12515 Colemore Place Maple Ridge 

Absolutely stunning 3 bedroom & 2 bath Rancher on a quiet cul-de-sac. From the moment you drive up you will be impressed.

Beautiful living room with lovely gas fireplace & bayed windows. Dining room with cabinet alcove. Bright & white kitchen cabinets, corian countertops & S/S appliances. Skylights for extra light.Breakfast bar & eating area nook.

Family room with 2 white glass cabinets. Sliders to covered patio for year-round enjoyment. Fenced cute yard for Fido & family.

Lovely primary bedroom with updated 3-piece ensuite. Other 2 good size bedrooms. Updated main bath. Beautiful easy-care floors.

Bonus flex room for a games room, media space, or a great home office business area. Lots of storage.

Eco paving on driveway and patio for easy care.

This home is beautifully decorated with all the extra touches. Truly a beauty.  Call your Realtor today…

Listed for $1,350,000.00

http://www.listings.360hometours.ca/15796

In honor of St. Patrick's Day tomorrow, I thought we could talk about all things green.

When it comes to home decorating, the color green can evoke powerful emotions. It symbolizes growth, renewal, abundance, peace, and security.

And, who wouldn't want all those good feels in their home?

Here's some tips for using green in your home:

Tip #1 - The best rooms for going green

Green is a great color choice for any room where you want to create the feeling of luxury, or a feeling of being safe and secure.

It can make a great statement wall in a dining room, or be a peaceful color for a bedroom. Lately, it's also become a popular color for kitchen cabinets.

Dark Greens - great for dining room and bedroom accent walls, a home office, and kitchen/bath cabinetry

Light Greens - perfect for bedrooms

Gorgeous green accent wall from Angela Rose Home​

Tip #2 - Green paint colors can be tricky

Green paint colors often have undertones that can make it challenging to find the perfect one, so sampling and testing them is KEY!

If you read my post about the 2022 paint colors of the year, then you already know that gray-greens were a clear trend. Expect to see a lot of gray-green this year on everything from walls to cabinets.

Here are some of my favorite green paint colors (from dark to light):

• ​Benjamin Moore Hunter Green​
• ​Farrow & Ball Green Smoke​
• ​Sherwin-Williams Evergreen Fog​
• ​Benjamin Moore Saybrook Sage​
• ​Benjamin Moore Soft Fern​

Tip #3 - The best colors to pair with green

Greens are versatile and play well with others. They work very well with colors that are next to them on the color wheel (blues and yellows), or opposite on the wheel (reds). And, of course, they also look great with neutrals

Here are come of the best colors to pair with green:

• Neutrals (blacks, whites, grays, browns, beiges)
• Navy blue
• Icy blues and turquoise
• Rust and terracotta
• Pinks, corals, and mauves
• Burgundy

Tip #4 - Add a little green-ery to every room in your home

Plants are a crucial element of a well-designed home. Not only do they add color and texture to a space, but they have a way of making a room feel more cozy and finished.

Here's an easy and clear rule you should be following:

Use at least one plant or floral in every room of your home.

Yes, that includes the bathroom.

6 Brackenridge Place Port Moody

Welcome to 6 Brackenridge in Heritage Mountain. This fabulous executive 4/5 bedroom & 4 bath home is just what you have been waiting for. Located on a quiet cul-de-sac street, this home has had many updates through the years. Elegant living room & dining area with new wood flooring. The gourmet kitchen is the show piece of the main floor. Stunning wood cabinets, gleaming S/S appliances & quartz counters tops, large walk-in pantry would make a chef proud. Large eating area & family room also finish this area. Large concrete sundeck for bbqing or relaxing & taking in the beautiful greenbelt.  Upstairs boosts 3 bedrooms & 2 updated bathrooms. The lower floor would make a great teen area or perhaps an in-law suite, with an updated spa-like bathroom. Sliders leads to an extra-large patio. Beautifully landscaped fully fenced backyard has easy care green turf, perfect for the kids or Fido. Truly a pleasure to show…

Listings inch up, demand remains steady and price gains continue in Metro Vancouver’s housing market in February

The Metro Vancouver housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February.  

