vancouver real estate: homes & condos for sale | faith ......sale in yaletown. the heady prices...

Research by The Faith Wilson Group

VANCOUVERCONDO REPORT

YOUR EASTSIDE & WESTSIDE COMBINED CONDO MARKET ANALYSIS

*Listing information accurate as of January 1st, 2018This communication is not intended to solicit properties already listed.

OCT, NOV & DEC 2017

0%

*Listing information accurate as of January 1st, 2018

INCREASEIN NEW LISTINGS

vs. Nov 2017

51%

HPIWESTSIDE BENCHMARK

PRICE FOR DEC:

$807,10020% INCREASE

vs. Dec 2016

1,3621,5962,046

Q4 2017:

Q3 2017:

Q2 2017:

Unit Sales:

24% INCREASE vs. Q4 2016

1,7981,449

Q4 2017:

Q4 2016:

Inventory going into Q4:

1%INCREASEvs. Sep of 2017

1 Bed / 1 Bath Median Sold Price Per Sq.Ft.$1,016

Faith’s Exclusive Vancouver Condo Analysis

Over the past year we have heard and seen a lot of political action and public angst about foreign-home buyers in Metro Vancouver. Since an unprecedented move last August, foreign buyers of homes in the

region have been subject to a heavy-handed 15 per cent tax on their purchase.

Yet Statistics Canada recently confirmed that foreigners represent a small fraction of homebuyers: less than 1 per cent across Canada and 4.9 per cent of the Metro Vancouver market in 2017.

Based on total Greater Vancouver housing sales in 2017, that represents less than 1,800 buyers, and most of these were purchasing mid-priced condominiums, not big, fancy houses.

It is not mysterious foreign buyers who are helping to drive housing sales in Metro Vancouver. It is new Canadians.

In the past fi ve years, more than 150,000 people from other countries have moved to B.C. And, like most Canadians, they aspire to own a home.

Last year, British Columbia welcomed in 36,775 immigrants, the vast majority of whom moved into the Lower Mainland. In the same period there were 35,993 homes sales in Metro Vancouver. This is not a coincidence.

Recent immigrants are very likely to buy a home. A federal study, for instance, showed that 7 out of 10 immigrants who arrived in Canada between 2006 and 2011 had quickly achieved homeownership. Recent permanent immigrants from China and Southeast Asia to Metro Vancouver have homeownership rates of 81 per cent and 75 per cent, respectively, compared to an overall ownership average of 67 per cent.

This surge of home buying will continue because Canada has raised the permanent immigration levels from around 270,000 this year to 340,000 annually by 2020, just two years from now.

Take a ride on SkyTrain in the morning rush hour. Drop by your local school or community centre. The faces of Metro Vancouver have changed forever. It is these new Canadians, striving to contribute, who have and will help shape one of greatest urban centres in the world.

These are not foreign buyers. They are your new neighbours, the new Canadians who will defi ne Metro Vancouver’s housing market for decades

to come. And they should be welcomed the same as we hope to be if we relocated our family to a new country.

At Faith Wilson Group we have worked with new Canadians for more than 20 years. Many are now long-time clients as both buyers and sellers. A multilingual staff, our international marketing programs, an award-winning Internet presence and our team’s neighbourhood-by-neighbourhood knowledge are all part of our ongoing effort to engage with and welcome newcomers to the best of Metro Vancouver.

Sincerely, Faith Wilson

New Canadians, not foreign buyers, the real market driver

The information included in this report is based on residential sales data and statistical information sourced and compiled from the Real Estate Board of Greater Vancouver’s MLXchange database and the REALTOR Link® website. The information is current as of January 01 2018 and is subject to change by the REBGV. Faith Wilson Realty Group Inc., makes no guarantees as to the accuracy of the information provided and is not responsible for changes, errors or omissions to this information.

Finding the right home in the right neighbourhood can be a challenge. That is why we have our exclusive Neighbourhood Profi les available for you on our web site. Each profi le features: • Information on the neighbourhood's

schools, housing, recreation, shopping, restaurants, transportation and more.

• A summary of CURRENT active listings, arranged by property type and showing the number of units available and the median asking price.

• Up-to-date MLS® HPI Benchmark prices AND price changes from one month to fi ve years - a rich resource to instantly see the price trend of the type of home you are interested in, within your specifi c neighbourhood.

To do so, visit FaithWilsonGroup.com and fi nd out about Vancouver Westside, Eastside, Downtown, North Vancouver, South Surrey and Richmond neighbourhoods. With more coming soon.

Discover YOUR neighbourhood's real estate market activity,

trends & benchmark pricing.


If you are planning to purchase a home in the near future, be mindful of the new stress test that could affect how much you can borrow. The latest change in mortgage lending guidelines affects home buyers that have 20% or more down payment. If you have less than 20% down, there is no change to the amount of the mortgage that you qualify for.

