The 604 New Home Team : Blog : Latest Blog Posts

New property listed in Central Pt Coquitlam, Port Coquitlam

Fri, 01 May 2026 09:02:57 GMT

I have listed a new property at 204 2460 Kelly Avenue in Port Coquitlam. See details here

Fantastic Opportunity in a over 1000 Sq Ft 2 Bedroom plus Den Corner condo, just steps to Gates Park! Open Concept Floor Plan with bedrooms opposite sides and a good size Den! Ideally situated 2nd Floor Corner unit offers security, privacy and generous interior and exterior space with TWO oversize Covered Balconies! Enjoy year round outdoor living! 1 Block to Gates Park, numerous restaurants, shops, Poco Traboulay Trail, Poco Rec Center (pool, 3 ice rinks) library, etc! 82 Walk Score and 83 Bike Score! Enjoy carefree living and leave the car at home! Open House Saturday May 2, 1-3 pm.

New property listed in Willoughby Heights, Langley

Wed, 22 Apr 2026 09:03:06 GMT

I have listed a new property at 11 6747 203 Street in Langley. See details here

Highly upgraded Polygon-built corner residence offering rare privacy and abundant natural light. Open-concept main level with indoor-outdoor living from a main-floor patio, plus a lower-level deck overlooking a private garden with flexible space to relax or entertain. Upper floor features 3 bedrooms, 2 full baths, and in-suite laundry. Designer kitchen includes quartz waterfall peninsula, separate island, custom cabinetry, farmhouse sink, Samsung appliances, and a dry bar with wine fridge. Updated bathrooms and custom closet cabinetry throughout. Single-car garage with parking pad and EV-charging capability via smart, load-managed Level-2 power, plus bonus storage or flex space. Pet-friendly community permitting up to two dogs. Amenities include pool, gym, clubhouse, playground, and trails

I have sold a property at 30 19095 Mitchell Road in Pitt Meadows

Fri, 20 Mar 2026 09:03:49 GMT

I have sold a property at 30 19095 Mitchell Road in Pitt Meadows on Mar 8, 2026. See details here

2-story, Spacious 1,825 sq ft Immaculate, craftsman-detailed home with side-by-side 2-car garage and extra-large private fenced backyard. Open great-room layout with expansive island, quartz counters, undermount sinks, wood shaker cabinetry and stainless appliances. Three huge upstairs bedrooms with spa-like ensuites: 3x5 showers, separate soaker tub, his-and-her vanities, massive walk-in closets and second-floor laundry with linen/utility storage. Flexible bonus room for office, gym, media or playroom. Coffered ceilings, crown moldings, central vac and quality finishes throughout—Close to many parks, schools, transit, West coast express and shopping. exceptional design and investment.

New property listed in Central Meadows, Pitt Meadows

Tue, 03 Mar 2026 09:05:20 GMT

I have listed a new property at 30 19095 Mitchell Road in Pitt Meadows. See details here

I have sold a property at 89 Fernway Drive in Port Moody

Fri, 31 Oct 2025 09:00:54 GMT

I have sold a property at 89 Fernway Drive in Port Moody on Oct 13, 2025. See details here

Stunning Duplex Home in fabulous Heritage Woods! Recently renovated featuring New Kitchen, appliances, gorgeous center island, quartz countertops, modern light fixtures, & vinyl plank flooring. Main Level - generous Living, Dining rooms, Massive work island, renovated Powder Room and access to ample outdoor living space - private backyard and view deck with Panoramic South East Views! Upstairs: 3 good size rooms including an extra large Primary Bedroom with Walk in Closet. Downstairs: Versatility with a large 4th bedroom or Office / Recroom, Laundry room, and access to your nearly 40' Tandem Garage. Beautifully updated and lovingly cared for by long time owners - Move in Ready condition. Walking distance to all levels of schools and minutes to Skytrain, Rocky Point, Brewer's Row, Belcarra!

I have sold a property at 1692 Windermere Place in Port Coquitlam

Wed, 15 Oct 2025 09:01:48 GMT

I have sold a property at 1692 Windermere Place in Port Coquitlam on Sep 29, 2025. See details here

Fantastic opportunity in a great neighborhood! Over 2000 sq ft Rancher on a flat Cul de Sac, walking distance to schools, parks, recreation, shopping & more! 4 Bedrooms, Den, Living Room and massive Family Room offers space and One Level Living for the whole family - no stairs! With some cosmetic updates and sweat equity, this home could really sparkle! Great possibilities for a new build as well - possible to build a Duplex with suites with two street frontages for separation and privacy. Leave the car at home and walk to so many nearby amenities: Irvine Elementary (6 min), Kwayhquitlam Middle (16 min), Hyde Creek Community Center (21 min), Save on Foods / Starbucks (21 min), Pharmasave, Lifelabs, numerous restaurants and more are all an easy flat walk on nice streets!

New property listed in Heritage Woods PM, Port Moody

Thu, 18 Sep 2025 09:00:55 GMT

I have listed a new property at 89 Fernway Drive in Port Moody. See details here

New property listed in Oxford Heights, Port Coquitlam

Wed, 27 Aug 2025 09:00:59 GMT

I have listed a new property at 1692 Windermere Place in Port Coquitlam. See details here

I have sold a property at 310 2429 Hawthorne Avenue in Port Coquitlam

Wed, 06 Aug 2025 09:00:40 GMT

I have sold a property at 310 2429 Hawthorne Avenue in Port Coquitlam on Jul 21, 2025. See details here

Top-floor 1 bed, 1 bath unit in Stonebrook — perfect for first-time buyers or investors! This bright, well-maintained home features an updated kitchen with granite countertops and new stainless steel appliances, plus in-suite laundry for added convenience. Relax by the cozy gas fireplace (gas & hot water included in strata fee) or enjoy your large covered balcony, ideal for year-round use. 1 parking stall + oversized locker. Pet-friendly building—dogs & cats welcome! Unbeatable location - steps away from nature across from Gates Park with access to trails or cool off in the Coquitlam River. Close to transit, shops, restaurants, and the PoCo Rec Centre. Minutes to West Coast Express & highways for commuters. Great value in a park-like neighborhood!

New property listed in Heritage Woods PM, Port Moody

Sat, 19 Jul 2025 09:00:38 GMT

I have listed a new property at 89 Fernway Drive in Port Moody. See details here

New property listed in Central Pt Coquitlam, Port Coquitlam

Wed, 16 Jul 2025 09:00:43 GMT

I have listed a new property at 310 2429 Hawthorne Avenue in Port Coquitlam. See details here

New property listed in Port Moody Centre, Port Moody

Tue, 08 Jul 2025 09:00:40 GMT

I have listed a new property at 4 3347 Dewdney Trunk Road in Port Moody. See details here

This rarely available, spacious 4 bed, 3 bath end unit is at the back of quiet 7 unit complex and only a 5 minute walk to Inlet Station Skytrain! This architecturally appealing home gets plenty of sunshine to enjoy inside as well as the balcony or backyard. MAIN has beautiful wood cabinets & stainless steel appliances in the large kitchen with island. Crown moldings in living room with wood fireplace & family room. Space for everyone with 4 beds & 2 full baths UP. LOWER has rec room, laundry & powder room. Double garage for storage. Close to recreation, trails, shops and restaurants of Suter Brook/Newport Village. Short drive to Coquitlam Centre and great schools and daycares. Great location for commuters - close to Skytrain and bus routes. Open House Saturday and Sunday, 2-4pm!

New property listed in Central Pt Coquitlam, Port Coquitlam

Sat, 05 Jul 2025 09:00:38 GMT

I have listed a new property at 310 2429 Hawthorne Avenue in Port Coquitlam. See details here

Top-floor 1 bed, 1 bath unit in Stonebrook — perfect for first-time buyers or investors! This bright, well-maintained home features an updated kitchen with granite countertops and new stainless steel appliances, plus in-suite laundry for added convenience. Relax by the cozy gas fireplace (gas & hot water included in strata fee) or enjoy your large covered balcony, ideal for year-round use. 1 parking stall + oversized locker. Pet-friendly building—dogs & cats welcome! Unbeatable location - steps away from nature across from Gates Park with access to trails or cool off in the Coquitlam River. Close to transit, shops, restaurants, and the PoCo Rec Centre. Minutes to West Coast Express, SkyTrain & highways for commuters. Great value in a park-like neighborhood! Open Sat: 1-3, Sun: 11:30-1:30pm

New property listed in Central Pt Coquitlam, Port Coquitlam

Tue, 17 Jun 2025 09:00:36 GMT

I have listed a new property at 3141 Jervis Street in Port Coquitlam. See details here

Opportunity Knocks! Flat Rectangular 6615 Sq Ft Lot with Lane Access on a Quiet Street within 400m of prescribed Bus Stop. Triplex with suites possible based on information from City Hall. Large rectangular flat lot with lane access! The current structure is a Basement Entry home. Main Floor (upper): 3 Bedrooms, 1 Full bath, Large living room, dining room, kitchen. The lower level offers an oversize rec room, space for an open den, 2 pc bath, single car garage and extra storage areas. Central Air Conditioning. With some cosmetic renovations, could be a good buy and hold or can build now. Call your Realtor for further details.

