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Arnold Shuchat PREC Real Estate Blog

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Here are some graphs which clearly illustrate the state of our real estate market in the Metro-Vancouver area.

On the inventory side, listings are very similar to last year. On all three property types, the total inventory is up by around 11%:


As far as the number of days on market, contrary to the fear in continuous media outlets about a market crash across the country, the time to sell a property has not materially increased since last year.  It has gone from 11 days to 14 days across all property types. Most appraisals will base the market value price of a property on an assumption that the property is marketed in an open market for 3-6 months. The 14 days is akin to real estate liquidity.

However, looking at the actual sales side of things we can see a marked slowdown which should be an indicator that prices should drop.


From a product absorption view, the sales to active listing ratio is comparable to October 2019. Sitting in the low 20% area represents a much more balanced market...

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This 5 minute video is a short legal history of how we got to the point where our government can intervene in a private contract. It imports references from the BNA Act, The Canadian Charter of Rights and most recently, The Property Law Amendment Act of British Columbia which provides buyers of residential real estate with a right of rescission with respect to contracts of purchase and sale for residential real estate.

https://www.loom.com/share/bda4a2f34e06490ca737f2db4596f6e0

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Are You a Risk Taker? Look Down!
I just got back from the 2022 IOI Summit Conference which was all about the future of real estate technology. But before I post anything about the technology side of the event, I want to deal with the elephant in the room and say what must have been nagging at the back of some attendees' minds, depending upon their year of birth, and, sorry ladies, but I think this is a man thing. I only heard one comment on this topic but something immediately clicked in my head: it wasn’t just me.

I am not a fashionista. I am a down to earth guy struggling with Whistler/Blackkomb Mountain’s definition of a senior. So when I packed my lightest possible version of comfortable clothes for this overnighter, a debate raged in my head about the appropriate level of “executive” footware having regard to image, comfort, style and traditional business “oxfords”. I opted for comfort and chose the purest reflection of my defiant persona eschewing that Harvard/Bostonian look...
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Open House. Open House on Saturday, September 24, 2022 2:30PM - 4:00PM

Please visit our Open House at 34 7540 ABERCROMBIE DR in Richmond. See details here

Open House on Saturday, September 24, 2022 2:30PM - 4:00PM

Corner unit with own entrance recently renovated with updated flooring, kitchen bathrooms and countertops. Quick possession possible. Huge and airy solarium off kitchen with 2 sets of French doors for either flow through to kitchen and living room or complete privacy as a guest room or den. Large storage locker for exclusive use of unit to the right of main entrance and a private patio to connect with the outdoors. Elevator from parking lot to entry level makes grocery shopping a breeze! Open House Sat Sept 24 2:30-4 pm.

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New property listed in Brighouse South, Richmond

I have listed a new property at 34 7540 ABERCROMBIE DR in Richmond. See details here

Corner unit with own entrance recently renovated with updated flooring, kitchen bathrooms and countertops. Quick possession possible. Huge and airy solarium off kitchen with 2 sets of French doors for either flow through to kitchen and living room or complete privacy as a guest room or den. Large storage locker for exclusive use of unit to the right of main entrance and a private patio to connect with the outdoors. Elevator from parking lot to entry level makes grocery shopping a breeze!

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I have sold a property at 305 1045 HOWIE AVE in Coquitlam
I have sold a property at 305 1045 HOWIE AVE in Coquitlam.
Penthouse Floor! Who wants to pay for someone else's idea of what good taste is? This unit has been discounted by $50,000 to give you all of the budget to renovate it professionally to your taste! Located about 200 meters from King Albert Park, and within view of your grocery and retail shopping, this is a prime and convenient location in which to live. Great space; Great street and great walks. Bring your dreams and vision and start building your real estate position here. One small dog, or one cat or two caged birds are allowed. Up to 3 units may be rented. There is currently a waitlist of 4 units. Pkg #54 Storage #305.
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I have sold a property at 305 13380 108 AVE in Surrey
I have sold a property at 305 13380 108 AVE in Surrey.
RFreshly painted and right in the centre of the city next to sky train and a short walk to Surrey Memorial Hospital. All of the local shopping you need right in the 'hood. Ask your Realtor to make an appointment. No dogs; 1 cat allowed. No Airbnb ST type rentals. No smoking/vaping. Ready for immediate occupancy!
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New property listed in Central Coquitlam, Coquitlam
I have listed a new property at 305 1045 HOWIE AVE in Coquitlam.
Penthouse Floor! Who wants to pay for someone else's idea of what good taste is? This unit has been discounted by $50,000 to give you all of the budget to renovate it professionally to your taste! Located about 200 meters from King Albert Park, and within view of your grocery and retail shopping, this is a prime and convenient location in which to live. Great space; Great street and great walks. Bring your dreams and vision and start building your real estate position here. One small dog, or one cat or two caged birds are allowed. Up to 3 units may be rented. There is currently a waitlist of 4 units. Pkg #56. Storage #305.
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New property listed in Whalley, North Surrey
I have listed a new property at 305 13380 108 AVE in Surrey.
Right in the centre of the city next to sky train and a short walk to Surrey Memorial Hospital. All of the local shopping you need right in the 'hood. Ask your Realtor to make an appointment. No dogs; 1 cat allowed. No Airbnb ST type rentals. No smoking/vaping. Ready for immediate occupancy!
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New property listed in Richmond
I have listed a new property at 155 11960 Hammersmith WAY in Richmond.
3520 sq ft of Industrial/Office space for lease in Ironwood section of Richmond. 2382 sq ft Warehouse & 1136 sq ft office. Grade level loading with 8 parking spots and room to maneuver. Office upstairs extends approximately 48' over the front part of the warehouse. Additional rent is currently $1,795.83/mo and consists of strata fees and property taxes.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.