IN THIS ISSUE:
• March a record month in real estate
• Sales double in 'Nexus' markets
• Testimonial: ‘Our eyes and our ears’
• Lots of virtual entertainment on April's list
Records set in Metro Vancouver real estate
“In March, residents bought and listed homes across our region at levels not seen before.”
Those words came from the Real Estate Board of Greater Vancouver’s monthly statistics regarding activity in Metro Vancouver. What happened in March is unprecedented.
Just how unprecedented?
The number of homes sold in Metro Vancouver last month — 5,708 — is a sales record…the highest one-month total in history. Not just for March, but for any month — ever. It was also a staggering 72.2 per cent above the 10-year average for March and a 126.1 per cent increase over March 2020. It should be mentioned that the comparison is with a month (March 2020) in which COVID-19 devastated many industries, including real estate. That March 2021 was significantly stronger than a year ago was expected. What wasn't expected was the comparative size of the differences.
And while listings statistics showed a more modest increase than sales, they were still up dramatically. There were 8,287 detached, attached and apartment homes listed in March. That was an 86.8 per cent increase compared to March 2020, and a 64.2 per cent compared to February 2021. The indication is home owners are more comfortable about listing their homes for sale than they were a year or even a month ago.
In its news release, the REBGV said:
“This surge in activity is increasing upward pressure on prices. We’re beginning to see double-digit price gains for single-family homes and townhomes over the last 12 months.” It should also be mentioned that the sales and listings statistics may not apply to every price range, so it's important to check with Jennifer or Dale to find out how homes in your category are affected.
Just how unprecedented?
The number of homes sold in Metro Vancouver last month — 5,708 — is a sales record…the highest one-month total in history. Not just for March, but for any month — ever. It was also a staggering 72.2 per cent above the 10-year average for March and a 126.1 per cent increase over March 2020. It should be mentioned that the comparison is with a month (March 2020) in which COVID-19 devastated many industries, including real estate. That March 2021 was significantly stronger than a year ago was expected. What wasn't expected was the comparative size of the differences.
And while listings statistics showed a more modest increase than sales, they were still up dramatically. There were 8,287 detached, attached and apartment homes listed in March. That was an 86.8 per cent increase compared to March 2020, and a 64.2 per cent compared to February 2021. The indication is home owners are more comfortable about listing their homes for sale than they were a year or even a month ago.
In its news release, the REBGV said:
“This surge in activity is increasing upward pressure on prices. We’re beginning to see double-digit price gains for single-family homes and townhomes over the last 12 months.” It should also be mentioned that the sales and listings statistics may not apply to every price range, so it's important to check with Jennifer or Dale to find out how homes in your category are affected.
More sales means more demand and what follows are rising prices. The areas with the greatest increase in sales — again, March 2020 versus March 2021 — were either rural or suburban. Delta South’s increase led the way at 195.8 per cent, followed by Whistler (194.7 per cent) and Squamish (188.6 per cent).
These figures combine the three types: detached, attached and apartments. The monthly statistics graphics in News From Nexus focus on sales and listings in four areas — West Vancouver, North Vancouver, Vancouver East and Vancouver West.
Naturally, with such dramatic increases in sales, the sales-to-active-listings ratios are up, a combined 62.4 per cent in these categories — in other words, 62.4 per cent of all listings resulted in sales. By category, that breaks down as 52.9 per cent for detached homes, 79.9 per cent for attached homes and 65.4 per cent for apartments. Over an extended period, the ratio drives prices up or down.
To explain this market “boom” in spite of COVID-19, the REBGV attributed it, “in part, to an economy that’s showing signs of recovery, historically low interest rates, high demand for space, and increased household savings.”
So far, the light at the end of that tunnel isn’t visible.
Relying on the right realtors for that cross-country move
The logistics of a cross-country move can be daunting enough, so when realtors find just the right new home for you, it's a rewarding relief. That’s how Philip Newman and Kim Logan felt in moving to B.C. from Ontario after enlisting Jennifer and Dale to do just that via long distance. This is their story. “It was suggested we contact Nexus Realty and we were assured the Clarks would help us out — and they certainly did! Because of the distance between where we lived (London, 
Ontario) and our future home (West Vancouver), we could not be our own eyes and ears, nor feet on the ground, in the search for a suitable place to live. And so we entrusted that responsibility to the team of Dale and Jennifer Clark.
