MARIE & KIM TAVERNA

Direct : 604-802-7759 |  

June 2, 2020

Home prices remain steady, buyers and sellers become more comfortable operating in today’s market


Metro Vancouver home prices have remained steady since provincial health officials implemented physical distancing requirements in March.


The Real Estate Board of Greater Vancouver (REBGV) reports that the MLS® Home Price Index1 composite benchmark price for all residential properties in Metro Vancouver today is $1,028,400. This is virtually unchanged from April 2020, a 1.4 per cent increase over the last three months, and a 2.9 per cent increase compared to May 2019.


"Home prices have been stable during the COVID-19 period," Colette Gerber, REBGV Chair said. "While we’re seeing a variety of long-term projections for the market, it's critical to understand the facts and trends as they emerge."


Residential home sales in the region totalled 1,485 in May 2020, a 43.7 per cent decrease from the 2,638 sales recorded in May 2019 and a 33.9 per cent increase from the 1,109 homes sold in April 2020.


Last month’s sales were 54.4 per cent below the 10-year May sales average.


"Home sale and listing activity is down compared to typical, long-term levels and up compared to the activity we saw in April 2020," Gerber said. "Home buyers and sellers are adapting today, becoming more comfortable operating with the physical distancing requirements that are in place in the market." 


There were 3,684 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2020. This represents a 37.1 per cent decrease compared to the 5,861 homes listed in May 2019 and a 59.3 per cent increase compared to April 2020 when 2,313 homes were listed. 


"Home buyers and sellers are working with their REALTORS® to use new tools to complete different stages of the real estate transaction virtually," Gerber said. “When in-person interactions are necessary, we’re working with our clients to follow the physical distancing requirements set out by WorkSafeBC and the provincial health officer." 


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,927, a 32.4 per cent decrease compared to May 2019 (14,685) and a 5.7 per cent increase compared to April 2020 (9,389).


For all housing types, the sales-to-active listings ratio for May 2020 is 15 per cent. By housing type, the ratio is 13.5 per cent for detached homes, 18.9 per cent for townhomes, and 14.8 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 and benchmark prices by property type


Sales of detached homes in May 2020 reached 534, a 41.5 per cent decrease from the 913 detached sales recorded in May 2019. The benchmark price for detached properties is $1,456,700. This is a 0.3 per cent increase from April 2020, a 2.2 per cent increase over the past three months, and a 2.9 per cent increase compared to May 2019.


Sales of apartment homes reached 653 in May 2020, a 47.6 per cent decrease compared to the 1,246 sales in May 2019. The benchmark price of an apartment home is $686,500. This is a 0.3 per cent decrease from April 2020, a 0.9 per cent increase over the past three months, and a three per cent increase compared to May 2019.


Attached home sales in May 2020 totalled 298, a 37.8 per cent decrease compared to the 479 sales in May 2019. The benchmark price of an attached home is $792,700. This is a 0.2 per cent increase from April 2020, a 1.2 per cent increase over the past three months, and a 1.8 per cent increase compared to May 2019.


Download the May 2020 stats package

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The price of a home in Canada increased 2.2% in Q4 2019

 
 
 

According to the Royal LePage House Price Survey1, the aggregate price of a home in Canada increased 2.2 per cent year-over-year to $648,544 in the fourth quarter of 2019. Similar to the third quarter, potential buyers are continuing to come back to the real estate market. In the first half of 2019, buyers had remained largely at the sidelines waiting to gauge the potential impact of the federal mortgage stress test.

"The federal government has signaled that changes could come to the mortgage stress test mechanism in 2020," said Phil Soper, president and CEO, Royal LePage. "The stress test pushed people out of real estate markets across Canada temporarily. For the most part, buyers have adjusted, yet it still represents a significant hurdle as families pursue the dream of owning their own home."

Soper added that the impact of the regulations-driven drop in demand is felt very differently in different parts of the country.

"We believe policy makers have the necessary experience to modify the tool to meet the reality of today's Canada – that we have very different and varied economies, and by extension housing policy needs, from region to region," said Soper.