As of January 1, 2018, residential mortgage borrowers with a down payment of more than 20% need to qualify at a signifi cantly higher rate when they do business with a

federally-regulated mortgage lender. You still receive a regular discounted mortgage rate, but you must qualify based on a higher rate. This was offi cially announced by the Offi ce of the Superintendent of Financial Institution (OSFI) as part of fi nal revisions to so-called Guideline B-20 on residential mortgage underwriting and procedures. The view of OSFI is that such a move was necessary to further safeguard Canadian households and the fi nancial system against future interest rate increases.

The higher qualifying rate clearly represents a very stringent ‘Stress Test’. For example, to be able to buy the same average home in Canada (slightly over $500,000) as of January

1st, 2018, a buyer is now required to have a minimum income that is $16,000, or 18%, higher than is currently needed based on the increase from the current fi ve-year rate (3.49%) to a rate that’s 2 percentage points higher.

As a side note, the new rule does not require fi nancial institutions to re-qualify borrowers at the end of their term if they renew their mortgage at the same institution.

For expert advice regarding your mortgage needs our RBC mortgage specialists are here to help.

~ Kevin Lutz, RBC Regional Manager

Understanding The New Mortgage Stress Test Rules

Lorraine GingrasLorraine GingrasMortgage SpecialistRBC Royal [email protected]

Whether you need to borrow a little or a lot,we have an option that can suit your situation.For more information on customizing a mortgage for your needs, or to apply:

• Visit your local RBC® branch• Locate a mobile mortgage specialist online at www.rbcroyalbank.com/mortgages• Call 1-877-769-2570 today!

Mortgages 101: 2018 New Mortgage Price GuideQualifying rate stress test to all uninsured mortgages

Uninsured mortgage consumers must now qualify using a new minimum qualifying rate. The rate will be the greater of the fi ve-year benchmark rate published by the Bank of Canada OR the lender contractual mortgage rate +2.0%.

How does this affect the mortgage consumer with a down payment/equity of 20% or more?The biggest impact will be on the amount for which the home buyer/owner will be able to qualify. Previously, the home buyer/owner qualifi ed at the contract rate offered by the lender. While the actual mortgage payment will still be paid at the contract rate, a higher calculation will be used for qualifi cation purposes.

Insured Mortgage/High-Ratio MortgageMORTGAGE INSURANCE IS Mandatory with less than 20% down payment

UnInsured Mortgage/Conventional Mortgage20% or greater down payment

Contract Ratethe interest rate offered by the lender to the consumer

Benchmark Rate/Qualifying RateFive-year benchmark rate published by the Bank of Canada (currently 4.89%) OR Contract Rate +2%, whichever is greater

LTV (Loan-To-Value)the size of a mortgage compared to the value of the property securing the loan

MORTGAGE TERMS YOU NEED TO KNOW

This chart is a guide and is used for illustration purposes only. Based on a 30 year amortization, 20 percent down payment, 5 year term, qualifying at the rate of 3.5% and 5.5% in January 2018.

$80,000

$100,000

$150,000

$200,000

$725,000

$905,000

$1,360,000

$1,800,000

$575,000

$720,000

$1,080,000

$1,440,000

Purchases with 20% down payment: Maximum allowable amount

HOUSEHOLD INCOME Maximum Purchase Price TODAY

Maximum Purchase Price JANUARY 2018


Price Segment ($) New Listings Added Unit Sales

0 – 200,000 0 0 0%

200,001 – 250,000 0 0 0%

250,001 – 300,000 3 2 67%

300,001 – 350,000 2 3 150%

350,001 – 400,000 13 8 62%

400,001 – 450,000 23 23 100%

450,001 – 500,000 56 26 46%

500,001 – 550,000 41 44 107%

550,001 – 600,000 76 55 72%

600,001 – 650,000 49 43 88%

650,001 – 700,000 67 51 76%

700,001 – 800,000 107 86 80%

800,001 – 900,000 64 47 73%

900,001 – 1,000,000 65 50 77%

1,000,001 – 1,250,000 68 55 81%

1,250,001 – 1,500,000 55 28 51%

1,500,001 – 1,750,000 28 13 46%

1,750,001 – 2,000,000 31 8 26%

2,000,001 – 2,250,000 11 5 45%

2,250,001 – 2,500,000 15 4 27%

2,500,001 + 40 14 35%

Totals 814 565 69%

LISTING AND SALES ACTIVITY BY PRICE SEGMENT

THE REAL VANCOUVER CONDO RESULTS: OCTOBER 2017

SALES PRICE MONTHLY TREND

FAITH’S KEY INSIGHTS:■ In October, two of the fi ve most expensive homes sold in Vancouver were

condominiums: a $5.28 million two-bedroom suite on the 43rd fl oor of a Seymour Street downtown tower; and a $5.25 million, three-bedroom pre-sale in Yaletown. The heady prices should not be a surprise in a city where the condominium is now the market sales and price increase leader. In October, the benchmark price of a Vancouver Westside condominium apartment reached $806,500, and increased to $538,500 on the Eastside, Vancouver condo prices are up an average of 18% from a year earlier to an unprecedented benchmark of $773,500. many

■ In October, 565 condo apartments sold in Vancouver, with sales up 18.9% on the Westside and down -7% on the Eastside. More condos sold in the city during the month than sales of detached houses (212) and townhouses (72) combined. A typical new listing for a condo sold in just 8 days.

