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August 2020

Found 13 blog entries for August 2020.

Stunning Corner Unit in Highly Desirable Cook Street Village

Welcome to 310 - 1101 Hilda street, a stunning southeast corner unit condo in highly desirable Cook Street Village.  

With well over 1000 square feet you will enjoy a spacious family room with a cozy fireplace and loads of natural light that lead out to your private enclosed balcony.

Perfect for gardening, especially tropicals, or painting, yoga, or even a cozy place to enjoy a morning coffee while you take in the large swaying trees that create a canopy in the summer while allowing loads of light in the winter.  

Another deck is also off the great room if you prefer an open air space and looks out to the quiet peaceful neighborhood below.  

The tastefully updated

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Top Floor South East Corner Unit Located Between Cook Street Village and the Inner Harbour

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Welcome to 403 935 Fairfield Road a top floor South East quiet corner condo conveniently located between Cook Street Village and the Inner Harbour.

Arguably the best unit in the building with soaring views of spectacular sun rises and sun sets, city horizon, ocean glimpses and mountains beyond. 

This spacious condo boasts over 1100 square feet and has loads of natural light and offers complete privacy as the landscape beyond creates a green canvas free from windows and buildings looking in on you. 

In an adult oriented building this condo is in immaculate condition and updated with extra built in custom designed cabinetry, with updated

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Canadian Retail Sales (June) - August 21, 2020

Another good news report. Retail sales were up for a second consecutive month in June by 24% on a seasonally-adjusted basis, this follows a 21% rise in May. Sales were up in all subsectors, with growth primarily led by motor vehicle and parts dealers, as well as clothing. Retail sales in June were 1.3% higher than pre-pandemic levels in February. The June report puts second-quarter retail sales at 13% below the first-quarter report.    

Sales were up in all provinces in June, the most notable increases were in Ontario (34%), Quebec (24%), Nova Scotia (23%) and Alberta (19%). In BC, seasonally-adjusted retail sales were up by 13% ($7.4 billion) and by 18% ($3.4 billion) in Vancouver. Retail

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The Perfect 3 Bed 3 Bath at The Gates on The Beautiful Bear Mountain Resort Community


Welcome to 'The Gates' a townhouse complex on the Beautiful Bear Mountain Resort Community.  

The perfect layout for ease of life this three bed three bath townhouse with an extra-large driveway, two-car garage, and a private sun-drenched back yard is perfect for a family, retirement, or even an income-producing property.  

Surrounded by million-dollar homes you won't find a smarter purchase.  

Master on the main with four piece ensuite and walk-in closet, open concept kitchen, and dining room leads out to your level entry patio doors and yard.  A second bathroom and laundry on the main.  

Up you will find two additional very large bedrooms,

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Executive Rancher in Hanington Creek Estates!

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Welcome to Hanington Creek Estates!

This 2007 built 3 bed, 3 bath home is located in a park-like setting with creeks, trees, and the peace and quiet of nature right at your doorstep. yet close to all the amenities of the big box stores and great restaurants.   

Main level living with a well thought out open concept floorplan is great for entertaining and sits on a very large lot with ample sunshine and a private patio for those upcoming warm summer night gatherings.

This home has two large-sized bedrooms up plus a HUGE master bedroom with 4 piece ensuite and walk-in closet.   

A double garage, interlocking driveway pavers, fenced and level yards plus a 3 ft crawlspace for any

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bcrea stats release

Strong Recovery Continues for BC Housing Markets

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Vancouver, BC – August 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 10,090 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July 2020, an increase of 26.6 percent from July 2019. The average MLS® residential price in BC was $770,810, a 12.9 percent increase from $682,702 recorded the previous year. Total sales dollar volume in July was $7.8 billion, a 43 percent increase over 2019.

“The strong recovery in sales activity continued in July,” said BCREA Chief Economist Brendon Ogmundson. “Increased demand for more living space combined with an undersupplied market is producing significant upward pressure on home prices,

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Canadian Housing Starts (July) - August 11, 2020

Canadian housing starts increased by 16% m/m to 245,604 units in July at a seasonally adjusted annual rate (SAAR), which was well above pre-COVID levels. This brought up the national housing starts six-month average to 204,376 units SAAR. Housing starts were up across the country with notable growth in the Prairies and Atlantic Canada.  

In BC, housing starts were up 9% m/m to 42,381 units SAAR in July, following an increase of 38,840 in June. The increase was primarily driven by the multi-unit segment. Housing starts in July are back at pre-COVID levels. That being said, housing starts in the province showed resilience during the height of the pandemic when restrictions were the tightest. In

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Single family home sales returned to near-normal levels this July with 574 sales, only 1 unit sale over June 2020, and 20 sales over July the previous year. Condos on the other hand still struggle as buyers seem to look to get out of multi-family building situations. July saw a 14% decrease in condo sales compared to the same month last year and townhouse sales decreased by 16%. All together sales were down 4% year over year with a grand total of 892 properties sold.

While sales levels begin to return to normal, inventory is still low (on a provincial level). The pressure from low inventory and returning demand from buyers has led to an increase in price across many market areas including Vancouver Island. The board-wide benchmark price for single

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July 2020 continued to be unusually active in the Victoria Real Estate market, especially in the single family home segment. Sales of single family homes were up a whopping 61.1% compared to July last year while condos sales also rose by 11.2% in the same year over year comparison. There were 979 total board-wide (559 SFD, 239 condos) sales in July, altogether up 21.2% over June 2020 and 38.7% up from last year. These are some very big numbers for the month and if nothing else, great indicators that this is not a normal market.

The increase in activity also saw many new listings coming on to the market but not enough to outpace the number of sales. July saw a 10% decrease in available listings year over year and a 1.7% decrease compared to June

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Canadian Employment (July) - August 7, 2020

Canadian employment grew by 419,000 jobs in July (2.4%, m/m). Combined with gains in May of 290,000 and gains in June of 953,000, this brought national employment to within 1.3 million of the pre-COVID February level. The national unemployment rate fell by 1.4 percentage points to 10.9 per cent from the previous month. Most of the employment gains in July were in part-time work. Compared to the same month last year, Canadian employment was down by 6.3% (-1.2 million). 

Regionally, all provinces reported an increase in employment except New Brunswick, where employment was little changed. The strongest gains were in Ontario which were almost all in part-time work, reflecting the later easing of

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