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Posted on
May 3, 2024
by
Hafez Panju
VANCOUVER, BC – May 2, 2024 – Actively listed homes for sale on the MLS® in Metro Vancouver1 continued climbing in April, up 42 per cent year-over-year, breaching the 12,000 mark, a number not seen in the region since the summer of 2020.
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...
Posted on
April 29, 2024
by
Hafez Panju
Spacious, Jr. 1 Bedroom Home
Rental & Pet Friendly
1 Bed, 1 Bath, 538 sqft
Priced at $479,000
Enjoy the peace & tranquility this area has to offer. Welcome to UniverCity at SFU, Vancouver's premier lifestyle neighborhood. This Jr. 1 bed, 1 bath, 538sqft home is located near the heart of the area in Fraser by Mosaic, a rental and pet friendly building. Perfect for investors, first time buyers, students & everyone in between. Features: excellent natural light, open layout, herringbone floors, over height ceilings, plenty of cupboard & counter space, SS appliances & in-suite laundry....
Posted on
April 15, 2024
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that a total of 6,460 residential unit sales were recorded in Multiple Listing Service® (MLS® ) systems in March 2024, a decline of 9.5 per cent from March 2023. The average MLS® residential price in BC in March 2024 was up 6.5 per cent at $1.02 million, compared to an average price of $958,051 in March 2023. The total sales dollar volume was $6.6 billion, a decrease of 3.6 per cent from the same time the previous year.
"March capped off a slow start to the first quarter of 2024," said BCREA Chief Economist Brendon Ogmundson....
Posted on
April 4, 2024
by
Hafez Panju
VANCOUVER, BC – April 3, 2024 – The number of Metro Vancouver1 homes listed for sale on the MLS® rose nearly 23 per cent year-over-year, providing more opportunity for buyers looking for a home this spring.
The Greater Vancouver REALTORS® (GVR)2 reports that residential sales3 in the region totalled 2,415 in March 2024, a 4.7 per cent decrease from the 2,535 sales recorded in March 2023. This was 31.2 per cent below the 10-year seasonal average (3,512).
“If you’re finding the weather a little chillier than last spring, you may find some comfort in knowing that the...
Posted on
April 2, 2024
by
Hafez Panju
Large Outdoor Space
2 Bed, 2 Bath, 849sqft
Open house: April 13th from 2-4pm
Priced at $598,800
Outdoor lover ALERT!!! Huge semi-private patio with direct access to your suite; perfect for gardeners & pet owners alike. This 2bed/2bath/849sqft home will not disappoint. Features: laminate flooring throughout, open concept plan, kitchen w/plenty of cupboard & counter space, breakfast bar, SS apps, gas stove & a cozy gas F/P. The large primary bed has nook space, ensuite w/soaker & walk-in closet. Benefit from a well sized 2nd bed. Located in Harmony, a rental & pet friendly complex...
Posted on
April 2, 2024
by
Hafez Panju
Studio Home w/ Patio
Efficient Layout
Open House: April 7th from 1-3pm
Priced at $389,000
Investor, student and first-time buyer alert! Excellent condition, nothing to do but move in. Located in Harmony, a rental & pet friendly building, this studio/1bath/408sqft home features: laminate floors throughout, an efficient floor plan, well-sized kitchen w/stainless apps, newer stove & microwave. Enjoy the spacious, partially covered, fully fenced patio; perfect for BBQs. Bonus: parking & built-in murphy bed included. Walk to: transit, campus, childcare, shopping, indoor/outdoor rec. &...
Posted on
March 18, 2024
by
Hafez Panju
Gorgeous, Endless Views
Penthouse Home
Open house: March 23rd, 2-4pm
Priced at $998,800
Stunning 270 degree water, mountain and city views from this gorgeous penthouse with 536sqft rooftop deck. Located in Terraces, a concrete hi-rise in UniverCity, SFU, Vancouver's premier lifestyle neighborhood. You don't want to miss this 2bed/2bath/1067sqft home! Features: open layout, excellent room separation, engineered floors, over-height ceilings, an abundance of light & 118sqft balcony. The large kitchen has SS apps, gas stove, plenty of cupboard & counter space & large island w/breakfast bar....
Posted on
March 15, 2024
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that a total of 5,497 residential unit sales were recorded in Multiple Listing Service® (MLS® ) systems in February 2024, an increase of 15.3 per cent from February 2023. The average MLS® residential price in BC in February 2024 was up 4.7 per cent at $987,798 compared to an average price of $943,574 in February 2023. The total sales dollar volume was $5.4 billion, an increase of 20.7 per cent from the same time in the previous year.
"The BC housing market is in a period of relative calm entering the spring," said BCREA Chief...
Posted on
March 4, 2024
by
Hafez Panju
VANCOUVER, BC – March 4, 2024 – While Metro Vancouver1 home sellers appeared somewhat hesitant in January, new listings rose 31 per cent year-over-year in February, bringing a significant number of newly listed properties to the market.