Ontario) and our future home (West Vancouver), we could not be our own eyes and ears, nor feet on the ground, in the search for a suitable place to live. And so we entrusted that responsibility to the team of Dale and Jennifer Clark. “They updated us regularly about housing possibilities. They followed up on any leads we found online. They regularly scoured the North Shore on our behalf and were instrumental in helping us purchase a townhome in Ambleside. We had such confidence in their strong work ethic, clear judgment, and pleasing loyalty to us as clients that the deal was secured sight-unseen! Who does that? We did! And we did because we had great realtors working on our behalf. Dale walked us through the property via video chat and satisfied our curiosity. We relied on their assessment of what would become our new home and it checked all the boxes. They made sure of that. Every detail was tended to in a timely fashion.
“After arriving from the east, we knew the location could not be better. We can walk to nearly every amenity we can imagine. And yes, we love it! In every aspect of the search and purchase we felt comfortable and secure in the caring and professional hands of Dale and Jennifer.
“We have commended Dale’s and Jennifer’s expertise to others unhesitatingly and will continue to do so.
“We have commended Dale’s and Jennifer’s expertise to others unhesitatingly and will continue to do so.
See April events calendar below
for lots of virtual entertainment!
COVID-19 and the changing face of Vancouver's real estate
They used to be categorized, simply, micro-markets. Now, they’re “secondary” markets.
They’re the countries, the provinces or states, the cities or towns, the districts or neighbourhood that are attracting home buyers because they appear to be safe.
Canada’s reputation for its handling of the pandemic makes it, to some, a safe haven. Within the country, Atlantic Canada has forged a reputation for relatively few cases of the coronavirus. Within provinces, rural locations feel more attractive for health protection. Within the cities, districts that have fewer per-capita cases of COVID-19 are magnets for moving.
Safety is king.
Because life is statistically safer outdoors than indoors, everybody is in search of more fresh air, whether it’s walking in a neighbourhood park or moving to a sparsely populated small town or a less-populated suburb. These are some of the components of today’s micro-markets.
Bedroom communities on the fringe of cities are growing in significance because in some cases employers have been told, or at least pressured, into allowing employees to work from home. This leads to the expansion of family homes to accommodate said employees, who either renovate or sell for something more practical.
Across the country, tourist towns are becoming hometowns.
In some Canadian towns known more for tourism than year-round residency, populations are surging by around 20 per cent, and sometimes housing prices are more than following suit. In B.C.’s tourist playground, from Penticton to the Shuswap and Revelstoke, the B.C. Real Estate Association published statistics that show a 15 per cent increase in prices and a 25.5 per cent increase in sales, from $4.7 billion to $5.9 billion since 2016.
This movement of people is part of what’s fuelling the increases in home sales in what will hopefully soon be a post-pandemic Canada. It’s making secondary markets of micro-markets, and primary markets of secondary markets such as tourist destinations.
However, it’s not only tourist towns that are being affected. In Windsor (Ont.), the heart of Canada’s automobile industry, the average house price five years ago was $175,000 and today it is $406,000, according to a story in the National Post, with a 2020 increase of 20 per cent.
And finally, a two-bedroom Langley townhome listed at $820,000 sold in mid-March after four days on the market for exactly half a million dollars over asking price — $1,320,000!
So if you’re wondering why there’s so much activity in real estate during these pandemic years, the changing face of markets appears to be one of the reasons.
That for the first time in 13 years, a survey shows 60 per cent Canadians believe their homes will increase in value over the next six months — compared to a pandemic low of 9 per cent — according to Bloomberg News polling conducted last month by the Nanos Research Group?
Real Estate Monthly Statistics
The following statistics for West Vancouver, North Vancouver, Vancouver West and Vancouver East
compare March 2021 to March 2020 (note: sales refers to number of sales, not to sale prices).
Benchmark Price: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market.To see more information on local stats, please click here.
Virtual events to enjoy in April
Even with warmer weather, many events are still virtual-only, and they're included in this space every month, along with outdoor opportunities where and when possible. This is the list of things to do for April:
April 7, 8 and 14
H.R. McMillan Space Centre
Living in Space — home learners webinar (10:30 a.m. to 11:30 a.m., April 7): Astronomer Rachel talks about different ways astronauts' bodies are affected living above the earth (designed for 5-7-year-olds)
Ask an Astronomer — live stream (2:00-2:30 p.m. April 8): Astronomer Rachel Wang and Program Coordinator Michael Unger talk about the latest in space science
Virtual Cosmic Nights — What is Life? (7:00-8:00 p.m. April 14): The latest astronomy live stream, for adults, with talks by industry experts, shows and trivia
https://www.spacecentre.ca/
Ask an Astronomer — live stream (2:00-2:30 p.m. April 8): Astronomer Rachel Wang and Program Coordinator Michael Unger talk about the latest in space science
Virtual Cosmic Nights — What is Life? (7:00-8:00 p.m. April 14): The latest astronomy live stream, for adults, with talks by industry experts, shows and trivia
https://www.spacecentre.ca/
Until April 9
Play: Kids Yoga Day
Play: Kids Yoga Day
Kids and parents — ready to move and have fun together!
