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What are they going to buy?
It is once again...hot out there!

No new supply! Let’s talk about what effect this actually has on the market when supply isn’t part of the equation in dealing with the dynamics of our housing market, because affordability definitely isn’t one of the benefits of no new supply. Similar to how the real estate market was acting in the fall, this month multiple offers were happening in the market, except at a much higher occurrence. In fact, Paige and I competed for several condos in multiple offers in Yaletown that generated 15+ offers in December. This week, we checked out 2 east side agents open houses (a house and a condo) - it was pure insanity with at least 100 people there and that 2016 feeling of frenzy. It’s become the norm not the exception so far in 2020 and to no surprise for those tracking market activity. With condos and townhouses seeing the bulk of these, it is now creeping into the detached housing market – especially below $1.5M. And why? Supply. There isn’t enough. The number of homes available for sale has dropped significantly and is continuing to do so. And with the pent-up demand jumping into the market, we see these multiple offers.
 
There were 1,602 homes sold of all types in Greater Vancouver in January this year compared with 2,046 homes sold last month, 1,120 sales in January last year and 1,846 homes sold in January 2018. Sales in January were 9% below the 10-year average for the month of January but only 4% below the 10-year average if the 2,574 sales from January 2016 were excluded (a significant anomaly from what we typically see in January.) The number of sales in January were 43% higher compared to January 2019, continuing the trend of strength in the real estate market with January being the seventh straight month or year over year increases for the month.
 
Some highlights from January:
  • The number of sales in Richmond in January were up 88% compared to January of last year with townhouses leading the way up 152% year over year.
  • The number of detached homes currently listed in Vancouver are down significantly – there are 528 Westside houses available – the lowest amount since December 2016; on the East Side there are 39% less houses available compared to January 2019 and the lowest level since March 2016
  • There are 15 townhouses available in Port Moody from a peak of 64 in June 2019; 39 townhouses available in Port Coquitlam from a peak of 102 in April 2019; 85 townhouses available in Coquitlam from a peak of 194 in June 2019 – with similar patterns in other areas for townhouses
  • In Port Moody, there are a total of 122 residential properties available compared to the peak of 266 in June 2019
  • Average prices for condos in the majority of areas in Greater Vancouver dropped in January showing the strength and demand in the lower end of the market as lower priced properties are selling (Average prices are a calculation based on the total dollar volume of sales and the number of homes sold)
  • All residential sales in New Westminster were down 33% compared to January 2019 – the one area that saw a decline in the number of homes sold year over year in January.
The number of homes for sale in Greater Vancouver continued actually declined at the end of January compared to the end of December, which has only happened twice since 2005 and occurred during years of stronger sales at the turn of the Century. At the end of January there were 9,307 homes for sale in Greater Vancouver, and at the end of December there were 9,309, and a decrease from the 11,427 homes for sale at the end of January 2019 thereby reducing the month’s supply of homes in some markets down to 3 to 4 months – a seller’s market. Multiple offers have been very prevalent throughout Metro Vancouver, and in all segments of the market. With some sales occurring well above list price and above where properties have been priced through the fall. There were 3,993 new listings during January in Greater Vancouver, down 20 per cent from January last year. The number of new listings in January were 19% below the 10-year average for the month of January and 17% below the average for January going back to 1992. Considering how many more homes there are available to be sold in Greater Vancouver compared to 1992 (which saw 5,621 homes listed in January), the trend is certainly for homeowners to hold on to their homes and not sell – likely a function of policy aimed at controlling demand. And as that demand continues to increase with more people moving to Metro Vancouver and pent up demand coming forward, the question is: what are they going to buy?
What is new?
 
3280 S.W. Marine Drive | $4,488,000
OPEN HOUSE SATURDAY FEBRUARY 8TH 3-5PM
 

  WHY WE ❤️ THIS HOME
1. 11,425 SQFT South Facing Estate
2. 5 Bedrooms Up; 1 bedroom down
3. 5,400 SQFT Family Home
4. Backyard completely set up for Southern California entertaining - pool, fireside lounge area, cabana, hot tub and dining space
5. Fully renovated in 2007

Family is everything and this is where your family belongs. Located on an expansive lot (66' x 172'), this stunning home has everything you need and want! After entering a long driveway and private garden you will find the perfect entertaining space. Picture a large foyer, office, living room, dining room, open kitchen, eating area and family room, deck all on the huge main floor. Up you will find 5 generous bedrooms (or 4 and a den) and 3 ensuite baths. Downstairs - your kids will never leave the lower level! There is a media room, bar/kitchen and rec room that all open up to a California style outdoor space. This south facing quiet sunny backyard includes a pool, cabana, ping pong area, hot tub, covered eating area, outdoor living room with a gas fireplace and lovely landscaping creating a private oasis. Have we convinced you?


