Vanessa Kuan

A Better Living In Vancouver

I have listed a new property at 1404 13685 102 AVE in Surrey.
INTRODUCING GEORGETOWN ONE! Anthem’s first tower of their newest master plan community located in the heart of Surrey City Centre. This 1 bed, 1 bath condo features a warm wood interior finishes, open-concept living space, efficient layouts to provide plenty of storage, laminate flooring, quartz countertops with full-height backsplash and modern black matte accents, integrated S/S appliances by Bosch and Blomberg, spacious balcony and expansive windows which brings you the PANORAMIC views of the City and Mountains! This building offers desirable amenities such as fully equipped GYM, yoga studio, guest suite, co-working space/study room, social lounge with kitchen/dining area, and games tables! Not to mention, its outdoor fireside lounge area, movie theatre, dog park, and many more! Absolutely PERFECT for FIRST TIME BUYERS & ANY INVESTORS. Don’t miss this opportunity to be part of Metro Vancouver’s fastest growing city. CALL TODAY!
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I have listed a new property at 1404 13685 102 AVE in Surrey.
INTRODUCING GEORGETOWN ONE! Anthem’s first tower of their newest master plan community located in the heart of Surrey City Centre. This 1 bed, 1 bath condo features a warm wood interior finishes, open-concept living space, efficient layouts to provide plenty of storage, laminate flooring, quartz countertops with full-height backsplash and modern black matte accents, integrated S/S appliances by Bosch and Blomberg, spacious balcony and expansive windows which brings you the PANORAMIC views of the City and Mountains! This building offers desirable amenities such as fully equipped GYM, yoga studio, guest suite, co-working space/study room, social lounge with kitchen/dining area, and games tables! Not to mention, its outdoor fireside lounge area, movie theatre, dog park, and many more! Absolutely PERFECT for FIRST TIME BUYERS & ANY INVESTORS. Don’t miss this opportunity to be part of Metro Vancouver’s fastest growing city. CALL TODAY!
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I have listed a new property at 19940 BRYDON CRES in Langley.
Selling BELOW market value! This spacious 2 bed 2 bath+Den Garden Corner Suite features high quality stainless steel appliances, quartz countertops, powerful induction range, and a very functional open layout. 8'10" high ceiling, A/C, double paned windows, and 145 sq.ft large wrap-around covered patio for your exclusive enjoyment. 2 Parkings and 1 Locker included. Moreover, enjoy the remainder of the 2-5-10 Home Warranty. ABSOLUTE PRIME LOCATION! Minutes away from the future Skytrain, Willowbrook Mall, T&T, Costco, Superstore, KPU, and much much more!
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I have listed a new property at 112 19940 BRYDON CRES in Langley.
INVESTOR ALERT! Cash Flow positive! This spacious 2 bed 2 bath+Den Corner Unit features high quality stainless steel appliances, quartz countertops, powerful induction range, and a very functional open layout. 8'10" high ceiling, A/C, double paned windows, and 145 sqft large wrap-around covered patio for your exclusive enjoyment. 2 Parkings and 1 Locker included. Moreover, enjoy the remainder of the 2-5-10 Home Warranty. ABSOLUTE PRIME LOCATION! Minutes away from the future Skytrain, Willowbrook Mall, T&T, Costco, Superstore, KPU, and much much more!
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I have sold a property at 206 9200 FERNDALE RD in Richmond.
LOOK NO FURTHER! This gorgeous 2 bed 2 bath (plus flex/den) quiet unit is the perfect home for you! Featuring spacious, open floor-plan, functional kitchen with gas stovetops, stainless steel appliances and Granite countertops, and a large covered patio space for your exclusive enjoyment! NEW high quality hood fan, brand NEW carpet, NEW light fixtures, and NEW clothe washer & Dryer were added to this lovely home at the end of 2020. Moreover, Absolute DREAM location! Quiet and pet friendly neighborhood and walking distance to schools, parks, Richmond Center, Lansdowne Mall, Kwantlen, Walmart, T&T, Skytrain Stations and much more! Call and come see it today!
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I have listed a new property at 206 9200 FERNDALE RD in Richmond.
LOOK NO FURTHER! This gorgeous 2 bed 2 bath (plus flex/den) quiet unit is the perfect home for you! Featuring spacious, open floor-plan, functional kitchen with gas stovetops, stainless steel appliances and Granite countertops, and a large covered patio space for your exclusive enjoyment! NEW high quality hood fan, brand NEW carpet, NEW roof, and NEW clothe washer & Dryer were added to this lovely home in the end of 2020. Moreover, Absolute DREAM location! Quiet and pet friendly neighborhood and walking distance to schools, parks, Richmond Center, Lansdowne Mall, Kwantlen, Walmart, T&T, Skytrain Stations and much more! Call and come see it today!
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I have sold a property at 20 14952 58 AVE in Surrey.
