Vernon Real Estate Pages

VERNON & AREA

Armstrong Enderby Lumby

This listing is proudly presented by the

Heidi Lussi Real Estate Team

One of a kind home. Eco-friendly, all natural material from within the area, 8.48 acres complete privacy, unobstructed valley & lake view.

Call 250-503-3487 or visit www.HeidiLussi.com

Issue 26 • Jan 14 - Jan 27, 2018

Robin Baycroft*

Greg Barteluk RE/MAX Vernon

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Jacquie Friesen RE/MAX Vernon

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2555 Pleasant Valley Blvd 5405 26 St Armstrong, BC V0E1B0 Vernon, BC V1T 7G4 250.546.3119 250.503.3477

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908 George St Box 188 2095 Shuswap Ave 5603 27 Street 108-152 Silver Lode Lane Enderby, BC V0E 1V0 Lumby, BC V0E 2G0 Vernon, BC V1T 8Z5 V1B 3W9 250.547.9266 250.549.4161 250.838.0025 250.549.4161

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Tour 1000’s of homes online at SaltFowler.com SU IT E M A ST

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www.SaltFowler.com |

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OUTBACK RESORT

Spacious 3 bedroom unit on Trout Lake. Tennis Courts, pools & much more!

Call Today! $409,900 MLS 10143229

Move-in ready and entirely turnkey, this two-bedroom plus den property includes a spectacular view to occupy your time! $324,400 MLS 10146341

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C O VE R ED

16TH HOLE PARADISE A handsome and well-appointed vacation home with dual suites on two levels, the ultimate second home for the avid golfer.

TURNKEY CHARM

PET ALLOWED

Fabulous 2 bedroom, 2 bathroom third floor unit in Aberdeen Heights on Centennial Drive, a near flat walk from downtown Vernon. Great views over the city and up to Silver Star. $299,900 MLS 10146217

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BA LC O N Y

MLS 10142359

MLS 10144884

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$199,999

*Denotes Personal Real Estate Corporation

G R EA T

U Y N A M

$199,900

MLS NEW

$189,000

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P SW A U SH

MABEL LAKE LOT Allow the surrounding landscape to astound you and be your guide in the endless potential this 80-acre lot offers!

MIDDLETON MOUNTAIN

MLS 10139182

PD AT E

IV R

LE A R ST O VE IN

2 bedroom, 1 bath condo all freshly updated with newer flooring and paint. Nice front side upper unit with no rental restrictions.

$395,000

$178,000

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MLS 10138647

TURNKEY PROPERTY A fabulous combination of vacation home and income property, this Predator Ridge property will go quickly. Take a look today!

O

$135,000

SPACIOUS CHARM

A blank slate just waiting for your inspiration, this spacious 3 bedroom, 2 full bathroom mobile home offers a great location with breathtaking views!

ST O

MLS 10139781

RT !

$121,900

ADVENTURE BAY

Lake view and a park like setting, it doesn’t get any better than this! With access to the nearby community beach, boat launch and golf the location is second to none. Build your own custom dream home!

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GREAT STRATA Charming two-bedroom apartment close to town, shopping, and local amenities, a great opportunity for investor or first time buyer!

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Lisa Salt* & Gord Fowler

GREAT LANDSCAPE

A 3-bedroom, 3 bathroom property filled with updates and attention to detail, a great opportunity to move right in! $417,900 MLS 10146342

Vernon

QUIET LOCATION

The Outback on Okanagan Lake is a fabulous community with lots to provide, and this private forest cabin offers the ideal layout for hosting friends and family! $459,900 MLS 10143085

MLS 10142739

$699,900

MLS 10145383

CUSTOM FINISHES

Newer than this simply does not exist! This four bedroom two-storey home is newly completed & awaiting its first residents!

From $709,900 MLS 10137740

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$575,000

OPEN CONCEPT

Far from the ordinary, this spectacular mountain-area home is filled to the brim with thoughtful extras and attention to detail!

RT Y

MLS 10145701

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$475,000

BRIGHT AND OPEN

A four-bedroom home filled with thoughtful updates and incredible extras, the ideal home for entertaining!

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OPEN CONCEPT Move right in to this thoughtfully-appointed and smartly-laid out 4 bedroom family home close to Provincial Park!

TU A

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It’s not the market… it’s the marketing.

OPPORTUNITY RICH

Whether it’s a minor mortgage helper or extensive income potential you search for, this extensive property is prepared to fulfill your needs!

$999,900

$1,090,000

MLS 10136361

MLS 10141951

LAKEVIEW SERENITY A rare 24.8 acre lake view property with both a private setting and nearby lake access; the best of both worlds!

