Hello and welcome to our Pinnacle Group Real Estate Marketing April 2016 Newsletter.
As always, thank you for taking the time to read our monthly PGREM update, we hope that it proves to be informative for you!
BC Real Estate Highlights
The British Columbia Real Estate Association (BCREA) reported that a record 12,560 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March, up 38 per cent from March of last year. Home sales last month eclipsed the previous record of 11,683 unit sales in May of 2007. Total sales dollar volume was $9.69 billion in March, up 66.9 per cent compared to the previous year. The average MLS® residential price in the province was up 20.2 per cent year-over-year, to $771,620
"Housing demand has never been stronger in the province," said Cameron Muir, BCREA Chief Economist. "Most large population centres of the province are now experiencing record levels of housing demand."
So if you’re thinking of selling now is a great time to take advantage of this hot real estate market.
For Sale – 3451 Senkler Rd, Belcarra, BC - $3,588,000
Welcome to Woodhaven, a west coast waterfront masterpiece perched on a spectacular 20,903 sq. ft. lot overlooking Bedwell Bay and beyond. Featuring a private dock with deep-water moorage and your own old growth forest framing breathtaking panoramic blue water ocean views. Offered as a redeveloped project currently under renovation this 3,833 sq. ft. residence is inspired by the ultra luxurious $600 sq. ft. Paggio Residence in Roberts Creek. With approximately $700,000 already spent to date, the extreme attention to detail is evident throughout. Completely redesigned by master architect Sue Webster, this sensational home features a state of the art drainage system, custom beams milled on site from Salt Spring Island, commercial grade mechanical systems, Loewen windows, a sophisticated VTF septic system, Indiana limestone, Quartzite, Napoli tubs and Hansgrohe faucets. This remarkable residence in Belcarra truly embodies the best of a west coast lifestyle in beautiful British Columbia.
For Sale – 302 155 East 5th St, North Vancouver, BC - $298,800
Bright and beautiful this spacious fully renovated top floor 743 sq. ft. one bedroom condo located in "Winchester Estates" co-op is sure to impress! You will love the new element oak engineered flooring, gorgeous gourmet kitchen featuring high end luxurious custom soft close cabinetry, top of the line s/s appliances, apron sink, beautiful granite and tile backsplash. The open concept floorplan with large dining space and over sized balcony taking in the spectacular mountain views is an entertainer delight! Enjoy peace of mind in this well maintained building with maintenance fees including cable, caretaker, heat and hot water. Located in the heart of Lower Lonsdale just steps to Lonsdale Quay, parks, shops restaurants and a short sea bus ride to the heart of downtown Vancouver. What a wonderful place to call home!
Metro Vancouver Real Estate Update
VANCOUVER, B.C. – April 4, 2016 – Metro Vancouver home sales eclipsed 5,000 in March for the first time on record.
Residential property sales in the region totaled 5,173 in March 2016, an increase of 27.4 per cent from the 4,060 sales recorded in March 2015 and an increase of 24 per cent compared to February 2016 when 4,172 homes sold.
"March was the highest selling month the REBGV has ever recorded,” Dan Morrison, REBGV president said. “Today's demand is broad based. Home buyers are active in neighbourhoods across our region."
New listings for detached, attached and apartment properties in Metro Vancouver totaled 6,278 in March 2016. This represents an increase of 5.2 per cent compared to the 5,968 units listed in March 2015 and an 8 per cent increase compared to February 2016 when 5,812 properties were listed.
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 7,358, a 40.5 per cent decline compared to March 2015 (12,376) and a 0.8 per cent increase compared to February 2016 (7,299).
“Strong job and economic growth in our province, positive net migration and low interest rates are helping to drive this activity," Morrison said.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $815,000. This represents a 23.2 per cent increase compared to March 2015.
Sales of detached properties in March 2016 reached 2,135, an increase of 24.8 per cent from the 1,711 detached sales recorded in March 2015. The benchmark price for detached properties increased 27.4 per cent from March 2015 to $1,342,500.
Sales of apartment properties reached 2,252 in March 2016, an increase of 38.4 per cent compared to the 1,627 sales in March 2015.The benchmark price of an apartment property increased 18.8 per cent from March 2015 to $462,800.
Attached property sales in March 2016 totalled 786, an increase of 8.9 per cent compared to the 722 sales in March 2015. The benchmark price of an attached unit increased 20.1 per cent from March 2015 to $589,100.
Single Family – Greater Vancouver Home Price Index – March 2016
Townhouse – Greater Vancouver Home Price Index – March 2016
Apartment – Greater Vancouver Home Price Index – March 2016
Keller Williams Realty - Red Day – May 12, 2016
RED DAY (Renew, Energize and Donate) is an initiative dedicated to celebrating Keller Williams Realty’s year-round commitment to improving our local communities. Each year, on the second Thursday in May, tens of thousands of associates from across the World including Canada participate in a wide range of projects, devoting their time to renewing and energizing aspects of the neighbourhoods in which they serve.
This year Keller William Elite Realty has chosen a continuation of the last two years, which has been to support Associations of Community Living. Choosing to work with homes that support special needs children or adults is near and dear to one of our very own agents as her own daughter has special needs and may one day need the support of a wonderful place such as these. Over the past two years KW Elite Realty has taken on a huge undertaking of painting, carpet removal, gardening, leveling, brick work and power washing to help make the homes a cheerful place for the residents to live in Port Moody and Port Coquitlam.
This year we are excited to announce we will be taking on a Pitt Meadows and Maple Ridge location to help beautify the landscape and exteriors making the grounds of the homes safe and enjoyable for the residents.
We are reaching out to our community, family, friends, clients and colleagues to help us fund this amazing project by donation. Every bit helps to cover the cost of the paint, sod & soil, gravel and other materials needed. We are also looking to raise funds to surprise everyone with their two big wish items a new patio set for the Maple Ridge house and a high-end dishwasher for the Pitt Meadows home.
Please feel free to come out and join us on May 12th if you would like to donate your time! We sincerely THANK YOU for your help and support with our RED DAY 2016.
The Volunteer Team
Please contact Andrea Jauck at 604-783-3124 firstname.lastname@example.org or Tanya Croteau at 778-318-4308 if you have any questions or would like to donate!
Radio Real Estate Show in Vancouver
Listen to Andrea weekly, on the Radio Real Estate Show with Tom Lucas and Bill Macklem, every Saturday morning from 10:00-11:00am on CISL650 across the Lower Mainland.
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!