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Bradley Wattum | REALTOR® - Clients First Since 2003

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Featured Listings

$7,800,000

5568 Heather Street, Vancouver, BC V5Z 3M4

4,639 SqFt

-- Beds | -- Baths

Listing Provided By Oakwyn Realty Ltd.
$6,999,000

33 E 6th Avenue, Vancouver, BC V5T 1J3

8,705 SqFt

5 Beds | 5 Baths

Listing Provided By Oakwyn Realty Ltd.
$5,950,000

909 913 915 Twelfth Street, New Westminster, BC V3M 4K5

-- SqFt

-- Beds | -- Baths

Listing Provided By Oakwyn Realty Ltd.
$5,288,000

7662 French Street, Vancouver, BC V6P 4V6

4,175 SqFt

9 Beds | 8 Baths

Listing Provided By Oakwyn Realty Ltd.
$5,070,000

4655 W 6 Th Avenue, Vancouver, BC V6R 1V6

3,893 SqFt

5 Beds | 3 Baths

Listing Provided By Oakwyn Realty Ltd.
$5,000,000

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21920 River Road, Richmond, BC V6V 1M4

9,372 SqFt

5 Beds | 4 Baths

Listing Provided By Oakwyn Realty Ltd.

MY MISSION

As your trusted advisor, my mission is to provide you with honest, reliable, and accurate advice based on my 19 plus years of Real Estate sales experience. Throughout the entire process, I am there for you. I am highly motivated and committed to your satisfaction. I am focused, involved, and hands on during the entire home purchase or sale from start to finish.

Clients First Since 2003.

Testimonials

"Bradley Wattum is my agent. He stepped up as a salesman, worked very hard and got my house sold for a good price. One can't go wrong enlisting him as listing agent. Great agent and a friend."

by John

"We have worked with Bradley as our realtor in 2014 purchasing our first home and the experience was excellent so when we decided to sell in 2017 the decision to contact Brad again was easy to make. His professionalism and easy going personality make you feel comfortable through every step of the buying/selling process and not once did we feel pressured to make any decisions we were not comfortable with. Bradley was able to get us in contact with a mortgage broker and home inspector that have both saved us money and enabled us to purchase the home we desired in the neighborhood we have started our family in. If you are looking for someone you can feel 100% confident in them we would highly recommend contacting Bradley."

by Mark & Tomo

"I had an outstanding experience when purchasing my first home and cannot thank Bradley enough for his professional help. Bradley guided me through every step, laid out everything very clearly and gave great advice. I especially appreciated Bradley’s non-pressure approach, his patience, and him giving his honest opinion about each place that we viewed. Thanks to his knowledge and experience, I found my perfect home in my desired location and within my budget. I feel very fortunate to have him as my realtor, and it was a pleasure to work with him. I would highly recommend Bradley to anyone."

by Sigrid

"We have known Bradley for over 10 years. He has assisted us with the purchase and sale of several properties, including a townhouse and condominium, as well as the most recent purchase of a home in Kerrisdale, as well as the sale of our home in Arbutus. Bradley is always very professional, prompt and answers all of our questions fully and without delay. He cares, understands our requirements, and consistently meets our expectations when either selling or buying a home. We would use Bradley’s services again in the future. Thanks Bradley!"

by Anna and James

"Bradley was hard working and very prompt with his service.He was courteous and professional in every aspect. I will definitely recommend him as a Realtor and now consider him my Realtor for future dealings."

by Laura M.

Market shifting in buyers’ favour, though hesitation remains

Metro Vancouver home sales registered on the MLS® remained below seasonal and historical averages in June. With reduced competition among buyers, inventory has continued to accumulate to levels not seen since the spring of 2019.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,418 in June 2024, a 19.1 per cent decrease from the 2,988 sales recorded in June 2023. This was 23.6 per cent below the 10-year seasonal average (3,166).

“The June data continued a trend we’ve been watching where buyers appear hesitant to transact in volumes we consider typical for this time of year, while sellers remain keen to bring their properties to market,” Andrew Lis, GVR’s director of economics and data analytics said. “This dynamic is bringing inventory levels up to a healthy range not seen since before the pandemic. This trend is providing buyers more selection to choose from and driving all market segments toward balanced conditions.”

