Metro Vancouver housing market experienced a slowdown in price gains and a shift in supply and demand dynamics during September, which is consistent with typical seasonal patterns in the real estate market. In September, there was a decline in sales activity. This seasonal pattern is common in real estate, with market activity often slowing down as summer transitions into the fall. Inventory levels in the market increased modestly in September. This suggests that more properties became available for sale, potentially giving buyers more options.

In September 2023, a total of 5,446 properties, including detached homes, attached homes, and apartment properties, were newly listed for sale on the Multiple Listing Service® (MLS®). This number represents a substantial 28.4 % increase in new listings compared to September 2022, when 4,243 homes were listed for sale. 

Detached Home Sales: In September 2023, there were 572 sales of detached homes, which is a 7.5% increase compared to the 532 detached sales recorded in September 2022. The benchmark price for a detached home in September 2023 is $2,017,100. This represents a 5.8% increase from the same month in the previous year (September 2022).

Apartment Home Sales: In September 2023, there were 988 sales of apartment homes, marking an 11.3% increase compared to the 888 sales recorded in September 2022. The benchmark price for an apartment home in September 2023 stands at $768,500. This represents a 5.8% increase from the same month in the previous year (September 2022).

Attached Home Sales: In September 2023, there were 352 sales of attached homes, which represents a substantial 28.5% increase compared to the 274 sales recorded in September 2022. The benchmark price for an attached home in September 2023 is $1,098,400. This benchmark price reflects the average value of attached homes in the market.

Fraser Valley

Greater Vancouver

Metro Vancouver

Interested to discuss the current market situation, have some questions?

Wondering if its a good time to sell and buy? Looking for investment opportunity in a real estate market and want to hear pros and cons, lets dicsuss all the avilable options. 

Please contact us today at 604-442-9422

Anna Litvak Joseph PREC*

Top 10% of realtors in Greater Vancouver

BC Prime Real Estate Group

604-442-9422

anna@bcprimerealty.com

Keller Williams Elite Realty, Port Coquitlam, B.C.

Here's the difference between pre-qualification and pre-approval: during the mortgage application process, you will speak with a lender (or maybe several as you shop around for the best loan options). During your initial conversation, your lender is going to ask you a series of questions about your financial situation. During that conversation, they will let you know approximately how much mortgage they think that you'll qualify for and what the top of your price range should be during the house-hunting process. This is your pre-qualification, not pre-approval.

Your pre-approval will take place once your lender runs your credit score, checks bank statements, verifies employment and reviews proof of assets or investments (every situation is a little bit different). It is important to know the distinction because unless you have an official pre-approval letter signed by your lender in-hand, you are not pre-approved.

In this competitive market, it's crucial to submit a pre-approval letter with your offer and the last thing I would want is for you to miss out on your home because of a little confusion. If you are ready to get pre-qualified or pre-approved, just DM me and I'll refer you to one of my lender partners for initial conversation.

Interested to discuss the current market situation, have some questions?

Wondering if its a good time to sell and buy? Looking for investment opportunity in a real estate market and want to hear pros and cons, lets dicsuss all the avilable options. 

Please contact us today at 604-442-9422

Anna Litvak Joseph PREC*

Top 10% of realtors in Greater Vancouver

BC Prime Real Estate Group

604-442-9422

anna@bcprimerealty.com

Keller Williams Elite Realty, Port Coquitlam, B.C.

Here's why the highest offer doesn't always win.

While it's true that in many cases, a home seller will take the highest offer on their home to maximize their return on investment, there is no guarantee that the highest offer will be accepted.

Check out these three scenarios where the highest offer might not talk the loudest:

1. All-cash offer: When you pay in cash, sellers sleep easy, knowing there's no risk of financing going sideways. Confidence is a key selling point!

2. Swift closure: Got the ability to close quickly? That's golden, especially if the seller is on a strict timeline. Speed can beat the highest bidder.