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,424 in February 2022, an 8.1 per cent decrease from the 3,727 sales recorded in February 2021, and a 49.8 per cent increase from the 2,285 homes sold in January 2022. 

Last month’s sales were 26.9 per cent above the 10-year February sales average. 

“As we prepare to enter what’s traditionally the busiest season of the year, the Metro Vancouver housing market is seeing more historically typical home sale activity and a modest uptick in home listing activity compared to last year,” Taylor Biggar, REBGV Chair said.   

There were 5,471 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2022. This represents an 8.4 per cent increase compared to the 5,048 homes listed in February 2021 and a 31.2 per cent increase compared to January 2022 when 4,170 homes were listed.

 
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 6,742, a 19.3 per cent decrease compared to February 2021 (8,358) and a 19.1 per cent increase compared to January 2022 (5,663). 

“Despite having a higher volume of people listing their homes for sale in February, the region’s housing market remains significantly undersupplied, which has been pushing home prices to new highs month after month,” Biggar said. 

 
For all property types, the sales-to-active listings ratio for February 2022 is 50.8 per cent. By property type, the ratio is 34.9 per cent for detached homes, 64.3 per cent for townhomes, and 62.2 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 properties in Metro Vancouver is currently $1,313,400. This represents a 20.7 per cent increase over February 2021 and a 4.6 per cent increase compared to January 2022. 

“A lack of housing supply is at the heart of the affordability challenges in Metro Vancouver today. We need more coordinated action from stakeholders at all levels to help create an ample, diverse supply of housing options for residents in the region today and into the future,” Biggar said.

Sales of detached homes in February 2022 reached 1,010, an 18 per cent decrease from the 1,231 detached sales recorded in February 2021. The benchmark price for detached properties is $2,044,800. This represents a 25 per cent increase from February 2021 and a 4.7 per cent increase compared to January 2022. 

Sales of apartment homes reached 1,854 in February 2022, a 5.4 per cent increase compared to the 1,759 sales in February 2021. The benchmark price of an apartment property is $807,900. This represents a 15.9 per cent increase from February 2021 and a 4.1 per cent increase compared to January 2022. 

Attached home sales in February 2022 totalled 560, a 24 per cent decrease compared to the 737 sales in February 2021. The benchmark price of an attached unit is $1,090,000. This represents a 27.2 per cent increase from February 2021 and a 5.9 per cent increase compared to January 2022. 

Download the February 2022 stats package.

Low supply keeps upward pressure on home prices across Metro Vancouver’s housing market

The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,285 in January 2022, a 4.4 per cent decrease from the 2,389 sales recorded in January 2021, and a 15 per cent decrease from the 2,688 homes sold in December 2021. 

Last month’s sales were 25.3 per cent above the 10-year January sales average. 

There were 4,170 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2022. This represents a 6.9 per cent decrease compared to the 4,480 homes listed in January 2021 and a 114.4 per cent increase compared to December 2021 when 1,945 homes were listed.  

“Our listing inventory on MLS® is less than half of what would be optimal to begin the year. As a result, hopeful home buyers have limited choice in the market today. This trend is causing fierce competition for a scarce number of homes for sale, which, in turn, increases prices,” Keith Stewart, REBGV economist said. 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 5,663, a 31.8 per cent decrease compared to January 2021 (8,306) and an 8.2 per cent increase compared to December 2021 (5,236). 

“As we approach spring, we’ll keep a close eye on the impact of rising interest rates on buyers’ willingness to buy and on whether more home owners will opt to become sellers in what’s traditionally the busiest season of the year,” Stewart said. “With home prices reaching new highs in recent months, the need has never been greater for government to collaborate with the building community to expedite the creation of housing supply and provide more choice for those struggling to buy a home today.” 

For all property types, the sales-to-active listings ratio for January 2022 is 40.3 per cent. By property type, the ratio is 28 per cent for detached homes, 51.6 per cent for townhomes, and 49.7 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 $1,255,200. This represents a 18.5 per cent increase over January 2021 and a two per cent increase compared to December 2021. 

Sales of detached homes in January 2022 reached 622, a 15.9 per cent decrease from the 740 detached sales recorded in January 2021. The benchmark price for a detached home is $1,953,000. This represents a 22.7 per cent increase from January 2021 and a 2.2 per cent increase compared to December 2021. 

