For Buyers

41st & Alberta – Availability, Prices, Plans

Artist rendering of 41st & Alberta by iFortune.

At a Glance

  • outstanding Cambie Corridor location
  • 51 condos with 1-3 bedrooms
  • three 1,405 sq ft townhouses
  • upscale shopping & services nearby at Oakridge Centre
  • walking distance to Canada Line
  • near Queen Elizabeth Park
  • goal of LEED Gold standard

41st & Alberta by iFortune as viewed from the southeast.

Cambie Corridor Convenience
Just steps from Oakridge, Vancouver’s most stylish shopping centre, pick up your groceries at Kin’s Farmers Market or Safeway, find household items at Crate and Barrel, browse upscale shops and boutiques for the latest fashion, or find professional services from banking to medical services to telecom providers. Cross the street to find the ideal wines for entertaining at Vancouver’s largest Signature BC Liquor Store. Queen Elizabeth Park’s beautiful manicured gardens are a mere stroll away, or let the Canada Line whisk you downtown to enjoy its endless entertainment offerings. The less time you spending driving is more time to spend with your loved ones.

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Pricing for 41st & Alberta  Continue Reading…

August 2017 Real Estate Board of Greater Vancouver Statistics Package with Charts & Graphs

Condominium sales drive August activity

VANCOUVER, BC – September 5, 2017 – Competition for condominiums and townhomes
pushed Metro Vancouver* home sales above typical levels in August.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
the region totalled 3,043 in August 2017, a 22.3 per cent increase from the 2,489 sales recorded
in August 2016, and a 2.8 per cent increase compared to July 2017 when 2,960 homes sold.
Last month’s sales were 19.6 per cent above the 10-year August sales average.

“First-time home buyers have led a surge this summer in demand in our condominium and
townhome markets,” Jill Oudil, REBGV president said. “Homes priced between $350,000 and
$750,000 have been subject to intense competition and multiple offers across the region.”

There were 4,245 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in August 2017. This represents a 1.1
per cent decrease compared to the 4,293 homes listed in August 2016 and a 19.2 per cent
decrease compared to July 2017 when 5,256 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver
is 8,807, a 3.5 per cent increase compared to August 2016 (8,506) and a 4.2 per cent decrease
compared to July 2017 (9,194).

For all property types, the sales-to-active listings ratio for August 2017 is 34.6 per cent. By
property type, the ratio is 16.3 per cent for detached homes, 44.8 per cent for townhomes, and
76.3 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below
12 per cent for a sustained period, while home prices often experience upward pressure when it
surpasses 20 per cent over several months.

“Conditions in our detached home market are distinct today from the dynamic in our
condominium and townhome markets,” Oudil said. “Detached homes have entered a balanced
market. This means there’s less upward pressure on prices and that buyers have more selection to
choose from and more time to make their decisions.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $1,029,700. This represents a 9.4 per cent increase over August 2016 and
a one per cent increase compared to July 2017.

Sales of detached properties in August 2017 reached 901, a 26 per cent increase from the 715
detached sales recorded in August 2016. The benchmark price for detached properties is
$1,615,100. This represents a 2.2 per cent increase from August 2016 and a 0.2 per cent increase
compared to July 2017.

Sales of apartment properties reached 1,613 in August 2017, a 20.1 per cent increase compared
to the 1,343 sales in August 2016. The benchmark price of an apartment property is $626,800.
This represents a 19.4 per cent increase from August 2016 and a 1.7 per cent increase compared
to July 2017.

Attached property sales in August 2017 totalled 529, a 22.7 per cent increase compared to the
431 sales in August 2016. The benchmark price of an attached unit is $778,300. This represents a
12.8 per cent increase from August 2016 and a 1.9 per cent increase compared to July 2017.
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*Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast,
Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody,
Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.

The real estate industry is a key economic driver in British Columbia. In 2016, 39,943 homes changed ownership in
the Board’s area, generating $2.5 billion in economic spin-off activity and an estimated 17,600 jobs. The total dollar
value of residential sales transacted through the MLS® system in Greater Vancouver totalled $40 billion in 2016.

July 2017 Vancouver Real Estate Statistics with Charts & Graphs Courtesy of REBGV

Metro Vancouver sees fewer home sales and more listings in July

Home buyer activity returned to more typical summer levels in Metro Vancouver last month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,960 in July 2017, an 8.2 per cent decrease from the 3,226 sales recorded in July 2016, and a decrease of 24 per cent compared to June 2017 when 3,893 homes sold.

Last month’s sales were 0.7 per cent above the 10-year July sales average.

“Housing demand is inconsistent across the region right now. Pockets of the market are still receiving multiple offers and others are not. It depends on price, property type, and location,” Jill Oudil, REBGV president said. “For example, it’s taking twice as long, on average, for a detached home to sell compared to both townhomes and condominiums.”

There were 5,256 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2017. This represents a 0.3 per cent increase compared to the 5,241 homes listed in July 2016 and an 8.1 per cent decrease compared to June 2017 when 5,721 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,194, a 10.1 per cent increase compared to July 2016 (8,351) and an eight per cent increase compared to June 2017 (8,515).