3. No strings attached: Offers without contingencies can be very tempting, as they minimize potential complications and delays.​

So while putting your best financial foot forward is important, remember, it's not always about the money. Each seller has their own priorities.

Interested to discuss the current market situation, have some questions?

Wondering if its a good time to sell and buy? Looking for investment opportunity in a real estate market and want to hear pros and cons, lets dicsuss all the avilable options. 

Please contact us today at 604-442-9422

Anna Litvak Joseph PREC*

Top 10% of realtors in Greater Vancouver

BC Prime Real Estate Group

604-442-9422

anna@bcprimerealty.com

Keller Williams Elite Realty, Port Coquitlam, B.C.

Buyers, you do not want to miss this essential document!

Understanding the seller’s disclosure, also known as a Property Disclosure Statement (PDS), is integral to your buyer's due diligence.

It’s a legal document provided by the seller that details the condition of the property. It helps you as the buyer make an informed decision and decide whether or not to buy the property. British Colunbia require a seller’s disclosure as it supports both parties. In contrast, other Provinces only require you to disclose a latent material defect (a defect in the home that is not discoverable through an inspection and may make the home dangerous to live in or even inhabitable).

Buyers can decide whether or not they want to buy the property. And sellers will be able to protect themselves from getting sued by the buyers if something is found to be terribly wrong after the sale is complete.

Your agent will guide you through the process of reviewing and understanding the seller’s disclosure so you can make the best decision for your real estate needs. If you have any questions about this process, don't hesitate to reach out!

Interested to discuss the current market situation, have some questions?

Wondering if its a good time to sell and buy? Looking for investment opportunity in a real estate market and want to hear pros and cons, lets dicsuss all the avilable options. 

Please contact us today at 604-442-9422

Anna Litvak Joseph PREC*

Top 10% of realtors in Greater Vancouver

BC Prime Real Estate Group

604-442-9422

anna@bcprimerealty.com

Keller Williams Elite Realty, Port Coquitlam, B.C.

As summer comes to an end, the market often sees a cooling effect, with both price gains and sales slowing down. This pattern can be attributed to factors like families settling in before the start of the school year and people generally being more focused on vacations and leisure during the summer months. 

In addition, the higher borrowing costs likely pertains to rising mortgage interest rates. When interest rates increase, it can make borrowing more expensive for potential homebuyers. This, in turn, can lead to decreased demand, which can contribute to a slowdown in both price growth and sales activity.

New Listings: In August 2023, there were 3,943 new properties listed for sale on the MLS®. These properties encompassed detached houses, attached homes, and apartments. 

Year-Over-Year Comparison: Compared to August 2022, there was an 18.1% increase in the number of new listings. This suggests that more properties became available for sale in August 2023 than in the same month the previous year.

These statistics reflect changing dynamics in the Metro Vancouver real estate market. An increase in new listings can provide buyers with more options and potentially ease some of the competitive pressures seen in markets with low inventory.

Detached Home Sales: In August 2023, there were 591 sales of detached homes. This figure represents a 13.2%  increase compared to August 2022 when 522 detached home sales were recorded. The benchmark price for a detached home in Metro Vancouver was $2,018,500 in August 2023.

Apartment Home Sales: In August 2023, there were 1,270 sales of apartment homes. This figure represents a substantial 27.4% increase compared to August 2022 when there were 997 apartment home sales. The benchmark price for an apartment home in Metro Vancouver was $770,000 in August 2023.

Attached Home Sales: In August 2023, there were 422 sales of attached homes. This figure represents an 18.9% increase compared to August 2022 when there were 355 attached home sales. The benchmark price for an attached home in Metro Vancouver was $1,103,900 in August 2023.

Fraser Valley

Greater Vancouver

Metro Vancouver

Interested to discuss the current market situation, have some questions?

Wondering if its a good time to sell and buy? Looking for investment opportunity in a real estate market and want to hear pros and cons, lets dicsuss all the avilable options. 

