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

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.

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

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!

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.

   

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

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.

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

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.

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.

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 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

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!

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

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

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:

1. Standardized Test Scores: Many regions publish standardized test scores for public schools. These can provide insight into how well students are performing academically.

2. 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.

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

4. 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.

5. 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!

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.

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 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

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.

Article courtesy of Stilhavn Real Estate Services

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.

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 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

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.

Article courtesy of Stilhavn Real Estate Services