VANCOUVER, CANADA SELLERS AWAIT BUYERS' RETURN AFTER QUIETER SUMMER MARKET Home sales registered on the MLS® in Metro Vancouver remained below their ten-year seasonal averages in August as summer holidays come to a close. Greater Vancouver REALTORS® (GVR) reports that residential sales in the region 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). “From a seasonal perspective, August is typically a slower month for sales than June or July. In this respect, this August has been no different,” Andrew Lis, GVR’s director of economics and data analytics said. “With that said, 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.” 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). 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). 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. “Buyers’ hesitancy to enter the market, paired with new listing activity on the part of sellers that is in line with historical averages, has allowed inventory to accumulate for a number of months and has moved the market firmly into balanced conditions,” Lis said. “With the Bank of Canada’s decision to reduce the policy rate today by another quarter percentage point, and with September being a month that typically sees an increase in sales from a seasonal perspective, the fall market is set up to bring more buyers off the sidelines. We will watch the upcoming September data to see whether they decide to show up.” The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,195,900. This represents a 0.9 per cent decrease over August 2023 and a 0.1 per cent decrease compared to July 2024. 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. 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 a 0 per cent decrease compared to July 2024. 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.

  Introducing Parksville 96: Your New Place in Surrey, BC      Developer: Darshan Co. Nearest SkyTrain Station: King George SkyTrain Station Neighbourhood: Surrey City Centre Completion: Winter 2028 Address: 9611 140th Street, Surrey, BC   Introducing Parksville 96, a stunning 34-storey luxury tower by Darshan Co., poised to redefine the skyline of Central Surrey.    Located just minutes from King George SkyTrain Station, shopping areas, transit options, parks, and recreational spaces.    With breathtaking 360-degree views, Parksville 96 features a range of condominiums and townhomes designed for modern city life.   FEATURES AND PRICE INFO Parking and Storage: A six-level underground parking garage will offer storage for 732 bicycles and stalls for 383 vehicles, including 38 for visitors, 8 accessible spots, and 6 commercial areas. Home Sizes: Select from condominium floor plans ranging from 377 to 1,474 sq ft, with the largest options, plans PH7, PU26, and PU31, featuring 2 bedrooms.  For townhouses, floor plans are available from 1,200 to 1,500 sq ft, offering configurations from Jr. 3 beds to Jr. 3 beds + flex. Variety Homes: Choose from studio to 3 bedroom layouts to fit your preferences.  Floor Plans: Studio from $390,900 Jr 1 Bedroom from $409,900 1 Bedroom from $516,900 1 Bed + Den / Jr 2 Bedroom from $624,900 2 Bedroom from $766,900 3 Bedroom Townhomes from $999,900 Deposit Structure: $10,000 on signing - top up to 5% due 60 days after acceptance 5% due 120 days after previous deposit Final 5% due on Building Permit & Financing Elevated Kitchens: Each kitchen is equipped with Italian-made Bertazzoni appliances: 24" Fully Integrated Refrigerator Panasonic Microwave & Trim Kit Quartz countertops 24" / 30" Glass Induction Cooktop with touch controls 24" Fully Integrated Dishwasher 24" / 30" Convection Wall Oven INDOOR AMENITIES Enjoy the ground-level indoor event space with a kitchen, a games room complete with a golf simulator, and a children's playroom. On Level 7, you'll find party rooms, a wellness center, and a co-working space. Plus, two guest suites! OUTDOOR AMENITIES Unwind in the west-facing courtyard, complete with an outdoor reading nook for kids, a dog run, picnic tables, and a pergola-covered dining area with a barbecue.  Explore the inviting outdoor spaces featuring firepit lounges, dining tables with barbecues, a community garden, a children's play area, and a raised exercise deck.  Be sure to visit the rooftop lounge, which offers a variety of social spaces, including cafe seating, fire pits, and a games area with billiards or ping pong. LOCAL AMENITIES Parksville 96 is situated right next to over 450 acres of Urban Forest at Green Timbers, with the future SkyTrain less than 100 meters away.  Enjoy uninterrupted views and a convenient location, just a 20-minute walk to Surrey Memorial Hospital, the future UBC campus, SFU Surrey, and Surrey Central. Plus, you're only a 5 to 10-minute drive from Costco, Walmart, Brown Social House, and Chuck Bailey Recreation Centre. SCHOOLS Parksville 96 is located within School District 36, with nearby schools such as: Simon Cunningham Elementary School and Queen Elizabeth Secondary School, both just 5 minutes away.  Sprott Shaw College and SFU Campus are conveniently nearby.   Discover the perfect balance of urban living and peaceful forest vibes at Parksville 96, where city dwellers can unwind and recharge in nature while enjoying the comforts of their own neighborhood!

