Home sellers have become increasingly active in Metro Vancouver’s* housing market this spring in response to heightened demand and rising home values that have materialized during the pandemic.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,908 in April 2021, a 342.6 per cent increase from the 1,109 sales recorded in April 2020, and a 14 per cent decrease from the 5,708 homes sold in March 2021.
Last month’s sales were 56.2 per cent above the 10-year April sales average and is the highest total on record for the month.
"Our housing market has changed considerably from one year ago when COVID-19 concerns brought activity to a near standstill. This was followed by a well-documented spike in home buyer demand across the region. So far this spring, we’ve seen a corresponding supply response from home sellers." Keith Stewart, REBGV economist
184 Turtlehead Road, Belcarra, BC - For Sale - $3,998,000
Absolutely Spectacular OCEANFRONT PROPERTY now available in one of the most prestigious neighborhoods of Belcarra. Fall in love with the stunning West Coast Contemporary Home that has been meticulously renovated to a new home standard with a New Coach House addition totalling 3,081 sq. ft. of combined living space. Take in Breathtaking Ocean Views from over 1,700 sq. ft. of multiple decks/balconies plus outdoor living spaces. You will love the modern, clean line design and decor taking in an abundance of natural light and the ocean views. Enjoy the benefit of the 10,000 sq. ft. lot with ample parking/storage for RV’s, Boat Trailers, etc. Walk, hike, bike, kayak and enjoy the day boating, all from your doorstep. Private Dock Licence Application in Process. Nestled between the forest and the sea this is truly the best that West Coast living has to offer you feel like you are living on vacation every day. All this and more only 40 minutes to Vancouver and a 5-minute boat ride to Deep Cove. Call today!
3053 Anmore Creek Way, Anmore, BC - For Sale - $6,398,000
Absolutely spectacular Whistler inspired Gated Mountain View Estate situated on flat one-acre lot is the Epitome of Privacy, Exclusivity and Luxury beyond compare. No expense was spared to create this serene private sanctuary with an astonishing level of detail that exceeds most 5-star resorts. 10,207 sq. ft. main residence with 6 bed and 10 bath features air conditioning, heated floors, $1.0 million theatre room, chef’s kitchen, temperature-controlled wine room, 12 seat formal dining, a man-cave entertainment center downstairs, 6-car showcase garage, fabulous exterior covered deck with outdoor kitchen, barbecue area, covered lounge with heaters, speakers and wood burning fireplace. Lush, manicured grounds include a stunning $3.5 million pool house and garden with gym, subterranean spa, 5-hole golf putting green, convertible (basketball, tennis, hockey) sports court, meandering trails and rock waterfall. Crestron home automation and 2nd gated entrance offers complete comfort and privacy.
2057 Ridge Mountain Drive , BC - For Sale - $4,898,000
Welcome to 2057 Ridge Mountain Drive located in Anmore’s prestigious Pinnacle Ridge Estates. Remarkably majestic, the panoramic views from this stately luxury residence are simply astonishing. This grand home features a level of superb quality and resplendent finishing seldom seen. Built with extreme care and attention to every detail by master builder Clay Construction. The moment you step inside this exclusive residence you will appreciate the warmth and elegance of the custom cherrywood cabinetry, solid hickory flooring and the extensive use of molding and millwork throughout. Enjoy the captivating panoramic views and take in glorious sunshine from the abundance of oversized European tilt and turn windows, decks and covered patios. You will love the opulent gourmet kitchen featuring top of the line Thermador/Jenn air appliances, beautiful oversized Golden Typhoon granite Island leading to the wetbar next to the dining room perfect flow for hosting a dinner party. Upstairs you will find three bedrooms with a master retreat with gorgeous spa like en-suite with his and her closets and a private deck to take in the stunning view. The lower level is an entertainer’s dream featuring 13 ft. ceilings, a beautiful wine room with racking for 400+ bottles, a stunning custom bar and a high-tech private movie theatre with 13 speakers acoustically engineered with 3D Projector a guest suite, gym/hobby room and additional bedroom complete this fabulous lower level. Enjoy the beautifully landscaped park-like backyard with room for a pool and/or coach house. This is truly an exceptional opportunity to live in one of the finest homes in Anmore. Call today for a private viewing!
A104 8218 207A Street, Langley BC - For Sale - $675,000
Spectacular GROUND Floor 2 BEDROOM + DEN unit with in-suite Storage and built-in AIR CONDITIONING + 2 Parking Stalls and Storage Locker in the highly sought after Yorkson Creek Walnut Ridge 4 development. Totalling 1,392 sq. ft. of liveable space including 1,127 sq. ft. suite with 9’ ceilings and 265 sq. ft. Glassed-In Solarium with retractable panels and BBQ hookup, quality built by Quadra Homes. Featuring gourmet kitchen, luxurious wood panel cabinets, S/S appliances with gas stove, stone countertops, spa inspired bathrooms with heated floors, rain shower in master ensuite and luxurious interior design elements throughout. Conveniently located within walking distance to shops, restaurants, schools & parks.