Greater Vancouver REALTORS® (GVR)2 reports that residential sales3 in the region totalled 2,070 in February 2024, a 13.5 per cent increase from the 1,824 sales recorded in February 2023. This was 23.3 per cent below the 10-year seasonal average (2,699).
“While the pace of home sales started the year off briskly, the pace of newly listed properties...
Posted on
February 23, 2024
by
Hafez Panju
Thank you to all my clients for your continued support and trust. Truly grateful and humbled to have been able to assist you with your real estate needs. Trust The Value.
2023 Year Achievements:
Royal LePage National Top 5%
Royal LePage Ruby Award Top 10% of all BC Agents
Royal LePage West Real Estate Services Top 10 (#7)
Greater Vancouver Realtors Medallion Award Top 10% of all agents
Posted on
February 13, 2024
by
Hafez Panju
Vancouver, BC – February 13, 2024. The British Columbia Real Estate Association (BCREA) reports that a total of 3,979 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in January 2024, an increase of 29.4 per cent from January 2023. The average MLS® residential price in BC in January 2024 was up 10.5 per cent at $957,909 compared to an average price of $866,922, the low-point for average prices over the past two years. The total sales dollar volume was $3.8 billion, an increase of 42.9 per cent from the same time in the previous year.
"Home sales...
Posted on
February 12, 2024
by
Hafez Panju
Thank you to my clients for your support and trusting me to assist you with your real estate needs.
Posted on
February 2, 2024
by
Hafez Panju
VANCOUVER, BC – February 2, 2024 – While the Metro Vancouver1 market ended 2023 in balanced market territory, conditions in January began shifting back in favour of sellers as the pace of newly listed properties did not keep up with the jump in home sales.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales2 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...
Posted on
January 26, 2024
by
Hafez Panju
Vancouver, BC – January 25, 2024. The British Columbia Real Estate Association (BCREA) released its 2024 First Quarter Housing Forecast Update today.
Multiple Listing Service® (MLS® ) residential sales in BC are forecast to increase 7.8 per cent to 78,775 units this year. In 2025, MLS® residential sales are forecasted to strengthen further, rising to 86,475 units.
"In 2023, the housing market faced headwinds due to elevated mortgage rates, but the recent decline in fixed mortgage rates and potential Bank of Canada rate cuts present an optimistic outlook for 2024," said Brendon...
Posted on
January 23, 2024
by
Hafez Panju
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening.
Global economic growth continues to slow, with inflation easing gradually across most economies. While growth in the United States has been stronger than expected, it is anticipated to slow in 2024, with weakening consumer spending and business investment. In the euro area, the economy looks to be in a mild contraction. In China, low consumer confidence and policy uncertainty will likely restrain activity....
Posted on
January 15, 2024
by
Hafez Panju
Vancouver, BC – January 15, 2024. The British Columbia Real Estate Association (BCREA) reports that 73,109 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2023, a 9.2 per cent decline from 80,506 units sold in 2022. The annual average MLS® residential price in BC was $971,144, a 2.6 per cent decrease from $996,943 recorded the previous year. Total sales dollar volume was $71 billion, an 11.5 per cent decline from 2022.
“The highest mortgage rates in over 15 years led to the slowest sales in a decade for BC,” said BCREA Chief Economist...
Posted on
January 2, 2024
by
Hafez Panju
VANCOUVER, BC – January 3, 2024– Metro Vancouver’s1 housing market closed out 2023 with balanced market conditions, but the year-end totals mask a story of surprising resilience in the face of the highest borrowing costs seen in over a decade.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales2 in the region totalled 26,249 in 2023, a 10.3 per cent decrease from the 29,261 sales recorded in 2022, and a 41.5 per cent decrease from the 44,884 sales in 2021.
Last year’s sales total was 23.4 per cent below the 10-year annual sales average (34,272)....
Posted on
December 14, 2023
by
Hafez Panju
Thank you to my clients for your support and business. Congratulations to my fellow colleagues.
Posted on
December 12, 2023
by
Hafez Panju
Vancouver, BC – December 12, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 4,630 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in November 2023, an increase of 2.2 per cent from November 2022. The average MLS® residential price in BC was $964,246 up 6.6 per cent compared to November 2022. The total sales dollar volume was $4.5 billion, representing an 8.9 per cent increase from last year.
“Despite high mortgage rates and generally weak sales, home prices across the province have been remarkably resilient...
Posted on
December 4, 2023
by
Hafez Panju
VANCOUVER, BC – December 4, 2023– With one month left in 2023, a steady increase in housing inventory is offering home buyers across Metro Vancouver1 among the largest selection to choose from since 2021.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential sales2 in the region totalled 1,702 in November 2023, a 4.7 per cent increase from the 1,625 sales recorded in November 2022. This was 33 per cent below the 10-year seasonal average (2,538).
“We’ve been watching the number of active listings in our market increase over the past few months, which...
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