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GARBUTT + DUMAS REAL ESTATE TEAM
630 Fifth St
New Westminster, BC, V3M 2X9
604.805.3115
info@gdrealestate.ca




James Garbutt

#POMOLIFE: EPISODE 4 – U-BICYCLE TOUR THROUGH NEWPORT

PORT MOODY! THE U-BICYCLE TOUR… DOES MONICA SURVIVE THE SKATE PARK?  FIND OUT BELOW!

We have passed by these U-bicycle stations all over Port Moody and finally decided to give it a go! Quick app download and we were on our way. Yes, we wore our helmets #safteyfirst!

Port Moody is surprisingly rideable, even for someone that hasn’t ridden in a hot minute. Guys, if you haven’t tried this you are missing out. We made it to Moody Ales from Newport Village in 8 minutes on our “Lunch Break”!

 

 

Spring 2019 Market Update

Surprise surprise… It’s slow. In terms of units sold, statistically the month of March was the slowest it’s been in 33 years! However, don’t let the media headlines fool you, it’s not that bad for all property types. It may be a ‘Buyers Market’, particularly for luxury homes, fixer uppers and land value, but many entry level homes, condos and desirable areas are experiencing more of a ‘Balanced Market’, we have even experienced a few bidding wars. Check out this video to learn more about our thoughts on the 2019 Spring Market.

 

 

 

 

New Westminster Housing Market Update May 2017

MARKET UPDATE BY NEW WESTMINSTER REALTOR JAMES GARBUTT

May is here and it’s time for another New Westminster housing market update.

It’s been a bit of a crazy year, it started off with a lot of snow, followed by a lot of rain, which delayed everything and affected the number of sales that have taken place. In fact, numbers are down considerably. The number of sales of detached homes in New Westminster to date is 62. At this time last year, that number was 186–that’s essentially a third of the number of sales compared to last year and about half the number of sales compared to 2015. Not surprising considering the weather and considering everything that’s happened lately, and, openly, there just hasn’t been a lot of product and a lot of overpriced listings have been sitting on the market.

The sales ratio is the sales-to-active listings ratio or the number of sales that take place in a given month divided by the number of active listings. The sales ratio for detached homes in New Westminster is 30% across the board. That means, that of ten listings, 3 of them sell in a given month. Anything north of 21% is considered a seller’s market, so the market still is strong. Isolating the ratio to focus mainly on a lower price point, say detached homes under $1.2 million, the sales ratio goes from 30% to 70%. That means the out of 10 listings, 7 of them are selling in a given month, and that is a very strong seller’s market. So there’s clear demand for the more affordable price points.

The average detached home sold this year is going for $1.125 million and the average high sales of the year is $2.3 million; but there were two sales north of $2.2 million, both in ‘Queens Park‘.

The REBGV has shown that prices for detached homes in New Westminster have gone up 8% from this time last year; but we’re finding that, for nice family layouts, in a good location, in good shape, in the more affordable price bracket, they’re up about 10%. The busy street homes, the ones that have the land value, are struggling a bit; they’re at par with April of last year or maybe even a little bit below.

Moving forward, I expect the market activity to increase quite a bit; I think sales are just starting to ramp up and that the summer is going to be a busy one. Talk about things such as coach homes for lots over 6000sqft has held back a lot of the inventory as owners wait to see what happens. But, the weather is getting better and the supply is low and the demand is high, so if you are a homeowner and you’re thinking of selling, now is the time to do so.

Full Real Estate Board of Greater Vancouver Stat Package for April 2017

If you’re thinking of buying, selling or just curious about the value of a property, contact us today!

Contact Us Today

James Garbutt
Greater Vancouver Realtor

Vancouver too expensive? Move to New West!

As real estate prices in Vancouver’s neighbourhoods escalated out of reach, Vancouverites looking to own their home are heading east.

New Westminster Realtor James Garbutt says he’s seeing more and more buyers looking at the city as an affordable alternative to Vancouver, but without giving up the amenities of city life. While $1.2 million might get you a tear-down on a small lot in East Van, in New West it can put you in a beautifully-renovated Craftsman heritage home that’s centrally-located close to schools, parks, shopping and transit.

The city’s condo market offers similar value, says Garbutt. “Let’s take your typical 2 bedroom, 2 bathroom condo in a newer concrete high-rise. Currently in Yaletown or False Creek you’re looking at $1,100/sqft.  In Burnaby’s Brentwood Park area you’re looking at $800/sqft , and in Downtown New West this figure goes down to $625/sqft.”

That value isn’t going unnoticed in Vancouver. In fact, says Garbutt, over the past year about 30 percent of visitors to open houses he’s conducted in New West are from Vancouver.  For detached homes in particular the number is much higher.

Garbutt recently sold a beautiful Craftsman style home at 903 Henley St, New West. Roughly 75% of the open house visitors came from Vancouver.  It achieved multiple offers, and the buyer was a young professional couple from Downtown Vancouver.

 

Vancouverites are moving to New Westminster

This Craftsman heritage home in New Westminster was recently sold by Realtor James Garbutt to a couple from Vancouver.

 

For detached, single-family homes in New Westminster sold in 2016, 51 per cent of the buyers’ agents were from Vancouver, suggesting their clients likely are as well, says Garbutt. For condos, 36 percent of the buyers’ agents were from Vancouver.

“In New West, our main sources of buyers are coming from more expensive markets, primarily Vancouver,” says Garbutt.

 

Who’s buying houses in New Westminster

Who's buying houses in New Westminster

Where buyers are coming from to buy houses in New Westminster

Who’s buying condos in New Westminster

Who's buying condos and townhouses in New Westminster

Where condo and townhouse buyers in New Westminster are coming from

 

New Westminster is no longer a secret, says Garbutt. “It’s centrally located. There’s a great sense of community and local pride that many other suburbs lack.  And, quite frankly, it’s the most affordable community to buy into that’s within 30 minutes of Downtown Vancouver.”

The city is undergoing a renaissance. After languishing through the 1990s as a marketplace for cheap street drugs peddled by Honduran dealers loitering around its SkyTrain stations, Downtown New West has come alive with new restaurants, with more on the way. At Eighth and Columbia Streets, the gleaming Anvil Centre has replaced a squalid block of cigar shops and temporary employment agencies. The western end of historic Front Street has been opened to the sky with the partial demolition of the old parkade. The waterfront has been enlivened by Pier Park and the River Market.

The historic Queen’s Park neighbourhood abounds with lovingly-restored family heritage homes along quiet, leafy streets, and the Sapperton area surrounding Royal Columbian Hospital is alive with young families attracted to its affordable, smaller detached houses and new condo developments.

 

The leafy streets and lovingly-restored heritage homes of New Westminster’s Queen’s Park neighbourhood.

 

Progressive businesses like Steel & Oak Brewing Co.Brick + MortarEl Santo and 100 Braid St. Studios actively promote the city far and wide on social media using the hashtags #newwest or #theroyalcity, which have more than 130,000 posts on Instagram combined.

To preserve the city’s historic identity, City Hall is taking steps to implement historic design guidelines in neighbourhoods like Queen’s Park. The City works with developers to maintain historic building facades, like the Trapp & Holbrook and the Freemasons Hall, which is currently being transformed into a new residential development.

 

Vancouverites are attracted to New West

The City is working with developers like Robert Fung to preserve historic facades such as the Trapp + Holbrook condo tower on Columbia Street.

Vancouverites are buying in New West.

An architect’s rendering of a new residential development being built behind the preserved facade of the New Westminster Mason’s Hall on Agnes Street.

 

With the pressures of growth, New West is looking at finalizing a new Official Community Plan in June (check out the 25 year vision at: OUR CITY 2041), that will introduce higher density in certain neighbourhoods and laneway houses throughout the city.

The city is growing conservatively without losing its identity, says Garbutt. It’s being proactive about managing that growth. That’s attracting new businesses and new residents. Especially from Vancouver.

 

November 2013 Market Update

Steady trends continue in the Greater Vancouver housing market

Consistent home sale and listing activity has allowed balanced market conditions to prevail in the Greater Vancouver housing market for most of 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,321 on the Multiple Listing Service® (MLS®) in November 2013. This represents a 37.7 per cent increase compared to the 1,686 sales recorded in November 2012, and a 12.8 per cent decline compared to the 2,661 sales in October 2013.

Last month’s sales were 1.2 per cent below the 10-year sales average for the month, while new listings were 1.5 per cent above the 10-year November average.

“We’ve seen steady and consistent trends the Greater Vancouver housing market for much of this year,” Sandra Wyant, REBGV president said. “This year’s activity has resulted in gradual and modest increases in home prices of approximately one per cent over the last 12 months in the region.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,245 in November. This represents a 17.7 per cent increase compared to the 2,758 new listings reported in November 2012 and a 24.8 per cent decline compared to the 4,315 new listings in October of this year

Click Here for the Full Article

Click Here for the Full Stats Package

#304 290 Francis Way, New Westminster (The Grove – Victoria Hill)

  

The Grove at Victoria Hill – 2 Bed, 2 Bath, 951 SF West Facing unit overlooking the inner courtyard with Large Balcony. Very Quiet and surrounded by Greenspace this unit features a very spacious & open Living/Dining/Kitchen Area. Gourmet Kitchen with stainless steel appliances, lots of cabinets & island. Ideal Floorplan with two bedrooms located on opposite sides of the living room, Master Bedroom has walk-through closet leading into a Full Bathroom. Great Amenities at the Boiler House: Gym, Theatre, Study, Party Rm/Lounge, Outdoor Basketball Court. Central Locations, steps to Queens Park, 15min walk to Skytrain or 10 min Bus. Won’t last! Must See!

Virtual Tour

MLS Feature Sheet #304 290 Francis Way

 

#208 270 Francis Way, New Westminster. (The Grove – Victoria Hill)

  

The Grove, Victoria Hill – Gorgeous 2 bed, 2 bath West facing suite with large balcony overlooking the inner courtyard. Very quiet & private location, great floor plan, open concept living/dining/kitchen area. 2 bedrooms on opposite sides of the living room, 2nd bdrm has walk in closet, master bedroom has walk-through closet leading into a full bathroom. Gourmet kitchen with plenty of cabinet space, stainless steel appliances & granite counters (granite in bathrooms as well). Excellent amenities at the Boiler House; gym, theatre, study area, party room/lounge, basketball court. Great location, surrounded by parks & greenspace. 15 min walk to skytrain or 10 min bus. Suite shows well, priced to sell, must see.

Virtual Tour

MLS Feature Sheet 208 270 Francis Way

#33 – 245 Francis Way, New Westminster (Glenbrooke-Victoria Hill)

Glenbrooke- Victoria Hill.  Outstanding 1724ft² 3 bed, 2.5 bath END UNIT Townhome is privately situated at the back of the complex. Gorgeous River & Mountain views. Impressive home features high ceilings on the main, hardwood & laminate floors, beautiful kitchen cabinets, granite counters, stainless steel appliances, upgrade laundry, blinds & new carpet. 3 decks, backyard, spacious master bedroom with large walk-in closet+luxurious ensuite, 2 car tandem garage + Bonus Media Room. full Rainscreen, remainder of 5-10 yr. warranty. Low maintenance fees including outstanding Amenities at the Boiler House: Exercise Centre, Theatre Room, Study Area, Basketball Court, Lounge w/pool table. Excellent location. near Queens Parks, shopping, & transportation.

For complete listing click here.

MLS Feature Sheet 33 245 Francis Way

Censorio presents Elliot Street. An exciting Condo Tower in New West.

THE BEST VALUE IN METRO VANCOUVER STARTING FROM $159,900*!
Elliot Street is the most attainable concrete product in the Lower Mainland. 130 new homes in New Westminster.

LOCATION LOCATION LOCATION, Just 5-minutes from the SkyTrain, Elliot Street provides easy access to:

  • Downtown Vancouver – 26 minutes. A total of 31 minutes from your door.
  • Metrotown – 11 minutes
  • SFU Campus – 7 minutes
  • Green Space! Elliot overlooks a gorgeous 4.5acre park established in 1876.
  • Water views of Fraser River, North Shore mountains and skyline
  • Walk to Douglas College – 12 minutes
  • Proximity to all the amenities you need. Just 3-minutes to Starbucks!

Elliot Street
Censorio
Information Package
Floor Plans

New Developments in New Westminster.

New Westminster is becoming a bustling city centre for those looking for modern Vancouver convenience with a historic Victorian feel…and here are some great new developments that are coming up.

Downtown:
 BrickStone Walk Two: Townhomes from $189,900 to $449,900.  Nu-Gen Projects Ltd. introduces BrickStone Walk 2, a fresh Townhome concept in New Westminster. With 5,000 sq.ft. of beautifully landscaped courtyard and the convenience of  city living surrounded by a serene suburban feel. The Townhomes combine the rich heritage of the Royal City with the modern convenience you want in your home.

NorthBank: Ballenas Project Management brings modern Condo & Townhomes starting at $261,900.  Along the riverfront in the geographic centre of Metro Vancouver is New Westminster – a progressive city packed with urban conveniences and touches of Victorian charm. Standing proud on the terraced hilltop gives every Northbank home long, significant views – from the tranquil Fraser River to the distant snow-capped mountain ranges.

Trapp + Holbrook: 100 Condos under $299,900. One of the tallest buildings on Columbia Street during the Edwardian Era, the Trapp block formerly housed a warehouse and offices. Additions in 1913 offered a striking new facade with unique windows and handsome terra cotta tiles. The adjacent Holbrook building, a hotel and saloon, was constructed in the 1880s and rebuilt in brick, after the great fire of 1898. Today, the Trapp and Holbrook blocks remain as much of a landmark in the fabric of New Westminster’s historic district today as they did over 100 years ago. The historic Downtown district is evolving with the transformation of the Trapp and Holbrook blocks. This is the next great urban opportunity.

Elliot Street: Elliot Street is the most attainable concrete product in the Lower Mainland. With the Best Value in Metro Vancouver starting at just $159,900! Elliot Street Blog Post.

The Dominion: Ledingham McAllister is proud to introduce Dominion, our latest collection of residences coming soon to 6th and Royal in New Westminster.  Ledingham McAllister continues its tradition of building the lower mainland.

New Westminster Civic Centre: The civic centre will include a 350-seat theatre with flexible seating to accommodate a variety of productions, conference/ meeting space, art studios, an art gallery, tourist information centre, The City Museum & Archives, and The Canadian Lacrosse Hall of Fame.

Uptown and Fraiserview:
The Viceroy: Viceroy Condos is a new condo and townhouse project by Bosa Properties Inc. and BlueSky Properties currently under construction at Belmont St in New Westminster. The project is scheduled for completion in 2014. Available condos/townhouses range in price from $289,900 to over $563,900. The project has a total of 188 units.

Victoria Hill: Victoria Hill is New Westminster’s most exclusive new community.  A blend of distinctive yet cohesive neighbourhoods including landmark towers, townhomes, low-rise residences, and communal shops & services. A private paradise for a privileged few.
This master planned community includes The Grove, Whittaker, Parkside, Carlyle, Glenbrooke, Victoria Hill Lowrises,  Victoria Hill Luxury Highrise Residences, and Future Phases as well.

As always if you have any questions about the New Developments or New Westminster Real Estate give us a call!

Your Community: Queens Park, New Westminster.

The Queens Park neighbourhood in New Westminster is a quiet historical area with lots of greenspace and close to shops, schools, and parks.

Queens Park: This Park is one of the oldest in BC with great amenities and sports facilities this is a great area to live in especially for families. For more info on the history of Queens Park and its great facilities Click Here.

6th St: At the corner of 6th Ave and 6th St is a bustling core full of great shops, restaurants, cafes, and the New Westminster Public Library.
New Westminster Public Library

Walkscore neighbourhood

Royal City Centre 

Yelp Restaurants & Shops

Queens Park Meat Market : This little butchers shop has been at the corner of 4th Ave & 2nd St for 94 years and its patrons always have excellent reviews for Peter and his shop.  Queens Park Meat Market on Yelp.

Market Update:
11 Listed
Average list price: $1,162,000
Lowest list price: $785,000
Highest list price: $1,195,000 for 8 Bed/5 Bath 5,600 ft² 122 year old home.

21 Sales
Average sale: $1,162,000
Lowest sale: $560,000
Highest sale: $1,190,000 for 4 Bed/3 Bath 3,872  ft² 76 year old home.