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Sales

Price

$1,000,000

$900,000

$800,000

$700,000

$600,000

$500,000

$400,000

MAY JUN JUL AUG SEP OCT

60

50

40

30

20

10

DAYS ON MARKET MONTHLY TREND

Days

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Sales-to-New-Listings Ratio

MAY JUN JUL AUG SEP OCT

$833,522

$694,000

$867,950

$699,000

$873,915

$698,000

$861,321

$711,000

20

8

15

8

19

8

20

10

20

9

20

9

OCTOBER - VANCOUVER CONDO REPORT

$885,292

$729,500

$896,477

$731,000


THE REAL NEIGHBOURHOOD RESULTS: OCT 2017

SALES AND BENCHMARKPRICES BY NEIGHBOURHOOD

BENCHMARK PRICE CHANGE (%)

MLS® Neighbourhood Unit Sales HPI Benchmark Price 1 Month 3 Months

Champlain Heights 13 $705,100.00 2.93 4.57

Collingwood VE 25 $471,300.00 -0.76 1.39

Downtown VE 12 $710,300.00 0.06 -1.38

Fraser VE 7 $551,500.00 -0.13 6.68

Fraserview VE 3 $540,900.00 3.59 6.08

Grandview VE 8 $510,700.00 2.07 10.82

Hastings 13 $470,700.00 0.28 -1.36

Hastings East 0 $456,500.00 3.33 11.26

Killarney VE 1 $433,600.00 -0.04 3.9

Knight 2 $715,200.00 1.84 5.91

Main 5 $710,600.00 0.29 6.02

Mount Pleasant VE 70 $544,500.00 0 0.63

Renfrew VE 2 $560,800.00 2.14 12.38

Victoria VE 6 $537,400.00 2.1 10.02

Vancouver East 168 $538,500.00 0.54 2.63

Cambie 9 $674,800.00 -1.61 3.2

Coal Harbour 21 $1,065,900.00 2.36 7.85

Downtown VW 89 $726,600.00 3.54 4.72

Dunbar 0 $709,300.00 2.06 3.24

Fairview VW 37 $785,100.00 0.73 1.73

False Creek 32 $861,500.00 0.09 1.99

Kerrisdale 9 $905,000.00 1.04 2.98

Kitsilano 43 $617,500.00 1.56 -0.09

Marpole 15 $571,700.00 -0.42 2.96

Mount Pleasant VW 7 $587,500.00 1.82 3.87

Oakridge VW 5 $1,082,400.00 -1.7 2.74

Point Grey 3 $612,300.00 1.11 2.85

Quilchena 5 $1,135,600.00 1.58 4.37

S.W. Marine 1 $494,900.00 0.52 4.74

Shaughnessy 0 $684,700.00 2.45 6.29

South Cambie 6 $923,700.00 -0.16 3.43

South Granville 0 $969,100.00 -2.42 3.05

Southlands 0 $815,600.00 -0.8 2.84

University VW 24 $931,400.00 -0.18 5.29

West End VW 40 $667,300.00 1.89 4.49

Yaletown 51 $842,900.00 -1.33 -2.41

Vancouver West 397 $806,500.00 1.32 2.91

Vancouver Total 565 $753,500 1.12 2.89

May 783 747 -4.6%June 698 650 -6.9%July 564 581 3.0%August 426 513 21.8%September 439 496 13.0%October 423 565 33.6%

Totals 3,333 3,552 6.6%

2016 2017 CHANGEUNIT SALES (BY MONTH)

OCTOBER - VANCOUVER CONDO REPORT

THE REAL NEIGHBOURHOOD RESULTS: OCT 2017

14 Important Questions – Sellers need answered before hiring a real estate agent to market & sell your home!

Literally tens of thousands of dollars are riding on the agent you hire to market, present and negotiate the sale of your Vancouver home. And let’s face it - in real estate, as in life - not all things are created equal. Honest answers to these questions from the agents you are interviewing will help you to decide whom to entrust to market and sell your home for top dollar with the least amount of hassle.

