A NEW HOME for a NEW YEAR!

Welcome to Churchill Park Gated 55+Complex.

This lovely duplex town home has had many updates through the years. Elegant living & dining room with valued ceilings + hardwood flooring. Living room with gas fireplace.

Family room with vaulted ceiling + gas fireplace & sliders to patio.

Kitchen with wood cabinets, lots of easy glide drawers+pantry+centre island+granite counter tops.

Main floor primary bedroom with walk-in closet.

5-piece ensuite+storage under stairs. Laundry room on main.

2 bedrooms up, 1 with cheater door to main bath.

Newer windows & windows coverings. Lots of windows to let in the natural light.

Double garage.

Great club house with seasonal pool & hot tub.

Exercise room, large party area with fireplace/pool table/library&kitchen

Winters in Canada can be cold and dark, and just like us, our delicate plants – indoor and outdoor plants alike – need some special attention this time of year. So, show your plants a little TLC this winter by giving them a warm, dry place to wait out the cold weather until spring. 

Follow this list of helpful tips to keep your plants happy and healthy through the winter months.

• Keep it bright. Expose your plants to as much sunlight as possible by keeping them by a window. Remember, days are shorter in winter so they need all the natural light they can get. If you see your plants struggling, you may need to move them to maximize exposure.
• Keep them warm. Avoid cold and drafty areas of the house where your plants risk getting frostbite. If it gets too cold overnight, you may need to move your plants away from the window.
• Avoid extreme heat. If placed near a heater or a fireplace, your plants can dry out. It’s best to keep them in a room where the temperature doesn’t fluctuate too much. If necessary, run a humidifier to add moisture back into the air. 
• Cut down on water. Most plants require less hydration in the winter as they enter a hibernation period. The same rule applies for fertilization – feel free to skip the fertilizer for healthy plants, or dilute with water for those that need a little extra help. 
• Avoid the urge to repot your plants. They will not be growing much during the winter months, and it’s best to keep them in a stable environment until spring.
• Clean and prune. Gently wipe down the leaves and trim them back before bringing outdoor plants in for the season.

If you are looking to open up a small space to give it a feel that is bigger than it’s footprint, these tested tips are for you. They work in any room and within any budget.

• Use light colours on the walls to create a sense of openness and space. White is an excellent choice but you won’t sacrifice much of the illusion by selecting a light colour, if that is your preference. Conversely, dark or heavily saturated colours close in a room, giving it a smaller, cozy feel.
• Create the illusion of more space with a mirror or two. Adding a large mirror, whether it is floor to ceiling or a framed piece over a couch or table, is highly effective.
• Swap out curtains for hidden blinds and say good-bye to your rug. Elements that break up the space will make the room seem smaller. This is especially true of longer curtains. Those vertical lines shorten the appearance of your wall. An exception is if your curtains are an exact match to the paint colour, such as white on white walls or if you select more sheer material that allows the eye to see past the fabric. 
• When it comes to furniture, less is more. If a room feels crowded with furniture, you notice the lack of space. It is worth removing a chair that doesn’t get used to improve the look of your room. 
• Choose apartment-sized furniture. With consistent and growing demand from condo living, there are excellent options to choose from at a variety of price points. You don’t need a supersized couch to feel comfy.
• Choose furniture that allows for the eye to see as much of the space behind the piece as possible. If it works for your décor, consider a glass coffee or dining table. Try to avoid chairs where material covers the legs of the chair. Clear resin is a great choice if the room has a contemporary design.

Following these tips are the best way to make any space seem larger and there is no need to sacrifice on style. Have fun decorating!

Condo living can have its perks – there are often on-site amenities to enjoy, building maintenance is taken care of, and you can experience the full benefits of a bustling urban lifestyle. Yet, one of the common gripes of condominium and apartment living is limited storage options, which can make it tricky to store your things. Luckily, there are a few solutions you can try to make the most out of the space in your condo suite.

Whether you’re looking to tuck away your holiday decorations, suitcases or off-season clothing, here are a few storage solutions you can try in your condo today. 

