The stats from the Real Estate Board of Greater Vancouver have been released for August. Please take a read below and let me know if you have any questions!

Metro Vancouver Housing Market Sees Summer Uptick in Sales

VANCOUVER, BC – September 4, 2019 – Home buyer activity increased to more typical levels in Metro Vancouver throughout the summer months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,231 in August 2019, a 15.7 per cent increase from the 1,929 sales recorded in August 2018, and a 12.7 per cent decrease from the 2,557 homes sold in July 2019.

Last month’s sales were 9.2 per cent below the 10-year August sales average.

“Home sales returned to more historically normal levels in July and August compared to what we saw in the first six months of the year,” said REBGV President Ashley Smith. 

There were 3,747 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2019. This represents a 3.5 per cent decrease compared to the 3,881 homes listed in August 2018 and an 18.8 per cent decrease compared to July 2019 when 4,613 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,396, a 13.3 per cent increase compared to August 2018 (11,824) and a 5.9 per cent decrease compared to July 2019 (14,240).

For all property types, the sales-to-active listings ratio for August 2019 is 16.7 per cent. By property type, the ratio is 12 per cent for detached homes, 18.4 per cent for townhomes, and 21.2 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.

“With more demand from home buyers, the supply of homes listed for sale isn’t accumulating like earlier in the year. These changes are creating more balanced market conditions,” Smith said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $993,300. This represents an 8.3 per cent decrease over August 2018 and a 0.2 per cent decrease compared to July 2019

Sales of detached homes in August 2019 reached 706, a 24.5 per cent increase from the 567 detached sales recorded in August 2018. The benchmark price for detached homes is $1,406,700. This represents a 9.8 per cent decrease from August 2018 and a 0.7 per cent decrease compared to July 2019.

Sales of apartment homes reached 1,116 in August 2019, an 8.9 per cent increase compared to the 1,025 sales in August 2018. The benchmark price of an apartment property is $771,000. This represents a 7.4 per cent decrease from August 2018 and a 0.1 per cent increase compared to July 2019.

Attached home sales in August 2019 totalled 409, a 21.4 per cent increase compared to the 337 sales in August 2018. The benchmark price of an attached unit is $654,000. This represents a 7.8 per cent decrease from August 2018, a 0.2 per cent increase compared to July 2019.

Click here to download the complete stats package.

We are proud to announce that this Sep 15th, 2:00 PM to 4:00 PM we will be hosting an Open House at 202 15368 17A AVENUE in the King George Corridor neighborhood, South Surrey White Rock. This is an opportunity to visit this excellent Condo for sale in beautiful King George Corridor.

Please come with any questions you may have. In the meantime you can take a virtual tour of this King George Corridor 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 Townhouse for sale, 21 6871 FRANCIS ROAD, Woodwards, Richmond, BC

TIMBERWOOD VILLAGE - this rare & spacious 3 bdrm, 2.5 bath townhouse is FULLY DETACHED. This complex has NEW Hardi plank siding, double glazed windows, doors, roof & cozy gas f/p (seller paid $86K!) Private south east exposed yard & large deck off the kitchen. All 3 baths & kitchen feature granite counters. Large Master w/ huge step in shower & heated floors in then ensuite! Nice sundeck off 2nd bdrm to soak in the afternoon sun. Massive walk in storage room off the 3rd bdrm (that could be used as a den/kids playroom). Large carport with TONS of guest parking! Conveniently located near groceries, mall, transit, restaurants, schools (Steveston-London & Blundell) & much more! Lovely outdoor pool, clubhouse & lots of green space make this complex popular with young families. O/H Aug 24 2-4PM

I just finished uploading this Condo for sale, 53 6833 LIVINGSTONE PLACE, Granville, Richmond, BC

GRANVILLE PARK – rare one of a kind 3 bdrm PLUS den, 2 bath townhouse all on ONE LEVEL. Over 1300 sf of open concept living! Entertaining is a breeze in this home with bar top seating at the kitchen. Featuring upgraded kitchen backsplash, lighting, flooring & cozy gas fireplace (included in the strata fee). Excellent for a growing family! Good bdrm separation w/ a large Master featuring a nice walk-in closet. Huge balcony to enjoy off the 2nd bdrm! Private single car garage w/ extra storage. Conveniently located just steps to Minoru Park, new aquatic centre, shopping, Richmond Centre Mall, transit, Canada line, library, schools (Richmond & Blundell), restaurants & much more! Well managed complex w/ low strata fees. This is a wonderful place to call home! OPEN HOUSE AUG 17&18 2-4pm

The stats from the Real Estate Board of Greater Vancouver have been released for July!

Home Sales Increase in July

VANCOUVER, BC – August 2, 2019 – Home buyer demand picked up across Metro Vancouver last month, making July, a traditionally quieter month in real estate, the second highest selling month so far this year.

Click here to download the complete stats package.

I just finished uploading this Townhouse for sale, 24 11491 7TH AVENUE, Steveston Village, Richmond, BC

Popular MARINER'S VILLAGE in the heart of Steveston. Completely renovated in 2016 with over $75,000 of improvements. 3 bright bedrooms & 1 and a half bath townhome with private fenced yard and patio. Great family oriented complex. Fantastic indoor swimming pool at the club house and beautifully well kept green space. Rarely available units. Don't miss this wonderful opportunity!