1 What makes you different? Why should I list with you? What unique strategies do you use?

Today, it is a much tougher and more dynamic real estate market than it was even 5 years ago. A successful agent stays up-to-speed on the complex, multi-dimensional marketing needed to reach all buyers, including mobile and internet-savvy consumers and international prospects.

2 How many properties have you marketed and sold in the last 12 months?

Did you know that only 10% of Vancouver agents sold more than 10 homes in the last 12 months? Working with top producers ensures you are receiving the benefi t of their experience, resources and their proven plan to deliver a successful sale.

3 How many contracts have you negotiated in the last 10 years?

The more contracts negotiated and the more exposure to cross cultural scenarios translate into better advice which delivers better results for you.

4 Do you work solo or with a team?

There are simply too many steps in the full process for a solo agent to do a great job of everything. A team approach is the only way to ensure you receive the attention to detail and the full service and consistent coverage that you deserve.

5 How do you manage all showings across all of your listings?

Consider that taking off the basic two weeks of holidays, stats and 1 day per week means your solo agent misses 74 days (20%) of the year to meet face to face with prospective buyers and highlight the best of your home. Does the agent have licensed property showing specialists as part of their team or do they miss opportunities to show and sell?

6 What is your pricing strategy for my home?

A realistic, market-based price point will attract the full scope of buyers and not just those looking to “steal the deal”. Setting the right price requires skill, experience, plus local market trends knowledge.

7 How long, on average, does it take your listings to sell?

Ask if the agent tends to sell a home faster or slower than average and compare that answer to your goals; this is an indicator of their expertise.

...continued on



0 – 200,000 0 0 0%

200,001 – 250,000 1 1 100%

250,001 – 300,000 2 2 100%

300,001 – 350,000 6 1 17%

350,001 – 400,000 14 9 64%

400,001 – 450,000 19 17 89%

450,001 – 500,000 44 23 52%

500,001 – 550,000 41 50 122%

550,001 – 600,000 63 38 60%

600,001 – 650,000 53 33 62%

650,001 – 700,000 56 51 91%

700,001 – 800,000 67 54 81%

800,001 – 900,000 76 54 71%

900,001 – 1,000,000 45 21 47%

1,000,001 – 1,250,000 65 40 62%

1,250,001 – 1,500,000 47 15 32%

1,500,001 – 1,750,000 24 14 58%

1,750,001 – 2,000,000 17 5 29%

2,000,001 – 2,250,000 3 4 133%

2,250,001 – 2,500,000 7 1 14%

2,500,001 + 20 8 40%

Totals 670 441 66%


THE REAL VANCOUVER CONDO RESULTS: NOVEMBER 2017


FAITH’S KEY INSIGHTS:■ Part of the reason for the incredible market performance is that investors

have fallen as much in love with condos as fi rst-time buyers, families, downsizers and retirees. And why not? A typical Vancouver condo apartment has increased in value by 65% in the past three years and is up by more than $18,000 in the past three months. And investor condos can be quickly rented for steady, long-term income.

■ Now a condominium shortage is looming that could push values even higher. Despite record construction, the inventory of new, unsold condos across all of Metro Vancouver has plunged to just 1,800 units, down 84% from the 2013 peak. As well, 11 months into this year, condominium starts in the city of Vancouver are 58% lower than a year earlier. In November, new listings for resale condos were down 17.7% from November 2016 while benchmark prices were up 20% to $757,400. The message to buyers is clear: the value of condominiums in the city of Vancouver will continue to rise as the demand increases and the supply declines. The unprecedented surge of Vancouver’s condo market may just be getting stared.