Opt for furniture with integrated storage

Double up on your storage options by investing in multi-functional furniture that has built-in storage space. There are a variety of ottomans, coffee tables, sofas and beds out there that provide hidden storage units and drawers, which can make storing your belongings easy and discreet. Similarly, you can opt to tidy away your things in bins and containers that can fit underneath your furniture so that extra items can be stored away out of sight. 

Bonus tip: Opt for furniture pieces that are lightweight or have wheels on the base so they can be easily moved around depending on the needs of your space. You can also invest in convertible furniture — a sofa that turns into a bed, or a work desk that can be folded up against a wall — to allow for more efficient use of your limited square footage. 

Make the most of vertical space 

When it comes to condo storage, blank and tall walls are your best friend. If your unit has limited floor space, utilize your walls to provide you with extra storage when you need it. This can be as simple as installing a few extra wall hooks for hanging coats, bags and kitchen utensils, or investing in some bookshelves for displaying your favourite collectables, artwork and framed photos. Think of unconventional vertical space too, such as doors or the insides of cupboards where caddies and over-door organizers can be hung. 

Introduce built-ins on the wall

Sometimes adding a wall hook or two isn’t enough to offer the extra storage space that you really need. Opting for a more customized approach through the use of built-in wall compartments and shelves can provide storage options that are specific to your condo’s unique size and layout, while improving overall functionality. Wall-to-wall and floor-to-ceiling built-ins in your living room, entryway and bedroom not only take full advantage of useful wall space, but also introduce seamless and integrated storage options to any room.

Use smart containers

When every inch of storage space counts, there’s no room – quite literally – to carelessly tidy away your things. By strategically choosing the right containers or bins, you can maximize the amount of storage space you can squeeze out of your condo. For example, stackable containers can more effectively utilize vertical space in your kitchen cupboards and bathroom vanities. Vacuum sealed bags are great for storing coats, bedding and other bulky linens in small spaces. Clear containers are also convenient for easily finding your supplies without having to open every lid or box. If the bins are not transparent, stick labels on the outside for convenience. 

Bonus Tip: When in doubt, consider off-site storage

Maybe you’ve decluttered and reorganized to your heart’s content, but still can’t find enough space for everything in your condo. Don’t underestimate off-site storage as an option. Sometimes we simply can’t find a solution to storing awkwardly-sized or heavy items. On-site condo lockers or paid storage units are a great alternative for locking away large belongings that aren’t used on a regular basis, such as off-season sports gear, balcony furniture, large tools and bicycles. 

Are you searching for the perfect gift for someone who has recently purchased a house or condo? With the holidays around the corner, now is the perfect time to give the new homeowner in your life something they’ll truly love and appreciate. Whether you want to splurge, buy something small, or give a group gift, this list has options for every budget.

Wooden cutting board

This is a popular gift, and for good reason. They come in many different sizes, shapes and materials, and can be used for food preparation or for serving charcuterie and other appetizers. Take it one step further and get the board monogrammed with the homeowner’s name.

Mini coffee maker

A modern mini espresso machine, milk frother, or coffee maker is always a great addition to any coffee-lover’s kitchen. And, there are so many unique styles and colours to choose from. Pick something that matches their personality.

Dutch oven

Today, every kitchen needs a dutch oven. This large quart pan/pot can be used for almost any type of baking, cooking, braising or roasting. With dozens of colours and sizes to choose from, a dutch oven can be kept on the stovetop as an accent piece in the kitchen.

Pantry stocker gift basket or subscription to a prepared meal service

Moving is a huge undertaking, and it can take months to feel settled and get into a routine. A subscription to a prepared meal service, or a gift basket filled with non-perishable essentials, dried goods and snacks can be a big help to a new homeowner in those first weeks after moving.

Drink coasters

New home likely means new furniture. It may not be at the top of the priority list, but any new homeowner will appreciate a set of coasters to help prevent drink rings on table surfaces. These don’t have to be boring. Pick up a set of coasters that look great on display and can enhance the decor of a room.

