Dan Muzzin CAdanmuzzin.ca/_media/Documents/DanMuzzin Newsletter... · 2017. 5. 3. · Dan Muzzin CA...

Dan Muzzin CA604 813 [email protected]

A Fresh Perspective

1575 Marine DriveWest Vancouver BCCanada V7V 1H9

If you find a property you love and you can afford it, it’s ok to buy it regardless of market conditions. You will be living in a home you really like and can pay for.

May 2017

In this issue:

• market update • new proposed rules in Ontario • great value – options • selected sales details

market update

The Real Estate Board of Greater Vancouver (REBGV) reported total MLS® residential property sales of 3,553 units in April, representing 1% fewer sales than in March, and 26% less than in April 2016. For the first four months of this year, condos and townhomes have accounted for almost 69% of all residential sales, up by over 10% from the 58% in the same period last year. At 7,813, the total number of residential property listings at April 30 was about 4% higher than at the end of March, and approximately 3% higher than at the end of April 2016. At 45%, the metro MLS® sales-to-active-listings ratio was 2% lower than in March.

North Shore home sales in April, at 348 units, were 2% lower than the 354 properties sold in March, and 30% fewer than the 498 sold in April 2016. The sales-to-active-listings ratio on the North Shore slipped to 38%, from 42% in March, reflecting 7% fewer-than-normal sales for April and 34% fewer listings than the normal # of properties for sale as at the end of April. The North Shore houses that did sell In April took an average of 11 weeks to sell, 2 weeks longer than it took for those that sold in March, and 6 weeks longer than the average of

5 weeks it took for houses that sold in April 2016. At April 30, there were 919 North Shore properties listed for sale (on MLS®) or 9% more than the 845 listings at the end of March, and 22% more than the 752 units for sale at April 30, 2016. Benchmark prices of houses are higher by 8% in North Vancouver and by 2% in West Vancouver, from 12 months ago.

As prices and market conditions can vary dramatically by neighbourhood, feel free to call Dan to better understand how the market is doing where YOU live. For the entire April 2017 REBGV market report, visit www.danmuzzin.com/news.html.

34%

66%

38%

0%

15%

30%

45%

60%

75%

A M J J A S O N D J F M A M J J A S O N D J F M A

2015 2016 2017

NorthShoreunitssoldas%ofac7velis7ngsDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604-813-3795

BalancedMarketSellersMarket↑

BuyersMarket↓

a Parent’s Guide to Raising Money-Smart kids

published by the Canadian Institute of Chartered Accountants

this communication is not intended to cause or induce breach of an existing agency agreement danmuzzin.com 2

for a free copy of this marvelous booklet, call Dan at 604-813-3795 or go to danmuzzin.com/resources.html

new proposed rules in Ontario

The market frenzy continues and every day we hear about the problems of unaffordably high housing costs in metro Vancouver. We know about all the legislated changes that have been introduced in the past year or so locally, but you may not know how other parts of the country are dealing with similar situations (notably, in metro Toronto).

The Ontario government has announced a housing package aimed at cooling a red-hot real estate market. Here are the 16 proposed measures…

1. A 15-per-cent non-resident speculation tax to be imposed on buyers in the Greater Golden Horseshoe area who are not citizens, permanent residents or Canadian corporations.

2. Expanded rent control that will apply to all private rental units in Ontario.

3. Updates to the Residential Tenancies Act.

4. A program to leverage the value of surplus provincial land assets across the province to develop a mix of market-price housing and affordable housing.

5. Legislation that would allow Toronto and possibly other municipalities to introduce a vacant homes property tax to encourage property owners to sell unoccupied units or rent them out.

6. A plan to ensure property tax for all residential properties is charged at similar rates.

7. A five-year, $125-million program aimed at encouraging the construction of new rental apartment buildings by rebating a portion of development charges.

8. More flexibility for municipalities to using property tax tools to encourage development.

9. The creation of a new Housing Supply Team with dedicated provincial employees to identify barriers to specific housing development projects to find solutions.

10. An effort to understand and tackle practices that may be contributing to tax avoidance and excessive speculation in the housing market.

