Greater Victoria, Parksville and Nanaimo Real Estate Market Statistics – March 2017

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in March 2017.

Greater Victoria

In March 2017, there were 396 sales of single family homes and 418 active listings in the Greater Victoria. The benchmark sale price was $652,700 with an average days on market of 25. The hottest market for sales was Saanich East with 80 sales. There were also 21 sales and 117 active listings at the end of the month for waterfront homes.

In comparison, the Condo market had 294 sales, 265 active listings at the end of the month.  The benchmark sale price was $399,900 with an average days on market of 16. The hottest market for sales was Victoria, 103 sales.

Townhome sales were 76, active listings were 71 and the benchmark sale price was $513,300. The average days on market were 20, and the hottest markets were Victoria and Langford with 14 sales each.

It’s a seller’s market in Victoria.

MarketHotSheet_March2017_Victoria

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Macdonald Realty Website Recognized for Excellence

2017WQC_blueVANCOUVER, B.C. – (April 3, 2017) – Macdonald Realty has been awarded the Website Quality Certification (WQC) from Leading Real Estate Companies of the World, a global community of more than 550 high quality independent real estate firms in over 60 countries. The certification was presented in recognition of excellence in website design, content and functionality.

Macdonald Realty’s website, macrealty.com, received high marks in a variety of critical areas relating to website performance, including usability, design, content, interactivity, customer service and mobile responsiveness. The evaluation was conducted by Virtual Results, LLC, a real estate internet and social marketing firm selected by Leading Real Estate Companies of the World to review the websites of participating members.

The specific measurements for the WQC are updated each year to reflect the most current online marketing strategies, as well as evolving consumer preferences. Companies must be re-certified every two years to maintain the certification.

“The 140 companies that earned the WQC this year have created websites that engage consumers with thoughtful design, rich local content and up-to-date information on homes in the local market and around the world. We are pleased to recognize them for giving consumers a superior online experience and supporting that with exceptional customer support,” said Leading Real Estate Companies of the World President/CEO Pam O’Connor.

“We’re very excited to be one of the first Canadian real estate websites to earn the WQC designation. This lets our clients know they can search listings across BC, save and favourite properties, and connect with nearly 1000 real estate professionals using the latest technology in a secure environment,” said Rosey Hudson, Marketing Director of Macdonald Realty.  “For our internal website team this is recognition of the hard work that went into launching our new macrealty.com website last May, and a subsequent 300 agent websites in the latter half of 2016.  Macdonald Realty has made a significant investment in our online presence and are excited to roll out even more tools for our agents and clients in the next year.”

As a member of LeadingRE, Macdonald Realty provides a quality real estate experience, global marketing reach and access to top real estate professionals in markets spanning 6 continents.

For more information about Macdonald Realty, please visit macrealty.com.

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About Macdonald Real Estate Group:
Based in Vancouver, Canada, Macdonald Real Estate Group (MREG) has an annual sales volume of over $8 billion and over $2 billion in assets under management.  With 20 offices and nearly 1,000 staff and REALTORS®, MREG offers a full range of real estate services, including residential and commercial brokerage, property and strata management, project marketing, and the Canadian Real Estate Investment Centre in Shanghai, China.  Macdonald Realty is the residential division of Macdonald Real Estate Group. For more information, visit www.macrealty.com.

Macdonald Realty nominated for Top Luxury Brokerage Award

VANCOUVER, B.C. – (March 28, 2017) –   Macdonald Realty was nominated for the Luxury Portfolio International® Top Luxury Brokerage Award, presented for overall engagement in Luxury Portfolio; embracement of tools, meetings, events, advertising and brand usage; and outstanding marketing strategy in the discerning market of affluent buyers and sellers.  They were nominated with Slifer, Smith & Frampton Real Estate of Colorado and, the winner, Houlihan Lawrence Real Estate of New York. The award was presented during the Leading Real Estate Companies of the World™ Conference Week, a series of events that drew an impressive audience of 2,000 real estate professionals from 25 countries.  The conference took place at Fontainebleau Miami Beach earlier this month.

Macdonald Realty's Luxury Home Marketing Team of Alyssa Mori and Rosey Hudson at the Luxury Portfolio Summit in Miami Beach.

Macdonald Realty’s Luxury Home Marketing Team of Alyssa Mori and Rosey Hudson at the Luxury Portfolio Summit in Miami Beach.

Affiliates of Luxury Portfolio market high-end homes to affluent consumers worldwide through the network’s strategic marketing program, including the award-winning website Luxuryportfolio.com, which marketed over 50,000 luxury homes to over three million high-net-worth visitors last year and featured a total inventory of available properties exceeding $54 billion.

