Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |


I have sold a property at SPH 1 200 Nelson's CRES in New Westminster.
The Sapperton, the first of four residential towers, is located in the vibrant Brewery District community in historic Sapperton. The 15 storey tower includes 1, 2 & 3 bed homes featuring flexible floorplans with 5 full size appliances incl 5 burner gas stove, undermount sink, quartz counters and recessed lighting. A 10,000 sq ft multi-storey amenity centre offers a gym, squash court, yoga/dance studio, sauna and steam room. Plus a 1,000 sq ft rooftop terrace for all your entertaining needs - bbq, fireplace, dining and lounge areas. Ideal location with shops, cafes and restaurants at your doorstep and the Sapperton Skytrain only 250 meters away. Occupancy Feb/Mar 2017.

Some good news for the Canadian economy this morning as Statistics Canada reported manufacturing sales increased 1.2 per cent in December, the second consecutive monthly advance.  Sales were led higher by gains in the motor vehicle, wood product and chemical product industries. However, for all of 2015, manufacturing sales were down 1.5 per cent, posting the first annual decline since 2009, as a result of falling manufacturing output in the energy sector. 

In BC, where the manufacturing sector employs approximately 170,000 people, sales rose 0.7 per cent on a monthly basis but were down 3.2 per cent compared to December 2014.  For all of 2015, BC manufacturing sales rose 1.7 per cent.

Copyright British Columbia Real Estate Association. Reprinted with permission.


Vancouver, BC – Februay 12, 2016.


The British Columbia Real Estate Association (BCREA) reports that a total of 5,831 residential unit sales were recorded by the Multiple Listing Service® (MLS®) last month, up 33.2 per cent from January of last year. Total sales dollar volume was $4.39 billion in January, up 69.1 per cent compared to the previous year.


The average MLS® residential price in the province was up 26.9 per cent year-over-year, to $752,906. “The BC housing market continues to build on momentum from a very strong 2015,” said Brendon Ogmundson, BCREA Economist. “Heightened demand is being met with the lowest level of supply in a decade, resulting in increased pressure on prices in much of the province.”


The housing market has seen a blistering start to 2016, with housing demand supported by low mortgage rates and rising employment and wage growth in the province. However, MLS® residential sales are forecast to edge lower this year. Total MLS® sales last year were the third highest on record at 102,517. A record 106,310 residential unit sales were recorded in 2005, while the only other year eclipsing 2016 were 2007 when 102,805 unit sales were recorded.



Copyright British Columbia Real Estate Association. Reprinted with permission.


Employment in Canada was essentially unchanged in January with the total number of employed Canadians dipping by 5,700 people. The national unemployment rate edged slightly higher from 7.1 to 7.2 per cent while the total number of hours worked, which is closely correlated with GDP growth, was up 1.2 per cent over the past 12 months.

In BC, employment grew by a modest 1,200 job to break a string of two consecutive months of monthly job losses. Full-time employment was up an impressive 10,700 jobs while part-time work declined by 9,500. The provincial unemployment rate fell 0.1 points to 6.6 per cent. 

In the US, payrolls growth in January came in below expectations, rising by 151,000 jobs, well below the nearly 300,000 jobs per month pace of the past three months. The US unemployment rate edged down 0.1 points to 4.9 per cent.   

Copyright British Columbia Real Estate Association. Reprinted with permission.


I have sold a property at 104 10455 University DR in Surrey.
ELEGANT, CONVENIENT and AFFORDABLE, this one bedroom, one bathroom has so much to offer. Strategically located within 5 minutes walking distance of all amenities: Surrey Central Skytrain, Surrey Central Shopping Mall, SFU Surrey, Public Lib rary to just name a few. The city life is never boring: stop by Central City Brewery beside the shopping mall to build your own burger, and enjoy it with a sip of locally brewed beer; have some Chinese food that is available until midnight; or stay in to grill your own meal on the patio with your family. A chic city life in an elegant unit at an affordable price. A must see!!

I have sold a property at 102 10455 UNIVERSITY DR in Surrey.
LOCATION! Location! This "loft-style", 423 s.f. Jr 1 bedroom condo in D'Cor is ideally located in Surrey's high-growth City Centre neighbourhood. 1 block to Surrey City Hall & Library. 2 blocks to Surrey Central Skytrain, North Surrey Rec Centre, banks, grocery stores & city parks. 3 blocks to Surrey SFU, Central City Shopping Centre, pubs, dining, etc. Features incl. over-height ceilings, laminate & ceramic tile flooring + in-suite laundry. D'Cor has a proactive strata council & its amenities include a gym and a Party room. 1 parking stall & 1 locker. This condo is in excellent condition and ALL FURNISHINGS are included! Perfect to move right in or as an INVESTMENT property as rentals are allowed. 1 cat or 1 dog (under 44 lbs) allowed. OPEN HOUSE: Sun. Jan 24, 2:30-4 pm.

Home buyer activity remains at near record levels across the Metro Vancouver housing market.

Residential property sales in Greater Vancouver totalled 2,519 in January 2016, an increase of 31.7 per cent from the 1,913 sales recorded in January 2015 and a 10.9 per cent decline compared to December 2015 when 2,827 home sales occurred. Last month’s sales were 46 per cent above the 10-year sales average for the month and rank as the second highest January on record. “Fundamental economics are driving today’s market. Home buyer demand is at near record heights and home seller supply is as low as we’ve seen in many years,” Darcy McLeod, REBGV president said.


New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,442 in January 2016. This represents a 6.2 per cent decline compared to the 4,737 units listed in January 2015 and a 119.8 per cent increase compared to December 2015 when 2,021 properties were listed. “The MLS® is the most powerful real estate marketing system in the country. If you’re thinking of selling, it’s important to talk with your REALTOR® about putting your home on the MLS® system to ensure your property gets maximum exposure,” McLeod said.


The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,635, a 38.6 per cent decline compared to January 2015 (10,811) and a 10.1 per cent increase compared to December 2015 (6,024). The sales-to-active listings ratio for January 2016 is 38 per cent. This is indicative of a seller’s market.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.

Sales of detached properties in January 2016 reached 1,047, an increase of 34.1 per cent from the 781 detached sales recorded in January 2015. The benchmark price for detached properties increased 27.9 per cent from January 2015 to $1,293,700.

Sales of apartment properties reached 1,096 in January 2016, an increase of 35.5 per cent compared to the 809 sales in January 2015.The benchmark price of an apartment property increased 19.4 per cent from January 2015 to $456,600.

Attached property sales in January 2016 totalled 376, an increase of 16.4 per cent compared to the 323 sales in January 2015. The benchmark price of an attached unit increased 16.4 per cent from January 2015 to $563,700.

*Note: Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.


Economic output in Canada rose 0.3 per cent in November after two consecutive months of falling or flat growth.  The increase in economic activity was led by gains in retail and wholesale trade as well as oil and gas extraction and manufacturing.  Given November's GDP data, Canadian economic growth is tracking at close to zero for the fourth quarter. 

US real GDP also experienced a significant slowdown in the fourth quarter, registering just 0.7 per cent at an annual rate. Growth was pulled lower by tempered household spending and a decline in business investment . For all of 2015, the US economy expanded 2.4 per cent, matching the rate of growth in 2014. 

Copyright British Columbia Real Estate Association. Reprinted with permission.

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