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Sales

Price

$1,000,000

$900,000

$800,000

$700,000

$600,000

$500,000

$400,000

JUN JUL AUG SEP OCT NOV

60

50

40

30

20

10


Days

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JUN JUL AUG SEP OCT NOV

$867,950

$699,000

$873,915

$698,000

$861,321

$711,000

$885,292

$729,500

$896,477

$731,000

$871,910

$709,000

15

8

19

8

20

10

20

9

20

9

18

9

NOVEMBER - VANCOUVER CONDO REPORT


THE REAL NEIGHBOURHOOD RESULTS: NOV 2017




Champlain Heights 15 $711,000 0.84 5.85

Collingwood VE 23 $478,200 1.45 1.18

Downtown VE 7 $718,200 1.11 1.4

Fraser VE 15 $551,500 0 4.98

Fraserview VE 4 $549,200 1.54 5.94

Grandview VE 6 $514,800 0.8 6.26

Hastings 8 $482,600 2.52 2.15

Hastings East 0 $452,800 -0.81 5.01

Killarney VE 2 $438,200 1.06 3.95

Knight 4 $711,900 -0.46 4.29

Main 4 $708,600 -0.29 3.59

Mount Pleasant VE 48 $538,500 -1.1 -0.35

Renfrew VE 3 $560,400 -0.07 5.1

Victoria VE 3 $541,800 0.83 6.69

Vancouver East 142 $540,300 0.34 2.05

Cambie 6 $671,700 -0.46 0.5

Coal Harbour 16 $1,085,400 1.83 7.38

Downtown VW 71 $740,700 1.93 6.47

Dunbar 1 $689,900 -2.72 2.12

Fairview VW 33 $791,600 0.83 2.36

False Creek 16 $836,600 -2.89 -1.64

Kerrisdale 3 $893,800 -1.24 1.36

Kitsilano 32 $633,300 2.56 4.07

Marpole 7 $567,800 -0.69 1.98

Mount Pleasant VW 3 $565,900 -3.67 0.64

Oakridge VW 6 $1,072,200 -0.94 -1.38

Point Grey 4 $603,000 -1.51 2.33

Quilchena 3 $1,122,600 -1.15 1.01

S.W. Marine 0 $486,900 -1.61 0.84

Shaughnessy 0 $648,800 -5.25 -1.57

South Cambie 0 $893,000 -3.32 -1.46

South Granville 0 $961,900 -0.74 -1.72

Southlands 1 $814,900 -0.08 1.69

University VW 10 $899,800 -3.39 -0.63

West End VW 44 $673,700 0.96 3.53

Yaletown 43 $847,300 0.52 -0.86

Vancouver West 299 $811,200 0.57 3.01

Vancouver Total 441 $757,400 0.52 2.80

June 698 650 -6.9%July 564 581 3.0%August 426 519 21.8%September 439 496 13.0%October 423 565 33.6%November 466 441 -5.4%DecemberTotals 3016 3252 7.8%


NOVEMBER - VANCOUVER CONDO REPORT

THE REAL NEIGHBOURHOOD RESULTS: NOV 2017

8 Beyond posting my home on MLS and its related pickup sites, where will my home be marketed online?

Today, 92% of home buyers use the internet during their home buying process and nearly half of buyers look online as their fi rst step. Does he/she have a website dedicated exclusively to showcasing their clients’ homes? Does the agent’s internet marketing plan assure accessibility in Chinese and optimization for mobile devices?

9 Do you provide references from past clients?

A trustworthy agent will be delighted to provide references from satisfi ed clients for you to review.

10 What homes have you sold in my area?

An informed agent will provide you with their performance in your neighbourhood and area.

11 Do you provide a written schedule of the services you deliver?

A set of performance promises will clearly detail what you can expect from the agent, including recourse if they don’t deliver.

12 Do you provide regular, updated market evaluations on my home?

Once your home is listed, how often do you update me on relevant market activity and overview?

13 What is your marketing budget for my home so as to stand out versus comparable listings?

What percent of the agent’s commission will be dedicated to the marketing budget and how does this compare?

14 What marketing media mix will you use to display my home to the widest array of potential buyers?

Successful agents use a mix of search advertising, social media plus web sites for Vancouver, China, the U.S. and other international markets, and print media.

In closing, the sale of your home is likely one of the largest fi nancial decisions you will make. The right agent with the skills, the plans and the commitment will deliver distinctly better results.

We present these questions for your consideration in order that you make the right decision for you and your family. Please use these questions as a foundation for making the right choice for your needs.

14 Important Questions – Sellers need answered before hiring a real estate agent to market & sell your home!

...continuing from Page 3



0 – 200,000 0 0 0%

200,001 – 250,000 1 0 0%

250,001 – 300,000 2 1 50%

300,001 – 350,000 2 4 200%

350,001 – 400,000 10 5 50%

400,001 – 450,000 10 9 90%

450,001 – 500,000 17 19 112%

500,001 – 550,000 20 23 115%

550,001 – 600,000 28 21 75%

600,001 – 650,000 21 30 143%

650,001 – 700,000 27 28 104%

700,001 – 800,000 27 34 126%

800,001 – 900,000 28 31 111%

900,001 – 1,000,000 32 21 66%

1,000,001 – 1,250,000 25 30 120%

1,250,001 – 1,500,000 23 11 48%

1,500,001 – 1,750,000 4 3 75%

1,750,001 – 2,000,000 9 5 56%

2,000,001 – 2,250,000 3 3 100%

2,250,001 – 2,500,000 6 4 67%

2,500,001 + 19 4 21%

Totals 314 286 91%


THE REAL VANCOUVER CONDO RESULTS: DECEMBER 2017


FAITH’S KEY INSIGHTS:■ In the last six months of 2017, condominium sales in Vancouver averaged

400 a month, more than 10 every day, at median prices topping $700,000 per home. It is near breathtaking performance that, frankly, has amazed even real estate veterans. In December, the year was capped with a 14.4% sales increase from the same month in 2016. The momentum appears ready to surge into 2018 as buyers have embraced condo living — and investment — in huge numbers. The building boom has so far kept pace, with at least 20,000 new condos under construction, more than 80% of which sold before they were even out of the ground. It is not uncommon to see new concrete condos selling for $1,200 to $1,400 per square feet or more. One Japanese-designed complex in the downtown has condos starting to pre-sell with entry-level prices from $3 million.