Macdonald Realty is the largest British Columbia representative of LeadingRE (www.LeadingRE.com). With a global membership that spans six continents, LeadingRE connects more than 550 firms and 130,000 sales associates who produce over 1.2 million real estate transactions each year. As a member of LeadingRE, Macdonald Realty provides a quality real estate experience, global marketing reach and access to top real estate professionals in virtually any market worldwide.

Since 1944, Macdonald Realty has been helping British Columbians make some of the biggest decisions of their lifetime during real estate transactions. Beyond their dedicated team of nearly 1,000 residential real estate professionals operating in 20 offices across BC, they are also Western Canada’s largest integrated real estate firm who’s services include residential sales; commercial sales and leasing; project marketing; property and strata management; mortgage services; and luxury home marketing.

For more information about Macdonald Realty, please visit macrealty.com

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About Macdonald Real Estate Group:
Based in Vancouver, Canada, Macdonald Real Estate Group (MREG) has an annual sales volume of over $8 billion and over $2 billion in assets under management.  With 20 offices and nearly 1,000 staff and REALTORS®, MREG offers a full range of real estate services, including residential and commercial brokerage, property and strata management, project marketing, and the Canadian Real Estate Investment Centre in Shanghai, China.  Macdonald Realty is the residential division of Macdonald Real Estate Group. For more information, visit www.macrealty.com.

Macdonald Realty: A Giant Tree from a Tiny Acorn

Vision and hard work – that sums up how Lynn Hsu grew a real estate company from one office to 20 offices and 1,000-plus employees, making it Western Canada’s largest full-service brokerage firm

  • luxury-home-listed-by-macdonald-realty
    Luxury home listed by Macdonald Realty

  • lynn-hsu-and-dan-scarrow-of-macdonald-realty
    Macdonald Realty's leaders: Lynn Hsu, owner and CEO, and Dan Scarrow, managing broker

  • the-wade-in-victoria-marketed-by-macdonald-realty-platinum-project-marketing
    The Wade in Victoria, marketed by Macdonald Realty's new-home marketing division Platinum Project Marketing

As seen in… Profiles of Excellence 2017

Originally from Taiwan, Hsu immigrated to Canada in the late 1970s – alone, with no family or friends, no job prospects and speaking little English. Today, she has turned Macdonald Realty into Western Canada’s largest full-service brokerage firm.

From the moment Hsu purchased that single boutique residential firm, she had a vision.

“The real estate industry has two distinct businesses – one creation, the other servicing. On the servicing side, almost all the companies in BC were a single-purpose company, i.e. residential or commercial brokerage, property management or project marketing firms,” says Hsu. “I wanted to create a company that could provide our clients all-encompassing real estate solutions under one roof –from guiding a home buyer through the biggest investment of their lives, helping an investor manage and add value to their properties, to assembling ground intelligence to assist developers to create the right products for the marketplace.”

Today, the company’s interests encompass residential sales, commercial sales and leasing, property management, strata management, development and project management, project marketing and mortgage brokering and lending. It now includes the Macdonald Commercial and Macdonald Realty Platinum Project Marketing divisions.

Dan Scarrow, vice-president, says it’s Hsu’s ability to hire the right people that also helped propel her to the top of the industry. “Lynn has always understood how important it is to empower employees. She is a leader who inspires people through a shared vision and she has created an environment where people feel valued and fulfilled,” says Scarrow. “Her strongest point is that she has never wavered from her commitment to serve and protect our customers.”

Hsu believes that a business model based on a fundamental principle of upholding the highest standard of excellence, coupled with a strong conviction that every problem has a creative solution, would allow Macdonald Realty to grow organically. “When you have the belief and knowledge that you are doing your best to adhere to your core values, problems, rather than deflating you, energize you to action,” adds Hsu.

Hsu went on to explain: “Professionalism and integrity mean a great deal to me and my entire team. They are our company’s core values.”

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Macdonald Realty’s Rosey Hudson Presented at Global Luxury Real Estate Conference

VANCOUVER, B.C. – (March 23, 2017) – Rosey Hudson, Marketing Director with Macdonald Realty presented at the Luxury Portfolio SUMMIT on February 28th at the Fontainebleau Miami Beach. This invitation-only event was hosted by Luxury Portfolio International®, the luxury face of Leading Real Estate Companies of the World.