“Because home sale activity decreased to more historically normal levels in July, the selection of homes for sale in the region was able to edge above 9,000 for the first time this year,” Oudil, said.

For all property types, the sales-to-active listings ratio for July 2017 is 32.2 per cent. By property type, the ratio is 16.9 per cent for detached homes, 44.9 per cent for townhomes, and 62 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,019,400. This represents an 8.7 per cent increase over July 2016 and a 2.1 per cent increase compared to June 2017.

Sales of detached properties in July 2017 reached 949, a decrease of 11.9 per cent from the 1,077 detached sales recorded in July 2016. The benchmark price for detached properties is $1,612,400. This represents a 1.9 per cent increase from July 2016 and a 1.5 per cent increase compared to June 2017.

Sales of apartment properties reached 1,468 in July 2017, a decrease of 8.4 per cent compared to the 1,602 sales in July 2016. The benchmark price of an apartment property is $616,600. This represents an 18.5 per cent increase from July 2016 and a 2.7 per cent increase compared to June 2017.

Attached property sales in July 2017 totalled 543, a decrease of 0.7 per cent compared to the 547 sales in July 2016. The benchmark price of an attached unit is $763,700. This represents an 11.9 per cent increase from July 2016 and a 2.4 per cent increase compared to June 2017.

June 2017 Real Estate Board of Greater Vancouver Statistics Package with Full Charts

Demand for condominiums continues to outstrip supply

 

The imbalance between supply and demand in the condominium market is creating home buyer competition across Metro Vancouver.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,893 in June 2017, an 11.5 per cent decrease from the 4,400 sales recorded in June 2016, an all-time record, and a decrease of 10.8 per cent compared to May 2017 when 4,364 homes sold.

Last month’s sales were 14.5 per cent above the 10-year June sales average.

“Two distinct markets have emerged this summer. The detached home market has seen  Continue Reading…

The Grande at Suter Brook Village – Plans, Pricing, Availability

The Grande at Suter Brook Village by Onni Group.

At a Glance

  • award-winning master-planned community
  • 26-storey concrete tower
  • 1-, 2-, and 3-bedroom condos
  • 18,000 sq ft Health & Fitness Club
  • steps to Evergreen Line Inlet Centre Station
  • near plaza with 100,000 sq.ft. of retail
  • close to 185,000 sq. ft. of office space

Urban Elegance & West Coast Beauty
The last development in Port Moody’s award-winning Suter Brook Village, this sophisticated 26-storey tower offers 1-, 2-, and 3- bedroom homes with 9′ over-height ceilings, ranging from 600 to over 2,100 sq.ft. Cook up a storm in your chef’s kitchen with fully-integrated European appliances, composite stone countertops and double undermount stainless steel sink. Ease into your days and nights in elegant bathrooms with frameless glass-enclosed showers, spa-inspired soaker tubs, custom soft-close cabinets and marble tiled NuHeat floors. Stay cool all summer long thanks to the integrated energy efficient heating and cooling system keeping things comfortable year-round.

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A vibrant social centre. A multi-cultural hub. There’s something to be said for having everything you need right around the corner. Suter Brook Village is an all-encompassing neighbourhood situated on 22 acres of land in idyllic Port Moody, offering all of life’s daily conveniences at your doorstep. You’ll be connected to an energized community where urban elegance collides with natural West Coast beauty. You can also travel with ease: just steps to the new Evergreen Line Inlet Centre Station, the West Coast Express, and minutes to highways in either direction, The Grande links residents to the rest of the Lower Mainland.

Pricing for The Grande at Suter Brook Village  Continue Reading…

May 2017 Real Estate Board of Greater Vancouver Statistics Package with Full Charts & Graphs

Market activity picks up in May

Home buyer activity returned to near record levels across the Metro Vancouver housing market in May.

Residential property sales in the region totalled 4,364 in May 2017, a decrease of 8.5 per cent from the 4,769 sales in May 2016, an all-time record, and an increase of 22.8 per cent compared to April 2017 when 3,553 homes sold.

Last month’s sales were 23.7 per cent above the 10-year May sales average and is the third-highest selling May on record.

“Demand for condominiums and townhomes is driving today’s activity,” Jill Oudil, Real Estate Board of Greater Vancouver (REBGV) president said. “First-time buyers and people looking to downsize from their single-family homes are both competing for these two types of housing.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,044 in May 2017. This represents a 3.9 per cent decrease compared to the 6,289 units listed in May 2016 and a 23.2 per cent increase compared to April 2017 when 4,907 homes were listed.

The month-over-month increase in new listings was led by detached homes at 27.1 per cent, followed by apartments at 22.7 per cent and townhomes at 14.1 per cent.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 8,168, a 5.7 per cent increase compared to May 2016 (7,726) and a 4.5 per cent increase compared to April 2017 (7,813).

“Home buyers are beginning to have more selection to choose from in the detached market, but the number of condominiums for sale continues to decline,” Oudil said.

The sales-to-active listings ratio across all residential categories is 53.4 per cent. By property type, the ratio is 31 per cent for detached homes, 76.1 per cent for townhomes, and 94.6 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“While sales are inching closer to the record-breaking  Continue Reading…