Sales of apartment homes reached 1,315 in January 2022, a 10 per cent increase compared to the 1,195 sales in January 2021. The benchmark price of an apartment property is $775,700. This represents a 14 per cent increase from January 2021 and a 1.8 per cent increase compared to December 2021. 

Attached home sales in January 2022 totalled 348, a 23.3 per cent decrease compared to the 454 sales in January 2021. The benchmark price of an attached home is $1,029,500. This represents a 24.3 per cent increase from January 2021 and a 2.5 per cent increase compared to December 2021.

Download the January 2022 stats package.

Listed for $675,000.00

Welcome to Inglenook…

This fabulous bright top floor 2 bedroom & 2 bath condo is a pleasure to show. Functional floorplan with 9-foot ceilings.

Easy care flooring through most of the home with carpet in bedrooms.

Electric fireplace in living room & sliders to a large, covered balcony, with storage alcove.

Stainless steel fridge, gas range & fan in kitchen.

Primary bedroom with walk in closet.

Ensuite with deep soaker tub. Main bath with walk-in shower.

Good size 2nd bedroom.

In suite laundry. 2 pets allowed.

Enjoy the 15,000+ sq ft Canoe Club with outdoor pool/hot tub/gym/guest suites/indoor court/party room + more.

A short stroll to the Skytrain, Brewery Row, Rocky Point Park, Café Divano, Newport Village & Suter Brook for fabulous restaurants & shopping.

Call your Realtor to book a showing.

Metro Vancouver home sales set a record in 2021

Metro Vancouver home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 43,999 in 2021, a 42.2 per cent increase from the 30,944 sales recorded in 2020, a 73.6 per cent increase from the 25,351 homes sold in 2019, and a four per cent increase over the previous all-time sales record of 42,326 set in 2015. 

Last year’s sales total was 33.4 per cent above the 10-year sales average.

 
“Home has been a focus for residents throughout the pandemic. With low interest rates, increased household savings, more flexible work arrangements, and higher home prices than ever before, Metro Vancouverites, in record numbers, are assessing their housing needs and options,” Keith Stewart, REBGV economist said. 

Home listings on the Multiple Listing Service® (MLS®) in Metro Vancouver reached 62,265 in 2021. This is a 14.7 per cent increase compared to the 54,305 homes listed in 2020 and a 19.9 per cent increase compared to the 51,918 homes listed in 2019. 

Last year’s listings total was 11 per cent above the 10-year average. 

“While steady, home listing activity didn't keep pace with the record demand we saw throughout 2021. This imbalance caused residential home prices to rise over the past 12 months,” Stewart said.  

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 5,236, a 38.7 per cent decrease compared to December 2020 (8,538) and a 26.7 per cent decrease compared to November 2021 (7,144). 

“We begin 2022 with just over 5,000 homes for sale across the region. This is the lowest level we’ve seen in more than 30 years,” Stewart said. “With demand at record levels, residents shouldn’t expect home price growth to relent until there’s a more adequate supply of housing available to purchase.” 

The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,230,200. This is a 17.3 per cent increase compared to December 2020. 

Both detached home and townhome benchmark prices increased 22 per cent in the region last year, while apartments increased 12.8 per cent. 

Looking across Metro Vancouver, Maple Ridge saw the largest increase in benchmark prices at 34.7 per cent, followed by Pitt Meadows (29.8 per cent), and Whistler (27.8 per cent). 

Looking at area and property type, detached homes in Pitt Meadows saw the largest benchmark price increase at 42.2 per cent, followed by detached homes (38.5 per cent) and townhomes (35.2 per cent) in Maple Ridge. 

December summary 

REBGV reports that residential home sales in the region totalled 2,688 in December 2021, a 13.1 per cent decrease from the 3,093 sales recorded in December 2020, and a 21.6 per cent decrease from the 3,428 homes sold in November 2021. 

Last month’s sales were 33.4 per cent above the 10-year December sales average. 

There were 1,945 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2021. This represents a 19.3 per cent decrease compared to the 2,409 homes listed in December 2020 and a 50.9 per cent decrease compared to November 2021 when 3,964 homes were listed. 

