The British Columbia Real Estate Association (BCREA) released its 2021 Fourth Quarter Housing Forecast.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 29 per cent to 121,450 units this year, after recording 94,013 sales in 2020. In 2022, MLS® residential sales are forecast to pull back 15 per cent to 102,750 units.
“After a frenzied start to the year, activity in BC housing markets has settled back to a level that is broadly in-line with long-run trends. The strength of the first half of this year has sales on track to easily break the previous record for annual sales,” said BCREA Chief Economist, Brendon Ogmundson. “While we do not anticipate a repeat of the record-setting market of 2021, we do expect housing market activity to remain vigorous in 2022,” added Ogmundson.
Given strong demand and very low active listings, particularly in smaller markets around BC, the average home price in BC is projected to rise 17 per cent in 2021. Prices are forecast to rise about 3 per cent in 2022 as the composition of home sales changes due to normalizing demand for single-family homes and a recovery in active listings helps the market balance out.
3350 Watson Rd, Belcarra - FOR SALE - $7,700,000
West Coast Waterfront Masterpiece. Designed by award-winning Bradbury Architecture, this stunning modern contemporary luxury residence sits on a private tranquil site with a 100ft of low bank waterfront, a Private Dock with deep water moorage, and spectacular BC coastal views. Designed with the Oceanview in mind the home offers seamless indoor/outdoor living with a wall of Eurovision sliding doors and floor to ceiling windows showcasing the stunning panoramic ocean views from every room. Built to Step Code 3 standards, this highly efficient home features high-efficiency boilers and 7 zones radiant in-floor heating. This true resort-like setting offers tranquility, serene beauty, and nature, your perfect oceanfront escape. Only 10mins by boat to Deep Cove and 40 minutes to Vancouver.
146 April Rd, Port Moody, BC - FOR SALE - $2,498,000
Elegance, Sophistication and Charm describe this awe inspiring 4 bed, 3 bath home perched high on a 9,703 sq. ft. lot with magnificent ocean views of Burrard Inlet. Fall in love with the warmth of the natural tone of the gorgeous finishing’s from the hardwood flooring, beautiful, renovated bathrooms, updated kitchen with stainless steel appliances to the open concept post and beam architecture that fit seamlessly with the mid-century decor and amazing artwork. Rest, Relax and indulge in life's true pleasure with the mesmerizing beauty and serenity of nature as you soak up the sun, peace, and tranquility of the property’s manicured park like garden setting. Enjoy warm summer days/evenings from the large covered outdoor wrap around deck taking in the magnificent views.
3053 Anmore Creek Way, Anmore, BC - SOLD - $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 - SOLD - $4,325,000
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.
184 Turtlehead Road, Belcarra, BC - SOLD - $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.
3990 Marine Ave, Belcarra, BC - SOLD - $2,900,000
Rarely is the opportunity available to have your own PRIVATE Dock in Bedwell Bay. Welcome to this charming seaside West Coast Contemporary residence perched high on a beautifully landscaped 1/3-acre lot with stunning ocean and mountain views. You will love the open concept floor plan with gorgeous interiors including a spectacular gourmet kitchen/living/dining area with incredible ocean views from both levels and a wraparound oversized deck & patios perfect for summer BBQ. Downstairs offers a lower-level walkout that can be converted into a beautiful bed & breakfast space. This amazing home has been partially renovated with new siding, windows, roof, carpet, flooring, kitchen, laundry, bathroom and awaits your ideas to complete to your taste. The large lot has ample space for parking, boat storage and room to grow. Just a short walk to your private dock with a large sun and barbecue deck. All this and more just a 5 min boat ride to deep cove & 40 minutes to Vancouver.
3875 Bedwell Bay Rd, Belcarra, BC - SOLD - $2,650,000
Experience the perfect combination of sensational Seaside Living with a DOCK SHARE for your boat and spectacular West Coast Modern Architecture in this gorgeous 6 bedroom, 5 bathroom split-level masterpiece with vaulted ceilings and a luxurious contemporary addition totalling over 4,100 sq. ft. of living space. Enjoy life surrounded by stunning natural elements, with Ocean and Mountain views across Indian Arm. This extensively updated open concept home features a striking perched lookout master bedroom suite, gourmet kitchen, and generous rooms fusing rustic features with seldom seen architectural detail together with a traditional addition, creating a totally unique personal sanctuary. Here you have it all, boating, hiking, nature. Just 10 min drive to SkyTrain and Shopping.
