Home sales recorded on the MLS® in Metro Vancouver dropped by 3.8% in September compared to the previous year, indicating that recent cuts in borrowing costs have had a limited impact on boosting demand so far. Although September sales are slightly below expectations, this year’s sales could still surpass those of 2023.

Detached Home Sales- In September 2024, sales of detached homes totaled 516, marking a 9.8% decline from the 572 sales recorded in September 2023. The benchmark price for a detached home is now $2,022,200, reflecting a 0.5% increase from September 2023 but a 1.3% decrease compared to August 2024.

Apartment Home Sales- in September 2024 totaled 940, reflecting a 4.9% decline from the 988 sales in September 2023. The benchmark price for an apartment is $762,000, showing a 0.8% drop from September 2023 and another 0.8% decrease compared to August 2024.

Attached Home Sales- In September 2024, attached home sales reached 378, a 7.4% increase from the 352 sales recorded in September 2023. The benchmark price for a townhouse is now $1,099,200, reflecting a 0.5% decrease from September 2023 and a 1.8% drop compared to August 2024.

Despite the wide range of choices available, prices have remained stable over the past few months. However, the September data indicates modest month-over-month declines across all segments. This downward pressure on prices stems from sales not matching the influx of newly listed properties, pushing the overall market closer to a buyers’ market. With two more policy rate decisions scheduled for this year and indications of potential further reductions, it’s possible that demand could increase later this fall if buyers decide to re-enter the market.

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 discuss all the available options. 

Please contact us today at 604-442-9422

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022,  and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

August is usually a slower month for sales compared to June or July, and this year is no exception. Residential sales in the region reached 1,904 in August 2024, marking a 17.1% drop from the 2,296 sales recorded in August 2023. Despite this, sales remain in a holding pattern, hovering around 20% below the 10-year seasonal average. This trend indicates that buyers are still feeling the impact of higher borrowing costs, even after two recent quarter-point reductions to the policy rate earlier this summer. 

 Detached Home Sales- In August 2024, sales of detached homes totaled 509, reflecting a 13.9% decline from the 591 sales recorded in August 2023. The benchmark price for a detached home currently stands at $2,048,400. This reflects a 1.8% increase from August 2023 and no change (0%) compared to July 2024.

Apartment Home Sales- in August 2024 totaled 1,012, representing a 20.3% drop compared to the 1,270 sales in August 2023. The benchmark price for an apartment home is $768,200. This represents a 0.1% decrease from August 2023 and no change (0%) compared to July 2024.

Attached Home Sales- In August 2024, attached home sales amounted to 370, marking a 12.3% decrease from the 422 sales in August 2023. The benchmark price for a townhouse is $1,119,300. This reflects a 0.8% increase from August 2023 and a 0.5% decrease compared to July 2024.

With the Bank of Canada’s decision to cut the policy rate by another quarter percentage point, and September historically seeing a seasonal uptick in sales, the fall market is poised to attract more buyers off the sidelines. 

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 discuss all the available options. 

Please contact us today at 604-442-9422

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022,  and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

Newly listed properties on the MLS® increased nearly 20% year over year in July, maintaining a healthy inventory level in the Metro Vancouver housing market.

Despite a recent half-point decline in the policy rate and abundant inventory, it is surprising that transaction levels remain below historical norms.

Detached Home Sales- in July 2024, 688 homes were sold, a 1% increase from the 681 sales recorded in July 2023. The benchmark price for a detached home is $2,049,000.

Apartment Home Sales- in July 2024, 1,192 apartments were sold a 6.9% decrease from the 1,281 sales in July 2023. The benchmark price of an apartment home is $768,200.

Attached Home Sales- in July 2024, 437 attached homes were sold, marking a 6.2% decrease from the 466 sales recorded in July 2023. The benchmark price of a townhouse is $1,124,700.

With balanced market conditions and a healthy inventory level not seen in years, price trends across all segments have leveled out with very modest month-over-month declines. While it remains uncertain if softening prices and improved borrowing costs will attract buyers this fall, it often takes a few months for better borrowing conditions to boost transaction levels. We will monitor the market for signs of increased activity in the coming months.