The Royal LePage National House Price Composite is compiled from proprietary property data in 64 of the nation's largest real estate markets. When broken out by housing type, the median price of a two-storey home rose 2.3 per cent year-over-year to $761,817, while the median price of a bungalow increased modestly by 0.7 per cent to $537,622.

Across Canada, condominiums remained the fastest appreciating housing type, with the median price rising 3.3 per cent year-over-year to $487,525. Largely, condominium data is weighted towards the country's largest urban centres where the majority of them are found. The median price of a condominium rose 7.8 per cent year-over-year to $565,919 in the Greater Toronto Area and 4.4 per cent year-over-year in the Greater Montreal Area to $338,148 during the fourth quarter. However, national price gains were offset by year-over-year declines in Greater Vancouver's real estate market where the median price of a condominium decreased 3.4 per cent to $645,607.

For more regional analysis, visit rlp.ca/mediaroom.

To view the chart with aggregated regions and markets visit rlp.ca/houseprices.

1 Aggregate prices are calculated using a weighted average of the median values of all housing types collected. Data is provided by RPS Real Property Solutions.

 
 
 

Spring cleaning 101

 
 
 

During the winter thaw, indoor upkeep is as important as prepping your garden for spring. Freshen rooms, remove allergens, and brighten the look of these five areas:

 
  infographic  
     
   
 
 

Moving out? Try these packing tips

 
 
 

Protect. Important papers and belongings with sentimental value should be collected and set aside. Paint and chemicals can be hazardous to box and put on a moving truck. Designate a special area to store these items as it is best to transport them yourself, if possible.

Prioritize. Don't make the mistake of letting everything get loaded on the truck in a random order. Even if you label

   
 

the boxes, there's no guarantee the items you need first will be accessible once your movers are done. Mark them as "last on/first off." These would include bed linens and pillows, kitchen supplies, dishes, cups and cutlery, and bathroom necessities.

Label. Take the extra step of using coloured labels or stickers to mark which ones are priority for unpacking. This will help you get started after you're in your new place. Also, when wrapping delicates, put a piece of coloured tissue paper around smaller items. This will prevent you from accidentally tossing something tiny when you're unwrapping bigger breakables.

Secure. Even if you're moving liquids yourself, create an extra barrier by sealing them with plastic wrap, then securing lids and caps tightly on top. This tip can prevent spillage onto more expensive items.

Enjoy your new home by making unpacking as stress-free as possible!

 
     
   
 
 

Savings for summer

 
 
 

Now's the time to prevent costly repairs and energy leaks. Take time to examine your home's exterior and you'll save this summer, once the heat hits.

Roof and gutters. Clean drains, gutters, and downspouts to keep those April showers from pooling near your foundation. Replace missing or loose shingles and check for any damage that may spread or cause weakness.

   
 

Windows and doors. Check that seals are tight and there are no cracks, tears, or gaps in caulking or weather-stripping that allow your refrigerated air to escape.

Dryer vent. Keep the airway clear by temporarily removing the vent cover located outside the house, vacuum all debris.

AC unit. Turn off the power to the outside unit, then get it ready to handle the summer workload. Clear away any plant or weed growth. Hose off or vacuum the condenser's sides. If you haven't had an inspection for a season or two, call your local HVAC professional to check parts and connections.

A few tiny efforts can make a world of difference for your energy bill and maximize efficiency.

 
     
   
 
 

Sahara Desert Challenge for Shelter raises record-setting $1.1 million!

 
 
 

One hundred and twenty Royal LePage professionals recently journeyed to Morocco from communities across Canada to participate in the Sahara Desert Challenge for Shelter. Over five days, they hiked more than 100 kilometres across hard and rocky terrain, supporting each other along the way. They climbed sand dunes hundreds of metres high and withstood hours of walking in blistering heat. At night, the temperatures dipped to near freezing

   
 

while they slept restlessly in their tents, their bodies aching from the effort. The physical and emotional strain put on the trekkers was immense, but it couldn't compare to what women and children escaping domestic violence experience – the very women and children who were the driving force behind this adventure.

