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We have sold a property at 11 1355 CITADEL DR in Port Coquitlam

We have sold a property at 11 1355 CITADEL DR in Port Coquitlam. See details here

BEAUTIFUL corner unit, SO QUIET! NOT ON CITADEL DRIVE, plenty of windows, just about 2,000 sq ft with 3 bedrooms and 2.5 baths. Laminate floors A crisp white kitchen w/ plenty of countertops, S/S appliances, a breakfast bar, bright and a sunny front deck. The spacious livrm and dinrm are complete with access to an extremely private, lush & green 20 x 8'10 patio. The primary bedroom features a sitting area, his and hers closets, 4 piece ensuite & skylight above. The recreation room below is perfect for the teenagers, 2 car side by side garage. The visitor's parking just out front. Enjoy this 8+ acre complex, which is nestled next to parks, trails, schools, shopping & transit. This complex will have new windows and sliding doors, paid for by the sellers.

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We have sold a property at 313 23215 BILLY BROWN RD in Langley

We have sold a property at 313 23215 BILLY BROWN RD in Langley. See details here

Welcome to WATERFRONT AT BEDFORD LANDING! This IMMACULATE 929 sq ft 55+ home features 2 bedrooms, 2 bathrooms, and bright natural lighting. The kitchen boasts granite counters, stainless steel appliances, a gas range, newer dishwasher, and a touch faucet. Both bedrooms are on opposite ends, with the primary suite offering a walk-in closet with designer California closets throughout and heated tile floors in the ensuite. The second bedroom has a custom Murphy bed and a cheater ensuite to the main bathroom. Enjoy high-end vinyl flooring, custom blinds, and a large private balcony with a retractable shade awning. Includes all LED lighting, a newer washer/dryer, a same-floor storage locker, and 2 underground parking stalls. The building offers 7 EV charging stations. Strata fees include gas. Steps to Fort Langley, river, trails, cafes, shops, and restaurants.

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We have sold a property at 9709 208B ST in Langley

We have sold a property at 9709 208B ST in Langley. See details here

BEST DEAL IN TOWN. This home is spacious, clean,well-maintained and has fibre optic wiring so it is perfect for remote work.Located on a quiet,safe,family-oriented street,this home has it all. Interior was re-painted last year and it shows well.All you have to do is move in and get to know the neighbors.Backyard is fully fenced,private + designed for easy care making it a perfect oasis for family and friends.The attractive floor plan,oversized windows,high ceilings, large rooms,gas fireplace,chef kitchen,washer/dryer,ample counter space,roomy storage spaces + large double garage make this perfect for discerning buyers.Schools,recreation, services, shopping,dining,golf + entertainment are minutes away.Furniture included.Submit offers anytime.

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We have sold a property at 50 46213 HAK'WELES RD in Chilliwack

We have sold a property at 50 46213 HAK'WELES RD in Chilliwack. See details here

This upgraded 3,525 sq.ft. rancher w/basement features 3 bdrms, nestled in a private, western location on a 5,888 sqft fenced lot. Main floor boasts high-end flooring, trayed great rm ceilings w/crown mouldings, chef's kitchen w/quartz counters,smudge-proof SS appliances,gas range,custom backsplash,& WI pantry. The primary bdrm includes a spa-inspired 5 pce ensuite w/soaker tub. The fully finished basement offers a spacious rec rm, wet bar, added sound insulation, guest bdrm, full bthrm, gym area, & generous storage. Enjoy outdoor living with the covered deck & power shades on the back patio. This fully-loaded home features A/C, built-in speakers, & triple garage with EV setup. Additional perks incl sauna,leaf guard gutters,inground sprinklers & permanent exterior lighting.

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New property listed in Walnut Grove, Langley

We have listed a new property at 9709 208B ST in Langley. See details here

BEST DEAL IN TOWN. This home is spacious, clean,well-maintained and has fibre optic wiring so it is perfect for remote work.Located on a quiet,safe,family-oriented street,this home has it all. Interior was re-painted last year and it shows well.All you have to do is move in and get to know the neighbors.Backyard is fully fenced,private + designed for easy care making it a perfect oasis for family and friends.The attractive floor plan,oversized windows,high ceilings, large rooms,gas fireplace,chef kitchen,washer/dryer,ample counter space,roomy storage spaces + large double garage make this perfect for discerning buyers.Schools,recreation, services, shopping,dining,golf + entertainment are minutes away.Furniture included.Submit offers anytime.

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Where was the spring market? Homebuyers continue to wait in the wings despite highly-anticipated first rate cut by the Bank of Canada

Nationally, home prices increased 1.5% on a quarterly basis in Q2 despite activity slowdown in major markets

Despite a strong first quarter for sales, Canada’s spring housing market was muted in many regions across the country in Q2 of 2024. Although the first cut to the overnight lending rate by the Bank of Canada in June generated much buzz among Canadians, the long-awaited drop did not translate into a noticeable return of homebuyers to the market. This hesitant approach from purchasers contrasts against rising inventory levels, which has resulted in more balanced market conditions as of late. 

