IN THE MAY ISSUE:
• All-time April sales record for Metro Vancouver
• Testimonial: 'Calm, experienced, professional'
• Ratios telling the story since pandemic's start
• Virtual entertainment line-up for month of May
Statistics in context: April’s REBGV message
If ever the monthly statistics from the Real Estate Board of Greater Vancouver required a little context, it’s the stats that were just released, for April.
Every month, REBGV analysts compare sales and listings for the most recent month with the same month from one year ago. While this year-to-year comparison is just one set of the monthly statistics, it is traditionally the one that gets the most attention.
How is the market doing compared to last year at the same time?
To put these statistics in perspective for April 2021, it’s important to remember what happened in April 2020. That was the first month after the arrival of COVID-19 and business everywhere, including real estate, was to put it charitably in disarray. Some analysts say April 2020 was the worst month in history for real estate, so any comparisons to that month were bound to be far better.
So when you read the statistics charts in this edition of News From Nexus, that’s why — for example — listings in Vancouver East are up over 500 per cent, why sales of North Vancouver townhomes are up 617 per cent, why detached homes listings in Vancouver West are up 446.9 per cent and why West Vancouver sales in all three categories is up over 
300 per cent. Another factor is that there are many markets within Metro Vancouver and in some, notably West Vancouver, the high percentages are based on a small sample size because sales haven't taken off to the same extent, in terms of volume.
300 per cent. Another factor is that there are many markets within Metro Vancouver and in some, notably West Vancouver, the high percentages are based on a small sample size because sales haven't taken off to the same extent, in terms of volume.
While keeping the figures in context, it’s also important to recognize that listings are up everywhere once again this month, just like sales are. In some cases, the increases are dramatic, and the result is a Lower Mainland market that is more active than it’s been since…forever.
Last month, the 4,908 homes sold in Metro Vancouver was an all-time record for the month of April, and 56.2 per cent more than the 10-year average for the month. The 10,246 homes on the market last month represented a 9.1 per cent increase compared to the previous April and, perhaps more importantly, a 12 per cent increase compared to March 2021.
"While homes are now being listed at record levels, more supply is needed to meet today's demand and help market conditions achieve greater balance,” the REBGV said in its monthly statement. “[April 2020] was followed by a well-documented spike in home buyer demand across the region. So far this spring, we’ve seen a corresponding supply response from home sellers."
However, the number of homes sold last month was also a 14 per cent decrease from sales the previous month, March 2021. The same applied to new listings — up compared to April 2020, down slightly compared to March 2021.
That is sustaining the strong market that has existed for several months now.
According to the REBGV: “Record low interest rates, increased household savings, a strengthening economy and a continued focus on living space during the pandemic are all factors that are helping to bolster demand while steady price growth is encouraging more sellers to list their homes.”
Scroll down to read analysis of the sales-to-active-listings ratio in what might be called pandemic times.
"While homes are now being listed at record levels, more supply is needed to meet today's demand and help market conditions achieve greater balance,” the REBGV said in its monthly statement. “[April 2020] was followed by a well-documented spike in home buyer demand across the region. So far this spring, we’ve seen a corresponding supply response from home sellers."
However, the number of homes sold last month was also a 14 per cent decrease from sales the previous month, March 2021. The same applied to new listings — up compared to April 2020, down slightly compared to March 2021.
That is sustaining the strong market that has existed for several months now.
According to the REBGV: “Record low interest rates, increased household savings, a strengthening economy and a continued focus on living space during the pandemic are all factors that are helping to bolster demand while steady price growth is encouraging more sellers to list their homes.”
Scroll down to read analysis of the sales-to-active-listings ratio in what might be called pandemic times.
Selling 'enjoyable not stressful' experience
One of the nice characteristics of Nexus Realty clients is that they have long memories. That’s the case with West Vancouver’s Elizabeth Liddell, who graciously remembers her real estate experience and who wants to share it with News From Nexus readers.By Elizabeth Liddell
In 2012, a close friend who had recently completed a real estate transaction with Nexus Realty said if we were ever thinking of moving, we should throw away all the calendars we receive in the mail every Christmas from various realtors promoting themselves (or someone’s cousin, uncle, friend, etc.) and just go directly to Dale Clark. I said that, well, we weren’t thinking of moving, but thanks. (We were annually receiving three Christmas calendars from realtors!)