Rosey Hudson, Marketing Director, Macdonald Realty

Rosey Hudson, Marketing Director, Macdonald Realty

The 2017 Luxury Portfolio SUMMIT kicked off by exploring the changing expectations of luxury consumers and what sales associates can do to better serve their clients and provide them with the “wow” that they are looking for. Participants engaged in a collaborative program focused on how the high-net-worth buy today, the five secret languages of communication, leveraging their Luxury Portfolio relationship, marketing strategies in a mobile and digital world, growing business with global buyers and attracting attention in a world of noise by learning public relations best practices.

Hudson spoke on best practices of Presenting Luxury Portfolio Successfully, sharing insights on how luxury real estate specialists can leverage the international exposure and marketing power of their Luxury Portfolio affiliation to increase local and global interest in luxury listings.

“Vancouver is a global gateway city and our luxury homes appeal to international buyers from Europe, America, Asia and the Middle East. Everyone in our market is aware that prestigious residences need to be marketed both locally and globally. Macdonald Realty is fortunate to be one of only 5 Canadian brokerages with access to Luxury Portfolio’s extensive international reach,” said Hudson.

Macdonald Realty is the largest Canadian Luxury Portfolio affiliate, along with Profusion Realty in Montreal, Harvey Kalles Real Estate in Toronto, CIR Realty in Calgary and The Whistler Real Estate Company in Whistler, BC.

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New Exemptions to the 15% Property Transfer Tax

EXEMPTION FROM THE 15% TAX

The original announcement that work permit holders would be exempt from the 15% additional property transfer tax was made on January 29, 2017.

On March 17, Premier Christy Clark finally introduced the details of the new exemption to the 15% property transfer tax applied to certain “foreign nationals” who purchase residential properties in the Greater Vancouver Regional District.  As we expected the devil is in the details.  There are a number of categories of work permit holders.  Just as we expected, it turns out that not all holders of work permits will be treated equally.  Most work permit holders will still have to pay the 15% tax.

The exemption from the tax will only apply to Provincial Nominees under the B.C. provincial nominee program (“PNP”).  They have to be “nominated” by B.C. so that other holders of work permits such as international students, executive transferees, or individuals nominated by other provinces will not qualify for the exemption.  Moreover:

  • The exemption only applies to provincial nominees who treat the property as a principal residence;
  • The exemption may be claimed only once. It the provincial nominee buys another GVRD property he must pay the 15% tax;
  • Evidence of provincial nominee status has to be provided at the time the documents are filed at the Land Title Office.

REFUNDS OF THE 15% TAX FOR CERTAIN INDIVIDUALS

The new rules also provide that the following buyers who have already paid the tax will be entitled to refunds:

  • Foreign nationals who held B.C. PNP certificates or were confirmed as provincial nominees and purchased GVRD residential property between August 2, 2016, and March 17, 2017;
  • Individuals who became permanent residents or Canadian citizens within one year of the date the property transfer was registered in the Land Title Office

Refunds for permanent residents and citizens can only be claimed:

  • in respect of only one property;
  • where the property has been used as a principal residence;
  • where the owner moved into the residence within 92 days of property registration; and
  • continued to live in the property for one full year after the date the property transfer was registered.

Clearly most work permit holders are still subject to the 15% tax.  It seems that the exemptions are designed primarily to accommodate the PNP holders working in B.C.’s growing high technology industry, the fear being that the high cost of housing may be an impediment to economic growth in this critically important sector.

Meanwhile, work permit “status” issues can be somewhat complex.  Foreign national buyers holding work permits and their realtor advisors who are uncertain about whether an exemption would apply should consider consulting their immigration and conveyancing lawyers before entering into a binding agreement to purchase GVRD residential property.


Written by Peter Scarrow, former immigration lawyer, currently is the Director of Asian Business at Macdonald Real Estate Group.

Macdonald Realty Wins Marketing Award at Global Real Estate Conference

VANCOUVER, B.C. – (March 15, 2017) – Macdonald Realty was presented with a marketing award from Leading Real Estate Companies of the World, a selective global community of the highest quality independent real estate firms. The award was presented during the Leading Real Estate Companies of the World™ Conference Week, a series of events that drew an impressive audience of 2,000 real estate professionals from 25 countries.

First Place in Referral Promotions Marketing

Macdonald Realty received the award for Referral Promotions, for superior marketing relating to referral contests and programs, helping raise awareness of the company’s global real estate capabilities through its affiliation with LeadingRE.  The company place in the largest category for companies with 500+ sales associates and was chosen for excellence in creativity, quality and overall presentation and effectiveness.