$1,100,000

MLS 10117783

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MLS 10141340

A spectacular executive-level property filled to the brim with custom design and highend appointments, this handsome Beverly Hills Estates home on 1.13 acres is the ultimate fusion of design and function.

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POTENTIAL-FILLED

The opportunities are endless within this multiple home compound with breathtaking Swan Lake views! $1,290,000 MLS 10141818

KAL VIEW BEAUTY

A 5-bedroom executive home with all the bells and whistles, the unique family home that is a step above the rest! $1,575,000

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$899,999

WATERFALL

LAKEVIEW INVESTMENT Not your average multi-family home, gas fireplaces and Swan Lake view balconies set this fourplex apart from the competition!

MLS 10145324

SUMMER PARADISE

100' LAKEFRONT

Executive contemporary lakefront property with all the extras plus a view that just won’t quit.

Prepare to be amazed today!

A stunning lakeside summer paradise meant for entertaining, a unique opportunity to move right in to this entirely-finished & furnished 4 bedroom home!

$1,949,999

Call 250.549.7258 TODAY and

MLS 10133571

$2,900,000

MLS 10147553

6

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Vernon Real Estate Pages

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INC

SilverStarMedia.ca  250.545.8858

The Real Estate Pages is published by Silver Star Media Inc., 3118 32nd Ave, Vernon, BC V1T 2L9. Reproduction of any photographs, artwork or copy is strictly prohibited without prior written consent of the publisher. All advertised properties are subject to prior sale or withdrawal without notice. Neither The Real Estate Pages nor Silver Star Media Inc are a registered real estate broker and this magazine offer is not an effort to assist in the buying or selling of real estate. The advertisers and publisher are not responsible or liable for misinformation, misprints or typographic errors.

DonKassa

REALTOR ® SERVICES Over 45 years of combined experience

Don Kassa (left) REALTOR®

Ryan Danchuk (middle) REALTOR®

Tracie Gobelle (right) Administrator

250.549.4161

DonKassa.com donkassa@donkassa.com

A south facing low side lot in Alpine Meadows, immediately adjacent to the Alpine Meadows chair lift, with excellent ski to and from access. Easy to build on, level driveway possible, great views.

MLS#10109333

In the heart of Silver Star Mountain Resort.

This 1 bedroom + sleeping alcove suite comes fully furnished, with 2 queen beds and a double pull out in the living room. There is a four piece ensuite. The kitchen/living room opens to a deck that overlooks the village.

Fully ski in and ski out, roof top hot tubs.

Restaurant, cafe, pub and shops all in one building. Easily the most convenient location at Silver Star. Exterior repainted 2014. Buyers will be obligated to honour all pre-existing guest bookings. MLS#10147616

NEW

#201 - 148 Silver Lode Lane

$104,800

340 Monkshood Lane

Firelight on the Pond at Silver Star Mountain Resort. A top floor, 3 bedroom, 2 bath corner/end unit with peaked ceilings, windows on two sides, gas fireplace. Fully furnished, bring your suitcases and groceries. Great mountain views. Covered deck. Pinheads Bowling Alley in the basement, along with Final Run Bar & Bistro. Underground parking, elevators, and a shared outdoor hot tub.

Located adjacent to the skating pond, Tube Town and skiing. Ski in/ski out and right on the cross country trails. A level, short walk to the Village.

MLS#10145390

#402 - 30 Monashee Road

$469,800

$795,000

9940 Cathedral Drive

$748,000

$770,000 Beautifully renovated 3 bedroom, 2 bath unit on the second floor in Lord Aberdeen Hotel.

Excellent location in the heart of the Village at Silver Star Mountain Resort. Great ski-in, skiout access. Prime Village views from the living room, master bedroom and deck. New Kitchen with granite counter tops. Cork and tile floors in the main areas, carpeting in the bedrooms, solid core wood doors. Any rentals must go through Silver Star Mountain Resort.

All pre-existing guest bookings must be honoured by Buyers. MLS#10084261

#225 - 139 Main Street

IMMEDIATE POSSESSION! Brand new beautiful semi detached home is part of the unique luxury Tuscan Terraces waterfront community.

An incredible waterfront value, built for longevity.