211 12 K DE K Court , New Westminster, BC - For Sale - $519,900
Welcome to Dockside living at its finest! Find this bright, beautiful, renovated spacious 1 bed + den (could be used for a second bedroom) home at the popular Dockside at New Westminster Quay. This charming renovated home has it all! A fabulous open concept floor plan, large kitchen with top of the line s/s appliances, quartz countertops, lighting, storage and laundry, 2 fabulous patio space, cozy centre gas fireplace, a large master with huge walk in closet and nicely updated en-suite. Enjoy the amenity room and roof top patio. Step out to the fabulous board walk, bus stop, minutes to the SkyTrain, shops, restaurants and services. Call today!
2366 Sunnyside Road, Anmore, BC - Sold
Nestled in the serene setting of Anmore, BC find this elegant Whistler inspired 4 bed / 4 bath family home. Extensively renovated throughout, you will love the chic modern finishing designed with family, entertaining and casual elegance in mind. The open concept floor plan has an abundance of windows with tranquil views of the pristine landscape, nature and private outdoor fireplace. This wonderful home has so many features a family would love, a double staircase, with a large upstairs loft /flex room, a large master retreat with spa like en-suite and oversized walk in closet, a gourmet kitchen with beautiful white cabinets and quartz island, gorgeous Acadia hardwood flooring and designer carpets, new lighting, paint, bathrooms, a large recreation room downstairs, rough in suite and media room . Enjoy the summer nights and outdoor living on your large wrap around deck overlooking beautiful landscaping. Also includes a new generator and septic system and room to park 6+ cars. All this and more just minutes to Butzen Lake, White Pine Beach, Port Moody Shops Services and Skytrain. Enjoy the best Port Moody Living has to offer!
Metro Vancouver Real Estate Update
VANCOUVER, BC – April , 2021
There were 7,938 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2021. This represents a 243.2 per cent increase compared to the 2,313 homes listed in April 2020, a 4.2 per cent decrease compared to March 2021 when 8,287 homes were listed and is the highest new listing total ever recorded in the region in April.
"While homes are now being listed at record levels, more supply is needed to meet today's demand and help market conditions achieve greater balance," Stewart said.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,245, a 9.1 per cent increase compared to April 2020 (9,389) and a 12 per cent increase compared to March 2021 (9,145).
Today’s active listings total is 11.2 per cent below the 10-year April average.
For all property types, the sales-to-active listings ratio for April 2021 is 47.9 per cent. By property type, the ratio is 37.4 per cent for detached homes, 70 per cent for townhomes, and 51.5 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.
“Record low interest rates, increased household savings, a strengthening economy and a continued focus on living space during the pandemic are all factors that are helping to bolster demand while steady price growth is encouraging more sellers to list their homes,” Stewart said.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,152,600. This represents a 12 per cent increase over April 2020 and a 2.6 per cent increase compared to March 2021.
"With our market at record activity in recent months, and with the continued safety risk that COVID-19 poses, REALTORS® remain focused on helping their clients make sound and responsible buying and selling decisions today while continuing to strictly follow the pandemic safety protocols established for real estate in our province," Taylor Biggar, REBGV Chair said.
Sales of detached homes in April 2021 reached 1,655, a 326.5 per cent increase from the 388 detached sales recorded in April 2020. The benchmark price for a detached home is $1,755,500. This represents a 20.9 per cent increase from last year and a 3.2 per cent increase compared to March 2021.
Sales of apartment homes reached 2,289 in April 2021, a 355.1 per cent increase compared to the 503 sales in April 2020. The benchmark price of an apartment home is $729,600. This represents a 5.9 per cent increase from April 2020 and a 1.9 per cent increase compared to March 2021.
Attached home sales in April 2021 totalled 964, a 342.2 per cent increase compared to the 218 sales in April 2020. The benchmark price of an attached home is $900,900. This represents a 13.9 per cent increase from April 2020 and a 3.3 per cent increase compared to March 2021.
At Pinnacle Group, our marketing efforts are geared to helping you achieve your real estate buying and selling goals. Whether you're looking to invest, downsize, upsize, or relocate, we can help.
If you, a family member or a friend have any questions or would like to discuss your real estate needs, please do not hesitate to contact me directly.
We look forward to hearing from you!
Andrea Jauck Kris Cyganiak Mathew Jauck
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