Scented candles and soaps

There’s nothing like a warm and inviting scent to make a place truly feel like home. Gift a new homeowner a scented candle for the living room, or a luxurious soap and moisturizer set for the guest bathroom. They are sure to appreciate items that they wouldn’t necessarily buy for themselves.

Bluetooth speaker

Having a speaker in every room, including the bedroom and bathroom, is a great way to listen to music, podcasts or audible books. Whether they’re folding laundry or making meals, the new homeowner on your list will love this gift!

Welcome mat

A new homeowner wants their place to feel warm and welcoming to guests. An indoor or outdoor welcome mat is a great way to make a front entrance feel inviting. As an added touch, get it personalized with a family name, address or custom message to elevate the look of their front door.

A gift card is always appreciated

Getting settled into a new place comes with a long list of expenses, from essentials to nice-to-haves. Giving a little something to help with those purchases will always be appreciated. Don’t be afraid to simply give a gift card to the new homeowner’s favourite home store, and pair it with some gourmet treats or a bottle of bubbly to celebrate.

Whatever you decide to give your friends or family, a huge congratulations on their accomplishment and sharing in their joy is likely the best gift you can give.

A NEW HOME for a NEW YEAR! Welcome to Churchill Park Gated 55+Complex.

This lovely duplex town home has had many updates through the years. Elegant living & dining room with valued ceilings + hardwood flooring.

Living room with gas fireplace. Family room with vaulted ceiling + gas fireplace & sliders to patio.

Kitchen with wood cabinets,lots of easy glide drawers+pantry+centre island+granite counter tops.

Main floor primary bedroom with walk-in closet.5-piece ensuite+storage under stairs.

Laundry room on main.

2 bedrooms up, 1 with cheater door to main bath.

Newer windows & windows coverings.Lots of windows to let in the natural light.

Double garage.

Great club house with seasonal pool & hot tub.Exercise room, large party area with fireplace/pool table/library&kitchen.

Easy to show.

http://www.listings.360hometours.ca/15861

If you’ve invested any money into your garden, you know how important it is to protect your investment from the inevitable cold snaps of our Canadian winter.

How do you ensure you’ll still have a beautiful yard full of life come spring? It starts with giving our plants some much-needed TLC, even during the cooler months. Here’s how:

1. Know the Forecast

When it comes to garden maintenance, you have to be proactive. Stay up to date with the forecast in your area to find out when frost will hit and check the weather forecasts daily once the colder temperatures arrive.

2. Get to Know Your Plants

Plants react differently to various levels of freeze. Most plants will suffer damage when the temperatures drop to below –4C for several hours. Between –4C and –2C is considered a hard frost and can kill root-hardy perennials if it lasts for several hours.

3. Cover Your Plants

After determining what plants need protection, head to your local garden centre to stock up on burlap for wrapping. The idea is to build a tent over the plant while not letting the cover actually touch the plant. Remember, air still needs to be able to circulate around it. Finally, weigh down the sides so they don’t blow open.

The freezing temperatures and shorter days of winter may seem like good excuses to stay indoors. 

But, believe it or not, your outdoor space can be a great place to spend time during the winter. All you need is a bit of ingenuity and planning to embrace the cold and snow.

Try some of these tips to enjoy your outdoor living space this winter:

Enclose Your Patio Space

If your patio space isn’t already covered, the first step to creating a winterized outdoor space is to protect it from the elements. Investing in a gazebo or pergola will help keep snow off of your furniture and reduce the need for shovelling.

Create an Ambiance

Braving the cold may not seem like such a big deal when you dress your space with twinkling string lights, beautiful winter urns filled with birch and pine, and cosy throw blankets.

Add Some Heat

Take the bite out of the cold by adding a few heat sources to your patio. Hang heat lamps from an overhead structure or place floor heaters around at a safe distance from patio furniture. Propane fire pits, outdoor fireplaces, and fire tables provide warmth and instant ambiance!