To participate in the Sahara Desert Challenge for Shelter, each trekker committed to raise at least $5,000 for the Royal LePage Shelter Foundation and cover their own travel and trekking expenses. To the amazement of Foundation staff, this outstanding group of fundraisers blew past their fundraising goal, ultimately raising $1,136,000! Eighty percent of the funds raised were directed to emergency women's shelters and transition houses across Canada. The remaining twenty percent will fund prevention and education programs aimed at breaking the cycle of family violence.

"The Sahara Desert Challenge for Shelter is an outstanding example of how Royal LePage professionals come together to support their local communities,"says Shanan Spencer-Brown, Executive Director, Royal LePage Shelter Foundation. "The trekkers put in considerable time and effort to fundraise, prepare by hiking long distances at home, and then travel across the world to take part in the Challenge. Across Canada, many other Royal LePagers made donations to support the cause. It was truly a team effort."

The three Challenge for Shelter treks in support of the Royal LePage Shelter Foundation (Machu Picchu, Iceland and Sahara Desert) have now raised $2.3 million. To view a collection of photos from the most recent adventure, please visit rlp.ca/saharaforshelter.


12th Annual National Garage Sale for Shelter
Saturday, May 9, 2020


Mark your calendars!
Held at Royal LePage offices and on front yards and driveways across Canada, the National Garage Sale for Shelter raises critical funds for local women's shelters that offer safety and support to thousands of women and children fleeing domestic violence each year.

Since 2009, the National Garage Sale for Shelter has raised over $3 million for women's shelters across the country. Because Royal LePage Canada covers the foundation's administrative costs and sponsors underwrite event expenses, 100% of all funds raised go directly to this important cause.

How can you help?
Please donate gently used items to a participating Royal LePage office and visit the National Garage Sale for Shelter in your community to shop for great deals and unique treasures. You'll be helping women and children escape abuse and create a future that is safe and full of hope.

For more information, please contact the Royal LePage office in your community or email shelterfoundation@royallepage.ca.

 
     
   
 
 
     
 
   
 
  Marie Taverna  

Marie Taverna

Real Estate Agent

604.351.0141

kmtaverna@gmail.com

https://www.TavernaHomes.com

 
 


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New Video Helps Clients Better Understand the Contract of Purchase and Sale

The British Columbia Real Estate Association (BCREA) has created a video for REALTORS® to share with their clients to help explain one of the key documents used in a real estate transaction: the Contract of Purchase and Sale (CPS).
 
Central to any transaction, the CPS outlines the terms and conditions on which a transaction takes place. You can share this video with your clients to help introduce the CPS, so that when they are ready to make or review an offer, they are familiar with the general content of the form.

The video provides essential information to help consumers understand the CPS, addressing many common questions they may have, including:
  • When does the process begin and when is the Contract of Purchase and Sale used?
  • What information is included in the Contract of Purchase and Sale?
  • What do the terms in the contract mean?
  • And many more
With this new video, Realtors and clients on both sides of the transaction will have a better understanding of the Contract of Purchase and Sale before signing it.
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Welcome to 3207 Valdez Court. Fabulous home is located on a quiet cul-de-sac  street. This home has 3 bedrooms & 3 baths. Lovely living room with French doors, custom built book cases & gas fireplace. Great galley kitchen with white cabinets. Dining area is perfect for family dinners, built in cabinet & wine storage. Family friendly family room with glass slider to the large fenced & hedged backyard. The kids & Fido will love it. Imagine family BBQ's in the Summer. Storage shed for extra garden items. 3 good size bedrooms upstairs. Plenty of storage in the crawl space. Great family neighbourhood with parks, trails, shopping, transit & Skytrain a short stroll away. Call for more details.

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November 18-25, 2019

The REALTORS Care® Blanket Drive is coming soon!