I have sold a property at 48 3046 Coast Meridian Road in Port Coquitlam

Thu, 05 Jun 2025 09:00:35 GMT

I have sold a property at 48 3046 Coast Meridian Road in Port Coquitlam on May 28, 2025. See details here

Opportunity for renovators in this 3 Bedroom, 2 bath (plus ensuite with sink) Bathroom Townhome. Don't let the address fool you - this townhouse is situated in the middle of the complex, set well back from Coast Meridian. Super convenient location walking distance to schools, parks, Save On Foods, and more! New Roof underway paid for by current owner. Build Sweat Equity - requires full renovation. Call your Realtor for further information.

I have sold a property at 2 304 Highland Way in Port Moody

Fri, 23 May 2025 09:00:47 GMT

I have sold a property at 2 304 Highland Way in Port Moody on Jan 16, 2025. See details here

Opportunity Knocks at this Highland Park Ground Level 3 Bedroom, 1 Bathroom Townhome. Situated steps from Inlet Skytrain Station, Newport Village, Suter Brook Village, and Port Moody Recreation Center, Library - approximately 5 min walk! Nearby Brewery Row, Inlet Trail, and Rocky Point Park are an easy flat walk! Development Potential with the new Inlet District underway just next door. Build Sweat Equity - requires full renovation. Call your Realtor for further information.

New property listed in Birchland Manor, Port Coquitlam

Fri, 09 May 2025 09:00:28 GMT

I have listed a new property at 48 3046 Coast Meridian Road in Port Coquitlam. See details here

GVR May 2025 stats: Lots of Choice

Sat, 03 May 2025 23:03:27 GMT

VANCOUVER, BC – May 2, 2025 – The slowdown in home sales registered on the Multiple
Listing Service® (MLS®) in Metro Vancouver* that began early this year continued in April,
with sales down nearly 24 per cent year-over-year.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
2,163 in April 2025, a 23.6 per cent decrease from the 2,831 sales recorded in April 2024. This
was 28.2 per cent below the 10-year seasonal average (3,014).
“From a historical perspective, the slower sales we’re now seeing stand out as unusual,
particularly against a backdrop of significantly improved borrowing conditions, which
typically helps to boost sales,” said Andrew Lis, GVR’s director of economics and data
analytics. “What’s also unusual is starting the year with Canada’s largest trading partner
threatening to tilt our economy into recession via trade policy, while at the same time having
Canadians head to the polls to elect a new federal government. These issues have been hard
to ignore, and the April home sales figures suggest some buyers have continued to patiently
wait out the storm.”
There were 6,850 detached, attached and apartment properties newly listed for sale on the
MLS® in Metro Vancouver in April 2025. This represents a 3.4 per cent decrease compared to
the 7,092 properties listed in April 2024 and was 19.5 per cent above the 10-year seasonal
average (5,731) for the month.
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 16,207, a 29.7 per cent increase compared to April 2024 (12,491). This is 47.6 per
cent above the 10-year seasonal average (10,979).
Across all detached, attached and apartment property types, the sales-to-active listings ratio
for April 2025 is 13.8 per cent. By property type, the ratio is 9.9 per cent for detached homes,
17.5 per cent for attached, and 15.7 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.
“While the headlines have been filled with worrying news lately, there are positives in the
current market worth highlighting, especially for buyers,” Lis said. “Inventory levels have just
crested 16,000 for the first time since 2019, prices have stayed fairly stable for the past few
months, and borrowing costs are the lowest they’ve been in years. These factors benefit
buyers, and with balanced conditions across the market overall, there’s plenty of opportunity
for anyone looking to make a purchase.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,184,500. This represents a 1.8 per cent decrease over April
2024 and a 0.5 per cent decrease compared to March 2025.
Sales of detached homes in April 2025 reached 578, a 29 per cent decrease from the 814
detached sales recorded in April 2024. The benchmark price for a detached home is
$2,021,800. This represents a 0.7 per cent decrease from April 2024 and a 0.6 per cent
decrease compared to March 2025.
Sales of apartment homes reached 1,130 in April 2025, a 20.2 per cent decrease compared to
the 1,416 sales in April 2024. The benchmark price of an apartment home is $762,800. This
represents a two per cent decrease from April 2024 and a 0.6 per cent decrease compared to
March 2025.
Attached home sales in April 2025 totalled 442, a 23.8 per cent decrease compared to the 580
sales in April 2024. The benchmark price of a townhouse is $1,102,300. This represents a 2.9
per cent decrease from April 2024 and a one per cent decrease compared to March 2025.

For more stats and details, CLICK HERE

Fraser Valley Stats May 2025 Abundant Listings

Sat, 03 May 2025 23:01:03 GMT

SURREY, BC – Home buyers in the Fraser Valley are enjoying a selection of homes for sale not seen in more
than a decade. The growing inventory of more than 10,000 active listings means, in many cases, that buyers
have time, selection and price negotiation on their side.
“There’s definitely a surge of activity in the market — buyers are out viewing homes and attending open
houses,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “What’s noticeable in the current
market is the level of choice. A buyer might see a home they like and then have an opportunity to tour five
or ten more just like it, without feeling rushed to make an immediate offer.”
However, despite the abundance of listings and potential buying opportunities, spring sales remain
sluggish. The Fraser Valley Real Estate Board recorded 1,043 sales on its Multiple Listing Service® (MLS®) in
April, up one per cent from March and down 29 per cent year over year. New listings declined slightly in
April, down one per cent from March.
The overall sales-to-active listings ratio indicates a buyer’s market in the Fraser Valley, with a ratio of 10 per
cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.
Across the Fraser Valley in April, the average number of days to sell a single-family detached home was 32,
while for both townhomes and condos it was slightly lower at 29 days.
“Tariffs and economic uncertainty continue to weigh heavily on the minds of home buyers in the Fraser
Valley,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “However, with the federal election
now behind us and a new administration in place, there’s cautious optimism that a fresh approach to
strengthening the economy could be on the way, which is welcome news for the real estate sector.”
The composite Benchmark price in the Fraser Valley decreased 0.2 per cent in April, to $972,700.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,506,600, the Benchmark price for an FVREB single-family detached
home increased 0.1 per cent compared to March 2025 and decreased 1.3 per cent compared to
April 2024.
• Townhomes: At $833,100 the Benchmark price for an FVREB townhome decreased 0.1 per cent
compared to March 2025 and decreased 2.4 per cent compared to April 2024.
• Apartments: At $537,800 the Benchmark price for an FVREB apartment/condo decreased 0.6 per
cent compared to March 2025 and decreased 3.2 per cent compared to April 2024

For more stats, CLICK HERE

I have sold a property at 50 24108 104 Avenue in Maple Ridge

Fri, 02 May 2025 09:00:30 GMT

I have sold a property at 50 24108 104 Avenue in Maple Ridge on May 1, 2025. See details here

Extra Large 3 Bedroom (possible 4th bed down) 2.5 Bathroom, 1793 Sq Ft townhouse in desirable Ridgemont! Quiet end of the complex with Greenbelt both front and back, this home offers room to grow, space for your house size furniture, and walking convenience to all levels of schools! Large bright Chef's kitchen offers ample storage space and easy access to your deck for BBQ and outdoor living. The generous Dining and Living areas overlook greenspace and will easily accommodate your guests for entertaining. Upstairs offers 2 full baths and 3 good size rooms, & full size washer/ dryer. Downstairs is a massive Rec Room with 12'6 high ceilings that is a perfect Media Room or Guest Bedroom. 1 Min Walk to C'usqunela Elementary, Albion Rec Ctr & 5 min walk to SRT High.