Entice with Food

Take outdoor entertaining to a new level by investing in an outdoor pizza oven or smoker. You can even embrace your summer tradition of barbequing in the winter by positioning a heat source near your grill for a unique winter dining experience.

Bold Comfort: Mix-and-match pillows in bold patterns and textures create an inviting space.

Texture has always had an influence on interior design. Today’s trending fabrics are bolder and make more of a statement than ever before, adding a luxurious yet cosy feel to any living space.

Inviting textures such as boucle, felt, matte velvet and natural linen is a great way to embrace this latest design craze while creating the comforting feeling we all crave in the winter months.

If you’re looking to level up your design motif this winter, here are some creative ways to embrace this sensory-driven trend for a modern, livable home.

Mix-and-Match Pillows

Layering pillows is an effortless way to add texture without having to break the bank on large furniture items. Create an Instagram-worthy look by combining rich leather cushions with crocheted lumbar pillows. Embrace shams with varying textures and elaborate fringe. Better yet, add a boucle pouf to the floor for a piece that can double as extra seating.

Layer Rugs

Rugs are one of the easiest ways to transform the look of a room. Natural fibres like jute and sisal are fantastic options for high-traffic areas. Plus, their neutral colours will stand up to your changing décor. You can also add an elaborate area rug to rooms that are already carpeted. An ornamental rug under a bed frame or a braided mat under a coffee table can really elevate a space.

Embrace Textured Art

Three-dimensional art is trending. Artists are increasingly mixing mediums to create sculpture-inspired wall art to make a modern statement. The best part? These pieces can be easily DIY’d using drywall mud, a framed canvas, and a palette knife set.

Looking for more design ideas? We’ve got you covered. Our blog features interior design trends, home improvement projects, and homeowner advice that will enhance your life and investment, visit blog.royallepage.ca.

SURREY, BC – The Fraser Valley real estate market continues to cool heading into the holiday season as buyers and sellers maintain the holding pattern seen over the latter half of this year.

The Fraser Valley Real Estate Board recorded 891 transactions on its Multiple Listing Service® (MLS®) in November, a drop of 8 per cent from the previous month, representing the 9^th slowest November in a decade.

At 2,030 new listings also fell again, decreasing by 20 per cent from October and by 43 per cent since peaking in May at 3,533.

“As we head into the holiday season, buyers and sellers are busy with other priorities and will most likely continue to wait on the sidelines,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “We anticipate this holding pattern, defined by slow sales and declining new listings, will continue through the winter months until we see some downward movement in interest rates.”

Active listings in November were 6,254, down by 5 per cent over last month and up by 17 per cent over November 2022. The sales-to-active listings ratio was 14 per cent, creating balanced conditions in the overall market. Detached houses are in balanced market territory at 12 per cent, while both townhomes and apartments remain in seller’s market territory. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“With seasonality and high interest rates continuing to dampen sales activity, we expect to see sales slow further into early 2024,” said FVREB CEO Baldev Gill. “However, even a slow market can present opportunities, and buyers would be well-advised to work with a knowledgeable, professional REALTOR® who can provide expert advice and guidance.”

On average, properties spent approximately one month on the market, with single family detached homes spending 36 days on the market, and townhomes and apartments moving more quickly at 29 days.

Overall Benchmark prices continued to slide for the fourth month in a row, losing 1.1 per cent compared to October.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,489,100, the Benchmark price for an FVREB single-family detached home decreased 0.94 per cent compared to October 2023 and increased 6.22 per cent compared to November 2022.
• Townhomes: At $837,200, the Benchmark price for an FVREB townhome decreased 0.95 per cent compared to October 2023 and increased 5.08 per cent compared to November 2022.
• Apartments: At $545,300, the Benchmark price for an FVREB apartment/condo decreased 0.02 per cent compared to October 2023 and increased 5.60 per cent compared to November 2022.

To read the full statistics package, click here.

REAL VS. FAKE CHRISTMAS TREES: WHICH IS BETTER? 

