Hello and welcome to our Pinnacle Group Real Estate Marketing Fall 2019 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 7,666 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, an increase of 19.3 per cent from the same month last year. The average MLS® residential price in the province was $724,045, an increase of 5.1 per cent from October 2018. Total sales dollar volume was $5.55 billion, a 25.4 per cent increase from the same month last year.
“Most markets around the province are returning to a more typical level of sales activity,” said BCREA Chief Economist Brendon Ogmundson. “That recovery in sales and slower listings activity is putting upward pressure on prices in many markets.”
1080 Uplands Dr, Anmore, BC - For Sale - $6,498,000
TEN80 Uplands Dr, a new Contemporary Masterpiece, is more than a Prestigious Landmark Residence; this is a bold statement of "Building Beyond Luxury". This extraordinary 8,227 sq. ft. modern luxury home set upon a .82-acre mountain view lot is surrounded by natural beauty. Designed by award winning Bradbury Architecture the unique and luxurious sprawling floor plan has characteristics of an eloquent Chateau, but the seductive feeling of an intimate family home featuring exquisite craftsmanship and state-of-the-art technology throughout. Ten80 leads with BC’s first Tesla 2 Powerwall, super high efficiency windows and doors, 46 solar panels, and unmatched HVAC systems. Fall in love with the stunning Whistler inspired architecture and modern finishing of this remarkable residence. Call today!
3053 Anmore Creek Way, Anmore, BC - For Sale - $6,298,000
Welcome to Mountain View Estates a spectacular Whistler inspired Gated Private Residence situated on a flat one acre lot. No expense spared with an astonishing level of detail exceeding most 5-star world class resorts. 10,207 sq. ft. 6 bed, 10 bath main residence, air conditioning, heated floors, million dollar theatre room, chef’s kitchen, temperature-controlled wine room, 12 seat formal dining, man-cave downstairs with bar, lounge and poker and pool table, 6-car showcase garage, exterior covered deck with outdoor kitchen, barbecue area, covered lounge, heaters, speakers, wood burning fireplace. Lush manicured grounds include stunning $3.5 million poolhouse and garden, gym, subterranean spa, 5-hole golf putting green, convertible (basketball, tennis, hockey) sports court, meandering trails and waterfall. Crestron automation and 2nd gated entrance offers complete privacy. A must see!
EXCLUSIVE LISTING - 2057 Ridge Mountain Drive, Anmore, BC - For Sale - $5,388,000
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!
1083 Uplands Dr, Anmore, BC - For Sale - $4,498,000
BREATHTAKING panoramic views with SPECTACULAR Modern Contemporary Architecture make this exclusive 1.27 acre Gated Estate truly exceptional. Offering 6,807 sq. ft. of unparalleled elegance and refined design with an open concept floor plan, massive great room, ultra large Westeck windows, gourmet chefs kitchen, centre island, natural stone countertops, Wolf and Sub-Zero appliances, wine bar and 2nd kitchen, infloor heat, brass railing, custom woodwork, imported Spanish hardwood floor, smart home/security, home theatre. Upstairs find a Luxurious Master Suite with a Resort Style Ensuite, huge oversized shower and walk in wardrobe. Enjoy indoor/outdoor living with an LA Style 1,105 sq. ft. dream outdoor space with fire pit and heaters. This is the ultimate in Luxury Living. Call today!
105 Elementary Road, Anmore, BC - For Sale - $3,298,000
Nature at its finest! Welcome to Whispering Creek Estate. This private oasis is nestled in a serene setting with a magnificent log home situated on 4.314 beautiful acres with the “OPPORTUNITY to Build a 2nd Home” on one of the flat acres. Create a family compound or consider a Bed & Breakfast/Wellness Retreat. You will love the traditional rustic feel of the Nordic Log Home that is built to last with its functional layout, post and beam details, stunning rock face wood burning fireplace, cozy kitchen with built-in seating, beautiful hardwood flooring, vaulted ceilings, and an impressive master suite that brings the serenity of nature indoors. Just minutes to Newport Village, Shopping, Dining, Recreation, Schools and 40 min to downtown Vancouver. This is country living in the city. Call today!
3067 Timber Court, Coquitlam, BC - For Sale - $1,929,000
Spectacular Fully Renovated 6 bed, 5 bath, Luxury Custom Home on desirable quiet cul-de-sac in Westwood Plateau. Enter to a gorgeous glass staircase, stunning light fixtures and beautiful hardwood flooring throughout. Great floor plan with new bright white gourmet kitchen offers lots of space with a breakfast bar and nook overlooking a 2-storey great room with access to the landscaped backyard. Fabulous living room leads to large patio taking in the southern views, formal dining room, and bedroom on main is perfect for in-laws or guests. Upstairs offers 4 large bedrooms, beautifully renovated bathrooms, customs blinds and sensational master suite with large soaker tub and oversized shower. Finished lower level offers many options with large open spaces. Three car garage. Call today!