11. A review of the rules real estate agents are required to follow to ensure that consumers are fairly represented in real estate transactions.

12. The launch of a housing advisory group which will meet quarterly to provide the government with ongoing advice about the state of the housing market and discuss the impact of the measures and any additional steps that are needed.

13. Education for consumers on their rights, particularly on the issue of one real estate professional representing more than one party in a real estate transaction.

14. A partnership with the Canada Revenue Agency to explore more comprehensive reporting requirements so that correct income and sales taxes are paid.

15. Set timelines for elevator repairs to be established.

16. Provisions that would require municipalities to consider the appropriate range of unit sizes in higher density residential buildings to accommodate a diverse of household sizes and incomes.

great value – options

In BC, there are hundreds of much more affordable, wonderful communities in which to live.

selected sales details Dan Muzzin 604-813-3795

chart data obtained from Real Estate Board of Greater Vancouver danmuzzin.com 3

The following charts show the inventory of North Shore homes for sale on the last day of each month from April 2015 to April 2017, and the sales for each month.

North Vancouver

West Vancouver

500

160

167197

142

166

0

125

250

375

500

Apr-1

5

Jun-

15

Aug-1

5

Oct-15

Dec-1

5

Feb-

16

Apr-1

6

Jun-

16

Aug-1

6

Oct-16

Dec-1

6

Feb-

17

Apr-1

7

attached & apartments Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795

257

168

167 160110

254

0

125

250

375

500

Apr-1

5

Jun-

15

Aug-1

5

Oct-15

Dec-1

5

Feb-

16

Apr-1

6

Jun-

16

Aug-1

6

Oct-16

Dec-1

6

Feb-

17

Apr-1

7

ac*velis*ngs(atmonthend)unitssold

detached Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795

131

72

27 28 30

80

0

125

250

375

500

Apr-1

5

Jun-

15

Aug-1

5

Oct-15

Dec-1

5

Feb-

16

Apr-1

6

Jun-

16

Aug-1

6

Oct-16

Dec-1

6

Feb-

17

Apr-1

7

attached & apartments Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795

475

352

109 11366

419

0

125

250

375

500

Apr-1

5

Jun-

15

Aug-1

5

Oct-15

Dec-1

5

Feb-

16

Apr-1

6

Jun-

16

Aug-1

6

Oct-16

Dec-1

6

Feb-

17

Apr-1

7

detached Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795

Units Sold

Apr 2015 - 167 Apr 2016 - 160 Apr 2017 - 110

Units For Sale

Apr 2015 - 475 Apr 2016 - 352 Apr 2017 - 419

At 348 in total, North Shore residential property sales in April were 2% fewer than in March and represents a sales level that is 7% lower than is usual for the month of April.

At 919, the # of properties for sale on the North Shore at the end of April increased by 9% from March 31, to a level that remains 34% lower than is usual for the end of April.



20 40 60 80Blueridge-BLBoulevard-BDBraemar-BRCalverhall-CV

CanyonHeights-CYCapilanoNV-CA

CentralLonsdale-CLDeepCove-DCDelbrook-DEDollarton-DOEdgemont-EDForestHills-FH

GrouseWoods-GWHamilton-HM

HamiltonHeights-HHIndianArm-IAIndianRiver-IR

LowerLonsdale-LLLynnValley-LVLynnmour-LYNorgate-NG

Northlands-NLPembertonHeights-PH

PembertonNV-PNPrincessPark-PPQueensbury-QURochePoint-RP

Seymour-SYTempe-TE

UpperDelbrook-UDUpperLonsdale-UL

Westlynn-WLWestlynnTerrace-WT

WindsorPark-WPWoodlands-Sunshine-WS

914

35

364128

3614

10411

276

16221

9437

234

161414

12

1

43

3

10

1

4616

2313

6

72

31

Dan Muzzin

Macdonald Realty Ltd.

