Strong Housing Demand Forecast Through 2017

BCREA 2016 First Quarter Housing Forecast Update

Vancouver, BC – January 28, 2016. The British Columbia Real Estate Association (BCREA) released 2016 First Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) rresidential sales in the province are forecast to edge back 6.2 per cent to 96,100 units this year, after reaching 102,517 units in 2015. Strong consumer demand is expected to push MLS® residential sales up by 2 per cent to 98,000 units in 2017. /p>

Housing demand in the province is being supported by a relatively robust economy, leading to strong employment growth and rising wages. In addition, net interprovincial migration is on an upswing as many Albertans look to BC for job opportunities. BC home sales are forecast to remain well above the ten-year average of 83,200 units over the next two years.

“The inventory of homes for sale is now at its lowest level in almost a decade,” said...

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I just finished uploading this Condo for sale, 907 1788 Ontario Street, Vancouver , BC

PROXIMITY-The newest project from Bastion Development, completing Spring of 2016. PROXIMITY features 9' ceilings & Gourmet kitchens that include: CaesarStone counter tops with FULL SIZE FisherPaykel, Bosch & GE appliances. Sleek Hydrocork vinyl flooring throughout. Spa inspired bathrooms featuring Moen fixtures. Relax in the Club House or outside in Communal garden plots. Enjoy the view from the Rooftop Deck. Be a part of the new thriving community and lifestyle that is South East False Creek. Steps from the seawall, shopping, dining and recreation. PROXIMITY to everything in False Creek.

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Lower Mainland Housing Marketing is Hot in 2016

January 20th, 2016

Vancouver – The January housing market in the Lower Mainland is already off to a hot start. A recent listing in Port Moody sold in just one week for $142,000 over asking. Though this was a record-breaking price in the neighborhood at the time of the sale, it has since been broken. “This is indicative of the seller’s market we’re currently experiencing,” explains listing agent Karel Palla.

Palla, along with his business partner Darryl Sjerven, showcased the home to its best advantage and maximized their marketing exposure through “Just Listed” post cards and a strategic social media blitz. Their marketing resulted in 175 groups viewing the house in one weekend and 8 offers and the house was only on the market for seven days.

About the Listing

Type: Five-bedroom, four-bathroom detached
Size: 4,142 square feet
B.C. assessment, 2016: $1,117,000
Listed for: $1,238,000
Sold for: $1,380,000
Sold on: Jan. 11th, 2016
Days on market: Seven...

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December Smashes Home Sales Record and 2015 Enters Record Book

Vancouver, BC – January 15, 2016. The British Columbia Real Estate Association (BCREA) reports that a record number of home sales were recorded in the province for the month of December. A total of 6,590 residential unit sales were recorded by the Multiple Listing Service® (MLS®) last month, up 29.8 per cent from the same month the previous year. Total sales dollar volume hit a record $4.62 billion for the month of December, up 55.4 per cent compared to the previous year.

The average MLS® residential price in the province climbed above the $700,000 threshold for the first time in BC last month, rising 19.7 from December 2014 to $700,943.

“The 2015 housing market finished in dramatic fashion, with record demand for month of December,” said Cameron Muir, BCREA Chief Economist. “BC home sales breached the 100,000 unit threshold in 2015, and it was only the third time on record that this high...

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I just finished uploading this Condo for sale, 3102 1009 Expo Boulevard, Vancouver , BC

LANDMARK 33 - Fabulous 1 bedroom & den with bright southwest sunny exposure, floor to ceiling windows and sweeping City views. The '02' plan is the most sought after 1 bedroom & den plan with the best City views in the building. Trendy open floor plan with the kitchen open to the living and dining areas, stainless steel appliances, including a large den that could act as a second bedroom or makes for great home office space. Beautifully maintained. Just move in to enjoy or perfect for an investment property. Currently rented to an excellent tenant for $1675 per month on an month to month basis. Resort style facilities: concierge, huge indoor pool, hot tub, sauna, gym, squash courts, guest suites & rooftop deck. 1 parking & locker.

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I just finished uploading this House for sale, 5 Cedarwood Court, Port Moody, BC

Superb family home! This 6 bedroom & 4 bath Heritage Woods home, with a relaxed and open plan, offers almost 4000 sq ft of spacious living on 3 levels. Bright and sunny, with an extra large, private, southwestern exposure yard that's almost 9000 sq ft, located on a quiet cul-del sac. 5 bedrooms up, including Master Suite w/ 5 pc bath. Main floor features an open kitchen with sunny eating nook, dining room opening to a huge new deck, formal living room w/ fireplace, a family room and even office space on main. Down is fully finished walk out level basement, easy to suite. From the 1.5 year old roof to the new paint both in and out, this home is in impeccable condition and is a family's dream.

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Metro Vancouver home sales set an all-time record in 2015

In a year when the number of homes listed for sale was below historical averages, actual home sales in Metro Vancouver set a new record.

The Real Estate Board of Greater Vancouver (REBGV) reports that 2015 home sales were the highest annual total in REBGV history. This was powered early in the year by four straight months with more than 4,000 sales a month from March to June, another first for REBGV.

Sales of detached, attached and apartment properties in 2015 reached 42,326, a 27.8 per cent increase from the 33,116 sales recorded in 2014, and a 48.4 per cent increase over the 28,524 residential sales in 2013.

The total number of homes listed for sale on the MLS® in 2015 ranked fifth in the last ten years, while the MLS® Home Price Index (HPI) saw double-digit year-over-year price increases.

The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in 2015 reached 57,249....

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We are proud to announce that this Jan 10th, 2:00 PM to 4:00 PM we will be hosting an Open House at 5 Cedarwood Court in the Heritage Woods neighborhood, Port Moody. This is an opportunity to visit this excellent House for sale in beautiful Heritage Woods.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Heritage Woods House for sale.

As always please do not hesitate to give is a call at 604.678.3334 if we can answer any questions before the open house, or if you would like to book a private showing.

Karel Palla & Darryl Sjerven
RE/MAX Select Realty

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.