Penthouse #5 238 W. Broadway | $2,050,000
OPEN HOUSE SUNDAY FEBRUARY 9TH 2-4PM




WHY WE ❤️ THIS HOME
1. Penthouse Living
2. Concrete Building
3. Private Deck to enjoy the Fireworks and a glass of wine
4. 3 bedrooms and 3 full bathrooms
5. In suite pantry PLUS a storage locker
6.  Shared gardening space - grow your own food / herbs
7. Steps to EVERYTHING Vancouver offers
8. VIEWS, VIEWS, VIEWS


WOW! This 3 bedroom and 3 bath renovated Penthouse is the one you have been looking for. This home has beautiful finishings, great layout and a private roof deck with BBQ and fire pit plus stunning mountain and city views. Renovations include a bespoke Citation kitchen, Air Conditioning, and heated washroom floors. A pantry, extra storage, 3 decks, 2 parking and a locker are some of the extra special features. Come see this rare Penthouse in Citti on Broadway and explore the cafes, shopping, parks, access to transit and the False Creek Seawall. This is the one.
 

Why Stage your home?
 
Staging shows how each room has a purpose
 
Staging shows a bed can fit in a bedroom as it is often hard to imagine.
Staging gives buyers a good first impression.
Staging often makes a home feel larger.
Staging helps buyers see themselves in the home.
Staging gives the impression of a well maintained home.
Staging helps you justify your asking price.
Staging will increase the likelihood of a sale of your home.
Research shows you can get as much as 4 times the return on your investment when you stage your home. We have some great recommendations for local companies who can elevate your home with a few great touches - call us.


Choir!Choir!Choir!

  
Daveed Goldman and Nobu Adilman (AKA “DaBu”) started Choir! Choir! Choir! as a weekly drop-in singing event in February 2011.

Equal parts singing, comedy, and community-building, the night unfolds like a dream: you get a lyric sheet at the door, DaBu teach you the vocal arrangement, and a video is recorded. Everyone has a ball and goes home feeling great!

Two weeks ago, Choir!Choir!Choir! sold out at the Vogue Theatre, but now they are back at this fundraiser and you have another chance to attend. For tickets click here and call soon as we are almost SOLD OUT!

 


 

Our 4th Pillow Talk event exceeded RSVP capacity in less than 24 hours this year. It is going to be a busy night! We are excited to see everyone return, to hear the latest from our new set of speakers, to laugh, giggle, learn and leave inspired. Next month watch for contact information on all the inspiring speakers, the vendors, the chefs, the designers, charity wonders, the entrepreneurs and more!
 
 

 
Turners Dairy

This is the reinvention of a turn-of-the-century industrial building that will remain inextricably linked to Mount Pleasant and its classical Vancouver roots and aesthetic.

Now, a new generation of urban dwellers will create their own stories within these spaces. Some buyers are considering combining 2 units to create their own unique space! Ask us how.

  • Now 12 Townhouses
  • Ranging in size from 826SF to 1871SF
  • 1 to 3 bedroom units
  • Walk out deck space
  • parking, storage and bike storage
  • rentals & pets allowed
  • Lighting by Matthew McCormick & ANDLighting
  • Built by: ETRO Construction
  • Designed by: AirStudio Architects
 

Romeo & Juliet


Ballet BC will be presenting Medhi Walerski's Romeo + Juliet at the Queen Elizabeth Theatre from March 4-7. In response to unprecedented demand and sold out performances for the world premiere, Ballet BC has returned to this iconic story set to Sergei Prokofiev’s stunning score. Artfully crafted by Medhi Walerski, an original voice in international dance and incoming Artistic Director at Ballet BC, his innovative retelling of the full-length classic brings together dazzling scenes woven with unpredictable and complex imagery. Get tickets by clicking below!
  
6309 Macdonald St.

NEW PRICE!! 

60' x 133' SW Lot
 
       3280 SW Marine Dr.
     Huge Lot & Beautiful         66' X 172'


     
 
3175 Point Grey Rd 
The views are mesmerizing

3000 Valdez Place 
Oak Bay | Uplands
 
13...now 12 Town Homes Available to buy Now!
 
Turners Dairy
Progressive meets
Heritage
P5 238 W. Broadway
Penthouse & 3 decks
Close to everything!
6225 Macdonald St.
This is THE Koolaid House!
2 bed & 2 bath
Downtown Living
South Granville Home
Amazing 84'x142' Lot

Things to Try
 




Care Packages


Who doesn't love care packages?
My childhood best friend and I started
a tradition of sending both
our college bound daughters
- care packages. For Valentine's Day,
I extended it to a few extra College Kids.
It's old fashioned but cute!

Want to win this stunning 
Bottega Veneta 
Pouch Clutch?


Only 1,000 tickets will
be sold. 
$20/each or 3 for $50
Draw will be at
the Saints Fair
May 2nd
To buy tickets
text: Stacie 604 340-3499
or Susanne 778 238-2434


A Birthday Experiment

In the months leading up to my 50th birthday, I fantasized about how I might celebrate it…

On Sundays, while chopping onions for dinner, I allowed my daydreams to go rogue, admittedly fueled by a little white wine and the blasting soundtrack of my 80s adolescence. I envisioned a tour across Japan. A tangle of chunky necklaces. A choreographed flash mob in which I danced with everyone I’d ever known, in chronological order. Read more...

ruthie@ruthieshugarman.com

604.879.2941

604.263.1144

604.263.6699

Dexter Realty

South Granville

#560 - 2608 Granville St.

Vancouver, BC.   V6H 3V3







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Ruthie Shugarman · 2094 West 43rd Ave · Vancouver, BC V6M 2C9 · Canada

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