Festival du Bois
B.C.’s largest francophone festival — Mackin Park, Coquitlam (free online event)
vancouversbestplaces.com/events-calendar/festival-du-bois
B.C.’s largest francophone festival — Mackin Park, Coquitlam (free online event)
vancouversbestplaces.com/events-calendar/festival-du-bois
April 22
Earth Day
Check online events for the day that celebrates the planet and the importance of taking care of it, around the world
vancouversbestplaces.com/earth-day
Until April 30
Vancouver Mysteries Games
The Case of the Hotel Detective — played indoors and delivered directly to your home!
Vancouver Mysteries Games
Until May 9
Check online events for the day that celebrates the planet and the importance of taking care of it, around the world
vancouversbestplaces.com/earth-day
Until April 30
Vancouver Mysteries Games
The Case of the Hotel Detective — played indoors and delivered directly to your home!
Vancouver Mysteries Games
Until May 9
Bill Reid Gallery
Indigenous History in Colour — solo exhibition by Luke Parnell
https://www.billreidgallery.ca
Until June 20
Vancouver Art Gallery
Art Connects — a series of online gatherings that encourage dialogue and connection in the era of physical distancing; every Tuesday and Friday, interactive conversations streamed live into your homes, featuring guests from local and international arts communities, via Zoom
Indigenous History in Colour — solo exhibition by Luke Parnell
https://www.billreidgallery.ca
Until June 20
Vancouver Art Gallery
Art Connects — a series of online gatherings that encourage dialogue and connection in the era of physical distancing; every Tuesday and Friday, interactive conversations streamed live into your homes, featuring guests from local and international arts communities, via Zoom
Until August 29
Imagine Van Gogh
Dozens of the Dutch artist’s painting in the travelling art exhibition, Vancouver Convention Centre.
vancouver-art-exhibition
Dozens of the Dutch artist’s painting in the travelling art exhibition, Vancouver Convention Centre.
vancouver-art-exhibition
Capilano Suspension Bridge
Capilano Suspension Bridge, Treetops Adventure and the exciting new Cliffwalk — appreciate nature from three breathtaking perspectives
capilano-suspension-bridge-park
Britannia Mine Museum
Little-seen world that fascinates all ages with awe-inspiring sights and memorable family experiences
britannia-mine-museum
Little-seen world that fascinates all ages with awe-inspiring sights and memorable family experiences
britannia-mine-museum
Grouse Mountain
The Peak of Vancouver — advance reservations for your Skyride boarding time mandatory, made when you purchase your tickets online
grouse-mountain-the-peak-of-vancouver
Musee Dorsay, Paris
musee-dorsay-paris
Family Day At MOV
grouse-mountain-the-peak-of-vancouver
Musee Dorsay, Paris
musee-dorsay-paris
Family Day At MOV
Admission must be pre-booked
museumofvancouver
Tourism Vancouver Events
tourismvancouver.com
North Shore Events
vancouversnorthshore.com/event
West Vancouver United Church
museumofvancouver
Tourism Vancouver Events
tourismvancouver.com
North Shore Events
vancouversnorthshore.com/event
West Vancouver United Church
Vancouver Aquarium
Live Cams
— Otters, Penguins, Jelly Fish
To connect with family and friends you can use Facebook, Messenger, FaceTime, Google Duo or Hangouts, Zoom, Instagram Video Chat, Snapchat Video and Chat, Skype, WhatsApp…the list is long. Check with family or friends and decide which is the best way to connect.
Tired of Cooking?
Tired of Cooking?
Many restaurants are offering take-out. Breaking Bread Now provides a list of restaurants in different areas with take-out meals
Need some culture or learning in your life?
Go to a virtual museum — you’ll find a lot of them through Google
Go to a virtual opera — metopera.org
Visit the Science Centre — scienceworld.ca
Nature web cams — explore.org/livecams
Search for lots of free learning programs for kids and adults online.
Visit your library for virtual programming
West Vancouver
North Vancouver City
North Vancouver District
City of Vancouver
Need some exercise?
Go for a walk and get some fresh air if you’re healthy and following physical distancing.
Many exercise, yoga or meditation videos are available on YouTube.
