Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

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OPEN HOUSE: Aug 1, 2-4pm at 1203-3096 Windsor Gate, Coquitlam

Listed at $949,900: 203-3096 Windsor Gate, Coquitlam


BEAUTIFUL, big & bright 1260 s.f, 3 bed/2 bath condo in Mantyla in lovely Windsor Gate neighbourhood. South-east CORNER unit w/amazing mountain & park VIEWS. Open floor plan w/HUGE chef's kitchen, dining & living room is perfect for entertaining. Master bedroom is BIG w/luxurious ensuite bath & walk-in closet. 2 other bedrooms are good size. Approx 120 s.f. balcony! Building is only 2 y.o, still under WARRANTY.


Mantyla has party room, gym & outdoor bbq/playground area + access to RESORT-style Nakoma Club w/guest suites, gym, ping pong, basketball court, HUGE party room, theatre + o/d pool & hot tub, etc! 2 PETS & RENTALS allowed (no AirBnB). Schools, Skytrain, Coquitlam Center, parks, etc, all within 10 min walk. 1 EV parking stall!

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Open House. Open House on Sunday, August 1, 2021 2:00PM - 4:00PM

Please visit our Open House at 1203 3096 WINDSOR GATE in Coquitlam.
Open House on Sunday, August 1, 2021 2:00PM - 4:00PM
BEAUTIFUL, big & bright 1260 s.f, 3 bed/2 bath condo in Mantyla in lovely Windsor Gate neighbourhood. South-east CORNER unit w/amazing mountain & park VIEWS. Open floor plan w/HUGE chef's kitchen, dining & living room is perfect for entertaining. Master bedroom is BIG w/luxurious ensuite bath & walk-in closet. 2 other bedrooms are good size. Approx 120 s.f. balcony! Building is only 2 y.o, still under WARRANTY. Mantyla has party room, gym & outdoor bbq/playground area + access to RESORT-style Nakoma Club w/guest suites, gym, ping pong, basketball court, HUGE party room, theatre + o/d pool & hot tub, etc! 2 PETS & RENTALS allowed (no AirBnB). Schools, Skytrain, Coquitlam Center, parks, etc, all within 10 min walk. 1 EV parking stall! OPEN HOUSE: Sun. Aug 1, 2-4pm.
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Canadian Monthly Economic Growth (Real GDP May 2021) - July 30, 2021

The Canadian economy contracted by 0.3% in May, the second consecutive month of decline following a 0.5% contraction in April. Services and goods sectors declined by 0.2% and 0.4% respectively as restrictions from the third COVID wave continued to dampen economic activity. Construction activity declined 2.3% in May, with a 4.2% drop in residential building construction led by declines in single-family home construction. The real estate sector fell 7.2% in May, following a 10.7% drop in April, due to slowing home sales. 

While the post-pandemic economic recovery remains strong, many sectors are grappling with conditions that have led to shortages of raw materials and labour. As the economy converges to pre-crisis levels, costs of some inputs remain elevated as supply chains readjust. Although Statistics Canada reported contractions in April and May, based on advanced data the agency estimates that June real GDP rose 0.7%. As a result, the agency's preliminary forecast is for a 0.6% increase in real GDP in the second quarter of 2021. 



Copyright British Columbia Real Estate Association. Reprinted with permission.



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Canadian Inflation (June 2021) - July 28, 2021


Canadian prices, as measured by the Consumer Price Index (CPI), rose 3.1% on a year-over-year basis in June, down from the prior two months. The downward pull of "base-year effects" are no longer influencing the year-over-year CPI values, as June 2020 prices had recovered from dips in the early months of the pandemic. On a seasonally adjusted month-over-month basis, the CPI was up just 0.1% in June. The Bank of Canada's preferred measures of core inflation (which use techniques to strip out volatile elements) rose an average of 2.3% year-over-year in June. In BC, consumer prices were up 0.5% month-over-month, and up 2.4% on a year-over-year basis in June.