Please contact us today at 604-442-9422

Anna Litvak Joseph PREC*

Top 10% of realtors in Greater Vancouver

BC Prime Real Estate Group

604-442-9422

anna@bcprimerealty.com

Keller Williams Elite Realty, Port Coquitlam, B.C.

The rise in home prices in Metro Vancouver in July can be attributed to the combination of strong sales figures and a shortage of housing inventory. When demand for homes outweighs the available supply, prices tend to increase as buyers compete for the limited number of properties available.

The continuous rise in home prices can have both positive and negative implications. On one hand, it can be beneficial for homeowners who see the value of their properties increase. However, it may also create challenges for potential homebuyers, particularly first-time buyers, who may find it increasingly difficult to enter the housing market.

The real estate market in Metro Vancouver saw a notable increase in sales of detached homes in July 2023 compared to the same month in the previous year. Specifically, there were 681 sales of detached homes in July 2023, which marks a significant 28.7%  rise from the 529 detached home sales in July 2022. In addition to the increase in sales, the benchmark price for a detached home in Metro Vancouver also showed an upward trend. The benchmark price for a detached home in July 2023 is $2,012,900.

The apartment home segment of the Metro Vancouver real estate market experienced significant growth in sales in July 2023 compared to the same month in the previous year. There were 1,281 apartment home sales in July 2023, marking a notable 20.7% increase from the 1,061 apartment home sales in July 2022. The benchmark price for an apartment home in July 2023 is $771,600.

The attached home segment of the Metro Vancouver real estate market also experienced a significant surge in sales in July 2023 compared to the same month in the previous year. There were 466 attached home sales in July 2023, marking an impressive 53.3% increase from the 304 attached home sales in July 2022. The benchmark price for an attached home in July 2023 is $1,104,600.

Fraser Valley

Greater Vancouver

Metro Vancouver

Interested to discuss the current market situation, have some questions?

Wondering if its a good time to sell and buy? Looking for investment opportunity in a real estate market and want to hear pros and cons, lets dicsuss all the avilable options. 

Please contact us today at 604-442-9422

Anna Litvak Joseph PREC*, Top 10% of realtors in Greater Vancouver

British Columbia's Top real estate agent, Anna Litvak Joseph PREC,
BC Prime Real Estate Group

I am honored to be part of the 2023 edition of Excellence in Real Estate by Glacier Media!

"Being invited to be featured as part of the Excellence In Real Estate catalog year after year is a true achievement for me. It is truly an honor to be recognized alongside such esteemed real estate professionals in Metro Vancouver and the Lower Mainland."

Check out page 7 OF The Excellence in Real Estate 2023 edition to Read Anna Litvak Joseph's story; this year's story is about the expansion of the team to 5 licensed real estate agents.

CHECK OUT THE FULL DIGITAL MAGAZINE HERE:

2023 Excellence in Real Estate magazine: Vancouver's top realtors - Vancouver Is Awesome

OR LET ME KNOW, AND I WILL SEND YOU A FREE PRINTED COPY :)

E

Experience the joy of this exciting project located in the heart of Burke Mountain, this meticulously planned development that offers an ideal environment for your child's complete educational experience and outdoor activities. Situated in close proximity to a variety of schools, it ensures that your child's scholastic journey is well-catered for at every stage. Whether they are starting their academic journey or pursuing higher education, the surrounding schools provide a comprehensive range of educational opportunities.

Additionally, this project boasts an array of parks and playgrounds, allowing children to explore the outdoors and engage in adventurous activities. These recreational spaces offer a perfect blend of fun and learning, promoting physical fitness, social interaction, and imaginative play.

One of the advantages of being an owner at this exciting project is the priority enrollment provided for the on-site daycare facility. This means that as a resident, you will have the convenience and peace of mind knowing that your child's daycare needs are taken care of within the community.

These innovative 'urban townhome' design offers 3-Bedroom homes all the way to 4-Bedroom + Dens. 

