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Market Updates

During the process of buying or selling a home, countless questions are bound to surface regardless of how "seasoned" you are in Real Estate.  Some questions are easily answered, however others may require a bit of research and study.   I understand how difficult it can be to sift through the mountain of information out there in order to find answers that are relevant and meaningful to you.  

As a firm believer in "knowledge is power," I do my best to educate and inform my Buyers and Sellers about the current market conditions and the process involved once you have made the decision to move.     

If you would like to receive regular Market Updates or newsletters please contact me at dodi.t@shaw.ca or call me at 604-644-3634

Latest News

I have sold a property at 3023 MARDALE RD in North Vancouver.
Classic character and charm throughout this adorable 2 level home. Located south east of Edgemont Village within a stones throw to Murdo Fraser Park, tennis courts and mini golf. This home checks all the boxes for your family! Move in before school starts. Enjoy a custom bright white kitchen with highly utilized spaces. Open plan dining and living room carry your entertaining through the french doors to a southern exposed sundeck and garden. Three bedrooms complete the main level. The lower level offers south facing ground access, a fourth bedroom, recreation room, second bathroom, additional storage and large laundry facilities. Appreciate lower level suite potential. A Custom made garage fits perfectly on the lot with side yard accessibility. Quality renovations approved with permit include: shingles, windows, doors, flooring, heating, plumbing, wiring, drainage, plumbing, cabinets, millwork, hardwood + more. Don't miss this opportunity!
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Please visit our Open House at 863 ROCHE POINT DR in North Vancouver.
Open House on Sunday, August 19, 2018 2:00PM - 4:00PM
A pleasant surprise awaits at Salish Estates! Pristine & newly renovated. An inviting southern exposed 1,848 sq.ft. duplex style 2 level townhouse. This timeless floor plan offers vaulted ceilings, an abundance of windows, gas fireplace & ground level access to a southern exposed private garden patio. You will appreciate the open plan dining/living room for entertaining & highly utilized kitchen, eating area & open plan family room. Main floor laundry room & 2 pc bath are newly renovated. The upper level features 4 bedrooms & open stairwell overlooking the living room. Southern exposed master bedroom w/window seat & custom cabinetry. Master bath designed w a separate shower & soaker tub designed for handicapped accessibility. Two car attached garage. All new water lines installed throughout. Pets are welcome. Located within walking distance to Parkgate Mall, Seymour Golf Club & sits at the base of Seymour Mountain for easy accessibility for skiing. You won’t miss any North Shore Activities!
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Please visit our Open House at 3105 33 CHESTERFIELD PL in North Vancouver.
Open House on Wednesday, August 15, 2018 5:00PM - 7:00PM
Where your perfect location and your desired lifestyle connect! Rent no longer. You will love the modern renovation in this trendy 2 level condo. Just 3 minutes to catch the Seabus with access to the street from your own private gate! Appreciate the open plan kitchen with centre island and stainless steel appliances and granite counters. Bright white entrance with custom built-in cabinetry. The main level open plan office can easily be used as a second bedroom. The lower level has been completely renovated to include: an generous master bedroom and adjoining dressing room, new 3 piece bathroom with oversized shower, an inviting family room - perfect for your big screen TV, a laundry room and storage area. Most important, you can work from home in the attractive east facing den. Attention to detail is everywhere! Your cat will feel right at home! No rentals. Immediate Possession! ACT NOW!
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Please visit our Open House at 2204 33 CHESTERFIELD PL in North Vancouver.
Open House on Wednesday, August 15, 2018 2:00PM - 4:00PM
Enjoy the lifestyle of North Vancouver’s waterfront. This 1,473 sq.ft. south facing condo provides peek-a-boo views of the water & city lights & overlooks the quiet centre court yard. Enjoy a south facing patio w/accessibility from the dining room. Downsizing is made easy w/one level living & generous room sizes. An inviting open plan dining/living room w/gas fireplace, custom blinds, crown moldings &hardwood flooring. An oversized laundry room is receptive to creative ideas. An abundance of cabinetry throughout the kitchen. Two full bathrooms are renovated. A king size bedroom suite will fit comfortably in this south facing master bedroom. This unique private location is foot steps from the sea bus & all amenities of the Lower Lonsdale corridor. Appreciate 2 car underground secured parking, ample visitor parking & 1 storage locker. 1 cat allowed. No rentals. Proactive council. This unique location is foot steps from the sea bus & all amenities of the Lower Lonsdale corridor. Immediate Possession.
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As Canada’s residential market recovers, recreational property experiences a surge