1800 sq. ft with 3 bdrms, 2.5 baths, multiple covered decks w/ great lake view. Garage & parking at the door for an extra vehicle. Located on the upper section of the courtyard offering much privacy and still only few steps away from the community pool and the extensive waterfront green space. Has a private boat slip for easy access to Okanagan Lake. MLS#10124968

#11 - 7373 Brooks Lane

$189,000 A modern ski area home unique to Silver Star in the Ridge. Built by Richbuilt Homes, known for their quality workmanship and executive style finishing touches. Terrific views of both Okanagan & Kalamalka Lakes, Vernon City and on to Predator Ridge, and the Monashee Mountains from main living spaces and bedrooms. 2 bdrms + bonus room on the middle level, and a finished basement with family room or 3rd bedroom and a finished ski entry adjacent. Step out your back door onto the ski-way. MLS#10115042

Enjoy Silver Star ski slope & Monashee Mountain views from this fully furnished & luxuriously appointed, top floor, corner unit in Snowbird Lodge. Bright 3 bdrm, 2 bath condo. Spacious, private deck with hot tub gazebo. Maple kitchen features granite counters, stainless steel appliances, cork & heated tile floors! Insuite laundry.

Welcoming lobby desk, adult lounge, children's lounge, theatre room, fitness room, secure underground parking. Established rental system makes this an excellent investment or your private vacation of full time residence! MLS#10095939

#601-170 Silver Lode Lane

Vernon

$274,000 This just under 1/4-acre building in a great location has exceptional unobstructed lake, mountain and city views and is ideally situated to capture morning sunlight from your view deck! Lot is ready to build! All utilities available, and paved roads and sidewalks are already in place. A short drive takes you to a shared dock and 1 km of beach access, plus many established hiking trails. Access to the Seasons Gym, Pool, hot tub, and club is included with a $50 per month fee.

MLS#10142961

8812 Oxford Road

$219,000

Please visit our newly redesigned website www.silverstarproperites.ca

8

Positioned at the top of the Silver Woods chair with terrific views of the Monashee sits this classic Silver Star Mountain ski home. Six bedrooms that includes a two bedroom suite. Updated interiors, great floor plan and one of the best ski in/out locations at Silver Star. Level parking.

No GST. MLS®10145555

#1- 870 Monashee Rd., Silver Star

00

4,9

2 $3

Jayme McKillop

Jen Sellar

250.307.8137 jayme@jjsellrealestate.com

250.309.3439 jen@jjsellrealestate.com

The OAKS Luxury Townhome Development

Stunning views of Attridge & flooded w/ natural daylight sets this unique suite from the rest. Big, beautiful windows and a well laid out floorplan offers a very comfortable winter getaway. Level entry with room for 2 vehicles. Cozy gas fireplace. 6 person hot tub. No GST. MLS®10147684

525 Arnica Lane, Silver Star

0

,00

50

$8

J&J Real Estate Associates

215 Silver Queen Rd., Silver Star

00

0,0

9 $9

Ski in/out of this spacious 3 story Gavin Parsons ski home nestled at the base of Christmas Bowl and the Chute ski runs.

No walking or hiking involved. Cozy fireplace and hot tub on the covered deck. This home is fully furnished and equipped anticipating all your needs.

MLS®10145555

PROMO Pricing starting at $424,900 incl. GST! N

NOW SELLING

Kathy Broderick

RE/MAX Vernon

250.309.1167

Personal Real Estate Corporation www.broderickrealestate.ca

Phase 4

Phase 2 & 3

Phase 1

NOW SELLING

Kalamalka

Okanagan

PHASE 4 NOW SELLING

· 2 floor plans to choose from · 3 interior design options · Central Air (A/C) · Attached double garage · High quality finishings MLS® 10146173, 10146172, 10143137, 10143090 CALL/TEXT US TODAY FOR MORE INFO!

6600 Okanagan Avenue

Vernon

250-540-1323 Rex Rainsforth, MEd, AHI rex_insp@telus.net

Business & Farm

Home & Travel

Auto & RV

All Insurance Services We provide protection options as unique as you are.

250-545-5311 www.jmins.com

Residential - Commercial FREE Thermal Imaging With Every Paid Inspection

3923 32 St. Vernon, BC V1T 5P2 Monday thru Friday: 7:30-5:30, Saturday: 9:00-5:00

OkanaganHomeInspections.ca

YOURREALESTATEPAGES.COM | 9

Heidi Lussi PREC Steve Wikkerink REALTOR® Beate Schmidt REALTOR® Susan Olney Administrative Coordinator

We are NEVER too busy for your referrals

The

Heidi Lussi Real Estate Team

Vernon

www.heidilussi.com | 250-503-3487 | info@heidilussi.com #48 -1220 25th Avenue

7765 Cary Road

$459,000 Sought after gated community! This 1240sqft unit is ready for fast possession. Many upgrades, attached double garage, plus additional parking.

Very open plan, bright kitchen area with eating nook and patio doors to the yard. Additional amenities include RV storage/parking, club house with gym & pool + rec. room for gatherings.

Located in very popular Sandpiper complex that is gated and secured. Enjoy a fine lifestyle.

