Blog

September 2019 Market Update

Residential sales across B.C. up 12.4% from last year: BCREA

With home sales making a significant year-over-year jump in the Lower Mainland in July, residential transactions for the whole of B.C. followed suit, according to stats released August 13 by the B.C. Real Estate Association (BCREA).

“B.C. home sales climbed higher for the first time in 18 months on a year-over-year basis in July,” said Cameron Muir, BCREA’s chief economist. “Households appear to be adjusting to the tighter credit environment as the shock of the B20 stress test dissipates.”

The association reported that housing demand has “trended higher since March, rising 21 per cent on a seasonally adjusted basis.” Full article here.

Click here for full report

GREATER VANCOUVER REAL ESTATE MARKET STATISTICS – FEBRUARY 2019

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in February 2019.

Vancouver-West

In the Vancouver Westside, there were 44 sales of detached homes and 759 active listings at the end of the month. The benchmark sale price was $3,029,200 with average days on market of 36. The hottest markets for sales was Kitsilano with 10 sales.

In comparison, the condo market had 186 sales, 1,355 active listings and a benchmark sale price of $784,300 with an average of 36 days on market. The hottest market for sales was Downtown VW, 37 sales.

Townhome sales were 21, active listings were 205. The benchmark sale price was $1,208,500 with an average days on market of 25. Kitsilano with 9 sales was the hottest market of the month.

It’s a buyer’s market in Vancouver West.

Click here to read more

MACDONALD REAL ESTATE GROUP MARKET REPORT 2016–17

Last year was a year of transformation for Macdonald Realty, part of a greater evolution that has taken place over the last two years. Over this time, we have spent more than $3 million upgrading a dozen of our residential office locations — including completely renovating our Vancouver- Kerrisdale and West Vancouver locations. We also opened new offices in Sidney (on Vancouver Island) and Sechelt (on the Sunshine Coast), while our Maple Ridge office moved to a beautiful new space in November. The entire Macdonald Realty team is eagerly awaiting spring 2017, when we will open a new office in North Delta — providing even greater coverage in the booming Fraser Valley region.

Continue reading

REALTORS Care® Blanket Drive helps 30,000 people stay warm

More than 30,000 Lower Mainland residents will receive blankets and warm clothing this winter thanks to donations collected during the 22nd annual REALTORS Care® Blanket Drive.

Between November 14 and 21, over 100 real estate offices served as drop-off locations for donations. Realtor volunteers then collected, sorted and delivered the donations to local charities last week.
“The Blanket Drive partners each year with a network of over 50 charities across the Lower Mainland to get the donations to the people who need them the most,” Dan Morrison, Real Estate Board of Greater Vancouver president said. “We’d like to thank our volunteers and the thousands of people who donated this year.”

All donations to the program remain in the community in which they were collected. “Warm clothing and blankets are in such high demand since the weather turned. It’s hard to keep up and we’re grateful for the continued support from the Blanket Drive program—it makes a real difference,” said Wes Everaars of the Lookout Emergency Aid Society.

The REALTORS Care® Blanket Drive is a partnership between the Realtors of the Real Estate Board of Greater Vancouver, the Fraser Valley Real Estate Board and the Chilliwack and District Real Estate Board and their communities by using program such as executive leadership coaches.

The program is the largest and longest running blanket drive in British Columbia. Since it began in 1994, it has helped more than 300,000 people in our communities keep warm and dry during the winter months.

Go to www.blanketdrive.ca for more information. For photos from the Blanket Drive, visit www.facebook.com/BlanketDrive

copyright© real estate board of greater vancouver. all rights reserved.

HOW TO PREPARE YOUR HOME FOR FALL WEATHER

Labour Day doesn’t only mean the end of wearing white (supposedly), it also means we can expect cooler weather. In addition to that new jacket and scarf, there are a few things you should be doing around your home to get ready for falling temperatures. Doing all these things will help you stay warm without huge heating bills.

Make sure your home is properly insulated

This is the single biggest thing you should do against colder weather. If you have an attic, make sure there is adequate insulation up there. If you aren’t sure how much insulation you need, this map is very helpful.

Seal your windows with weatherstripping

Keep out the cold by applying weatherstripping around the edges of your windows. You can also put an insulating film on the window panes to increase the effect.

Check your ducts

If there is a duct system in your home (a/c, for example), it can lead to big heat loss if not properly cared for. Make sure all ducts are properly sealed before firing up your furnace. If you find any leaks, it’s best to get an expert to carry out repairs.

