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Listing Provided By Oakwyn Realty Ltd. 
MY MISSION
"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.
Sellers await buyers’ return after quieter summer market
Home sales registered on the MLS® in Metro Vancouver remained below their ten-year seasonal averages in August as summer holidays come to a close.
Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,904 in August 2024, a 17.1 per cent decrease from the 2,296 sales recorded in August 2023. This total was also 26 per cent below the 10-year seasonal average (2,572).
“From a seasonal perspective, August is typically a slower month for sales than June or July. In this respect, this August has been no different,” Andrew Lis, GVR’s director of economics and data analytics said. “With that said, sales remain in a holding pattern, trending roughly 20 per cent below their 10-year seasonal average, which suggests buyers are still feeling the pinch of higher borrowing costs, despite two recent quarter percentage point reductions to the policy rate this summer.”
There were 4,109 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2024. This represents a 4.2 per cent increase compared to the 3,943 properties listed in August 2023. This total was 1.7 per cent below the 10-year seasonal average (4,179).
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,812, a 37 per cent increase compared to August 2023 (10,082). This total is also 20.8 per cent above the 10-year seasonal average (11,432).
Across all detached, attached and apartment property types, the sales-to-active listings ratio for August 2024 is 14.3 per cent. By property type, the ratio is 9.6 per cent for detached homes, 18 per cent for attached, and 17.2 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.
“Buyers’ hesitancy to enter the market, paired with new listing activity on the part of sellers that is in line with historical averages, has allowed inventory to accumulate for a number of months and has moved the market firmly into balanced conditions,” Lis said.
“With the Bank of Canada’s decision to reduce the policy rate today by another quarter percentage point, and with September being a month that typically sees an increase in sales from a seasonal perspective, the fall market is set up to bring more buyers off the sidelines. We will watch the upcoming September data to see whether they decide to show up.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,195,900. This represents a 0.9 per cent decrease over August 2023 and a 0.1 per cent decrease compared to July 2024.
Sales of detached homes in August 2024 reached 509, a 13.9 per cent decrease from the 591 detached sales recorded in August 2023. The benchmark price for a detached home is $2,048,400. This represents a 1.8 per cent increase from August 2023 and a 0.1 per cent decrease compared to July 2024.
Sales of apartment homes reached 1,012 in August 2024, a 20.3 per cent decrease compared to the 1,270 sales in August 2023. The benchmark price of an apartment home is $768,200. This represents a 0.1 per cent decrease from August 2023 and a 0 per cent decrease compared to July 2024.
Attached home sales in August 2024 totalled 370, a 12.3 per cent decrease compared to the 422 sales in August 2023. The benchmark price of a townhouse is $1,119,300. This represents a 0.8 per cent increase from August 2023 and a 0.5 per cent decrease compared to July 2024.
August 2024 - Market Bullet Points
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Sales and Competition:
- Metro Vancouver home sales in August remained below seasonal averages, as summer holidays came to a close.
- Reduced buyer competition has led to accumulating inventory, moving the market toward balanced conditions.
Residential Sales Data:
- August 2024: 1,904 sales, a 17.1% decrease from August 2023.
- Sales were 26% below the 10-year seasonal average.
Market Dynamics:
- Buyers remain hesitant, likely due to high borrowing costs despite two rate cuts over the summer.
- Sellers continue to list properties at normal rates, contributing to balanced market conditions.
New Listings:
- August 2024: 4,109 newly listed properties, a 4.2% increase from August 2023.
- Listings were 1.7% below the 10-year seasonal average.
Current Listings:
- Total properties listed: 13,812, a 37% increase from August 2023.
- Listings were 20.8% above the 10-year seasonal average.
Sales-to-Active Listings Ratio:
- Overall: 14.3%
- Detached homes: 9.6%
- Attached homes: 18%
- Apartments: 17.2%
- 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:
- The Bank of Canada has reduced the policy rate by another 0.25%.
- A typical increase in sales is expected in September, with buyers possibly returning to the market.
Home Price Index:
- Composite benchmark price: $1,195,900.
- A 0.9% decrease over August 2023.
- A 0.1% decrease compared to July 2024.
Detached Homes:
- Sales: 509 in August 2024, a 13.9% decrease from August 2023.
- Benchmark price: $2,048,400.
- A 1.8% increase from August 2023.
- A 0.1% decrease compared to July 2024.
Apartment Homes:
- Sales: 1,012 in August 2024, a 20.3% decrease from August 2023.
- Benchmark price: $768,200.
- A 0.1% decrease from August 2023.
- No change compared to July 2024.
Attached Homes:
- Sales: 370 in August 2024, a 12.3% decrease from August 2023.
- Benchmark price: $1,119,300.
- A 0.8% increase from August 2023.
- A 0.5% decrease compared to July 2024.