By Meaghan Weeden 

We spend a lot of time talking about the benefits of trees and why you shouldn’t cut down trees, but you may be wondering, what about about Christmas trees? Are Christmas trees eco-friendly? Are real Christmas trees better for the environment? Or is it better to purchase a fake Christmas tree to save the real trees from being cut down?

We’re here to alleviate these concerns for all Christmas-loving environmentalists by answering this question and more. And if you want to further reduce your environmental impact this holiday season, you can also check out our tips for a sustainable holiday!

ARE FAKE CHRISTMAS TREES BAD FOR THE ENVIRONMENT?

Artificial trees can last many years if well cared for, which seems to make them the obvious sustainable choice, but they do have drawbacks. Because most are made with plastic and metal materials, they take a lot of resources to create — and their plastic components will exist for thousands of years, polluting our oceans and filling the bellies of sea turtles. 

Often produced and shipped from China, they also have a hefty carbon footprint— to the tune of up to 88lbs of CO2 per artificial tree, which is over 10X higher than that of a sustainably grown, properly recycled real Christmas tree.

In fact, you would have to keep your fake Christmas tree for at least 10 years for it to have the same carbon impact as using a real tree each year — and that isn’t considering the environmental damage artificial trees cause as they slowly break down in a landfill. And let's be real: the likelihood of them staying nice enough to keep for 10 years is low.

On the coldest winter days, nothing beats getting cozy next to a warm, crackling fireplace. Like any major appliance in your home, a fireplace – whether gas or wood-burning – needs seasonal maintenance to prepare it for frequent usage when outside temperatures drop.

Here’s how you can prepare your home’s fireplace for the upcoming winter months:

If you have a wood-burning fireplace:

• Inspect your chimney inside and out for damage. Look for any cracks, crumbling mortar or signs of deterioration that could hamper your chimney’s structural integrity.

• Get a professional chimney sweep to clear out any built-up soot or debris. Doing this at least once per year can help prevent chimney fires.

• Install a chimney cap to keep out any critters. By installing a chimney cap, wildlife, rain and tree debris will have a harder time traveling into your fireplace.

• Trim trees and overhanging branches around your chimney. This will help to prevent fires, as well as any damage to your chimney cap from falling tree limbs.

• Check the mechanical parts of your fireplace to ensure that they are working properly. This includes the damper, the mechanism that controls air flow to the chimney, and the blower, which pushes heat from the fireplace into the room. Be sure to also inspect your fireplace’s gasket to confirm that there is no smoke escaping into your living space.

• If you’re clearing out piles of ash from the bottom of your fireplace, don’t be tempted to use your vacuum cleaner. This can damage your appliance and send ash shooting into the air. Instead, scoop out the ash by hand with a small shovel and dispose of it in the compost bin.

If you have a gas fireplace:

• Schedule an inspection with a professional technician to do a thorough examination of your fireplace before the first use of the season.

• Inspect the pilot light to confirm that it is switched on and that you have a good connection to your gas feed. If you are reopening your gas line and relighting your pilot for the first time this season, monitor your pilot light during the first use to ensure that it functions as normal.

• Read your manufacturer’s manual to review the operation of your fireplace. It never hurts to refresh your knowledge of the mechanics and functions of your fireplace before you use it for another season.

Regardless of the type of fireplace in your home, you should always clean and dust your unit regularly and especially before the first use of the season. This is also a great time to test your home’s smoke alarms and carbon monoxide detectors.

A lush lawn and blooming flower beds are the pride and joy of many homeowners. Canada’s harsh winters, however, can quickly squash the hard work you’ve put into nurturing and maintaining your outdoor spaces during the summer months. To ensure that your backyard gets off to a good start when spring arrives, a little prep work before the snow hits can do a world of good.

Help prepare your lawn and garden for colder weather this year by following these winterization tips.

Care for your annuals and perennials

When it comes to winterizing your garden beds, show your plants and flowers some love. Start by removing any annuals (plants that are only around for one growing season, such as sunflowers, tomatoes and varieties of lettuce). Removing annuals will rid your beds of lingering bacteria, and prevent any potential pests or diseases from building up during the winter.