MLS®10147671

4315 Highland Park Road

New

751 Mt Ida Drive

$585,000 Enjoy your own little Hobby Farm.

Cute 2 & 2 bedrooms, 2.5 baths rancher with walk out basement on 1.4 acres fenced property. Recently renovated with beautiful new features such as modern style kitchen, high end tile flooring, hardwood etc. Only minutes from Armstrong in beautiful rural & private setting.

MLS®10147875

New

$529,000 1/2 acre flat lot, ample room for your RV/Toys. Well maintained family home, 3 bedrooms, 3 baths. Over 2750 sqft. of living space. Multiple patios/sitting areas.

Many upgrades done, quartz counters, some heated tile floors, hardwood floors.

MLS®10147802

$883,000 With over 4000sqft including rare 4 large bdrms on the upper level. Dream master retreat with deck overlooking Kal Lake.

Fully developed basement with 5th bedroom.

Stunning Landscaping and very private.

Kal Lake views from nearly the entire home!

Don’t miss this home.

MLS®10141980

Great Value

250.309.0039 chris@chrisholm.ca

Shelby Bouchard

Brent Stevenson

REALTOR®

250.549.0023

Brenda Ellis

REALTOR®

REALTOR®

250.309.9969

250.308.4310

Diane Callbeck Client Care

(unlicensed)

Yania Greenaway Admin Assistant

(unlicensed)

Natalia Vignola Graphics & Design

(unlicensed)

your listing You Deserve

Your Home

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Home staging consultation HD photography package HD property videos Professional floorplans Custom property booklets Open houses Listings translated to over 70 languages

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We Are

a team whose clients come first Leaders in marketing trends 35 years combined experience Certified Negotiation Expert Certified International Property Specialist RE/MAX Hall of Fame recipient Our fees start at just 4%

Because the world is online, so are all of our listings.

Vernon

View our listings + 100's more at ChrisHolmRealEstate.ca

10

Hutch "N" Son 250-558-8728 sidhutch@gmail.com W N E I CE PR

11309 Coldstream Creek Rd.

Amazing Coldstream investment opportunity.

Full legal side by side duplex. Full walk out basements on both sides. Walking distance to Kalamalka Lake.

MLS®10146300

$635,000

Vernon

NE

Great starter home or investment.

2 bdrm, 1 bath, updated town home in a quiet central location close to schools, shopping and public transit.

W

W N E I CE PR

MLS®10142105

#304 -103 George St.

$122,900

NE

W

MLS®10147663

#21- 4200 Alexis Park Dr.

Unbeatable value as an investment or first time buyer getting into the market! Top floor, 2 bdrm, 1 bath home in great condition in strata complex.

hutchinson.connor@gmail.com 250-309-1633

3417 16th Ave.

Rural living just minutes from town.

Beautifully maintained 3 bdrm, 2 bath rancher with a full basement. Gorgeous views of swan lake and the city of Vernon MLS®10147613

6451 Bluejay Rd.

$189,900 Fantastic 3 bdrm, 2 bath,1500 sqft family home in Mission Hill.

Spacious deck with a large private backyard. Close to town, parks, and schools.

MLS®10145808

Great starter home or investment property located in the Centrepoint apartment building. Awesome fourth floor-corner unit with views out both sides, 3 Bdrm 2 Bath.

MLS®10145772

#425 - 3901 32 Ave.

$319,900

$475,000

We Help Your Business

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SilverStarMedia.ca 250.545.8858

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4105 28th Ave. Vernon - Won't Last Long!

Cute and Cozy 1778 sq.ft, 4 bdrm 2 bth Bungalow.

Walking distance to downtown, quiet street, hot tub, furnace & A/C 2 years old, newer windows, new oversize detached Garage /Workshop built in 2011, lots of parking.

$369,900 MLS®10142709

tH

ill

2501 15th Street - Own Your Own Business

.29 Acre flat site with 2013 built 4PLEX. ( 3 residential suites and 1 commercial ) Unique Corner store, C1 zoned property, makes a good return, thriving 2 yr old Coffee Shop Business included. $1.2 million all included, or $109,900 business only. MLS®10144861

Maria Besso (250) 308-1152 | mariabesso@shaw.ca | www.mariabesso.remax.ca

Vernon

The sign you want The Agent you need.