New property listed in Albion, Maple Ridge

Wed, 09 Apr 2025 09:00:43 GMT

I have listed a new property at 50 24108 104 Avenue in Maple Ridge. See details here

Extra Large 3 Bedroom (possible 4th bed down) 2.5 Bathroom, 1793 Sq Ft townhouse in desirable Ridgemont! Situated at the quiet end of the complex with Greenbelt both front and back, this home offers room to grow, space for your house size furniture, and walking convenience to all levels of schools! Large bright Chef's kitchen offers ample storage space and easy access to your deck for BBQ and outdoor living. The generous Dining and Living areas overlook greenspace and will easily accommodate your guests for entertaining. Upstairs offers 2 full baths and 3 good size rooms, & full size washer/ dryer. Downstairs is a massive Rec Room with 12'6 high ceilings that is a perfect Media Room or Guest Bedroom. 1 Min Walk to C'usqunela Elementary, Albion Rec Center & 5 min walk to SRT Highschool!

Fraser Valley Stats March 2025

Mon, 07 Apr 2025 23:09:34 GMT

Tariffs, economic uncertainty stall spring market in the Fraser Valley

SURREY, BC – March home sales in the Fraser Valley remained nearly 50 per cent below the 10-year
average — making for the slowest start to the spring market in more than 15 years.
The Fraser Valley Real Estate Board recorded 1,036 sales in March, up 13 per cent from February, but still
26 per cent below sales recorded this time last year.
Following a decline on the Board’s Multiple Listing Service® (MLS®) in February, new listings increased 22
per cent in March to 3,800. Overall inventory is at a decade-high level, with 9,219 active listings, 49 per
cent above March 2024 and 59 per cent above the 10-year seasonal average.
“If not for the economic uncertainty driven largely by U.S. tariffs, we’d likely be seeing a typical strong
spring market in the Fraser Valley,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board.
“Instead, we’re seeing a disconnect as sellers remain hesitant to lower their prices beyond a certain
threshold, while buyers, facing tighter financing conditions, are either unable or unwilling to meet it. The
resulting inertia is keeping sales low.”
The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a
ratio of 11 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20
per cent.
“Currently, uncertainty is impacting all corners of the real estate and development sector,” said Baldev Gill,
CEO of the Fraser Valley Real Estate Board, “and as a result, we are seeing markedly lower seasonal
activity. As we navigate these challenges, your local REALTOR® — with firsthand market insight and access
to the latest data — is a valuable resource to help guide you through the critical timing decisions for buying
or selling.”
Across the Fraser Valley in March, the average number of days to sell a single-family detached home was
31, while for a condo it was slightly higher at 33 days. Townhomes took, on average, 27 days to sell.
The composite Benchmark price in the Fraser Valley increased just under half a per cent in March, up 0.4
per cent to $974,400.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,505,500, the Benchmark price for an FVREB single-family detached
home increased 0.4 per cent compared to February 2025 and decreased 1.2 per cent compared to
March 2024.
• Townhomes: At $833,700 the Benchmark price for an FVREB townhome increased 0.5 per cent
compared to February 2025 and decreased 1.7 per cent compared to March 2024.
• Apartments: At $540,900 the Benchmark price for an FVREB apartment/condo increased 0.5 per
cent compared to February 2025 and decreased 2.6 per cent compared to March 2024.

For more stats and details, click HERE.

Greater Vancouver March 2025 Stats: Buyer's Market is Missing Buyers

Mon, 07 Apr 2025 23:04:33 GMT

VANCOUVER, BC – Home sales registered on the MLS® in Metro Vancouver*
for the month of March were the lowest going back to 2019 for the same month, while active
listings continue to their upward trend.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
2,091 in March 2025, a 13.4 per cent decrease from the 2,415 sales recorded in March 2024.
This was 36.8 per cent below the 10-year seasonal average (3,308).
“If we can set aside the political and economic uncertainty tied to the new U.S. administration
for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in
years,” said Andrew Lis, GVR’s director of economics and data analytics. “Prices have eased
from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are
more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to
engage — but so far, buyers have not shown up in the numbers we typically see at this time
of year.”

There were 6,455 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in March 2025. This represents a 29 per
cent increase compared to the 5,002 properties listed in March 2024. This was 15.8 per cent
above the 10-year seasonal average (5,572).

The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 14,546, a 37.9 per cent increase compared to March 2024 (10,552). This is 44.9
per cent above the 10-year seasonal average (10,038).

Across all detached, attached and apartment property types, the sales-to-active listings ratio
for March 2025 is 14.9 per cent. By property type, the ratio is 10.3 per cent for detached
homes, 21.5 per cent for attached, and 16.2 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.

“The current market bares resemblance to early 2023 where price trends were generally flat,
and sales started the year off slowly before gaining momentum in the spring and summer
months,” Lis said. “While market conditions overall remain balanced, it’s worth noting that the
attached segment continues teetering on the threshold of a sellers’ market as a result of a
chronic undersupply, with only about 2,200 active listings available for prospective buyers
throughout the entire region.”

The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,190,900. This represents a 0.6 per cent decrease over March
2024 and a 0.5 per cent increase compared to February 2025.
Sales of detached homes in March 2025 reached 527, a 24.1 per cent decrease from the 694
detached sales recorded in March 2024. The benchmark price for a detached home is
$2,034,400. This represents a 0.8 per cent increase from March 2024 and a 0.4 per cent
increase compared to February 2025.

Sales of apartment homes reached 1,084 in March 2025, a 10.2 per cent decrease compared
to the 1,207 sales in March 2024. The benchmark price of an apartment home is $767,300.
This represents a 0.9 per cent decrease from March 2024 and a 1 per cent increase compared
to February 2025.

Attached home sales in March 2025 totalled 472, a 4.6 per cent decrease compared to the
495 sales in March 2024. The benchmark price of a townhouse is $1,113,100. This represents a
0.8 per cent decrease from March 2024 and a 0.2 per cent increase compared to February
2025.

For more stats and details, click HERE.

GVR February 2025 stats: Price steady despite more listings

Thu, 06 Mar 2025 21:18:45 GMT

Homes newly listed on the MLS® in Metro Vancouver* rose 46 per cent year-over-year in January, as sellers appear eager to enter the market to start the year. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,552 in January 2025, an 8.8 per cent increase from the 1,427 sales recorded in January 2024. This was 11.3 per cent below the 10-year seasonal average (1,749).

“In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the new year,” Andrew Lis, GVR’s director of economics and data analytics said. “Even with this increase in new listing activity, sales continue to outpace last years’ figures, signaling some buyer appetite remains after the upswing that finished off 2024.”

There were 5,566 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2025. This represents a 46.9 per cent increase compared to the 3,788 properties listed in January 2024. This was 31.1 per cent above the 10-year seasonal average (4,247). The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 11,494, a 33.1 per cent increase compared to January 2024 (8,633). This is 33.2 per cent above the 10-year seasonal average (8,632). Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2025 is 14.1 per cent.

By property type, the ratio is 9.2 per cent for detached homes, 18.5 per cent for attached, and 16.5 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.

“With new listings outpacing demand to start 2025, price trends saw little fluctuation in January across all segments, with the market overall standing in balanced conditions,” Lis said. “Our 2025 forecast calls for moderate price growth by the end of the year, but we have cautioned that shocks to the economy such as those currently threatening Canada via tariffs from the US could impact these estimates. Going forward, whether these tariffs actually come into force, the duration they remain in place, and the degree to which Canada retaliates will determine the impact to the housing market in our region in the months ahead, if any.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,173,000. This represents a 0.5 per cent increase over January 2024 and a 0.1 per cent increase compared to December 2024. Sales of detached homes in January 2025 reached 380, a 0.3 per cent increase from the 379 detached sales recorded in January 2024. The benchmark price for a detached home is $2,005,400. This represents a 3.1 per cent increase from January 2024 and a 0.4 per cent increase compared to December 2024. Sales of apartment homes reached 846 in January 2025, a 13.4 per cent increase compared to the 746 sales in January 2024.

The benchmark price of an apartment home is $748,100. This represents a 1.7 per cent decrease from January 2024 and a 0.2 per cent decrease compared to December 2024. Attached home sales in January 2025 totalled 321, a 12.6 per cent increase compared to the 285 sales in January 2024.