While inflation is currently running higher than the Bank of Canada's 2 per cent target, many economists expect this elevated rate of price increases to be transitory as economies emerge from the pandemic and supply chains normalize. Base-year effects from falling prices during the early months of the pandemic had exaggerated year-over-year changes in CPI, but these effects have now ended, and the rate of increase in CPI is correspondingly lower. The rate of inflation as measured by CPI is very important for the Bank of Canada's monetary policy stance over the next year. If higher inflation is not transitory but instead the result of an over-stimulated economy, the central bank could act to raise interest rates sooner than expected. However, if the uptick in inflation continues to fade in the coming months, we expect the Bank will stay its current course.



Copyright British Columbia Real Estate Association. Reprinted with permission.


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OPEN HOUSE July 25, 12-2pm at 1207-200 Nelson's Crescent


Check out this awesome condo this Sun, 12-2pm at my Open House (masks & sanitizer provided):


MODERN, stylish 850 s.f, 2 bed/2 bath in The Sapperton in New West's hip Brewery District. This north-east corner unit has great river & mountain VIEWS & stays cool in the summer. Bright, open concept kitchen, dining & living room. Kitchen has LUXURY features: s/s appliances, quartz countertop & gas stove. Both bedrooms are good size. Approx 100 s.f. balcony. Proactive strata!


Amenities incl: common rooftop deck w/bbq, lobby lounge, mini-park w/garden plots + access to Club Central w/gym, squash, sauna, steam, social kitchen + rec room. 1 parking, 1 locker. Within 10 min walk: McBride Elementary, Sapperton Skytrain, Royal Columbian Hospital, Save-On, Shoppers, Browns, TD Bank, etc. 2 PETS & RENTALS allowed (no AirBnB).

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New property listed in New Horizons, Coquitlam

I have listed a new property at 1203 3096 WINDSOR GATE in Coquitlam.
BEAUTIFUL, big & bright 1260 s.f, 3 bed/2 bath condo in Mantyla in lovely Windsor Gate neighbourhood. This 2 y.o, south-east CORNER unit has amazing mountain & park VIEWS. Open floor plan w/chef's kitchen, dining & living room is perfect for entertaining. Master bedroom is BIG w/luxurious ensuite bath & walk-in closet. 2 other bedrooms are good size. Approx 140 s.f. balcony! Manytla has party room, gym & outdoor bbq/playground area + access to RESORT-style Nakoma Club w/gym, squash, ping pong, basketball courts, HUGE party room, theatre + o/d pool & hot tub! 2 pets & rentals allowed (no AirBnB). Schools, Skytrain, Coquitlam Centre, parks, etc, all within 10 min walk! 1 parking. 1st SHOWINGS this Sat, Jul. 24, 12-2pm, by appointment.
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Open House. Open House on Sunday, July 25, 2021 12:00PM - 2:00PM

Please visit our Open House at 1207 200 NELSON'S CRES in New Westminster.
Open House on Sunday, July 25, 2021 12:00PM - 2:00PM
MODERN, stylish 850 s.f, 2 bed/2 bath in The Sapperton in New West's hip Brewery District. This north-east corner unit has great river & mountain VIEWS & stays cool in the summer. Bright, open concept kitchen, dining & living room. Kitchen has LUXURY features: s/s appliances, quartz countertop & gas stove. Both bedrooms are good size. Approx 100 s.f. balcony. Proactive strata! Amenities incl: common rooftop deck w/bbq, lobby lounge, mini-park w/garden plots + access to Club Central w/gym, squash, sauna, steam, kitchen + rec room. 1 parking, 1 locker. Within 10 min walk: McBride Elementary, Sapperton Skytrain, Royal Columbian Hospital, Save-On, Shoppers, Browns, TD Bank, etc. 2 pets & rentals allowed (no AirBnB). Check the VIRTUAL Tour! OPEN HOUSE, Sun. Jul 25, 12-2pm.
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Canadian Housing Starts (June 2021) - July 18, 2021


Canadian housing starts continued at a historically high level in June. Although housing starts decreased to 282.1k units (-1.5% m/m) in June at a seasonally adjusted annual rate (SAAR), on a year-over-year basis starts were still 33% above their June 2020 levels. The six-month moving average of SAAR housing starts rose 3.1% to 293.6k units in June. Single-detached housing starts declined 6.9% from May, while all other housing starts rose 0.9%. 