Canada’s increasingly aging population has retirees driving and inflating the recreational market in popular leisure locations

  • Recreational properties are experiencing a surge in pricing with 78 per cent of regions surveyed showing growth
  • A RE/MAX survey showed that retirees drive demand for recreational properties in 91 per cent of regions examined
  • An older Canadian population with more purchasing power is driving prices up


A recent survey of RE/MAX brokers and agents found that recreational properties are experiencing a surge in pricing, with 78 per cent of regions surveyed showing a higher median price in 2018 compared to 2017. A RE/MAX survey conducted in the spring showed that 91 per cent of popular Canadian recreational markets are being driven by retirees, and with seniors outnumbering children in Canada for the first time as reported last year, retirees as a population are also driving up prices.

Compared to 2018, the median price of recreational properties, including waterfront, non-waterfront, water access and ski-in properties, has increased by 13 per cent across Canada. Median price information was calculated for the periods of July 2016 to June 2017, and July 2017 to June 2018.

“Compared to 2017, when only 55 per cent of regions surveyed had retirees driving the market, this year’s 91 per cent are having a much bigger impact,” says Christopher Alexander, Executive Vice President and Regional Director, RE/MAX INTEGRA Ontario-Atlantic Canada Region. “Combined with the fact that Canada’s senior population is the largest it has ever been, and many of these retirees are using recreational properties as retirement properties, pricing has increased across the majority of markets.”

Overall, British Columbia saw an increase of 19 per cent, with the median price in areas like Tofino increasing by as much as 112 per cent. Lack of inventory in the small region drove prices higher. Sun Peaks, one of Canada’s largest ski areas, saw an increase of 34 per cent, due to its available services and schooling attracting retirees as well as families.

The Prairies tell a different story however, with median price compared to 2017 decreasing by four per cent overall. For instance, median price for both non-waterfront and water-access properties in Turtle Lake, SK dropped by 16 per cent and 10 per cent respectively. The same is true for Qu’Appelle Valley, SK with the median price for non-waterfront properties dropping by as much as 25 per cent. Changes in mortgage rules and an economic slowdown are factors that contributed to the decrease. Sylvan Lake, AB showed no price change.

“The economic slowdown in the Prairies, combined with stricter mortgage qualifications, has affected demand in its recreational market,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “On the other hand, BC’s economy is the fastest growing in the country and its status as a destination market has contributed to the strong growth of its recreational market.”

Meanwhile, Ontario saw an overall price increase of 15 per cent, with the median price in areas like Haliburton’s waterfront properties increasing by as much as 98 per cent. The same rings true for its water access properties, with the median price increasing by 71 per cent. The median price of waterfront communities in the French River also showed strong growth of 36 per cent.

Atlantic Canada saw a very modest median price increase of 0.13 per cent. While areas like Shediac showed modest growth – three per cent for waterfront properties and five per cent for water access properties – Newfoundland’s East Coast saw a decline of as much as 18 per cent for waterfront properties. Part of this was due to unusually high-priced properties that sold in 2017.

“Atlantic Canada’s market is faced by slow economic growth, compared to Ontario,” says Alexander. “Those still recovering from the 2017 market downturn in places like Newfoundland and Labrador are delaying purchases of recreational properties at the moment.”

RE/MAX brokers foresee current trends continuing into 2019. In the next two to five years, brokers in BC speculate the market will see a shift from retirees to younger buyers driving demand for recreational properties, as the latter accumulate more purchasing power. However, in the prairies, the tighter mortgage qualifications and overall economic performance will make it more difficult for younger buyers to enter the market. In Ontario, brokers see both retirees and younger buyers driving demand in the next few years. Atlantic Canadian brokers are closely aligned with those in the Prairies who see retirees continuing to drive the market.

Click to view the data tables.

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604–644–3634
dodi.t@shaw.ca

RE/MAX Dodi Thorhaug Realty
#101-2609 Westview Drive North Vancouver, BC V7N 4M2 Canada

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