TheRightAgents @RightAgents TheRightAgents.com

Deb

Deveau REALTOR®

Your Key to the North Okanagan

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20 A

Judy

Fischer REALTOR®

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$149,900

REALTOR®

$249,000 105 Brickyard Street, Enderby Call Deb & Judy @ The Key Team - MLS10139750

Enderby

*Personal Real Estate Corporation

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Rive $339,000

57 Parsons Road, Enderby Call Deb & Judy @ The Key Team - MLS10145876

s Acre 3.01

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Call Deb & Judy @ The Key Team - MLS10138953

Lundquist*

908 George St. Enderby, BC

900B Belvedere Street, Enderby Call Deb & Judy @ The Key Team - MLS10141263

$890,000 24 Rohan-Peters Road, Enderby

Bonita

1-888-609-7764 250-838-0025

$1,125,000 $159,000

Lot 9 - 265 Terry Road, Enderby Call Deb & Judy @ The Key Team - MLS10139041

247 Brickyard Road, Enderby River frontage & 4 acres within city limits. 2” water line has been ran on to this property. OCP may allow for rezoning to residential. Visibility to and from Highway 97A - Call Bonita Lundquist PREC 250-306-8184 - MLS 10147683

12

Happy New Year!

From your friends at RE/MAX Vernon

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@RightAgents

TheRightAgents

Vernon

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#1-6600 Okanagan Ave

JANE FIELD Cell 250.938.2830 Office 250.503.3755 Toll Free 1.888.503.3755

jane@vernonrealestate.ca

EXCELLENT LOCATION IN THE COMPLEX. This unit has a great view of valley and hills beyond without overlooking other units. End unit that enjoys the common area green belt beside it. Visitor parking is nearby. Attractive open concept design. Mezzanine overlooks great room from second storey. This feature makes it feel really spacious.

Master bedroom on main. Full en-suite. Well kept and beautifully appointed. Granite counter tops in Kitchen. Close to sought after Okanagan Landing school. Also close to Kin and Paddle Wheel beach parks, Vernon Yacht Club, The Outboard Beach Pub, Marshall Fields Park and indoor soccer arena. MLS: 10141204 $419,900

Experience

that will move you

RRS

Vernon

Registered Relocation Specialist

5603 - 27th Street Vernon, BC V1T 8Z5

Thinking of Selling?

Call me for a FREE market evaluation* *Some restrictions apply

250.938.2830

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@REPVernon

Vernon Real Estate Pages

BCREA HOUSING FORECAST UPDATE BCREA HOUSING FORECAST UPDATE

February 20172017 February

14

For immediate release

HoH u so iunsgi nFgo rFeocr ae sc ta sStu m r ya r—y F—i r Fs itr sQtu Q a rutaerrt e r S ummam

Housing Market Facing Headwinds Despite Strong Economy Unit Sales Unit Sales

® ($) Average MLS®MLS Price Average Price ($) For immediate release 2018F2018F Board Area Board Area 10,028 9,250 8,500 585,745 599,000 608,000 10,028 9,250 8,500 585,745 599,000 608,000 Victoria Victoria Vancouver, BC – November 28, 2017.

The British Columbia Real Estate Association released its1.5% 2017 27.5% -7.8% -8.1%-8.1% 12.3%12.3% (BCREA) 2.3% 2.3% 1.5% 27.5% -7.8% 10,532 9,400 8,750 $383,192 $396,000 $402,000 Fourth Quarter Housing Forecast today.

10,532 9,400 8,750 $383,192 $396,000 $402,000 Vancouver Island BCREA 26.6% 2017 Fourth Quarter Housing Forecast Vancouver Island -10.7% -6.9%-6.9% 12.8%12.8% 3.3% 3.3% 1.5% 1.5% immediate release For For immediate release 26.6% -10.7% 417 417 sales 390 345 are $284,471 $288,000 $291,000 390province 345forecast $284,471 $288,000 $291,000 Multiple Listing Service® (MLS®) residential in the to decline 10.4 per cent to 91,700 Powell River Sunshine Coast Powell River Sunshine Coast Vancouver, BC – November 28, 2017.

The British-6.5% Columbia Real Estate Association released 1% its 2017 9.4% -11.5% 15.3%15.3%(BCREA) 1.2% 1.2% 9.4% -6.5% -11.5% 1% in units in 2018, after an expected 8.8 per cent decrease this year. A record 112,209 unit sales were recorded Fourth Quarter Housing Forecast today.

40,880 34,000 35,750 40,880 34,000 35,750 1,017,228 1,017,228 942,000 942,000 963,000 963,000 Greater Vancouver 2016.

The ten-year average for MLS® residential-16.8% sales in BC is5.1% 84,700 units.

Strong economic and demographic Greater Vancouver -5.2%-5.2% 12.7%12.7% -7.4%-7.4% 2.2% 2.2% -16.8% 5.1% fundamentals are supporting elevated housing demand.