Here's how you can help

We collect blankets and warm clothing to help the homeless, women and children in need, and persons living in supportive housing. Your donations are kept in the community where they are collected, and are given to charities that distribute them directly to those in need.

Please donate the following items for all ages:

  • gently used or new blankets or sleeping bags
  • warm clothing, coats
  • hats, gloves, scarves
  • new socks and underwear

Socks are especially important for the homeless. They're as good as gold. Find out why by listening to this item from CBC radio, Sunday Edition.

Here's a list of Lower Mainland charities who received donations from the Blanket Drive.


The REALTORS Care® Blanket Drive story

Way back in 1994, some caring REALTORS® in Vancouver observed the homeless situation in the city’s eastside and said to themselves, we’ve got to do something.

They put out an appeal to their colleagues for warm blankets and coats and collected enough donations to help 3,000 of Vancouver’s homeless in the downtown core.

That single act of kindness has blossomed into one of the largest annual collections of warm clothing and blankets, helping homeless people and the working poor in every single community in the Lower Mainland.

Since then, thousands of REALTORS® from Whistler to Hope have collected enough donations to help more than 385,000 people in need. Each year, more than 75 dedicated members pick-up and deliver all the donations, and well over 100 real estate offices in the Lower Mainland act as collection depots.

The REALTORS Care® Drive now collects an astonishing amount of warm, winter items on behalf of dozens of local charities to help about 35,000 people each year.

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Basement basics to elevate your home


Finishing an underutilized basement makes financial sense in certain situations, and may add to your home’s resale value. For a family who has outgrown their current space and  wants to avoid buying a more expensive, larger home, finishing the basement can be worthwhile. Yet, there are considerations to ensure your project will be worth the time, effort and expense.

Use these guidelines to determine if your basement is a good candidate for a renovation and will deliver adequate return on your investment:

  • Is there enough headroom? A finished floor-to-ceiling height of at least 7.5 feet is required. Include in your calculation 2.5 inches for flooring and ceiling finishing materials. If you own an older home with insufficient floor to ceiling space, you may need to consider additional costs to lower and underpin the foundation to create sufficient headroom.
  • Is your basement wet? You’ll want to address any moisture problems before you begin. In older homes, moisture issues can be severe. In some cases, you’ll need to waterproof the foundation from the outside. Waterproofing can add substantially to the cost as excavation, waterproofing, weeping tile and backfill may be required.
  • Are your windows adequate? The outside bottom edges of all basement windows should be at least six inches above the soil. Consider the size and condition of the windows. Are any large enough for fire escape? Are they operable, damage-free, airtight and energy-efficient? Be sure to calculate the cost of any needed window upgrades when estimating your costs.

Finished basements provide a myriad of possibilities including guest rooms, nanny suites, play rooms and home theatres. Whether you’re looking to increase the value of your home, or enhance your living space, do your research to ensure a successful project.

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How to Prepare Your AC for Winter

Presented by Enercare


Sweater weather. Cranberry sauce. Pumpkin Spice Lattes. The sound of leaves crunching underfoot. The signs are real. Summer is officially over and it’s time to transition from cool to cozy.


We all know how to prepare for colder weather – thicker coats, thermal undershirts, woolly socks, the whole kit and caboodle. But when it comes to our air conditioners, the checklist for winter preparation isn’t quite as familiar. The following describes a few things to do before your unit gets attacked by snow, freezing rain and sleet. If you procrastinate, there’s a chance it might not be the same come next summer.


First things first. Turn it off. It’s Canada. You won’t need it for the next six months (at least). This will keep the air conditioner from turning on during an unseasonably warm day and keep any resulting water from damaging the condensing unit. Most importantly, it will prevent the risk of electrocution as you perform maintenance tasks.

Next, prepare your air conditioner for hibernation. Give it a good rinse with a hose. Let it dry.


Clear all the branches, grass, pinecones, bugs and dust using a vacuum with a soft brush attachment, leaving a three-foot clearance on all sides. Gently straighten any bent fins. Unscrew the top grill, lift out the fan (without bending or disconnecting wires) and remove any debris from the interior. Change the air filter. Look for cracks, rust, leaks and other irregularities in the casing.