Two years later, my husband and I decided to take advantage of a rapidly-rising market and “scale down” to a smaller house, and perhaps be able to take some
equity from the transactions. Since we had no particular loyalty to any realtor, we decided to “try out” Nexus Realty. We had a meeting with Dale and Jennifer.
We were immediately convinced at our first meeting that we had made the right decision so we listed our beautiful house in Dundarave. Having lived in a house we loved for 20
years, we didn’t think leaving would be easy, either practically or psychologically, particularly when we didn’t know where we were going. In reality, the reverse was true.
We were immediately convinced at our first meeting that we had made the right decision so we listed our beautiful house in Dundarave. Having lived in a house we loved for 20
years, we didn’t think leaving would be easy, either practically or psychologically, particularly when we didn’t know where we were going. In reality, the reverse was true. Dale and Jennifer walked us through the process of listing our home, considering multiple offers, searching for a new home, and renting back our old house, at least temporarily. When we did purchase in Caulfeild, the owners of our ‘new’ house wanted a long closing, so Dale managed to renegotiate the rental on our old house, accommodating everyone’s needs.
Truly interesting was that Dale and Jennifer made the experience enjoyable, not stressful. I have friends who still talk about not moving because of the stress it brings, and I always tell them that it doesn’t have to be like that if they have the right team.
While we weren’t young kids doing our first house deal, we didn’t want to make a mistake at this time in our lives, and that thought never occurred to us once we enlisted the Nexus Realty team. Jennifer spent hours with potential buyers running around with inspectors, buyers so worried about an oil tank being on the property despite our certificate showing there was no oil tank. It never rattled or disgruntled the Clarks.
Their patience is unending. They never show any sign of frustration if you tell them one day that you want a house with high ceilings and a large openly-flowing floor plan, and the next day you want a cozy, attic-style loft home with lots of rugs and bookcases.
They are calm, experienced and professional. We spent many hours together in their car, searching for a new home. I think the final count was 40 places before we bought the home I’m writing from today.
For us, they made the whole experience something we were so glad we did.
It’s now six years since moving to Caulfeild, so why am I wanting to tell people about Nexus Realty now? It’s because I lost my beloved husband last year and I’m now looking at the possibility of 'scaling down.’ I’m not at all worried about doing this, so long as my ‘team’ is Nexus Realty. It might not be a cake-walk since I have a dog and a grand piano that could somewhat limit my opportunities. However, I am confident both Dale and Jennifer will have my best interests at heart and they will treat me in the same professional and caring way they treated us six years ago, and as they have treated so many other people, in the long career of their boutique company.
So my recommendation is to do what we did — throw away all those old real estate promotional calendars and just go directly to Nexus Realty. You will be glad you did.
While we weren’t young kids doing our first house deal, we didn’t want to make a mistake at this time in our lives, and that thought never occurred to us once we enlisted the Nexus Realty team. Jennifer spent hours with potential buyers running around with inspectors, buyers so worried about an oil tank being on the property despite our certificate showing there was no oil tank. It never rattled or disgruntled the Clarks.
Their patience is unending. They never show any sign of frustration if you tell them one day that you want a house with high ceilings and a large openly-flowing floor plan, and the next day you want a cozy, attic-style loft home with lots of rugs and bookcases.
They are calm, experienced and professional. We spent many hours together in their car, searching for a new home. I think the final count was 40 places before we bought the home I’m writing from today.
For us, they made the whole experience something we were so glad we did.
It’s now six years since moving to Caulfeild, so why am I wanting to tell people about Nexus Realty now? It’s because I lost my beloved husband last year and I’m now looking at the possibility of 'scaling down.’ I’m not at all worried about doing this, so long as my ‘team’ is Nexus Realty. It might not be a cake-walk since I have a dog and a grand piano that could somewhat limit my opportunities. However, I am confident both Dale and Jennifer will have my best interests at heart and they will treat me in the same professional and caring way they treated us six years ago, and as they have treated so many other people, in the long career of their boutique company.