However, aforecast number ofdecline factors are expected temper 23,086 19,700 18,900 $676,946 $657,000 $668,000 23,086 19,700 18,900 $676,946 $657,000 $668,000 Vancouver, BC – November 14, 2017.

The British Columbia Real Estate Association (BCREA) Multiple Listing Service® (MLS®) residential sales in the province are to 10.4 per cent toto 91,700 FraserFraser ValleyValley home sales in the province next year.

15.1% -14.7% -4.1% 17.2% -2.9% 1.7% 15.1% -14.7% 17.2% -2.9% 1.7% Vancouver, BC –after November 28, 2017.

Thecent British Realrecorded Estate Association (BCREA) released its 2017 units in 2018, an expected 8.8 per decrease this year.

A -4.1% record 112,209 unit salesListing were recorded in reports that a total of 8,677 residential unitColumbia sales were by the Multiple Service® 4,3064,306 3,4003,400 3,1003,100 $397,911 $416,000 $428,000 $397,911 $416,000 $428,000 Fourth Quarter Housing Forecast today.

2016.

The ten-year for MLS®ofresidential in BC isthe 84,700 units.

Strong andsales demographic Chilliwack and District Chilliwack andaverage District (MLS®) in October, an increase 19.3 per sales cent-21% from period lasteconomic year.

Total 37.2% -21% -8.8%same 18.4%18.4% 4.5% 2.9% 2.9% 37.2% -8.8% 4.5% “Housing demand across the elevated province will facedemand. increasing fundamentals are supporting housing However, a number of factors are expected to temper dollar volume was $6.25 billion, up 41.6 per cent from October 2016.

The average MLS® 3,181 2,870 2,700 345,528 355,000 362,000 headwinds in said Cameron Muir,3,181 BCREA Multiple Listing Service® (MLS®) sales inChief the2,870 province are2,700 forecast to345,528 decline 10.4355,000 per cent to362,000 91,700 Kamloops and District Kamloops and District home sales in 2018,” the province nextresidential year.

23.6% -9.8%-9.8% -5.9% 5.9% 5.9% 2.7% 2% 2% 23.6% -5.9% 2.7% residential price the province was $720,129, up 18.7 per cent 112,209 from October 2016.

Economist. rising interest rate combined units in 2018,“A after aninexpected 8.8 environment per cent decrease this year.

A record unit sales were recorded in 10,036 8,4008,400 8,6008,600 $461,791 10,036 $461,791 $468,000 $468,000 $476,000 $476,000 Okanagan Mainline Okanagan Mainline with more stringent mortgage stress tests will reduce 2016.

The ten-year average for MLS® residential sales in BC is 84,700 units.

Strong economic and demographic “Housing demand across the province will face increasing 25.6% -16.3% 2.4% 2.4% 13.1%13.1% 1.3% 1.3% 1.7% 1.7% 25.6% -16.3% “BC home sales trended higher inhousing household purchasing power and erode housing fundamentals are supporting elevated demand.

However, a number of factors$351,000 are$351,000 expected to $356,000 temper 2,459 2,0502,050 1,9751,975 $364,295 $356,000 headwinds in 2018,” said Cameron Muir, BCREA Chief 2,459 $364,295 SouthSouth Okanagan* Okanagan* October, up 23 per cent from January on combined a-16.6%to affordability.”

The 5-year qualifying rate21.6% is forecast rise 20-3.7%-3.7% 21.6% 11.3%11.3% -3.6%-3.6% 1.4% 1.4% home sales in“A the province next year.

-16.6% Economist. rising interest rate environment 260 325 325 $233,363 basis points toadjusted 5.15 per cent bystress Q4 2018, and the285 new285 260 $233,363 $243,000 $243,000 $248,000 $248,000 seasonally basis,” said Cameron with more stringent mortgage tests will reduce Northern LightsLights Northern -16.7% 9.6% 14% 14% -13.4% 4.1% 4.1% 2.1% 2.1% -16.7% 9.6% -13.4% qualification rules for conventional mortgages will erode “Housing acrosspower the province face Muir, demand BCREA Chief Economist.

“Awill lack ofincreasing household purchasing and erode housing 2,9552,955 2,5002,500 2,575 $282,758 $282,758 $286,000 $286,000 $291,000 $291,000 purchasing power by up to 20 per cent.

“Given the rapid Kootenay headwinds in 2018,” said Cameron Muir, BCREA Chief affordability.”

The 5-year qualifying rate is forecast to rise rise 20 3% 2,575 Kootenay supply the resale market continues 18.2%18.2%to -15.4% 2.7% 2.7% 1.1% 1.1% 1.7% 1.7% -15.4% 3% input home prices overinterest thecent past few years, the of these 4,250 Economist.