Change the air filter on your furnace

A new, clean air filter makes life so much easier for your heating system. That means it doesn’t have to work as hard and your bills won’t be as high. Try to change filters every month.

Continue reading

January 2016 market update

In the Vancouver Westside, there were 135 sales of detached homes and 502 active listings at the end of January. The benchmark sale price was $2,928,800, with an average days on market of 42. The hottest market for sales was Shaughnessy with 16 sales.

In comparison, the condo market had 307 sales, 768 active listings and a benchmark sale price of $599,200 with 32 average days on market. The hottest market for sales was Downtown VW, 75 sales.

Townhome sales were 31, active listings were 80. The benchmark sale price was $892,600with an average days on market of 48. University VW, 5 sales, was the hottest market for sales in January.

Listings are down. Sales are up. It’s a seller’s market. Do you want to know what that means? I’m here to help!

The Vancouver Eastside had 98 sales and 314 active listings for detached homes at the end of the month. The benchmark sales price was $1,234,100, and the average days on market were 35. The hottest sales market was Killarney VE with 15 sales.
The condo market featured 88 sales, 209 active listing, and a benchmark sales price was $373,800. The average days on market were 43 days, and the hottest market for sales was Mount Pleasant VE with 21 sales.
The townhome market, on the other hand, had 10 sales and 36 active listings. The benchmark sale price was $661,200 with 36 average days on market. Champlain Heights had the most sales in January at 4.

North Shore
In January, the North Vancouver market had 69 sales and 151 active listings for detached homes. The benchmark sale price was $1,351,900 with an average days on market of 21. Lynn Valley, 12 sales, had the most sales activity.
There were 62 sales and 167 active listings for condos. The benchmark sale price was$395,300 with 33 average days on market. The neighbourhood of Lower Lonsdale with 22 sales was the hottest sales market.
Townhome sales were 35, active listings were 36, the benchmark sale price was $701,500, and the average days on market were 31. Central Lonsdale with 5 sales had the most sales activity.
Listings are down. Sales are up. It’s a seller’s market.

The West Vancouver market had 82 sales and 345 active listings for detached homes. The benchmark sale price was $2,659,000 with 47 average days on market. Ambleside with 15 sales was the neighbourhoods with the most sales activity.
Condo sales were 17 and active listings were 79 at the end of the month. The benchmark sales price was $766,600 with an average days on market of 92. Same as detached homes, Ambleside had the most sales in January at 8.
In comparison, townhome market had 6 sales and 8 active listings; the average days on market were 7.
Listings are down. Sales are up. It’s a seller’s market.
 

Oakridge Transit Centre

With all the discussion surrounding the removal of the historic Georgia viaducts, you may have missed the release of the policy statement for the Oakridge Transit Centre (“OTC”) site, which is slated for sale.

OTC is a 13.8 acre site owned by Translink, it’s been used as a bus barn since 1948. You’ve probably driven passed it a million times, just east of Oak Street on West 41st Avenue. With the new Vancouver Transit Centre opening in Marpole in 2006, this site became unnecessary. Translink approached the City with regards to redeveloping the site and planning began in early 2014. There have been many workshops and open houses resulting in the current policy statement.

The report describes the vision of the site:

“The OTC will be primarily residential and designed to accommodate a range of housing types and provide for a mix of incomes. New housing will be focused around a central public park that includes a childcare centre, and local-serving shops and services will be concentrated along West 41st Avenue. The OTC will invite local residents into and through the site on public walkways, bicycle paths, and new streets. The tallest buildings will be located in the centre of the site and along 41st Avenue to reduce impacts to the surrounding neighbourhood and shadowing on public spaces.”

Here is a summary of what is being proposed for the site:

  • a total density of 2.1 FSR
  • 1,265,000 SF of development (estimated to be roughly 1,200 units)
  • Building heights of 3-15 storeys
  • 20% of units are affordable housing units
  • 10,000-20,000 SF of retail uses along West 41st frontage
  • 2.3 acre park
  • $60 Million+ CAC (Community Amenity Contributions)
  • Rezoning for adjacent Oakmont Medical Centre site (6-storeys, 2.5 FSR) and Petro Canada (8-storeys, 3.25 FSR)

For the full policy statement click here. (https://go.madmimi.com/redirects/1446413477-fcaca3c71d7503907c53cc512a81b5ce-b53e1a7?pa=34273152557)