So my recommendation is to do what we did — throw away all those old real estate promotional calendars and just go directly to Nexus Realty. You will be glad you did.
Ratios that tell the story of housing prices
Sales-to-active listings ratio: percentage of active listings that are sold
Among the regular real estate statistics from the Real Estate Board of Greater Vancouver is the sales-to-active listings ratio. If this percentage is above 20 per cent, analysts say that exerts upward pressure on home prices. If it’s below 12 per cent, the same analysts say the pressure on home prices will be downward. However, the impact on home prices in Metro Vancouver will be seen only when those percentages are for a “sustained period” — or “several months.”
So here’s a look back at what sales-to-active listings ratio looks like over a “sustained” period…
For all listings
• above 20 per cent for 11 consecutive months and above 25 per cent for eight straight months
• highest three months in the past year: March 62.4, April 47.9 and February 44.6
• average of 29.4 for 2020 and the first four months of 2021, and 32.6 for the last year
• above the 12 per cent threshold every month for the past year
For detached listings
• above 20 per cent for 10 months running, and 25 per cent or more for last eight months
• high point in March: 52.9 per cent
• for the past three months: 44.0 per cent
• below the 12 per cent threshold only once since the pandemic, 10.0 in April 2020
For attached listings (townhomes)
• higher than 30 per cent for 10 consecutive months
• almost 80 per cent (79.9) of all listings sold in March 2020
So here’s a look back at what sales-to-active listings ratio looks like over a “sustained” period…
For all listings• above 20 per cent for 11 consecutive months and above 25 per cent for eight straight months
• highest three months in the past year: March 62.4, April 47.9 and February 44.6
• average of 29.4 for 2020 and the first four months of 2021, and 32.6 for the last year
• above the 12 per cent threshold every month for the past year
For detached listings
• above 20 per cent for 10 months running, and 25 per cent or more for last eight months
• high point in March: 52.9 per cent
• for the past three months: 44.0 per cent
• below the 12 per cent threshold only once since the pandemic, 10.0 in April 2020
For attached listings (townhomes)
• higher than 30 per cent for 10 consecutive months
• almost 80 per cent (79.9) of all listings sold in March 2020
• highest three months: March 79.9, April 70.0 and February 61.8
• average of 43.8 for the past 12 months, the highest of the three sub-categories.
For apartments
• exceeded 20 for 11 consecutive months, and 14 of 16 months since start of the decade
• peaked at 65.4 in March, the third-highest for any month in any category
• never below the pressure-downward of 12 since the January 2020
• an average of 46.6 per month so far in 2021
In conclusion, that means there should have been upward pressure on home prices in all three categories, which have had ratios above 20 for a “sustained period” — or several months, at least. Of the three, the greatest and most consistent upward pressure has applied for townhomes, also known as attached homes.
The sustained period of this upward pressure is one of the factors that explains what housing prices have been doing throughout the Lower Mainland.
• average of 43.8 for the past 12 months, the highest of the three sub-categories.
For apartments
• exceeded 20 for 11 consecutive months, and 14 of 16 months since start of the decade• peaked at 65.4 in March, the third-highest for any month in any category
• never below the pressure-downward of 12 since the January 2020
• an average of 46.6 per month so far in 2021
In conclusion, that means there should have been upward pressure on home prices in all three categories, which have had ratios above 20 for a “sustained period” — or several months, at least. Of the three, the greatest and most consistent upward pressure has applied for townhomes, also known as attached homes.
The sustained period of this upward pressure is one of the factors that explains what housing prices have been doing throughout the Lower Mainland.
Ensuring that insurance coverage is correct
With the increase in real estate activity, many home owners in the Lower Mainland are on the move — literally — these days, and it’s sometimes easy for things to slip through the cracks. Things like insurance.