“Ato rising environment combined basis points 5.15 per by Q4 2018, and the new upward pressure onrate home prices ineffect 4,0694,069 4,100 4,100 4,250 $263,703 $263,703 $265,000 $265,000 $269,000 $269,000 BC Northern BC Northern factors will likely be magnified.” with more stringent mortgage stress tests will reduce qualification rules for conventional mortgages will erode -3.4% 0.8% 3.7% -0.4% 0.5% 1.5% 1.5% -3.4% 0.8% 3.7% -0.4% 0.5% most BC regions.” purchasing power by power up to 20 pererode cent.

“Given the rapid rise 95,77095,770 691,144 household purchasing and housing 112,209 96,345 112,209 96,345 691,144 657,026 657,026 666,657 666,657 BC Total BC Total 9.5% -14.1% -0.6% 8.6% -4.9% 1.5% 1.5% The supply of homes for sale is now trending at or near decade lows in most BC regions.

The imbalance 9.5% -14.1% -0.6% 8.6% -4.9% in home prices over the past few years, the effect of affordability.”

The 5-year qualifying rate is forecast to these rise 20

BCREA2016 2017 Fourth Quarter Housing Forecast 2017F2017F 2018F 2016 2017F2017F 2016 2018F 2016

Housing Market Facing Headwinds Despite Strong Economy

Housing BC Market Headwinds Despite Strong Economy HomeFacing Sales Rise Despite Low Level of Supply BCREA 2017 Fourth Quarter Housing Forecast

Total active listings were down 5.1 per

NOTE: The Northern Lights Real Estate Board (NLREB) became partthe ofpart the South Real Estate Board (SOREB) on January 1, 2011.The between supply and demand been largely responsible for rapidly rising prices.

NOTE: The Northern Lights Real Estate Board (NLREB) became of the Okanagan South Okanagan Real Estate Boardhome (SOREB) on January 1, 2011.combination of factors will likely be magnified.” basis points to 5.15 per cent by has Q4 2018, and new *Excluding Northern Lightsunits cent to 27,987 *Excluding Northern Lights in October compared weakening rules consumer demand andmortgages a surge in will newerode home completions next year is expected to induce more qualification for conventional to supply the same month last and have balanced market conditions, less upward pressure home prices. average residential The of homes forto sale isproducing now trending atthe or rapid near decade lows in most BC The regions.

The MLS® imbalance purchasing power by up 20year, per cent.

“Given rise on BCREABCREA Economics provides timely research, analysis and information on economic factorsfactors affecting BritishBritish Columbia and itsand housing markets.

Economics provides timely research, analysis and information on economic affecting Columbia its housing markets. declined 49 per cent over the last five price the province ispast forecast tobeen increase 3.1responsible per cent tofor $712,300 this year, and a further 4.6 per cent to supply and demand hasyears, largely rapidly rising home prices.

The combination of inbetween homeinprices over the few the effect of these years.

The ratio ofdemand home sales active listings was up from 24.7 in October 2016more to 31 $745,300 inconsumer 2018. weakening and atosurge in new home completions next per yearcent is expected to induce factors will likely be magnified.”

The British Columbia Real Estate Association (BCREA) is the is the The British Columbia Real Estate Association (BCREA) Send questions comments aboutabout the Housing Forecast to: to: Send questions and comments theresidential Housing balanced market conditions, producing less upward on home The average MLS® per cent last month.

The BC housing market is®pressure considered to beprices. inand relative balance when the Forecast ® in BC, professional association for more than 20,000 REALTORS in BC, professional association for more than 20,000 REALTORS Cameron Muir, Chief price in of the province is forecast to impact increase 3.1 per to $712,300 year, and a further per cent to Cameron Muir, Chief Economist, –cent 30 –12 The supply of homes for sale is impact now trending at or near decade inthis most BCEconomist, regions.

The 4.6 imbalance ratio home toissues active between 20 per cent. focusing on provincial issues that real estate.

Working with focusing on sales provincial thatlistings realisestate.

Working withand lows cmuir@bcrea.bc.ca; 604.742.2780 cmuir@bcrea.bc.ca; 604.742.2780 $745,300 in 2018. between supply and demand has been largely responsible for rapidly rising home prices.

The combination of the province’s real11estate boards, BCREABCREA provides continuing the province’s real estate boards, provides continuing To view the full11BCREA Housing Forecast, click here.

