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Just Sold in New Westminster: Stunning Townhouse Finds Its New Owner!


A Fantastic Home in a Thriving Community

We are thrilled to announce the successful sale of a beautiful townhouse in New Westminster! Located in a vibrant neighborhood with top-rated schools, parks, and shopping centers, this property (MLS #: R2966204) is now off the market. If you’ve been considering buying or selling in this sought-after area, now is the time to act!

A Look at the Property: Classic Charm with Future Potential

  • MLS #: R2966204

  • Property Type: Townhouse

  • Bedrooms: 4

  • Bathrooms: 3

  • Floor Size: 2,398 sqft

  • Zoning: RT-2A

  • School Catchment:

    • Richard McBride Elementary

    • New Westminster Secondary

Why This Townhouse Was a Hot Listing

With a 27.60% sales-to-active ratio, the New Westminster market remains highly competitive. This townhouse stood out for several reasons:

  • Prime Location: Situated in a family-friendly neighborhood with easy access to Richard McBride Elementary and New Westminster Secondary.

  • Spacious and Modern: Designed for comfortable living, offering ample space for families or professionals.

  • Convenient Amenities: Close to local parks, shopping centers, and transit options for effortless commuting.

Discover the Charm of New Westminster

Living in New Westminster means enjoying a perfect blend of urban convenience and natural beauty. Here are some highlights of the area:

  • Parks & Recreation: Queens Park is a community favorite, offering green spaces, sports facilities, and playgrounds.

  • Shopping & Dining: Columbia Street and Royal City Centre feature a variety of shops, restaurants, and cafes for every taste.

  • Easy Transit Access: The property is near SkyTrain stations and major roads, making commuting to downtown Vancouver a breeze.

Thinking of Selling? Let’s Make It Happen!

This successful sale proves that homes in New Westminster are in high demand. If you’re thinking about selling, now is the perfect time to maximize your property’s value.

Contact us today to learn how we can help you achieve top results!

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February 2025 Metro Vancouver Real Estate Market Update

Balanced Market Conditions Continue as Inventory Rises and Sales Slow

February 2025 saw Metro Vancouver’s housing market maintain balanced conditions, as inventory levels increased while sales activity slowed. With a potential Bank of Canada rate cut expected in mid-March, both buyers and sellers are navigating a market that offers the highest level of selection seen since pre-pandemic times.

Market Overview: Sales & Inventory Trends

  • Sales: Residential sales across Metro Vancouver totaled 1,827 in February, an 11.7% decrease from February 2024 and 28.9% below the 10-year seasonal average.

  • New Listings: 5,057 new listings entered the market, marking a 10.9% increase year-over-year and 11.6% above the 10-year seasonal average.

  • Total Listings: Active listings reached 12,744, representing a 32.3% increase from February 2024 and 36.4% above the 10-year seasonal average.

  • Sales-to-Active Listings Ratio: The overall ratio was 14.8%, indicating a balanced market where prices tend to remain stable.

📌 Market Insight:
The increase in new and active listings is giving buyers more choices, but demand remains tempered due to economic uncertainty and higher borrowing costs.

Price Trends & Benchmark Values

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver sits at $1,169,100, reflecting:

  • A 1.1% decrease from February 2024.

  • A 0.3% decline compared to January 2025.

📉 What This Means:
With inventory growing and sales slowing, home prices are experiencing a flattening trajectory, consistent with balanced market conditions.

Breakdown by Property Type

Detached Homes

  • Sales: 477 units sold, down 14.8% from February 2024.

  • Benchmark Price: $2,006,100, up 1.8% year-over-year.

  • Sales-to-Active Listings Ratio: 10.7%, indicating mild downward pressure on prices.

Townhouses (Attached Homes)

  • Sales: 359 units sold, down 10.9% year-over-year.

  • Benchmark Price: $1,087,100, down 1.2% from February 2024.

  • Sales-to-Active Listings Ratio: 18.5%, suggesting a more balanced townhouse market.