There were 5,723 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in June 2024. This represents a 7 per cent increase compared to the 5,347 properties listed in June 2023. This total is 3 per cent above the 10-year seasonal average (5,554).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,182, a 42 per cent increase compared to June 2023 (9,990). This total is 20.3 per cent above the 10-year seasonal average (11,790).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for June 2024 is 17.6 per cent. By property type, the ratio is 13.1 per cent for detached homes, 21.1 per cent for attached, and 20.3 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“With an interest rate announcement from the Bank of Canada in July, there is a possibility of another cut to the policy rate this summer. This is yet another factor tilting the market in favour of buyers, even if the boost to affordability is modest,” Lis said. “But June’s lower-than-normal transaction volumes suggest many buyers remain hesitant, which has allowed inventory to accumulate and has kept a lid on upward price pressure across market segments. With that said, the transaction-level data do show that well-priced properties are still selling quickly, suggesting astute buyers are able to spot value and act when opportunities arise.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,207,100. This represents a 0.5 per cent increase over June 2023 and a 0.4 per cent decrease compared to May 2024.

Sales of detached homes in June 2024 reached 694, a 18.2 per cent decrease from the 848 detached sales recorded in June 2023. The benchmark price for a detached home is $2,061,000. This represents a 3.7 per cent increase from June 2023 and a 0.1 per cent decrease compared to May 2024.

Sales of apartment homes reached 1,245 in June 2024, a 20.9 per cent decrease compared to the 1,573 sales in June 2023. The benchmark price of an apartment home is $773,400. This represents a 1 per cent increase from June 2023 and a 0.4 per cent decrease compared to May 2024.

Attached home sales in June 2024 totalled 456, a 16.6 per cent decrease compared to the 547 sales in June 2023. The benchmark price of a townhouse3 is $1,138,100. This represents a 3 per cent increase from June 2023 and a 0.6 per cent decrease compared to May 2024.

FULL REPORT LINK HERE

June 2024 - Market Bullet Points

Sales and Competition:
- Metro Vancouver home sales in June remained below seasonal and historical averages.
- Reduced competition among buyers led to increased inventory levels, not seen since spring 2019.
Residential Sales Data:
- June 2024: 2,418 sales, a 19.1% decrease from June 2023.
- Sales were 23.6% below the 10-year seasonal average.
Market Dynamics:
- Buyers hesitant to transact in typical volumes.
- Sellers eager to list properties, leading to balanced market conditions.
- Inventory levels reached a healthy range, providing buyers with more selection.
New Listings:
- June 2024: 5,723 newly listed properties, a 7% increase from June 2023.
- Listings were 3% above the 10-year seasonal average.
Current Listings:
- Total properties listed: 14,182, a 42% increase from June 2023.
- Listings were 20.3% above the 10-year seasonal average.
Sales-to-Active Listings Ratio:
- Overall: 17.6%
- Detached homes: 13.1%
- Attached homes: 21.1%
- Apartments: 20.3%
- Downward pressure on prices if the ratio stays below 12% for a sustained period.
- Upward pressure on prices if the ratio exceeds 20% for several months.
Interest Rates and Market Impact:
- Potential for an interest rate cut by the Bank of Canada in July.
- Even a modest boost to affordability could tilt the market in favour of buyers.
- Lower-than-normal transaction volumes allow inventory to accumulate, limiting price increases.
- Well-priced properties still sell quickly, indicating that astute buyers can spot value.
Home Price Index:
- Composite benchmark price: $1,207,100.
- 0.5% increase over June 2023.
- 0.4% decrease compared to May 2024.
Detached Homes:
- Sales: 694 in June 2024, an 18.2% decrease from June 2023.
- Benchmark price: $2,061,000.
- 3.7% increase from June 2023.
- 0.1% decrease compared to May 2024.
Apartment Homes:
- Sales: 1,245 in June 2024, a 20.9% decrease from June 2023.
- Benchmark price: $773,400.
- 1% increase from June 2023.
- 0.4% decrease compared to May 2024.
Attached Homes:
- Sales: 456 in June 2024, a 16.6% decrease from June 2023.
- Benchmark price: $1,138,100.
- 3% increase from June 2023.
- 0.6% decrease compared to May 2024

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