Hello and welcome to our Pinnacle Group Real Estate Marketing Fall 2017 Newsletter. As always, thank you for taking the time to read our update and hope that it proves to be informative for you!
The British Columbia Real Estate Association (BCREA) reports that a total of 9,162 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August, an increase of 2.4 per cent from the same period last year. Total sales dollar volume was $6.2 billion, up 22 per cent from August 2016. The average MLS® residential price in the province was $678,186, a 19.1 per cent increase from August 2016.
“BC home sales in August remained unchanged from July, on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. “Strong economic conditions are underpinning demand. However, rising home prices combined with upward pressure on mortgage interest rates is expected to temper demand over the balance of the year.”
Year-to-date, BC residential sales
dollar volume was down 15.9 per cent to $51.8 billion, when compared with the same period in 2016. Residential unit sales declined 15.0 per cent to 73,267 units, while the average MLS® residential price was down 1.1 per cent to $706,839.
For Sale – 4301 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.
A Day at 4301 Bedwell Bay Rd, Belcarra, BC – Video
Welcome to this brand new ultra-modern luxury home, located in a perfect west coast setting between forest and sea, spectacularly overlooking the ocean in beautiful Belcarra, British Columbia. Nestled 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. 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– $2,988,000
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!
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 – 3612 Kelly Ave, Belcarra, BC – $1,698,000
Resort living at its finest in Belcarra. Nestled in serene, lush manicured gardens overlooking the sparking ocean and aqua swimming pool with mountain vista views in the background find this gorgeous executive family home. Enjoy expansive exterior deck spaces for summer barbecues, fabulous poolside area featuring stamped concrete with pool shed and hot tub area, and the tranquil waterfall feature. You will love the open concept floor plan featuring beautiful renovations inside with expansive windows taking in the stunning views with an abundance of natural light. The gourmet kitchen featuring high vaulted ceilings, new marble centre island top, 6-burner gas range, Sub Zero, Kitchen Aid, Bosch appliances & custom cabinetry. Downstairs offers a den, two large bedrooms and a second kitchen perfect for family or in-laws. Extras include in floor radiant heat, A/C, security system, steam shower, surround sound and more. Located on quiet street just minutes from the Park, White Pine Beach, walking trails, Buntzen Lake and vibrant Port Moody, Newport Village and Rocky Point. Come experience the best of West Coast living.
Metro Vancouver Real Estate Update
VANCOUVER, B.C. – October 3, 2017 – Apartment and townhome activity is outpacing the detached home market across Metro Vancouver. This activity helped push total residential sales above the historical average in September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,821 in September 2017, a 25.2 per cent increase from the 2,253 sales recorded in September 2016, and a 7.3 per cent decrease compared to August 2017 when 3,043 homes sold.
Last month’s sales were 13.1 per cent above the 10-year September sales average.
“Our detached homes market is balanced today, while apartment and townhome sales remain in sellers' market territory,” Jill Oudil, REBGV president said. “If you’re looking to enter the market, as either a buyer or seller, it’s important to understand these trends and use this information to set realistic expectations.”
There were 5,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2017. This represents a 12 per cent increase compared to the 4,799 homes listed in September 2016 and a 26.6 per cent increase compared to August 2017 when 4,245 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,466, a 1.2 per cent increase compared to September 2016 (9,354) and a 7.5 per cent increase compared to August 2017 (8,807).
“Detached homes made up 30 per cent of all sales in September and represented 62 per cent of all the homes listed for sale on the MLS®,” said Oudil. “This dynamic has slowed the pace of upward pressure that we’ve seen on detached home prices in our market over the last few years.”
For all property types, the sales-to-active listings ratio for September 2017 is 29.8 per cent. By property type, the ratio is 14.6 per cent for detached homes, 42.3 per cent for townhomes, and 60.4 per cent for apartments.
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 $1,037,300. This represents a 10.9 per cent increase over September 2016 and a 0.7 per cent increase compared to August 2017.
Sales of detached properties in September 2017 reached 852, a 27.9 per cent increase from the sales recorded in September 2016 (666), a decrease of 33 per cent from September 2015 (1,272), and a decrease of 32.9 per cent from September 2014 (1,270). The benchmark price for detached properties is $1,617,300. This represents a 2.9 per cent increase from September 2016 and a 0.1 per cent increase compared to August 2017.
Sales of apartment properties reached 1,451 in September 2017, a 19.1 per cent increase compared from the sales recorded in September 2016 (1,218), a 5.1 per cent decrease from September 2015 (1,529), and a 22.1 per cent increase from September 2014 (1,188). The benchmark price of an apartment property is $635,800. This represents a 21.7 per cent increase from September 2016 and a 1.4 per cent increase compared to August 2017.
Attached property sales in September 2017 totalled 518, a 40.4 per cent increase compared to the sales recorded in September 2016 (369), a 4.8 per cent decrease from September 2015 (544), and an 11.6 per cent increase from September 2014 (464). The benchmark price of an attached home is $786,600. This represents a 14.5 per cent increase from September 2016 and a 1.1 per cent increase compared to August 2017.
1080 Uplands Drive, Anmore, BC – Coming Soon
Ten80 Uplands is Building beyond luxury.
Introducing Anmore’s first luxury net-zero home. Ten80 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.
Ladies Night In Event - Saturday, Nov 4, 2017
Join Andrea Jauck of Pinnacle Group Real Estate Marketing for a spectacular evening at the 6th Annual Ladies Night In – Diamonds are Forever - fundraising event on Saturday, Nov 4, 2017 at a brand new luxury home in Belcarra.
Tickets include your very own 007 Vesper Martini upon arrival served up by our Bondmen. Enjoy a selection of BC Wine tasting, decadent canapés catered, fabulous fashion show, various boutiques to shop at, did we mention Bond-men, prizes, contests & much more!
All for a good cause benefiting the Eagle Ridge Hospital foundation.
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!