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 discuss all the available options. 

Please contact us today at 604-442-9422

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022,  and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

Effective July 18, 2024, landlords will be required to provide tenants with 4 months' notice if they or a purchaser intend to move into the rental unit. Landlords will need to generate their notice to end tenancy for landlord or purchaser occupancy using a web portal on the RTB website.

Implications for the Real Estate Market:

1. The mandatory use of the web portal may streamline and standardize the process for ending tenancies, reducing errors and disputes.

2. Longer Notice Period: Extending the notice period to four months provides tenants with more time to find new housing, potentially reducing the immediate impact on their lives.

3. Planning for Landlords: Landlords will need to plan further in advance if they or a buyer intend to occupy a rental property, which could affect the timing of property sales and occupancy changes.

4. Market Stability: This change might create a more stable rental market by providing tenants with greater security and predictability, but it could also lead to longer vacancies if landlords or buyers need to wait to move in.

5. Impact on Sales: Buyers who intend to occupy a property may need to consider the extended notice period in their purchase decisions, potentially delaying transactions.

Overall, these changes aim to balance the interests of both landlords and tenants, fostering a fairer rental market environment.

Call today to discuss your options as a landlord/ buyer or renter:

604-442-9422- Anna Litvak Joseph 

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022,  and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

Metro Vancouver home sales registered on the MLS® stayed below seasonal and historical averages in June. With less competition among buyers, inventory has risen to levels not seen since spring 2019. The June data continues to show a trend where buyers are hesitant to transact at typical volumes for this time of year, while sellers remain eager to list their properties. This situation is driving inventory levels to a healthy range not seen since before the pandemic, giving buyers more options and leading all market segments toward balanced conditions.

Detached Home Sales- In June 2024, 694 detached homes were sold, marking an 18.2% decrease from the 848 detached sales in June 2023. The benchmark price for a detached home is $2,061,000.

Apartment Home Sales- In June 2024, 1,245 apartment homes were sold, representing a 20.9% decrease from the 1,573 sales in June 2023. The benchmark price for an apartment home is $773,400.

Attached Home Sales- In June 2024, 456 attached homes were sold, marking a 16.6% decrease from the 547 sales in June 2023. The benchmark price for a townhouse is $1,138,100.

Upcoming interest rate announcement from the Bank of Canada in July could lead to another policy rate cut this summer, further favoring buyers even if the increase in affordability is modest. However, The below-average transaction volumes in June suggest that many buyers remain cautious, causing inventory to build up and limiting upward price pressure across market segments. Nevertheless, the data shows that well-priced properties continue to sell quickly, highlighting that astute buyers can identify and capitalize on good opportunities.

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 discuss all the available options. 

Please contact us today at 604-442-9422

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022,  and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

Choosing a place to call home is a significant decision that requires careful consideration of various factors such as community, amenities, and real estate opportunities. Coquitlam, a vibrant city in British Columbia, offers an ideal blend of urban convenience and natural beauty, making it an attractive destination for homebuyers. 

This article will explore why Coquitlam is the perfect location for your next home and how the BC Prime Real Estate Group can assist you in this journey.

Why Choose Coquitlam?

1. A Thriving Community

Coquitlam boasts a diverse and welcoming community that is continually growing. The city offers a rich cultural tapestry with numerous events and festivals that unite residents. Whether looking for family-friendly activities or opportunities to engage with neighbors, Coquitlam has something for everyone. 

As you search for your dream home, having a Coquitlam realtor with free staging can make your transition into this vibrant community smoother.

2. Excellent Education and Healthcare

Education and healthcare are critical considerations for families. Coquitlam is home to top-notch schools and educational institutions, including the highly regarded Douglas College. The city’s commitment to education ensures that children and young adults access quality learning environments. 

3. Recreational Opportunities

Nature lovers will find Coquitlam’s numerous parks, trails, and recreational facilities irresistible. The city is surrounded by stunning natural landscapes, including the scenic Coquitlam River and the majestic Pinecone Burke Provincial Park. Residents can enjoy various outdoor activities such as hiking, biking, and fishing. 

4. Convenient Transportation

Coquitlam’s strategic location provides easy access to major transportation routes, making commuting to Vancouver and other nearby cities a breeze. The Evergreen Extension of the SkyTrain serves the city, which connects Coquitlam to the rest of Metro Vancouver. 

5. Diverse Housing Options

Coquitlam real estate offers various housing options to suit various preferences and budgets. Whether you are looking for a modern condo, a spacious townhouse, or a detached family home, Coquitlam has everything you need. 

The city’s real estate market is known for its stability and growth potential, making it a wise investment for homebuyers. Partnering with the best realtor team in Coquitlam, such as BC Prime Real Estate Group, can help you navigate this dynamic market and find the perfect property.

The Role Of BC Prime Real Estate Group

1. Expertise and Experience

BC Prime Real Estate Group is recognized as a top realtor team in BC. It is known for its expertise and dedication to client satisfaction. With years of experience in the Coquitlam real estate market, its agents possess in-depth knowledge of the local area and its unique characteristics. 

2. Personalized Service

Finding the right home involves more than just browsing listings. BC Prime Real Estate Group offers personalized service tailored to your specific needs and preferences. Their team takes the time to understand your lifestyle, budget, and long-term goals, guiding you toward properties that align with your vision. 

3. Comprehensive Support

From the initial consultation to closing the deal, BC Prime Real Estate Group provides comprehensive support at every step. Their services include market analysis, property staging, negotiation, and post-sale assistance. As a Coquitlam realtor with free staging, they help enhance the appeal of your property, ensuring that it stands out in the competitive market. 

4. Strong Network and Resources

A real estate transaction’s success often hinges on the strength of the realtor’s network. BC Prime Real Estate Group has established strong connections with local developers, lenders, and service providers. This extensive network allows them to offer their clients exclusive listings and favorable terms. 

Why Coquitlam Is Your Next Home Destination

Coquitlam’s unique blend of community spirit, excellent amenities, and diverse housing options make it an ideal location for your next home. Coquitlam has much to offer if you are a first-time homebuyer, a growing family, or someone looking to invest in real estate. 

Partnering with BC Prime Real Estate Group, the best realtor team in Coquitlam, will provide you with the expertise and support needed to navigate the real estate market successfully.

Ready to make Coquitlam your new home? Visit BC Prime Realty today to start your journey with the top realtor team in BC. With their personalized service and commitment to excellence, finding your dream home in Coquitlam has never been easier.

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022, and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Richmond, British Columbia, is a vibrant and diverse community that offers many real estate opportunities for homebuyers and investors. With its unique blend of urban amenities and suburban tranquility, Richmond has become a sought-after destination in the Lower Mainland. This article will explore what makes Richmond a great place to live, the current real estate market trends, and how the BC Prime Real Estate Group can help you find your dream home in this thriving city.

Why Richmond?

Richmond is a dynamic city with a rich cultural heritage, excellent schools, and a wide range of recreational activities. Its strategic location, just minutes away from downtown Vancouver and the Vancouver International Airport, makes it ideal for those who want easy access to the city's amenities while enjoying a more relaxed suburban lifestyle.

A Diverse and Welcoming Community

Richmond is known for its cultural diversity, with many residents from various ethnic backgrounds. This multiculturalism is reflected in the city's vibrant dining scene, bustling markets, and numerous cultural festivals. Living in Richmond means you can experience a world of flavors and traditions right at your doorstep.

Excellent Schools and Family-Friendly Neighborhoods

Richmond offers some of the best schools in the region for public and private families. The city's safe and family-friendly neighborhoods, such as Steveston, Broadmoor, and West Cambie, provide an ideal environment for raising children. Parks, playgrounds, and community centers are abundant, ensuring families have plenty of options for recreation and leisure.

A Hub for Recreation and Nature

Richmond is home to beautiful parks, scenic trails, and stunning waterfronts. The city's extensive dike system provides excellent walking, cycling, and bird-watching opportunities. The Richmond Olympic Oval, a legacy of the 2010 Winter Olympics, offers world-class facilities for sports and fitness. Whether you enjoy outdoor activities or prefer indoor sports, Richmond has something for everyone.

Richmond Real Estate Market

The Richmond real estate market is robust and diverse, offering a range of housing options to suit different needs and budgets. From luxurious waterfront homes to affordable condos, there is something for everyone in Richmond.

Current Market Trends

Richmond's real estate market has remained strong, with steady demand for residential and investment properties. The city's strategic location, excellent amenities, and quality of life continue to attract buyers from across the region and beyond. Richmond's top realtors are seeing increased interest in properties that offer convenience and a high standard of living.

Investing in Richmond Real Estate

Given the city's ongoing development and growth, investing in Richmond real estate can be a smart move. Areas like Bridgeport and Lansdowne are experiencing significant redevelopment, offering potential for property value appreciation. Richmond's thriving commercial sector also provides opportunities for those interested in commercial real estate investments.

Why Choose BC Prime Real Estate Group?

Having the right realtor is crucial when navigating the Richmond real estate market. The BC Prime Real Estate Group stands out as the top realtor team in BC, offering unparalleled expertise and personalized service.

Richmond Realtor with Free Staging

One unique service BC Prime Real Estate Group provides is free staging for your home. This can significantly enhance the appeal of your property, making it more attractive to potential buyers. Staged homes often sell faster and at higher prices, giving you a competitive edge in the market.

A Team You Can Trust

The BC Prime Real Estate Group is known for its dedication to client satisfaction. Their team of experienced realtors understands the local market intricately and is committed to helping you find the perfect home or investment property. Whether you are a first-time homebuyer or a seasoned investor, you can rely on their expertise and guidance.

Your Dream Home Awaits In Richmond

Richmond offers a unique blend of urban convenience and suburban charm, making it an ideal place to live and invest. With its diverse community, excellent amenities, and strong real estate market, Richmond has something to offer for everyone. 

When you're ready to explore real estate opportunities in this vibrant community, the BC Prime Real Estate Group is here to help. Visit BC Prime Realty to start your journey toward finding your dream home in Richmond.

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022, and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

In May, the number of transactions on the Multiple Listing Service® (MLS®) in Metro Vancouver decreased compared to the usual levels for this time of year. This decline has led to an accumulation of homes for sale, with over 13,000 properties now actively listed on the MLS® in the region

Detached Home Sales- In May 2024, sales of detached homes reached 846, an 18.9% decrease from the 1,043 detached sales recorded in May 2023. The benchmark price for a detached home is now $2,062,600, representing a 5.9% increase from May 2023 and a 1.3% increase compared to April 2024.

Apartment Home Sales- In May 2024, sales of apartment homes reached 1,338, marking a 22.7% decrease compared to the 1,730 sales in May 2023. The benchmark price for an apartment home is $776,200, which represents a 2.2% increase from May 2023 and a 0.3% decrease compared to April 2024.

Attached Home Sales- In May 2024, attached home sales totaled 523, a 14% decrease compared to the 608 sales in May 2023. The benchmark price for a townhouse is $1,145,600, which represents a 5.2% increase from May 2023 and a 0.9% increase compared to April 2024.

Market trends now shifting toward more balanced conditions as new listings outpace sales, the price growth expected to be slower in the coming months. With increasing inventory levels and weakening demand, buyers who have been waiting for an opportunity might find more favorable conditions this summer, even if borrowing costs remain high.

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 discuss all the available options. 

Please contact us today at 604-442-9422

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022,  and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

West Coquitlam has evolved into a united community, solidifying its position as one of Greater Vancouver's top neighborhoods. This contemporary area offers a plethora of modern amenities, dining choices, and more.

