"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.
With interest rates and housing supply increasing, Metro Vancouver home buyers are operating in a changing marketplace to begin the summer season.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,444 in June 2022, a 35 per cent decrease from the 3,762 sales recorded in June 2021, and a 16.2 per cent decrease from the 2,918 homes sold in May 2022.
Last month’s sales were 23.3 per cent below the 10-year June sales average.
“Home buyers have more selection to choose from and more time to make decisions than they did over the past year,” Daniel John, REBGV Chair said. “Rising interest rates and inflationary concerns are making buyers more cautious in today’s housing market, which is allowing listings to accumulate.”
There were 5,256 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2022. This represents a 10.1 per cent decrease compared to the 5,849 homes listed in June 2021 and a 17.6 per cent decrease compared to May 2022 when 6,377 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,425, a 3.8 per cent decrease compared to June 2021 (10,839) and a 4.1 per cent increase compared to May 2022 (10,010).
“We’re seeing downward pressure on home prices as we enter summer in Metro Vancouver due to declining home buyer activity, not increased supply,” John said. “To meet Metro Vancouver’s long-term housing demands, we still need to significantly increase housing supply.”
For all property types, the sales-to-active listings ratio for June 2022 is 23.4 per cent. By property type, the ratio is 14.3 per cent for detached homes, 31.5 per cent for townhomes, and 30.2 per cent for apartments.
Generally, analysts say 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.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,235,900. This represents a 12.4 per cent increase over June 2021, a two per cent decrease compared to May 2022, and a 2.2 per cent decrease over the past three months.
Sales of detached homes in June 2022 reached 653, a 48.3 per cent decrease from the 1,262 detached sales recorded in June 2021. The benchmark price for a detached home is $2,058,600. This represents a 13.4 per cent increase from June 2021, a 1.7 per cent decrease compared to May 2022, and a 1.8 per cent decrease over the past three months.
Sales of apartment homes reached 1,326 in June 2022, a 25.3 per cent decrease compared to the 1,774 sales in June 2021. The benchmark price of an apartment home is $766,300. This represents a 12.7 per cent increase from June 2021, a 1.7 per cent decrease compared to May 2022, and a 0.8 per cent decrease over the past three months.
Attached home sales in June 2022 totalled 465, a 36 per cent decrease compared to the 726 sales in June 2021. The benchmark price of an attached home is $1,115,600. This represents a 17.8 per cent increase from June 2021, a 2.2 per cent decrease compared to May 2022, and a 2.7 per cent decrease over the past three months.