 Hello and welcome to our Pinnacle Group Real Estate Marketing Summer 2019 Newsletter. As always, thank you for taking the time to read our update and hope that it proves to be informative for you! HighlightsThe British Columbia Real Estate Association (BCREA) reports that a total of 6,960 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June, a decline of 11.8 per cent from the same month last year. The average MLS® residential price in the province was $687,584, a decline of 4 per cent from June 2018. Total sales dollar volume was $4.8 billion, a 15.3 per cent decline from the same month last year. “BC home sales moderated lower in June after a stronger showing in May,” said BCREA Deputy Chief Economist Brendon Ogmundson. “While mortgage rates offered by lenders have moved below 3 per cent, a static qualifying rate has limited the impact of the lower cost of borrowing.” SOLD - 4116 Marine Ave, Belcarra, BC – $1,435,000 RARELY Available - Prime OCEANVIEW property on prestigious Marine Ave in Belcarra overlooking the serene waters of Bedwell Bay. Great OPPORTUNITY to Renovate/Expand original 3,245 sq. ft. custom home built in 1997 or BUILD your new DREAM HOME on the 21,256 sq. ft. elevated pedestal view lot. Just steps away from the sparkling water, you will love the scenic vista views and the privacy of this natural setting. Spacious 1,895 sq. ft. main level offers 3 bedrooms with large master suite and oceanview living/dining/kitchen and family rooms all opening onto a large wrap around deck with sensational water views. The lower level includes a grand foyer, 3-car garage and over 900 sq. ft. of storage area ready for your finishing ideas! For Sale – 3053 Anmore Creek Way, Anmore, BC – $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, 8-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 to truly appreciate! Open House: Sun 2-4pm For Sale – 1080 Uplands Drive, Anmore, BC – $6,498,000 Welcome to TEN80 Uplands Dr, a mountain contemporary masterpiece that is more than a prestigious landmark residence, this is a requisite and bold statement of "Building Beyond Luxury". This extraordinary 8,227 sq. ft. modern luxury home features stunning architecture and design combined with state of the art technology throughout. This magnificent residence sits on 0.82 acres of natural beauty. Its unique and luxurious sprawling floor plan has the characteristics of an eloquent Chateau, but the seductive feeling of an intimate family home. Ten80 leads with BC’s first Tesla 2 Powerwall, super high efficiency windows and doors, 46 solar panels, and unmatched heating and cooling system, all exceeding today’s modern luxury home expectations. Fall in love with the Whistler inspired architecture designed by award winning Bradbury Architecture and the clean line modern finishing of this remarkable residence. For Sale – 1083 Uplands Drive, Anmore, BC – $4,999,000 Welcome to TEN80 Uplands Dr, a mountain contemporary masterpiece that is more than a prestigious landmark residence, this is a requisite and bold statement of "Building Beyond Luxury". This extraordinary 8,227 sq. ft. modern luxury home features stunning architecture and design combined with state of the art technology throughout. This magnificent residence sits on 0.82 acres of natural beauty. Its unique and luxurious sprawling floor plan has the characteristics of an eloquent Chateau, but the seductive feeling of an intimate family home. Ten80 leads with BC’s first Tesla 2 Powerwall, super high efficiency windows and doors, 46 solar panels, and unmatched heating and cooling system, all exceeding today’s modern luxury home expectations. Fall in love with the Whistler inspired architecture designed by award winning Bradbury Architecture and the clean line modern finishing of this remarkable residence. For Sale – 220 Turtlehead Rd, Belcarra, BC – $3,698,000 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 – 3314 Bedwell Bay Rd, Belcarra, BC – $2,298,000  Simply stunning! This beautiful Gated Private residence has been completely renovated to the highest level with luxury designer finishing and sophisticated decor transforming this 6 bed, 4 bath residence into a modern family dream home. Perched high on just shy of an acre of manicured gardens and nestled in mature trees this location offers complete privacy while taking in the spectacular Ocean views of Bedwell from every window of the home. You will love the open concept floor plan making this an entertainers dream home with lower level games room, custom wine bar and sauna. The gourmet kitchen features top of the line s/s appliances, 6 burner range gorgeous marble island, and Italian beverage centre. This rare offering