Condominiums (Apartments)

  • Sales: 976 units sold, down 10.6% year-over-year.

  • Benchmark Price: $747,500, down 2.8% from February 2024.

  • Sales-to-Active Listings Ratio: 16.8%, maintaining stable conditions.


Regional Highlights: A Closer Look at Pricing and Market Trends

Each region in Metro Vancouver tells a different story, shaped by buyer demand, available inventory, and local economic factors. Here’s what the latest benchmark prices reveal about the housing landscape across Burnaby, New Westminster, Vancouver, and the Tri-Cities.

🏡 Burnaby: Market Stability Amid Growing Inventory

Burnaby continues to experience balanced market conditions, with slight price adjustments across all property types.

  • Burnaby East: $1,139,200 (Detached: $1,959,700 | Townhouse: $915,800 | Apartment: $784,900)
    📌 Insight: Prices in Burnaby East remain relatively stable, with detached homes seeing stronger resilience than other property types. Townhouses and apartments here offer more affordability compared to other Burnaby submarkets.

  • Burnaby North: $981,700 (Detached: $2,085,400 | Townhouse: $911,000 | Apartment: $732,000)
    📌 Insight: Benchmark prices have slightly softened, reflecting a balanced market where buyers have more choice. Apartments are holding steady at $732,000, making this a more accessible entry point for first-time buyers.

  • Burnaby South: $1,116,000 (Detached: $2,207,300 | Townhouse: $1,108,700 | Apartment: $823,100)
    📌 Insight: Burnaby South remains one of the higher-priced submarkets, particularly in the townhouse segment, where benchmark values exceed $1.1M. The price stability in this area suggests steady buyer demand despite increased inventory.

🏡 New Westminster: A Resilient Market for Buyers & Sellers

  • Overall Benchmark Price: $823,700 (Detached: $1,574,200 | Townhouse: $950,700 | Apartment: $657,600)
    📌 Insight: New Westminster continues to offer strong value compared to its neighboring cities, making it an attractive choice for first-time buyers.

🏡 Vancouver: A Tale of Two Markets

Vancouver's market remains diverse, with pricing shifting differently across the East and West.

  • Vancouver East (Benchmark: $1,215,300) remains more affordable than Vancouver West, particularly for apartment buyers at $684,800.

  • Vancouver West (Benchmark: $1,320,000) continues to command premium prices, with detached homes averaging $3.49M.

🏡 The Tri-Cities: A Market in Transition

The Tri-Cities (Coquitlam, Port Moody, and Port Coquitlam) continue to attract buyers seeking affordability and space, particularly as Vancouver’s prices remain high.

  • Coquitlam (Benchmark: $1,080,000) shows strong demand, with affordable apartment pricing ($732,000) keeping buyers engaged.

  • Port Moody (Benchmark: $1,077,900) remains a higher-priced area, with detached homes over $2M.

  • Port Coquitlam (Benchmark: $952,700) remains one of the most affordable options, making it a strong choice for first-time buyers.


Market Factors to Watch

🔹 Interest Rates: A Bank of Canada rate cut expected in March could make mortgages more affordable, stimulating demand.
🔹 Spring Market Activity: Historically, March to June sees increased buyer interest—watch for shifts in sales trends.
🔹 Economic Factors: Tariff-related economic uncertainties may impact investment and housing demand.

Key Takeaways for Buyers & Sellers

🔹 For Buyers:

  • More inventory means greater choice and less competition.

  • Potential rate cuts could improve affordability in the coming months.

🔹 For Sellers:

  • Pricing strategically is essential in this balanced market—overpricing may lead to longer time on market.

  • Spring could bring higher buyer activity, but patience is key.


Final Thoughts

With Metro Vancouver real estate continuing to balance out, both buyers and sellers are benefiting from more predictable conditions. If you're considering a move, let's discuss how this evolving market impacts your goals.

📩 Thinking of Buying or Selling?
Reach out for a personalized market strategy tailored to your needs.

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