Greater Vancouver Real Estate News from The Pearce Team June 2017   

 
Smart homes are making our lives easier, safer and more comfortable.  This month’s article highlights some of the latest trends that help provide homeowners greater convenience and control over their daily lives.

There are also some examples of how a strategically placed water feature can evoke feelings of peace and relaxation in your garden as well as a few tips on how to clean your washing machine.

Thanks so much for checking out this month's newsletter.  Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

The Pearce Team

In this issue...
The Greater Vancouver Real Estate Market Report 
Vancouver home sales returned to near record levels in May.

Residential property sales in the region totalled 4,364 in May 2017, a decrease of 8.5% from the 4,769 sales in May 2016, which was an all-time record, and an increase of 22.8% 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.”

"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 number of sales compared to number of 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 experience upward pressure when it surpasses 20 per cent over several months.

“While sales are inching closer to the record-breaking pace of 2016, the market itself looks different. Sales last year were driven by demand for single-family homes.  This year, it's clear that townhomes and condominiums are the way,” said Oudil.  “It’s important to work with your local REALTOR® to understand the different factors affecting the market today.”

Locally in Maple Ridge    

Sales of detached houses for May were 161 which is a 25% decrease over last May while the number of houses for sale increased by 10%. The average price for the month of May was $855,818 compared to last years May of $750,831. This represents the average price increase this May of 13%  over last May. Average sale price year to date is $794,648 which is 7% higher than last years $738,339.
  

Sales of  townhouses for May were 73 which is an 15% increase over  last May while the number of townhouses for sale is 45 which is a decrease of 45% over last year. The average price for May is $477,177 compared to last years May of $420,847. This represents an average price increase of 13% over the last  12 months. Average sale price year to date is $461,826 which is an incease over last years by 22%

  

Sales of condos for May were 54 which is a 8% decrease over last May while the number of condos for sale is 45 which is a decrease of 50% over last year. The average price  this May is $305,721 compared to last years May of $226,613. This represents an average price increase of 34% .  Average sale price year to date is $289,427 which is an incease over last years by 25%

  

The Pearce Team Crystal Ball   

The current uncertain political enviroment may cause our market to hesitate. When the Liberals introduced the "Foreign buyers Tax" last July we saw a substantial drop in activity and avarage selling prices dropped by 10-15%. Our market has just recovered to the same level it was at when the tax was introduced. If we see a NDP and Green agreement which may result in a 30% "Foreign buyer Tax" we may see a similar result. The market is still short of inventory for the number of Buyers that are in the market looking to buy. We are still seeing multiple offers on properties and the average selling price of all types of housing is up in all areas. As long as demand is outstripping supply we will see continued price increases.
  

 Interactive graphs

 Average sale price Real Estate Board of Greater Vancouver last 11 years  

Detached house -  http://statscentre.rebgv.org/infoserv/s-v1/h1us-NlU

Townhouse - http://statscentre.rebgv.org/infoserv/s-v1/h1uE-bt5

Condo - http://statscentre.rebgv.org/infoserv/s-v1/h1u8-tLA

Average sale price Maple Ridge for last 11 years 
  

Detached house -  http://statscentre.rebgv.org/infoserv/s-v1/h1uU-h4S

Townhouse - http://statscentre.rebgv.org/infoserv/s-v1/h1uN-pWc

Condo - http://statscentre.rebgv.org/infoserv/s-v1/h1Am-3NU

*** If you save these links somewhere convenient you will able to check on a monthly basis for the new months information. A new month is added to the right side of the graph and the old month is removed from the left side the first of every month. If you want a personal graph for your area or type of property just call or email.


Home Is Where the Smart Is 
Smart home technology is continuing to grow at a rapid rate!

Smart home technology has gone from basic security to smart windows that open and close based on the weather and indoor air temperature.  Here’s a look at a few smart home innovations that will revolutionize our lives:

  1. Connectivity is King - The connected home is a huge theme this year that features connected appliances, smoke alarms, lightbulbs and doorbells.

  2. Talk to Me - There’s a huge focus on voice activated products around the home including voice controlled garbage cans, air purifiers and fridges.

  3. Home Help - Robots are being used to offer companionship for seniors and there’s also an innovative, lifesaving cane that sends out an alert in the event of an emergency.

  4. Laundry Lackey - Washing machines that can do multiple loads at once will save us valuable time and there’s even a machine in the works that will fold the laundry!

  5. Breathe Easy - Sensors can monitor your indoor air for Co2, VOCs, allergens and humidity levels and they’ll also be able to expel bad air and introduce clean air to your home.

