The 604 NEW HOME TEAM:  Allan Krueger, Ray Shewchuk, Roy Choi Personal Real Estate Corporation

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Posted in Simon Fraser Univer., Burnaby North Real Estate
New property listed in Simon Fraser Univer., Burnaby North
I have listed a new property at 502 9168 SLOPES MEWS in Burnaby.
See details here
Live above it all on the Top Floor in this corner unit by Polygon Home! Super private with only one shared wall, this 2 bedroom 2 full bathroom condo has been meticulously cared for and it shows! Features include Polished Engineered Stone Counters, Stainless Appliance Package, Glass Tile backsplash, and rich wood laminate flooring. Spacious 968 sq ft of efficient floor space with bedrooms on opposite corners - tons of privacy and perfect for roommates. South East views from the kitchen and oversize Covered Deck! In floor heating throughout! This condo is absolutely move in ready with Full Size Laundry, upgraded high end Hunter Douglas Blinds, Massive Storage Locker and perhaps the best parking stall in the building!
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Posted in Central Meadows, Pitt Meadows Real Estate
New property listed in Central Meadows, Pitt Meadows
I have listed a new property at 11930 189A ST in Pitt Meadows.
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Your search stops here! Immaculate updated 4 bedroom, 3 bathroom, 2 story home in a desirable family neighborhood. This is a perfect family home as the main floor is very spacious with an open kitchen overlooking the family room. Access the heated 16ft x 34ft Inground pool and 6-person hot tub from the kitchen, family room or garage. Outdoor space is your own private Oasis and the kids will also have plenty of room to play on the grassy private side yard. Upstairs has been completely renovated with no expense spared. Huge master bedroom with walk-in closet, luxurious ensuite bathroom and private deck plus 3 more spacious bedrooms and full washroom. Features: High efficiency furnace/heat pump zoned top and bottom floors. New hot water tank. 25-year cedar fence. Full exterior renovation including new windows, doors, soffits and gutters, and Hardi board around entire house. All of this in a private yard on a corner lot with potential RV parking. PME, PMSS Eagle park all Nearby. Check on duplex zoning.
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FVREB April Stats

Slower than normal market still attracting buyers in the Fraser Valley

SURREY, BC – The Fraser Valley real estate market experienced its second slowest April in ten years and yet sales of certain property types and price ranges remain solid.


The Fraser Valley Real Estate Board processed 1,383 sales of all property types on its Multiple Listing Service® (MLS®) in April, a 13.3 per cent increase compared to sales in March 2019, and a 19 per cent decrease compared to the 1,708 sales in April of last year.

Of the 1,383 total sales of residential and commercial combined, 489 were residential detached homes, 379 were townhouses, and 374 were apartments.


Darin Germyn, President of the Board, said of the market: “Consumers may not have the purchasing power that they did prior to January 2018, but the desire for home ownership is still there and we’re seeing that reflected in our MLS® data.

“Detached homes under one million dollars and attached homes – ranging from $400,000 to $700,000 – continue to attract buyers in the Fraser Valley.

Townhome sales in Abbotsford increased by almost 60 per cent compared to March and were on par with last year’s April sales.”


There were 7,870 active listings available in the Fraser Valley at the end of April, an increase of 12.3 per cent compared to March 2019’s inventory and an increase of 38.9 per cent year-over-year.

The Board received 3,391 new listings during the month, an 18.1 per cent increase compared to March 2019’s intake of 2,872 new listings and a decrease of 1.1 per cent compared to April of last year.


“A slower, stable market has had a positive impact on affordability in our region. Prices of typical residential homes in the Fraser Valley have decreased between 5 and 6 per cent in the last year.

In the last three months, benchmark prices have either plateaued or have experienced a small recovery,” added Germyn.


For the Fraser Valley region, the average number of days to sell an apartment in April was 37, and 31 for townhomes. Single family detached homes remained on the market for an average of 37 days before selling.