The benchmark price of a townhouse is $1,105,600. This represents a 2.7 per cent increase from January 2024 and a 0.8 per cent decrease compared to December 2024.

For more stats, CLICK HERE

FVRB February 2025 Stats: Sales up but behind 10 year avg.

Thu, 06 Mar 2025 21:14:39 GMT

Buyers gaining upper hand in Fraser Valley real estate market
SURREY, BC – For the first time in four months, home sales in the Fraser Valley have increased as buyers
capitalize on more selection and weakening prices.
The Fraser Valley Real Estate Board recorded 920 sales in February, up 13 per cent from January, but 26 per
cent below sales recorded in February 2024.
Despite a nine per cent drop in newly listed homes on the Board’s Multiple Listing Service® (MLS®), new
listings remained 14 per cent above the 10-year seasonal average, at 3,121. Overall inventory remains high,
at 8,070 active listings, 45 per cent above February 2024 and 55 per cent above the 10-year seasonal
average.
The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a
ratio of 11 per cent. The market is considered to be balanced with the ratio is between 12 per cent and 20
per cent.
“The combination of inventory accumulation and softening prices is providing buyers with increased
leverage, especially in the single-family detached category,” said Baldev Gill, CEO of the Fraser Valley Real
Estate Board. “Should this pattern persist, we could see a further shift toward a buyer's market, particularly
given the ongoing economic uncertainties and impending tariffs. With ample selection, buyers have
flexibility and time on their side to explore their options before making a decision.”
Homes across the Fraser Valley sold in fewer days in February compared to January. The average number of
days to sell a single-family detached home was 39, while for a condo it was 36. Townhomes took, on
average, 32 days to sell.
The composite Benchmark price in the Fraser Valley dipped less than a quarter of a per cent in February,
down 0.2 per cent to $962,500.

MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,489,100, the Benchmark price for an FVREB single-family detached
home increased 0.5 per cent compared to January 2025 and decreased 0.6 per cent compared to
February 2024.
• Townhomes: At $820,600, the Benchmark price for an FVREB townhome decreased 0.7 per cent
compared to January 2025 and decreased 2.1 per cent compared to February 2024.
• Apartments: At $533,200 the Benchmark price for an FVREB apartment/condo decreased 0.3 per
cent compared to January 2025 and decreased 2.4 per cent compared to February 2024.

For more stats, CLICK HERE

FVRB January 2025 Stats: Decade-high inventory good for Buyers

Wed, 05 Feb 2025 17:18:36 GMT

SURREY, BC – Growing inventory and stable prices could lead to opportunities for buyers in the Fraser
Valley market this winter despite uncertain economic conditions.

Newly listed homes jumped 167 per cent from December to January, with 3,432 listed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). At 7,251 active listings, inventory is at a 10-year seasonal high, 54 per cent above the 10-year average.

While sales remained slow in January, with 818 properties sold (down 18% from December), the
combination of stable prices and abundant selection presents potential opportunities for buyers to get
back into the market.

The sales-to-active listings ratio appears to bear this out. At 11 per cent, the overall ratio is signaling a
buyer’s market, with detached homes firmly in buyer’s market territory. The market is considered to be
balanced when the ratio is between 12 per cent and 20 per cent.

It took longer to sell homes in January compared to December. Across the Fraser Valley, the average
number of days to sell a single-family detached home was 52, while for a condo it was 42. Townhomes
took, on average, 38 days to sell.

“The market appears to be in a holding pattern at the moment,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “There is no doubt that economic uncertainty is playing a role, especially the spectre of a trade war, which could lead to even more rate cuts by the Bank of Canada. The confluence of these conditions could provide unique buying opportunities, but we urge buyers and sellers to work with a REALTOR® to ensure they align with financial objectives.”

Benchmark prices in the Fraser Valley held relatively steady in January, with the composite Benchmark
price down 0.03 per cent to $964,800.

MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,482,400, the Benchmark price for an FVREB single-family detached
home increased 0.1 per cent compared to December 2024 and increased 0.6 per cent compared to
January 2024.
• Townhomes: At $826,000, the Benchmark price for an FVREB townhome decreased 0.2 per cent
compared to December 2024 and decreased 0.2 per cent compared to January 2024.
• Apartments: At $534,600, the Benchmark price for an FVREB apartment/condo increased 0.1 per
cent compared to December 2024 and decreased 1.2 per cent compared to January 2024.

For more stats in the Fraser Valley from January, CLICK HERE.

GVR January 2025 stats: Home sellers off to an active start in 2025

Tue, 04 Feb 2025 16:51:08 GMT

Homes newly listed on the MLS® in Metro Vancouver rose 46 per cent year-over-year in January, as sellers appear eager to enter the market to start the year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,552 in January 2025, an 8.8 per cent increase from the 1,427 sales recorded in January 2024. This was 11.3 per cent below the 10-year seasonal average (1,749).

“In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the New Year,” Andrew Lis, GVR’s director of economics and data analytics said. “Even with this increase in new listing activity, sales continue to outpace last years’ figures, signaling some buyer appetite remains after the upswing that finished off 2024.”

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 11,494, a 33.1 per cent increase compared to January 2024 (8,633). This is 33.2 per cent above the 10-year seasonal average (8,632).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2025 is 14.1 per cent. By property type, the ratio is 9.2 per cent for detached homes, 18.5 per cent for attached, and 16.5 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.

Sales of detached homes in January 2025 reached 380, a 0.3 per cent increase from the 379 detached sales recorded in January 2024. The benchmark price for a detached home is $2,005,400. This represents a 3.1 per cent increase from January 2024 and a 0.4 per cent increase compared to December 2024.

Sales of apartment homes reached 846 in January 2025, a 13.4 per cent increase compared to the 746 sales in January 2024. The benchmark price of an apartment home is $748,100. This represents a 1.7 per cent decrease from January 2024 and a 0.2 per cent decrease compared to December 2024.

Attached home sales in January 2025 totalled 321, a 12.6 per cent increase compared to the 285 sales in January 2024. The benchmark price of a townhouse is $1,105,600. This represents a 2.7 per cent increase from January 2024 and a 0.8 per cent decrease compared to December 2024.

For more stats CLICK HERE!

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Thu, 23 Jan 2025 09:00:18 GMT

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Greater Vancouver Year End - December 2024

Mon, 06 Jan 2025 23:52:46 GMT

Home sales register a strong finish to cap off 2024

Home sales registered on the Multiple Listing Service® (MLS®) in Metro Vancouver rose over thirty per cent in December, compared to the previous year, signalling strengthening demand-side momentum to close out 2024.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 26,561 in 2024, a 1.2 per cent increase from the 26,249 sales recorded in 2023, and a 9.2 per cent decrease from the 29,261 sales in 2022.

Last year’s sales total was 20.9 per cent below the 10-year annual sales average (33,559).

“Looking back on 2024, it could best be described as a pivot year for the market after experiencing such dramatic increases in mortgage rates in the preceding years,” said Andrew Lis, GVR’s director of economics and data analytics. “With borrowing costs now firmly on the decline, buyers have started to show up in numbers after somewhat of a hiatus – and this renewed strength is now clearly visible in the more recent monthly data.”

Properties listed on the MLS® system in Metro Vancouver totalled 60,388 in 2024. This represents an 18.7 per cent increase compared to the 50,894 properties listed in 2023. This was 9.7 per cent above the 55,047 properties listed in 2022.

The total number of properties listed last year was 5.7 per cent above the region’s 10-year annual average (57,136).

Currently, the total number of homes listed for sale on the MLS® system in Metro Vancouver is 10,948, a 24.4 per cent increase compared to December 2024 (8,802). This total is also 25.3 per cent above the 10-year seasonal average (8,737).

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,171,500. This represents a 0.5 per cent increase over December 2023 and a 0.1 per cent decrease compared to November 2024.

“Disappointingly, sales came in shy of our forecasted target for the year, but the December figures signal an emerging pattern of strength in home sales, building on the momentum seen in previous months,” Lis said. “These more recent sales figures are now trending back towards long-term historical averages, which suggests there may still be quite a bit of potential upside for sales as we head into 2025, should the recent strength continue.

“Although sales activity had a slower start to the year, price trends began 2024 on the rise and closed out the year on a flatter trajectory. Most market segments saw year-over-year increases of a few per cent except for apartment units, which ended 2024 roughly flat. With the data showing renewed strength to finish the year however, it looks as though the 2025 market is positioned to be considerably more active than we’ve seen in recent years.”