#3-1318 Brunette Ave, Coquitlam, BC - For Sale - $598,800
Beautiful 2 bedroom + flex room town home perfectly located with unobstructed treed views from the front and back. Recently updated with fresh paint, new flooring, countertops. You will love the spacious open concept floor plan with large dining room, family room and cozy gas fireplace. Upstairs features a gorgeous master-bedroom with sitting area potential, green space views and large spa like ensuite. Enjoy the walkout flex room downstairs leading to the fenced backyard perfect for kids and pets. Easy access to Hwy-1, Lougheed, 6 Minutes on BUS-156 to BRAID Skytrain, shopping mall. WALK to MACKIN Park, schools, major retailers, shops, restaurants and theatres. Call today!
1256 Ioco Rd, Port Moody, BC - For Sale - $1,369,000
LOT For Sale - Build your Dream Home on Ioco's Golden Mile. Enjoy the Charm of Port Moody Living with spectacular inlet water views and incredible sunsets. This south-side building lot is ready to go with custom designer home plans in place for a (proposed) spectacular new Modern Contemporary house with over 3,600 sq. ft. on 3 levels. Existing home & structure on lot has no value and is ready for demo. This is the opportunity you've been waiting for. Call for full details.
SOLD – 3314 Bedwell Bay Rd, Belcarra, BC – $2,058,000
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.
SOLD - 23422 Huston Dr, Maple Ridge, BC - $1,000,000
Beautiful GREENBELT 4 bed & 3 bath family home located at the end of a quiet street and nestled in nature with sounds of the soothing creek in the background. Soak up the sun and enjoy life with south/west views in the sought after family neighbourhood at Balsam West. This gorgeous meticulously maintained home features a touch of country charm, an open concept great room floor plan, with office on the main, gourmet kitchen and an abundance of windows taking the natural light and views. Upstairs offers four generous bedrooms with a luxurious master retreat featuring vaulted ceilings and a spa like en-suite. Lower level awaits your finishing ideas and is roughed in for a beautiful suite with separate entry.
SOLD - 20384 Kent Street, Maple Ridge , BC – $605,000
Charming updated 2 bed, 2 bath home in the redeveloping SW Maple Ridge. Why buy a town home when you can own land, have a beautiful backyard with gorgeous stamp concrete, detached workshop, shed with power, covered patio for evening barbecues and an adorable playhouse for kids. Inside features a beautiful updated kitchen with maple cabinets, stainless steel appliances, gas stove, hardwood flooring and fresh paint. You will love the elegant freestanding cast iron tub, cozy gas fire place, exterior garden atmosphere and ample amounts of parking. Close to the West Coast Express, shopping schools and just minutes to Golden Ears Bridge, with access to Langley and Vancouver.
Metro Vancouver Real Estate Update
November 4, 2019 – The Metro Vancouver* housing market is experiencing a fall pickup in home sale activity.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,858 in October 2019, a 45.4 per cent increase from the 1,966 sales recorded in October 2018, and a 22.5 per cent increase from the 2,333 homes sold in September 2019.
Last month’s sales were 9.8 per cent above the 10-year October sales average.
“Home buyers have more confidence today than we saw in the first half of the year,” says Ashley Smith, REBGV president. “With prices edging down over the last year and interest rates remaining low, hopeful home buyers are becoming more active this fall.”
There were 4,074 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2019. This represents a 16.4 per cent decrease compared to the 4,873 homes listed in October 2018 and a 16.3 per cent decrease compared to September 2019 when 4,866 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,236, a 5.8 per cent decrease compared to October 2018 (12,984) and a nine per cent decrease compared to September 2019 (13,439).
For all property types, the sales-to-active listings ratio for October 2019 is 23.4 per cent. By property type, the ratio is 17.3 per cent for detached homes, 26.2 per cent for townhomes, and 29 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 recent uptick in home sales is moving us into a more historically typical market,” Smith said. “Both sale and listing activity is trending around our long-term averages in recent months.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $992,900. This represents a 6.4 per cent decrease from October 2018, a 1.7 per cent decrease over the past six months, and a 0.2 per cent increase compared to September 2019.
Sales of detached homes in October 2019 reached 938, a 47.3 per cent increase from the 637 detached sales recorded in October 2018. The benchmark price for a detached home is $1,410,500. This represents a 7.5 per cent decrease from October 2018, a 1.3 per cent decrease over the past six months, and a 0.3 per cent increase compared to September 2019.
Sales of apartment homes reached 1,384 in October 2019, a 40.5 per cent increase compared to the 985 sales in October 2018. The benchmark price of an apartment home is $652,500. This represents a 5.9 per cent decrease from October 2018, a 2.2 per cent decrease over the past six months, and a 0.2 per cent increase compared to September 2019.
Attached home sales in October 2019 totalled 536, a 55.8 per cent increase compared to the 344 sales in October 2018. The benchmark price of an attached home is $771,600. This represents a 5.8 per cent decrease from October 2018, a 0.4 per cent decrease over the past six months, and a 0.5 per cent increase compared to September 2019.
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 us directly.