HPI® Benchmark Price Activity

  • Single Family Detached: At $964,600, the Benchmark price for a single family detached home in the Fraser Valley increased 0.2 per cent compared to March 2019 and decreased 4.8 per cent compared to April 2018.
  • Townhomes: At $521,800 the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.9 per cent compared to March 2019 and decreased 5.1 per cent compared to April 2018.
  • Apartments: At $420,700, the Benchmark price for apartments/condos in the Fraser Valley increased 0.6 per cent compared to March 2019 and decreased 6 per cent compared to April 2018.
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Reduced demand and increased supply remain the trend across Metro Vancouver’s housing market

Decreased demand continues to allow the supply of homes for sale to accumulate across the Metro Vancouver housing market.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,829 in April 2019, a 29.1 per cent decrease from the 2,579 sales recorded in April 2018, and a 5.9 per cent increase from the 1,727 homes sold in March 2019.


Last month’s sales were 43.1 per cent below the 10-year April sales average.


“Government policy continues to hinder home sale activity. The federal government’s mortgage stress test has reduced buyers’ purchasing power by about 20 per cent, which is causing people at the entry-level side of the market to struggle to secure financing,” Ashley Smith, REBGV president said. “Suppressing housing activity through government policy not only reduces home sales, it harms the job market, economic growth and creates pent-up demand.”


There were 5,742 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2019. This represents a 1.3 per cent decrease compared to the 5,820 homes listed in April 2018 and a 16 per cent increase compared to March 2019 when 4,949 homes were listed.


The total number of homes currently listed for sale on the MLS® in Metro Vancouver is 14,357, a 46.2 per cent increase compared to April 2018 (9,822) and a 12.4 per cent increase compared to March 2019 (12,774).


“There are more homes for sale in our market today than we’ve seen since October 2014. This trend is more about reduced demand than increased supply,” Smith said. “The number of new listings coming on the market each month are consistent with our long-term averages. It’s the reduced sales activity that’s allowing listings to accumulate.”


The overall sales-to-active listings ratio for April 2019 is 12.7 per cent. By property type, the ratio is 9.4 per cent for detached homes, 15.4 per cent for townhomes, and 15.3 per cent for apartments.


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


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,008,400. This represents an 8.5 per cent decrease over April 2018, and a 0.3 per cent decrease compared to March 2019.


Detached home sales totalled 586 in April 2019, a 27.4 per cent decrease from the 807 detached sales in April 2018. The benchmark price for a detached home is $1,425,200. This represents an 11.1 per cent decrease from April 2018, a 0.8 per cent decrease compared to March 2019.


Apartment home sales totalled 885 in April 2019, a 32.3 per cent decrease compared to the 1,308 sales in April 2018. The benchmark price of an apartment is $656,900 in the region. This represents a 6.9 per cent decrease from April 2018 and is unchanged from March 2019.


Attached home sales totalled 358 in April 2019, a 22.8 per cent decrease compared to the 464 sales in April 2018.


The benchmark price of an attached home is $783,300. This represents a 7.5 per cent decrease from April 2018 and is unchanged from March 2019.


***

For Details on what has been happening in your neighbourhood, give us a call!