December 2024 summary

Residential sales in the region totalled 1,765 in December 2024, a 31.2 per cent increase from the 1,345 sales recorded in December 2023. This was 14.9 per cent below the 10-year seasonal average (2,074) for the month.

There were 1,676 detached, attached and apartment properties newly listed for sale on the MLS® system in Metro Vancouver in December 2024. This represents a 26.3 per cent increase compared to the 1,327 properties listed in December 2023. This was 1.1 per cent below the 10-year seasonal average (1,695).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for December 2024 is 16.8 per cent. By property type, the ratio is 12.1 per cent for detached homes, 23.6 per cent for attached, and 18.7 per cent for apartments.

Sales of detached homes in December 2024 reached 494, a 31.4 per cent increase from the 376 detached sales recorded in December 2023. The benchmark price for a detached home is $1,997,000. This represents a two per cent increase from December 2023 and is nearly unchanged compared to November 2024.

Sales of apartment homes reached 891 in December 2024, a 23.9 per cent increase compared to the 719 sales in December 2023. The benchmark price of an apartment home is $749,900. This represents a 0.1 per cent decrease from December 2023 and a 0.4 per cent decrease compared to November 2024.

Attached home sales in December 2024 totalled 371, a 55.9 per cent increase compared to the 238 sales in December 2023. The benchmark price of a townhouse is $1,114,600. This represents a 3.4 per cent increase from December 2023 and a 0.3 per cent decrease compared to November 2024.

For more stats and details, click HERE

Fraser Valley Year End - December 2024

Mon, 06 Jan 2025 23:49:40 GMT

New listings at 10-year high in 2024, but affordability still the elephant in the room in Fraser Valley

SURREY, BC – Bank of Canada interest rate cuts that began mid-year were not enough to ease the affordability crisis for many home buyers in the Fraser Valley in 2024, leading to a decline in annual sales.

The Fraser Valley Real Estate Board reported new listings of 35,698 for the year ended December 31, 2024, a 10-year high and nine per cent above the 10-year average. However, annual sales recorded on the Multiple Listing Service® (MLS®) were the lowest seen in ten years at 14,570, a decline of one per cent over 2023 and 24 per cent below the 10-year average. The City of Surrey accounted for the majority of 2024 sales at 51 per cent, with Langley and Abbotsford accounting for 24 per cent and 15 per cent respectively.

“2024 marked another subdued year for Fraser Valley home sales on the heels of a ten-year low in 2023,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “Slight declines in home prices across some areas of the region provided negligible relief for buyers looking to get into the market. At the same time, the modest price adjustments did not discourage sellers from listing.”

The composite Benchmark home price in the Fraser Valley closed the year at $965,000, down two per cent year-over-year, and down four per cent from its 2024 peak in March.

December 2024

The Board recorded 994 sales on its MLS® in December, a decline of 13 per cent from November, but 19 per cent above sales from December 2023.

New listings declined 46 per cent from November to December, from 2,367 to 1,288, contributing to a 23 per cent decline in overall inventory in December. With a sales-to-active listings ratio of 16 per cent in December, the overall market closed out the year in balance. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“While the Fraser Valley saw overall balanced market conditions for most of 2024, the low levels of buying and selling activity reflected a challenging year for many as would-be buyers waited for affordability to improve,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Interest rate cuts by the Bank of Canada along with recent government policies aimed at boosting overall housing supply and improving affordability, should help to increase market conditions in 2025.”

It took longer to sell townhomes and condos in December compared to November. Townhomes spent 36 days on the market, up from 33 days in November, while condos spent 38 days on the market, up from 36 days in the previous month. Single-family homes spent 43 days on the market — no change from November.

The composite Benchmark home price in the Fraser Valley continued to slide for the ninth straight month, down 0.5 per cent compared to November.

To read the full statistics package, click here.

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Fri, 20 Dec 2024 09:00:18 GMT

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Fraser Valley November 2024 Stats

Tue, 03 Dec 2024 20:40:41 GMT

Following a healthy boost in sales in October, Fraser Valley home sales dropped in November
as slower seasonal buying trends set in amid balanced market conditions.

The Fraser Valley Real Estate Board recorded 1,136 sales in November, down 15 per cent from October, but
28 per cent above November 2023 sales.
“Buying and selling activity is typically quiet at this time of year,” said Jeff Chadha, Chair of the Fraser Valley
Real Estate Board. “But it’s worth noting that November 2024 sales are higher than they’ve been compared
to the past two Novembers — a sign that overall activity is picking up in the Fraser Valley and with it,
growing buyer confidence.”

A decline in new listings chipped away at overall inventory in November, with active listings declining eight
per cent to 8,125. Overall inventory, however, remains at a 10-year seasonal high and 30 per cent above
November 2023 levels. New listings dropped 26 per cent in November to 2,367, but remain above the 10-
year seasonal average and above levels from November 2023. The Fraser Valley remains in a balanced
market with a sales-to-active ratio of 14 per cent. The market is considered to be balanced when the ratio
is between 12 per cent and 20 per cent.

“With seasonality expected to slow sales activity towards year-end, we are optimistic that the new
mortgage lending guidelines, which come into effect on December 15, will slowly start to work their way
into the market,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Longer amortization periods
and lower minimum down payments should help more buyers who want to get into the market in 2025.”

Across the Fraser Valley in November, the average number of days to sell a single-family detached home
was 43, while for a condo it was 36. Townhomes took, on average, 33 days to sell.
Benchmark prices in the Fraser Valley dipped for the eighth straight month in November, with the
composite Benchmark price down 0.2 per cent to $969,500.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,482,600, the Benchmark price for an FVREB single-family detached
home decreased 0.4 per cent compared to October 2024 and decreased 0.1 per cent compared to
November 2023.
• Townhomes: At $835,100, the Benchmark price for an FVREB townhome increased 0.3 per cent
compared to October 2024 and decreased 0.2 per cent compared to November 2023.
• Apartments: At $536,100, the Benchmark price for an FVREB apartment/condo decreased 1.3 per
cent compared to October 2024 and decreased 1.2 per cent compared to November 2023.

For more stats and details, CLICK HERE.

Vancouver Board Stats November 2024: Buyer demand increases

Tue, 03 Dec 2024 19:29:47 GMT

Home sales registered in the MLS® in the Metro Vancouver market rose 28 percent year-over-year in November, building on the momentum of the 30 percent year-over-year increase seen in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,181 in November 2024, a 28.1 per cent increase from the 1,702 sales recorded in November 2023. This was 12.8 per cent below the 10-year seasonal average (2,500).

“When we saw demand pick up in October, there was still a question over whether it was a blip in the data or the start of an emerging trend,” Andrew Lis, GVR’s director of economics and data analytics said. “While the November market isn’t quite a Cyber Monday door-crasher, buyers are continuing to take advantage of the relatively balanced market conditions while they last.”

There were 3,725 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2024. This represents a 10.6 per cent increase compared to the 3,369 properties listed in November 2023. This was 5.4 per cent above the 10-year seasonal average (3,535).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,245, a 21.2 per cent increase compared to November 2023 (10,931). This is 26.1 per cent above the 10-year seasonal average (10,502).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for November 2024 is 17.1 per cent. By property type, the ratio is 12.7 per cent for detached homes, 23.1 per cent for attached, and 18.7 per cent for apartments.

“Although demand has increased as we head into year-end, the number of newly listed properties coming to market in November remained sufficient to keep prices steady across all segments,” Lis said. “But as we move into the New Year, if the strength in demand continues at the current pace, and the pace of newly listed properties coming to market doesn’t keep up, it may not be long until we see the return of upward pressure on prices.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,172,100. This represents a 0.9 per cent decrease over November 2023 and nearly unchanged compared to October 2024.

Sales of detached homes in November 2024 reached 626, a 19.7 per cent increase from the 523 detached sales recorded in November 2023. The benchmark price for a detached home is $1,997,400. This represents a one per cent increase from November 2023 and a 0.3 per cent decrease compared to October 2024.

Sales of apartment homes reached 1,089 in November 2024, a 28.1 per cent increase compared to the 850 sales in November 2023. The benchmark price of an apartment home is $752,800. This represents a 1.2 per cent decrease from November 2023 and a 0.6 per cent decrease compared to October 2024.

