As a key economic driver in BC, the real estate market is happily humming along in our fair city. There was a 14.5% increase in residential property sales this September; 3,345 compared to the 2,922 sales reported in September 2014. This is only a slight 0.5% decrease to August 2015 sales.

Let’s review the Real Estate Board of Greater Vancouver’s September Stats as a big picture. Knowing where your homes stands in the grand scheme of Vancouver’s market will help you prepare to sell it, or know what’s a good buy and what isn’t. 

September sales were 32.9% above the 10-year average, even though the total number of properties for sale listed on MLS® was 27% less than September 2014, and .8% less than August 2015.

Sales-to-Active-Listings ratio: 31%

Benchmark price for all residential properties in Metro Vancouver is $722,300

A 13.7% increase from September 2014

Detached property sales totaled 1,272; a 0.2% increase from September 2014
Benchmark price for a detached property is $1,179,700

Apartment property sales totaled 1,529; a 28.7% increase from September 2014
Benchmark price for an apartment property is $415,100

Attached property sales totaled 544; a 17.2% increase from September 2014
Benchmark price for an attached unit is $518,600

(Photo: Alex Costin)

Luxury real estate is rising across Canada along with the rest of the market. Homes priced over $1 million were up in Vancouver, Victoria, Toronto, and Montreal; whereas Calgary saw a decrease by 28% in sales from the same seven month period in 2014. The high demand for luxury homes from foreign buyers and overall price appreciation—driven by low inventory and high demand for single-family homes--factor into this affluent market.

Most of Vancouver’s foreign buyers in the luxury market are families with children who have chosen Canada for its stable economy and high quality of life. Their real estate decisions are based on investment opportunities and proximity to good schools. Favouring new builds with top-quality finishes, they are huge contributors to the market’s impressive gains: 572 properties over $3 million sold between January 1st and July 31st, a 79% gain over 2014.

The luxury condominium market tends to revolve around Baby Boomers who are downsizing in retirement. They tend to be travelers who spend part of their time in a second home, and these $1 million+ condos are chosen for their luxury amenities without the maintenance of a house.

A growing trend in the luxury real estate market is buyers who bypass the MLS system all together and make offers directly to homeowners through their agents. Unlike “For Sale By Owner” sales, the sellers in these transactions are trusting experience agents to get them top dollar.

This reflection of the first seven months in Vancouver’s luxury market is expected to continue through the end of the year for a very profitable—and luxurious—2015.

When it comes to dining out with kids, the right restaurant can make all the difference. We’ve rounded up the local favourites that pair great food with a family-friendly atmosphere for a unique and relaxed experience.

1. Indulge in local, organic ingredients atop tasty pizza pies and craft beers and wines at the Rocky Mountain Flatbread Co.. Kids can watch dinner being made in the clay, wood-fired oven or occupy themselves in the play area before enjoying simplified, kid-priced versions of grown-up classics. Make it a Sunday night tradition; from 5:00 – 7:00 is Family Night where kids can roll out their own dough and top it off with their favourites.

2. Designed by moms for moms, the Kokopelli Café on Dunbar is made for kids, so parents can enjoy leisurely homemade lunches too. Laid out to be stroller-friendly, there’s a play area for toddlers and understanding staff. Stop in for takeaway, homestyle meals for no-brainer dinners as well!

3. Satisfy your sushi craving at Kamei Royale in the heart of downtown. The spacious restaurant serves up an array of rolls for every palate and with multiple tatami rooms, dining out can still be private enough to coral the kids in your own corner. The bustling atmosphere ensures a few loud patrons won’t make a difference, either.

4. Finer dining can still be had with kids at The Keg. We suggest the Granville Island location for short impromptu pre-dinner walks with plenty for the kids to see. Friendly staff also deliver snacks and colouring activities so parents can actually peruse the menu.

5. For something a little different, the Storm Crow Tavern is awesome for families with older children. The self-proclaimed “Planet Hollywood for geeks” has an abundance of board games for patrons to play, as well as plenty of memorabilia to check out while you wait for your meal. Well-priced eats come in all forms including vegan and gluten free.

Know of any other family friendly restaurants great for kids young and old? Share with us!

The City of Vancouver regulates how property is used and developed through something called “zoning.” The city is divided up into many different zoning districts and each has its own set of bylaws and schedules that determine the purpose of that particular district, building regulations, and other aspects of development. Learn more about the city’s zoning districts here.

Want to know what zone your property or one you’re interested in is part of? Check out the city’s official directory.

So you know what a zone is and which one you’re a part of. Next step: rezoning. There are three types of rezoning:

1. Create a custom, site-specific zone
2. Change the zoning of an area from one standard zoning district to another
3. Change the rules about what is permitted within a specific zone

We’ve rounded up our top five picks for places to sip, savour, and enjoy the remainder of summer on sun-drenched patios for every budget.

1. Reflections Outdoor Restaurant and Lounge (pictured) offers a tranquil oasis of wood, firelight, and shimmering water amongst the concrete surroundings of Vancouver’s rooftops. Nestled on the 4th floor of the Hotel Georgia, Reflections is downtown’s hidden gem for sipping the afternoon away with artisanal cocktails. Spanish-style share plates based on locally-sourced West Coast ingredients and a well-appointed wine list round out the bar menu.

2. Downtown’s other darling, Joe Fortes Seafood & Chop House boasts a comfortable rooftop patio overlooking the entertainment of Robson Street. An iconic Vancouver establishment for over 25 years, Joe Fortes offers up classic American cuisine with the freshest and finest in seafood from around the Pacific Northwest. The patio itself is an ode to its West Coast heritage: laid-back luxe with plenty of buzz.

3. Find yourself in the picturesque garden setting of Vancouver Art Gallery’s Café for delicious, fresh eats that are both local and organic. The cafeteria-style Gallery Café offers live classical music and whimsical design for an all-together luscious afternoon among the flora.

4. The cheerful red umbrellas that mark Tap and Barrel’s chill patio in Olympic Village shield patrons from the sun, while allowing for fantastic views of some of Vancouver’s best landmarks: False Creek, Science World, BC Place and Rogers Arena. The Tap and Barrel features a continuously rotating tap to serve up an ever-changing menu of seasonal brews from BC’s best breweries. Savour long into the night alongside one of their cozy outdoor fireplaces.

5. There’s several around the lower mainland, but our favourite Boathouse Restaurant is in Kitsilano. With the best patio of the bunch, it’s perfectly situated overlooking Vancouver’s busiest beach scene and the ocean beyond. The heated, covered patio is open both summer and winter so you can indulge in great views and scrumptious pub food all year long.

The gloriously lazy days of summer are slowly drawing to an end, which means if you’re still thinking of putting your house up for sale in 2015, now’s the time to prepare. From choosing the right time to put up that For Sale sign to staging, hiring an agent, and all the other important details involved in ensuring a successful sale; it’s best to organize your “To Do” list as early as possible. Things happen, not always good; so if there’s plenty of time to meet them head-on you’ll come out on top.

To get you started, we’ve got the Real Estate Board of Greater Vancouver’s Summer Stats. Knowing where the market stands and how your home compares is the first step in preparing to sell. Next step? Call us to make an appointment so we can help you on your journey.