“Our marketing team works hard to give our agents the best tools to grow their businesses, as well as to showcase our own brand,” said Rosey Hudson, Marketing Director of Macdonald Realty.  “This award for our Referral Toolbox – a series of social media and traditional marketing pieces that help our agents engage their clients with “We’re Local, We’re Global” – is a major kudos to the whole team.”

“We are pleased to recognize the winners of our Marketing Contest for creating distinctive materials and campaigns that convey the unique character of their companies, with a focus on compelling content, original graphics and effective delivery,” said LeadingRE President/CEO Pam O’Connor. “Our visual display of these award-winning materials is always a highlight of our conference, providing inspiration to all of our members.”
Referral-Promotions-First-Place-2

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North Vancouver home featured on Love It or List It hits the market!

Looking for a stylish starter home in North Vancouver?  This new listing from Bri Ragona of Macdonald Realty was featured on HTGV’s hit show Love It or List It and in Style at Home magazine.  It proves the old adage that good things come in small packages and will make a stunning place to call home for a lucky buyer!  Stop by the open house this weekend to see it in person – Saturday and Sunday, March 18th & 19th, 2-4 PM.

457 E 11th Street, North Vancouver  |   View the MLS® listing #R2146302 here.

List Price: $1,498,000  |  Bedrooms: 3  |  Bathrooms: 1  |  Living Space : 2,588 sq ft  |  Lot Size: 36 x 147 (5,292.00)

1J6A7003

This charming 1912 character home is located in desirable Central Lonsdale.

The gorgeous open concept main floor has engineered hardwood throughout.

 

Enjoy stunning navy blue kitchen cabinets with sparkling white quartz countertops. High end stainless steal appliances including 36″ gas range and an additional oven.  Solid home – over 200K spent in upgrades.

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 Family room off kitchen with gas fireplace and custom built ins.

 

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1 bed on main floor and 2 large bedrooms up.

 

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The brand new 24×15 ft cedar deck is  perfect for entertaining and overlooks a large backyard.

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457 E 11th Street, North Vancouver  |   View the MLS® listing #R2146302 here.
Listed by Bri Ragona, Macdonald Realty Ltd., 604-783-0627  www.briragona.com

Read designer Jillian Harris’ LOVE IT OR LIST IT take on this old charmer’s miraculous update over on her blog jillianharris.com

Macdonald Realty’s Alyssa Mori Addresses Global Real Estate Event

Alyssa Mori, Relocation Director on an international panel at LeadingRE Annual Conference

Alyssa Mori, Relocation Director on an international panel at LeadingRE Annual Conference

VANCOUVER, B.C. – (March 13, 2017) – Alyssa Mori, Relocation Director with Macdonald Realty, spoke at the Leading Real Estate Companies of the World Annual Conference, which took place March 1-3 at the Fontainebleau Miami Beach. The conference was part of the Leading Real Estate Companies of the World (LeadingRE) Conference Week, a series of events that drew an impressive audience of 2,000 real estate professionals from 25 countries.

The prestigious event was open only to brokers, managers and relocation professionals affiliated with LeadingRE, a selective global community of the highest quality independent real estate companies. Attendees examined the dynamic factors impacting today’s real estate market and explored ways to best meet the needs of home buyers and sellers.

Mori presented information on Creating a Local Global Mindset sharing insights on how international relocations work, how they differ from country to country and how to set up a successful relationship with the client and destination brokerage.

“The insights the panel provided and our wildly differing business culture worldwide were eye opening to the mostly American audience. Being able to share how important it is to be culturally competent and recognized as a leader in this type of transaction was an honour,” said Mori. [Read more…]

Luxury Homes Collection Magazine Spring 2017

The new season brings us a fresh new offering of Macdonald Realty luxury homes. We have a bright outlook for 2017 with our CEO Lynn Hsu providing our front line remarks on the market and our outlook.

We are delighted to present our spring edition with our cover feature from Bowen Island, a wonderful West Coast retreat perfectly situated to take in the gorgeous views and Zen atmosphere of the quiet landscape.

In this edition, in conjunction with our affiliate partners Luxury Portfolio International®, their MarketPulse® article gives a round up of wine regions of the world to invest in. From Oregon to South Africa, these are new market interests for investors and owners seeking a burgeoning market or new way of life. British Columbia’s own Okanagan Valley is included, where there is ripe opportunity for someone looking for a new venture or adventure.

click magazine cover to view

click magazine cover to view

Have a browse of our edition and enjoy the beautiful landscapes and properties from around the province.

CLICK HERE to view the digital edition on your computer or tablet