danmuzzin.com

604-813-3795

detached(254) aVached/apts(166) 20 40 60 80

Altamont-ALAmbleside-AM

Bayridge-BRBriYshProperYes-BPCanterburyWV-CB

Caulfeild-CACedardale-CDChartwell-CW

ChelseaPark-CPCypress-CY

CypressParkEstates-CEDeerRidgeWV-DR

Dundarave-DUEagleHarbour-EH

Eagleridge-ERFurryCreek-FCGleneagles-GLGlenmore-GM

HorseshoeBayWV-HBHoweSound-HS

LionsBay-LBOldeCaulfeild-OC

PanoramaVillage-PVParkRoyal-PR

PorteauCove-POQueens-QU

Rockridge-RRSandyCove-SCSenYnelHill-SH

UpperCaulfeild-UCWestBay-WBWesthill-WH

WestmountWV-WMWhitbyEstates-WE

Whytecliff-WC

17

4811

745

236

222711

3213

61

91010797

2

223410

29

514

108

18

2

1

1

11

4

18

1

7

16

23

5

Dan Muzzin

Macdonald Realty Ltd.

danmuzzin.com

604-813-3795

detached(419) aVached/apts(80)

# of North Shore properties for sale at April 30, 2017 (on MLS®) North Vancouver West Vancouver



properties sold during the month, as a % of properties for sale at end of the month

average # of weeks it took for detached houses to sell

22%33%

19%

0%

25%

50%

75%

100%


2015 2016 2017

WestVancouverDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604-813-3795

unitssoldas%ofac<velis<ngs

detached-16%aBached-38%

44%

109%

60%

0%

25%

50%

75%

100%


2015 2016 2017

NorthVancouverDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604-813.3795

BalancedMarketSellersMarket↑

BuyersMarket↓

detached-43%aBached-86%

12 15 13 16 12 16 14 13 14 12 9 9 7 8 6 9 10 12 6 18 14 21 11 13 17 0

5

10

15

20

25


2015 2016 2017

weeks WestVancouverDan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795

6 8 5 6 6 4 5 5 5 5 4 2 3 2 3 5 5 6 5 8 9 8 7 7 7 0

5

10

15

20

25


2015 2016 2017

weeks NorthVancouverDan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795

avg # weeks to sell (detached houses)



do housing conditions in your neighbourhood favour sellers, buyers or are they in balance?

single-family detached houses sold in April 2017, as % of the number of houses for sale at April 30, 2017

44% 43% 0% 0% 44% 0% 58% 63% 33% 17% 107% 60% 25% 0% 0% 0% 0% 67% 69% 50% 100%100% 56% 0% 67% 14% 0% 133% 25% 19% 50% 29% 0% 0% 50% 43%0%

10%

20%

30%

40%

50%

0%

10%

20%

30%

40%

50%

Blueridge

Boulevard

Braemar

Calverhall

CanyonHeights

CapilanoNV

CentralLonsdale

DeepCove

Delbrook

Dollarton

Edgemont

ForestHills

GrouseWoods

Hamilton

HamiltonHeights

IndianArm

IndianRiver

LowerLonsdale

LynnValley

Lynnmour

Norgate

Northlands

PembertonHeights

PembertonNV

PrincessPark

Queensbury

RochePoint

Seymour

Tempe

UpperDelbrook

UpperLonsdale

Westlynn

WestlynnTerrace

WindsorPark

Woodlands-Sunshine

NorthVanTotal

NorthVancouverDan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795

SellersMarket↑

BuyersMarket↓

BalancedMarket

12% 17% 0% 20% 0% 13% 0% 9% 0% 0% 9% 0% 28% 8% 17% 100% 11% 30% 0% 14% 0% 14% 0% 50% 0% 9% 33% 25% 20% 0% 33% 40% 14% 20% 13% 16%0%

10%

20%

30%

40%

50%

0%

10%

20%

30%

40%

50%

Altamont

Ambleside

Bayridge

BriVshProperVes

CanterburyWV

Caulfeild

Cedardale

Chartwell

ChelseaPark

Cypress

CypressParkEstates

DeerRidgeWV

Dundarave

EagleHarbour

Eagleridge

FurryCreek

Gleneagles

Glenmore

HorseshoeBayW

V

HoweSound

LionsBay

OldeCaulfeild

Panoram

aVillage

ParkRoyal

PorteauCove

Queens

Rockridge

SandyCove

SenVnelHill

UpperCaulfeild

WestBay

Westhill

Westm

ountWV

WhitbyEstates

Whytecliff

WestVanTotal

WestVancouverDan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795



compare 2008 – 2017 Sales and Listings

for the month of April

113 109 121 133 118 119 141 167 160 110

average 129

0

40

80

120

160

200

240

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017

detached Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604.813.3795

106 133 155 116 113 105 112 167 197 142

135

0

40

80

120

160

200

240

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017

attached & apartments Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604.813.3795