Attached home sales in November 2024 totalled 451, a 42.7 per cent increase compared to the 316 sales in November 2023. The benchmark price of a townhouse is $1,117,600. This represents a 1.8 per cent increase from November 2023 and a 0.8 per cent increase compared to October 2024.

For more stats and details, CLICK HERE.

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Tue, 03 Dec 2024 09:00:18 GMT

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Tue, 19 Nov 2024 09:00:18 GMT

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Greater Vancouver October Stats: Buyer Demand Surge

Mon, 04 Nov 2024 03:06:00 GMT

After months of tracking approximately twenty per cent below the ten-year seasonal average, Metro Vancouver home sales surged more than 30 per cent year-over-year in October.

The Greater Vancouver REALTORS® (GVR) reports that residential sales registered on the Multiple Listing Service® (MLS®) in the region totalled 2,632 in October 2024, a 31.9 per cent increase from the 1,996 sales recorded in October 2023. This was 5.5 per cent below the 10-year seasonal average (2,784).

“Typically, reductions to mortgage rates boost demand, and the strong October sales numbers suggest buyers may finally be responding to lower borrowing costs after waiting on the sidelines for months,” Andrew Lis, GVR’s director of economics and data analytics said. “To some market watchers, this rebound may come as a surprise, but with four consecutive rate cuts from the Bank of Canada – and more likely to come on the horizon – it was only a matter of time until signs of renewed strength in demand showed up.”

There were 5,452 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in October 2024. This represents a 16.9 per cent increase compared to the 4,664 properties listed in October 2023. This was 20 per cent above the 10-year seasonal average (4,545).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,477, a 24.8 per cent increase compared to October 2023 (11,599). This total is also 26.2 per cent above the 10-year seasonal average (11,475).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for October 2024 is 18.8 per cent. By property type, the ratio is 13.4 per cent for detached homes, 22.5 per cent for attached, and 22.2 per cent for apartments.

“While the strength in October's numbers is encouraging, one data point does not make a trend," Lis said. "Recent data shows that market conditions have been decidedly balanced, with prices easing over the past few months. With the recent uptick in sales however, the attached and apartment segments are now tilting toward a seller’s market with the detached segment not far behind, suggesting the recent period of price moderation may be nearing an end."

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is $1,172,200. This represents a 1.9 per cent decrease over October 2023 and a 0.6 per cent decrease compared to September 2024.

Sales of detached homes in October 2024 reached 724, a 25.5 per cent increase from the 577 detached sales recorded in October 2023. The benchmark price for a detached home is $2,002,900. This represents a 0.3 per cent increase from October 2023 and a 1 per cent decrease compared to September 2024.

Sales of apartment homes reached 1,393 in October 2024, a 33.4 per cent increase compared to the 1,044 sales in October 2023. The benchmark price of an apartment home is $757,200. This represents a 1.6 per cent decrease from October 2023 and a 0.6 per cent decrease compared to September 2024.

Attached home sales in October 2024 totalled 501, a 40.7 per cent increase compared to the 356 sales in October 2023. The benchmark price of a townhouse is $1,108,800. This represents a 0.4 per cent increase from October 2023 and a 0.9 per cent increase compared to September 2024.

For More local stats CLICK HERE

Fraser Valley October Stats: Sales increase

Sun, 03 Nov 2024 03:11:00 GMT

Home sales in the Fraser Valley increased for the first time in five months following a sizable
interest rate cut by the Bank of Canada in October.

The Fraser Valley Real Estate Board recorded 1,330 sales in October, up 35 per cent from September, and 37 per cent year-over-year.
“After waiting it out on the sidelines for a number of months, buyers seem to be finally responding to the series of successive rate cuts by the Bank of Canada,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “Whether this is an indication of further sales trends, remains to be seen, especially as the feds eye a possible additional cut before year-end.”

New listings declined in October, down 5 per cent to 3,194, but increased 26 per cent year-over-year.
Overall inventory dipped in October to 8,799, down three per cent from September, but up 34 per cent
over last year. Rising sales and steady inventory levels have the Fraser Valley in a balanced market with a sales-to-active ratio of 15 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

“October’s healthy sales boost is a welcome development for buyers and sellers alike,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “The coming weeks and months will shed more light on whether buyer optimism has returned now that the cycle of interest rate cuts is in full swing.”
Across the Fraser Valley in October, the average number of days to sell a single-family detached home was 34, while for a condo it was 32. Townhomes took, on average, 29 days to sell.
Benchmark prices in the Fraser Valley dipped for the seventh straight month in October, with the
composite Benchmark price down 0.7 per cent to $971,700.

MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,488,000, the Benchmark price for an FVREB single-family detached
home decreased 0.9 per cent compared to September 2024 and decreased 0.6 per cent compared
to October 2023.
• Townhomes: At $832,200, the Benchmark price for an FVREB townhome decreased 0.3 per cent
compared to September 2024 and decreased 1.4 per cent compared to October 2023.
• Apartments: At $543,300, the Benchmark price for an FVREB apartment/condo decreased 0.3 per
cent compared to September 2024 and increased 0.1 per cent compared to October 2023.

For more Fraser Valley stats CLICK HERE

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Sat, 02 Nov 2024 09:00:18 GMT

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I have sold a property at 2818 WESTLAKE DR in Coquitlam

Thu, 10 Oct 2024 09:00:18 GMT

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New property listed in Port Moody Centre, Port Moody

Fri, 04 Oct 2024 09:00:20 GMT

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Fraser Valley Stats: September 2024

Fri, 04 Oct 2024 05:03:00 GMT

With active inventories hitting levels not seen in 10 years and sales 30 per cent below the 10- year average, Fraser Valley real estate is building towards a buyer’s market if sales continue to lag.

The Fraser Valley Real Estate Board recorded 982 sales in September, down by eight per cent over August and by more than 10 per cent over September 2023. Again, seasonally adjusted sales were the second slowest in a decade in the Fraser Valley. “With three rate cuts already and more expected before the end of the year, buyers are watching the market closely to time their purchasing decisions,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “The current conditions should favour buyers, particularly in the detached market, however until we start to see some movement in asking prices, properties will continue to sit on the market for extended periods as both buyers and sellers await the next rate announcement.”

New listings rose in September, up 21 per cent to 3,352, an increase of 17 per cent year-over-year. Overall inventory increased five per cent from August to September to 9,045, up 39 per cent over last year. The combination of declining sales and rising inventories has helped to create balanced, and in some cases, buyers’, market conditions in the Fraser Valley. “We know the demand is there among Fraser Valley buyers,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “After months on the sidelines, buyers want to get into the market but many also need to sell before they can buy. When you factor in affordability challenges and the anticipation of more interest rate cuts, we are seeing persistent weakness in the market. In conditions like these, we encourage buyers and sellers alike to talk to their REALTOR® to assess the risks and opportunities before making a decision.”

Across the Fraser Valley in September, the average number of days to sell a single-family detached home was 35, while for a condo it was 37. Townhomes took, on average, 30 days to sell. Benchmark prices in the Fraser Valley dipped again in September, with the composite Benchmark price down 1.4 per cent to $978,800.

MLS® HPI Benchmark Price Activity • Single Family Detached: At $1,501,100, the Benchmark price for an FVREB single-family detached home decreased 1.5 per cent compared to August 2024 and decreased 1.3 per cent compared to September 2023. • Townhomes: At $834,400, the Benchmark price for an FVREB townhome decreased 1.4 per cent compared to August 2024 and decreased 1.6 per cent compared to September 2023. • Apartments: At $545,000, the Benchmark price for an FVREB apartment/condo decreased 0.2 per cent compared to August 2024 and increased 0.4 per cent compared to September 2023.

For more stats on the Fraser Valley market, CLICK HERE!

Greater Vancouver Realtor Stats - September 2024

Thu, 03 Oct 2024 05:01:00 GMT

Home sales registered on the MLS® in Metro Vancouver declined 3.8 per cent year over year in September, suggesting recent reductions in borrowing costs are having a limited effect in spurring demand so far.

Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
1,852 in September 2024, a 3.8 per cent decrease from the 1,926 sales recorded in September
2023. This was 26 per cent below the 10-year seasonal average (2,502).