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Posted in Forest Hills BN, Burnaby North Real Estate
I have listed a new property at 8141 FOREST GROVE DR in Burnaby.
See details here
Absolutely gorgeous End Unit Executive Townhouse situated in convenient Forest Hills! Perhaps the nicest kitchen you will find in this price range - completely redone by a professional designer and contractor, featuring high end materials, newer stainless steel appliance, glass tile backsplash, accent white upper cabinetry, recessed lighting, ample storage drawers, and finished to a very high standard. The main floor offers a renovated 2 pc powder room, dining and living rooms, Private Deck and BBQ area. Upstairs are 3 good size rooms and two updated bathrooms. Downstairs is perfect for Guests or teens with a den (could be 4th bedroom), full bathroom, massive rec room, and access to your patio and yard. Super Quiet Location!
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Posted in Cloverdale BC, Cloverdale Real Estate
New property listed in Cloverdale BC, Cloverdale
I have listed a new property at 19180 SUNDALE AVE in Surrey.
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Nothing to do but move into this completely renovated home! A 5 bedroom/3 bath stunner on corner lot with private, south facing backyard & potential for a suite! Updates (past 3 years) include: new exterior, gutters and downspouts, new deck, thermal windows, doors (including garage), exterior and interior paint & trim, PEX waterlines, 200 amp panel, hot water tank, furnace & AC, new lighting and flooring too! Open concept main has new kitchen (cabinets/counters/soft-close drawers/stainless steel appliances), a large island & French doors out to the deck to BBQ, entertain and enjoy the colourful yard. Plus, the coolest bathrooms you've ever seen! This modern tech home has new security system, cable & ethernet to every room too! Close to Willowbrook Mall & transit. View by appointment only.
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Prospective home buyers remain on the sidelines in March

Metro Vancouver home sales dipped to the lowest levels seen in March in more than three decades.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,727 in March 2019, a 31.4 per cent decrease from the 2,517 sales recorded in March 2018, and a 16.4 per cent increase from the 1,484 homes sold in February 2019.


Last month’s sales were 46.3 per cent below the 10-year March sales average and was the lowest total for the month since 1986.


“Housing demand today isn’t aligning with our growing economy and low unemployment rates. The market trends we’re seeing are largely policy induced,” Ashley Smith, REBGV president said. “For three years, governments at all levels have imposed new taxes and borrowing requirements on to the housing market.”


“What policymakers are failing to recognize is that demand-side measures don’t eliminate demand, they sideline potential home buyers in the short term. That demand is ultimately satisfied down the line because shelter needs don’t go away. Using public policy to delay local demand in the housing market just feeds disruptive cycles that have been so well-documented in our region.”


There were 4,949 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2019. This represents an 11.2 per cent increase compared to the 4,450 homes listed in March 2018 and a 27.2 per cent increase compared to February 2019 when 3,892 homes were listed.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,774, a 52.4 per cent increase compared to March 2018 (8,380) and a 10.2 per cent increase compared to February 2019 (11,590).


For all property types, the sales-to-active listings ratio for March 2019 is 13.5 per cent. By property type, the ratio is 9.4 per cent for detached homes, 15.9 per cent for townhomes, and 17.2 per cent for apartments.

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


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,011,200. This represents a 7.7 per cent decrease from March 2018, and a 0.5 per cent decrease compared to February 2019.


Sales of detached homes in March 2019 reached 529, a 26.7 per cent decrease from the 722 sales in March 2018. The benchmark price for a detached home is $1,437,100. This represents a 10.5 per cent decrease from March 2018, and a 0.4 per cent decrease compared to February 2019.


Sales of apartment homes reached 873 in March 2019, a 35.3 per cent decrease compared to the 1,349 sales in March 2018. The benchmark price of an apartment property is $656,900. This represents a 5.9 per cent decrease from March 2018, and a 0.5 per cent decrease compared to February 2019.


Attached home sales in March 2019 totalled 325, a 27.1 per cent decrease compared to the 446 sales in March 2018. The benchmark price of an attached home is $783,600. This represents a six per cent decrease from March 2018, and a 0.7 per cent decrease compared to February 2019.


For details on what is happening in your neighbourhood, contact the 604 New Home Team. Buying, selling, investing? We'd love to help!