219 242 276 249 231 224 253 334 357 252

264

0

70

140

210

280

350

420

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017

total Dan Muzzin Macdonald Realty Ltd. danmuzzin.com 604.813.3795

295 328 404 341 333 479 409 257 168 254

average 327

0

70

140

210

280

350

420

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017


450 494 538 547 620 601 642 500 160 166

472

0

100

200

300

400

500

600

700

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017


745 822 942 888 953 1,0801,051 757 328 420

799

0

200

400

600

800

1,000

1,200

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017


North Vancouver units sold monthend listings

65 59 91 141 83 61 76 109 113 66

average 86

0

30

60

90

120

150

180

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017


24 16 21 35 30 26 23 27 28 30

26

0

10

20

30

40

50

60

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017


89 75 112 176 113 87 99 136 141 96

112

0

35

70

105

140

175

210

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017


452 463 458 385 475 585 511 475 352 419

average 458

0

100

200

300

400

500

600

700

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017


130 178 200 130 160 190 176 131 72 80

145

0

40

80

120

160

200

240

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017


582 641 658 515 635 775 687 606 424 499

602

0

150

300

450

600

750

900

Apr2008

Apr2009

Apr2010

Apr2011

Apr2012

Apr2013

Apr2014

Apr2015

Apr2016

Apr2017


West Vancouver units sold monthend listings



Lynn Valley housing snapshot – April 30, 2017 For a housing snapshot of your neighbourhood …call Dan

4 5 3 5 2 2 4 1 2 1 1 2 1 1 2 2 3 2 1 8 9 2 6 4 7 0

2

4

6

8

10


2015 2016 2017

weeks LynnValleyDan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795

avg # weeks to sell (detached houses)

1,240

1,473 1,573

22

10

20

17 16

11

0

400

800

1,200

1,600

2,000

0

10

20

30

40

50


2015 2016 2017

$000LynnValleyDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

averagesellingprice#housesforsaleatendofmonth#housessoldeachmonth

44% 43% 0% 0% 44% 0% 58% 63% 33% 17%107%60% 25% 0% 0% 0% 0% 67% 69% 50%100%100%56% 0% 67% 14% 0% 133%25% 19% 50% 29% 0% 0% 50% 43%0%