■ With the rental vacancy rate near zero and rents increasing, condominiums offer a degree of security in Vancouver for fi rst-time buyers, and a surprisingly affordable home for many young families. For, despite all the action, it is still possible to buy a Vancouver condo for $545,000, which was the benchmark price in half of the city in December. Now that is exciting.

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Sales

Price

$1,000,000

$900,000

$800,000

$700,000

$600,000

$500,000

$400,000

JUL AUG SEP OCT NOV DEC

60

50

40

30

20

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Days

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JUL AUG SEP OCT NOV DEC

$873,915

$698,000

$861,321

$711,000

$885,292

$729,500

$896,477

$731,000

$871,910

$709,000

$847,221

$709,000

19

8

20

10

20

9

20

9

18

9

17

9

DECEMBER - VANCOUVER CONDO REPORT


THE REAL NEIGHBOURHOOD RESULTS: DEC 2017





Collingwood VE 18 $484,300 1.28 1.97

Downtown VE 4 $724,000 0.81 1.99

Fraser VE 5 $552,700 0.23 0.1

Fraserview VE 6 $556,900 1.4 6.66

Grandview VE 10 $515,000 0.04 2.93

Hastings 10 $484,400 0.38 3.19

Hastings East 0 $457,700 1.09 3.61

Killarney VE 2 $446,500 1.9 2.94

Knight 2 $713,000 0.14 1.51

Main 1 $710,400 0.26 0.26

Mount Pleasant VE 18 $544,100 1.05 -0.06

Renfrew VE 1 $566,600 1.1 3.19

Victoria VE 2 $543,800 0.36 3.32

Vancouver East 93 $545,600 0.97 1.86

Cambie 3 $681,100 1.39 -0.7

Coal Harbour 11 $1,090,500 0.47 4.72

Downtown VW 52 $718,800 -2.96 2.42

Dunbar 1 $679,100 -1.57 -2.27

Fairview VW 18 $800,700 1.15 2.74

False Creek 11 $838,100 0.17 -2.64

Kerrisdale 0 $868,400 -2.84 -3.05

Kitsilano 23 $633,500 0.04 4.21

Marpole 7 $576,800 1.58 0.46

Mount Pleasant VW 4 $564,100 -0.32 -2.23

Oakridge VW 2 $1,070,500 -0.16 -2.78

Point Grey 1 $588,000 -2.49 -2.89

Quilchena 1 $1,094,600 -2.49 -2.09

S.W. Marine 0 $476,000 -2.23 -3.31

Shaughnessy 0 $630,800 -2.77 -5.62

South Cambie 1 $901,800 0.98 -2.53

South Granville 1 $979,700 1.85 -1.35

Southlands 0 $788,300 -3.28 -4.13

University VW 14 $894,100 -0.64 -4.18

West End VW 21 $679,900 0.92 3.81

Yaletown 22 $858,600 1.34 0.51

Vancouver West 193 $807,100 -0.49 1.39

Vancouver Total 286 $685,400 0.69 6.08

June 698 650 -6.9%July 564 581 3.0%August 426 519 21.8%September 439 496 13.0%October 423 565 33.6%November 466 441 -5.4%December 250 286 14.4%Totals 3,264 3,608 10.54%


DECEMBER - VANCOUVER CONDO REPORT

THE REAL NEIGHBOURHOOD RESULTS: DEC 2017

Attention First Time Buyers – Want to Increase Your Net Worth?

Scenario 1: $425,000 CondoPurchase Price: $425,000 • Down Payment: 5% = $21,250 • Closing Costs: ~$1,200BC Property Transfer Tax: $0 for properties of $475,000 and less if registered on or

before Feb 21 2017 or $500,000 and less if registered after Feb 22 2017Your Total Investment: $22,450 • BC HOME P'ship Down Payment: 5% = $21,250

Total Mortgage Amount (includes CMHC Premium): $391,680

Scenario 2: $750,000 CondoPurchase Price: $750,000 • Down Payment: 5% = $37,500 • Closing Costs: ~$1,200

BC Property Transfer Tax: $13,000Your Total Investment: $51,700 • BC HOME P'ship Down Payment: 5% = $37,500

Total Mortgage Amount (includes CMHC Premium): $691,200

The BC HOME program offers an opportunity for a fi rst time buyer to achieve a signifi cant return over the next 5 years. This opportunity could apply to all fi rst-time buyers, whether it's you, you and your partner, your brother or your sister, your daughter or son, or your granddaughter or grandson.