RENOVATED! Welcome to Highbrae, your oasis in the city. This GORGEOUS 4 bed 3 bath corner unit townhome features a spacious living space, 9' high ceilings, functional kitchen/dining areas, gas fireplace, with double car garage, large covered deck and private fenced yard. Expensive upgrades are everywhere, including BRAND NEW kitchen appliances, washer & dyer, hardwood floors, FULLY RENOVATED washrooms, new paint throughout the home, custom light fixtures, NEW ROOF, NEW GUTTERS and MUCH MORE! Blocks away from shopping, banks, restaurants, enteraintments. THIS WON'T LAST! OPEN HOUSE March 5&6 2-4 PM by appointment only.
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I have listed a new property at 20 14952 58 AVE in Surrey.
RENOVATED! Welcome to Highbrae, your oasis in the city. This GORGEOUS 4 bed 3 bath corner unit townhome features a spacious living space, 9' high ceilings, functional kitchen/dining areas, gas fireplace, with double car garage, large covered deck and private fenced yard. Expensive upgrades are everywhere, including BRAND NEW kitchen appliances, washer & dyer, hardwood floors, FULLY RENOVATED washrooms, new paint throughout the home, custom light fixtures, NEW ROOF, NEW GUTTERS and MUCH MORE! Blocks away from shopping, banks, restaurants, enteraintments. THIS WON'T LAST! OPEN HOUSE March 5&6 2-4 PM by appointment only.
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I have sold a property at 301 930 CAMBIE ST in Vancouver.
Reset and rejuvenate with the perfect balance of central city convenience with natural green-space privacy and tranquility! A truly refined 3-bedroom CORNER UNIT featuring a breath-taking 241 sqft patio completely surrounded by dense,lush greenery. Spacious and modern Scandinavian-inspired open layout featuring a multifunctional floorplan for living and dining area with plenty of natural light all-year round. Gorgeous gourmet kitchen with premium European appliances, full-size fridge, and quartz countertops. Expensive upgrades are everywhere, including remote-controlled blackout blinds, hardwood floors, custom walk-in California closet, rainfall-shower, heated floor bathrooms, and MUCH MORE! Walking distance to Yaletown/Vancouver City-Center/StadiumChinatown Skytrain Stations and seawall!
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I have listed a new property at 301 930 CAMBIE ST in Vancouver.
Reset and rejuvenate with the perfect balance of central city convenience with natural green-space privacy and tranquility! A truly refined 3-bedroom CORNER UNIT featuring a breath-taking 241 sqft patio completely surrounded by dense,lush greenery. Spacious and modern Scandinavian-inspired open layout featuring a multifunctional floorplan for living and dining area with plenty of natural light all-year round. Gorgeous gourmet kitchen with premium European appliances, full-size fridge, and quartz countertops. Expensive upgrades are everywhere, including remote-controlled blackout blinds, hardwood floors, custom walk-in California closet, rainfall-shower, heated floor bathrooms, and MUCH MORE! Walking distance to Yaletown/Vancouver City-Center/StadiumChinatown Skytrain Stations and seawall!
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I have sold a property at 404 8183 121A ST in Surrey.
Selling BELOW market value! Fully renovated in 2019! A truly refined 2 bedroom PENTHOUSE SUITE near King George Skytrain Station. TOP FLOOR CORNER unit featuring an open layout with a fully equipped gourmet kitchen. Stainless steel appliances, big full-size fridge, quartz kitchen counters and functional double sinks are perfect for the chef in you! 9 feet High ceiling Spacious family living room area leads to a large balcony with peekaboo mountain view for your exclusive enjoyment. The amenities include a fully equipped gym, a party/meeting room, and guest suites. Don't miss out on this hidden gem! Call or text to book an appointment today! (Covid19 Protocol: Appointment only )
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I have listed a new property at 404 8183 121A ST in Surrey.
Fully renovated in 2019! A truly refined 2 bedroom TOP FLOOR CORNER unit! This PENTHOUSE SUITE features a open layout with a fully equipped gourmet kitchen. Stainless steel appliances, big full-size fridge, quartz kitchen counters and functional double sinks are perfect for the chef in you! Spacious family living room area leads to a large balcony with peekaboo mountain view for your exclusive enjoyment. The building was completely renovated in 2019, and the amenities include a fully equipped gym, a party/meeting room, and guest suites. Don't miss out on this hidden gem! Call or text to book an appointment today!
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I have listed a new property at 404 8183 121A ST in Surrey.
A truly rarefind 2 bedroom TOP FLOOR CORNER unit! This PENTHOUSE SUITE features a open layout with a fully equipped gourmet kitchen. Stainless steel appliances, big full-size fridge, quartz kitchen counters and functional double sinks are perfect for the chef in you! Spacious family living room area leads to a large balcony with peekaboo mountain view for your exclusive enjoyment. The building was completely renovated in 2019, and the amenities include a fully equipped gym, a party/meeting room, and guest suites. Don't miss out on this hidden gem! Call or text to book an appointment today! *Open House April 24 & 25 12-4pm by appointment only*
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Home buyer demand remains elevated across Metro Vancouver

