April 2023 Lower Mainland Monthly Market Update

by anjaradoja | Apr 5, 2023 | Uncategorized

April 2023 – Lower Mainland Monthly Update (REBGV & FVREB)

Metro Vancouver & Fraser Valley sales in March climbed substantially from February.

The most reliable indicator of market prices is the Sales to Active Listings Ratio (SAL). This is the ratio between the number of sales in a given month and the number of active listings at month-end.

In hotter markets in BC, a long-term analysis has shown that prices will usually act in the following ways:

7+ Months of Inventory (Under 14% SAL): Prices will likely DECLINE
5 – 7 Months of Inventory (14% – 18% SAL): Prices will likely be STABLE
Less than 5.5 Months of Inventory (Over 18% SAL): Prices will likely RISE

Visit this link to learn more about house prices and inventory.

Sales

Sales in March remained slow as a result of limited inventory.

Cumulative Year-to-date Sales

2023 is off to a slower start as sales (8,439) remain far below the 10-year average (12,557). .

Inventory

March inventory (13,150 active listings) increased only slightly from the previous month, and are more than 20% below the 10-year average (16,914 average).

Sales to Active Listings

Despite the low sales, even lower inventory kept the Sales to Active Listing Ratio above 31%, indicating rising prices.

Months of Inventory

Similarly, Months of Inventory fell to 3.2 MOI, indicating a shift back to a seller’s market and rising prices.

Want to learn more about these stats or discuss your move to Macdonald Realty?

Check out careersinbcrealestate.com to connect today!

Jonathan Cooper rejoins Macdonald Realty as President

by anjaradoja | Mar 23, 2023 | Company Announcements, Newsroom, Uncategorized

Jonathan Cooper rejoins

Macdonald Realty as President

VANCOUVER, B.C. – (March 22, 2023) – Macdonald Realty, Western Canada’s largest independent real estate brokerage with over 1,100 agents and $9.7 billion in sales in 2022, has appointed Jonathan Cooper as its new President, replacing Dan Scarrow who will be moving to run the company’s development and investment arm.

Jonathan previously worked at Macdonald from 2006 – 2016, rising to become VP Operations before joining Holborn Group as Chief Operating Officer for the past 6 years. During his time away, Jonathan developed many skills across various areas of responsibility, including development projects, sales and marketing, legal, and asset management for Holborn’s substantive hotels and other commercial real estate holdings. Jonathan also completed his Masters Degree in Real Estate from Georgetown University in 2019.

Jonathan will be working directly under CEO Lynn Hsu and with the senior management team. His operational background will be a great asset to the organization and he is looking forward to reconnecting with old friends and colleagues.

In addition to these two moves, Macdonald Realty continues to add to its best-in-class managing broker team. Last year, they introduced 3 new Managing Brokers: David Langlois, Jeannie Shaver, and Andrea Thon. This year, they will be adding 3 more: Bob Milloy, John Anderson, and Matthew Lee, bringing the total Managing Broker team at Macdonald up to over a dozen.

Founded in Vancouver in 1944, Macdonald Realty is B.C.’s largest full-service corporately owned real estate company, with more than 20 offices and 1,100 agents and staff in the province. It boasts more nearly $10 billion in annual sales.

In addition to residential sales, Macdonald Commercial has about 40 commercial agents with a head office in Vancouver, a Fraser Valley office in South Surrey, and an office in Victoria. Macdonald Property Management currently manages over $6 billion in B.C. properties; and Macdonald Platinum Marketing has sold over $2 billion in luxury new construction, the company says.

Led by CEO Lynn Hsu, Macdonald Realty is the largest company in B.C. that is owned and operated by a woman.

You can reach Jonathan at jcooper@macrealty.com.

Young Elite Year-End Gala 2022

by anjaradoja | Mar 7, 2023 | Awards

Young Elite Year-End Gala 2022

Young Elite Vancouver Business Association (Y.E.) is an organization that is committed to offering opportunities to young entrepreneurs and business leaders, through recognition of success and the offering of connection opportunities.

Each year, Y.E. offers a handful of awards to young entrepreneurs, leaders, and outstanding individuals through a Young Elite Year-End Gala. In 2022, Macdonald Realty was lucky to be a part of this gala with our CEO, Lynn Hsu, presenting two Elite Awards. One award went to Ming Yang, the Founder of Honolulu Coffee Vancouver, and the other went to Crystal Hung, the Founder of Icon Marketing Inc.

Ming Yang grew up in Anhui, China. After living in the UK for 8 years, she moved to Vancouver in 2012, after completing her Master’s degree in Engineering from Imperial College London. Being in love with both coffee and the island vibes in her life, Ming brought Honolulu Coffee from Hawaii in 2016 and founded Honolulu Coffee Vancouver. In 2022, this Aloha-drive brand expanded to 3 locations in Vancouver. “Aloha means love, peace, compassion, and a mutual understanding of respect. These are the values I strive to deliver”.

Crystal Hung is a pioneer and serial entrepreneur in Vancouver. In 2011, she founded Icon Marketing, one of the first multi-disciplinary real estate brokerages in the city. Raising the bar in everything they do, her firm has been recognized by top industry accolades, such as the Georgie Awards for Best Brand Identity and Best Marketing Campaign of The Year from the Homebuilders Association of Vancouver. Crystal was recognized as Business in Vancouver’s Top 40 Under 40, Business Elite’s Top 40 Under 40, and is a recipient of the Top 75 Canadian Immigrant Award.

Congratulations Ming Yang and Crystal Hung!

March 2023 Lower Mainland Monthly Market Update

by anjaradoja | Mar 6, 2023 | Uncategorized

March 2023 – Lower Mainland Monthly Update (REBGV & FVREB)

Metro Vancouver & Fraser Valley sales in February remained sluggish as buyers continued to adjust to the new interest rate environment.

The most reliable indicator of market prices is the Sales to Active Listings Ratio (SAL). This is the ratio between the number of sales in a given month and the number of active listings at month-end.

In hotter markets in BC, a long-term analysis has shown that prices will usually act in the following ways:

7+ Months of Inventory (Under 14% SAL): Prices will likely DECLINE
5 – 7 Months of Inventory (14% – 18% SAL): Prices will likely be STABLE
Less than 5.5 Months of Inventory (Over 18% SAL): Prices will likely RISE

Visit this link to learn more about house prices and inventory.

Sales

Sales in February remained sluggish as buyers continued to take a breather to adjust to the new interest rate environment.

Cumulative Year-to-date Sales

2023 is off to the slowest start in over 10 years as sales (4,354) remain far below the 10-year average (7,125).

Inventory

February inventory (12,276 active listings) increased only slightly from the previous month, and are 20% below the 10-year average (15,783 average).

Sales to Active Listings

Despite the low sales, low inventory kept the Sales to Active Listing Ratio above 22%, indicating stabilizing prices.

Months of Inventory

Similarly, Months of Inventory fell to 4.5 MOI, indicating a shift back to a slight seller’s market.

Want to learn more about these stats or discuss your move to Macdonald Realty?

Check out careersinbcrealestate.com to connect today!

February 2023 Lower Mainland Monthly Market Update

by anjaradoja | Feb 6, 2023 | Uncategorized

February 2023 – Lower Mainland Monthly Update (REBGV & FVREB)

Metro Vancouver & Fraser Valley sales in January fell to their lowest level in over 10 years

The most reliable indicator of market prices is the Sales to Active Listings Ratio (SAL). This is the ratio between the number of sales in a given month and the number of active listings at month-end.

In hotter markets in BC, a long-term analysis has shown that prices will usually act in the following ways: