Bridget Ross : Blog : Latest Blog Posts

Spring Cleaning Your Strategy: Seller Preparation & Buyer Readiness

Mon, 02 Mar 2026 21:41:07 GMT

Spring brings more listings, more showings, and more opinions.
The best results happen before the rush.

Think of this as spring cleaning for your real estate plan: remove friction, simplify decisions, and make it easy for the right buyer — or the right home — to find you.

This isn’t about perfection. It’s about signal.

For Sellers: Focus on What Moves the Needle

Edit, don’t just tidy. Remove about a third of what’s visible. Buyers read space instantly.
Clean for light. Wash windows, swap dim bulbs, clear surfaces. Bright homes feel better — and photograph better.
Fix the small stuff. Loose handles, drips, scuffs, tired caulking. Minor flaws create major doubt.
Strengthen the entry. Clean, well-lit, simple. First impressions anchor everything.
Create a “Trust Pack.” One-page summary of upgrades, maintenance, utilities — and for condos, key strata highlights. Clarity builds confidence.

Prepared sellers attract stronger, cleaner offers.

For Buyers: Get Ready Without Rushing

Tighten your search. Define location, budget band, property type, and top three must-haves.
Line up logistics early. Financing refreshed. Deposit plan clear. Notary or lawyer identified.
Walk neighbourhoods at real-life times. Morning, after school, early evening. Trust your instincts.
Use a simple scorecard. Layout. Light. Noise. Storage. Condition. Everyday access.
Move decisively when it fits. Preparation beats waiting for perfect.

Prepared buyers avoid emotional decisions.

Spring rewards clarity.
Do the quiet work now — the results tend to follow.

Strata or Single-Family in Vancouver? Let’s Talk About What Actually Makes Sense in 2026

Fri, 13 Feb 2026 18:09:39 GMT

One of the first questions people ask me is: “Should we buy a condo, or should we try for a house?”

In Vancouver, that sounds like a simple choice — but most of the time, it isn’t. Price, neighbourhood, and comfort level usually narrow things down before preference even enters the conversation.

So instead of asking “Which one is better?” the better question is:
“What are the real trade-offs — and which one fits our life right now?”

First, Let’s Be Honest About Vancouver

In this city, strata properties (condos and townhomes) are often the entry point. Detached homes come with a very different price tag — especially on the West Side or in established East Vancouver neighbourhoods.

That doesn’t mean one is better. It just means the decision has to be practical.

For some buyers, stretching into a detached home makes sense. For others, buying a well-run condo in a great location builds stronger long-term stability. Context matters.

Why Many Buyers Choose Strata

Strata living appeals to people who value convenience.

In neighbourhoods like Yaletown, Mount Pleasant, Brentwood, or Metrotown, you can walk to groceries, transit, cafés, and parks. Maintenance is shared. Roofs, landscaping, and exterior repairs aren’t your weekend responsibility.

For busy professionals, frequent travellers, or downsizers, that “lock-and-leave” lifestyle is a big advantage.

But there are trade-offs:

Monthly strata fees
Bylaws and shared decision-making
The need to review documents carefully

In Vancouver especially, the quality of strata management makes a huge difference. A well-run building feels predictable. A poorly managed one feels stressful.

Why Buyers Stretch for Detached

Detached homes offer autonomy.

You can renovate without asking for approval. You have private outdoor space. There’s often room for a home office, guests, or even a suite for rental or family.

In a supply-constrained city like Vancouver, land ownership also carries long-term appeal.

But the trade-off is responsibility. Roofs, plumbing, drainage, landscaping — it’s all yours. Costs are less predictable, and maintenance takes time.

For some people, that control feels empowering. For others, it feels overwhelming.

What I’m Seeing in 2026

This year, buyers are less emotional and more strategic.

Hybrid work still matters. People want:

Quiet workspaces
Flexible layouts
Homes that can adapt over time

Multi-generational living is also more common. Whether it’s parents, adult kids, or shared ownership planning, flexibility is becoming more valuable than raw square footage.

The biggest shift?
People are thinking 5–10 years ahead instead of just asking, “Can we get in?”

So… Which One Is Right?

There isn’t a universal answer.

The right decision depends on:

Your comfort with monthly carrying costs
How much time you want to spend on maintenance
Whether flexibility or convenience matters more
Your 5-year and 10-year plan

A condo in the right building can be a fantastic long-term decision.
A detached home can be the right move — if it aligns with your financial and lifestyle capacity.

The key is clarity before commitment.

Let’s Build a Plan Around You

If you’re debating strata versus single-family in Vancouver, I’d encourage you not to make the decision in isolation.

Every situation is different — income structure, long-term goals, neighbourhood priorities, family plans, risk tolerance.

If you’d like, we can map out a personalized comparison:

What each option would realistically cost you to carry
What’s currently available in your target neighbourhoods
How each path supports (or limits) your longer-term plans

No pressure — just clarity.

If that would be helpful, reach out and let’s put together a strategy that actually fits your life, not just the market headlines.

Metro Vancouver Real Estate Market Update – January 2026

Fri, 13 Feb 2026 17:58:09 GMT

Metro Vancouver January Market Highlights

January in Metro Vancouver marks the beginning of a new real estate year, shaped by winter routines and a more deliberate pace across the market. Shorter days, cooler temperatures, and a post-holiday reset naturally temper activity, as households take time to assess priorities and plan for the months ahead. While transactions typically start the year at a slower rhythm, January plays an important role in setting expectations, establishing pricing benchmarks, and laying the groundwork for spring momentum. Last year’s market trends continued in January as home sales registered on the MLS® in Metro Vancouver* were 28.5 per cent lower than last year, setting the year off to a quieter start.

“On their own, the January sales appear alarming, but it’s important to put these figures in the context of the past few years. Last year ended with one of the lowest sales totals in over two decades, and so it’s not surprising that the January sales figures were fourth slowest in over two decades as well. Market momentum is a slowly evolving force, and in many ways, the January figures represent a market that continues slowly evolving to what may be a new normal,” said Andrew Lis, Greater Vancouver REALTORS’ director of economics and data analytics.

Residential Sales

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,107 in January 2026, a 28.7 per cent decrease from the 1,552 sales recorded in January 2025. This was 30.9 per cent below the 10-year seasonal average (1,602).

Inventory + Home Price Data Analysis

There were 5,157 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2026. This represents a 7.3 per cent decrease compared to the 5,566 properties listed in January 2025. This was 19.4 per cent above the 10-year seasonal average (4,318).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2026 is 9.1 per cent. By property type, the ratio is 6.7 per cent for detached homes, 11.1 per cent for attached, and 10.3 per cent for apartments.

Analysis of the historical data suggests 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.

Detached Homes

Sales of detached homes in January 2026 reached 300, a 21.1 per cent decrease from the 380 detached sales recorded in January 2025. The benchmark price for a detached home is $1,850,800. This represents a 7.3 per cent decrease from January 2025 and a 1.5 per cent decrease compared to December 2025.

Apartments

Sales of apartment homes reached 554 in January 2026, a 34.5 per cent decrease compared to the 846 sales in January 2025. The benchmark price of an apartment home is $704,600. This represents a 5.9 per cent decrease from January 2025 and a 0.8 per cent decrease compared to December 2025.

Attached Homes

Attached home sales in January 2026 totalled 246, a 23.4 per cent decrease compared to the 321 sales in January 2025. The benchmark price of a townhouse is $1,043,400. This represents a 5.4 per cent decrease from January 2025 and a 1.2 per cent decrease compared to December 2025.

The Stilhavn Report

Whether you are looking to buy or sell a home or investment property in the coming months, or just curious about what’s happening in your neighbourhood, The Stilhavn Report has you covered. Providing in-depth market information and monthly summaries of what’s happening in Metro Vancouver and the Okanagan, these monthly reports are the perfect starting point for first time buyers and market savvy investors alike.

Metro Vancouver December Market Highlights

Thu, 22 Jan 2026 23:23:37 GMT

December in Metro Vancouver brings the real estate year to a close under the familiar rhythms of winter. Shorter days, colder weather, and the holiday season naturally slow market activity, as many households pause to reflect and plan ahead. While the pace of transactions eases, the market continues to offer clarity for those assessing opportunities and positioning for the new year. Current market conditions are giving buyers and sellers space to pause, assess, and prepare as 2026 approaches.

Home sales registered on the Multiple Listing Service® (MLS®) throughout 2025 in Metro Vancouver* closed the year down 10 per cent, marking the lowest annual sales total in more than two decades. “This year was one for the history books. Although the sales total was the lowest in over two decades, Realtors were still busy listing properties. Sellers brought the highest total of listings to market on record since the mid-1990s, eclipsing the previous record high in 2008 by a little over 1,000 listings,” said Andrew Lis, Greater Vancouver REALTORS’ director of economics and data analytics.

Residential Sales

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,537 in December 2025, a 12.9 per cent decrease from the 1,765 sales recorded in December 2024. This was 20.7 per cent below the 10-year seasonal average (1,937).

Inventory + Home Price Data Analysis

There were 1,849 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2025. This represents a 10.3 per cent increase compared to the 1,676 properties listed in December 2024. This was 10.3 per cent above the 10-year seasonal average (1,677).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for December 2025 is 12.7 per cent. By property type, the ratio is 9.3 per cent for detached homes, 14.6 per cent for attached, and 15.1 per cent for apartments.

Detached Homes

Sales of detached homes in December 2025 reached 431, a 12.8 per cent decrease from the 494 detached sales recorded in December 2024. The benchmark price for a detached home is $1,879,800. This represents a 5.3 per cent decrease from December 2024 and a 1.1 per cent decrease compared to November 2025.

Apartments

Sales of apartment homes reached 791 in December 2025, a 11.2 per cent decrease compared to the 891 sales in December 2024. The benchmark price of an apartment home is $710,000. This represents a 5.3 per cent decrease from December 2024 and a 0.6 per cent decrease compared to November 2025.

Attached Homes

Attached home sales in December 2025 totalled 303, an 18.3 per cent decrease compared to the 371 sales in December 2024. The benchmark price of a townhouse is $1,056,600. This represents a five per cent decrease from December 2024 and a 0.8 per cent decrease compared to November 2025.

Year-End Market Wrap: December Signals & Your First-Week-of-January Game Plan

Mon, 01 Dec 2025 23:59:28 GMT

When it comes to real estate sales in BC, the month of December is typically quieter—but not idle. Across the province, many sellers are choosing to wait until January to hit the market, and many buyers are pausing active searches until after the holidays. For savvy buyers and sellers, that slower pace doesn’t mean “do nothing”; it means you have room to prepare properly. This month is an opportunity to get the unglamorous (but crucial) work done so that when the first week of January arrives, you’re not starting from scratch—you’re ready to move.

Below is a plain language look at how to use December well, with regional highlights for Metro Vancouver, the Okanagan, Sea to Sky (Whistler/Pemberton), and the Sunshine Coast.

What December usually looks like in BC

Across most markets, December typically brings:
• Fewer new listings, as sellers wait for January visibility.
• More focused buyers, as only serious house-hunters stay active over the holidays.
• More flexible schedules for the professionals you rely on—photographers, stagers, inspectors, and lawyers—especially outside peak holiday days.
That combination creates a window to plan, prep, and position—so your listing or your next offer is sharper when the calendar flips.

Regional snapshots: planning from now to early January

Metro Vancouver
December is a good time to get specific about where you want to be in January.

Sellers: Work with your agent to tighten your pricing band using true comparables in your building, block, or school catchment. Decide on a clear January launch week and line up photography, copy, and your “Trust Pack” (features, maintenance, strata highlights).
Buyers: Narrow your focus to 2–3 neighbourhoods or buildings where you’d move quickly. Use December to walk those areas, test commute routes, and review recent sales so January listings feel familiar, not surprising.

In short, wet afternoons and early evenings reward homes that show bright and organized.

Okanagan
In the Okanagan, December is ideal for deciding what kind of Okanagan life you’re aiming for in the new year.

Sellers: Clarify how your home fits—year-round in-town living vs more recreational or view-focused. Shape your January marketing around that use case so buyers immediately understand the lifestyle you’re offering.
Buyers: Use the slower month to compare in-town convenience (shops, clinics, schools) with more rural or view properties. Decide where you’re willing to trade drive time for space or scenery before you start booking January tours.

Sea to Sky (Squamish, Whistler, Pemberton)
Here, winter itself is a planning tool—you get to see properties and locations in their busiest, most demanding season.

Sellers: Document how your home works in winter: where gear goes, how parking and access function, and what your typical routines look like on busy weekends. This becomes part of your January story for buyers.
Buyers: Pay attention to how easy it is to get to and from your target areas, where you’ll store skis/boards, and whether you’re truly looking for a full-time home, a weekend base, or a mix. Use December to answer those questions so you’re decisive when the right listing appears.

Sunshine Coast
On the Coast, December is about being realistic about rhythm—ferries, weather, and services.

Sellers: Work with your agent to map out a January showing plan that aligns with typical sailing times and daylight, so buyers can actually get there and see the best version of your home.
Buyers: Use December to test how often you’ll be travelling to and from the Coast, and which villages or pockets best match your day-to-day needs. That clarity will guide which January listings you take seriously.

For sellers: December prep, January launch

If you’re aiming to list in early January, think of December as your set-up month:

Dial in presentation
Light repairs, fresh paint in key areas, updated lighting, and a clutter edit usually do more for value than bigger last-minute projects.
Get your paperwork in order
Collect warranties, service records, recent utility summaries, and (for strata) minutes and key forms. Turning this into a simple package makes it easier for buyers to act quickly when you launch.
Plan the timing
Work backward from your ideal first week of January: photography, copy, staging tweaks, and sign installation all take time. A loose calendar now avoids a scramble later.
Agree on your strategy
Use December to align with your agent on pricing bands, showing blocks, and communication expectations so everyone is on the same page before you go live.
For buyers: using a quieter month to get ahead
Even if you don’t plan to write an offer in December, you can set yourself up to move faster and more confidently in January:
- Clarify your non-negotiables
  Decide on max budget, preferred property type, and a short list of regions (or neighbourhoods) so your search is focused from day one.
- Get the logistics sorted
  Refresh financing discussions, know your deposit plan, and identify your preferred notary or lawyer. When the right home appears, you won’t be slowed by admin.
- Study, don’t scroll
  Instead of casually browsing, review recent sales in your target areas, pay attention to days on market and property condition, and get comfortable with what “fair” looks like at current levels.
- Walk the neighbourhoods
  If weather allows, experience your target areas at different times of day. Commute routes, lighting, noise, and access feel different in winter—better to learn that now than after you move.
Outlook: December calm, January momentum
December is unlikely to bring a surge of activity—but it can create clearer lanes for planning. Buyers and sellers who use this time to prep rather than pause tend to move more smoothly, and with more confidence, once January begins.
We’ve outlined practical steps and regional considerations to help you use the quieter month well. Apply the pieces that fit your situation and region—Metro Vancouver, the Okanagan, Sea to Sky, or the Sunshine Coast—and you’ll be ready to step into the new year with a plan instead of a scramble.
Looking to make a move in the new year? GIVE ME A CALL today to make sure you’re well prepared to hit the ground running!

Presenting Homes When Light Is Limited

Wed, 05 Nov 2025 17:51:08 GMT

As daylight shortens and the weather turns cold, presentation and access matter more than ever. From November through the winter season, successful listings across B.C. aren’t just tidy—they’re easy to tour, easy to understand, and easy to say yes to. Below is Stilhavn’s plain-language guide to showing (and shopping) well in shorter, darker, and snowier days.

Regional snapshots: (seller-controlled checklists)

Metro Vancouver:

In short, wet afternoons and early evenings reward homes that show bright and organized.

What you can control:

Light plan: replace dim bulbs, add warm task lamps, and set timers 30–60 minutes before showings.
Welcoming entry: dry mats, boot tray, small bench/hooks (temporary adhesive works), and umbrella stand.
Clear sightlines: edit surfaces; stack/store excess items to open up hallways and counters.
Photo timing: photograph key rooms at the brightest time of the day; open blinds and angle mirrors to bounce light.
Weekday access: offer reliable mid-week showing blocks (plus one early-evening slot) to fit commuter schedules.
Okanagan:
Crisp mornings and freeze–thaw cycles put emphasis on warmth and visibility.
What you can control:
- Warm welcome: run heat a touch higher pre-showing; set fireplace (gas/electric) to low, safe glow.
- Crystal-clear glass: clean exterior/interior windows and patio doors; lift blinds for natural light.
- Path safety: shovel/brush steps and walkways; lay down ice-melt and a second entry mat inside.
- Exterior touch-ups: clear gutters at eaves, trim back branches that block light to main rooms.
- Show-ready garage: tidy zones for car + gear; label shelves/bins so storage reads intentional.
Sea to Sky: (Squamish & Whistler)
Snow and gear are a given—make logistics feel easy.
What you can control:
- Gear-smart entry: add a durable mat, boot dryer or tray, and if needed, a simple rack for boards/skis.
- Heat confidence: service furnace/boiler, replace filters, and set programmable thermostats to a steady, comfortable temp.
- Snow plan on display: place a small bin of ice-melt and a shovel visibly near the door; clear paths before every tour.
- Sunshine Coast:
  Coastal rain and ferry timing reward clear approach and flexible access.
  What you can control:
  - Wayfinding & approach: brighten house numbers, add pathway lights, and sweep/dry the entry.
  - Inside first impression: create a tidy drop zone (bench/hooks/mat) and a well-ventilated main floor.
  - Weather buffer: keep extra towels and a spare umbrella by the door; protect floors with a runner during tours.
  - Ferry-aware showings: offer defined windows that align with common sailing times to reduce no-shows.
  - Strata touch: if applicable, tidy balcony/patio and note quiet hours/elevator booking on a simple one-pager for visitors.
  What it means for buyers
  - Shop the calendar, not just the listing. Shorter days reward organized tours. Aim for lunch-hour or early-evening windows and bring a simple checklist (light, noise, warmth, storage, access).
  - Test door-to-desk at real times. Evening commutes and winter conditions can change the math; do a live run if the route is mission critical.
  - Prioritize “ready now.” If your schedule is tight, choose layouts and buildings that work on Day 1. Projects can wait for longer spring light.
  - Outlook: a tailwind, not a whirlwind
    Shorter days don’t slow motivated buyers; they clarify what wins—accurate pricing, bright presentation, and low-friction access. Through late fall and winter, momentum should favour well-located, turnkey properties and buyers who are organized, selective, and ready to act when the fit is right.
    Stilhavn’s Take
    We’ve pulled together a range of tools, resources, and practical tips—from photo timing and lighting plans to weekday access strategies and winter-readiness checklists. Choose what fits your home and region (Metro Vancouver, the Okanagan, Sea to Sky, or the Sunshine Coast), and you’ll make your property easier to tour, easier to appreciate, and easier to say yes to as the days grow shorter.

Interest Rate Eases: Market Implications

Thu, 09 Oct 2025 19:22:05 GMT

The Bank of Canada lowered its policy rate by 25 bps to 2.50% on Wednesday, September 17, 2025—a modest but meaningful tailwind for fall planning. Here’s what that change means for buyers and sellers in across BC, without the hype.

Translation: relief, in practical terms

If you hold a variable-rate mortgage, a quarter-point move typically works out to about $15 less per month for every $100,000 you owe. Not life-changing on its own, but meaningful across a full mortgage—and after two tight years, it’s a welcome change. Fixed-rate shoppers won’t move in perfect lockstep, but the cut helps keep renewal offers and new fixed terms on friendlier footing.

Why the Bank moved:

After two years of steady tightening and a cautious pause, the Bank moved because several indicators turned decisively cooler:

Jobs cooled. August’s Labour Force Survey showed –66,000 positions and the unemployment rate at 7.1%, indicating softer labour demand.

Growth slipped. Q2 GDP contracted at –1.6% (annualized), with exports and investment weakening.
Inflation stayed within the 1–3% target band, with core measures easing enough to give the Bank room to act.

Could the Bank have waited? Yes. But this cut offers households breathing room—a hint of momentum for fall planning while keeping inflation risks in check.

What it means for you:

Variable-rate holders

You’ll feel the change immediately in your payment. Consider re-running your budget, and if you’ve been postponing a renewal decision, ask your lender to show you how today’s rate affects your total cost picture.

Fixed-rate borrowers

Bond yields have been drifting lower; the cut helps stabilize renewal quotes and new fixed options. Get refreshed scenarios (2–3 terms side-by-side) and match them to your time horizon.

Where this shows up across BC (kept broad by design)

Metro Vancouver: Expect more mortgage conversations and modestly higher weekday traffic for well-located condos/townhomes; detached stays selective, with layout, commute reliability and school access still deciding outcomes. (For ongoing context, watch Greater Vancouver REALTORS® monthly updates.)
Okanagan: Slightly lower carrying costs nudge attention toward turnkey, in-core listings near everyday amenities, clinics and campuses.
Sea to Sky (Squamish & Whistler): A practical pre-winter window—move-in-ready attached homes with gear storage, tuned heating and straightforward access earn confidence.
Sunshine Coast: Hybrid workers may revisit “coast + commute” plans as lenders refresh fall promos; smooth closings still hinge on ferry-aware inspection and possession timing.

Outlook: a tailwind, not a whirlwind

The September cut should be viewed as a confidence nudge. Momentum this fall is likely to favour accurately priced, well-presented homes in amenity-rich areas and buyers who are organized, selective, and ready to act when the fit is right. Keep one eye on the October 29 policy meeting and the monthly labour/inflation prints that will shape the Bank’s next steps.

Stilhavn’s Take

We’ll map lenders, timelines, and target buildings so you can capitalize on the post-cut window—without chasing headlines. For a neighbourhood-specific plan anywhere in BC—Greater Vancouver, the Okanagan, Sea to Sky, or the Sunshine Coast—reach out to a Stilhavn agent and we’ll tailor clear next steps for your fall move.

September Market Kickoff

Fri, 26 Sep 2025 22:26:25 GMT

As school routines return and summer travel winds down, September reliably resets housing activity across British Columbia. Market trends typically reflect a seasonal “pause and recalibrate” effect. It’s not usually a frenzy—but it is a month when focused buyers re-enter the market, well-priced listings stand out, and weekday showings pick up as families get back on schedule. Below is Stilhavn’s plain-language read on what this seasonal shift means, with regional snapshots and practical steps for households planning a fall move.

Regional Snapshots

(what we’re seeing and why it matters)

Metro Vancouver

Across Metro Vancouver, condo and townhome offerings typically see the most September foot traffic, while detached demand is more selective. Weekday showings tend to rise once classrooms are back and schedules normalize; recent September market reports capture that “steady, not surging” tone. For families, this favours well-priced, turnkey listings near schools and parks.

Okanagan

In the Okanagan, after a summer of dispersed showings, attention refocuses on in-town listings close to amenities, health care and campuses. Inventory typically increases, resulting in more options for buyers and opportunity for savvy sellers ready to adapt.

Sea to Sky (Squamish & Whistler)

Along the Sea to Sky corridor, fall is a classic shoulder season—quieter villages, easier reservations, and a practical window for move-in-ready attached product before winter. Tourism Whistler’s fall pages reflect that lower-key tempo and event calendar, which often translates into more flexible viewing windows.

Sunshine Coast

September typically brings “ferry-savvy” searches back online as commuters and hybrid workers resume routines. Keeping an eye on ferry schedules is part of the planning puzzle, from possession day logistics to weekday showings. Local stats pages and monthly roundups can help benchmark pricing and absorption through fall.

How Sellers Can Win September

Price with precision. An experienced agent will use board-level trend charts (sales-to-active listings, days on market) to set defensible list prices; buyers are data-driven in fall.
Lean into weekday access. Once schools resume, demand often clusters mid-week; make your home available for quick, clean showings.
Stage for “first-week back.” Fresh exterior photos, tidy mudrooms, and organized storage signal turnkey living when routines are busiest.
What It Means For Buyers
- Focus on fit, not FOMO. September typically rewards clarity on location, layout, and budget. An experienced agent will use provincial dashboards and local board reports to help you calibrate offers, especially in balanced segments.
- Use shoulder season to your advantage. Through the Sea to Sky, fall’s calmer pace can make due diligence (strata docs, depreciation reports, storage needs) more straightforward before winter. Tourism Whistler
- For Coast moves, time the offer to the ferry. Inspectors, appraisers and movers are easier to schedule when you build around sailing frequency. BC Ferries

Metro Vancouver Real Estate Market Update – August 2025

Tue, 16 Sep 2025 17:36:29 GMT

August Market Highlights

In August, the pace of life in Metro Vancouver is typically unhurried, a time when households lean into simple pleasures, catch their breath, and savour the final weeks of summer together. This past month, moderating prices prompted renewed buyer activity within the real estate market, with sales showing modest gains over last year. Inventory remains balanced, and well-priced listings continue to stand out as households weigh moves ahead of the September return to routines. The positive trends first noted earlier in the summer have not only persisted but gathered strength, carrying momentum forward as the season concludes and the market prepares for its fall reset.

Easing prices brought more Metro Vancouver homebuyers off the sidelines in August, with home sales on the MLS® up nearly three per cent from August last year.

“The August sales figures add further confirmation that sales activity across Metro Vancouver appears to be recovering, albeit somewhat slowly, from the challenging first half of the year. Sales in the detached and attached segments are up over ten per cent from last August, which suggests buyers shopping in more expensive price points are re-entering the market in a meaningful way,” said Andrew Lis, Greater Vancouver REALTORS’ director of economics and data analytics.

Residential Sales

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,959 in August 2025, a 2.9 per cent increase from the 1,904 sales recorded in August 2024. This was 19.2 per cent below the 10-year seasonal average (2,424).

Inventory + Home Price Data Analysis

There were 4,225 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2025. This represents a 2.8 per cent increase compared to the 4,109 properties listed in August 2024. This was 1.3 per cent above the 10-year seasonal average (4,172).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,242, a 17.6 per cent increase compared to August 2024 (13,812). This is 36.9 per cent above the 10-year seasonal average (11,862).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for August 2025 is 12.4 per cent. By property type, the ratio is 9.3 per cent for detached homes, 15.8 per cent for attached, and 14 per cent for apartments.

Detached Homes

Sales of detached homes in August 2025 reached 575, a 13 per cent increase from the 509 detached sales recorded in August 2024. The benchmark price for a detached home is $1,950,300. This represents a 4.8 per cent decrease from August 2024 and a 1.2 per cent decrease compared to July 2025.

Apartments

Sales of apartment homes reached 956 in August 2025, a 5.5 per cent decrease compared to the 1,012 sales in August 2024. The benchmark price of an apartment home is $734,400. This represents a 4.4 per cent decrease from August 2024 and a 1.3 per cent decrease compared to July 2025

Attached Homes

Attached home sales in August 2025 totalled 409, a 10.5 per cent increase compared to the 370 sales in August 2024. The benchmark price of a townhouse is $1,079,600. This represents a 3.5 per cent decrease from August 2024 and a 1.8 per cent decrease compared to July 2025.

Metro Vancouver Real Estate Market Update – July 2025

Tue, 12 Aug 2025 18:47:54 GMT

July Market Highlights

July in Metro Vancouver arrives at the height of the summer season, reflecting the balance of peak summer living and measured market activity. Long daylight hours, warm temperatures, and active community gatherings set the backdrop, while the real estate market holds steady. Healthy inventory levels, improving buyer confidence, and emerging pricing stability point to continued resilience. While many step back for seasonal routines, opportunities remain for those engaged in the market—where well-timed decisions can create an advantage ahead of the fall. The encouraging shifts first noted in June have not only persisted but strengthened, carrying forward the momentum as the summer season reaches its midpoint.

Now past the midpoint of the year, home sales registered on the MLS® across Metro Vancouver* in July extended the early signs of recovery that emerged in June, now down just two per cent from July of last year – signaling a market steadily regaining its footing.

“The June data showed early signs of sales activity in the region turning a corner, and these latest figures for July are confirming this emerging trend. Although the Bank of Canada held the policy rate steady in July, this decision could help bolster sales activity by providing more certainty surrounding borrowing costs at a time where economic uncertainty lingers due to ongoing trade negotiations with the USA,” said Andrew Lis, Greater Vancouver REALTORS’ director of economics and data analytics.

Residential Sales

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,286 in July 2025, a two per cent decrease from the 2,333 sales recorded in July 2024. This was 13.9 per cent below the 10-year seasonal average (2,656).

Inventory + Home Price Data Analysis

There were 5,642 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2025. This represents a 0.8 per cent increase compared to the 5,597 properties listed in July 2024. This was 12.4 per cent above the 10-year seasonal average (5,018).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,168, a 19.8 per cent increase compared to July 2024 (14,326). This is 40.2 per cent above the 10-year seasonal average (12,249).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for July 2025 is 13.8 per cent. By property type, the ratio is 10.2 per cent for detached homes, 16.7 per cent for attached, and 15.9 per cent for apartments.

Detached Homes

Sales of detached homes in July 2025 reached 660, a 4.1 per cent decrease from the 688 detached sales recorded in July 2024. The benchmark price for a detached home is $1,974,400. This represents a 3.6 per cent decrease from July 2024 and a 1 per cent decrease compared to June 2025.

Apartments

Sales of apartment homes reached 1,158 in July 2025, a 2.9 per cent decrease compared to the 1,192 sales in July 2024. The benchmark price of an apartment home is $743,700. This represents a 3.2 per cent decrease from July 2024 and a 0.6 per cent decrease compared to June 2025.

Metro Vancouver Home Sales by Property Type

Detached Homes

Apartments

The Rise of Car Free Living in BC’s Walkable Neighbourhoods

Tue, 05 Aug 2025 21:40:05 GMT

Freedom to Live Your Way

BC’s diverse regions each offer walkable, car light living tailored to local contexts. In Metro Vancouver, over 50% of daily trips are now by walking, cycling, or transit, with SkyTrain, SeaBus, and an extensive bus network linking 21 municipalities and major destinations like UBC, downtown, and the Broadway corridor. In the Okanagan Valley, Kelowna’s downtown core, Vernon, and Penticton feature compact, mixed-use town centres connected by BC Transit’s Valley Connector rapid buses, park and ride hubs, and growing bike share programs. Along the Sea to Sky corridor, Squamish and Whistler blend outdoor adventure with pedestrian-oriented villages: BC Transit fixed-route and on-demand shuttles connect Squamish to Whistler via the SkyLinx service, while Whistler’s Village Stroll and seasonal shuttles provide daily access to lifts, shops, and trails. On the Sunshine Coast, local buses, water taxis, and walkable town centres connect seaside communities. Choosing a home near frequent transit, core village services, or regional rapid routes means errands, commutes, and recreation can occur without relying on a personal vehicle.

Metro Vancouver: Transit-Oriented Hotspots to Watch

Metro Vancouver’s core neighbourhoods showcase how transit infrastructure fuels a robust resale market and supports car-light living. In Mount Pleasant & Olympic Village, upcoming Broadway Subway stations at Great Northern Way–Emily Carr and Mount Pleasant will link residents to the Cambie and Arbutus Corridors in minutes, with rapid bus service further west to UBC. Along South Cambie and Oakridge, mid-rise communities along the Canada Line—freed from minimum-parking rules—offer walkable, low-maintenance resale options ideal for downsizers. The Surrey–Langley SkyTrain extension along Fraser Highway connects burgeoning town centres—where early-generation condos change hands at accessible price points yet promise upside as the line matures. Commercial Drive–Grandview Woodland, with a Walk Score of 86, four RapidBus routes, and Millennium Line access, sees limited resale inventory drive competitive pricing on small-scale infill homes that double as mortgage helpers without requiring a car.

The Okanagan: Walkable Town Cores and Regional Transit

In the Okanagan Valley—home to Kelowna, Vernon, and Penticton—car-free living looks different but is growing. Downtown Kelowna’s compact core offers shops, restaurants, and parks within walking distance. The BC Transit Valley Connector bus links communities from Vernon to Okanagan Lake, with rapid routes and park and rides supporting commuters. Bike share programs and improved sidewalks in Penticton and Peachland further enhance pedestrian experiences. While most errands still require a vehicle, choosing a home near the city core or a transit hub can eliminate daily driving for work or school.

Squamish & Whistler: Car-Light Adventures in the Mountains

In Squamish and Whistler, the outdoors is the draw—and a car often plays a role. That said, each community is increasingly walkable:

Squamish: The town centre’s compact layout makes shops, cafés, and trails reachable on foot or by e-bike. BC Transit’s fixed route buses connect Squamish to neighbouring communities and regional SkyLinx shuttles to Whistler. On-demand ride-hailing services and local shuttle loops reduce the need for a second household vehicle.
Whistler: The pedestrian-oriented Village Stroll links hotels, restaurants, and lift access—few residents need a car once on the mountain. Peak-season shuttles and the Pemberton–Whistler transit corridor serve workers and visitors alike. For homeowners, owning a car for off-peak exploration is common, but locals can live car light year-round by relying on shuttles and cycling paths.

Sunshine Coast: Coastal Car-Light Living

The Sunshine Coast combines seaside charm with a growing network of walkable town centres and regional transit. From Gibsons Landing’s waterfront restaurants to Sechelt’s downtown shops, residents can accomplish daily errands on foot or by local bus. BC Transit’s Sunshine Coast Connector links communities from Langdale to Earls Cove, with park & ride services and seasonal water taxi connections enhancing mobility.

What It Means for Buyers

First Time Buyers: A car-free lifestyle can improve mortgage affordability. Homes near reliable transit increasingly factor into property value assessments.
Investors: Properties without parking often sell at a modest discount yet achieve comparable rental income. Check for car share programs and cycling infrastructure.
Downsizers: Reduced vehicle reliance supports aging in place. Prioritize buildings with in-suite storage, elevator access, and nearby daily amenities.

Market Outlook: 2025–2030

BC expects over one million new residents over the next decade. As the province grows, car-free living is emerging not just as a trend, but as a fundamental shift that connects housing, climate action, and lifestyle. Buyers gain location efficiency, sellers may find walkable, transit-rich properties command premiums, and investors benefit from reduced parking costs.

Ready to Make the Switch?

Whether you seek an apartment steps from SkyTrain, a townhouse on a RapidBus corridor, or a presale in the next urban hub—or if you’re drawn to Okanagan town cores, mountain side villages, or the Sunshine Coast—our Stilhavn agents know BC’s evolving transit landscape inside and out. Explore listings near major transit routes, bike lanes, and pedestrian networks, and let’s find you a home where the only commute you’ll miss is the one you no longer make.

Metro Vancouver Real Estate Market Update – June 2025

Mon, 21 Jul 2025 22:13:05 GMT

June in Vancouver ushers in a confident shift into the summer season. With extended daylight, warmer temperatures, and a noticeable uptick in outdoor activity, the region transitions into a period characterized by increased activity and community engagement. June marks a strategic turning point in the real estate calendar, as the pace of everyday life begins to slow with the onset of summer. While many pause for seasonal routines, this period offers a window of opportunity for those who stay attuned to the market—where informed decisions and timely moves can create a distinct advantage before the fall rush begins.

June Market Highlights

After a turbulent first half of the year, home sales registered on the MLS® across Metro Vancouver* are showing emerging signs of a recovery, down ten per cent year-over-year – halving the decline seen last month.

Andrew Lis, Greater Vancouver REALTORS’ director of economics and data analytics said:

“On a trended basis, signs are emerging that sales activity is rounding the corner after a challenging first half to the year, with the year-over-year decline in sales in June halving the decline we saw in May. If this momentum continues, it may not be long before sales are up year-over-year, which would mark a shift toward a market with more demand than the unusually low demand we’ve seen so far this year.”

Residential Sales

Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,181 in June 2025, a 9.8 per cent decrease from the 2,418 sales recorded in June 2024. This was 25.8 per cent below the 10-year seasonal average (2,940).

Inventory + Home Price Data Analysis

There were 6,315 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2025. This represents a 10.3 per cent increase compared to the 5,723 properties listed in June 2024. This was 12.7 per cent above the 10-year seasonal average (5,604).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,561, a 23.8 per cent increase compared to June 2024 (14,182). This is 43.7 per cent above the 10-year seasonal average (12,223).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for June 2025 is 12.8 per cent. By property type, the ratio is 9.9 per cent for detached homes, 16.9 per cent for attached, and 13.9 per cent for apartments.

Detached Homes

Sales of detached homes in June 2025 reached 657, a 5.3 per cent decrease from the 694 detached sales recorded in June 2024. The benchmark price for a detached home is $1,994,500. This represents a 3.2 per cent decrease from June 2024 and a 0.1 per cent decrease compared to May 2025.

Apartments

Sales of apartment homes reached 1,040 in June 2025, a 16.5 per cent decrease compared to the 1,245 sales in June 2024. The benchmark price of an apartment home is $748,400. This represents a 3.2 per cent decrease from June 2024 and a 1.2 per cent decrease compared to May 2025.

Attached Homes

Attached home sales in June 2025 totalled 473, a 3.7 per cent increase compared to the 456 sales in June 2024. The benchmark price of a townhouse is $1,103,900. This represents a three per cent decrease from June 2024 and a 0.3 per cent decrease compared to May 2025.

For more information in your specific neighbourhood, text me at 604-805-6820. Happy to help!

Real Estate Market Update for Greater Vancouver – April 2025

Thu, 15 May 2025 17:36:38 GMT

April unfolded at a gentler pace, with cooler temperatures and grey skies across Metro Vancouver. As spring hesitated to settle in, so did the housing market. Ongoing uncertainty around interest rates and rising construction costs—further clouded by tariff discussions—added to buyer hesitation and developer caution.

The slowdown in home sales registered on the MLS® in Metro Vancouver1 that began early this year continued in April, with sales down nearly 24 per cent year-over-year.

Home Sales

Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 2,163 in April 2025, a 23.6 per cent decrease from the 2,831 sales recorded in April 2024. This was 28.2 per cent below the 10-year seasonal average (3,014).

“From a historical perspective, the slower sales we’re now seeing stand out as unusual, particularly against a backdrop of significantly improved borrowing conditions, which typically helps to boost sales. What’s also unusual is starting the year with Canada’s largest trading partner threatening to tilt our economy into recession via trade policy, while at the same time having Canadians head to the polls to elect a new federal government. These issues have been hard to ignore, and the April home sales figures suggest some buyers have continued to patiently wait out the storm.” – Andrew Lis, GVR director of economics and data analytics.

Inventory

There were 6,850 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in April 2025. This represents a 3.4 per cent decrease compared to the 7,092 properties listed in April 2024 and was 19.5 per cent above the 10-year seasonal average (5,731) for the month.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,207, a 29.7 per cent increase compared to April 2024 (12,491). This is 47.6 per cent above the 10-year seasonal average (10,979).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for April 2025 is 13.8 per cent. By property type, the ratio is 9.9 per cent for detached homes, 17.5 per cent for attached, and 15.7 per cent for apartments.

Home Price Data Analysis

Detached

Sales of detached homes in April 2025 reached 578, a 29 per cent decrease from the 814 detached sales recorded in April 2024. The benchmark price for a detached home is $2,021,800. This represents a 0.7 per cent decrease from April 2024 and a 0.6 per cent decrease compared to March 2025.

Apartments

Sales of apartment homes reached 1,130 in April 2025, a 20.2 per cent decrease compared to the 1,416 sales in April 2024. The benchmark price of an apartment home is $762,800. This represents a two per cent decrease from April 2024 and a 0.6 per cent decrease compared to March 2025.

Attached Homes

Attached home sales in April 2025 totalled 442, a 23.8 per cent decrease compared to the 580 sales in April 2024. The benchmark price of a townhouse is $1,102,300. This represents a 2.9 per cent decrease from April 2024 and a one per cent decrease compared to March 2025.

The Stilhavn Report

Whether you are looking to buy or sell a home or investment property in the coming months, or just curious about what’s happing in your neighbourhood, The Stilhavn Report has you covered. Providing in-depth market information and monthly summaries of what’s happening in the areas we service, this monthly report is the perfect starting point for first time buyers and market savvy investors alike.

Welcome to an Elevated Real Estate Experience

At Stilhavn, we continue our relentless pursuit of excellence because it’s our intrinsic belief that our clients deserve better than the status quo. When you become a client with Stilhavn you become a client for life, and it is our privilege to serve our community within the Lower Mainland.

We keep our fingers on the pulse, we collaborate extensively across our teams, and we are committed to providing an elevated experience when it comes to your next buying or selling journey.

Multi-Unit Dwellings: A Smart Strategy for Buyers and Investors Across BC

Thu, 08 May 2025 19:28:32 GMT

As housing affordability and investment strategy continue to evolve across British Columbia, multi-unit dwellings have emerged as an appealing option for both home buyers and investors. Whether you’re entering the market for the first time, purchasing a second property, or seeking a home that pays you back, owning a property with more than one rentable unit is a smart and strategic choice in today’s dynamic BC real estate market.

What is a Multi-Unit Dwelling?

Before we dive into investment opportunities across BC, let’s define a key term: multi-unit dwelling (often abbreviated as MUD). A multi-unit dwelling is a residential property that contains two or more self-contained units, each with its own kitchen, bathroom, and living space. These properties are increasingly popular among both home buyers and investors looking for flexible living arrangements or passive income potential.

Common types of multi-unit dwellings include:

Duplexes, triplexes, and fourplexes – Properties split into two, three, or four distinct units.
Detached homes with legal secondary suites – Often in the form of basement suites or garden suites.
Carriage or laneway homes – Additional units built on the same lot as the primary residence.

Whether you’re considering a property in Vancouver, the North Shore, Squamish, Whistler, the Sunshine Coast or the Okanagan, understanding the structure and appeal of multi-unit dwellings is the first step in making a smart, strategic real estate move.

Why Multi-Unit Dwellings Make Sense in 2025

From Vancouver to the Okanagan, real estate buyers are thinking creatively—and strategically. The rising cost of single-detached homes and recent zoning changes in many BC municipalities have created new pathways for homeowners to legally incorporate basement suites, laneway homes, and secondary units into their properties. These options, once niche, are now being embraced as part of a broader solution to housing shortages and cost-of-living pressures.

In Vancouver and on the North Shore, adding a secondary suite or laneway home to a detached property is increasingly common—and often encouraged by local bylaws. Meanwhile, in Squamish and Whistler, demand for flexible housing is growing quickly, driven by both full-time residents and investors looking to tap into year-round rental markets fueled by tourism and outdoor recreation.

Furthermore, the Okanagan continues to see a rise in suite-equipped homes in Kelowna, Penticton, and Vernon, supporting everything from long-term rentals to multi-generational living. Additionally, on the Sunshine Coast, where buyers seek a blend of affordability, lifestyle, and natural beauty, properties with income potential are increasingly desirable—especially for those commuting periodically or planning semi-retirement.

Built-in Income, Lifestyle Flexibility

What makes a multi-unit dwelling so compelling? Its versatility. Live in one unit and rent the other. Use one space as a vacation rental and the other for personal use. Host family members, support parents, or simply create a mortgage helper that turns a dream property into a financially feasible one. This is especially appealing in markets like Whistler, the Okanagan, and the Sunshine Coast, where many buyers are drawn by the appeal of a vacation home that can double as an income-generating investment. A property with a legal suite or a secondary dwelling offers a way to enjoy the lifestyle of a vacation home without the full financial burden.

Who Benefits Most from Multi-Unit Dwelling Ownership?

These properties offer smart solutions for a wide range of buyers, including:

First-time buyers looking to offset mortgage payments
Investors seeking long-term rental income
Families buying together or housing multiple generations
Recreational property buyers who want both enjoyment and rental potential

Retirees planning to age in place while generating passive income

How to Make It Work:

Check local zoning and bylaws. Many BC municipalities have streamlined processes for approving secondary suites.

Run the numbers. Understand potential rental income, expected expenses, and how that impacts your mortgage.

Work with an expert. A Stilhavn REALTOR® with experience in investment properties can help you assess value, secure financing, and navigate regulatory requirements.

The Bottom Line

Across BC—from Vancouver to Whistler, Kelowna to the Sunshine Coast—multi-unit dwellings are reshaping what it means to own real estate. They offer a rare combination of lifestyle flexibility, income potential, and long-term value. Whether you’re buying your first home, investing in a rental property, or exploring a vacation home that can help pay for itself, this is a strategy worth exploring.

Real Estate Market Update for Greater Vancouver - March 2025

Mon, 28 Apr 2025 15:07:44 GMT

March in Greater Vancouver arrived with all the signs of spring—cherry blossoms in full bloom, lively outdoor markets lining neighbourhood streets, and a fresh sense of energy as Vancouverites and BC residents welcomed the longer days. From the Vancouver Cherry Blossom Festival to the return of patio season, the city came alive with colour and connection. Amid this seasonal momentum, the real estate market told a more tempered story.

Home sales registered on the MLS® in the Metro Vancouver1 for the month of March were the lowest going back to 2019 for the same month, while active listings continue to their upward trend.

Home Sales

Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 2,091 in March 2025, a 13.4 per cent decrease from the 2,415 sales recorded in March 2024. This was 36.8 per cent below the 10-year seasonal average (3,308).

“If we can set aside the political and economic uncertainty tied to the new U.S. administration for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in years. Prices have eased from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to engage — but so far, buyers have not shown up in the numbers we typically see at this time of year.” – Andrew Lis, GVR director of economics and data analytics.

Inventory

There were 6,455 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2025. This represents a 29 per cent increase compared to the 5,002 properties listed in March 2024. This was 15.8 per cent above the 10-year seasonal average (5,572).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,546, a 37.9 per cent increase compared to March 2024 (10,552). This is 44.9 per cent above the 10-year seasonal average (10,038).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for March 2025 is 14.9 per cent. By property type, the ratio is 10.3 per cent for detached homes, 21.5 per cent for attached, and 16.2 per cent for apartments.

Home Price Data Analysis

Detached

Sales of detached homes in March 2025 reached 527, a 24.1 per cent decrease from the 694 detached sales recorded in March 2024. The benchmark price for a detached home is $2,034,400. This represents a 0.8 per cent increase from March 2024 and a 0.4 per cent increase compared to February 2025.

Apartments

Sales of apartment homes reached 1,084 in March 2025, a 10.2 per cent decrease compared to the 1,207 sales in March 2024. The benchmark price of an apartment home is $767,300. This represents a 0.9 per cent decrease from March 2024 and a 1 per cent increase compared to February 2025.

Attached Homes

Attached home sales in March 2025 totalled 472, a 4.6 per cent decrease compared to the 495 sales in March 2024. The benchmark price of a townhouse is $1,113,100. This represents a 0.8 per cent decrease from March 2024 and a 0.2 per cent increase compared to February 2025.

The Stilhavn Report

Welcome to an Elevated Real Estate Experience

We keep our fingers on the pulse, we collaborate extensively across our teams, and we are committed to providing an elevated experience when it comes to your next buying or selling journey.

1 Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

2 On February 12, 2024, The Real Estate Board of Greater Vancouver changed its organizational name to the Greater Vancouver REALTORS®.

Metro Vancouver Real Estate Market Update – February 2025

Sun, 23 Mar 2025 22:09:54 GMT

February in Vancouver is a time of coastal winter beauty and local events. Locals and visitors embrace the season by strolling along the scenic seawall, enjoying the city’s cozy café culture, or attending events like the Vancouver International Wine Festival. Whether bundling up for a rainy-day hike or indulging in a warm bowl of ramen, February offers the perfect blend of outdoor adventure and urban comfort.

After a 46% year-over-year increase in new listings in January, the number of newly listed properties on the MLS® in Metro Vancouver rose more moderately in February, helping to keep market conditions in balanced territory. As buyer activity remained steady, the market continued to adjust to shifting supply levels while maintaining overall stability.

Home sellers off to an active start in 2025

Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 1,827 on Metro Vancouver’s Multiple Listing Service® in February 2025, an 11.7 per cent decrease from the 2,070 sales recorded in February 2024. This total was 28.9 per cent below the 10-year seasonal average (2,571).

“After the rush of new listings in January, home sales and new listings in February were closer to historical averages, which has positioned the overall market in balanced conditions. With a potential Bank of Canada rate cut on the table for mid-March, homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre-pandemic times.” – Andrew Lis, GVR director of economics and data analytics

Inventory

There were 5,057 detached, attached and apartment properties newly listed for sale on the MLS® in February 2025. This represents a 10.9 per cent increase compared to the 4,560 properties listed in February 2024. This was 11.6 per cent above the 10-year seasonal average (4,530).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,744, a 32.3 per cent increase compared to February 2024 (9,634). This is also 36.4 per cent above the 10-year seasonal average (9,341).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for February 2025 is 14.8 per cent. By property type, the ratio is 10.7 per cent for detached homes, 18.5 per cent for attached, and 16.8 per cent for apartments.

Home Price Data Analysis

Detached

Sales of detached homes in February 2025 reached 477, a 14.8 per cent decrease from the 560 detached sales recorded in February 2024. The benchmark price for a detached home is $2,006,100. This represents a 1.8 per cent increase from February 2024 and is virtually unchanged compared to January 2025.

Apartments

Sales of apartment homes reached 976 in February 2025, a 10.6 per cent decrease compared to the 1,092 sales in February 2024. The benchmark price of an apartment home is $747,500. This represents a 2.8 per cent decrease from February 2024 and a 0.1 per cent decrease compared to January 2025.

Attached Homes

Attached home sales in February 2025 totalled 359, a 10.9 per cent decrease compared to the 403 sales in February 2024. The benchmark price of a townhouse is $1,087,100. This represents a 1.2 per cent decrease from February 2024 and a 1.7 per cent decrease compared to January 2025.

The Stilhavn Report

Navigating BC’s Real Estate Market Amid U.S. Trade Uncertainty

Fri, 07 Mar 2025 00:35:32 GMT

Navigating BC’s Real Estate Market Amid U.S. Trade Uncertainty

With U.S. tariffs now imposed on Canadian goods, home buyers and sellers may be wondering how this could impact BC’s real estate market. While economic uncertainty can create hesitation, it’s important to recognize that the fundamentals driving our housing market remain strong. For both buyers and sellers, understanding these factors can provide confidence in making real estate decisions.

The Strength of BC’s Housing Market

BC’s real estate market has historically remained resilient, even in times of economic fluctuation. With limited housing supply and consistent demand, home values continue to be supported by strong market fundamentals. Unlike industries directly tied to trade, such as manufacturing and exports, BC’s housing sector is largely driven by local factors, including population growth, job creation, and housing availability.

Navigating BC’s Real Estate Market Amid U.S. Trade Uncertainty

Real Advice for Home Buyers and Sellers

For Sellers: Be Realistic and Strategic

If you’re selling your home, the key to success in this market is motivation and realistic pricing. Overpricing will only lead to your property sitting on the market longer, and in a shifting market, time is not always on your side. If you’re serious about selling, working with an experienced agent to price competitively from the start will give you the best chance of attracting qualified buyers.

If you’re planning to move up in the market, this could actually work in your favour. While you may sell for slightly less than you originally hoped, you can likely buy your next home at a much better price—offsetting any perceived loss on the sale.

For Buyers: This Is a Rare Window of Opportunity

As a buyer, you are in one of the strongest positions in decades. You have more negotiation power, better choices, and less competition than in recent years. While some buyers hesitate due to economic uncertainty, history shows that those who take advantage of market slowdowns often come out ahead in the long run.

Unlike previous dips in confidence—such as the 2008 financial crisis—this time, fewer investors are competing for properties due to new tax constraints. This means end-user homebuyers (those looking for a place to live rather than an investment) have a clear advantage. If you’re planning to buy a home for the long term, this could be one of the best moments to do so.

The Real Challenge: Uncertainty, Not Market Conditions

The biggest obstacle in today’s market isn’t a lack of demand or economic instability—it’s uncertainty. Many buyers and sellers are waiting on the sidelines, unsure of what to do next. But the truth is, well-priced homes are still selling, and smart buyers are finding great deals. The key is making informed decisions rather than letting uncertainty hold you back.

Now is the time to have a strategic conversation about your real estate goals. Whether you’re buying or selling, working with a knowledgeable agent who understands the nuances of this market can help you make the right moves with confidence.

Final Thoughts

Despite the economic headlines, BC’s housing market remains strong, driven by solid demand, limited supply, and a growing population. Buyers have a rare advantage right now, and motivated sellers who price realistically can achieve successful outcomes. The key to navigating this market is staying informed, confident, and strategic.

If you’re thinking about buying or selling in BC, let’s connect. Reach out! 604-805-6820

Metro Vancouver Real Estate Market Update – January 2025

Thu, 06 Feb 2025 19:09:09 GMT

January in Vancouver is a mix of rain-soaked streets, misty mountain views, and the city’s signature west coast charm. While the downtown core delights with buzzing cafés, waterfront strolls, and cozy indoor escapes, the nearby slopes of Grouse, Cypress, and Seymour offer the perfect winter retreat for skiers and snowboarders. Despite the rain, Vancouverites make the most of the season—warming up with a good coffee, enjoying a scenic drive, or embracing the crisp, fresh air between downpours.

Just like the city itself, the real estate market is kicking off the year with momentum. In January 2025, new MLS® listings in Metro Vancouver1 surged 46% year-over-year, signalling that sellers are eager to enter the market early. With increased inventory, buyers may find more options—but in a competitive market, strategic moves are key.

Home sellers off to an active start in 2025

Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 1,552 in January 2025, an 8.8 per cent increase from the 1,427 sales recorded in January 2024. This was 11.3 per cent below the 10-year seasonal average (1,749).

“In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the new year. Even with this increase in new listing activity, sales continue to outpace last years’ figures, signaling some buyer appetite remains after the upswing that finished off 2024.” – Andrew Lis, GVR director of economics and data analytics

Inventory

There were 5,566 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® in Metro Vancouver in January 2025. This represents a 46.9 per cent increase compared to the 3,788 properties listed in January 2024. This was 31.1 per cent above the 10-year seasonal average (4,247).

Home Price Data Analysis

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2025 is 14.1 per cent. By property type, the ratio is 9.2 per cent for detached homes, 18.5 per cent for attached, and 16.5 per cent for apartments.

Detached

Sales of detached homes in January 2025 reached 380, a 0.3 per cent increase from the 379 detached sales recorded in January 2024. The benchmark price for a detached home is $2,005,400. This represents a 3.1 per cent increase from January 2024 and a 0.4 per cent increase compared to December 2024.

Apartments

Sales of apartment homes reached 846 in January 2025, a 13.4 per cent increase compared to the 746 sales in January 2024. The benchmark price of an apartment home is $748,100. This represents a 1.7 per cent decrease from January 2024 and a 0.2 per cent decrease compared to December 2024.

Attached Homes

Attached home sales in January 2025 totalled 321, a 12.6 per cent increase compared to the 285 sales in January 2024. The benchmark price of a townhouse is $1,105,600. This represents a 2.7 per cent increase from January 2024 and a 0.8 per cent decrease compared to December 2024.

Whether you are a Buyer or a Seller in a busy market, the key is to be prepared, get your”ducks in order”. After 20 years as a realtor, I am an expert guide in helping you do just that!

Let’s chat:604-805-6820

Why Now May Be the Perfect Time to List Your Home in BC

Mon, 03 Feb 2025 19:20:25 GMT

2025 is underway and with the spring market just around the corner, savvy sellers who list early can gain a crucial advantage. Instead of waiting for the flood of listings in April and May, those who list their home for sale now can get ahead of the competition, attract serious buyers, and maximize their sale price.

1. Low Inventory = Less Competition

The BC real estate market is waking up from its winter slowdown, but there are still fewer homes available for sale. That means buyers are actively looking but have limited options—giving your listing more visibility and negotiating power. By listing now, you position your home as a premium choice before the spring rush brings a surge of new listings.

2. Buyers Are Eager and Motivated

The cautious approach that dominated 2024 has resulted in strong pent up demand, especially in desirable BC markets like Vancouver, Kelowna and along the Sea to Sky. Many buyers who hesitated last year are now ready to act, eager to lock in a home before competition intensifies. If your home is priced and marketed correctly, it can attract motivated buyers who are serious about making a purchase now.

3. Interest Rates Are Stabilizing

The uncertainty surrounding interest rates had many buyers on the sidelines in 2024. But with inflation easing and the impact of significant rate cuts starting to take hold, confidence is returning. Buyers are adjusting to current rates, and those who need to move aren’t waiting for further changes.

4. The Spring Market Is Coming – Get Ahead of It

Every year, the real estate market sees a surge of activity in the spring. More listings hit the market, giving buyers more choices—and making it harder for sellers to stand out. By listing now, you avoid being lost in the crowd and can secure a great sale before competition increases.

5. Relisting? Now’s Your Chance to Refresh & Reposition

If your home was listed in 2024 without a sale, this is your opportunity to relist with a fresh strategy. A new marketing approach, updated pricing, staging improvements, or small renovations could make all the difference. Working with a Stilhavn realtor ensures your home is positioned for success in the current market.

6. The Right Realtor Makes All the Difference

Timing is everything in real estate, but so is expertise. A Stilhavn realtor understands local market trends, buyer demand, and how to showcase your home in the best possible light. With professional marketing, strategic pricing, and expert negotiation, we ensure you get top dollar for your home—without unnecessary delays.

Beat the Spring Rush – Contact me today

Don’t wait for the market to become crowded. Take advantage of current conditions, serious buyers, and low inventory by listing your home now. Whether you’re selling for the first time or relisting after a challenging 2024, the right strategy can make all the difference. Reach out today to start the process and stay ahead of the competition!

Navigating BC’s New Home Flipping Tax: What Buyers and Sellers Need to Know

Tue, 14 Jan 2025 20:24:17 GMT

As of January 1, 2025, British Columbia’s new Home Flipping Tax is officially in effect. Designed to curb speculative activity in the housing market, this tax directly targets short-term home resales, often referred to as “flipping.” For home buyers and sellers, understanding this tax is crucial to making informed decisions in 2025 and beyond.

What Is the BC Home Flipping Tax?

The Home Flipping Tax is a measure aimed at discouraging individuals and entities from buying and selling residential properties within a short time frame purely for profit. Under this tax, profits made from reselling a property within 12 months of its purchase are now subject to taxation as business income, rather than the more favourable capital gains tax rate.

This tax applies regardless of whether the property is a primary residence, investment property, or secondary home. However, there are specific exemptions for life events such as death, divorce, disability, or employment relocation.

Impact on Home Sellers

1. Increased Costs for Flippers

For those looking to flip properties for profit, the new tax significantly increases the cost of doing business. Previously, only 50% of capital gains were taxable; now, 100% of the profits from a flipped property will be taxed at the seller’s full income tax rate. This shift makes flipping less lucrative and could deter speculative activity.

2. Slower Transactions

Sellers who may have been inclined to sell within a year of purchase might now reconsider. Instead of flipping quickly, homeowners may hold onto properties for longer to avoid the tax, potentially reducing the number of listings on the market.

3. Strategic Pricing Adjustments

The added tax burden could force sellers to adjust their pricing strategies. To remain competitive, sellers may need to account for the reduced pool of buyers interested in short-term transactions, particularly investors.

Impact on Home Buyers

1. Reduced Competition from Flippers

For prospective buyers, especially first-time buyers, the tax could bring some relief. With fewer speculators in the market, there may be less competition for entry-level homes, potentially easing upward pressure on prices in certain segments.

2. Long-Term Investment Focus

Buyers will likely adopt a more long-term mindset, viewing homes as places to live rather than quick investments. This cultural shift may foster greater stability in the market.

3. Higher Prices for Renovated Homes

With flippers exiting the market, the availability of fully renovated properties may decline. Buyers seeking move-in-ready homes could face higher prices for such properties, as they’ll likely become rarer.

Broader Market Effects

Overall, the Home Flipping Tax is expected to create a more balanced real estate market in British Columbia. By reducing speculative activity, the government hopes to alleviate some of the affordability challenges faced by residents. However, critics argue that the tax may reduce market liquidity and inadvertently exacerbate supply constraints.

What Should Buyers and Sellers Do?

Buyers will likely adopt a more long-term mindset, viewing homes as places to live rather than quick investments. This cultural shift may foster greater stability in the market.

For Buyers:

Focus on long-term affordability and value when purchasing a home.
Consider buying properties that may need renovations, as these could offer better value compared to turnkey homes.
For Sellers:
- Plan your transactions carefully, ensuring you’re aware of the tax implications if selling within 12 months.
- Consult a tax professional to explore exemptions or strategies to minimize tax liabilities.

Metro Vancouver Real Estate Market Update – December 2024

Wed, 08 Jan 2025 18:53:30 GMT

December gifted Metro Vancouver with a strong finish, closing out 2024 on a high note by reflecting renewed demand and strengthening momentum in the market.

2024: A Year In Review

Greater Vancouver REALTORS® (GVR)2reports a steady year overall, with 26,561 residential sales recorded in 2024—a 1.2% increase compared to 2023 (26,249 sales). While this total is 20.9% below the 10-year annual sales average, it showcases resilience in the market amidst evolving conditions.

“Disappointingly, sales came in shy of our forecasted target for the year, but the December figures signal an emerging pattern of strength in home sales, building on the momentum seen in previous months,” – said Andrew Lis, REBGV director of economics and data analytics.

Residential Home Sales

Residential sales in the region totalled 1,765 in December 2024, a 31.2 per cent increase from the 1,345 sales recorded in December 2023. This was 14.9 per cent below the 10-year seasonal average (2,074) for the month.

Inventory

There were 1,676 detached, attached and apartment properties newly listed for sale on the MLS® system in Metro Vancouver in December 2024. This represents a 26.3 per cent increase compared to the 1,327 properties listed in December 2023. This was 1.1 per cent below the 10-year seasonal average (1,695).

Home Price Data Analysis

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for December 2024 is 16.8 per cent. By property type, the ratio is 12.1 per cent for detached homes, 23.6 per cent for attached, and 18.7 per cent for apartments.

Detached

Sales of detached homes in December 2024 reached 494, a 31.4 per cent increase from the 376 detached sales recorded in December 2023. The benchmark price for a detached home is $1,997,000. This represents a two per cent increase from December 2023 and is nearly unchanged compared to November 2024.

Apartments

Sales of apartment homes reached 891 in December 2024, a 23.9 per cent increase compared to the 719 sales in December 2024. The benchmark price of an apartment home is $749,900. This represents a 0.1 per cent decrease from December 2023 and a 0.4 per cent decrease compared to November 2024.

Attached Homes

Attached home sales in December 2024 totalled 371, a 55.9 per cent increase compared to the 238 sales in December 2024. The benchmark price of a townhouse is $1,114,600. This represents a 3.4 per cent increase from December 2023 and a 0.3 per cent decrease compared to November 2024.

FOR A DEEPER DIVE ON YOUR NEIGHBOURHOOD, REACH OUT ANY TIME!

604-805-6820

Stilhavn Cares: Giving Back

Wed, 04 Dec 2024 20:22:42 GMT

At Stilhavn Real Estate Services, community lies at the heart of everything we do. Guided by a deep commitment to giving back, we’ve established the Stilhavn Cares initiative, which enables us to support local causes and organizations making a meaningful difference in the communities where we live and work. This Giving Tuesday, we’re reflecting on some of the incredible work we’ve accomplished together, from supporting children in hospitals to fighting food insecurity and beyond.

Toyhavn: Bringing Smiles to KGH’s Youngest Patients

In December 2023, Stilhavn partnered with the KGH Foundation to create Toyhavn, a centralized program at Kelowna General Hospital (KGH) that provides toys, books, and crafts to young patients. More than just a repository of playthings, Toyhavn offers tools that support children during their hospital stays, helping to ease anxiety and make their environment feel more welcoming and less intimidating.

Over the past six months, Toyhavn has supported 12 departments at KGH and distributed over 1,400 toys to children. These items bring comfort and joy, while also acting as relationship-building tools that foster a sense of connection between patients, their families, and care teams.

To ensure the long-term success of Toyhavn, Stilhavn’s Kelowna agents have committed $20,000 per year over the course of five years, for a total commitment of $100,000. This commitment underscores our belief in the importance of brightening the lives of children in difficult circumstances, year-round—not just during the holidays.

Backpack Buddies: Addressing Food Insecurity

Further along the Sea-to-Sky corridor, Stilhavn’s agents are making an impact through their support of Backpack Buddies, a program that provides weekend meals to schoolchildren facing food insecurity. For many children, the meals they receive at school are their primary source of nutrition, leaving weekends as a gap in their food security. Backpack Buddies fills this gap by discreetly delivering packs of nutritious food to students in need.

This year, Stilhavn’s Squamish agents are on track to contribute over $11,000 to Backpack Buddies, ensuring local children have the food they need to thrive.

Giving Back in Metro Vancouver

Since our inception in 2018, Stilhavn agents in Metro Vancouver have supported two vital organizations: Covenant House and the BC SPCA.

Covenant House provides shelter, support, and life-changing programs for youth facing homelessness, offering them the tools to build brighter futures. This year, Stilhavn is set to donate over $20,000 to support Covenant House’s essential work.

Meanwhile, the BC SPCA focuses on animal welfare, providing shelter and care to animals in need and promoting education on responsible pet ownership. We’re proud to contribute over $10,000 this year to help them continue their lifesaving work.

Building Stronger Communities

At Stilhavn Real Estate Services, giving back isn’t just something we do—it’s who we are. From toys that bring joy to young patients to meals that combat food insecurity and support for vulnerable youth and animals, the Stilhavn Cares initiative embodies our belief that thriving communities are built when we care for one another.

*In addition to giving to Covenant House and the SPCA, I love my volunteer moments at The Greater Vancouver Food Bank. If you are interested in donating, you can find my donation page here on my website.

Greater Vancouver Market Update – October 2024

Mon, 18 Nov 2024 18:20:19 GMT

October brought a welcome shift in the Greater Vancouver1 real estate market, marking a notable upswing after months of slower-than-average sales activity. Typically, sales were tracking about 20 per cent below the ten-year seasonal average, but October’s figures reveal a strong rebound, with home sales surging over 30 per cent compared to the same time last year.

Residential Home Sales

Greater Vancouver REALTORS® (GVR)2 reports that residential sales registered on the Multiple Listing Service® (MLS®) in the region totalled 2,632 in October 2024, a 31.9 per cent increase from the 1,996 sales recorded in October 2023. This was 5.5 per cent below the 10-year seasonal average (2,784).

“Typically, reductions to mortgage rates boost demand, and the strong October sales numbers suggest buyers may finally be responding to lower borrowing costs after waiting on the sidelines for months. To some market watchers, this rebound may come as a surprise, but with four consecutive rate cuts from the Bank of Canada – and more likely to come on the horizon – it was only a matter of time until signs of renewed strength in demand showed up.” – Andrew Lis, REBGV director of economics and data analytics.

Inventory

There were 5,452 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in October 2024. This represents a 16.9 per cent increase compared to the 4,664 properties listed in October 2023. This was 20 per cent above the 10-year seasonal average (4,545).

Home Price Data Analysis

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,477, a 24.8 per cent increase compared to October 2023 (11,599). This total is also 26.2 per cent above the 10-year seasonal average (11,475).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for October 2024 is 18.8 per cent. By property type, the ratio is 13.4 per cent for detached homes, 22.5 per cent for attached, and 22.2 per cent for apartments.

Detached

Sales of detached homes in October 2024 reached 724, a 25.5 per cent increase from the 577 detached sales recorded in October 2023. The benchmark price for a detached home is $2,002,900. This represents a 0.3 per cent increase from October 2023 and a 1 per cent decrease compared to September 2024.

Apartments

Sales of apartment homes reached 1,393 in October 2024, a 33.4 per cent increase compared to the 1,393 sales in October 2023. The benchmark price of an apartment home is $757,200. This represents a 1.6 per cent decrease from October 2023 and a 0.6 per cent decrease compared to September 2024.

Attached Homes

Attached home sales in October 2024 totalled 501, a 40.7 per cent increase compared to the 356 sales in October 2023. The benchmark price of a townhouse is $1,108,800. This represents a 0.4 per cent increase from October 2023 and a 0.9 per cent increase compared to September 2024.

Article courtesy of Stilhavn Real Estate Services

*For more details about your neighbourhood, contact me directly: Bridget 604-805-6820 or bridget@bridgetross.ca

What Recent Bank of Canada Rate Cuts Mean for Homebuyers and Sellers in BC

Fri, 15 Nov 2024 21:21:30 GMT

On October 23rd, the Bank of Canada (BoC) lowered its key policy interest rate by 50 basis points, or half a percent. For both homebuyers and sellers alike, understanding these rate cuts is crucial to making informed decisions. Here’s a breakdown of what the rate cuts mean and how they could influence buying or selling a home in BC.

What Are Interest Rates, and Why Do They Matter?

The BoC sets a benchmark interest rate that influences how much it costs to borrow money in Canada. When this rate is low, borrowing costs decrease, which means mortgages become more affordable. Conversely, when the rate is high, loans become more expensive, slowing down consumer borrowing and spending. These rate adjustments are the BoC’s way of helping stabilize the economy by either encouraging or discouraging spending.

What Lower Rates Mean for Homebuyers

1. More Affordable Mortgages
One of the most direct effects of rate cuts is that they make mortgages cheaper. Lower interest rates mean lower monthly payments, which can allow some buyers to afford a larger mortgage than they could at a higher rate. For first-time homebuyers, this can be a game-changer, as the cost of entry into the BC market—especially in urban areas like Metro Vancouver and Kelowna—has been a high barrier to homeownership.

2. Improved Buying Power
When rates are low, buyers often find they qualify for larger loans, which can broaden their options and make more expensive homes attainable. This increased buying power can enable buyers to consider homes they might otherwise have thought were out of their price range. However, it’s crucial for buyers to stay cautious and ensure they can handle payments even if rates rise in the future.

3. Increased Competition
With more affordable mortgages, more people are likely to enter the housing market. This can lead to increased competition, especially for desirable properties. Buyers should be prepared to act quickly and may encounter multiple offers on homes in hot markets like Vancouver and Kelowna. Having financing pre-approved and a solid understanding of your budget will help in a competitive environment.

What Lower Rates Mean for Sellers

1. More Potential Buyers
With the cost of borrowing lowered, more people are able to afford home purchases, which can benefit sellers by expanding the pool of interested buyers. This demand may help properties sell faster and possibly at higher prices, especially in areas where housing demand already outpaces supply.

2. Higher Selling Prices
Low interest rates can drive up home prices as buyers are willing to pay more due to the affordability of loans. This is especially beneficial for sellers in high-demand areas. However, sellers should still be mindful of market trends and work with a realtor to set realistic pricing to attract serious buyers.

3. Opportunities for Upsizing
For current homeowners looking to upgrade to a larger home, low interest rates make upsizing more financially feasible. Selling a current property and taking on a new mortgage at a lower interest rate can be attractive, particularly if you’re looking to move to a more spacious home in the same area or a high-demand market.

Keep in Mind

While low rates are attractive, there are a few considerations for both buyers and sellers.

Future Rate Changes: Interest rates can rise over time, impacting future mortgage payments. Buyers should consider whether they could still afford their home if rates increase.

Market Conditions: Low rates can fuel housing demand, but the market may still face challenges like economic uncertainty or supply shortages. Both buyers and sellers should remain informed on these factors.

In summary, recent Bank of Canada rate cuts provide an opportunity for both homebuyers and sellers in BC. Interested in how these rates changes may affect you personally? Looking to make a move? Reach out!

Metro Vancouver Real Estate Market Update – September 2024

Wed, 09 Oct 2024 20:35:39 GMT

September in Metro Vancouver is a month where the city starts to truly transform, blending the last warmth of summer with the crisp beginnings of fall. The changing leaves paint the streets with saturated colours, while the weather still invites outdoor adventures and strolls on the seawall or through local parks. It’s also a time when the real estate market typically picks up, as buyers and sellers get back to business after the summer break. This year, despite the recent cuts in borrowing costs, home sales registered on the MLS® in Metro Vancouver1 declined 3.8 per cent year over year in September.

Residential Home Sales

Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 1,852 in September 2024, a 3.8 per cent decrease from the 1,926 sales recorded in September 2023. This was 26 per cent below the 10-year seasonal average (2,502).

“Sales continue trending roughly 25 per cent below the ten-year seasonal average in the region, which, believe it or not, is a trend that has been in place for a few years now. With the September data, sales are now tracking slightly below our forecast however, but we remain optimistic sales will still end 2024 higher than 2023.” – Andrew Lis, REBGV director of economics and data analytics.

Inventory

There were 6,144 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®)3 in Metro Vancouver in September 2024. This represents a 12.8 per cent increase compared to the 5,446 properties listed in September 2023. This was also 16.7 per cent above the 10-year seasonal average (5,266).

Home Price Data Analysis

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,932, a 31.2 per cent increase compared to September 2023 (11,382). This is 24.2 per cent above the 10-year seasonal average (12,027).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for September 2024 is 12.8 per cent. By property type, the ratio is 9.1 per cent for detached homes, 16.9 per cent for attached, and 14.6 per cent for apartments.

Analysis of the historical data suggests 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.

Detached

Sales of detached homes in September 2024 reached 516, a 9.8 per cent decrease from the 572 detached sales recorded in September 2023. The benchmark price for a detached home is $2,022,200. This represents a 0.5 per cent increase from September 2023 and a 1.3 per cent decrease compared to August 2024.

Apartments

Sales of apartment homes reached 940 in September 2024, a 4.9 per cent decrease compared to the 988 sales in September 2023. The benchmark price of an apartment home is $762,000. This represents a 0.8 per cent decrease from September 2023 and a 0.8 per cent decrease compared to August 2024.

Attached Homes

Attached home sales in September 2024 totalled 378, a 7.4 per cent increase compared to the 352 sales in September 2023. The benchmark price of a townhouse is $1,099,200. This represents a 0.5 per cent decrease from September 2023 and a 1.8 per cent decrease compared to August 2024.

Reach out for details of your specific neighbourhood!

Bridget 604-805-6820

Enabling Small-Scale, Multi-Unit Housing: A Path to Family-Friendly, Transit-Oriented Homes

Tue, 01 Oct 2024 18:44:35 GMT

As housing affordability and availability continue to be top concerns for many families, small-scale, multi-unit housing is emerging as a crucial solution. This type of housing can offer an alternative to single-family housing that fits seamlessly into existing neighbourhoods. Throughout BC, new zoning regulations are making small-scale housing more accessible and encouraging communities to grow sustainably while meeting the needs of families.

Whether you’re a buyer, seller, or property owner looking to maximize the potential of your investment, here’s how small-scale, multi-unit housing can benefit you and your community.

What is Small-Scale, Multi-Unit Housing?
This housing includes:

Secondary suites (units within a single-family home)
Accessory dwelling units (ADUs), such as garden suites or laneway homes
Triplexes and fourplexes
Townhomes and house-plexes

These options offer more affordable alternatives to single-family homes and provide flexible living arrangements while preserving neighbourhood character.

Zoning Changes: Making Multi-Unit Housing Accessible
Across BC, new zoning rules allow secondary suites and ADUs in single-family zones across all municipalities and regional district electoral areas, without needing to rezone.

In areas zoned for single-family or duplex homes, three to four units must be permitted if the property:
Is within an urban containment boundary established by a regional growth strategy
Is in a municipality with a population over 5,000, regardless of containment boundaries

For properties over 280m² located near frequent bus routes, zoning now allows up to six units. This supports transit-oriented development, encouraging sustainable living by reducing car reliance.

Benefits for Buyers and Sellers

Whether you’re a buyer looking for affordable options or a seller looking to maximize your property’s value, small-scale, multi-unit housing offers numerous advantages.

For Buyers:

AFFORDABILITY: Multi-unit housing options like triplexes, townhomes, and ADUs provide more affordable alternatives to single-family homes, especially in competitive urban markets.
FLEXIBILITY: Living in or owning a property with multiple units allows for rental income or multi-generational living, offering financial benefits and more flexible living arrangements.
PROXIMITY TO TRANSIT: Properties near frequent bus routes reduce reliance on cars, cutting transportation costs and promoting sustainable lifestyles.

For Sellers:

INCREASED PROPERTY VALUE: Properties that can accommodate multi-unit housing, especially near transit, are likely to see higher demand and increased property values.
BROADER MARKET APPEAL: Multi-unit properties attract a wider range of buyers, from investors seeking rental income to families looking for flexible housing arrangements.
INVESTMENT POTENTIAL: Adding secondary suites or ADUs can boost the appeal and value of your property, making it a more attractive investment for future buyers.
Conclusion: The Future of Family-Friendly, Attainable Housing
As cities and communities grow, small-scale, multi-unit housing is poised to play a crucial role in providing affordable, family-oriented homes. With new zoning regulations, it’s easier than ever to add additional units to single-family lots, especially in areas near frequent transit. This shift not only helps address the housing crisis but also supports sustainable, transit-oriented growth.
- Wondering how these changes might impact your home buying or selling experience? Don’t hesitate to reach out!
  Bridget Ross - 604-805-6820 - bridget@bridgetross.ca

*Article courtesy of Stilhavn Real Estate Services

Your Guide to SchoolCatchment Areas

Tue, 24 Sep 2024 19:27:10 GMT

When it comes to your child’s education, finding the right school is every parent’s top priority. But with so many options out there, how do you narrow down your choices? This guide will walk you through the process of researching schools and understanding catchment areas, helping you make an informed decision about your child’s educational future. Whether you’re a parent with school-aged children or planning for the future, keep reading for valuable insights to help you find the perfect home for you and your growing family.

Understanding School Catchments

Public schools across BC adhere to the school catchment system. A school catchment is a defined geographic area around a school. Students living in this area are generally assigned to attend that school. This system differs from one based solely on distance, as catchment boundaries are clearly defined.

In some cases, families residing near the edge of a catchment area may not be assigned to the closest school. This can be surprising for homebuyers who may assume their children will always attend the school that is closest to their home.

Capacity Issues in Popular Catchments

While students will typically attend their assigned “in catchment” school, living within a specific catchment doesn’t guarantee attendance at the catchment school. In densely populated areas or highly sought-after school catchments, it’s possible that the number of students within a catchment exceeds the school’s capacity. When this happens, some students may be assigned to schools outside their home catchment. This situation underscores the importance of researching school capacities.

Researching Schools in Your Target Area

Now that we understand the basics of school catchments, let’s explore how to research and identify the best schools in your desired area.

One of the most efficient ways to determine which schools serve a particular address is by using online school locator tools. Most school districts provide these resources on their websites. To find them, simply search for your city name followed by “school locator” in your preferred search engine.

Vancouver residents can use the school locator tool available here.

Kelowna residents can access their school locator here.

Evaluating School Performance

While knowing which schools serve an area is important, you’ll also want to assess the quality of those schools, particularly if your search spans a broader area. Here are some ways to evaluate school performance:

Standardized Test Scores: Many regions publish standardized test scores for public schools. These can provide insight into how well students are performing academically.
Graduation Rates: High school graduation rates can be another indicator of a school’s effectiveness. Schools with higher graduation rates may be better at supporting students through to completion of their studies.

Special Programs and Extracurricular Activities: Consider the variety of programs and activities offered by schools.

Visiting Schools in Person: If possible, arrange visits to the schools you’re considering. This allows you to observe the learning environment, meet staff, and get a feel for the school culture.

Speaking with Current Parents and Students in the Community: Connecting with families who currently have children attending the schools you’re interested in can provide valuable insights into what you can expect.

Remember that while finding the “best” school is important, what really matters is finding the right fit for your child and your family’s needs. For guidance or if you have questions about how school districts might impact your home search or property values, don’t hesitate to reach out. As a former school teacher in Greater Vancouver, I have taught full time in Vancouver and South Surrey, and been a substitute teacher in dozens of schools. I love chatting about all things schools!

August often sees a slowdown in Vancouver’s real estate market due to the summer holiday mindset, where both buyers and sellers take a step back to relax and travel. This seasonal dip is also influenced by lower inventory levels as homeowners wait for the

Mon, 09 Sep 2024 17:57:34 GMT

This year is no different. After a quieter summer market with sales below their ten-year seasonal averages in August, sellers await buyers’ return.

Residential Home Sales

Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region1 totalled 1,904 in August 2024, a 17.1 per cent decrease from the 2,296 sales recorded in August 2023. This total was also 26 per cent below the 10-year seasonal average (2,572).

“Sales remain in a holding pattern, trending roughly 20 per cent below their 10-year seasonal average, which suggests buyers are still feeling the pinch of higher borrowing costs, despite two recent quarter percentage point reductions to the policy rate this summer.” – Andrew Lis, REBGV director of economics and data analytics.

Inventory

There were 4,109 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2024. This represents a 4.2 per cent increase compared to the 3,943 properties listed in August 2023. This total was 1.7 per cent below the 10-year seasonal average (4,179).

Home Price Data Analysis

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,812, a 37 per cent increase compared to August 2023 (10,082). This total is also 20.8 per cent above the 10-year seasonal average (11,432).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for August 2024 is 14.3 per cent. By property type, the ratio is 9.6 per cent for detached homes, 18 per cent for attached, and 17.2 per cent for apartments.

Detached

Sales of detached homes in August 2024 reached 509, a 13.9 per cent decrease from the 591 detached sales recorded in August 2023. The benchmark price for a detached home is $2,048,400. This represents a 1.8 per cent increase from August 2023 and a 0.1 per cent decrease compared to July 2024.

Apartments

Sales of apartment homes reached 1,012 in August 2024, a 20.3 per cent decrease compared to the 1,270 sales in August 2023. The benchmark price of an apartment home is $768,200. This represents a 0.1 per cent decrease from August 2023 and unchanged compared to July 2024.

Attached Homes

Attached home sales in August 2024 totalled 370, a 12.3 per cent decrease compared to the 422 sales in August 2023. The benchmark price of a townhouse is $1,119,300. This represents a 0.8 per cent increase from August 2023 and a 0.5 per cent decrease compared to July 2024.

The Stilhavn Report

Article courtesy of Stilhavn Real Estate Services

Metro Vancouver Real Estate Market Update – July 2024

Mon, 12 Aug 2024 20:01:38 GMT

July in Vancouver draws locals and tourists alike to explore the city’s beautiful parks, beaches, and scenic spots, while the community markets and food festivals offer diverse culinary experiences, making it one of the most active months in Vancouver. Despite a July packed with events and festivals, it did not translate to a busy month for the housing market. Newly listed properties registered on the MLS® rose nearly twenty per cent year over year in July, helping to sustain a healthy level of inventory in Metro Vancouver.

Residential Home Sales:

On the demand side, the Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 2,333 in July 2024, a 5 per cent decrease from the 2,455 sales recorded in July 2023. This was 17.6 per cent below the 10-year seasonal average (2,831).

“The trend of buyers remaining hesitant, that began a few months ago, continued in the July data despite a fresh quarter percentage point cut to the Bank of Canada’s policy rate.” – Andrew Lis, REBGV director of economics and data analytics.

Inventory:

There were 5,597 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in July 2024. This represents a 20.4 per cent increase compared to the 4,649 properties listed in July 2023. This was also 12.7 per cent above the 10-year seasonal average (4,968).

Home Price Data Analysis

The total number of properties currently listed for sale on the MLS® in Metro Vancouver is 14,326, a 39.1 per cent increase compared to July 2023 (10,301). This is also 21.5 per cent above the 10-year seasonal average (11,788).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for July 2024 is 16.9 per cent. By property type, the ratio is 12.8 per cent for detached homes, 20.1 per cent for attached, and 19.3 per cent for apartments.

Detached:

Sales of detached homes in July 2024 reached 688, a 1 per cent increase from the 681 detached sales recorded in July 2023. The benchmark price for a detached home is $2,049,000. This represents a 2.1 per cent increase from July 2023 and a 0.6 per cent decrease compared to June 2024.

Apartments:

Sales of apartment homes reached 1,192 in July 2024, a 6.9 per cent decrease compared to the 1,281 sales in July 2023. The benchmark price of an apartment home is $768,200. This represents a 0.3 per cent decrease from July 2023 and a 0.7 per cent decrease compared to June 2024.

Attached Homes:

Attached home sales in July 2024 totalled 437, a 6.2 per cent decrease compared to the 466 sales in July 2023. The benchmark price of a townhouse is $1,124,700. This represents a 1.4 per cent increase from July 2023 and a 1.2 per cent decrease compared to June 2024.

The Stilhavn Report

Article courtesy of Stilhavn Real Estate Services

Have You Ever Had Buyer’s Remorse When Purchasing a Home?

Wed, 24 Jul 2024 14:47:43 GMT

Real Estate Magazine recently revealed the results of a survey that indicated nearly 80 per cent of Canadians who bought a home within the last five years say they have no regrets despite rising interest rates and mortgage payments.

Of those who say they sometimes or regularly regret buying a home, the most common reason is learning that a different home or location would’ve been better.

How to Avoid Buyer’s Remorse When Purchasing a Home: With a home purchase being such a large investment, it’s normal to worry if you’re making the right decision. The good news is there are steps you can take to minimize regret and feel confident you’ve selected the right home.

Decide Your “Deal-breakers” vs. “Nice-to-Haves”:
First, decide what features are absolute must-haves versus nice-to-haves. Must-haves are deal-breakers. You just can’t live without them. Nice-to-haves are things you’d like but aren’t necessities. For example, you may be absolutely committed to a certain number of bedrooms but willing to be flexible when it comes to exterior space. Distinguishing needs from wants will help you identify homes that fit your criteria.

Set a Realistic Budget:
Another tip is to set a realistic budget before house hunting. Going over budget is a common reason for buyer’s remorse. Make sure you factor in not only the purchase price but other costs that come with home ownership like closing costs, property taxes, and insurance.

Do Your Research:
It’s also key to thoroughly research the neighborhood, school district, commute times, etc. Many buyers regret not looking more into these things. Talk to locals to get opinions on the area. Verify school ratings if relevant. Check commute times to your workplace. This will ensure the surrounding area is a good fit for what you’re looking for.

Invest in a Home Inspection:
Finally, a home inspection (even if the property seems perfect) is one of the best investments you can make. Paying a few hundred dollars for an inspection is a small price to pay for peace of mind. Inspectors will check for issues like structural problems, leaks, pest infestation, faulty wiring, and furnace problems. Their report will inform you of any needed repairs and the approximate costs.

Work with an Experienced Real Estate Agent

One of the best defenses against buyer’s remorse is having an experienced real estate professional guide you through the process. An experienced agent will have the expertise and connections to help you avoid missteps and find a home aligned with your needs.

Look for an agent who is:

– Committed to understanding your unique needs and preferences.
– Local to the area so they can clearly communicate the pros and cons of specific neighbourhoods.
– Collaborative and able to work effectively with you and with other agent

I like to start all my relationships with Buyers with a meeting - to see if we are a good fit, and share with them my values, my knowledge and expertise. We can interview each other!

Co-Ownership with Your Parents: Is It Right for You?

Mon, 17 Jun 2024 19:55:48 GMT

Every generation of first time homebuyers faces their own unique challenges. A recent report from Statistics Canada suggests that young people in BC are turning to family co-ownership as a means of overcoming some of those challenges. In fact, in BC, one out of every five residential properties owned by younger Millennials and older Gen Zers – those born in the 1990’s – is co-owned with a parent.

Reasons for co-ownership vary. In some cases, co-ownership is a purely financial decision. The adult child lives in the co-owned property while the parent lives elsewhere. Or, co-ownership can be based on social factors, with multigenerational living situations allowing for shared childcare responsibilities and combating social isolation.

But is co-ownership right for your family? Whether it’s finding the perfect multigenerational home or navigating the complexities of mortgage co-signing, at Stilhavn, we understand the benefits and challenges associated with co-ownership. Here are a few things to consider if you think this options could be for your family.

Benefits of Co-Owning with Family

Increased Buying Power and More Affordability
Combining finances with a family member typically allows buyers to qualify for a larger loan. Further, shared monthly costs can help to improve affordability.

Building Equity
As you pay down the mortgage, both parties build equity in the home. This provides a return on investment and longer term financial security.

Potential Tax Benefits
In some cases, co-ownership may provide tax deductions for mortgage interest, property taxes, or capital gains when the home is sold.

Shared Responsibility
Co-owning can mean sharing homeownership duties like maintenance and repairs. This can ease the burden, especially for aging parents.

Challenges of Co-Owning with Family

While co-ownership has benefits, it also comes with some things to consider:

Agreeing on Shared Decisions
As co-owners, you’ll need to agree on any major decisions regarding the property, including renovations, rental and the eventual sale of the home. Conflicting opinions can strain relationships.

Unequal Financial Commitment
If one party provides more for the down payment, they may want a larger share of proceeds when the home sells. This should be discussed upfront.

Complicated Exit Strategy
Selling a co-owned home requires navigating each person’s share of equity. Exiting the arrangement may be difficult if you have a falling out.

Questions to Ask Before Co-Owning

Before taking the leap into co-ownership, have an honest conversation about the following:

How much will each person contribute to the down payment and monthly costs?
How long do you plan to co-own the home? Under what conditions would you sell it?
What renovations or changes can each person make without approval?
What happens if one person faces financial hardship and can’t make payments?
What if one owner wants to move in with a significant other or new spouse?
How will household chores, repairs and maintenance be divided?
How will you resolve conflicts if they arise?
How will proceeds be divided when the home is sold?

Putting it in Writing

To prevent misunderstandings, put the co-ownership details in a written agreement. Having things in writing provides legal protection if disagreements come up and helps to avoid any strain on the relationship as a result. The agreement should address important topics such as ownership percentage, cost division, occupancy rules and repairs.

If this option is available to you as a FIRST TIME HOME BUYER, let’s chat: 604-805-6820, bridget@bridgetross.ca

Article courtesy of Stilhavn Real Estate Services

Metro Vancouver May 2024 Real Estate Update

Fri, 14 Jun 2024 15:54:06 GMT

May was certainly cooler this year, not just in terms of temperatures, but also in the real estate market. In May, the number of transactions on the MLS® in Metro Vancouver1 saw a noticeable decline compared to the typical volume for this time of year. This decrease in buying activity has contributed to an accumulation of homes available for sale, resulting in over 13,000 properties now actively listed on the MLS® in the region.

The reduction in transactions suggests a potential cooling in the market, where buyers might be exercising more caution or waiting for more favourable conditions. Meanwhile, sellers continue to list their properties, leading to an increased supply of homes. This growing inventory could result in more competitive pricing and greater opportunities for buyers, potentially shifting market dynamics and influencing future trends in the real estate sector. As the market adjusts, both buyers and sellers may need to adapt their strategies to navigate the evolving landscape.

Residential Home Sales

The Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 2,733 in May 2024, a 19.9 per cent decrease from the 3,411 sales recorded in May 2023. Last month’s sales total was also down 19.6 per cent from the 10-year seasonal average for May (3,398).

“The surprise in the May data is that sales have come in softer than what we’d typically expect to see at this point in the year, while the number of newly listed homes for sale is carrying some of the momentum seen in the April data.” – Andrew Lis, REBGV director of economics and data analytics.

Inventory

There were 6,374 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in May 2024. This represents a 12.6 per cent increase compared to the 5,661 properties listed in May 2023 and a seven per cent increase compared to the 10-year seasonal average (5,958).

Home Price Data Analysis

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,600, a 46.3 per cent increase compared to May 2023 (9,293). This total is also up 19.9 per cent above the 10-year seasonal average (11,344).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for May 2024 is 20.8 per cent. By property type, the ratio is 16.8 per cent for detached homes, 25.1 per cent for attached, and 22.5 per cent for apartment properties.

Detached

Sales of detached homes in May 2024 reached 846, an 18.9 per cent decrease from the 1,043 detached sales recorded in May 2023. The benchmark price for a detached home is $2,062,600. This represents a 5.9 per cent increase from May 2023 and a 1.3 per cent increase compared to April 2024.

Apartments

Sales of apartment homes reached 1,338 in May 2024, a 22.7 per cent decrease compared to the 1,730 sales in May 2023. The benchmark price of an apartment home is $776,200. This represents a 2.2 per cent increase from May 2023 and a 0.3 per cent decrease compared to April 2024.

Attached Homes

Attached home sales in May 2024 totalled 523, a 14 per cent decrease compared to the 608 sales in May 2023. The benchmark price of a townhouse is $1,145,500. This represents a 5.2 per cent increase from May 2023 and a 0.9 per cent increase compared to April 2024.

REPORT courtesy of Stilhavn Real Estate Services

*For more specific neighbourhood statistics, get in touch. I would love to hear from you!

bridget@bridgetross.ca

604-805-6820

Metro Vancouver April 2024 Real Estate Update

Wed, 22 May 2024 14:52:24 GMT

In April, the number of homes listed for sale on the MLS® in Metro Vancouver1 saw a significant year-over-year increase, climbing by 42 percent to surpass the 12,000 mark. This level of inventory has not been observed in the region since the summer of 2020. The substantial rise in listings indicates a steady influx of available properties, showing increased seller activity and possibly a shift in market dynamics. This increase in listings may suggest a move towards a more balanced market between buyers and sellers.

Residential Home Sales:Greater Vancouver REALTORS® (GVR)2 reports that residential sales3 in the region totalled 2,831 in April 2024, a 3.3 per cent increase from the 2,741 sales recorded in April 2023. This was 12.2 per cent below the 10-year seasonal average (3,223).

“It’s a feat to see inventory finally climb above 12,000. Many were predicting higher inventory levels would materialize quickly when the Bank of Canada began its aggressive rate hikes, but we’re only seeing a steady climb in inventory in the more recent data. The surprise for many market watchers has been the continued strength of demand along with the fact few homeowners have been forced to sell in the face of the highest borrowing costs experienced in over a decade.” – Andrew Lis, REBGV director of economics and data analytics

Inventory:There were 7,092 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2024. This represents a 64.7 per cent increase compared to the 4,307 properties listed in April 2023.

This was 25.8 per cent above the 10-year seasonal average (5,637).

Home Price Data Analysis:The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,491, a 42.1 per cent increase compared to April 2023 (8,790).

This is 16.7 per cent above the 10-year seasonal average (10,704).

Metro Vancouver Home Sales by Property Type: Across all detached, attached and apartment property types, the sales-to-active listings ratio for April 2024 is 23.5 per cent. By property type, the ratio is 17.6 per cent for detached homes, 31.0 per cent for attached, and 26.0 per cent for apartments.

Detached: Sales of detached homes in April 2024 reached 814, a 0.7 per cent increase from the 808 detached sales recorded in April 2023. The benchmark price for a detached home is $2,040,000. This represents a 6.3 per cent increase from April 2023 and a 1.6 per cent increase compared to March 2024.

Apartments: Sales of apartment homes reached 1,416 in April 2024, a 0.2 per cent increase compared to the 1,413 sales in April 2023. The benchmark price of an apartment home is $776,500. This represents a 3.2 per cent increase from April 2023 and a 0.1 per cent decrease compared to March 2024.

Attached Homes: Attached home sales in April 2024 totalled 580, a 16 per cent increase compared to the 500 sales in April 2023. The benchmark price of a townhouse3 is $1,127,200. This represents a 4.3 per cent increase from April 2023 and a 1.3 per cent increase compared to March 2024.

For more neighbourhood specific information, feel free to reach out!

Bridget: 604-805-6820

What is Title Insurance and do you need it?

Mon, 13 May 2024 16:33:52 GMT

What is Title Insurance

Title insurance is an insurance policy that protects you, the home owner, against challenges to the ownership of your home or from problems related to the title to your home. The policy provides coverage against losses due to title defects, even if the defects existed before you purchased your home. A title defect is a problem with the title which prevents free and clear ownership. There are many types of defects such as rights of way, encroachments (from neighbouring properties), unpaid liens, etc.

Title insurance policies protect you for as long as you own the property. It protects against a number of risks that a solicitor's opinion on title may not cover. These risks include:

Fraud and forgery, including someone taking your title through fraud or forgery
Encroachments that would be disclosed by a new survey (for example, a neighbour's deck being partly on your land)
Easements (the right acquired for access to or over another person's property for a specific purpose, such as for a driveway or public utilities. This is referred to as "servitude" in the Province of Quebec) over the property that would be disclosed by a new survey
Zoning non-compliance (i.e. where the property use does not meet the local municipal by-laws)
Someone other than the home owner having interest (i.e. a previous owner of the property not being discharged from title)

How Do I Know if I Need Title Insurance?

If you are purchasing or refinancing your home, you should discuss title insurance with your lawyer/notary to see if a title insurance policy is right for you. Your lawyer/notary can arrange the purchase of a home owner's policy.

Benefits of Title Insurance

Comprehensive coverage

The policy can provide broader coverage than a solicitor/notary's opinion on title as well as post purchase fraud coverage.

Peace of mind

As the policy covers the items outlined above, you can rest easy knowing if there are defects affecting the title of your home that are covered by the title insurance policy, your title insurer will take steps to rectify the problem.

One time cost

The premium is usually due at the time of closing for purchases or refinances. Some insurers permit you to purchase title insurance at any time.

Buyers: Should You Always Get A Home Inspection?

Fri, 10 May 2024 20:15:15 GMT

The Importance of Home Inspections: What to Look for and Why

A home inspection is important when buying a home to avoid any potential surprise costs. A qualified professional will thoroughly examine the physical condition of a home to look for visible defects, wear and tear, code violations, and potential problems.

After the inspection, the inspector will provide a detailed written report summarizing the condition of the home. This report will help you understand the true condition of the property and highlight any repairs needed.

Typical issues found during inspections include cracked foundations, faulty wiring, water damage, and pest infestations.

We’ll explore what exactly home inspectors look for, and how to find a quality inspector.

What Does the Home Inspector Check?

Home inspectors examine all aspects of the property during the inspection. Here are some of the major features and systems they will evaluate.

Roof and Attic: Inspects roof age, condition, and remaining life; checks for leaks, ventilation issues, and water damage.
Exterior: Checks siding, paint, trim, windows, and doors for damage and wear. Examines flashings, eaves, and drain spouts for issues.
Foundation: Inspects visible foundation walls and structure for cracks or water damage.
Structural: Evaluates floors, walls, and ceilings for sagging, cracks, or unusual settling that can indicate structural issues.
Electrical: Checks condition of main panel and wiring; tests outlets, switches, and fixtures for functionality.
Plumbing: Checks water pressure, piping, fixtures for leaks and damage.
HVAC: Tests heating and cooling equipment; examines ductwork; ensures proper air flow.
Ventilation: Confirms adequate ventilation in bathrooms, kitchen, and attic to prevent moisture and condensation issues.
Appliances: Turns on major appliances to ensure proper operation.
Pest/Rot Damage: Checks for evidence of wood boring insects, termites, carpenter ants, and rodents. Inspects for fungus or mold.
Safety: Checks for presence of smoke detectors, CO detectors, proper railings, electrical hazards, potential trip points.

How to Pick the Right Home Inspector

Not all home inspectors are equal when it comes to knowledge and experience. Here are tips for choosing the best one:

– Ask local real estate agents for inspector recommendations, but also do your own research.

– Look for an inspector who has been in business for several years and has extensive experience in your area. They’ll be familiar with local homes.

– Look online for customer reviews and feedback about the inspector. Look for responsiveness and clear reports.

– Make sure the inspector provides a detailed written report. Never accept just a verbal overview.

Following up on Inspection Findings

Your next steps after the inspection depend on the findings:

Minor issues: Small repairs or flaws can be addressed by the seller before closing.

Deal breakers: Costly foundation repairs or extensive water damage may mean walking away from the property completely.

Second opinion: If an issue is unclear or you get conflicting estimates about the repair cost, consider getting a second inspection.

Regardless of the findings, it’s up to you to determine if the home still meets your needs and if the price accounts for necessary updates. Use the inspection to make an informed decision, not an emotional one.

If the home inspection uncovers issues, the realtor acts as a facilitator between the buyer and seller to negotiate potential solutions. This includes coordinating any follow-up inspections, repairs, or final walkthroughs. Reach out to one of our market-leading Realtors® today.

article courtesy of Stilhavn Real Estate Services

Have You Thought of Having an Energy Audit?

Tue, 30 Apr 2024 22:42:06 GMT

The world is shifting to become more aware of the impact we have as individuals on the environment. According to Statistics Canada, 76% of households composted either kitchen or yard waste in 2022, and in 2021, 97% of households reported using their own bags or containers when grocery shopping. But, there’s still work to be done, because on the flip side of things, Canadians generated 10.9 million tonnes of residential waste in 2020—the highest amount on record, according to Statistics Canada.

There are many ways you can be more sustainable at home, from small changes to larger considerations

Consider an energy audit

Finding ways to upgrade your home that are also energy efficient sounds like a no-brainer.

The federal and provincial governments (depending where you live) offer incentives to help with these changes, and the first step is an energy audit (also known as a home audit or energy assessment). Audits are even more important depending on the age of your home. Even a home built in the 1990s would benefit from an audit, as building codes have changed over the last 30 years.

What are the steps in an energy audit?

Pre-project assessment: where an assessor examines your home from top to bottom and provides you with reports on how your home is currently using energy, a list of recommended upgrades, as well as an EnerGuide label with your home’s efficiency score.
Post-project assessment: performed once you have completed the recommended upgrades. The assessor returns to do a new audit and to confirm the upgrades. You’ll receive updated reports as well as a rebate verification.

Once you’ve received the rebate verification you can apply for rebates. The Canada Greener Homes Program is available nationwide as a federal incentive program. Across the provinces and municipalities there are further incentives available which can be discussed with a registered energy advisor.

BC PROPERTY TRANSFER TAX CHANGES

Mon, 22 Apr 2024 20:08:21 GMT

Property Transfer Tax Exemption Changes

Property Transfer Tax is 1% on the first $200,000 and 2% thereafter up to $2M (higher PTT over $2M).

Prior to the change, PTT exemption for first time home buyers was up to $500,000, and a sliding scale from $500,000 to $525,000.

With the new rules there is the PTT exemption up to $500,000, However, any purchase from $500,000 to $835,000, we ignore the first $500,000 of purchase price. So it is the normal PTT minus $8,000.

For example, a first time home buyer purchases a property for $800,000. Normal PTT would have been $14,000 (1% on the first $200,000 and 2% thereafter). However, new rules would allow for a reduction in the PTT of $8,000, making total PTT equal to $6,000.

PTT Change on Newly Built Units from $750,000 to $1,100,000. This is for all owner occupied buyers, even if they are not first time home buyers.

*When it comes to taxes, always seek the advice of your account!

Should You Talk to a Mortgage Lender or Real Estate Agent First?

Tue, 16 Apr 2024 23:01:16 GMT

Before Purchasing a Home, Should You Talk to a Lender or Real Estate Agent First?

Ready to purchase a new home? Congrats – how exciting! Before you start house hunting, you may be wondering: should I contact a lender or real estate agent first?

Both play important roles in the home buying process. Lenders secure financing so you can afford the home. Agents help you find and purchase the perfect property. So, who should you turn to first?

Here we’ll compare the benefits of speaking to a lender vs. an agent first. We’ll also provide tips to help you decide the best plan of action for your situation.

Pros of Speaking to a Lender First

Starting with a lender has its advantages, like:

– Knowing your exact loan amount helps you to set a realistic budget.

– The ability to make stronger offers since sellers know you can secure financing.

– Locking in low interest rates promptly if they’re trending up. This prevents a higher rate later.

Cons of Speaking to a Lender First

Potential drawbacks include:

– Rates and loan programs can change if too much time passes after getting pre-approved.

– You may not have defined your home must-haves yet, making it harder for a lender to advise you.

– Lenders mainly cover financing, not the home search and purchasing process.

Pros of Speaking to an Agent First

Meeting with an agent first has advantages such as:

– Gaining insights on the local real estate market, inventory and pricing.

– Defining your needs and preferences for a home.

– Getting a head start on the search with listings matching your criteria.

– Viewing homes with an expert by your side.

– Receiving insights on neighborhoods, negotiations and competing offers.

Cons of Speaking to an Agent First

Some potential disadvantages include:

– Not knowing your budget without financing in place first.

– Potentially falling for a home before getting pre-approved, which leads to disappointment.

– Making an offer without a pre-approval carries less weight.

– An agent can’t explain mortgage options like a lender can.

Tips for Deciding

So, what’s the best plan of action for your situation? Here are a few tips:

If your timeline for purchasing is tight, or rates are trending up, go to the lender first to expedite financing and lock in lower rates. In highly competitive markets, lead with the lender as well – pre-approval makes your offers stronger.

If you’ve already defined your home must-haves, starting with an agent can get the search rolling quickly. However, if you need extra care throughout the buying journey, an agent may be the better choice.

Remember – you aren’t locked in your choice. You can always meet with the other shortly after! The key is starting somewhere to gain clarity.

Reach out any time if you would like more details about these choices and more!

Bridget (604-805-6820)

Article courtesyof Stilhavn Real Estate Services

B.C. Secondary Suite Incentive Loan Program

Mon, 08 Apr 2024 21:39:07 GMT

What is the Secondary Suite Incentive Program?

The Secondary Suite Incentive Program will help homeowners create affordable housing in their communities. The program will provide money to help homeowners create a new secondary suite on their property to be rented out for below market value.

Homeowners who qualify will receive up to 50% of the cost of renovations, up to a maximum of $40,000. The program will provide a rebate in the form of a forgivable loan—a loan that does not need to be repaid if the homeowner follows the terms of the program.

For the loan to be forgiven, the new unit must be located on the same property where the homeowner lives and must be rented out at below market rates, set by BC Housing, for at least five years.

Great opportunity if you are looking to update an old suite or add one to your current home.

Applications will be accepted starting on April 17, 2024

Reach out if you have any questions

Bridget

604-805-6820

bridget@bridgetross.ca

Why Parking and Storage Assignment is so Important

Wed, 03 Apr 2024 16:23:03 GMT

Parking and storage are often key considerations when it comes to strata living. Because of that, we’re looking at the different ways parking and storage can be designated within a strata corporation.

1. Why are Parking and Storage designations important?

It’s important to understand and be able to describe these concepts to consumers, as the rights they have to parking and storage can often impact their purchase decisions.

While buildings that were built in the 90s or earlier often came with more parking stalls and storage lockers than units, today we’re seeing many new strata developments that have less parking stalls and storage lockers than units, making these components that much more important and valuable.

2. Where can I find information about the Parking and Storage?

You can find information about a strata lot’s parking and storage on the Form B. It’s important to also verify this information on the Strata Plan or Parking Plan filed with the Land Title Office. We’ve come across many Form Bs that provided incorrect information.

3. What are the different ways Parking and Storage can be designated?

When it comes to parking stalls and storage lockers, there are 5 ways you’ll typically see them designated:

Forms Part of the Strata Lot - Often found in townhouses.
Common Property - The strata council grants permission to use a spot on a yearly basis, and while uncommon (especially if there are enough spots for each unit) can change or take the spot away.
Limited Common Property of a Strata Lot - The owner has exclusive use of a specific spot, and the designation can only be changed if the owners pass a unanimous resolution.
Limited Common Property for a Group of Strata Lots - Often found in sectioned stratas; the council or section executive grant permission to use a spot on a yearly basis and (like with a common property spot) can change or take the spot away.
Owner Developer Assignment (aka. Long Term Lease) - The parking and/or storage are subject to a long term lease associated with the strata lot; a copy of the master lease and assignment document(s) should be obtained from the sellers, as the strata corporation doesn’t usually get or retain copies.

Long term parking and/or storage leases can have significant implications for both buyers and sellers. Here’s an article from the BC Real Estate Association which provides a good example and cautionary note.

How To Compete in a Multiple Offer Situation

Mon, 25 Mar 2024 15:03:56 GMT

Competing in a multiple offer situation when buying a home can be challenging, but there are several strategies you can employ to increase your chances of success. Here are several ways you can compete effectively:

Offer a higher price: In a competitive market, offering a higher price than the listing price or the competing offers can make your offer more attractive to the seller. However, be sure to consider your budget and the value of the property to avoid overpaying.
Get a pre-approval letter from a reputable lender demonstrates to the seller that you are a serious buyer who is financially capable of purchasing the condo. This can give you an edge over other buyers who may not have secured financing. It can also allow you to leave out that condition in your offer. Allow your realtor to communicate with your mortage broker to confirm your budget.
Write a subject free offer. If the listing agent has all the property documents up front, you can read them before offer presentation time. You can also have a home inspection done prior to offer time as well.
Make a larger earnest money deposit: Increasing the earnest money deposit shows the seller that you are committed to the purchase and willing to put down a significant amount of money upfront. A larger deposit can make your offer more appealing and reassure the seller of your sincerity.
Write a personal letter to the seller: Sometimes, sellers are emotionally attached to their property and may be swayed by a heartfelt letter from a prospective buyer. Use the letter to introduce yourself, explain why you love the condo, and convey your excitement about the possibility of living there. Personalizing your offer in this way can help you stand out from other buyers.
If possible, give the seller the Completion and Possession dates they need to move on to their next property.

My job is to craft a contract that legally protects you as the Buyer, and negotiate on your behalf so that you have the opportunity to put your best offer possible in the multiple offer situation.

Should You Co-sign your Child's Mortgage?

Mon, 18 Mar 2024 21:01:26 GMT

In Canada, a co-signer on a mortgage is someone who agrees to be legally responsible for the mortgage payments if the primary borrower defaults. Mortgage with a co-signer can help a borrower qualify for a loan if they have insufficient credit history or income on their own. However, it's a significant financial commitment and carries risks for the co-signer.

A bare trust agreement, on the other hand, is a legal arrangement where a trustee holds property or assets on behalf of a beneficiary. In the context of real estate, a bare trust may be used for various purposes, such as holding property for the benefit of a minor child or managing property on behalf of someone who is unable to do so themselves.

If a parent co-signs their child's mortgage and the property is held in a bare trust, it means that the parent may have legal responsibility for the mortgage payments, but the property is legally owned by the child and held in trust by the parent as trustee. This arrangement can have implications for taxation, estate planning, and asset protection.

It's essential to consult with a legal and financial advisor to understand the implications of co-signing a mortgage and entering into a bare trust agreement, as these arrangements can have complex legal and financial consequences.

How Do You Choose a Realtor?

Mon, 04 Mar 2024 22:36:11 GMT

How to Choose a Real Estate Agent (For Buyers and Sellers)

When taking the first step on the path of buying or selling property, selecting the right realtor is a pivotal decision that can elevate your experience and outcome. Going above and beyond facilitating transactions, a top-performing realtor raises the bar in client-care, ensuring a smooth and successful journey. Here’s how to choose a realtor that’s a cut above the rest.

Tip 1: Look for a Relationship-Driven Approach

The heart of real estate isn’t just brick and mortar; it’s people. A relationship-driven realtor prioritizes your needs, preferences, and family and financial goals. They invest time in understanding your unique situation and are committed to building a lasting partnership. This is the kind of agent who will be by your side every step of the way, offering personalized advice and support. To find them, seek out testimonials that highlight the realtor’s dedication to fostering strong client relationships and delivering tailored service.

Tip 2: Evaluate Their Local Market Knowledge

A realtor with unparalleled local market knowledge provides an invaluable edge. They bring a market-leading understanding of the nuances of your specific area of interest, which is crucial whether you’re buying or selling. This insight can be the difference between an average deal and a great one. Inquire about their grasp of local trends, property values, and community dynamics. A top-performing realtor will demonstrate a depth of knowledge in local market trends, property laws, and the ability to accurately assess the value of properties in a particular neighbourhood.

Tip 3: Assess Their Communication Style

Communication is key in the real estate process. Your realtor should be readily available and willing to communicate in your preferred method, whether it be via phone, email, or text. They should keep you informed throughout the entire process and be proactive in addressing your concerns. A good realtor listens to your needs and communicates clearly and promptly.

Tip 4: Understand Their Niche Experience and Expertise

Experience in real estate can make a significant difference. An experienced realtor will have navigated their niche market conditions and dealt with many types of transactions. They bring a wealth of knowledge and a network of contacts in their real estate expertise, including potential buyers, sellers, and other industry professionals. However, don’t dismiss a newer realtor outright; they often bring enthusiasm and innovative approaches to their work. The key is to find someone who exhibits a strong understanding of the real estate process and demonstrates the skill to handle your specific needs.

Tip 5: Request a Strategy-Led Marketing Plan

In today’s fast-paced market, a strategic, well-executed marketing plan is essential. A top-performing realtor employs a strategy-led approach to marketing, ensuring that your property reaches the right audience. They utilize innovative tools and techniques, from virtual tours to social media marketing, to showcase your property effectively and make it stand out in the market. For buyers, a strategic plan means a more efficient search for the perfect home.

Closing Thoughts

Choosing a realtor who embodies these qualities can significantly raise the bar for your real estate experience. A top-performing, relationship-driven, and results-focused agent with unparalleled local insight and full-service capabilities will unquestionably exceed your expectations. The right realtor is more than an agent; they are your strategic partner in one of the most significant transactions of your life. Choose wisely, and the effort you put into selecting the best realtor for you will serve you well during your real estate journey and beyond.

Article courtesy of Stilhavn Real Estate Services

Why Should you Pay Attention to Lighting When You Stage Your Home?

Mon, 26 Feb 2024 21:13:29 GMT

When people get their homes ready to sell, they generally do some decluttering, deep cleaning and some minor renos/repairs.

However, I would like to add something that often gets missed and if done right, can help create beautiful photos and a wonderful atmosphere in your home for Buyers to see.

And that is lighting. Below is a list of types of lighting and you need a variety of these types to literally show your home in its best light!

What I would also add, which is equally important, is the type of light bulb you use -make it warm, soft daylight light, not operating room blinding white light.

Various types of lighting in a home serve different purposes and contribute to creating a well-balanced and functional environment. Here are some common types of lighting and their purposes:

Ambient Lighting:
- Purpose: Also known as general lighting, ambient lighting provides overall illumination to a room. It ensures that there are no dark corners and sets the overall mood for the space.
- Examples: Ceiling-mounted fixtures, chandeliers, track lights, and wall-mounted fixtures.
Task Lighting:
- Purpose: Task lighting is focused on specific areas where activities such as reading, cooking, or working take place. It helps to reduce eye strain and enhances visibility for detailed tasks.
- Examples: Desk lamps, under-cabinet lights in the kitchen, and reading lights.
Accent Lighting:
- Purpose: Accent lighting is used to highlight specific features or objects in a room, such as artwork, architectural details, or decorative elements. It adds drama and visual interest.
- Examples: Spotlights, track lighting with adjustable fixtures, and wall-mounted picture lights.
Decorative Lighting:
- Purpose: Decorative lighting serves both functional and aesthetic purposes, enhancing the overall design and style of a space. It can be a focal point in itself.
- Examples: Chandeliers, pendant lights, decorative lamps, and unique light fixtures.
Natural Lighting:
- Purpose: Natural lighting utilizes sunlight to illuminate a space. It provides a connection to the outdoors, enhances mood, and can save energy during daylight hours.
- Examples: Windows, skylights, and glass doors.
Mood Lighting:
- Purpose: Mood lighting creates a specific ambiance or atmosphere in a room. It's often used to evoke a particular feeling or to enhance the overall experience in a space.
- Examples: Dimmer switches, LED strips, and colored lights.
Cove Lighting:
- Purpose: Cove lighting involves hidden light sources to provide a soft, indirect glow. It adds depth and dimension to a room.
- Examples: LED strips installed in ceiling coves or recessed areas.

Using a combination of these lighting types allows for flexibility in adjusting the lighting levels based on different activities, moods, and times of day. A well-designed lighting plan considers the function of each space and incorporates a mix of ambient, task, and accent lighting for a comfortable and visually appealing home environment.

If you are unsure how to make all this work, I can help. One of my areas of expertise in my job is helping Sellers present their homes, yes, in their best light!

604-805-6820

bridget@bridgetross.ca

Greater Vancouver Market Update – January 2024

Mon, 12 Feb 2024 22:15:24 GMT

Metro Vancouver’s housing market was off to a strong start in the first month of 2024. The conditions began shifting back in favour of Sellers as the pace of new properties being listed did not keep up with the volume of home sales.

Residential Home Sales

The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales^ in the region totalled 1,427 in January 2024, a 38.5 per cent increase from the 1,030 sales recorded in January 2023. This was 20.2 per cent below the 10-year seasonal average (1,788).

“It’s hard to believe that January sales figures came in so strong after such a quiet December, which saw many buyers and sellers delaying major decisions. If sellers don’t step off the sidelines soon, the competition among buyers could tilt the market back into sellers’ territory as the available inventory struggles to keep pace with demand.” – said Andrew Lis, Director of Economics and Data Analytics at the REBGV.

Inventory

There were 3,788 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2024. This represents a 14.5 per cent increase compared to the 3,308 properties listed in January 2023. This was 9.1 per cent below the 10-year seasonal average (4,166).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 8,633, a 9.8 per cent increase compared to January 2023 (7,862). This is 0.3 per cent below the 10-year seasonal average (8,657).

Home Price Data Analysis

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,161,300. This represents a 4.2 per cent increase over January 2023 and a 0.6 per cent decrease compared to December 2023.

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2024 is 17.2 per cent. By property type, the ratio is 11.9 per cent for detached homes, 22.9 per cent for attached, and 19.9 per cent for apartments.

Detached

Sales of detached homes in January 2024 reached 379, a 28 per cent increase from the 296 detached sales recorded in January 2023. The benchmark price for a detached home is $1,942,400. This represents a 7.3 per cent increase from January 2023 and a 1.1 per cent decrease compared to December 2023.

Apartments

Sales of apartment homes reached 746 in January 2024, a 30.6 per cent increase compared to the 571 sales in January 2023. The benchmark price of an apartment home is $751,900. This represents a 4.4 per cent increase from January 2023 and a 0.1 per cent increase compared to December 2023.

Attached Homes

Attached home sales in January 2024 totalled 285, a 82.7 per cent increase compared to the 156 sales in January 2023. The benchmark price of a townhouse3 is $1,066,700. This represents a 4.3 per cent increase from January 2023 and a 0.6 per cent decrease compared to December 2023.

The Stilhavn Report

All stats are courtesy of the Real Estate Board of Greater Vancouver (REBGV).

*Areas covered by the Real Estate Board of Greater Vancouver include Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

^REBGV is now including multifamily and land sales and listings in this monthly report. Previously, we only included detached, attached, and apartment sales, and these additional categories, which typically account for roughly one to two per cent of total MLS® activity per month, are being included for completeness in our reporting.

Article courtsey of Stilhavn Real Estate

Interested in Investing in Real Estate?

Mon, 05 Feb 2024 18:58:16 GMT

Buying Investment Property in BC

Why British Columbia?

They say the West Coast is the Best Coast and British Columbia is undoubtedly one of the reasons why. BC isn’t just a province; it’s a promise of distinctly West Coast lifestyle. It’s where the Pacific Ocean meets rugged mountain ranges, where one can frolic on nature’s playground or just take in the scenery. For those looking to invest in real estate, BC offers more than just properties; it offers experiences.

The real estate market here is a unique blend of urban sophistication and natural landscapes. In a city like Vancouver with its vibrant vibe, opportunities to venture into real estate investing are as diverse as the city’s cultural mosaic. In these urban havens, every listing isn’t just a transaction but an invitation to Find Your Havn in a place where majestic mountains, abundant parks, and ocean breezes merge with diverse culture.

Meanwhile, the serenity of regions like the Okanagan and scenic spots like Whistler and Squamish, often referred to as the “Outdoor Recreation Capital of Canada”, provide a different kind of appeal. These places cater to nature enthusiasts who also yearn for sanctuary away from the city’s hustle and bustle, where a ‘home’ means waking up to vineyards, lakes, or mountain trails.

In short, investing in BC is not just about finding a property. It’s about discovering a place where your heart feels at home, where the saying “Welcome home” takes on a deeper meaning. It’s a curated collection of lifestyles, each uniquely appealing and promising unparalleled experiences.

Understanding the Market: Residential Investments

Diving into the British Columbia residential property market is akin to exploring an abundance of opportunities. From the vibrant streets of Metro Vancouver to the tranquil ambiance of the Okanagan, the province presents a rich palette of investment options.

In Metro Vancouver, the real estate market has its own rhythm. Any Vancouver Realtor would agree, the market here is dynamic, with neighborhoods varying from the hip and happening to the serene and scenic. This region, constantly buzzing with “new listing” and “just hit the market” offers something for every investor. Whether it’s a high-rise apartment overlooking the cityscape, or a cozy townhouse tucked away in a leafy suburb, the Vancouver property market is a cornucopia of choice.

Moving away from the city vibe, the Okanagan Valley offers a contrasting picture. Here, investment is synonymous with a lifestyle close to nature. Imagine owning a property surrounded by vineyards and lakes, where every sunrise is like a painting. The region’s growing reputation as a year-round destination makes it a smart choice for investors looking for properties with both seasonal appeal and long-term value.

But let’s not forget the adventure capitals of BC – Whistler and Squamish. These areas are magnets for those seeking a blend of thrill and tranquility. Investing here means tapping into a market fueled by tourism and outdoor recreation, with potential for both residential and Airbnb opportunities.

In BC, residential investment is more than just a financial decision. It’s a choice to be part of communities that are diverse and celebrated. Whether you’re a first-time home buyer or a seasoned investor, the market is primed to offer unparalleled opportunities that align with diverse goals and lifestyles.

Airbnb and New Bylaws: What You Need to Know

Navigating the waters of Airbnb investments in British Columbia can be tricky, but with the right knowledge, it’s entirely manageable and rewarding. Recent bylaws have reshaped the landscape for short-term rentals, particularly for areas like Whistler, Squamish, and the Okanagan.

In British Columbia, especially in tourism hotspots, Airbnb has transformed from a side hustle into a significant investment strategy. However, with great potential comes great regulation. New bylaws aim to balance the thriving tourist industry with the needs of local communities. In BC legislation has been enacted to give local governments stronger enforcement tools for their short-term rental bylaws, return short-term rentals to the long-term rental market, and establish a new Provincial role in regulating short-term rentals.

Whistler, known for its ski slopes and picturesque landscapes, has specific regulations that govern short-term rentals. These regulations ensure that the area maintains its charm and accessibility for both tourists and residents. In Squamish and the Okanagan, similar rules apply, with a focus on preserving the community feel while still capitalizing on the tourist appeal.

For investors, this means doing your homework is more crucial than ever. Understanding these bylaws is key to ensuring your investment doesn’t turn into an unexpected game of ‘Monopoly’. Investors need to be strategic and should consider factors like zoning regulations, licensing requirements, and community impact before diving into the Airbnb pool.

Moreover, it’s essential to stay updated as these bylaws are as ever-changing as the BC landscapes. Regular follow-up with your real estate expert and local authorities will keep you on top of this constantly evolving market. In the world of Airbnb investments, it’s not just about riding the wave; it’s about navigating it with the right strategy and profound insight.

Key Areas for Investment

Whistler: A Winter Wonderland Turned Investment Haven

Whistler is not just a skier’s paradise; it’s a goldmine for real estate investors. This world-renowned resort town, with its snow-capped mountains and vibrant village life, offers lucrative opportunities for both residential and Airbnb investments. Properties here are not just homes; they’re gateways to an enchanting lifestyle, attracting tourists year-round. The demand for short-term rentals, especially during ski season, makes Whistler a hot spot for those looking to cash in on British Columbia’s tourism boom.

Squamish: Where Outdoor Adventure Meets Real Estate Opportunity

Squamish, the outdoor recreation capital of Canada, is rapidly becoming a sought-after location for real estate investments. With its breathtaking scenery and endless adventure opportunities, from rock climbing to windsurfing, Squamish appeals to a growing demographic of outdoor enthusiasts. Investing in Squamish means tapping into a market that’s as dynamic as the town’s landscape, offering potential for both long-term residential rentals and vacation properties.

Okanagan: A Year-Round Retreat with Vineyards and Views

The Okanagan is British Columbia’s hidden gem, known for its sunny climate, stunning lakes, and world-class vineyards. The region offers diverse investment opportunities, from lakeside condos to vineyard estates. The Okanagan’s charm isn’t seasonal; it’s a year-round destination for tourists and a beloved home for residents. This unique blend makes it an ideal spot for investors looking for properties that offer both lifestyle and rental income potential.

Metro Vancouver: Urban Investment at its Finest

Metro Vancouver, with its cosmopolitan flair and robust economy, is the heart of BC’s real estate market. The area offers a spectrum of investment opportunities, from luxury downtown apartments to charming suburban homes. Investing in Metro Vancouver means being at the center of a bustling market, where each property is part of a “Curated collection” of urban living experiences. Whether for rental income
or capital appreciation, Metro Vancouver’s diverse neighborhoods cater to a wide range of investment strategies.

Each of these key areas in British Columbia brings its unique flavor to the real estate table, offering unparalleled opportunities to experience and invest in the Beautiful British Columbia for savvy investors and homeowners alike.

Making the Right Choice: Tips and Strategies

Investing in real estate, especially in a market as vibrant as British Columbia’s, can feel like navigating uncharted waters. Here are some tips and strategies to ensure your investment journey is smooth sailing.

Research is Key: Research the market data. From Metro Vancouver to the Okanagan, understanding local trends, property values, and future developments is crucial.
Consider Lifestyle and Investment Goals: Are you looking for a sanctuary away from the city’s hustle, or an elevated experience in urban living? Align your investment with your lifestyle aspirations and financial objectives.
Consult the Experts: Engaging with one of our top-performing real estate agents who are strategy-led and results-focused can be a game-changer. Their insights and knowledge about areas like Whistler or Squamish are invaluable. At Stilhavn, we understand the unique opportunities and challenges that our markets have to offer. Reach out to one of our market-leading Realtors® today.
Understand the Legalities: Especially with the new Airbnb bylaws, it’s vital to stay compliant. Ensuring your investment adheres to local regulations will save you from future headaches.
Plan for the Long Term: Real estate investment is often a long game. Think about long-term potential and sustainability of your investment, considering factors like community growth, infrastructure development, and market stability.

Welcome to Your Next Havn

As we’ve journeyed through the vibrant landscapes of British Columbia’s real estate market, one thing is clear: whether it’s the snowy peaks of Whistler, the windswept beauty of Squamish, the sun-drenched vineyards of the Okanagan, or the bustling streets of Metro Vancouver, BC offers a world of opportunities for the savvy investor or a current homeowner looking for their second property. Remember, investing here isn’t just about purchasing real estate; it’s about anchoring yourself in a community, a lifestyle, a dream. So, as you take the plunge into this exciting market, may you not just find a property, but also find your very own havn.

*Original article from Stilhavn Real Estate

Unlocking Savings for First-Time Homebuyers: The HBTC Advantage

Thu, 01 Feb 2024 16:35:35 GMT

Are you a first-time homebuyer eager to make the most of tax savings? Look no further than the First-Time Home Buyers' Tax Credit (HBTC) offered by the government. This incentive allows eligible individuals to save a substantial $1,500 on their taxes by simply claiming $10,000 on Line 31270 on their 2023 tax returns.

So, how can you ensure you qualify for this generous tax credit? Let's break down the criteria:

Property Purchase in 2023: To be eligible for the $1,500 tax savings, the homeowner (or their spouse/common-law partner) must have purchased a property in the year 2023.
No Previous Homeownership: The homeowner must not have resided in any other home, either within or outside Canada, that was owned by them or their spouse/common-law partner in the year of purchase or in any of the four preceding years. Essentially, if you haven't lived in a home that you or your spouse owned during this timeframe, you can confidently claim the HBTC by entering $10,000 on Line 31270.

Additionally, here are some noteworthy details to consider:

Sharing the Credit: The HBTC can be split between purchasers, allowing flexibility for couples or multiple individuals involved in the property purchase.
Persons with Disabilities: Individuals with disabilities have the option to apply for the HBTC more than once, providing an extra avenue for potential savings.
Claiming for Previous Years: If you missed out on claiming the HBTC in the past, don't worry. You can still unlock these savings by adjusting your previous tax returns. Simply use the My Account feature on the CRA online platform to make the necessary adjustments. It's worth noting that the claim amount was $5,000 for the year 2021 and previous years, showcasing the government's commitment to supporting first-time homebuyers.

In conclusion, the First-Time Home Buyers' Tax Credit is a valuable opportunity for eligible individuals to save on their taxes. By meeting the outlined criteria and taking advantage of the various provisions, you can maximize your savings and pave the way to financial success as a new homeowner. So, if you've recently purchased your first home or are planning to do so in 2024, make sure to explore the benefits of the HBTC – your path to $1,500 in tax savings awaits!

Let's chat about how we can make this work for you! Get in touch here.

TITLE INSURANCE - WHAT IS IT AND DO YOU NEED IT?

Mon, 29 Jan 2024 22:50:49 GMT

Title insurance protects the lender and homeowner against a number of risks related to the property’s title or ownership.

What started years ago as a replacement for a survey certificate has now become standard on real estate purchase or refinance transactions. If you are buying or refinancing your home, expect title insurance to be a requirement of your lender.

What does Title Insurance cover?

From the point of view of most lenders, the main coverage is fraud, which can occur in a variety of ways.

With identity theft on the rise, it is not difficult for a fraudster to obtain legitimate identification claiming to be the true owner. The fraudster then deals with realtors and lawyers as if they were the owner, and proceeds to sell the property. Alternatively, the fraudster may work with a lender or mortgage broker, again with identification, to place a new mortgage on the property. In either situation, the true owner is unaware of the fraud and the fraudster absconds with the sale or mortgage funds.

Other typical examples include spousal impersonation and lawyer fraud.

In most cases the Assurance Fund of the Land Title Office may reimburse the true owner, but this may take several months and thousands of dollars in legal fees. Title Insurance is usually quicker and less expensive.

In addition to protecting against title fraud, title Insurance can cover:

violations of municipal by-laws;
encroachments onto an adjoining property;
property tax arrears;
existing work orders;
lack of legal access to the property;
unpaid strata assessments;
zoning and setback non compliance;
forced removal by a governmental authority of a structure built without a required building permit;
legal status of any septic system;
gap coverage.

If your lawyer does not mention TITLE INSURANCE, take note and request it that it is included in your costs.

OPEN HOUSE: Saturday January 27th 2-4 PM

Fri, 26 Jan 2024 17:40:58 GMT

1795 Victoria Drive

East Vancouver

$1,599,000

3 bedrooms & 3 bathrooms

1397 sq. ft.

1 covered parking

Built in 2005

3 reasons to come and view this home:

*No maintenance fees

*air conditioning

*extensively renovated

Oh and no GST!

Come and see.

Tips for Winterizing Your Home

Thu, 25 Jan 2024 16:55:38 GMT

As substantial snowfall and freezing rain approach British Columbia, it becomes essential to prepare homes adequately for the winter season. Ready your home for extended periods of freezing temperatures to avoid increased energy costs and potential damage from cold weather and snow.

Begin with the fundamentals. Keep a snow shovel for your driveway and walkways to promptly clear snow after a snowfall, ensuring that outdoor spaces stay functional and safe without unnecessary delays. Severe winter conditions, including ice, wind, and snow, can lead to power outages. Be prepared to endure days without power. According to Emergency Preparedness B.C., have emergency supplies ready for at least two to seven days, charge all devices, and keep flashlights with extra batteries on hand.

The best ways to prepare your home for the winter:

Weatherproof Your Home
Inspect Your Heating System
Protect Your Garden and Exterior
Check for Energy Efficiency

Weatherproof Your Home

Maintaining proper home insulation during winter is crucial, impacting both comfort and energy efficiency. Reduced energy consumption benefits not only your finances but also the environment.

Seal gaps around doors and windows with weatherstripping, reducing the workload on heating and cooling systems, leading to energy savings and lower utility bills.

Install window treatments to trap heat inside, reducing the need for excessive heating and, consequently, lowering energy consumption and heating costs.

Before winter sets in, inspect your roof for damage. Colder months often bring snow and rain, and a damaged roof can allow water to penetrate your home. Checking for leaks or vulnerabilities ensures your roof is watertight, preventing water damage to your home's interior.

Inspect Your Heating System

Schedule a furnace inspection to ensure safe operation. Technicians can identify and address issues such as gas leaks, carbon monoxide leaks, or other potential safety hazards.

Efficiently program your thermostat to conserve energy, save costs, and enhance comfort. Adjust the temperature based on your daily schedule, avoiding unnecessary heating or cooling during periods of absence or sleep, resulting in reduced energy consumption.

As you'll likely use your fireplace more in winter for additional warmth, cleaning and inspecting the chimney ensures efficient operation, maximizing heat output and minimizing energy waste.

Protect Your Garden and Exterior

Clean gutters and trim trees to reduce the risk of ice dams and falling branches that could damage your home, vehicles, or property. Ice dams can form when snow accumulates on the roof, heat escapes from the interior, and the exterior temperature freezes.

Disconnect and drain outdoor faucets to prevent freezing and subsequent damage to the plumbing system. Water left in outdoor faucets during cold temperatures can freeze, causing pipes to expand and potentially burst.

Check for Energy Efficiency

Consider upgrading to energy-efficient windows and doors for benefits such as energy savings, improved temperature regulation, better insulation against noise, and reduced UV rays entering your home.

Properly seal ducts, a crucial component of a home's HVAC system, to retain heat, optimize heating system efficiency, and maintain better indoor air quality by preventing the infiltration of pollutants.

Lastly, schedule a home energy audit to gain insights into energy usage, identify inefficiencies, and make informed decisions to improve consumption. Professional auditors use specialized equipment to detect energy waste, such as drafts, air leaks, and insufficient insulation. Addressing these issues improves overall home efficiency.

For those considering selling, repairs, renovations, or upgrades enhance property functionality, market appeal, and potential resale value I am ready to guide you through your individual home-selling journey.

Lets connect!

*original article from Stilhavn Real Estate Services

Bridget Ross : Blog : Latest Blog Posts

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What I’m Seeing in 2026

So… Which One Is Right?

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Apartments

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Apartments

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Regional snapshots: planning from now to early January

For sellers: December prep, January launch

Outlook: December calm, January momentum

Presenting Homes When Light Is Limited

Regional snapshots: (seller-controlled checklists)

Metro Vancouver:

Sea to Sky: (Squamish & Whistler)

What it means for buyers

Stilhavn’s Take

Interest Rate Eases: Market Implications

Translation: relief, in practical terms

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What it means for you:

Where this shows up across BC (kept broad by design)

Outlook: a tailwind, not a whirlwind

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September Market Kickoff

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Metro Vancouver Real Estate Market Update – July 2025

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Inventory + Home Price Data Analysis

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