In BC starts rose faster than any other province in June, up 43% m/m to 68k units SAAR in all areas of the province. The level remains just below a record March when new units were constructed at a 71K unit annualized pace. In terms of the six-month moving average, BC is at a record level of housing starts. In centres with at least 10,000 residents, single-detached starts were flat, but multi-unit starts were up 56% from last month. Compared to the same time last year, housing starts in June were up 74%. In Vancouver, housing starts were 91% higher than June of 2020, while in Victoria starts were up 78% from the same month last year. 



Copyright British Columbia Real Estate Association. Reprinted with permission.


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SHOWINGS start Sat, July 17, 2-5pm


SHOWINGS, by appointment, start tomorrow Sat. July 17, 2-5pm, at my NEW LISTING at 1207-200 Nelson's Crescent in New Westminster!

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New property listed in Sapperton, New Westminster

I have listed a new property at 1207 200 NELSON'S CRES in New Westminster.
MODERN, stylish 850 s.f, 2 bed/2 bath in The Sapperton in New West's hip Brewery District. This north-east corner unit has great river & mountain VIEWS & stays cool in the summer. Bright, open concept kitchen, dining & living room. Kitchen has LUXURY features: s/s appliances, quartz countertop & gas stove. Both bedrooms are good size. Approx 100 s.f. balcony! Proactive strata. Amenities incl: common rooftop deck w/bbq, lobby lounge, mini-park w/garden plots + access to 10,000 s. f. Club Central w/gym, squash, sauna, steam, party kitchen & rec room. 1 parking, 1 locker. Within 10 min walk: Sapperton Skytrain, Royal Columbian Hospital, Save-On, Shoppers, TD Bank, etc. 2 pets & rentals allowed (no AirBnB). 1st SHOWINGS start Sat, July 17, 1-5pm, by appointment. Check the VIRTUAL Tour
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BC Housing Market Activity Normalizing After a Frenetic Year


The British Columbia Real Estate Association (BCREA) reports that a total of 11,070 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June 2021, an increase of 34.7 per cent over June 2020. The average MLS® residential price in BC was $910,445, a 22.2 per cent increase from $745,194 recorded in June 2020. Total sales dollar volume was $10.1 billion, a 64.6 per cent increase from last year.

“As expected, housing market activity is calming to start the second half of 2021,” said BCREA Chief Economist Brendon Ogmundson. “That said, while down from record highs earlier this year, home sales across the province remain well above long-run average levels"

Total active residential listings were down 23.4 per cent year-over-year in June and continued to fall on a monthly seasonally adjusted basis.

Year-to-date, BC residential sales dollar volume was up 161.6 per cent to $64.7 billion, compared with the same period in 2020. Residential unit sales were up 114.3 per cent to 70,690 units, while the average MLS® residential price was up 22.1 per cent to $915,563. 



Copyright British Columbia Real Estate Association. Reprinted with permission.


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Canadian Employment (June 2021) - July 9, 2021


Canadian employment grew by 231,000 jobs in June (1.2%, m/m) to 18.79 million, led by a 264,000 rise in the number of part-time jobs (offsetting a small decline in the number of full-time jobs). This growth brings employment back to nearly the levels in March, prior to two consecutive months of decline amid third-wave restrictions. The level of Canadian employment is now -1.8% (-340k) below its February 2020 pre-pandemic level. Ontario and other provinces eased third-wave restrictions in June. As a result, the industries driving growth in June across Canada were in accommodation & food services (+101k) and retail trade (+75k). The unemployment rate declined 0.4% to 7.8%.