For all property types, the sales-to-active listings ratio for December 2021 is 51.3 per cent. By property type, the ratio is 35.1 per cent for detached homes, 75.6 per cent for townhomes, and 60.8 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. 

Sales of detached homes in December 2021 reached 794, a 22.6 per cent decrease from the 1,026 sales recorded in December 2020. The benchmark price for a detached home is $1,910,200. This represents a 22 per cent increase from December 2020 and a 2.1 per cent increase compared to November 2021. 

Sales of apartment homes reached 1,464 in December 2021, a 1.4 per cent decrease compared to the 1,474 sales in December 2020. The benchmark price of an apartment home is $761,800. This represents a 12.8 per cent increase from December 2020 and a 1.2 per cent increase compared to November 2021. 

Attached home sales in December 2021 totalled 430, a 29.9 per cent decrease compared to the 613 sales in December 2020. The benchmark price of an attached home is $1,004,900. This represents a 22 per cent increase from December 2020 and a 1.5 per cent increase compared to November 2021. 

Download the December 2021 stats package.

Welcome to 6 Brackenridge in Heritage Mountain.

Listed for $2,100,000.00 

This fabulous executive home is just what you have been waiting for.

Located on a quiet street, this home has had many updates through the years.

Elegant living room & dining area.

The gourmet kitchen is the show piece of the main floor. Stunning wood cabinets, gleaming S/S appliances & shiny stone counters tops, large walk-in pantry would make a chef proud.

Large eating area & family room also finish this area. Large sundeck for bbqing or relaxing & taking in the beautiful greenbelt.

Upstairs boosts 3 bedrooms & 2 updated bathrooms.

The lower floor would make a great teen area or perhaps an in-law suite, with an updated bathroom.

Sliders leads to an extra-large patio.

Beautifully landscaped backyard has easy care green turf, perfect for the kids or Fido.

Truly a pleasure to show…

If you’re fortunate enough to own a home with a covered garage, you know how handy it can be to store things like sporting equipment, tools, off-season tires and boxes of holiday decorations. But if your vehicle is permanently parked outdoors because your garage has become a disorganized catch-all for countless boxes of unused items, it may be time for an intervention.

Heading into the fall, this is the perfect time to clean and organize your garage. Ideally, your garage can be a place where only necessary items live and everything has a home. Most importantly, it’s where your vehicle can be parked, away from extreme cold (and extreme heat), inches of heavy snow and thick layers of ice, which is an inevitability during Canadian winters.

Follow these helpful tips to get your garage in order before the cold weather hits!

1. Set aside a reasonable amount of time (you’ll probably need an entire weekend) to purge and clean out your garage. Categorize items by those you will keep, donate or sell, and toss. 
2. Once your things are organized, give the garage a proper cleaning. Sweep and wash the floor and wipe down the doors and walls. 
3. Everything from tools to golf clubs to household items should have their own designated spot, and proper storage solutions are imperative to maintaining an organized garage. Measure how much space you will need to park your vehicle and safely open the doors. 
4. Once you know the depth you have to work with, install appropriate shelving or cabinets for organized storage. Keep items in clear bins on the shelves for easy access and safe keeping. Install wall hooks or peg boards to hang things like shovels and hoses. If space is limited, use overhead storage racks to keep items you don’t need to access often. Do your best to keep items off the ground to avoid water damage. 
5. Remove any items that should not be stored in a garage, like old paint, propane, unsealed food items that can attract animals, or important paperwork that can be destroyed by moisture.
6. To ensure your garage stays clean and organized, make a point to ‘spring clean’ the space at least once or twice each year. 

Stay in the habit of parking inside the garage. If you know the space in the centre is always occupied by a car, you will not be tempted to fill it up with miscellaneous items. Plus, parking inside can actually extend the life of your vehicle by protecting it from the elements.

Before the cold weather sets in, make sure your home is winter-ready. Be sure to check these important tasks off your list. 