And finally, turn it back on for a minute or two to listen to the compressor for any unusual noises such as buzzing, clunking or grinding. If you’d rather have a professional take care of all this, Enercare can send out a TSSA certified and licensed technician under our Cooling Maintenance Plan.


Once the air conditioner has been cleaned, it’s ready to be covered. This will protect the unit from debris, falling ice and other buildup that can get lodged in the unit over the winter. Ideally, you’d be able to obtain a cover from the same manufacturer as your unit.  If that’s not an option, use a bungee cord to tie down a waterproof vinyl cover that goes down over the side about 6 inches.


It’s important that this length is not exceeded otherwise the cover might become a quaint room and board for local animals.


If your unit has any exterior exposed pipes, insulate them with foam covers and zip-ties to protect them from harsh temperatures.


And you’re done!


Your air conditioner is now ready for winter. Just make sure to check the cover every now and then. Plus, it’s always a good idea to double check for debris throughout the winter as any kind of buildup could trap moisture in the machine.


You could also consider having your equipment serviced by Enercare so it’s ready when you need it next summer. We could even get your heating system ready at the same time. Service is only a phone call away.


For more information on maintenance plans for your air conditioner, call 1-844-ENERCARE.

Sponsored
 
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November 18-25, 2019

The REALTORS Care® Blanket Drive is coming soon!

Here's how you can help

We collect blankets and warm clothing to help the homeless, women and children in need, and persons living in supportive housing. Your donations are kept in the community where they are collected, and are given to charities that distribute them directly to those in need.

Please donate the following items for all ages:

  • gently used or new blankets or sleeping bags
  • warm clothing, coats
  • hats, gloves, scarves
  • new socks and underwear

Socks are especially important for the homeless. They're as good as gold. Find out why by listening to this item from CBC radio, Sunday Edition.

Here's a list of Lower Mainland charities who received donations from the Blanket Drive.


The REALTORS Care® Blanket Drive story

Way back in 1994, some caring REALTORS® in Vancouver observed the homeless situation in the city’s eastside and said to themselves, we’ve got to do something.

They put out an appeal to their colleagues for warm blankets and coats and collected enough donations to help 3,000 of Vancouver’s homeless in the downtown core.

That single act of kindness has blossomed into one of the largest annual collections of warm clothing and blankets, helping homeless people and the working poor in every single community in the Lower Mainland.

Since then, thousands of REALTORS® from Whistler to Hope have collected enough donations to help more than 385,000 people in need. Each year, more than 75 dedicated members pick-up and deliver all the donations, and well over 100 real estate offices in the Lower Mainland act as collection depots.

The REALTORS Care® Drive now collects an astonishing amount of warm, winter items on behalf of dozens of local charities to help about 35,000 people each year.

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Welcome to the Oasis...Fabulous two bedroom & two bathroom corner upper floor condo unit with gorgeous view of Mt.Baker, the Valley & beyond. An entertainers dream living room & dining room. Gas range for the chef. Stainless appliances, stone counter tops & lots of cabinets. Perfect office alcove. Master suite with balcony+walk-in closet+ensuite with tub. Second bedroom for guest area or den. Great balcony for Summer dinners. In suite front load washer/dryer. Live among the clouds with the floor to ceiling windows. Take advantage of the outdoor pool & hot tub+bbq area+fitness area+party room+lovely garden+ more. Walk to Skytrain, shopping, schools, Lafarge Lake, a huge variety of restaurants & coffee shops.

http://www.listings.360hometours.ca/14598

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November 18-25, 2019

The REALTORS Care® Blanket Drive is coming soon!

Here's how you can help

We collect blankets and warm clothing to help the homeless, women and children in need, and persons living in supportive housing. Your donations are kept in the community where they are collected, and are given to charities that distribute them directly to those in need.

