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Cindy Leung Homes

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Canada
Richmond, BC
Cindy Leung Homes

Realtor at 1NE Collective Realty. Fluent in English, Cantonese and Mandarin.

01/17/2024

BC Real Estate Association (BCREA) Chief Economist Brendon Ogmundson discusses the December 2023 statistics. Learn more at https://bcrea.bc.ca/economics Foll...

01/16/2024

Our latest forecast looks at last year to help to predict what the housing market will look like in the first half of 2024. (2 minute read)

01/05/2024

Dec 2023 Market Report

Metro Vancouver’s housing market in 2023 experienced balanced conditions despite facing the highest borrowing costs in over a decade.

Residential sales totaled 26,249, marking a 10.3% decrease from 2022, but the housing prices across all segments saw a five-plus percent increase, defying predictions of declines.
Although, the number of properties listed in 2023 decreased by 7.5% compared to 2022, December 2023 saw a 3.2% increase in sales, indicating ongoing market strength.

The sales-to-active listing ratio for Dec:
16% for all property types ⬇️
11.1% for detached homes ⬇️
18.7% for townhomes ⬇️
19.6% for apartments ⬇️

Read the full report from REBGV:
https://www.rebgv.org/market-watch/monthly-market-report/december-2023.html

12/31/2023

Ellen Goodman, A Pulitzer Prize winning journalist once said “We spend January 1 walking through our lives, room by room, drawing up a list of work to be done, cracks to be patched. Maybe this year, to balance the list, we ought to walk through the rooms of our lives, not looking for flaws, but for potential.”

May we find new protentials in ourselves and have courage to dream a new dreams in the coming year.

12/15/2023

To view the Mortgage Rate Forecast PDF, click here. Highlights Benchmark five-year bond yields tumbling, fixed mortgage rates to follow. The Canadian economy slowed sharply in the third quarter. The Bank of Canada is set to cut in 2024, but how much and how fast? Mortgage Rate Outlook After hitting....

12/06/2023

November Market Report

Metro Vancouver's housing market is experiencing balanced conditions as housing inventory increases, providing buyers with the largest selection since 2021.

The Real Estate Board of Greater Vancouver reports a 4.7% year over year increase in residential sales for November 2023. The rise in supply and seasonal sales slowdown is creating balanced market conditions, with a sales-to-active listings ratio of 16.3%. The MLS® Home Price Index shows a 4.9% year over year increase, but a 1% decrease compared to October 2023, indicating flatter price trends.

The sales-to-active listing ratio for Nov:
16.3% for all property types ⬇️
12.7% for detached homes ⬇️
19.8% for townhomes ⬇️
18.2% for apartments ⬇️

Historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period.

Questions about real estate? Let’s chat👇🏻

DM
☎️ 604-724-5209
📧 [email protected]

Read the full report from REBGV:
https://www.rebgv.org/market-watch/monthly-market-report/november-2023.html

Photo by Kwan Fung on Unsplash

11/30/2023

Statistics Canada released its gross domestic product report Thursday, which shows the economy contracted 1.1 per cent on an annualized basis. Concurrently, Statistics Canada also revised its second-quarter GDP figures upward, noting the economy did not shrink, but rather grew 1.4 per cent on an annualized basis.

New housing construction in the quarter increased for the first time since early 2022, led by apartment construction.
Offices of real estate agents and brokers fell for the third consecutive month, dropping 4.1 per cent as sales weakened into the fall.

Despite the preliminary positive figures in October, the Canadian economy reveals a degree of vulnerability without substantial aggregate contraction. However, with rising unemployment and mixed progress on inflation, market sentiment leans toward the belief that the Bank of Canada may have concluded its tightening cycle. The central bank is set to announce its next interest rate decision on Dec. 6

Source: British Columbia Real Estate Association, Statistics Canada

11/04/2023

Oct Market Report

In October 2023, Metro Vancouver saw an increase in new property listings, offering more choices for buyers. However, according to report from Real Estate Board of Greater Vancouver (REBGV), sales remained 29.5% below the 10-year average. While supply is up, demand appears weaker. The market is adjusting towards balance, with the multifamily segment more active than detached homes. Home prices have increased over the year but experienced a slight decrease in recent months. Data from REBGV showed detached homes' benchmark price is $2,001,400, apartments are at $770,200, and townhouses at $1,100,500.