This exciting skyline boasts 45 soaring stories and located at the heart of West Coquitlam.

Take advantage of a special offer:

Secure your residence today with a 5% down payment now and another 5% in 6 months. Plus, enjoy a discount on the purchase price of any home for a limited time

Nestled at the base of Burnaby Mountain, this project provides access to the quintessential British Columbia lifestyle right on your doorstep. Enjoy breathtaking natural surroundings, active living, and urban conveniences, all within a 15-minute radius from this new development:

• Explore hiking, walking, and cycling trails at Burnaby Mountain.

• Experience the state-of-the-art Bettie Allard YMCA.

• Enjoy recreation at Cameron Park & Recreation Complex.

• Access resources at Burnaby Library (Cameron Branch).

• Relax at Cottonwood Park.

• Conveniently shop at Northgate Mall for your daily needs.

Please contact us today at 604-442-9422

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022, and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

In April, the number of homes actively listed for sale on the MLS® in Metro Vancouver surged by 42% compared to the previous year, surpassing the 12,000 mark. This level of inventory hasn't been observed in the region since the summer of 2020.

Detached Home Sales- In April 2024, sales of detached homes reached 814, marking a 0.7% increase from the 808 detached sales recorded in April 2023. The benchmark price for a detached home is $2,040,000.

Apartment Home Sales- In April 2024, sales of apartment homes reached 1,416, showing a marginal 0.2% increase compared to the 1,413 sales in April 2023. The benchmark price of an apartment home is $776,500.

Attached Home Sales: In April 2024, attached home sales totaled 580, reflecting a notable 16% increase compared to the 500 sales in April 2023. The benchmark price of a townhouse is $1,127,200.

Despite expectations of a rapid increase following the Bank of Canada's aggressive rate hikes, inventory has steadily climbed in recent data. The surprise for many has been the ongoing demand strength and the limited number of homeowners forced to sell despite the highest borrowing costs in over a decade.

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 discuss all the available options. 

Please contact us today at 604-442-9422

ABOUT ANNA LITVAK JOSEPH

Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.

With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a  Medallion Club Member in 2018, 2019, 2020, 2021, 2022, and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.

Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.  

About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.

Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.

BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.

BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers. 

MEET TEAM MEMBERS

Listings  | Selling a Home  | Home Evaluation  | Moving to BC  | Investors 

Market Statistics  | Customized Market Insights 

The number of homes listed for sale on the MLS® in Metro Vancouver surged by almost 23% compared to the previous year, presenting increased opportunities for buyers in search of a new home this spring.

Detached Home Sales- In March 2024, sales of detached homes totaled 694, marking a 5.4% decline from the 734 detached sales recorded in March 2023. Concurrently, the benchmark price for a detached home stood at $2,007,900, reflecting a notable 7.4% upturn from March 2023 and a modest 1.8% increase compared to February 2024.

Apartment Home Sales- In March 2024, sales of apartment homes totaled 1,207, indicating a 7.9% decrease compared to the 1,311 sales recorded in March 2023. Meanwhile, the benchmark price of an apartment home stood at $777,500, reflecting a 5.7% increase from March 2023 and a marginal 0.9% rise compared to February 2024.

Attached Home Sales- In March 2024, sales of attached homes reached 495, marking a notable 6.2% increase compared to the 466 sales recorded in March 2023. Additionally, the benchmark price of a townhouse stood at $1,112,800, indicating a 5% escalation from March 2023 and a 1.7% increase compared to February 2024.

Even with the market showing signs of cooling compared to previous years, there are still modest month-over-month price gains ranging from one to two percent at the aggregate level. This trend is notable considering the persistently high borrowing costs. Despite expectations of one or two modest cuts to the Bank of Canada's policy rate in 2024, as indicated by the favorable direction of recent inflation numbers, these adjustments may not necessarily translate into significant improvements in affordability. Consequently, constrained borrowing power is anticipated to continue posing challenges as we transition into the summer months.

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

ABOUT ANNA LITVAK JOSEPH