In the first month of 2021, Metro Vancouver’s* housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,389 in January 2021, a 52.1 per cent increase from the 1,571 sales recorded in January 2020, and a 22.8 per cent decrease from the 3,093 homes sold in December 2020.


Last month’s sales were 36.4 per cent above the 10-year January sales average.


“With home sale activity well above our January average, the supply of homes for sale isn’t able to keep pace,” Colette Gerber, REBGV Chair said. “This is causing increased competition amongst home buyers and upward pressure on prices.”


There were 4,480 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2021. This represents a 15.7 per cent increase compared to the 3,872 homes listed in January 2020 and an 86 per cent increase compared to December 2020 when 2,409 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,306, a 3.6 per cent decrease compared to January 2020 (8,617) and a 2.7 per cent decrease compared to December 2020 (8,538).


For all property types, the sales-to-active listings ratio for January 2021 is 28.8 per cent. By property type, the ratio is 26.3 per cent for detached homes, 37.6 per cent for townhomes, and 27.8 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.


“Shifting housing needs during the pandemic and historically low interest rates have been key drivers of demand in our market over the last six months,” Gerber said. “People who managed to enter the market a few years ago, and have seen their home values increase, are now looking to move up in the market to accommodate their changing needs.”


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,056,600. This represents a 5.5 per cent increase compared to January 2020 and a 0.9 per cent increase compared to December 2020.


Sales of detached homes in January 2021 reached 740, a 68.6 per cent increase from the 439 detached sales recorded in January 2020. The benchmark price of a detached homes is $1,576,800. This represents a 10.8 per cent increase from January 2020 and a 1.4 per cent increase compared to December 2020.


Sales of apartment homes reached 1,195 in January 2021, a 46.8 per cent increase compared to the 814 sales in January 2020. The benchmark price of an apartment home is $680,800. This represents a 2.2 per cent increase from January 2020 and a 0.6 per cent increase compared to December 2020.


Attached home sales in January 2021 totalled 454, a 42.8 per cent increase compared to the 318 sales in January 2020. The benchmark price of an attached home is $815,800. This represents a 4.3 per cent increase from January 2020 and a 0.2 per cent increase compared to December 2020.

Note:

Areas covered by the Real Estate Board of Greater Vancouver include: 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.

The real estate industry is a key economic driver in British Columbia. In 2020, 30,944 homes changed ownership in the Board’s area, generating $2.1 billion in economic spin-off activity and an estimated 14,728 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $33.7 billion in 2020.

The Real Estate Board of Greater Vancouver is an association representing more than 13,700 REALTORS® and their companies. The Board 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 www.rebgv.org.

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Metro Vancouver housing market shows resilience in 2020

Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded in 2019, and a 25.7 per cent increase from the 24,619 homes sold in 2018.


Last year’s sales total was 2.8 per cent below the 10-year sales average.


“When the pandemic began in March, the housing market came to a near standstill. We knew, however, that shelter needs don’t go away in times of crisis, they intensify," Colette Gerber, REBGV Chair said. “The real estate community worked closely with our regulatory bodies and public health officials in the spring to ensure appropriate precautions and protocols were implemented so BC REALTORS® could help residents safely meet their housing needs."


Home listings on the Multiple Listing Service® (MLS®) in Metro Vancouver reached 54,305 in 2020. This is a 4.6 per cent increase compared to the 51,918 homes listed in 2019 and a 1.3 per cent increase compared to the 53,614 homes listed in 2018.


Last year’s listings total was 2.7 per cent below the region’s 10-year average.


