604-224-5277 Toll Free: 1-855-760-6886
Presenting our clients' properties with greater detail and content than available on the MLS®.
Choose from tens of thousands of Lower Mainland homes with our unique MLS® search tool.
Get started with one of the predefined searches below:
Explore Luxury Real Estate Properties Worldwide. Our network includes over 140 Affiliated brokerages in more than 45 countries.
Photos, maps, videos, market statistics and more!Everything you need to know about these fantastic Vancouver area neighbourhoods.
Email your list of favourites and saved searches to your mobile device or share with friends!
Nine detached houses sold for less than $2 million each on the Westside of Vancouver in August, but the biggest news is likely that the erosion in benchmark prices in the prestigious market is apparently winding down. As of August, six of the 18 Westside neighbourhoods we monitor were seeing higher benchmark prices for detached houses, not only from a month earlier but as compared to three months earlier, an indication that a trend is developing. The big gainer in price was South Cambie, with benchmark prices up 3.5% from May at $3.09 million. In all, the benchmark detached house price on the Westside was $2.88 million in August, down just 0.5% from July and off 1.6% from three months ago.
A buyer might as well purchase an Eastside detached when one looks at all the options available in the Metro Vancouver residential market. If one considers potential appreciation, the flexibility provided by a detached house on a plot of land, the rental potential from a suite or a laneway house which is more widely allowed in Vancouver than anywhere else, the lack of strata fees and the simple cache of owning land and a house in the most desirable city in Canada, it looks quite tempting. And the numbers can make sense. For example, in August 4 buyers purchased a detached house in the Renfrew area – which has SkyTrain service – for a benchmark price of $1.2 million each, which is just slightly higher than the benchmark price of a townhouse on the Westside of the city. Say one of these Renfrew houses was a three-bedroom with a secondary suite that rents, based on Vancouver average one-bedroom rental rates, at $1,600 per month. With a 20 per cent down payment and being able to qualify under the mortgage stress test, it is possible to arrange five-year mortgage financing today at 2.87% (available even at major banks). The resulting mortgage payments, minus the rental income, could be lower than the cost of renting or buying a three-bedroom condominium or townhouse in most of Vancouver. As well, historically, Vancouver houses have appreciated in value higher and faster than strata units. Even after the downturn over the past two years, Eastside houses are still worth 50% more than they were five years ago.
Vancouver’s condominium apartment market began settling into a more balanced state in August, with 53% of the 601 new listings selling and the benchmark price stabilizing in 21 of the 33 individual neighbourhoods we monitor. In each of these the August benchmark price was higher than in the previous month. In all, the benchmark condo price on the Westside was $756,000. up 0.4% from July; while it was up 0.3% on the Eastside from a month earlier, at $552,300. The 319 buyers in August were active in nearly every neighbourhood and through a wide price range. Sixteen condos sold for less than $400,000, for instance, and 14 sold for more than $1.5 million.
5679 Newton Wynd,Vancouver West
Fawn Bluff,Bute Inlet
2606 – 2610 Marine Crescent,Vancouver West
6183 Carnarvon Street,Vancouver West
4572 West 3rd Avenue,Vancouver West
4661 Marguerite Street,Vancouver West
2454 West 13th Avenue,Vancouver West
1460 McRae Avenue,Vancouver West
4176 Crown Crescent,Vancouver West
1657 W King Edward Avenue,Vancouver West
3707 West 37th Avenue,Vancouver West
2588 Courtenay Street,Vancouver West
2868 West 35th Avenue,Vancouver West
4437 Huxley Avenue,Burnaby South
17809 Whitfield Road,Okanagan
611 Shaw Avenue,Coquitlam
3700 Partridge Road,Okanagan
505 N Kootenay Street,Vancouver East
“The Legacy” – 2968 Birch Street,Vancouver West
2440 Gammon Road,Okanagan
2-2838 Birch Street,Vancouver West
3353 Monmouth Avenue,Vancouver East
615 Shaw Avenue,Coquitlam
4196 Staulo Crescent,Vancouver West
255 N Dollarton Highway,North Vancouver
786 – 3311 Ketcheson Road,Richmond
104-997 West 22nd Avenue,Vancouver West
516-6033 Gray Avenue,Vancouver West
12787 Stave Lake Road,Mission
26 -7333 Turnill Street,Richmond
1701-4638 Gladstone Street,Vancouver East
204-1515 West 2nd Avenue,Vancouver West
783 Martin Street,Okanagan
113 – 9299 Tomicki Avenue,Richmond
Lot Q 739 Highland Road, Roberts Creek,Sunshine Coast
310-10880 No. 5 Road,Richmond
“Olea” Camana Bay, Grand Cayman Island,Grand Cayman Island
Our Real Estate Listings
Our Real Estate Blog
Head Office: 1838 West 1st Avenue Vancouver, B.C V6J 1G5 Fax: 604-224-5279 Email: firstname.lastname@example.org
Marketing Services: 101 - 2930 Arbutus Street, Vancouver, BC V6J 3Y9
Our Real Estate Affiliates
Copyright © 2020 Faith Wilson Realty Group Inc.