10%

20%

30%

40%

50%

0%

10%

20%

30%

40%

50%

Blueridge

Boulevard

Braemar

Calverhall

CanyonHeights

CapilanoNV

CentralLonsdale

DeepCove

Delbrook

Dollarton

Edgemont

ForestHills

GrouseWoods

Hamilton

HamiltonHeights

IndianArm

IndianRiver

LowerLonsdale

LynnValley

Lynnmour

Norgate

Northlands

PembertonHeights

PembertonNV

PrincessPark

Queensbury

RochePoint

Seymour

Tempe

UpperDelbrook

UpperLonsdale

Westlynn

WestlynnTerrace

WindsorPark

Woodlands-Sunshine

NorthVanTotal

NorthVancouverDan Muzzin Macdonald Realty Ltd. danmuzzin.com 604-813-3795

balancedmarketunitssoldas%oflisWngsatmonthend

SellersMarket↑

BuyersMarket↓

BalancedMarket

sales details for selected North Vancouver neighbourhoods

chart data obtained from Real Estate Board of Greater Vancouver danmuzzin.com

9

1,131

1,606 1,601

6

911

5

9

40

400

800

1,200

1,600

2,000

0

5

10

15

20

25


2015 2016 2017

$000BlueridgeDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,450

1,801 1,743

5 4

9 9

14

6

0

500

1,000

1,500

2,000

2,500

0

5

10

15

20

25


2015 2016 2017

$000BoulevardDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,488

2,109

2,454

39 26

21 20

36

16

0

600

1,200

1,800

2,400

3,000

0

15

30

45

60

75


2015 2016 2017

$000CanyonHeightsDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,349

1,687 1,897

12

58

812

7

0

500

1,000

1,500

2,000

2,500

0

7

14

21

28

35


2015 2016 2017

$000CentralLonsdaleDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,023

1,713

2,008 11

35

68

5

0

400

800

1,200

1,600

2,000

0

7

14

21

28

35


2015 2016 2017

$000DeepCoveDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,642

2,858 3,071

9

5

64

10

6

0

700

1,400

2,100

2,800

3,500

0

5

10

15

20

25


2015 2016 2017

$000ForestHillsDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,240 1,473

1,573

22

10

20

17 16

11

0

400

800

1,200

1,600

2,000

0

10

20

30

40

50


2015 2016 2017

$000LynnValleyDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,528

2,138 1,966

97

7

1

16

3

0

600

1,200

1,800

2,400

3,000

0

5

10

15

20

25


2015 2016 2017

$000UpperDelbrookDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,863

2,291 2,523

14 12

1310

14

15

0

600

1,200

1,800

2,400

3,000

0

7

14

21

28

35


2015 2016 2017

$000EdgemontDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,115

1,842 1,891

20 19

11

20

14

7 0

500

1,000

1,500

2,000

2,500

0

10

20

30

40

50


2015 2016 2017

$000UpperLonsdaleDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

0"50"$25"25"J" F"

"average"selling"price" "#"houses"for"sale"at"end"of"month" "#"house"sales"for"month"

sales details for selected West Vancouver neighbourhoods

[email protected] danmuzzin.com

This communication is not intended to cause or induce breach of an existing agency agreement

10

4,866

7,761

4,568 15 10

3

5

17

2

0

1,800

3,600

5,400

7,200

9,000

0

6

12

18

24

30


2015 2016 2017

$000AltamontDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

2,441

3,093 3,387 47

36

14 14

48

8

0

1,000

2,000

3,000

4,000

5,000

0

15

30

45

60

75


2015 2016 2017

$000AmblesideDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

3,138

4,494 4,467

86

53

12 15

74

15

0

1,200

2,400

3,600

4,800

6,000

0

20

40

60

80

100


2015 2016 2017

$000Bri:shProper:esDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

2,138

2,923

3,770 35

21

47

23

3

0

1,000

2,000

3,000

4,000

5,000

0

10

20

30

40

50


2015 2016 2017

$000CaulfeildDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

4,729

5,885

9,400

25

14

84

22

2

0

1,800

3,600

5,400

7,200

9,000

0

7

14

21

28

35


2015 2016 2017

$000ChartwellDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

2,796 3,521 3,246

19 18

127

32

9

0

1,000

2,000

3,000

4,000

5,000

0

10

20

30

40

50


2015 2016 2017

$000DundaraveDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,275

1,987 2,000

11

11

36

13

10

800

1,600

2,400

3,200

4,000

0

7

14

21

28

35


2015 2016 2017

$000EagleHarbourDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

1,203

1,688

13

7

3 3

9

00

500

1,000

1,500

2,000

2,500

0

7

14

21

28

35


2015 2016 2017

$000LionsBayDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

2,136

3,460 3,000

16 11

87

10

2

0

800

1,600

2,400

3,200

4,000

0

6

12

18

24

30


2015 2016 2017

$000Sen:nelHillDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

5,743

7,917

16

10

20

10

2

0

1,800

3,600

5,400

7,200

9,000

0

7

14

21

28

35


2015 2016 2017

$000WhitbyEstatesDanMuzzinMacdonaldRealtyLtd.danmuzzin.com604.813.3795

0"50"$25"25"J" F"

"average"selling"price" "#"houses"for"sale"at"end"of"month" "#"house"sales"for"month"

Dan Muzzin CAdanmuzzin.ca/_media/Documents/DanMuzzin Newsletter... · 2017. 5. 3. · Dan Muzzin CA...

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