“After adapting to the COVID-19 environment, local home buyer demand and seller supply returned at a steady pace throughout the summer, fall and winter seasons," Gerber said. "Shifting housing needs and low interest rates were key drivers of this activity in 2020. Looking ahead, the supply of homes for sale will be a critical factor in determining home price trends in 2021.”


The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,047,400. This is a 5.4 per cent increase compared to December 2019.


The benchmark price for apartments increased 2.6 per cent in the region last year. Townhomes increased 4.9 per cent and detached homes increased 10.2 per cent.

December Summary

REBGV reports that residential home sales in the region totalled 3,093 in December 2020, a 53.4 per cent increase from the 2,016 sales recorded in December 2019, and a 0.9 per cent increase from the 3,064 homes sold in November 2020.


Last month’s sales were 57.7 per cent above the 10-year December sales average and is the highest total for the month on record.


“Robust December sales outpaced long-term averages in what’s traditionally the quietest month of the year in real estate. This was part of an unusual seasonal pattern the market followed last year, which can be attributed in large part to the pandemic,” Gerber says.


There were 2,409 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2020. This represents a 51.7 per cent increase compared to the 1,588 homes listed in December 2019 and a 40.8 per cent decrease compared to November 2020 when 4,068 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,538, a 0.8 per cent decrease compared to December 2019 (8,603) and a 23.2 per cent decrease compared to November 2020 (11,118).

For all property types, the sales-to-active listings ratio for December 2020 is 36.2 per cent. By property type, the ratio is 35.2 per cent for detached homes, 50.4 per cent for townhomes, and 33.1 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.


Sales of detached homes in December 2020 reached 1,026, a 71.3 per cent increase from the 599 detached sales recorded in December 2019. The benchmark price for detached homes is $1,554,600. This represents a 10.2 per cent increase from December 2019 and a one per cent increase compared to November 2020.


Sales of apartment homes reached 1,474 in December 2020, a 40 per cent increase compared to the 1,053 sales in December 2019. The benchmark price of an apartment property is $676,500. This represents a 2.6 per cent increase from December 2019 and is unchanged from November 2020.


Attached home sales in December 2020 totalled 593, a 62.9 per cent increase compared to the 364 sales in December 2019. The benchmark price of an attached home is $813,900. This represents a 4.9 per cent increase from December 2019 and a 0.1 per cent decrease compared to November 2020.

Note:

Areas covered by the Real Estate Board of Greater Vancouver include: 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.

The Real Estate Board of Greater Vancouver is an association representing more than 13,700 REALTORS® and their companies. The Board 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 www.rebgv.org.

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Home sale and listing resurgence extends into the fall

Home sale and new listing activity remained at near record levels across Metro Vancouver in October.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,687 in October 2020, a 29 per cent increase from the 2,858 sales recorded in October 2019, and a 1.2 per cent increase from the 3,643 homes sold in September 2020.


Last month’s sales were 34.7 per cent above the 10-year October sales average and stands as the second-highest total on record for the month.


“Home has been a focus for residents during the pandemic. With more days and evenings spent at home this year, people are re-thinking their housing situation," Colette Gerber, REBGV Chair said. “Throughout this period, REALTORS® have been working to understand and adapt to the latest safety protocols so that they can continue to help the public meet their housing needs in a safe and responsible way.”


There were 5,571 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2020. This represents a 36.7 per cent increase compared to the 4,074 homes listed in October 2019 and a 13 per cent decrease compared to September 2020 when 6,402 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,416, a 1.5 per cent increase compared to October 2019 (12,236) and a 5.2 per cent decrease compared to September 2020 (13,096).


“With demand on the rise, homes priced right for today’s market are receiving attention and, at times, garnering multiple offers," Gerber said. "To understand the market conditions in your neighbourhood and property type of choice, work with your local REALTOR® to assess the latest MLS® housing market information."


For all property types, the sales-to-active listings ratio for October 2020 is 29.7 per cent. By property type, the ratio is 30.9 per cent for detached homes, 43.5 per cent for townhomes, and 24.9 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 $1,045,100. This represents a six per cent increase over October 2019 and a 0.4 per cent increase compared to September 2020.


Sales of detached homes in October 2020 reached 1,335, a 42.3 per cent increase from the 938 detached sales recorded in October 2019. The benchmark price for a detached home is $1,523,800. This represents an 8.5 per cent increase from October 2019 and a 1.1 per cent increase compared to September 2020.