The sales-to-active listing ratio for Oct:
17.9% for all property types
12.9% for detached homes
20.9% for townhomes
21.5% for apartments

Historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period.

Questions about real estate? Contact me and let’s chat👇🏻

DM
☎️ 604-724-5209
📧 [email protected]

You can read the full report here:

https://www.rebgv.org/market-watch/monthly-market-report/october-2023.html

09/08/2023

🚨NEW PRICE ALERT🚨

Discover the new price of this stunning, modern home located at The Mark in the heart of vibrant Yaletown, Vancouver. Situated just minutes away from David Lam Park, the scenic seawall, and the Yaletown SkyTrain station, The Mark offers the epitome of urban living.

Indulge in a lifestyle of luxury with access to a remarkable 10,000 sq.ft. Wellness Centre, fully equipped gym, refreshing outdoor pool, relaxing steam and sauna facilities, stylish party rooms, comfortable guest suites, and the convenience of a 24-hour concierge.

This exquisite 2-bedroom, 2-bathroom condo is now available at the unbeatable price of $1,299,000. Don't miss this opportunity to make it yours – schedule a viewing and submit your offer today!"

📍3808-1372 Seymour Street, Vancouver
MLS
Open house:
(Sun) Sep 10 2pm-4pm
(Sat) Sep 16 2pm-4pm

08/07/2023

July Market Report

Metro Vancouver's home prices surged in July with a 28.9% increase in residential home sales compared to the previous year. Despite being 15% below the 10-year average, the market showed resilience after the Bank of Canada's rate hike. Mortgage rates reached a decade-high, but strong demand and adaptability drove sales up. According to REBGV’s report, the benchmark price for all residential properties rose to $1,210,700, marking a 0.5% increase over July 2022 and a 0.6% increase compared to June 2023.

The sales-to-active listing ratio for July:
24.9% for all property types ⬇️
16.5% for detached homes ⬇️
32% for townhomes ⬇️
30.6% for apartments ⬇️

Historical data suggests home prices often experience upward pressure when it surpasses 20 per cent over several months.

Curious about the market value of your home? Contact me and I will give you a FREE ESTIMATE.👇🏻

DM
☎️ 604-724-5209
📧 [email protected]

You can read the full report here:
https://www.rebgv.org/market-watch/monthly-market-report/july-2023.html

07/29/2023

Open house(Sun) July 30 2:00pm-4:00pm.

📍3808-1372 Seymour St, Vancouver

2 bedroom 2 bathroom
977 Sq.Ft.
Build 2013
1 Parking stall 1 Storage locker

Discover this luxury condo with top of the line finishes. Located in Vancouver's vibrant Yaletown with stunning panoramic views of English Bay and False Creek. Enjoy a 10,000 sq ft health club with outdoor pool, hot tub, sauna, steam room, yoga studio, large fitness center, ballroom and guest suite. 24 hour concierge service. Walking distance to David Lam Park and Seawall, as well as Yaletown Skytrain station and many restaurants.

Contact me for more info
DM
☎️ 604-724-5209
📧 [email protected]

07/06/2023

IG June Market Report

In June 2023, Metro Vancouver's housing market witnessed a rise in home prices due to high buyer demand and limited inventory. The Real Estate Board of Greater Vancouver reported a 21.1% increase in residential home sales compared to the previous year. Apartment sales surpassed the 10-year seasonal average, with prices nearing their peak in 2022.

Although new property listings saw a slight increase, the total number of homes for sale decreased. Low inventory available relative to the pool of buyers in Metro Vancouver is the fundamental reason for prices increase month over month.

The sales-to-active listing ratio for June:
31.4% for all property types ⬇️
20.9% for detached homes ⬇️
38.5% for townhomes ⬇️
39.4% for apartments ⬇️

Curious about the market value of your home? Contact me and I will give you a FREE ESTIMATE.👇🏻

DM
☎️ 604-724-5209
📧 [email protected]

You can read the full report here:
https://www.rebgv.org/market-watch/monthly-market-report/june-2023.html

Address

#215-8600 Cambie Road
Richmond, BC
V6X4J8

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