“Real estate watchers have been monitoring the data for signs of renewed strength in
demand in response to recent mortgage rate reductions, but the September figures don’t
offer the signal that many are watching for,” Andrew Lis, GVR’s director of economics and
data analytics said. “Sales continue trending roughly 25 per cent below the ten-year seasonal
average in the region, which, believe it or not, is a trend that has been in place for a few years
now. With the September data, sales are now tracking slightly below our forecast however,
but we remain optimistic sales will still end 2024 higher than 2023.”

There were 6,144 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in September 2024. This represents a
12.8 per cent increase compared to the 5,446 properties listed in September 2023. This was
also 16.7 per cent above the 10-year seasonal average (5,266).

The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 14,932, a 31.2 per cent increase compared to September 2023 (11,382). This is
24.2 per cent above the 10-year seasonal average (12,027).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for September 2024 is 12.8 per cent. By property type, the ratio is 9.1 per cent for detached homes, 16.9 per cent for attached, and 14.6 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.

“With some buyers choosing to stay on the sidelines, inventory levels have sustained the
healthy gains achieved over the course of this year, providing much more selection to anyone
searching for a home,” Lis said.

With all this choice available, prices have trended sideways for the past few months. The
September figures, however, are now showing modest declines across all segments on a
month over month basis. This downward pressure on prices is a result of sales not keeping
pace with the number of newly listed properties coming to market, which has now put the
overall market on the cusp of a buyers’ market. With two more policy rate decisions to go this
year, and all signs pointing to further reductions, it’s not inconceivable that demand may still
pick up later this fall should buyers step off the sidelines.”

The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,179,700. This represents a 1.8 per cent decrease over
September 2023 and a 1.4 per cent decrease compared to August 2024.

Sales of detached homes in September 2024 reached 516, a 9.8 per cent decrease from the 572 detached sales recorded in September 2023. The benchmark price for a detached home is $2,022,200. This represents a 0.5 per cent increase from September 2023 and a 1.3 per cent decrease compared to August 2024.

Sales of apartment homes reached 940 in September 2024, a 4.9 per cent decrease
compared to the 988 sales in September 2023. The benchmark price of an apartment home is
$762,000. This represents a 0.8 per cent decrease from September 2023 and a 0.8 per cent
decrease compared to August 2024.

Attached home sales in September 2024 totalled 378, a 7.4 per cent increase compared to
the 352 sales in September 2023. The benchmark price of a townhouse is $1,099,200. This
represents a 0.5 per cent decrease from September 2023 and a 1.8 per cent decrease
compared to August 2024.

For more stats and details, CLICK HERE!

New property listed in Coquitlam East, Coquitlam

Wed, 11 Sep 2024 09:00:17 GMT

I have listed a new property at 2818 WESTLAKE DR in Coquitlam. See details here

Absolutely Stunning Professionally Designed and Renovated "Forever Home" in fabulous Coquitlam location walking distance to all levels of schools! Main Floor: Kitchen: Open Concept, Dovetailed Drawers, with Pull out Pantry Organizers, Thermador Gas Range, Integrated Fridge & Dishwasher, Quartz Countertops and Massive Quartz Work Island / Breakfast Bar complete with Prep Sink! Stunning Living Room: Window Shutters, Linear Fireplace, New Vinyl Plank Flooring Throughout, New Powder Room, Laundry. Upstairs: Luxurious Primary Bedroom, California Closet Built in Organizers, 2nd and 3rd Bedrooms with California Closets, Massive Games Room (possible 4th bedroom). The Award winning backyard is a show stopper! Covered Composite Deck for year round enjoyment, complete with Electric Privacy Screens, low maintenance artificial turf, and fully fenced. Hardiboard Exterior Siding, 1" Rigid Insulation Foam, Laminated Windows, New Doors. Bonus Crawl Space (near 4') for storage, wine cellar. Too much to list. By appointment.

Greater Vancouver August 2024 Stats: Warm weather, cooler sales

Sat, 07 Sep 2024 19:40:58 GMT

– Home sales registered on the MLS® in Metro
Vancouver remained below their ten-year seasonal averages in August as summer holidays
come to a close.
Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
1,904 in August 2024, a 17.1 per cent decrease from the 2,296 sales recorded in August 2023.
This total was also 26 per cent below the 10-year seasonal average (2,572).

“From a seasonal perspective, August is typically a slower month for sales than June or July. In
this respect, this August has been no different,” Andrew Lis, GVR’s director of economics and
data analytics said. “With that said, sales remain in a holding pattern, trending roughly 20 per
cent below their 10-year seasonal average, which suggests buyers are still feeling the pinch of
higher borrowing costs, despite two recent quarter percentage point reductions to the policy
rate this summer.”

There were 4,109 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in August 2024. This represents a 4.2 per
cent increase compared to the 3,943 properties listed in August 2023. This total was 1.7 per
cent below the 10-year seasonal average (4,179).

The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 13,812, a 37 per cent increase compared to August 2023 (10,082). This total is
also 20.8 per cent above the 10-year seasonal average (11,432).

Across all detached, attached and apartment property types, the sales-to-active listings ratio
for August 2024 is 14.3 per cent. By property type, the ratio is 9.6 per cent for detached
homes, 18 per cent for attached, and 17.2 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.

“Buyers’ hesitancy to enter the market, paired with new listing activity on the part of sellers
that is in line with historical averages, has allowed inventory to accumulate for a number of
months and has moved the market firmly into balanced conditions,” Lis said.
“With the Bank of Canada’s decision to reduce the policy rate today by another quarter

percentage point, and with September being a month that typically sees an increase in sales
from a seasonal perspective, the fall market is set up to bring more buyers off the sidelines.
We will watch the upcoming September data to see whether they decide to show up.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,195,900. This represents a 0.9 per cent decrease over August
2023 and a 0.1
3 per cent decrease compared to July 2024.
Sales of detached homes in August 2024 reached 509, a 13.9 per cent decrease from the 591
detached sales recorded in August 2023. The benchmark price for a detached home is
$2,048,400. This represents a 1.8 per cent increase from August 2023 and a 0.1 per cent
decrease compared to July 2024.
Sales of apartment homes reached 1,012 in August 2024, a 20.3 per cent decrease compared
to the 1,270 sales in August 2023. The benchmark price of an apartment home is $768,200.
This represents a 0.1 per cent decrease from August 2023 and is unchanged compared to
July 2024.
Attached home sales in August 2024 totalled 370, a 12.3 per cent decrease compared to the
422 sales in August 2023. The benchmark price of a townhouse is $1,119,300. This represents a
0.8 per cent increase from August 2023 and a 0.5 per cent decrease compared to July 2024.

For more details and stats, CLICK HERE.

Fraser Valley August 2024: Summer slow down

Sat, 07 Sep 2024 19:29:12 GMT

The Fraser Valley residential resale market slowed again in August, as homebuyers continue
to face affordability challenges.
The Fraser Valley Real Estate Board recorded 1,067 sales in August, down by 13 per cent over last month
and by 30 per cent over the 10-year seasonal average. August sales were the second slowest seasonally
adjusted sales in a decade.
Inventory levels in the Fraser Valley dipped slightly in August with active listings at 8,626, down one per
cent from July, but 37 per cent higher than August 2023.
“Despite two policy rate cuts by the Bank of Canada, buyers are still feeling the squeeze of overall
affordability challenges in BC,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “With prices
for single-family homes, townhouses and condos holding relatively flat year-over-year, many continue to
face challenges buying their first home or moving up in the market, as reflected in seasonally slow August
sales.”
New listings dropped nearly 20 per cent in August, to 2,778. With a sales-to-active listings ratio of 12 per
cent, overall market conditions are just shy of a buyer’s market. The market is considered balanced when
the ratio is between 12 per cent and 20 per cent. The last time the Fraser Valley dipped into buyer’s market
territory was spring 2020.
“Buyers continue to wait on the sidelines in anticipation of more cuts to the Bank of Canada’s policy rate,”
said FVREB CEO Baldev Gill. “However, we encourage anyone looking to get into the market to speak with
their REALTOR® and lending professional to fully understand where interest rates may be heading in the
coming months to determine the optimal long-term strategy.”
Across the Fraser Valley in August, the average number of days to sell a single-family detached home was
33, while for a condo it was 32. Townhomes took, on average, 28 days to sell.
Benchmark prices in the Fraser Valley dipped again in August, with the composite Benchmark price at
$992,800.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,523,500, the Benchmark price for an FVREB single-family detached
home decreased 0.4 per cent compared to July 2024 and decreased 0.4 per cent compared to
August 2023.
• Townhomes: At $846,300, the Benchmark price for an FVREB townhome decreased 0.3 per cent
compared to July 2024 and increased 0.1 per cent compared to August 2023.
• Apartments: At $546,200, the Benchmark price for an FVREB apartment/condo decreased 0.9 per
cent compared to July 2024 and decreased 0.8 per cent compared to August 2023.