Step 1. Assemble the investment: the down payment and transaction expenses. Potential sources include: Savings, RRSPs, parents, early inheritance, selling under-performing investments or non-essential “toys”.

Step 2. Qualify for the mortgage – our mortgage broker Lorraine can help with that.

Step 3. Determine the level of risk you are comfortable with. Our examples assume a growth rate that is half of the actual change over the past 5 years.

Two last points to consider: you are paying yourself vs. rent for the next 60 months; capital gains on your primary residence is TAX FREE.

As you can see, the numbers speak for themselves. Call us to work out your plan.

Assuming that:• You qualify for the mortgage

amount• 2.99% 5-year mortgage, 25 years

amortization• You qualify for the HOME Program• Maintain the mortgage for 60

months• Sell in 60th month & pay back

HOME loan in full, interest free• Property value average annual growth =

3.55%

Assuming that:• You qualify for the mortgage

amount• 2.99% 5-year mortgage• You qualify for the HOME Program• Maintain the mortgage for 60

months• Sell in 60th month & pay back

HOME loan in full, interest free• Property value annual average

growth = 3.072% (half that of the past 5 years!)

Your potential results:Increase in equity: $75,098.22Percent increase in equity: 335% (67% pa)Taxes due on amount: $0 - No Capital Gains Tax on primary residence

Your potential results:Increase in equity: $154,199.04Percent increase in equity: 298% (60% pa)Taxes due on amount: $0 - No Capital Gains Tax on primary residence



0 – 200,000 0 0 #DIV/0!

200,001 – 250,000 2 1 50%

250,001 – 300,000 7 5 71%

300,001 – 350,000 10 8 80%

350,001 – 400,000 37 22 59%

400,001 – 450,000 52 51 98%

450,001 – 500,000 117 71 61%

500,001 – 550,000 100 122 122%

550,001 – 600,000 170 119 70%

600,001 – 650,000 122 113 93%

650,001 – 700,000 150 132 88%

700,001 – 800,000 202 188 93%

800,001 – 900,000 168 138 82%

900,001 – 1,000,000 145 97 67%

1,000,001 – 1,250,000 155 131 85%

1,250,001 – 1,500,000 124 59 48%

1,500,001 – 1,750,000 57 34 60%

1,750,001 – 2,000,000 56 21 38%

2,000,001 – 2,250,000 17 12 71%

2,250,001 – 2,500,000 28 10 36%

2,500,001 + 79 28 35%

Totals 1,798 1,362 76%


THE REAL VANCOUVER CONDO RESULTS: Q4 2017

FAITH’S KEY INSIGHTS:■ Vancouver condominium sales were up nearly 20% in Q4, to 1,361 homes,

from Q4 in 2016 and, for the entire year posted 6,491 sales, not a record but down just 5.2% from 2016. The year started off slowly, with sales below year-earlier fi gures through the Q1, but the performance improved as more buyers turned away from more expensive detached houses and townhouses to fl ood into the condominium market. Even with an average 24% increase from a year earlier, the benchmark price of a Vancouver condo in Q4 was around $600,000, less than half the price of a detached house and about $200,000 below current townhouse values.

■ It was remarkable year for Vancouver condo buyers. They were closing on an average of 17 condo apartments a day, despite two mortgage rate increases, a foreign-home buyer tax, an empty home tax, restrictions on short-term rentals for investors and new mortgage rules that made it more diffi cult to qualify for home loans. The rewards apparently made it all worthwhile: the opportunity for homeownership in one of the world’s most livable cities and the steady appreciation in value, and qualify, that has characterized Vancouver condos for years.


