Blog › February 2018

Recently Sold Listing 107 - 1283 Parkgate Avenue, North Vancouver, BC

R2242725 - 107 - 1283 Parkgate Avenue, North Vancouver, BC, CANADAI have just recently sold this listing at 107 - 1283 Parkgate Avenue, North Vancouver.

New Listing 107 - 1283 Parkgate Avenue, North Vancouver, BC

R2242725 - 107 - 1283 Parkgate Avenue, North Vancouver, BC, CANADAView my new listing for sale SOLD at 107 - 1283 Parkgate Avenue, North Vancouver and currently listed at $998,800.SOLD

Completely renovated 2 bed 2 bath garden level apartment at coveted Parkgate Place. Updates include wide plank laminate flooring throughout, floor to ceiling custom kitchen cabinets along with quartz countertops and island, new SS appliances, custom closet organizers in every closet, all new paint, new doors, new Venetian blinds, new sliding screen door, new Valor gas fireplace surrounded by tile & solid fir mantle. Both bathrooms have been completely renovated with high end finishes, quartz countertops, and light fixtures. Large private covered patio and direct access to gardens and lawn; perfect for pets. Close to shopping, trails, rec centre, library, skiing, golf, parks, schools, 20 mins to downtown. Quick possession possible.

Affordability Key issue Facing Buyers and Sellers in 2018

A year ago today, a couple with an annual household income of $138,153 and a 20% down payment could purchase a $1,000,000 home.  Today, that same couple with the same income could only afford to purchase a $750,000 home.  What has changed?  The Bank of Canada has had three key rate increases totaling .75%, and the Federal government is now requiring lenders to “stress test” all mortgages at two percentage points higher than they are right now to ensure borrowers would be able to pay off the loan.  The net effect is that Buyers will have to save more and lower their expectations.  What does this mean to Sellers?  In the long term, it means fewer Buyers with less purchasing power.


How does this impact the current market?  In the short term, supply and demand factors are still driving the market.  However, we did start to see the impact of affordability on the North Vancouver detached market last year as higher prices sidelined many Buyers, and inventory levels for detached housing started to increase.  Lower demand levels for detached housing saw the market move from a Seller’s market (sales to active ratio 20% +) back towards a Balanced market (sales to active ratio 12 – 19%).


We are now starting to see high prices impact affordability for townhouses/duplexes and apartments, and with Buyers being impacted by rate increases and “stress tests”, I believe inventory levels will build again for both market segments and we will see a trend back to a more balanced market.


North Vancouver Detached Market

Sellers’ market running between 20 – 25% sales to active ratio.  The year over year bench mark price up 5.5%.  Builders are currently carrying high levels of inventory at the $3 million plus price range and are not as active purchasing at the lower end of the market resulting in less competition.  Most active price range $1.500m - $1.999 million.


North Vancouver Condos Market

Inventory levels continue to decline resulting in a hot Seller’s market; 40 – 80% sales to active ratio.  Market is showing signs of slowing down because of high prices.  The year over year benchmark price is up 23.0%.  Most active price range $400k to $900k.


North Vancouver Townhouse/Duplex Market

Inventory levels remain low resulting in a strong Seller’s market; 35-60% sales to active ratio.  The year over year benchmark price is up 17.6%.  Most active price range $900k to $1.5 million.



If you need a REALTOR to assist you with Buying, Selling or Investing, I am definitely someone you can rely on and trustFriendly introductions always welcome and very much appreciatedJ