Irena Shantz with RE/MAX LifeStyles Realty in Maple Ridge says housing sales have been steadily increasing since the beginning of this year.

Irena Shantz with RE/MAX LifeStyles Realty in Maple Ridge says housing sales have been steadily increasing since the beginning of this year.

Selling your home now? Market needs it

Sales of detached homes, townhouses and apartments are all up in the Maple Ridge and Pitt Meadows

If you’re looking to sell your home, and you have a well-kept house that’s valued in the $400,000 to $500,000 range, now would be a great time to list.

That’s the word from local realtors Irena Shantz and Terry Passley, who are busy, busy these days because such homes are selling like hotcakes right now.

It’s kind of unusual, they both admit, given that real estate sales typically slow right down in the summer months, but the market has been on an upswing since April and each agrees it shows no signs of slowing down anytime soon.

Sales of detached homes, townhouses and apartments are all up in the Maple Ridge/Pitt Meadows area, with townhomes leading the charge at a whopping 29-per-cent increase over last year for the period April through June. Apartment sales –primarily new inventory – showed a 28-per-cent increase for the same period, and detached homes showed a 20 per cent gain.

The big problem right now, says Irena Shantz of Re/Max Lifestyles Realty, is that there isn’t enough inventory available when it comes to single family detached houses.

“Unique properties are staying on the market a long time,” the long-time Maple Ridge real estate agent says. “Anything below $500,000 that is presented nicely is selling fast.”

Shantz notes “unique” properties might include those that are custom builds, have specific geographic issues (flood plains for instance), or ones that are more expensive.

Terry Passley, a veteran agent with Coldwell Banker Tri-Tel Realty, concurs when it comes to the “sweet spot” in the current market.

“It’s definitely hard to find inventory in the lower price range right now,” he notes, adding that anything under $500,000 is tough to find, while there’s much more to choose from in the $500,000 to $700,000 range.

Passley says he believes the market has turned a corner, and is finally rising to the 2011 levels that followed the 2008 market implosion. He’s seeing more building, with “builders absorbing existing lots because they’re feeling more confident in the marketplace.”

He’s also bullish when it comes to buying apartments because there’s currently a glut of new units on the market thanks to a recent building boom.

He says there are a lot of good deals on apartments right now because the market has a large supply and developers are willing to help would-be buyers get into one of those units.

Shantz’ assessment of the situation is that now is definitely a good time to put a house on the market if it’s priced in the lower range.

“The momentum indicates we’re moving back towards the 2011 high. We’re not quite there, but it’s moving in the right direction.”

Though she doesn’t have a crystal ball, Shantz says she doesn’t see any impediments to the market staying buoyant… unless the government, CMHC or the Bank of Canada have something to spring on the market that they haven’t hinted at.

“There’s always talk, but I don’t think we need to worry in the short term.”

Passley, too, doesn’t see anything in the near future that might affect the market adversely. He says Maple Ridge and Pitt Meadows should continue to do well because they’re better priced when compared to communities west and south, and because of those communities’ proximity to Mother Nature.

“Yesterday I had people from Calgary in the car because they wanted to be close to nature, and the day before it was people from Burnaby. We have what people want.”

Statistics from the Real Estate Board of Greater Vancouver at the end of June show that Maple Ridge and Pitt Meadows combined saw 394 detached home sales from April through June compared to 328 in the same period in 2013. Townhouse sales were 150 in 2014 compared to 118 in 2013, and apartment sales were 100 in 2014 compared to 76 the previous year.

Detached home listings for the same period were down eight per cent this year compared to last, while attached and apartment listings were down 21 and 19 per cent respectively.

“Over the last three years we’ve seen changes in demand yet home prices at the regional level have remained relatively stable,” said REBGV president Ray Harris. “The sales-to-active-listing ratio currently sits at 21.3 per cent in Greater Vancouver, which is the highest this measure has been since June 2011.”



Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Police tape is shown in Toronto Tuesday, May 2, 2017. (Graeme Roy/The Canadian Press)
CRIME STOPPERS: ‘Most wanted’ for the week of Feb. 28

Crime Stoppers’ weekly list based on information provided by police investigators

Phyllis Neufeld was on the Alouette River dike in Pitt Meadows on Wednesday, Feb. 17, 2021, when she took this photo. (Special to The News)
SHARE: Sun breaks through a rainy Pitt Meadows sky

Send us your photo showing how you view Maple Ridge or Pitt Meadows, and it could be featured soon.

The artwork is by Caitlin Legault who is not the only local person grateful to those who work in health care. A local letter writer recently had to go to hospital and wanted everyone there to know that their efforts are appreciated. (Special to The News)
LETTER: Pitt Meadows letter writer grateful for all those who cared for her at hospital

Staff in every department worthy of praise, local woman says

Devin Martinson sent in some views that caught his eye. (Special to The News)
SHARE: Urban and rural views of Maple Ridge

Send us your photo showing how you view Maple Ridge or Pitt Meadows, and it could be featured soon.

Ron Paley didn’t let the rain stop him from exploring Golden Ears Park on Alouette Mountain recently. (Special to The News)
SHARE: The eerie beauty of Golden Ears Park

Send us your photo showing how you view Maple Ridge or Pitt Meadows, and it could be featured soon.

Abbotsford’s Kris Collins turned to TikTok out of boredom when the provincial COVID-19 lockdown began in March 2020. She now has over 23 million followers on the video app. Photo: Submitted
Internet famous: Abbotsford’s Kris Collins is a TikTok comedy queen

Collins has found surprise stardom alone with a phone

Alina Durham, mother of Shaelene Bell, lights candles on behalf of Bell’s two sons during a vigil on Saturday, Feb. 27, 2021. (Jenna Hauck/ Chilliwack Progress)
VIDEO and PHOTOS: Candlelight vigil for missing Chilliwack woman sends message of hope

Small group of family, friends gathered to shine light for 23-year-old mother Shaelene Bell

Jasmine and Gwen Donaldson are part of the CAT team working to reduce stigma for marginalized groups in Campbell River. Photo by Marc Kitteringham, Campbell River Mirror
Jasmine’s story: Stigma can be the hardest hurdle for those overcoming addiction

Recovering B.C. addict says welcome, connection and community key for rebuilding after drug habit

A Vancouver restaurant owner was found guilty of violating B.C.’s Human Rights Code by discriminating against customers on the basis of their race. (Pixabay)
Vancouver restaurant owner ordered to pay $4,000 to customers after racist remark

Referring to patrons as ‘you Arabs’ constitutes discrimination under B.C.’s Human Rights Code, ruling deems

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Approximate location of the vehicle incident. (Google Maps)
Vehicle incident blocking Coquihalla traffic in both directions

Both directions of traffic stopped due to vehicle incident

Judith Uwamahoro is Black, approximately 4’7″ tall, 80 pounds and has short black hair and brown eyes. (Surrey RCMP handout)
UPDATED: Lower Mainland 9-year-old located after police make public plea

Judith Uwamahoro went missing Friday at around 4 p.m. in Surrey

Five-year-old Nancy Murphy wears a full mask and face shield as she waits in line for her kindergarten class to enter school during the COVID-19 pandemic on Tuesday, September 15, 2020. THE CANADIAN PRESS/Nathan Denette
Variant of concern linked to COVID-19 outbreak at three Surrey schools

Cases appear to be linked to community transmissions, but schools will remain open

Nanaimo children’s author and illustrator Lindsay Ford’s latest book is ‘Science Girl.’ (Photo courtesy Lindsay Ford)
B.C. children’s writer encourages girls to pursue the sciences in new book

Lindsay Ford is holding a virtual launch for latest book, ‘Science Girl’

Most Read