I just finished uploading this Townhouse for sale, 7 4991 NO 5 ROAD, East Cambie, Richmond, BC

Now or never, this three bedroom plus den, three bathroom corner unit with 1,464 square feet of living space won't last long! This beautiful townhome is situated in Wembley's master-planned community. Located in a convenient central Richmond location. Built for a modern mindset, Wembley offers unbeatable spacious, family-friendly floor plans, sleek interior design, geothermal heating and cooling for year-round comfort, and Club Wembley, the community's amenity centre. Wembley is located within a kilometer of a high school, elementary school, shopping and some of Richmond's best parks. Showhome located at 4991 No. 5 Road. OPEN MONDAY TO THURSDAY FROM 1:00-4:00PM, AND SATURDAY & SUNDAY FROM 12:00-5:00PM!

I just finished uploading this Townhouse for sale, 50 4991 NO. 5 ROAD, East Cambie, Richmond, BC

This two bedroom + den, three bathroom townhome with 1,206 square feet of living space and a West facing backyard is perfect for growing families! Situated in Wembley's master-planned community. Located in a convenient central Richmond location. Built for a modern mindset, Wembley offers unbeatable spacious, family-friendly floor plans, sleek interior design, geothermal heating and cooling for year-round comfort, and Club Wembley, the community's amenity centre. Wembley is located within a kilometer of a high school, elementary school, shopping and some of Richmond's best parks. Showhome located at 4991 No. 5 Road. OPEN MONDAY TO THURSDAY FROM 1:00-4:00PM, AND SATURDAY & SUNDAY FROM 12:00-5:00PM!

I just finished uploading this Condo for sale, 2303 489 INTERURBAN WAY, Marpole, Vancouver West, BC

Marine Gate Way...The best one bedroom layout. Surprisingly quiet this south west facing corner home is bright & spacious with sweeping views of Ocean, Fraser River, mountains, city & Vancouver Island. Galley kitchen with granite counter tops and Engineered hardwood flooring & carpeted bedroom. 1 Parking & 1 storage locker included. Amazingly conveniently just an elevator ride down to the Skytrain/bus, T&T, Shopper's Drug Mart, Winner's, Cineplex Oden, Starbucks, restaurants & more.

We are proud to announce that this Jun 29th, 12:00 PM to 2:00 PM we will be hosting an Open House at 408 215 MOWAT STREET in the Uptown NW neighborhood, New Westminster. This is an opportunity to visit this excellent Condo for sale in beautiful Uptown NW.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Uptown NW 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 sold this Condo at #155 6168 LONDON ROAD, Steveston South, Richmond, BC Steveston South.

View this recently sold Condo or see all my home sales

VANCOUVER, BC – June 4, 2019 – Monthly Metro Vancouver home sales eclipsed 2,000 for the first time this year in May, although home buyer demand remains below historical averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,638 in May 2019, a 6.9 per cent decrease from the 2,833 sales recorded in May 2018, and a 44.2 per cent increase from the 1,829 homes sold in April 2019.

Last month’s sales were 22.9 per cent below the 10-year May sales average and was the lowest total for the month since 2000.

“High home prices and mortgage qualification issues caused by the federal government’s B20 stress test remain significant factors behind the reduced demand that the market is experiencing today,” Ashley Smith, REBGV president said.

There were 5,861 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver last month. This represents an 8.1 per cent decrease compared to the 6,375 homes listed in May 2018 and a 2.1 per cent increase compared to April 2019 when 5,742 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 14,685, a 30 per cent increase compared to May 2018 (11,292) and a 2.3 per cent increase compared to April 2019 (14,357). This is the highest number of homes listed for sale since September 2014 (14,832).

“Whether you’re a buyer looking to make an offer or a seller looking to list your home, getting your pricing right is the key in today’s market,” Smith said. “To be competitive, it’s important to work with your local REALTOR® to assess and understand the latest trends in your neighbourhood and property type of choice.”

For all property types, the sales-to-active listings ratio for May 2019 is 18 per cent. By property type, the ratio is 14.2 per cent for detached homes, 20 per cent for townhomes, and 21.2 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 homes in Metro Vancouver is currently $1,006,400. This represents an 8.9 per cent decrease over May 2018, a 3.4 per cent decrease over the past six months, and a 0.4 per cent decrease compared to April 2019.

Sales of detached homes in May 2019 reached 913, a 1.4 per cent decrease from the 926 detached sales recorded in May 2018. The benchmark price for a detached home in the region is $1,421,900. This represents an 11.5 per cent decrease from May 2018, a 5.4 per cent decrease over the past six months, and a 0.5 per cent decrease compared to April 2019.

Sales of apartment homes reached 1,246 in May 2019, a 12.9 per cent decrease compared to the 1,431 sales in May 2018. The benchmark price of an apartment property is $664,200. This represents a 7.3 per cent decrease from May 2018, a two per cent decrease over the past six months, and a 0.5 per cent decrease compared to April 2019.

Attached home sales in May 2019 totalled 479, a 0.6 per cent increase compared to the 476 sales in May 2018. The benchmark price of an attached unit is $779,400. This represents a 7.6 per cent decrease from May 2018, a 3.5 per cent decrease over the past six months, and a 0.6 per cent increase compared to April 2019.

Click here to download the complete stats package.