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Posted in Port Moody Centre, Port Moody Real Estate
I have sold a property at 311 3142 ST JOHNS ST in Port Moody
I have sold a property at 311 3142 ST JOHNS ST in Port Moody.
See details here
Priced to Sell Now! Desirable Sonrisa is in a super convenient location - steps to the Skytrain and West Coast Express, and a short walk to the Inlet Trail, Suter Brook, Rocky Point Park, Newport Village, and the Port Moody Rec Center! 3rd Floor 617 sq ft One Bedroom, One Bath home with Northern Exposure. Could use some minor cosmetic work and priced accordingly. Complex amenities include indoor pool, and gym. Buy with confidence in a Great Building!
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Posted in North Shore Pt Moody, Port Moody Real Estate
I have sold a property at 621 BENTLEY RD in Port Moody
I have sold a property at 621 BENTLEY RD in Port Moody.
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GREAT LOCATION of this 2 level with basement, 3 bedroom family home on a quiet cul-de-sac, steps away from Old Orchard Park, the beach, daycare, community centre & Shoreline Trail! The main features hardwood flooring in the living room, dining room & hallway. Stay warm with the wood fireplace. The spacious kitchen with sliding door leads to a covered deck, fenced private backyard and large storage shed. Upstairs: a huge master bedroom with walk-in closet & 3-pc ensuite while the 2 additional bedrooms have partial water views! Bathrooms on every level including the finished basement with large entertainment & game rooms (could be additional bedroom space). Park in the double garage, or space for 2 on the driveway. Just minutes drive to the Rec. Centre, library, Newport Village and Skytrain!
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Posted in Port Moody Centre, Port Moody Real Estate
New property listed in Port Moody Centre, Port Moody
I have listed a new property at 311 3142 ST JOHNS ST in Port Moody.
See details here
Priced to Sell Now! Desirable Sonrisa is in a super convenient location - steps to the Skytrain and West Coast Express, and a short walk to the Inlet Trail, Suter Brook, Rocky Point Park, Newport Village, and the Port Moody Rec Center! 3rd Floor 617 sq ft One Bedroom, One Bath home with Northern Exposure. Could use some minor cosmetic work and priced accordingly. Complex amenities include indoor pool, and gym. Buy with confidence in a Great Building!
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Posted in Simon Fraser Univer., Burnaby North Real Estate
New property listed in Simon Fraser Univer., Burnaby North
I have listed a new property at 502 9168 SLOPES MEWS in Burnaby.
See details here
Live above it all on the Top Floor in this corner unit by Polygon Home! Super private with only one shared wall, this 2 bedroom 2 full bathroom condo has been meticulously cared for and it shows! Features include Polished Engineered Stone Counters, Stainless Appliance Package, Glass Tile backsplash, and rich wood laminate flooring. Spacious 968 sq ft of efficient floor space with bedrooms on opposite corners - tons of privacy and perfect for roommates. Awesome views from the kitchen and oversize covered deck to the East and South East. In floor heating throughout! This condo is absolutely move in ready with Full Size Laundry, upgraded high end Hunter Douglas Blinds, Massive Storage Locker and perhaps the best parking stall in the building.
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Housing market conditions continue to favour home buyers

Housing market conditions continue to favour home buyers

The Metro Vancouver housing market saw increased supply from home sellers and below average demand from home buyers in February.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,484 in February 2019, a 32.8 per cent decrease from the 2,207 sales recorded in February 2018, and a 34.5 per cent increase from the 1,103 homes sold in January 2019.


Last month’s sales were 42.5 per cent below the 10-year February sales average.


“For much of the past four years, we’ve been in a sellers’ market. Conditions have shifted over the last 12 months to favour buyers, particularly in the detached home market,” Phil Moore, REBGV president said. “This means that home buyers face less competition today, have more selection to choose from and more time to make their decisions.”


There were 3,892 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2019. This represents a 7.8 per cent decrease compared to the 4,223 homes listed in February 2018 and a 19.7 per cent decrease compared to the 4,848 homes listed in January 2019.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 11,590, a 48.2 per cent increase compared to February 2018 (7,822) and a 7.2 per cent increase compared to January 2019 (10,808).

For all property types, the sales-to-active listings ratio for February 2019 is 12.8 per cent.