Royal LePage® is forecasting that the aggregate price of a home in Canada will increase 9.0% in the fourth quarter of 2024, compared to the same quarter last year. Nationally, home prices are forecast to see continued moderate price appreciation throughout the second half of the year.

“Canada’s housing market is struggling to find a consistent rhythm, as the last three months clearly demonstrated,” said Phil Soper, president and CEO, Royal LePage. “Nationally, home prices rose while the number of properties bought and sold sagged; an unusual dynamic. The silver lining: inventory levels in many regions have climbed materially. This is the closest we’ve been to a balanced market in several years.

“This trend dominates activity in two of the country’s largest and most expensive markets, the greater regions of Toronto and Vancouver, where sales are down yet prices remain sticky,” Soper continued. “There are exceptions. In the prairie provinces and Quebec, low supply and tight competition persist.”

Q2 reports modest uptick in home prices

According to the Royal LePage House Price Survey, the aggregate price of a home in Canada increased 1.9% year over year to $824,300 in the second quarter of 2024. On a quarter-over-quarter basis, the national aggregate home price increased 1.5%, despite a slowdown in activity in the country’s most expensive markets. 

When broken out by housing type, the national median price of a single-family detached home increased 2.2% year over year to $860,600, while the median price of a condominium increased 1.6% year over year to $596,500. On a quarter-over-quarter basis, the median price of a single-family detached home increased 1.8%, while the median price of a condominium increased 0.8%. 

Sustained high interest rates run risk of buyer rush

For the last two years, the national housing market has seen home prices fluctuate between modest declines and increases – with some regional exceptions – as a result of the impacts of higher interest rates. As the Bank of Canada cautiously navigates the delicate balance between lowering the key lending rate and keeping inflation in check, some segments of Canada’s housing market have stalled.

“Canada’s housing market faces pent-up demand after two stifling years of high borrowing costs. While inflation control is crucial, persistently high rates are increasing the risk of a surge in demand when buyers inevitably return. New household formation and immigration keep fueling the need for housing, and a sudden release could create much market instability. This highlights the need for a more nuanced approach that balances inflation control with economic vitality,” added Soper. 

Increased borrowing costs hamper new supply creation

Elevated borrowing rates are not only dampening housing market activity but also stifling the construction of new homes. Builders, who rely heavily on lending, are finding it increasingly difficult to finance new projects, exacerbating the country’s shortage of housing at a time when our population continues to grow.

“Canada’s housing market faces complex challenges. While raising interest rates was crucial to fighting inflation, it has unintentionally choked off the essential flow of new housing supply. Higher borrowing costs, coupled with labour shortages in the construction trades and rising material prices, have made it economically unsustainable for developers to launch new projects. This creates a perfect storm – our population is growing steadily, yet we’re building far fewer homes than what’s needed to meet that demand. This situation urgently needs innovative solutions to ensure Canadians have access to affordable housing options,” concluded Soper.

Read Royal LePage’s second quarter release for national and regional insights. 

Second quarter press release highlights:

  • Toronto and Vancouver report slower-than-usual market activity this spring as inventory builds, while demand continues to outpace supply in prairie provinces and Quebec  

  • Quebec City records highest year-over-year aggregate price increase (10.4%) in Q2 among report’s major regions

  • Royal LePage maintains national year-end forecast with prices expected to increase 9.0% in Q4 2024 over the same period last year 

  • According to a Royal LePage survey, conducted by Leger2 earlier this year, 51% of sidelined homebuyers said they would resume their search if interest rates reversed.

https://blog.royallepage.ca/where-was-the-spring-market-homebuyers-continue-to-wait-in-the-wings-despite-highly-anticipated-first-rate-cut-by-the-bank-of-canada/

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We have sold a property at 21 20150 81 AVE in Langley

We have sold a property at 21 20150 81 AVE in Langley. See details here

Verge by Essence Properties. This meticulous 4 BED, 4 BATH townhouse is the perfect place to call home. 9 feet ceilings throughout with comfort of central A/C. The kitchen features KitchenAid S/S Gas range, French door fridge, quartz countertops, matte black hardware and ambient under cabinet light. Bright dining room has access to balcony with custom built awning. Ensuite bath with floor to ceiling tile, frameless glass showers and rainfall shower head. Huge walk-in closet in primary bedroom. Lower level has bedroom, bathroom, separate entry & its own patio. Double car garage with epoxy coating & EV Charger plus an additional parking spot. Remainder of warranty. Family oriented complex offers outdoor swimming pool, playground & clubhouse. Close to schools, dining & much more. A must see!