Pricing structure:

3-Bed, 2 Bath over 1600sqft starting at just $1,039,900

3-Bed+Den, 2.5 Bath over 2,200 sqft starting at $1,218,900

By blending contemporary layouts, stylish kitchens, large foyers, and waterproof flooring, this new development creates a living environment that combines both form and function. The developers have carefully considered the needs of modern families, making everyday life more comfortable and convenient. Whether you're relaxing with your family or hosting friends, these thoughtful features contribute to an enhanced living experience.

Don't wait to secure your home dream!

Presale homes are a great opportunity for investors, first time home buyers, or folks making a family legacy purchase. Presale allows you to purchase a home prior to it being move-in ready, frequently before construction has begun. Typically, presale offers you the ability to choose a home with a layout style and number of bedrooms to suites your needs, in a colour scheme that suites your tastes. When going through available projects, we will put your interests first and be accountable to you, we will provide you with honest Market Knowledge, we will Take the Emotion and Stress out of the Transaction – Buying a Home Can Be Time Consuming, and we will negotiate with the developer as we have contract knowledge and expertise, and all of these are FREE to you!

Contact us today and get A PRE-SALE SPECIALIST FREE CONSULTATION

Anna Litvak Joseph PREC*, Top 10% of realtors in Greater Vancouver

British Columbia's Top real estate agent, Anna Litvak Joseph PREC,
BC Prime Real Estate Group

Exciting news about the pre-sale in Willoughby, Langley! A 74 acre master planned community with 17 acre green space! It's always a promising opportunity when a highly sought-after complex releases new phases. The demand from previous phases selling out quickly indicates the popularity and desirability of the development.

Located at 200th Street and 80th Avenue, the complex is situated in a convenient area of Willoughby. It's important to note that pre-sales often provide an opportunity for buyers to secure a unit before the completion of the project, allowing them to potentially benefit from early pricing and customization options.

Pricing structure:

Exciting development! The Riley Park neighborhood in Vancouver is indeed a desirable location with its proximity to Main Street and Queen Elizabeth Park. With a range of studio to 3-bedroom + flex homes, the condos offer a variety of options to suit different needs. The condos likely provide a good balance of convenience and livability. The established community in Riley Park adds to the charm and character of the neighborhood.

This project offers a family-friendly living environment with its convenient location, access to transportation, nearby amenities, and recreational opportunities. It provides a balance between peaceful residential living and easy access to urban conveniences, making it an attractive community for families seeking a quality lifestyle.

The spacious, open-concept designed to create a harmonious blend of warmth and modern elegance. With its thoughtful layout, this living space provides a comfortable and inviting atmosphere for residents.

One of the key features enhancing the grandeur of the area is the 9-foot ceiling height. The higher ceiling creates a sense of spaciousness and allows for better air circulation, contributing to a more comfortable living environment. It also adds a touch of luxury to the overall design, giving the space a more upscale feel.

LOWEST PRICES structure for pre sale Townhomes in Burke Mountain, Coquitlam.

Starting prices are:

2 Bedroom + Den from $899,000.

3 Bedroom from $1,049,000.

Deposit 10%.

Estimate Completion: end of 2025.

Presale homes are a great opportunity for investors, first time home buyers, or folks making a family legacy purchase. Presale allows you to purchase a home prior to it being move-in ready, frequently before construction has begun. Typically, presale offers you the ability to choose a home with a layout style and number of bedrooms to suites your needs, in a colour scheme that suites your tastes. When going through available projects, we will put your interests first and be accountable to you, we will provide you with honest Market Knowledge, we will Take the Emotion and Stress out of the Transaction – Buying a Home Can Be Time Consuming, and we will negotiate with the developer as we have contract knowledge and expertise, and all of these are FREE to you!

Contact us today and get A PRE-SALE SPECIALIST FREE CONSULTATION

Anna Litvak Joseph PREC*, Top 10% of realtors in Greater Vancouver

British Columbia's Top real estate agent, Anna Litvak Joseph PREC,
BC Prime Real Estate Group