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


“Homes priced well for today’s market are attracting interest, however, buyers are choosing to take a wait-and-see approach for the time being,” Moore said. “REALTORS® continue to experience more traffic at open houses. We’ll see if this trend leads to increased sales activity during the spring market.”


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,016,600. This represents a 6.1 per cent decrease over February 2018, a 6.2 per cent decrease over the past six months, and a 0.3 per cent decrease compared to January 2019.


Sales of detached homes in February 2019 reached 448, a 27.9 per decrease cent from the 621 detached sales recorded in February 2018. The benchmark price for detached properties is $1,443,100. This represents a 9.7 per cent decrease from February 2018, a 7.6 per cent decrease over the past six months, and a 0.7 per cent decrease compared to January 2019.


Sales of apartment homes reached 759 in February 2019, a 35.9 per cent decrease compared to the 1,185 sales in February 2018. The benchmark price of an apartment property is $660,300. This represents a four per cent decrease from February 2018, a 5.1 per cent decrease over the past six months, and a 0.3 per cent increase compared to January 2019.


Attached home sales in February 2019 totalled 277, a 30.9 per cent decrease compared to the 401 sales in February 2018. The benchmark price of an attached unit is $789,300. This represents a 3.3 per cent decrease from February 2018, a 6.7 per cent decrease over the past six months, and a 1.4 per cent decrease compared to January 2019.

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Posted in North Shore Pt Moody, Port Moody Real Estate
New property listed in North Shore Pt Moody, Port Moody
I have listed a new property at 621 BENTLEY RD in Port Moody.
See details here
You'll love the great location of this 3 bedroom family home on a quiet and private cul-de-sac, just steps away from Old Orchard Park, the beach, daycare, community centre and Shoreline Trail! This 2 level with basement North Shore home features hardwood flooring in living room, dining room & hallway. A spacious kitchen with sliding door to covered deck, fenced private backyard and large storage shed. Upstairs has a huge master bedroom with 3-pc ensuite and 2 additional bedrooms with partial water views. Bathrooms on every level including the finished basement with large entertainment & game rooms which could be used for additional bedroom space. Stay warm with the wood fireplace. Lots of room in the double garage plus parking for 2 more on the driveway. Showing by agent appointment.
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Posted in Oxford Heights, Port Coquitlam Real Estate
I have sold a property at 1490 APEL DR in Port Coquitlam
I have sold a property at 1490 APEL DR in Port Coquitlam.
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Tons of potential in this basement entry home with access from the front on Apel and Ulster from the back of the property. Super convenient location situated close to Hyde Creek Rec Center / Pool and Minnekhada Middle School! This home offers three bedroom and two bathrooms up top, a large recroom and suite potential on the lower level. Needs some TLC - perfect if you are handy and looking to build some sweat equity. 100k below Assessed Value!
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Supply Up, Demand Down

Home listings increase while buyers remain in holding pattern


Home listings continue to increase across all housing categories in the Metro Vancouver housing market while home buyer activity remains below historical averages.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,103 in January 2019, a 39.3 per cent decrease from the 1,818 sales recorded in January 2018, and a 2.9 per cent increase from the 1,072 homes sold in December 2018.


Last month’s sales were 36.3 per cent below the 10-year January sales average and were the lowest January-sales total since 2009.


“REALTORS® are seeing more traffic at open houses compared to recent months. Homes priced well for today’s market are garnering interest, however, buyers are choosing to remain in a holding pattern for the time being,” Phil Moore, REBGV president said.


There were 4,848 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2019. This represents a 27.7 per cent increase compared to the 3,796 homes listed in January 2018 and a 244.6 per cent increase compared to the 1,407 homes listed in December 2018.


The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,808, a 55.6 per cent increase compared to January 2018 (6,947) and a 5.2 per cent increase compared to December 2018 (10,275).


For all property types, the sales-to-active listings ratio for January 2019 is 10.2 per cent. By property type, the ratio is 6.8 per cent for detached homes, 11.9 per cent for townhomes, and 13.6 per cent for condominiums.