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Open House. Open House on Saturday, July 13, 2024 1:00PM - 3:00PM
Hosted by Paige Hurtubise of Royal Lepage Wolstencroft

Please visit our Open House at 317 83 STAR CRES in New Westminster. See details here

Open House on Saturday, July 13, 2024 1:00PM - 3:00PM Hosted by Paige Hurtubise of Royal Lepage Wolstencroft

Discover The Residences By The River. This immaculate building offers worry-free living with a proactive strata, mere steps from Port Royal's sandy beach and a scenic 1.3 km river walk. The fully renovated unit exudes an urban Yale ambiance with an inviting open-concept layout seamlessly connecting the kitchen, dining, and living areas. Bedrooms are strategically placed on opposite sides for privacy, while the spacious master boasts a walk-in closet and room for a king-size bed. Enjoy stunning views of the Quay and Fraser River, visible from every room. Embrace the friendly neighborhood vibe, complete with a community garden and dog park. With an easy commute to Vancouver and proximity to all amenities, The Residences By The River is New West's best-kept secret—be part of it!

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Open House. Open House on Saturday, July 13, 2024 1:00PM - 3:00PM
Hosted by Jennifer Clancey

Please visit our Open House at 50 46213 HAK'WELES RD in Chilliwack. See details here

Open House on Saturday, July 13, 2024 1:00PM - 3:00PM Hosted by Jennifer Clancey

This upgraded 3,525 sq.ft. rancher w/basement features 3 bdrms, nestled in a private, western location on a 5,888 sqft fenced lot. Main floor boasts high-end flooring, trayed great rm ceilings w/crown mouldings, chef's kitchen w/quartz counters,smudge-proof SS appliances,gas range,custom backsplash,& WI pantry. The primary bdrm includes a spa-inspired 5 pce ensuite w/soaker tub. The fully finished basement offers a spacious rec rm, wet bar, added sound insulation, guest bdrm, full bthrm, gym area, & generous storage. Enjoy outdoor living with the covered deck & power shades on the back patio. This fully-loaded home features A/C, built-in speakers, & triple garage with EV setup. Additional perks incl sauna,leaf guard gutters,inground sprinklers & permanent exterior lighting.

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We have sold a property at 308A 45595 TAMIHI WAY in Chilliwack

We have sold a property at 308A 45595 TAMIHI WAY in Chilliwack. See details here

Stunning 1 Bedroom plus large DEN- ready for you to move in! GREAT LAYOUT and style here with plenty of updates in the last few years, including NEW CARPET and a completely renovated bathroom. NEW backsplash, quartz countertops, soft close cabinets, new sink and extra quiet appliances in kitchen. Bedroom, entry and laundry have custom shelving, A/C mini split system installed, new blinds. One of the BEST LOCATIONS in town! Close to Cheam Centre, Restaurants, Parks, Vedder River, Dog Park, Groceries, Liquor Store, Bus Routes, Insurance, Coffee, Yoga Studio. Minutes away from Cultus Lake. Book your showing today!

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We have sold a property at 7 20498 82 AVE in Langley

We have sold a property at 7 20498 82 AVE in Langley. See details here

Gabriola Park. A rare opportunity to own an immaculate corner townhouse with primary bedroom on the main. Luxury throughout. Soaring living room ceiling with balcony.Dream kitchen with gas range with pot filler, shaker cabinets, quartz counters, SS appliances and a oversized window overlooking garden. 3 good sized bedrooms. Primary has a walk through closet into an ensuite with double sinks, soaker tub and walk in shower. 2 large beds upstairs serviced by a full bathroom, one with a private deck 12' x 13'. Fully fenced yard. Double garage, 19' x 19' with epoxy floor for easy cleaning and EV connection. Wonderful situation with easy access to transportation, shopping at Willoughby Heights, elementary, middle and high schools, #1 Highway and Langley Events Centre.

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New property listed in Fort Langley, Langley

We have listed a new property at 313 23215 BILLY BROWN RD in Langley. See details here

Welcome to WATERFRONT AT BEDFORD LANDING! This IMMACULATE 929 sq ft 55+ home features 2 bedrooms, 2 bathrooms, and bright natural lighting. The kitchen boasts granite counters, stainless steel appliances, a gas range, newer dishwasher, and a touch faucet. Both bedrooms are on opposite ends, with the primary suite offering a walk-in closet with designer California closets throughout and heated tile floors in the ensuite. The second bedroom has a custom Murphy bed and a cheater ensuite to the main bathroom. Enjoy high-end vinyl flooring, custom blinds, and a large private balcony with a retractable shade awning. Includes all LED lighting, a newer washer/dryer, a same-floor storage locker, and 2 underground parking stalls. The building offers 7 EV charging stations. Strata fees include gas. Steps to Fort Langley, river, trails, cafes, shops, and restaurants.

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