Welcome to The Grove: Your New Home in Coquitlam     Developer: Foster Living Nearest SkyTrain Station: Burquitlam Station Neighbourhood: Burquitlam (West Coquitlam) Completion: Summer 2026 Address: 639 Aspen Street, Coquitlam, BC   Introducing, The Grove, a collection of 49 townhomes in Burquitlam by Foster Living, nestled among tree-lined streets in Burquitlam.   This peaceful community is just moments away from Burquitlam’s urban center and the SkyTrain station, connecting you to Port Moody Waterfront, Lougheed Town Centre, and downtown Vancouver.   FEATURES AND PRICE INFO Parking and Storage: An underground parkade offers storage for 91 bicycles and parking for 68 vehicles. Each home includes one parking stall with electric vehicle (EV) charging options.  Home Sizes: Choose from spacious floor plans ranging from 1,093 to 1,861 sq ft. The largest options, Plans F and G, offer three bedrooms and separate parking areas.  Variety Homes: Select from 1 to 3 bedroom layouts to fit your needs.  Floor Plans: Plan A: 1,093 sq ft | 2 bed + den, 2 bath | $1,015,000 Plan B: 1,165 - 1,174 sq ft | 3 bed, 2.5 bath | $1,118,000 Plan D: 1,185 sq ft | 2 bed + den, 2.5 bath | $1,118,000 Plan F: 1,393 - 1,454 sq ft | 3 bed, 2.5 bath | $1,288,000 Plan G: 1,617 - 1,861 sq ft | 3 bed + den, 2.5 bath | $1,398,000 Deposit Structure: $5,000 Bank Draft upon written contract Increased to 10% deposit within a 7-day recission Final 5% due 12 months from the contract date Modern Kitchens: Each kitchen is equipped with stylish Euro-line appliances: 36" counter-depth fridge (30" for Plans A and C) Dishwasher 30" gas range cooktop Multi-function wall oven Extra Storage: Various storage units are available for your convenience. Flex Space: Each home features a below-grade flex room of up to 350 sq ft, ideal for a home office, gym, a movie theater, or extra storage.  OUTDOOR SPACE Relax in the common area with shaded dining, a kids' play space, a lawn, and a community garden. Don't miss the landscaped spot at Foster Avenue and Aspen Street, featuring a trellis-covered bench.  LOCAL AMENITIES The Grove is close to the Bettie Allard YMCA, Cottonwood Park, and Burquitlam Station, all within a 10-minute walk. Burquitlam Plaza offers shops like Bjorn Bakery, Saku Korean Cuisine, and Safeway. Plus, you're just a 5-minute drive from Costco, Walmart, and Coquitlam Centre. SCHOOLS The Grove is part of School District 43, with nearby schools such as: Roy Stibbs Elementary School and Port Moody Secondary School, both just 5 minutes away.  Douglas College and SFU are also conveniently close.   Experience comfortable living at The Grove, perfect for families, where community and convenience come together!

VANCOUVER, CANADA BUYERS REMAIN CAUTIOUS TO BEGIN THE FALL MARKET Home sales registered on the MLS® in Metro Vancouver declined 3.8 per cent year over year in September, suggesting recent reductions in borrowing costs are having a limited effect in spurring demand so far. Greater Vancouver REALTORS® (GVR) 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). “Real estate watchers have been monitoring the data for signs of renewed strength in demand in response to recent mortgage rate reductions, but the September figures don’t offer the signal that many are watching for,” Andrew Lis, GVR’s director of economics and data analytics said. “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.” There were 6,144 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) 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). 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). 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. “With some buyers choosing to stay on the sidelines, inventory levels have sustained the healthy gains achieved over the course of this year, providing much more selection to anyone searching for a home,” Lis said. 'With all this choice available, prices have trended sideways for the past few months. The September figures, however, are now showing modest declines across all segments on a month over month basis. This downward pressure on prices is a result of sales not keeping pace with the number of newly listed properties coming to market, which has now put the overall market on the cusp of a buyers’ market. With two more policy rate decisions to go this year, and all signs pointing to further reductions, it’s not inconceivable that demand may still pick up later this fall should buyers step off the sidelines.” The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,179,700. This represents a 1.8 per cent decrease over September 2023 and a 1.4 per cent decrease compared to August 2024. 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. 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 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.