Please donate the following items for all ages:

  • gently used or new blankets or sleeping bags
  • warm clothing, coats
  • hats, gloves, scarves
  • new socks and underwear

Socks are especially important for the homeless.

They're as good as gold. Find out why by listening to this item from CBC radio, Sunday Edition.


Here's a list of Lower Mainland charities who received donations from the Blanket Drive.


The REALTORS Care® Blanket Drive story

Way back in 1994, some caring REALTORS® in Vancouver observed the homeless situation in the city’s eastside and said to themselves, we’ve got to do something.

They put out an appeal to their colleagues for warm blankets and coats and collected enough donations to help 3,000 of Vancouver’s homeless in the downtown core.

That single act of kindness has blossomed into one of the largest annual collections of warm clothing and blankets, helping homeless people and the working poor in every single community in the Lower Mainland.

Since then, thousands of REALTORS® from Whistler to Hope have collected enough donations to help more than 385,000 people in need. Each year, more than 75 dedicated members pick-up and deliver all the donations, and well over 100 real estate offices in the Lower Mainland act as collection depots.

The REALTORS Care® Drive now collects an astonishing amount of warm, winter items on behalf of dozens of local charities to help about 35,000 people each year.

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Welcome to Westhill Place in the popular College Park Neighbourhood of Port Moody. This cute 1 bedroom and 1 bathroom condo is perfect for the first time buyer or the downsizer. Great living room with glass sliders to sundeck that faces the quiet courtyard. Kitchen with freshly sanded and stained cabinets. White appliances. Freshly painted and some updated flooring. The bedroom can fit a king size bed. Mirrored closet doors in bedroom and entry hall. Convenient in suite storage. Updated through the years.  One parking spot. Indoor pool and large exercise room. Rentals allowed with some restrictions. Very pet friendly complex. Walk to Westhill Park. Skytrain is bus ride away. Shopping close by. Enjoy the quiet area.

http://www.listings.360hometours.ca/14734

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Welcome to 1904-2355 Madison Ave. This two bedroom / two bathroom corner unit condo has a fabulous view of the North Shore Mountains to Lions Gate Bridge to the Sparking Lights of Vancouver. This home has floor to ceiling windows, with 9 feet ceiling. Relax in your living room in front of the fireplace. Kitchen with stainless steel appliances and stone counter tops. In suite laundry. Master bedroom with 4 piece ensuite. Second bedroom for home office or nursery. Relax on your deck and enjoy the summertime fireworks. Indoor pool, gym and club house. Two parking spots.  Walk to transit, shopping or your favorite restaurant. Don't miss this beauty. Live the Condo Lifestyle at its best....

http://www.listings.360hometours.ca/14424

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OH MY GORGEOUS! From the moment you walk through the front door, this lovely 3 level 5 bed & 4 bath home, you will be impressed. Elegant dining room & living room with beautiful hardwood floors.  Large kitchen with painted oak cabinets, updated granite counter tops, high end S/S appliances, newer back splash+more. French doors to family room, with gas fireplace. Large master suite. Updated ensuite with soaker tub+2 person shower+double sinks. W/C with built-ins & hardwood flooring. 3 large other bedrooms. Upstairs laundry for convenience. Rec room/family area over garage. Large games room down with kitchen/bar area. Bedroom+flex room. Separate entrance. Could be great nanny or in-law suite in future. Beautifully manicured garden. Summer time decks & patio. Located close to all levels of schools+shopping+hiking trails+so much more. 3 bay garage. Large driveway. Cul de sac. Sprinkler system. An entertainers dream.

http://www.listings.360hometours.ca/14558

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Welcome to 4207 Kitchener Street...Located in the popular Willingdon Heights area in North Burnaby. The current owner has lived in this home for over 60 years. Over 2000 square feet with 2 bedrooms upstairs and 1 bedroom down. The lot is over 6000 square feet with approximately 50 feet wide and 122 feet deep. Reno the current home, add an addition or perhaps build your dream home. Fabulous family neighbourhood with Willingdon Park a few steps away, Kitchener Elementary close by. Walk to transit. Shopping  and Alpha Secondary School a short drive away. Lane access with double car garage. Don't miss your opportunity to live at 4207 Kitchener Street. Property like this rarely come up...