  6. Robot Cleaners - With intelligent visual navigation, app control and powerful suction that cleans in corners, you’ll never need to push a vacuum again!

Smart home technology is always improving and it’s a major selling point because the higher your home's IQ, the higher the resale value will be!  Who knows what the future will bring but one thing’s for sure; smart home technology can provide you and your family convenience and peace of mind.

Soothe Your Soul with a Water Feature 
Bring new life to your outdoor space by creating a peaceful paradise.

Imagine relaxing after a stressful day at work and unwinding on a backyard lounger while listening to the sound of flowing water.

Your backyard’s the perfect place to take a break from the hectic pace of everyday life, and the addition of a water feature will help transform your garden into an oasis of tranquility, give it a beautiful focal point and may well increase the value of your home.

Water features also create an environmentally friendly haven for wildlife such as frogs, birds and butterflies.  There are a wide variety of solar powered fountains to choose from and by utilizing the sun's rays, you'll lower your electricity bills and won't get tangled up in cords.

Water attractions can be as simple or complex as your budget allows, ranging from a simple tabletop fountain to a full-scale babbling brook.  Safety of course should be a concern if you have small children and if you plan on digging, make sure to contact the utility companies.

It's important to spend a bit of time during the planning stage to ensure your water feature will integrate with your landscape and environment and then once you’ve finished implementing your new water feature, find a comfortable seat, close your eyes and imagine yourself in paradise.

Aboriginal Day Celebration 
June 24 from 10:00 am - 2:00 pm
Memorial Peace Park  -  224 Street & McIntosh Avenue

In recognition of National Aboriginal Day on June 21, the 8th annual Aboriginal Day Celebration will feature the unique heritage, diverse cultures and outstanding achievements of our First Nations, Inuit and Metis people. Traditional dance, music and ceremonial blessings, a Bannock cook-off, a farmer’s market, community displays, Aboriginal games, crafts and interactive activities bring people of all ages together for an exciting community gathering in Memorial Peace Park. The event is organized by the Fraser River all Nations Aboriginal Society (FRANAS) in collaboration with the City.

Canada Day Celebration My Canada, My Maple Ridge 
July 1 from 10:00 am - 7:00 pm
Memorial Peace Park  -  224 Street & McIntosh Avenue

Maple Ridge celebrates our national holiday and Canada’s 150th by bringing together many thousands of citizens and visitors for a summer festival and ceremony in downtown Memorial Peace Park. The colour guard party leads a parade into the park at the start of the formal protocol ceremony and awards presentations. There will be three stages presenting arts, culture, music and dance! Lots of exciting activities and family fun including a Farmer’s Market, a fire department community barbeque, children’s games, informative community displays and family friendly recreation activities. Make it a memorable Canada 150th day and night by joining us for the finale with Canadian music and the biggest birthday sing-along.

Washing the Washing Machine 
If your washing machine is giving off a musty smell, it’s time for a wash!

Washing the washing machine may seem strange but over time, soap scum and bacteria build up in front loading washing machines which creates a musty smell.

Start by cleaning the rubber door gasket with white vinegar and water.  Next, mix ¼ cup of baking soda with ¼ cup of water and add it to the detergent compartment, then pour 2 cups of vinegar in the drum and run an empty load at the hottest setting.

Clean your washing machine every month to keep it in tip top shape.  If you leave the door open between loads, promptly remove laundry as soon as the load has finished and don’t use too much detergent, you’ll help keep your washing machine fresh and clean.



PS

 

 We have ALL the MLS listings on our site, no need to go anywhere else.   Sit back, relax and let us do the work for you! Just visit www.ThePearceTeam.com and use our preset searches in $50,000 increments for Maple Ridge & Pitt Meadows. If you want to be more specific use the "other communities feature". Either way, save your search and whenever a home matching your criteria hits the market, it'll be automatically emailed to you so you'll never have to worry about missing your dream home. Go to www.ThePearceTeam.com  to get started. Our site is a virtual office so if you sign up as a member (no obligation)  then the MLS information you receive will be current to the minute with twice the detail ( room sizes, time on market, previous prices, etc). SEE IT FIRST ON OUR SITE!! Sites like realtor.ca and mls.ca have a built in 24 to 48 hour delay on all their listings. Use our Google maps interface to get a  "birds eye" view of the listing and of the neighborhood. Check out the amenities in the area with the "walk to" score. If English is not your first language then use the translate feature on the home page. Want a feature that is not there, give us a call or email and we will see if we can add the feature. We look forward to hearing from you.

Not meant to solicit clients already under contract.