• Clear leaves and debris from your eavestroughs to avoid clogging
• Winterize landscaping and remove leaves your lawn, as this can lead to rotting in the spring
• Drain and shut off all outdoor water supplies, including garden hoses, sprinkler systems and outdoor taps
• Seal your doors and windows with caulking or weather stripping to limit the amount of cold air that comes and hot air that can escape
• Clean and cover your air conditioning unit to protect it from snow and ice. This will help to increase the lifespan of your unit
• Clean and inspect your furnace, gas fireplace and dryer vents to avoid fires when the heat is turned on in the winter. And, don’t forget to replace old filters
• Cover your outdoor equipment and patio furniture to protect it from the elements
• If you have a working fireplace, clean and inspect your chimney before the first use of the season
• Seal cracks in your driveway to prevent water from seeping in, freezing and expanding
• Test your snowblower and other winter equipment in advance
• Replace the batteries in your smoke and carbon monoxide detectors, and test them to ensure they are working properly
• Check your fire extinguishers and replace them if they’ve expired

Since the late spring of 2020, Canadian home prices have been rising at historic rates, following the onset of the global pandemic. Widespread lockdowns suddenly forced millions of workers and students to conduct their daily business from home. While the trend of working remotely was gaining in popularity in the years prior, the seemingly unending health crisis accelerated the movement, driving many Canadians living in major urban centres to trade in their cramped quarters for more space in smaller cities and rural communities.

The latest Royal LePage House Price Survey and Market Forecast shows price growth in Kingston’s single-family detached segment was the highest in the country, posting an increase of 46.5% year-over-year in the third quarter. Following Kingston, Ajax had the next highest year-over-year home price appreciation for the detached properties, rising 36.2% year-over-year; then, Langley (34.5%) and Greater Victoria (34.0%). Kingston also had one of the highest aggregate price increases nationwide (36%), second only to Saint John, New Brunswick (36.4%).    

“Competition in Kingston’s housing market is incredibly high. Inventory has reached an all-time low, while demand gets stronger everyday,” said Bob Armer, area manager, Royal LePage ProAlliance Realty. “Today, there are even more buyers from out of town – namely from Toronto and the GTA – than there were a year ago. This migration continues to put a lot of upward pressure on prices, which is especially challenging for local buyers.”

Armer noted that Kingston’s proximity to Toronto has made it very popular among young people who can work remotely but may need to be in the office once or twice per week. 

This is just one example of secondary cities that have grown in popularity and population over the last 15 months. Nationally, home price appreciation is being driven by the detached segment in secondary cities, like Kingston.

Royal LePage is forecasting that the aggregate price of a home in Canada will increase 16% per cent to $771,500 in the fourth quarter of 2021, compared to the same quarter last year, putting real estate values on track to grow 33% by the end of the year from June, 2020.

Read Royal LePage’s third quarter release for more regional and national insights. 

Just Sold 303-2368 Marpole Avenue in Port Coquitlam for a record sale price for the building

Welcome to River Rock Landing.

Fabulous 2 bdrm & den condo is move in ready.

The living room has a gas fireplace & sliders that lead to the a private deck.

Dining room for entertaining.

The kitchen cabinets have been freshly painted white & bright.

New stainless-steel appliances. Stone counter tops & tiled back splash.

New laminate flooring in most areas & new carpet in bedrooms.

The 2 bathrooms have been updated in recent years as well as the washer & dryer.

Principal bedroom has a large walk-in closet plus sliders that also lead to the private deck.

The second bedroom would make a great home office.

Great prime location with parks, shopping, transit, new Poco Rec Centre & a wide array of restaurants & pubs.

For generations, Canadians have been asking themselves this important question:

‘Is it better to buy a home or rent?’

On the one hand, owning comes with more responsibility and higher monthly expenses, but offers more stability and a long-term investment. On the other hand, the money spent on renting will never be recuperated, however, it can offer some flexibility if you’re not sure how long you will live in one place.

According to a recent Royal LePage-sponsored study by economist Will Dunning, it is more financially beneficial to purchase a home than to rent in Canada, more than nine times out of ten. The study uses price data for 278 scenarios (broken out by city and housing type) across the country and assumes the owner is able to provide a 20% down payment. In 91% of scenarios, the monthly cost of owning a home is less than renting an equivalent dwelling, when considering the net ownership costs (total cost of ownership minus the portion of mortgage payment that goes toward principal). This is called the ‘ownership advantage’. 