A104 8218 207A Street, Langley BC - SOLD - $653,000
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.
210 9168 Slopes Mews, Burnaby, BC - SOLD - $640,000
Bright and beautiful, corner 2 bed & 2 bath unit with 2 PARKING STALLS at VERITAS by award winning Polygon. Modern open concept floorplan with separated bedrooms for privacy, abundance of oversized windows taking in natural light and breath-taking city views, a beautiful gourmet kitchen with stainless appliances & gorgeous countertops, 9ft ceilings, a large, covered deck, a spacious master bedroom with walk-in closet and resort like ensuite with tiled seat in the shower. All this and more, enjoy the extra amenities such as a clubhouse with an exercise room, community garden and playground for kids. Just steps away to transit, Nestors, shopping, services, hiking trials and the renowned SFU. Domestic Hot water and in-floor heating included in Strata Fee.
211 12 K DE K Court , New Westminster, BC - SOLD - $497,000
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.
Metro Vancouver Real Estate Update
VANCOUVER, BC – October 4, 2021 – Home sale activity remains elevated across Metro Vancouver’s* housing market while the pace of homes being listed for sale continues to follow long-term averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,149 in September 2021, a 13.6 per cent decrease from the 3,643 sales recorded in September 2020, and a 0.1 per cent decrease from the 3,152 homes sold in August 2021.
Last month’s sales were 20.8 per cent above the 10-year September sales average.
There were 5,171 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2021. This represents a 19.2 per cent decrease compared to the 6,402 homes listed in September 2020 and a 28.2 per cent increase compared to August 2021 when 4,032 homes were listed.
September’s new listings were 1.2 per cent below the 10-year average for the month.
“The summer trend of above-average home sales and historically typical new listings activity continued in Metro Vancouver last month. Although this is keeping the overall supply of homes for sale low, we’re not seeing the same upward intensity on home prices today as we did in the spring,” Keith Stewart, REBGV economist said. “Home price trends will, however, vary depending on property type and neighborhood, so it’s important to take a hyperlocal look at your location and property category of choice before making a home buying or selling decision.”
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,236. This is a 29.5 per cent decrease compared to September 2020 (13,096), a 2.6 per cent increase compared to August 2021 (9,005) and is 27.7 per cent below the 10-year average for the month.
For all property types, the sales-to-active listings ratio for September 2021 is 34.1 per cent. By property type, the ratio is 25.5 per cent for detached homes, 53.1 per cent for townhomes, and 36.7 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 total inventory of homes for sale remains insufficient to meet the demand in today’s market. This scarcity limits peoples’ purchasing options and ultimately adds upward pressure on home prices,” Stewart said. “With the federal election now behind us, we hope to see governments at all level work with the construction industry to streamline the creation of a more abundant and diverse supply of housing options.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $ 1,186,100. This represents a 13.8 per cent increase over September 2020 and a 0.8 per cent increase compared to August 2021.
Sales of detached homes in September 2021 reached 950, a 27.9 per cent decrease from the 1,317 detached sales recorded in September 2020. The benchmark price for a detached home is $1,828,200. This represents a 20.4 per cent increase from September 2020 and a 1.2 per cent increase compared to August 2021.
Sales of apartment homes reached 1,621 in September 2021, a 1.6 per cent increase compared to the 1,596 sales in September 2020. The benchmark price of an apartment home is $738,600. This represents an 8.4 per cent increase from September 2020 and a 0.5 per cent increase compared to August 2021.
Attached home sales in September 2021 totalled 578, a 20.8 per cent decrease compared to the 730 sales in September 2020. The benchmark price of an attached home is $963,800. This represents a 17.5 per cent increase from September 2020 and a 1.2 per cent increase compared to August 2021.
Andrea Jauck - Top Agent Magazine
Andrea is honoured to have made the cover of Top Agent Magazine!
With all the changes, challenges & navigating through covid, I feel so blessed to have the opportunity to do what I love to do which is to help people achieve their real estate goals!
It has been a great year and I look forward to continuing to service our wonderful clients , making their Real Estate dreams come true with the help of my team!
t 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.
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