In BC, employment rose by 42,000 (+1.6% m/m), following declines in April and May. The unemployment rate fell slightly from 7.0% to 6.6%, driven by growth in part-time work and the food & accommodation sector (+19k). BC is the lone province with employment above its pre-pandemic level. 



Copyright British Columbia Real Estate Association. Reprinted with permission.


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While still elevated, home sale and listing activity in Metro Vancouver* has eased back from the record-setting pace seen in March and April of this year.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,762 in June 2021, a 54 per cent increase from the 2,443 sales recorded in June 2020, and an 11.9 per cent decrease from the 4,268 homes sold in May 2021.


Last month’s sales were 18.4 per cent above the 10-year June sales average. 
“Metro Vancouver’s housing market continues to experience strong seller’s market conditions, although the intensity of demand has eased from what we saw throughout most of the spring,” Keith Stewart, REBGV economist said. “The past two months have shown a market that’s shifting toward more historically typical conditions.”


There were 5,849 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2021. This represents a 1.1 per cent increase compared to the 5,787 homes listed in June 2020 and a 17.9 per cent decrease compared to May 2021 when 7,125 homes were listed. 
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,839, a 5.1 per cent decrease compared to June 2020 (11,424) and a 1.2 per cent decrease compared to May 2021 (10,970).


“With low interest rates, a growing economy and an improving job market, the Metro Vancouver housing market continues to enjoy solid economic fundamentals,” Stewart said. “We’re now seeing a market that’s beginning to normalize from the torrid pace in the spring. This is making multiple offers less common, allowing subjects to be seen on offers more frequently again, and is making new price records less likely.”


For all property types, the sales-to-active listings ratio for June 2021 is 34.7 per cent. By property type, the ratio is 27.5 per cent for detached homes, 49.2 per cent for townhomes, and 37.1 per cent for apartments. 
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,175,100. This represents a 14.5 per cent increase over June 2020 and a 0.2 per cent increase compared to May 2021.


Sales of detached homes in June 2021 reached 1,262, a 45.7 per cent increase from the 866 detached sales recorded in June 2020. The benchmark price for detached properties is $1,801,100. This represents a 22 per cent increase from June 2020 and is virtually unchanged from May 2021.


Sales of apartment homes reached 1,774 in June 2021, a 60.5 per cent increase compared to the 1,105 sales in June 2020. The benchmark price of an apartment is $737,600. This represents a 8.9 per cent increase from June 2020 and a 0.1 per cent increase compared to May 2021.


Attached home sales in June 2021 totalled 726, a 53.8 per cent increase compared to the 472 sales in June 2020. The benchmark price of an attached home is $946,900. This represents a 17.4 per cent increase from June 2020 and a 1.1 per cent increase compared to May 2021.




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



Copyright British Columbia Real Estate Association. Reprinted with permission.





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Canadian Monthly Economic Growth ( Real GDP April 2021) - June 30, 2021


The Canadian economy contracted for the first time in 12 months in April as monthly real GDP fell 0.3 per cent due to restrictions put in place to contain the third wave of COVID-19. The largest declines were felt in high-touch services sector industries like retail trade and food services.  Output of the real estate sector also dipped in April, though coming off a record month of sales in March.

Many sectors are currently dealing with the complexities of recovering from a pandemic that has produced significant shortages of materials and labour. As a result, there is an adjustment process underway, highlighted by rapidly rising costs, as businesses scramble to recover back to pre-pandemic levels of production and service. That process will continue to create some ups and downs as the economy moves into a post-pandemic environment but the overall trend in the economy is overwhelmingly positive. Statistics Canada estimates that strong growth resumed in May and we anticipate the Canadian economy will expand at a 6 per cent rate this year.  The same is true of the BC economy, where we are tracking economic growth for 2021 at 6.2 per cent.



Copyright British Columbia Real Estate Association. Reprinted with permission.



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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.