For more stats, CLICK HERE.

I have sold a property at 211 3136 ST JOHNS ST in Port Moody

Thu, 29 Aug 2024 09:00:19 GMT

I have sold a property at 211 3136 ST JOHNS ST in Port Moody on Aug 20, 2024. See details here

This beautiful Port Moody 2 BED + 2 BATH home has TWO patios with westerley Mountain views! Newer vinyl plank flooring throughout and new silestone kitchen counters give a bright, spacious and clean look. The living room has a gas fireplace (gas included in strata fee) while the bedrooms are separated for privacy with the large primary having a Walk-in-closet. In-suite laundry, 1 storage, 1 parking and ample visitor parking and EV chargers. The complex features an indoor pool, sauna, hot tub, gym, bike room and kids play area. 2 pets (cats/dogs) allowed. Fantastic location - Walking distance to everything! Skytrain, WCE, breweries, Rocky Point, Shoreline Trail for hiking or dog walking, schools, grocery, restaurants, coffee shops and more!

I have sold a property at 310 1200 EASTWOOD ST in Coquitlam

Sat, 24 Aug 2024 09:00:19 GMT

I have sold a property at 310 1200 EASTWOOD ST in Coquitlam on Aug 19, 2024. See details here

Ready to call this incredible spacious 2 bedroom home your own. Don't miss this opportunity. The fully covered deck is very rare with over 200 sq/ft and accessible from the main bedroom and living room. The large bedrooms are on opposite sides of the home for your privacy. Plenty of natural light fills the living room and Kitchen and the NE exposure keeps the home cooler in the summer. Primary bedroom has a large WI closet and full ensuite washroom. Open concept kitchen leads to a cozy living area which offers views of Lafarge lake in the winter. This prime location is close to WC express, skytrain, coquitlam center, the Aquatic Complex, Lafarge Lake and much more. Amenities include indoor pool, gym, landscaped grounds & a rec facility. This is the home you've been looking for.

I have sold a property at 19 1705 PARKWAY BLVD in Coquitlam

Sat, 10 Aug 2024 09:00:22 GMT

I have sold a property at 19 1705 PARKWAY BLVD in Coquitlam on Jul 28, 2024. See details here

Welcome to Whistler inspired "Tango" by Liberty Homes! The Best of Both Worlds - Low Maintenance, Lock and Leave Convenience, Privacy, Natural Light, Views & Outdoor Space! Situated on a corner lot, this One Owner, 2963 sq ft home has it all! You will appreciate the manicured gardens, extra long driveway and 2 car garage with separate doors. Step inside and you will find one of the cleanest, best cared for homes you will ever see! Absolutely meticulously maintained, this is a place you will be proud to call home! The main flr features an abundance of natural light, living & dining, open kitchen, oversize eating area, & family room, plus a massive 21 x 6 covered balcony and private fenced yard with covered patio. Upstairs offers 3 generous bedrooms, laundry, and downstairs you'll find an extra large flex area, Rec Room / possible 4th bedroom, and roughed in bathroom plumbing. It's all been done with a new Hot Water Tank (2019) , new Furnace and Central Air Conditioning (2021). Executive living at its best!

Greater Vancouver Realtors: July 2024 Stats

Thu, 08 Aug 2024 23:26:45 GMT

More selection not translating to more transactions

Newly listed properties registered on the Multiple Listing Service® (MLS®) rose nearly twenty per cent year over year in July, helping to sustain a healthy level of inventory in the Metro Vancouver1 housing market.

On the demand side, the Greater Vancouver REALTORS®2 (GVR) reports that residential sales in the region totalled 2,333 in July 2024, a 5 per cent decrease from the 2,455 sales recorded in July 2023. This was 17.6 per cent below the 10-year seasonal average (2,831).

"The trend of buyers remaining hesitant, that began a few months ago, continued in the July data despite a fresh quarter percentage point cut to the Bank of Canada’s policy rate."
Andrew Lis, GRV director of economics and data analytics
"With the recent half percentage point decline in the policy rate over the past few months, and with so much inventory to choose from, it’s a bit surprising transaction levels remain below historical norms as we enter the mid-point of summer."

There were 5,597 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in July 2024. This represents a 20.4 per cent increase compared to the 4,649 properties listed in July 2023. This was also 12.7 per cent above the 10-year seasonal average (4,968).

The total number of properties currently listed for sale on the MLS® in Metro Vancouver is 14,326, a 39.1 per cent increase compared to July 2023 (10,301). This is also 21.5 per cent above the 10-year seasonal average (11,788).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for July 2024 is 16.9 per cent. By property type, the ratio is 12.8 per cent for detached homes, 20.1 per cent for attached, and 19.3 per cent for apartments.

“With the overall market experiencing balanced conditions, and with a healthy level of inventory not seen in quite a few years, price trends across all segments have leveled out with very modest declines occurring month over month," Lis said.

“While it remains to be seen whether softening prices and improved borrowing costs will entice buyers to purchase as we head into the fall market, it’s worth noting that it can take a few months for improvements to borrowing costs to materialize into higher transaction levels.

"In this respect, it’s still early days, so we will watch the market for signs of transaction activity picking up in the months ahead.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,197,700. This represents a 0.8 per cent decrease over July 2023 and a 0.8 per cent decrease compared to June 2024.

Sales of detached homes in July 2024 reached 688, a 1 per cent increase from the 681 detached sales recorded in July 2023. The benchmark price for a detached home is $2,049,000. This represents a 2.1 per cent increase from July 2023 and a 0.6 per cent decrease compared to June 2024.

Sales of apartment homes reached 1,192 in July 2024, a 6.9 per cent decrease compared to the 1,281 sales in July 2023. The benchmark price of an apartment home is $768,200. This represents a 0.3 per cent decrease from July 2023 and a 0.7 per cent decrease compared to June 2024.

Attached home sales in July 2024 totalled 437, a 6.2 per cent decrease compared to the 466 sales in July 2023. The benchmark price of a townhouse is $1,124,700. This represents a 1.4 per cent increase from July 2023 and a 1.2 per cent decrease compared to June 2024.

For more stats CLICK HERE.

Fraser Valley Stats: July 2024 Slow Summer Sales

Thu, 08 Aug 2024 23:22:27 GMT

Cool summer market persists in Fraser Valley with second slowest July sales in a decade

SURREY, BC – Sluggish seasonally-adjusted sales and a continued rise in inventory has the Fraser Valley market slowly shifting to favour buyers.

The Fraser Valley Real Estate Board recorded 1,230 sales in July, down by seven per cent over last month and down by 26 per cent over the 10-year seasonal average.

Inventory levels in the Fraser Valley reached a 10-year seasonally adjusted high in July with active listings at 8,731, up 5 per cent over June and 41 per cent higher than July 2023.

“Amidst an overall balanced market, some REALTORS® are experiencing pockets within the Fraser Valley that favour buyers, where prices have come down,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “This is evident in the amount of time buyers have to view a property before considering making an offer. Properties that are well-priced are selling quickly, suggesting motivated buyers are active in the market despite the slowdown.”

New listings were flat in July, down by less than half a per cent from June, to 3,412. With a sales-to-active listings ratio of 14 per cent, overall market conditions are balanced. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“Despite back-to-back policy rate cuts by the Bank of Canada, many first-time homebuyers are still facing challenging market conditions — high interest rates, the mortgage stress test and the need for a substantial down payment,” said FVREB CEO, Baldev Gill. “While we wait for the rate cuts to take effect, we encourage anyone looking to buy or sell to speak with a professional REALTOR®, who has the knowledge and expertise to navigate the current market.”

Across the Fraser Valley in July, the average number of days to sell a single-family detached home was 31, while for a condo it was 28. Townhomes took, on average, 25 days to sell.

Benchmark prices in the Fraser Valley dipped slightly in July, with the composite Benchmark price below $1 million for the first time since January 2024. The composite Benchmark price in the Fraser Valley is $999,100.

To read the full statistics package, click here.