As experienced home owners know, insurance usually must be in place on the completion date when you buy a home, even if you don’t move in that day. Some lenders typically 
stipulate insurance must be in place by the completion date, and it's worth noting that arranging insurance can take more time than you think. This could mean having insurance on your old home and your new home to bridge a short gap during your move.
stipulate insurance must be in place by the completion date, and it's worth noting that arranging insurance can take more time than you think. This could mean having insurance on your old home and your new home to bridge a short gap during your move.
Even though you haven’t moved into your new place, your home insurance may not cover you for “vacancy exclusion” because a vacant home could be more vulnerable to damage such as broken glass, break-ins or water damage. So it’s important to make sure you’re covered.
As for your personal effects, generally your home insurance policy covers your belongings throughout the transition when you are moving within British Columbia. If you need to have them in storage for a short time when your moving dates don’t match, that is usually covered, but it’s important to check on that with your insurer.
That could happen if you’re planning on doing renovations before moving into your new home because, for example, you are now working from home and need more or re-distributed space. Whether it’s a DIY project or you’re having the renovations done by a contractor, it’s important to make sure you have the right coverage in effect — perhaps construction coverage — because if something happens you don’t want the insurer to deny a claim.
Home insurance is flexible enough to cover more than one house at the same time, if necessary. It’s easy to arrange, and just as easy to update once you’ve made the move. The most important step is the first one:
Remember to ask these questions before completing the transaction.
That Mount Seymour and, by extension parkway and provincial park and everything called Seymour in B.C., were named after Frederick Seymour, who was the first Governor of mainland British Columbia and Vancouver Island — from 1866 until his death at the age of 48 in 1869?
Real Estate Monthly Statistics
The following statistics for West Vancouver, North Vancouver, Vancouver West and Vancouver East
compare April 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.
May virtual events calendar
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 May:
Until May 9
Bill Reid Gallery
Indigenous History in Colour — solo exhibition by Luke Parnell
https://www.billreidgallery.ca
May 14 - June 30
BC Virtual Spot Prawn Festival — main event May 29 at 7 p.m.
Prawn lovers enjoying a chance to cook a three-course dinner with BC spot prawns as the stars and tutorials by CTS chef members from three BC regions, hosted by Lien Yeung, CBC Vancouver News
www.eventbrite.ca/e/spot-prawn-festival-2021
Indigenous History in Colour — solo exhibition by Luke Parnell
https://www.billreidgallery.ca
May 14 - June 30
BC Virtual Spot Prawn Festival — main event May 29 at 7 p.m.
Prawn lovers enjoying a chance to cook a three-course dinner with BC spot prawns as the stars and tutorials by CTS chef members from three BC regions, hosted by Lien Yeung, CBC Vancouver News
www.eventbrite.ca/e/spot-prawn-festival-2021
Health and Happiness Workshop — 7 p.m.
Until June 30
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
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
Home Chefs
Virtual Food And Drink Events and Classes
Spicing up your kitchen with online cooking and mixology classes, webinars and history lessons, whether making pasta from scratch or perfectly pairing wine and cheese, for an epic epicurean experience
www.eventbrite.ca/c/home-chefs-virtual-food-and-drink-events
Buckingham Palace
A virtual tour of the official residence of Queen Elizabeth, the focus of many moments of national celebration — jubilees, weddings, VE Day and the annual Trooping the Colour on The Queen's official birthday
www.royal.uk/virtual-tours-buckingham-palace
Capilano Suspension Bridge
Capilano Suspension Bridge, Treetops Adventure and the exciting new Cliffwalk — appreciate nature from three breathtaking perspectives
capilano-suspension-bridge-park
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
Family Day At MOV
grouse-mountain-the-peak-of-vancouver
Family Day At MOV
The museum’s newest exhibition, A Seat at the Table, exploring historical and contemporary stories of Chinese Canadians in BC and their struggles for belonging, using food and restaurant culture as an entry point to the great diversity of immigrant experience and communities
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
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.
Virtual programming at your favourite library
West Vancouver
North Vancouver City
North Vancouver District
City of Vancouver
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.
Virtual programming at your favourite library
West Vancouver
North Vancouver City
North Vancouver District
City of Vancouver