Sales of apartment homes reached 1,570 in October 2020, a 13.4 per cent increase compared to the 1,384 sales in October 2019. The benchmark price of an apartment property is $683,500. This represents a 4.4 per cent increase from October 2019 and is unchanged compared to September 2020.


Attached home sales in October 2020 totalled 782, a 45.9 per cent increase compared to the 536 sales in October 2019. The benchmark price of an attached home is $813,000. This represents a 5.4 per cent increase from October 2019 and a 0.4 per cent increase compared to September 2020.

Note:

Areas covered by the Real Estate Board of Greater Vancouver include: 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.

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Home sale and new listing activity reached record levels in Metro Vancouver in September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded in September 2019, and a 19.6 per cent increase from the 3,047 homes sold in August 2020.


Last month’s sales were 44.8 per cent above the 10-year September sales average and is the highest total on record for the month.


“We've seen robust home sale and listing activity across Metro Vancouver throughout the summer months," Colette Gerber, REBGV Chair said. "This increased activity can be attributed, in part, to lower interest rates and changing housing needs during the COVID-19 pandemic."


There were 6,402 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2020. This represents a 31.6 per cent increase compared to the 4,866 homes listed in September 2019 and a 10.1 per cent increase compared to August 2020 when 5,813 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,096, a 2.6 per cent decrease compared to September 2019 (13,439) and a 2.3 per cent increase compared to August 2020 (12,803).


"While the pace of new MLS® listings entering the market is increasing, the heightened demand from home buyers is keeping overall supply levels down," Gerber said. "This is creating upward pressure on home prices, which have been edging up since the spring."


For all property types, the sales-to-active listings ratio for September 2020 is 27.8 per cent. By property type, the ratio is 28.3 per cent for detached homes, 36.1 per cent for townhomes, and 24.8 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 $1,041,300. This represents a 5.8 per cent increase over September 2019, and a 0.3 per cent increase compared to August 2020.


Sales of detached homes in September 2020 reached 1,317, a 76.8 per cent increase from the 745 detached sales recorded in September 2019. The benchmark price for detached properties is $1,507,500. This represents a 7.8 per cent increase from September 2019 and a 1.1 per cent increase compared to August 2020.


Sales of apartment homes reached 1,596 in September 2020, a 36.9 per cent increase compared to the 1,166 sales in September 2019. The benchmark price of an apartment property is $683,500. This represents a 4.5 per cent increase from September 2019 and a 0.3 per cent decrease compared to August 2020.


Attached home sales in September 2020 totalled 730, a 73 per cent increase compared to the 422 sales in September 2019. The benchmark price of an attached unit is $809,900. This represents a 5.2 per cent increase from September 2019 and a 0.4 per cent increase compared to August 2020.       

Note:

Areas covered by the Real Estate Board of Greater Vancouver include: 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.

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I have sold a property at 339 5311 CEDARBRIDGE WAY in Richmond.
Welcome to Riva 2, built by Onni Group, one of the most reputable developers in the lower Mainland. This spacious 1 bedroom unit includes 1 den and a large balcony for your exclusive enjoyment. Featuring prestigious brand name stainless steel appliances, insuite laundry, hardwood flooring & Airconditioning. Overlooking the community garden with Mountain view. Amenities include a clubhouse, a party room, an indoor pool with hot tub, a fitness center and much more. Walking distance to Richmond Shopping Center, T&T Grocery Store, and Lansdowne Skytrain station. Don't miss out on this gem! Call or text to book an appointment today! *OPEN HOUSE SEP 26TH 2-4PM* *MASKS MANDATORY*
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Home sale and listing activity continues to increase in August

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.

 

Note:

Areas covered by the Real Estate Board of Greater Vancouver include: 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.

The Real Estate Board of Greater Vancouver is an association representing more than 14,000 REALTORS® and their companies. The Board 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 www.rebgv.org.

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I have listed a new property at 44 9989 BARNSTON DR E in Surrey.
Welcome to Highcrest Townhome! Located right in the center of fraser heights with easy access to Hwy 1 and Golden Ears. Enjoy an open concept living area in this spacious 3 bed 3 bath townhome. 9'-12' ceilings throughout the unit. Quartz countertops in the kitchen and all bathrooms. Large kitchen island & pantry, perfect for gourmet cooking. Customized chandelier and fireplace adding characters to the home. Ample storage space. Upgraded top quality blinds and awnings throughout the home. Elevated 270 sqft large patio for your exclusive enjoyment. This could be your dream home! Won't last long on the market. Call to see it before it's gone!
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.