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bettyfricker.com

March 2020 Issue
604-762-8428
Betty Fricker Personal Real Estate Corporation
March newsletter

Hello Friend

Welcome to my newsletter. Here you will find the latest real estate news and stats for your area. If you would like more information about market conditions in your community, or have any other real estate related questions, please contact me. I would be happy to meet with you to see how I can help you out.

Betty Fricker Personal Real Estate Corporation
Betty Fricker Personal Real Estate Corporation
Personal Real Estate Corporation
One Percent Realty Ltd.
604-762-8428
bettyfricker.com

REBGV Stats – February 2020

Steady demand and low supply benefits home sellers

February saw steady home buyer demand and reduced home seller supply across Metro Vancouver.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,150 in February 2020, a 44.9 per cent increase from the 1,484 sales recorded in February 2019, and a 36.9 per cent increase from the 1,571 homes sold in January 2020.

Last month’s sales were 15.6 per cent below the 10-year February sales average.

“Home buyer demand again saw strong year-over-year increases in February while the total inventory of homes for sale struggled to keep pace,” Ashley Smith, REBGV president said. “This was most pronounced in the condominium market.”

There were 4,002 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2020. This represents a 2.8 per cent increase compared to the 3,892 homes listed in February 2019 and a 3.4 per cent increase compared to January 2020 when 3,872 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,195, a 20.7 per cent decrease compared to February 2019 (11,590) and a 6.7 per cent increase compared to January 2020 (8,617).

“Our Realtors are reporting increased traffic at open houses and multiple offer scenarios in certain pockets of the market. If you’re considering listing your home for sale, now is a good time to act with increased demand, reduced competition from other sellers, and some upward pressure on prices,” says Smith.

For all property types, the sales-to-active listings ratio for February 2020 is 23.4 per cent. By property type, the ratio is 17.3 per cent for detached homes, 26.9 per cent for townhomes, and 28.4 per cent for apartments.

Generally, analysts say 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.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,020,600. This represents a 0.3 per cent increase over February 2019 and a 2.7 per cent increase over the past six months.

Sales of detached homes in February 2020 reached 685, a 52.9 per cent increase from the 448 detached sales recorded in February 2019. The benchmark price for a detached home is $1,433,900. This represents a 0.7 per cent decrease from February 2019 and a 1.9 per cent increase over the past six months.

Sales of apartment homes reached 1,061 in February 2020, a 39.8 per cent increase compared to the 759 sales in February 2019. The benchmark price of an apartment property is $677,200. This represents a 0.9 per cent increase from February 2019 and a 3.6 per cent increase over the past six months.

Attached home sales in February 2020 totalled 404, a 45.8 per cent increase compared to the 277 sales in February 2019. The benchmark price of an attached home is $785,000. This represents a 0.6 per cent increase from February 2019 and a 1.7 per cent increase over the past six months.
 

Click here for the full report

3 Tips for Quicker Spring Cleaning

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With the first day of Spring just over the horizon, it’s time for—you guessed it—spring cleaning! Whether you love or hate this annual chore, here are the top tips for getting it done in record time.

Make a Plan
A surefire way to speed things up is to start with a proper plan. Create a checklist so that you a) know when each thing is done, b) can plan the work around your schedule, and c) get the satisfaction of checking things off.

Declutter First
Some people like to declutter as they go, but it’s best to get this done first. If there’s less in your home, there’s less to clean.

Set Yourself Up for Success
Use spring cleaning as a time to set cleaning habits for the year ahead. Use your spring cleaning plan or checklist to define quick tasks you can complete regularly throughout the year and lessen the workload for next year’s spring clean.

Local Events

Friday Night Magic Tournament
Port Coquitlam, BC
March 20, 2020
Spring Break Movie: Abominable
Port Moody, BC
March 25, 2020
Paint Nite: Whimsical Tulipcoqu
Coquitlam, BC
March 25, 2020

Latest Featured Listings

Open House Mar 21 (2-4pm)
An image of MLS ID: R2444774

R2444774 Central Meadows / R2444774

$449,000
1 Bathrooms 921 Sq Ft
Just Listed
An image of MLS ID: R2441599

AMAZING SOUTHEAST VIEW OF MOUNT BAKER Coquitlam West / R2441599

$599,900
2 Bedrooms 2 Bathrooms 704 Sq Ft
An image of MLS ID: R2441183

Great purchase for first time buyer Sapperton / R2441183

$310,000
1 Bedrooms 1 Bathrooms 618 Sq Ft
An image of MLS ID: R2435585

A great INVESTMENT/HOLDING property Connaught Heights / R2435585

$1,560,000
5 Bedrooms 2 Bathrooms 1,902 Sq Ft
An image of MLS ID: R2432177

Own a home in popular and luxurious Viceroy Uptown NW / R2432177

$495,888
1 Bedrooms 1 Bathrooms 656 Sq Ft
Sold
An image of MLS ID: R2411556

Backing onto forested GREEN SPACE! Albion / R2411556

$529,000
3 Bedrooms 3 Bathrooms 1,268 Sq Ft
An image of MLS ID: R2403283

‘Val Maria’ Mobile Home Park Southwest Maple Ridge / R2403283

$83,900
2 Bedrooms 2 Bathrooms 720 Sq Ft
View more listings

Real Estate Board of Greater Vancouver

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Steady demand and low supply benefits home sellers

February saw steady home buyer demand and reduced
home seller supply across Metro Vancouver*.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,150 in February 2020, a 44.9 per cent increase from the 1,484 sales recorded in February 2019, and a 36.9 per cent increase from the 1,571 homes sold in January 2020.

Last month’s sales were 15.6 per cent below the 10-year February sales average.

Click here for the full report

Port Moody

There are 146 homes for sale right now, with an average list price of $1,394,274.
An image of MLS ID: R2444605

949 Blackstock Road, Port Moody, BC North Shore Pt Moody / R2444605

$579,900
3 Bedrooms 2 Bathrooms 1042 Sq Ft
An image of MLS ID: R2444369

# 14 65 Foxwood Drive, Port Moody, BC Heritage Mountain / R2444369

$599,000
2 Bedrooms 3 Bathrooms 1295 Sq Ft
An image of MLS ID: R2444376

# 315 400 Klahanie Drive, Port Moody, BC Port Moody Centre / R2444376

$629,000
2 Bedrooms 2 Bathrooms 962 Sq Ft
View more listings

This is not intended to solicit properties currently listed for sale or individuals currently under contract with a brokerage. All information was current on Mar 16, 2020.


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