Hello and welcome to our Pinnacle Group Real Estate Marketing December 2017 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!
As we approach the end of the year, we at Pinnacle Group would like to wish all our clients, friends and business associates Happy Holidays and a cheerful and safe time during this seasons festivities!
The British Columbia Real Estate Association (BCREA) reports that a total of 7,731 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, an increase of 20.4 per cent from the same period last year. Total sales dollar volume was $5.59 billion, up 39.1 per cent from November 2016. The average MLS® residential price in the province was $723,112, up 15.5 per cent from November 2016.
“November was the third consecutive month that BC home sales were above 9,000 units, on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. “Elevated consumer demand is being supported by strong employment growth, rising wages and favourable demographics.”
SOLD – 3352 Main Ave, Belcarra, BC – $1,798,00
Welcome to your own PRIVATE LUXURY RETREAT in Belcarra. Paradise awaits you in this gorgeous entertainers DREAM HOME completely RENOVATED top to bottom with quality modern craftsmanship and warm tasteful décor. You will love the open concept floor plan, vaulted ceilings, surround sound, gorgeous gourmet kitchen featuring top-of-the-line Thermador appliances, and oversized windows taking in glorious peek-a-boo Ocean and Mountain views. Escape from it all with a RESORT STYLE backyard including a chic outdoor PERGOLA, a sensational rock fireplace, outdoor shower, hot tub and spacious decks. Enjoy spectacular lush natural landscaping on this 18,000 sq. ft. lot with your own pond, stream, bridges, hammock area and forest-walking trail at the rear. This special property is a must see.
For Sale – 220 Turtlehead Rd, Belcarra, BC – $4,188,000
2 LEGAL LOTS make this absolute WATERFRONT property a truly extraordinary opportunity to own an existing home on Turtlehead Rd, one of the most exclusive streets in Greater Vancouver, with the potential to build one or even two new residences. Enjoy spectacular sweeping panoramic Ocean views from a prominent pedestal position overlooking the crescent of Belcarra Bay with vistas across to the Provincial Park and beyond. This trophy property includes two separate (15 + 16) 50’+ lots with a total of 21,600 sq. ft. and a PRIVATE DOCK attached to Lot 16. Unparalleled options and value with the potential to renovate the existing home or build on one lot and hold the other for the future. Enjoy the best of west coast luxury living. Don’t miss this extraordinary Oceanfront offering. Call today!
For Sale – 4031 Bedwell Bay Rd, Belcarra, BC – $3,488,000
BRAND NEW ultra-modern Luxury Home in a perfect West Coast setting between Forest and Sea spectacularly OVERLOOKING the OCEAN in beautiful Belcarra.
Nestled in nature on a 21,384 sq. ft. lot with picturesque views of Bedwell Bay, this open concept 5 bedroom, 4 bath custom home by Zed Studio Design features 4,200 sq. ft. of living space on 3 levels with top grade finishing throughout. Every detail selected is both dramatic, yet elegant. The stunning gourmet kitchen is a entertainers dream with a large centre stone island, lots of counter and cabinet space, a Brizo mount pot filler, black matte faucet, and under-mount sink, 64” wide stainless freezer fridge and over sized wok kitchen complete with a wine bar. Rich features include resplendent engineered hardwood flooring, Marvel Legacy Vintage Edition stove, reclaimed wood open staircase, post and beam elements and a handcrafted wood dining table, in floor radiant heat and designer LED light fixtures throughout. 21 ft. floor to ceiling windows take in ocean views and natural light while the tilt and turn sliding glass doors off the dining/kitchen area allow seamless indoor/outdoor living with over 1,000 sq. ft. of patio space including covered areas with outdoor fireplaces to be used year round. Relax and unwind in your opulent master retreat with an Optimist Pro 1000 fireplace to add to the ambiance, feel the lavish rain shower with river rocks beneath your feet, enjoy the Miolin Adriana freestanding tub and outdoor patio to take in the serene views. The lower level is flexible for a games room or a one-bedroom suite along with a three-car garage. Surrounded by nature, the ocean, lakes, hiking trails and parks, this magnificent home is ready for you to create timeless memories.