includes a three-car garage with coach house potential. OPEN HOUSE: Sun 2-4pm For Sale - 1256 Ioco Road, Port Moody, BC - $1,418,000 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 lot is ready to go with custom designer building plans in place for a spectacular new Modern Contemporary home with over 3,600 sq. ft. on 3 levels. This is the opportunity you've been waiting for. Call for full details. For Sale - 23422 Huston Dr, Maple Ridge, BC $1,038,800 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. Don’t miss your opportunity to own in this rare one of a kind location. Call today! For Sale - 404 3075 Primrose Lane - $388,800 BEAUTIFUL TOP FLOOR PENTHOUSE - Welcome to one of the most sought-after locations and floor-plans for a one-bedroom condo in Lakeside Terrace. This spacious 1 bed & 1 bath home features high valued ceilings, a unique layout, open concept kitchen, extra windows, cozy gas fireplace, and large master bedroom. Enjoy the peaceful soothing sounds and serene vistas lagoon courtyard while taking in the beautiful mountain views from your oversized patio. Enjoy the first-class private fitness centre, indoor glass enclosed pool, swirl pool and sauna. Conveniently located in the heart of Coquitlam, this fabulous home is just steps to Lafarge Lake, the Evergreen Sky Train Station, West Coast Express, Douglas College, Aquatic Complex, Coquitlam Centre Mall, Shops & Restaurants. Call today! Metro Vancouver Real Estate UpdateHousing supply up, home sales and prices down in June VANCOUVER, BC – July 3, 2019 –With home buyer demand below long-term historical averages in June, the supply of homes for sale continued to accumulate in Metro Vancouver*. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,077 in June 2019, a 14.4 per cent decrease from the 2,425 sales recorded in June 2018 and a 21.3 per cent decrease from the 2,638 homes sold in May 2019. Last month’s sales were 34.7 per cent below the 10-year June sales average. This is the lowest total for the month since 2000. “We’re continuing to see an expectation gap between home buyers and sellers in Metro Vancouver,” said Ashley Smith, REBGV president. “Sellers are often trying to get yesterday’s values for their homes while buyers are taking a cautious, wait-and-see approach.” On the supply side, there were 4,751 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2019. This represents a 10 per cent decrease compared to the 5,279 homes listed in June 2018 and an 18.9 per cent decrease compared to May 2019 when 5,861 homes were listed. The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 14,968, a 25.3 per cent increase compared to June 2018 (11,947) and a 1.9 per cent increase compared to May 2019 (14,685). “Home buyers haven’t had this much selection to choose from in five years,” Smith said. “For sellers to be successful in today’s market, it’s important to work with your local REALTOR® to make sure you’re pricing your home for these conditions.” For all property types, the sales-to-active listings ratio for June 2019 is 13.9 per cent. By property type, the ratio is 11.4 per cent for detached homes, 15.8 per cent for townhomes, and 15.7 per cent for apartments. Generally, analysts say that 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 MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $998,700. This represents a 9.6 per cent decrease over June 2018 and a 0.8 per cent decrease compared to May 2019.  This is the first time the composite benchmark has been below $1 million since May 2017. Sales of detached homes in June 2019 reached 746, a 2.6 per cent decrease from the 766 detached sales recorded in June 2018. The benchmark price for detached properties is $1,423,500. This represents a 10.9 per cent decrease from June 2018 and a 0.1 per cent increase compared to May 2019. Sales of apartment homes reached 941 in June 2019, a 24.1 per cent decrease compared to the 1,240 sales in June 2018. The benchmark price of an apartment property is $654,700. This represents an 8.9 per cent decrease from June 2018 and a 1.4 per cent decrease compared to May 2019. Attached home sales in June 2019 totalled 390, a 6.9 per cent decrease compared to the 419 sales in June 2018. The benchmark price of an attached unit is $774,700. This represents an 8.6 per cent decrease from June 2018 and a 0.6 per cent decrease compared to May 2019. Contact UsAt 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. We look forward to hearing from you!
Pinnacle Group Real Estate Marketing
Andrea Jauck Kris Cyganiak Mathew Jauck [email protected] [email protected] [email protected] 604-783-3124 778-836-3302 604-724-5322
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