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...

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Home buyer and seller activity in Metro Vancouver* exceeded historical levels in July.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,128 in July 2020, a 22.3 per cent increase from the 2,557 sales recorded in July 2019, and a 28 per cent increase from the 2,443 homes sold in June 2020.


Last month’s sales were 9.4 per cent above the 10-year July sales average.


“We're seeing the results today of pent up activity, from both home buyers and sellers, that had been accumulating in our market throughout the year,” Colette Gerber, REBGV Chair said. “Low interest rates and limited overall supply are also increasing competition across our market.”


There were 5,948 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service®...

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I've always spoken to the need for a good agent to be a willing learner and have the ability to constantly adapt to the situations and markets we're working in. This has never been more true then amidst the current pandemic crisis that's touched all of our lives. As has been the case with every one of your ways of life, and work, the learning curve has been steep. 


Real Estate sales was deemed an essential service for good reason and we were permitted to conduct business, as necessary, under hastily prepared regulations. We always make the best decisions possible based upon the information we have and the regulations were set as such. The information then came at a frantic pace, often changing daily, requiring us to adjust and take the appropriate caution needed for the given situation we are dealing with. The given situation being the client and...

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The Bank of Canada this week announced that changes to the benchmark qualifying rate, commonly known as the “stress test” will be coming and effective as of April 6th of this year.


The Stress Test is a measure implemented by the Office of the Superintendent of Financial Institutions to ensure home purchasers are able to fulfill their commitments throughout the term of the mortgage despite possible rate increases.


To date, this has been done by requiring the consumer to gain approval at the higher of (a) the big banks’ posted 5-year fixed mortgage rate or (b) their negotiated rate +2%. In the great majority of cases, this was the 5-year fixed mortgage rate.


As of April 6th, 2020, the stress test will now not be affiliated with the posted rates. The new benchmark qualifying rate will be determined weekly by finding the median 5-year mortgage...

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This years Visual Arts, Design and Crafts Festival known as the Eastside Cultural Crawl begins today, November 15th at 5pm!

This is the 21st edition of the annual Eastside Cultural Crawl in which local artists and tradespeople open their studio and shop doors to showcase their passions to the public. You'll find all sorts of incredible Vancouverites from painters, jewelers, furniture makers, weavers, potters, photographers, glassblowers, sculptures, printmakers, woodworkers and more.


The shops and studios open to public are within the area of South to North from 1st Avenue to the Waterfront and East to West from Victoria Drive to Columbia Street. The organizers have created a fabulous web app that allows you to view an interactive map that pinpoints all the Crawls participants. Here is a look at the print version but I recommend you check out this site...

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Downtown Vancouver Condo Market

 
The Downtown core of Vancouver saw more sales in August than we got in July while the inventory dropped to its lowest level since April this year.
 
Downtown, Yaletown and The Westend ended the month in Sellers Market territory with Sales-to-Active listing ratios from 24% to 28% thanks likely in large part to the near 10% drop in inventory.
 
Condos in the Downtown core priced under $800,000 are clearly the most desirable and saleable product in todays market. This would explain why Coal Harbour is the cores slowest moving market through August with 13 sales and a balanced market Sales-to-Active listing ratio of 14%.
 
As for the most desired type of unit in the Downtown it’s clearly the studio and 1-bedroom homes as this class is the only in Sellers Market territory making up over 50% of all...
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There were seven properties reported as sold across Vancouver East this past week ending August 31st. 
 

Highest Sale Price for the Week

  • Fraser - Riley Park
  • Sold near $2.4 million
  • 33 foot frontage
  • Near 3,400 sq ft lot
  • 7-year old custom built
  • Slightly over 2,200 sq ft livable
 
The high sale for the week was within the Fraser sub-area just a few blocks off Main Street in a neighbourhood commonly referred to as Riley Park. Within a week of being on the market the home achieved a sale just above asking and just over $2.4 million. 
 
This was a beautiful, modern design, custom built home just seven years old in a fabulous location. With a shade over 2,200 square feet of living space, 2 bedrooms above the main and a legal 1-bed basement suite, features such as heated concrete floors and mountain views from the rooftop patio,...
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Fraser Commons by Serracan 

Marketed by Rennie Marketing Systems


Located at the North East Corner of Fraser street and Southeast Marine Drive Fraser Commons will be a group of 4-buildings including 363 residential homes.


  • Four Buildings located on the North East corned of Fraser St and SE Marine Dr.
  • 363 Residential Units (192 of which are 2+ bed)
  • 5 to 21 Storey Buildings.
  • 37-child Daycare
  • 20,000+ Square Feet Retail
  • 319 Residential Parking Stalls
  • 492 Residential Bike Stalls
  • 1,500 Sq Ft Neighbourhood House
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Adam Goss
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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.