Brendon Ogmundson, Economist, Brendon Ogmundson, Economist, professional education, advocacy, economic research and home weakening consumer demand and aeconomic surge inresearch new completions next expected to induce more professional education, advocacy, and was Year to date, BC residential sales dollar volume down 9.4 peryear centisto $63.8 billion, when bogmundson@bcrea.bc.ca; 604.742.2796 bogmundson@bcrea.bc.ca; 604.742.2796 ® ® provide value forupward their standard formsforms to help – 30 – provide value for clients. their clients. standard toREALTORS help REALTORS balanced market conditions, producing less pressure on home prices.

The average MLS® residential compared with the same in 2016. Residential unit sales declined 10.7 per cent to 90,290 For more information, pleaseperiod contact: price in the province is forecast to increase 3.1 per centQuality to $712,300 thiseconomics and further 4.6 per Additional information is available on cent Additional economics information is available on to To demonstrate the profession’s commitment to improving Quality To view the fullthe BCREA Forecast, click here.

To demonstrate the Housing profession’s commitment to improving units, while average MLS® residential price increased 1.4 peryear, cent to a$706,881.

Cameron Muir BCREA’s website at: www.bcrea.bc.ca.

BCREA’s website at: www.bcrea.bc.ca. $745,300 in 2018. of Life BC in communities, BCREABCREA supports policies that help ofinLife BC communities, supports policies that help Chief Economist ensure economic vitality, provide housing opportunities, preserve ensure economic vitality, provide housing opportunities, preserve For more information, please contact: To sign forup BCREA news releases by email visit: visit: Direct: 604.742.2780 Toup sign for BCREA news releases by email -30the environment, protect property owners and build better – 30 – www.bcrea.bc.ca/news-and-publications/publications/ the environment, protect property owners and build better www.bcrea.bc.ca/news-and-publications/publications/ Cameron Muir Mobile: 778.229.1884 For more information, please contact: manage-subscriptions. communities with good and safe manage-subscriptions. communities with schools good schools andneighbourhoods. safe neighbourhoods.

Chief Economist Email: cmuir@bcrea.bc.ca To view the full BCREA Housing Forecast, click here.

Cameron Muir Direct: 604.742.2780 Chief Economist 1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 Mobile: 778.229.1884 For more information, please contact: Direct: 604.742.2780 Email: cmuir@bcrea.bc.ca President Jim Stewart | quarterly President-Elect James Palanio bcrea@bcrea.bc.ca | 604.683.7702 (tel) Housing Forecast is published quarterly by the British Columbia Real Estate Real| estate real estate and REALTORS may reprint this content, by the British Columbia Real Association.

Estate Association.

Real boards, estate boards, real associations estate associations and REALTORS may reprint this content, CameronHousing MuirForecast is published ®

®

provided that778.229.1884 credit is given by including the following statement: “Copyright British British Columbia Real Estate Association.

Reprinted with permission.”

Interim CEO Damian www.bcrea.bc.ca 604.683.8601 Past President Deanna | Estate | BCREA |“Copyright (fax) provided that credit is to given to BCREA by including the Stathonikos following statement: Columbia Real Association.

Reprinted with permission.”

Mobile: Chief Economist Horn BCREA makes noGeorgia guarantees asStreet to the or completeness of this information.

BCREA makes no guarantees asaccuracy to the accuracy or Box completeness of thisPacific information.Centre, Vancouver, BC 1420 – 701 W, PO 10123, V7Y 1C6 2 2 Email: cmuir@bcrea.bc.ca Russell Direct: 604.742.2780 1420 - 1420 701 Georgia Street Street West, PO 10123, PacificPacific Centre, Vancouver, BC V7YBC 1C6 604.683.7702 | | Fax: | Email: bcrea@bcrea.bc.ca President JimGeorgia Stewart | BoxPO President-Elect James Palanio | |1C6Phone: bcrea@bcrea.bc.ca 604.683.7702 (tel) - 701 West, Box 10123, Centre, Vancouver, V7Y | Phone: 604.683.7702 | 604.683.8601 Fax: 604.683.8601 | Email: bcrea@bcrea.bc.ca Mobile: 778.229.1884 Past President Deanna | 604.683.8601 (fax) | Interim CEO Damian Stathonikos | www.bcrea.bc.ca Horn cmuir@bcrea.bc.ca Email: Russell

1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 President Jim Stewart | President-Elect James Palanio | bcrea@bcrea.bc.ca | 604.683.7702 (tel) Vernon Past President Deanna | 604.683.8601 (fax) *Personal Real Estate Corporation | Interim CEO Damian Stathonikos | www.bcrea.bc.ca 1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 Horn Russell President Jim Stewart | President-Elect James Palanio | bcrea@bcrea.bc.ca | 604.683.7702 (tel) | Interim CEO Damian Stathonikos | www.bcrea.bc.ca | 604.683.8601 (fax) Past President Deanna Horn

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