For your perennial plants, give them a healthy trim back and a final water before the end of the season. Perennials with large and dense roots can be cut and divided into smaller plants to support better regrowth in the spring.

Bring delicate plants, such as succulents or potted bulbs, indoors to prevent frost damage. Cover any shrubs or plants that can’t be moved inside with landscape fabric or burlap to protect them from harsh weather conditions.

Get down in the dirt

Just like your plants, your soil also needs some help preparing for the winter ahead. Remove any weeds, dead plant debris and buried root vegetables from your soil before the first hard frost sets in. Spread mulch over your soil and around the base of trees to provide a protective layer from frost and a barrier that will help to keep moisture and temperature levels consistent for your plants. When cleaning up your soil, you may also want to consider planting bulbs for the following spring, such as crocus, tulips and daffodils.

Show your lawn a little TLC

The ground gets compacted and cold during the winter, which can make it difficult for lawns to recover post-thaw. Help your lawn out by aerating it in the fall to loosen soil and ensure better drainage. Instead of raking all of the tree leaves off of your lawn, cut your grass long — approximately two to three inches high — and leave a layer of shredded leaves on top. Mowing the leaves into tiny pieces will allow your lawn’s soil to absorb nutrients from the fallen debris more efficiently while still letting light and moisture through. In low-traffic areas where your lawn is patchy and damaged, overseed in the early fall for best results in the spring.

Add a boost of nutrients

As your garden prepares for hibernation, it helps to give your outdoor greens some needed nourishment.

If you have a compost bin, sprinkle this material on your flower beds to help them replenish their nutrients post-winter, and top up your bin with any leaves, grass clippings or debris from your winterization clean up. You can give your lawn a final dose of sustenance too with the help of special winter grass fertilizer that contains nitrogen and potash.

Not all of your fallen leaves have to end up in paper bags. Instead, add mulched leaves to your perennial flower beds and vegetable gardens as an insulating layer and a source of valuable nutrients for the soil.

Despite softening activity, Canada’s winter recreational property market is expected to see price gains in 2024

Nationally, median house price forecast to rise 2.9% in 2024 as interest rates are expected to stabilize or moderate

Federal Government pledges more funding for affordable housing

What does it mean for the average Canadian?

On November 21st, the Government of Canada unveiled its 2023 Fall Economic Statement, an annual fiscal report that provides an update on the state of the Canadian economy and the government’s plans for future spending. The report – acutely focused on Canada’s housing affordability and supply crisis – announced new funding for the creation of more affordable housing and purpose-built rental units. New rules regarding the mortgage stress test were also unveiled. 

For Canadians planning to buy a home or rent a property in the near future, these initiatives will lead to the creation of some much-needed housing supply in some of the country’s most expensive regions.  

Here’s what you need to know about housing initiatives announced in the 2023 Fall Economic Statement:

The Canadian Mortgage Charter – Since interest rates started to rise in March 2022, many variable-rate mortgage holders have faced fast-rising monthly payments and, in some cases, negative amortization as interest payments outpace their mortgage principal. Thousands of Canadians will also be required to renew their mortgage at a much higher interest rate in the next two years compared to the ultra-low rates offered during and just prior to the pandemic. In light of these financial challenges, the federal government has put forward new measures for financial institutions to provide Canadian borrowers with mortgage relief options. 

The Charter includes:

• Permitting temporary extensions of mortgage amortizations
• Waiving fees that would have previously applied for relief measures
• Dropping the requirement for insured mortgage holders to requalify under the insured minimum qualifying rate (stress test) when switching lenders at the time of their mortgage renewal
• Requiring lenders to contact homeowners four to six months prior to their mortgage renewal to inform them of their financial options
• Giving homeowners at risk the ability to make lump sum payments to avoid negative amortization, or sell their principal residence without any prepayment penalties
• Waiving interest on interest in the event that mortgage relief measures result in a temporary period of negative amortization

New funds for affordable housing – In an effort to build more homes faster, the federal government has pledged billions of dollars in spending towards the creation of affordable and purpose-built rental housing. An additional $1 billion will be allocated over three years to non-profit, co-op, and public housing providers through the Affordable Housing Fund to build more than 7,000 new homes by 2028. The Co-operative Housing Development Program will also receive nearly $310 million in new funding. 

