DOWNES - Completely renovated in 2017, spent over $70K, this 2 level, 3 bedroom townhome features spacious rooms and storage, wood burning fireplace, a park-like setting, beautiful landscaping, quiet end unit with South East fenced backyard next to unobstructed green space with the benefit of a 50ft wide private grass side yard (common area) accessible by gate off your large deck. An extra window in dining room allowing for lots of extra natural light. Rarely available. Complex is well run, has a recreation center with an indoor pool, hot tub and sauna. Very central location with easy access to Vancouver, Ironwood shopping center, restaurants, ice rinks and theatres. You will fall in love! OPEN HOUSE Sunday, June 11th from 2-4pm.

I just sold this Townhouse at 18 3031 WILLIAMS ROAD, Seafair, Richmond, BC Seafair.

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