Q4 - VANCOUVER CONDO REPORT

SALES PRICE QUARTERLY TREND

– Me

dian S

ales P

rice

– Av

erage

Sales

Price

$1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000

$760,603

$605,000

$779,601

$640,000

$864,272

$695,000

$872,939

$711,500

$877,514

$718,900

Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017

70

60

50

40

30

20

10

27

13

22

9

18

8

19

9

19

9

DAYS ON MARKET QUARTERLY TREND

Days

– Me

dian D

ays o

n Mark

et –

Avera

ge Da

ys on

Mark

et

Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017


THE REAL NEIGHBOURHOOD RESULTS: Q4 2017





Collingwood VE 89 $474,900 5.84 25.11

Downtown VE 20 $709,900 7.1 16.93

Fraser VE 24 $552,200 7.59 24.12

Fraserview VE 24 $522,200 6.18 21.51

Grandview VE 27 $500,400 10.4 29.05

Hastings 38 $469,400 5.93 17.33

Hastings East 5 $441,800 10.59 26.12

Killarney VE 3 $433,800 7.79 23.31

Knight 5 $702,300 5.31 25.41

Main 8 $708,600 7.58 30.38

Mount Pleasant VE 115 $544,500 2.68 22.08

Renfrew VE 8 $549,100 12.68 29.17

Victoria VE 8 $526,300 8.74 24.41

Vancouver East 412 $545,600 1.86 25.36

Cambie 19 $681,100 -0.7 21.93

Coal Harbour 48 $1,090,500 4.72 24.25

Downtown VW 227 $718,800 2.42 19.13

Dunbar 2 $679,100 -2.27 16.88

Fairview VW 91 $800,700 2.74 24.87

False Creek 66 $838,100 -2.64 17.38

Kerrisdale 13 $868,400 -3.05 13.87

Kitsilano 101 $633,500 4.21 22.41

Marpole 30 $576,800 0.46 27.46

Mount Pleasant VW 14 $564,100 -2.23 23.48

Oakridge VW 13 $1,070,500 -2.78 17.2

Point Grey 8 $588,000 -2.89 14.95

Quilchena 9 $1,094,600 -2.09 15.1

S.W. Marine 1 $476,000 -3.31 20.21

Shaughnessy 0 $630,800 -5.62 16.01

South Cambie 8 $901,800 -2.53 20.76

South Granville 1 $979,700 -1.35 25.22

Southlands 1 $788,300 -4.13 15.84

University VW 59 $894,100 -4.18 15.66

West End VW 114 $679,900 3.81 22.2

Yaletown 125 $858,600 0.51 18.27

Vancouver West 950 $807,100 1.39 20.25

Vancouver Total 1362 $658,400 6.08 16.68

THE REAL VANCOUVER CONDO REPORT: Q4 2017

Q4 - VANCOUVER CONDO REPORT

Our Advice Is GuaranteedIf you fi nd that your home does not meet your needs within 18 months we’ll sell it for free!* Buying a home is a huge decision — one you literally have to live with! Sometimes, regardless of how rigorous and detailed your home search and your buying process, lifestyle and family evolution hastens a change beyond your original requirements.

When you buy a home through Faith Wilson Group, we strive to fi nd you the perfect home — one you’ll be happy with for years to come. You see, we have many unique systems especially for our buyers which allow us to quickly zero in on exactly what you’re looking for and help you beat out other buyers to the best new listings.

However, even if your optimum home buying decision at this time doesn’t work out, your satisfaction is still guaranteed. We set ourselves apart from other agents by offering our buyers our unique and unparalleled Peace of Mind Buyer’s Guarantee.

Unit Sales (by Quarter)

QUARTERQ1Q2Q3Q4

Year-to-Date Totals

20162,0472,2231,4291,1396,838

20171,4872,0451,5961,3626,491

Change (%)

-27.4%-8.0%11.7%19.6%-5.1%

YEAR-TO-DATE UNIT SALES (BY QUARTER)

*HOW IT WORKS:■ If you fi nd that within 18 months of the completion date the home

you purchased with Faith Wilson Realty Group Inc. does not meet your needs, we guarantee to sell and not charge you the listing portion of the commission.

■ The listing portion of the commission on your fi rst home will be credited to you upon the fi nal reconciliation of your new purchase.

■ To qualify for this guarantee, you must purchase another property of equal or greater value using our services.

Selling one’s home of 25 years is a signifi cant event. Recommended to us by a friend, Faith Wilson and her colleagues sold our townhouse in under two weeks. Professional, responsive and communicative, Faith and her team treated us with respect and helped us achieve our goal with minimal stress and upheaval. We have already recommended Faith Wilson Group.

~ Susan & Peter

PEACE OF MIN

D

THEFWG

“Not intended to solicit Purchasers under Purchaser/Agency agreement or properties currently listed for sale.”

TO GET STARTEDFirst, visit FaithWilsonGroup.com for extensive details regarding Vancouver area neighbourhoods from dog parks to home pricing by property type including detailed census data; our 360 degree Performance Promise; our exclusive monthly Market Update research publications; our track records of awards & achievements and much, much more.Then, call me at 604-224-5277 or 1-855-760-6886, or email me at [email protected]

BOTTOM LINEThe Faith Wilson Group is YOUR TEAM to meet and exceed all these expectations.

G U A R A N T E E D

WILL CONNECTyou and your family to the neighbourhood that meets your needs, within your budget, as a result of working with you to crystalize your budget and your expectations and your priorities.

DELIVERSa proven track record of negotiation expertise and successful transactions in a wide spectrum of property types across the Lower Mainland, along with a benchmark level of overall client satisfaction.

IS COMMITTEDto you being totally informed such that you will make your buying decision with complete peace of mind! Witness our unique neighbourhood profiles at FaithWilsonGroup.com.

GUARANTEESyour satisfaction even AFTER you have purchased your home! If you wish to relist it within 18 months of purchase, we’ll sell it for Free! Call for details.

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