For Sale – 3314 Bedwell Bay Rd, Belcarra, BC– $2,988,00
Simply STUNNING. Completely renovated to the highest level with luxury designer finishing and sophisticated detail, this EXTRODINARY Gated Private Estate style 6 bed, 4 bath residence has been transformed into a modern dream home. The open concept floor plan features top-of-the-line gourmet kitchen with stainless steel appliances, 6-burner range, gorgeous Marble Island and custom cabinetry. Just shy of an acre, enjoy manicured gardens nestled in mature trees offering complete privacy with spectacular Ocean views of Bedwell Bay. Rest and relax in the master retreat taking in sparking views from a private patio and rejuvenate in the spa like ensuite. This rare offering includes a three-car garage with an option to build a coach house and space for a music or media room. Call today to view!
Metro Vancouver Real Estate Update
VANCOUVER, B.C. – December 4, 2017 – Metro Vancouver* saw modest home listing changes and steady demand in November.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016, and a 7.5 per cent decrease compared to October 2017 when 3,022 homes sold.
Last month’s sales were 17 per cent above the 10-year November sales average.
“We’re seeing steady demand in today’s market. Home buyer activity is operating above our long-term averages, particularly in our townhome and condominium markets,” Jill Oudil, REBGV president said.
There were 4,109 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2017. This represents a 30.6 per cent increase compared to the 3,147 homes listed in November 2016 and a 9.5 per cent decrease compared to October 2017 when 4,539 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,747, a 4.3 per cent increase compared to November 2016 (8,385) and a 4.3 per cent decrease compared to October 2017 (9,137).
“While we’re seeing more listings enter the market today than we saw at this time last year, we have a long way to go before our home listing inventory rises back to more historically typical levels,” Oudil said.
The sales-to-active listings ratio for November 2017 is 32 per cent, which is up three per cent since September 2017. By property type, the ratio is 15.9 per cent for detached homes (up one per cent since September 2017), 36.4 per cent for townhomes (down six per cent since September 2017), and 67.8 per cent for condominiums (up seven per cent since September 2017).
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.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,046,900. This represents a 14 per cent increase over November 2016 and a 0.4 per cent increase compared to October 2017.
Sales of detached properties in November 2017 reached 841, a 31.8 per cent increase from the 638 detached sales recorded in November 2016. The benchmark price for detached properties is $1,608,000. This represents a 6.1 per cent increase from November 2016 and a 0.1 per cent decrease compared to October 2017.
Sales of apartment properties reached 1,508 in November 2017, a 25.7 per cent increase compared to the 1,200 sales in November 2016. The benchmark price of an apartment property is $648,200. This represents a 23.9 per cent increase from November 2016 and a one per cent increase compared to October 2017.
Attached property sales in November 2017 totalled 446, an 18.6 per cent increase compared to the 376 sales in November 2016. The benchmark price of an attached unit is $805,200. This represents a 17.9 per cent increase from November 2016 and a 0.3 per cent increase compared to October 2017.
1080 Uplands Drive, Anmore, BC – Coming Spring 2018
Anmore’s first luxury net-zero home, Ten80 Uplands leads the pack with BC’s first Tesla 2 power wall, super high efficiency windows and doors, 46 solar panels, and state of the art heating and cooling system, while still boasting all the luxury design and features you'd expect in a nearly 9,000 sq. ft. modern luxury home.
Coming to market in Spring 2018, Ten80 Uplands is Building beyond luxury.
PGREM Client Appreciation 2017
Each year we have the privilege of working with amazing clients. Our client care is a top priority and in recognition of this, we held a year-end Client Appreciation Night in early December 2017.
It was a wonderful evening and a great opportunity for us to reaffirm our commitment to the people that we have had the privilege of working with throughout the past year. Thank you to all those that attended.
Merry Christmas and Happy New Year
Now that the Holiday Season is upon us, we would like to take this opportunity to wish you all a Merry Christmas and Happy New Year!
Our sincere thanks for your support, loyalty and goodwill throughout the year. We look forward to working with you again in 2018.
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!