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Welcome to #73 at Nile Gate located on a quiet tree lined row. This lovely Georgian inspired townhome with its modern interior & 9' ceiling on main is move in ready. Two bedrooms / two bath + den is location in the popular Riverwood area of Poco. Living room & dining room are perfect for entertaining. Bright kitchen with S/S appliances. Easy care laminate flooring. BBQ deck is Summer ready. Master bedroom & second bedroom upstairs + laundry for convenience. Main/ensuite bathroom with double sinks. Den/office on entry level + bathroom with shower. Cute fenced in front yard.Single car garage with second parking outside "tandem" style. Enjoy the a gorgeous clubhouse with a fitness centre & entertaining room. Fremont Village & Dominion Triangle with shopping, restaurants, craft brewery, coffee shops + schools, Blakeburn Lagoons, Traboulay Trails, Carnoustie Golf Club & transit, all this within walking distance of this home. Don't miss this cutie...


http://www.listings.360hometours.ca/14572


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Just Released: Royal LePage 2019 Canadian Recreational Property Report

Prices forecast to rise 4.7%; spring buyers braved rain and cold to shop for the perfect cottage
 

To: Royal LePage Broker/Owners, Managers, Sales Representatives and Administrators

The 2019 Royal LePage Canadian Recreational Property Report was shared with media early this morning, revealing insights and data from a cross-Canada survey of some of the company's recreational property specialists.

Key highlights from the national release include:

  • Leading up to the 2019 spring market, Canada's recreational properties saw healthy price gains rising 5.0 per cent (year-over-year) to $411,471.
  • Royal LePage forecasts another year of solid gains by March 2020 with prices expected to increase 4.7%.
  • Ontario and Alberta saw greater aggregate price increases than other provinces, rising 7.2 and 10.2 per cent, respectively. In Alberta, the larger market of Canmore influenced this increase, with an 11.4 per cent pickup in price.
  • Quebec experienced a 6.3 per cent year-over-year sales increase for single-family properties in reporting recreational communities, as supply was able to meet demand.
  • Atlantic Canada offers a good selection of recreational property at affordable price points. Year-over-year, the aggregate price of a single-family home in reporting regions rose 5.9 per cent to $257,965.
  • In the Prairies, reporting regions saw softening in both prices and sales over the past year, with the aggregate price for a single-family home in recreational areas decreasing 6.3 per cent to $194,147. Sales dipped 3.4 per cent during the same period. However, this softening may spur sales for 2020.
  • Recreational property sales in British Columbia softened year-over-year, with a decrease of 22.5 per cent in reporting regions. While the aggregate price of a single-family home in these areas is relatively flat (0.4%), the aggregate price is forecast to increase by 1.7 per cent in 2020.
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September 2019
Metro Vancouver housing market sees summer uptick in sales

Home buyer activity increased to more typical levels in Metro Vancouver throughout the summer months.


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


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


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


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


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


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


Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.


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


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


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


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


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


Download the August 2019 stats package. 

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Welcome to 1904-2355 Madison Ave. This two bedroom / two bathroom corner unit condo has a fabulous view of the North Shore Mountains to Lions Gate Bridge to the Sparking Lights of Vancouver. This home has floor to ceiling windows, with 9 feet ceiling. Relax in your living room in front of the fireplace. Kitchen with stainless steel appliances and stone counter tops. In suite laundry. Master bedroom with 4 piece ensuite. Second bedroom for home office or nursery. Relax on your deck and enjoy the summertime fireworks. Indoor pool, gym and club house. Two parking spots. Walk to transit, shopping or your favorite restaurant. Don't miss this beauty. Live the Condo Lifestyle at its best...OPEN HOUSE SUNDAY MAY 5th 2:00-4:00... SEE YOU THERE
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