“While Canadians do want their homes to appreciate, potential homebuyers will find it reassuring that significant price appreciation is not necessary for ownership to be financially worthwhile,” said Karen Yolevski, chief operating officer, Royal LePage Real Estate Services Ltd. “Historically, home ownership has been very profitable for Canadians, many of whom have factored their real estate investments into their retirement planning. Owning a home is widely viewed as a means to save money and build equity.” 

While home prices are expected to continue rising, the study found that even with a 10% decline in home prices, approximately half of the homeowners studied would still see a positive rate of return on investment, while the other half would break even or see a modest loss as an investment.

“For many people, buying a home – especially the first – is a landmark event and one of the most challenging decisions we’ll make in our lives,” said Will Dunning, president, Will Dunning Inc. “It is a decision that  is usually based on a lot of hard work. This research tests a belief that is held by a lot of Canadians, that owning is better financially than renting. And, it finds that this belief is very often correct.” 

Tor more insights, read the full release and report summary linked below:

The common notion that spring is a better time to sell than winter is being challenged by today’s hot seller’s market conditions. A recent Royal LePage survey found that 79% of real estate professionals say they would advise their clients to sell this winter, rather than wait until spring; significantly higher than the 64% who say they would have given that advice prior to the pandemic citing that current demand is outstripping supply in another year of unusual winter market activity.  

If you are considering listing your home this winter season, be sure to review our top ten tips for preparing your home for a winter sale!

1. Include both winter and summer photographs of your home in the listing so prospective buyers can better imagine themselves in the property all year round;
2. Clear a path to the front door and pathways around the home. Make sure the walkway is free of snow and ice; 
3. Turn up the heat in your home to a comfortable temperature;
4. Seal up any drafts in windows and doors;
5. Provide shoe covers or slippers, or lay down a large mat, so visitors don’t leave your floors looking messy for the next appointment. Don’t forget to remove winter boots and coats from your hall to make the area look bigger and so that visitors have a clear space to enter;
6. Up your winter curb appeal: Upgrade your mailbox and house number; add winter floral arrangements with hearty outdoor perennial planters
7. As the days are shorter and it gets dark earlier, keep outdoor lights on during showings; 
8. Whenever possible, show your home during the daytime and let lots of natural light inside;
9. Make the front door and entrance look warm and welcoming with seasonal decor;
10. And, showcase how outdoor spaces can be enjoyed even in the colder months. Be sure to clear off outdoor furniture that can be used in winter.

For more insights from the Royal LePage Winter Market Survey, read the press release here:

 Metro Vancouver home buyers compete for fewer home listings in October

Home sale activity in Metro Vancouver remained above historical averages in October while the overall supply of homes for sale dipped to levels not seen in three years.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,494 in October 2021, a 5.2 per cent decrease from the 3,687 sales recorded in October 2020, and an 11 per cent increase from the 3,149 homes sold in September 2021.

Last month’s sales were 22.4 per cent above the 10-year October sales average.

“Home sale activity continues to outpace what’s typical for this time of year and the pool of homes available for sale is in decline. This dynamic between supply and demand is causing home prices to continue to edge up across the region,” Keith Stewart, REBGV economist said.

There were 4,049 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2021. This represents a 27.3 per cent decrease compared to the 5,571 homes listed in October 2020 and a 21.7 per cent decrease compared to September 2021 when 5,171 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,034, a 35.3 per cent decrease compared to October 2020 (12,416) and a 13 per cent decrease compared to September 2021 (9,236).

“Rising fixed mortgage rates should eventually help ease demand, but for now sales remain strong and buyers with rate holds will remain motivated to find a property for the rest of the year,” Stewart said.

For all property types, the sales-to-active listings ratio for October 2021 is 43.5 per cent. By property type, the ratio is 33.6 per cent for detached homes, 64.4 per cent for townhomes, and 46.7 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 $1,199,400. This represents a 14.7 per cent increase over October 2020 and a 1.1 per cent increase compared to September 2021.

Sales of detached homes in October 2021 reached 1,090, an 18.4 per cent decrease from the 1,335 detached sales recorded in October 2020. The benchmark price for a detached home is $1,850,500. This represents a 20.5 per cent increase from October 2020 and a 1.2 per cent increase compared to September 2021.