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


“Home prices have edged down across all home types in the region over the last seven months,” Moore said.

The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $1,019,600. This represents a 4.5 per cent decrease over January 2018, and a 7.2 per cent decrease over the past six months.


“Economic fundamentals underpinning our market for home buyers and sellers remain strong. Today’s market conditions are largely the result of the mortgage stress test that the federal government imposed at the beginning of last year,” Moore said. “This measure, coupled with an increase in mortgage rates, took away as much as 25 per cent of purchasing power from many home buyers trying to enter the market.”


Sales of detached homes in January 2019 reached 339, a 30.4 per cent decrease from the 487 detached sales recorded in January 2018. The benchmark price for detached homes is $1,453,400. This represents a 9.1 per cent decrease from January 2018, and an 8.3 per cent decrease over the past six months.


Sales of apartment homes reached 559 in January 2019, a 44.8 per cent decrease compared to the 1,012 sales in January 2018. The benchmark price of an apartment property is $658,600. This represents a 1.7 per cent decrease from January 2018, and a 6.6 per cent decrease over the past six months.


Attached home sales in January 2019 totalled 205, a 35.7 per cent decrease compared to the 319 sales in January 2018. The benchmark price of an attached unit is $800,600. This represents a 0.5 per cent decrease from January 2018, and a 6.2 per cent decrease over the past six months.

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Posted in King George Corridor, South Surrey White Rock Real Estate
I have sold a property at 3475 148 ST in Surrey
I have sold a property at 3475 148 ST in Surrey.
See details here
You'll love 5 bed, 4 bath former SHOW HOME in Elgin Brooke Estates - ideal for a young family or as an investment. The OPEN main floor plan has crown mouldings, hardwood floors, granite counter, s/s appliances, custom built-ins & coffered den/family room ceiling. Enjoy the oversized balcony with mountain views to entertain. Three bedrooms up, including master with full ensuite & walk in closet and laundry room just down the hall. Make use of the 1 bdrm walk-out basement suite w/private entry, patio & separate laundry. Option for the 2nd basement bedroom for up or down use. Lane access to detached double garage. Hiking trail & kid's play park right across the street! Close to shopping, schools (Semiahmoo), golf, beaches & highway access.
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Posted in Websters Corners, Maple Ridge Real Estate
New property listed in Websters Corners, Maple Ridge
I have listed a new property at 25931 DEWDNEY TRUNK RD in Maple Ridge.
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15 Acre Estate property with 2 separate homes located close to town offers privacy and revenue! This unique property features City Water, private pond, and a serene stream at the rear of the property. The Main Residence is a 9000 sq ft Bavarian style Log Home with spectacular views - includes: indoor pool, music studio, 6 bedroom, 4 bathrooms, and several expansive areas suitable for both small and large family gatherings. The 2nd house is approx 2400 sq ft, 4 beds, 4 bath, located on Dewdney. Other structures include a Pottery Barn, Detached Garage, and Barn / Workshop. Rental revenue currently $43,200 / year. Large Cleared Field offers space for additional storage Revenue. Move in Ready – brand new Roofs - approx 400k in recent updates. See video for additional info.
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Posted in Oxford Heights, Port Coquitlam Real Estate
I have sold a property at 3758 OXFORD ST in Port Coquitlam
I have sold a property at 3758 OXFORD ST in Port Coquitlam.
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Affordable and delightful 4 bedroom home in the desirableness Oxford Heights neighbourhood of Port Coquitlam. Close to all level of schools and transit, shopping and adjacent to a stunning natural park. Home has an updated kitchen and an almost last, forever tile roof. Your chance to obtain a detached home in the Tri-Cities has just appeared. The entire upstairs is awaiting your plans to be finished and add more bedrooms or whatever you desire. Priced to sell and offers not being delayed so come view today!
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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. 


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 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.  


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