Incentives for apartment builders – To encourage the creation of much-needed rental housing, the 2023 Fall Economic Statement outlines new funding for home builders. Starting in 2025-2026, the federal government says it has committed an additional $15 billion in funding for the Apartment Construction Loan Program, which provides low-cost financing to builders and developers. This top-up will support the creation of more than 30,000 additional new homes across Canada, bringing the government’s total goal to 101,000 new homes by 2031-2032. 

Tax limitations on short-term rentals – With the demand for long-term housing options so high across Canada, the federal government is placing stricter measures on short-term rentals in the hopes of encouraging property owners to list their homes for sale or for longer leasing periods. The 2023 Fall Economic Statement introduced $50 million in funding over three years to support municipal enforcement of restrictions on short-term rentals. Additionally, income tax deductions for expenses incurred on short-term rental income will be denied in provinces and municipalities that have banned short-term rentals. This will also apply to short-term rental operators who are not compliant with provincial or municipal licensing, permitting, or registration requirements.

Want to know more about the 2023 Fall Economic Statement? Read the full report here.

Balanced conditions come to the Metro Vancouver housing market for the holiday season

With one month left in 2023, a steady increase in housing inventory is offering home buyers across Metro Vancouver¹ among the largest selection to choose from since 2021.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales² in the region totalled 1,702 in November 2023, a 4.7 per cent increase from the 1,625 sales recorded in November 2022. This was 33 per cent below the 10-year seasonal average (2,538).

“We’ve been watching the number of active listings in our market increase over the past few months, which is giving buyers more to choose from than they’ve been used to seeing over the past few years,” Andrew Lis, REBGV’s director of economics and data analytics said. “When paired with the seasonal slowdown in sales we typically see this time of year, this increase in supply is creating balanced conditions across Metro Vancouver’s housing market.”

There were 3,369 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2023. This represents a 9.8 per cent increase compared to the 3,069 properties listed in November 2022. This was 2.8 per cent below the 10-year seasonal average (3,464).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 10,931, a 13.5 per cent increase compared to November 2022 (9,633). This is 3.7 per cent above the 10-year seasonal average (10,543).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for November 2023 is 16.3 per cent. By property type, the ratio is 12.7 per cent for detached homes, 19.8 per cent for attached, and 18.2 per cent for apartments.

Analysis of the historical data suggests 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.

“Balanced market conditions typically come with flatter price trends, and that’s what we’ve seen in the market since the summer months. These trends follow a period where prices rose over seven per cent earlier in the year,” Lis said. “You probably won’t find Cyber Monday discounts, but prices have edged lower by a few per cent since the summer. And with most economists expecting mortgage rates to fall modestly in 2024, market conditions for buyers are arguably the most favorable we’ve seen in some time in our market.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,185,100. This represents a 4.9 per cent increase over November 2022 and a one per cent decrease compared to October 2023.

Sales of detached homes in November 2023 reached 523, a seven per cent increase from the 489 detached sales recorded in November 2022. The benchmark price for a detached home is $1,982,600. This represents a 6.8 per cent increase from November 2022 and a 0.9 per cent decrease compared to October 2023.

Sales of apartment homes reached 850 in November 2023, a 0.4 per cent increase compared to the 847 sales in November 2022. The benchmark price of an apartment home is $762,700. This represents a 6.2 per cent increase from November 2022 and a one per cent decrease compared to October 2023.

Attached home sales in November 2023 totalled 316, a 12.5 per cent increase compared to the 281 sales in November 2022. The benchmark price of a townhouse³ is $1,092,600. This represents a 6.9 per cent increase from November 2022 and a 0.7 per cent decrease compared to October 2023.

Download the November 2023 stats package.