Sales of apartment homes reached 1,801 in October 2021, a 14.7 per cent increase compared to the 1,570 sales in October 2020. The benchmark price of an apartment home is $746,400. This represents a 9.5 per cent increase from October 2020 and a 1.1 per cent increase compared to September 2021.

Attached home sales in October 2021 totalled 603, a 22.9 per cent decrease compared to the 782 sales in October 2020. The benchmark price of an attached home is $975,000. This represents an 18.5 per cent increase from October 2020 and a 1.2 per cent increase compared to September 2021.

Download the October 2021 stats package.

Elevated home sale activity continues to outstrip the supply of homes for sale in Metro Vancouver 

Home sale activity remains elevated across Metro Vancouver’s housing market while the pace of homes being listed for sale continues to follow long-term averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,149 in September 2021, a 13.6 per cent decrease from the 3,643 sales recorded in September 2020, and a 0.1 per cent decrease from the 3,152 homes sold in August 2021. 

Last month’s sales were 20.8 per cent above the 10-year September sales average. 

There were 5,171 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2021. This represents a 19.2 per cent decrease compared to the 6,402 homes listed in September 2020 and a 28.2 per cent increase compared to August 2021 when 4,032 homes were listed. 

September’s new listings were 1.2 per cent below the 10-year average for the month. 

“The summer trend of above-average home sales and historically typical new listings activity continued in Metro Vancouver last month. Although this is keeping the overall supply of homes for sale low, we’re not seeing the same upward intensity on home prices today as we did in the spring,” Keith Stewart, REBGV economist said. “Home price trends will, however, vary depending on property type and neighborhood, so it’s important to take a hyperlocal look at your location and property category of choice before making a home buying or selling decision.” 

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,236. This is a 29.5 per cent decrease compared to September 2020 (13,096), a 2.6 per cent increase compared to August 2021 (9,005) and is 27.7 per cent below the 10-year average for the month. 

For all property types, the sales-to-active listings ratio for September 2021 is 34.1 per cent. By property type, the ratio is 25.5 per cent for detached homes, 53.1 per cent for townhomes, and 36.7 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 total inventory of homes for sale remains insufficient to meet the demand in today’s market. This scarcity limits peoples’ purchasing options and ultimately adds upward pressure on home prices,” Stewart said. “With the federal election now behind us, we hope to see governments at all levels work with the construction industry to streamline the creation of a more abundant and diverse supply of housing options.” 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $ 1,186,100. This represents a 13.8 per cent increase over September 2020 and a 0.8 per cent increase compared to August 2021. 

Sales of detached homes in September 2021 reached 950, a 27.9 per cent decrease from the 1,317 detached sales recorded in September 2020. The benchmark price for a detached home is $1,828,200. This represents a 20.4 per cent increase from September 2020 and a 1.2 per cent increase compared to August 2021. 

Sales of apartment homes reached 1,621 in September 2021, a 1.6 per cent increase compared to the 1,596 sales in September 2020. The benchmark price of an apartment home is $738,600. This represents an 8.4 per cent increase from September 2020 and a 0.5 per cent increase compared to August 2021. 

Attached home sales in September 2021 totalled 578, a 20.8 per cent decrease compared to the 730 sales in September 2020. The benchmark price of an attached home is $963,800. This represents a 17.5 per cent increase from September 2020 and a 1.2 per cent increase compared to August 2021.

Download the September 2021 stats package.

Classic European inspired executive home on 1 acre stand alone lot offering privacy & peaceful environment not far from the bustle of city life. Situated on a gently sloping lot on the prestigious Uplands Drive that offers many benefits including sweeping mountainside views, private forest pathways, low outdoor maintenance & with French doors leading to huge outdoor decks for entertaining you will not know there are neighbors nearby. Encompassing features like indoor & inground sprinklers, aircon & heat pump, large master suite with walk in closet & cozy fire, custom fitted window blinds, elegant moldings, beautiful wooden floors & walk out basement with 9ft ceiling, private balcony 2 bdrms & oversized rec room pre plumbed/wired for kitchen installation/suite potential.

https://www.dropbox.com/s/rgbw4ba46fzhh8c/1065%20Uplands%20Dr%2C%20Anmore.mp4?dl=0