Oakwyn Realty

Take a look at the current presale projects our agents are working on.

In 2022, Oakwyn is growing, expanding, and achieving more than ever before. Our Theme of the Year, Evolve, is at the core of our ongoing efforts to effect positive change in our lives, our work, and our communities. Ardent advocate for the Ronald McDonald House and Oakwyn Managing Broker Jenny Wun exemplifies our theme every day as she expands the Oakwyn brand to North Burnaby. 

We asked three of our Oakwyn Northwest agents, Manny Bal, Sam Cao, and David Tran, to share some special recommendations and insight for those new to North Burnaby and the Heights. 

Check out our agent highlights and recommendations below for family-friendly activities, great dining, luxury lifestyle, and more.

Located in bustling Burnaby Heights, Oakwyn Northwest will infuse Oakwyn’s values into their work in the North Burnaby market. “Burnaby is very much the artery for agents who live in the city and for agents who need a central hub to service the Lower Mainland real estate market,” Jenny says. We are thrilled to see Jenny build the Oakwyn name in North Burnaby with drive, initiative and heart.

Oakwyn Northwest agent Manny Bal was born and raised in Burnaby and is now raising his own family here. Manny says, “We love this city. The community is amazing. Something that Burnaby shares with Oakwyn’s brand and values is to always evolve, always push forward. And our tagline: work hard, stay humble.”

Sam Cao, also from the Oakwyn Northwest office, agrees. “It’s a fantastic neighbourhood with a very tight-knit community. My close friends, family, and clients are all moving here.” With “great coffeeshops, great mom ‘n’ pop shops, and great restaurants,” as Sam says, what’s not to love?

Come visit our agents in the heart of Burnaby Heights and see the best of Burnaby. The Heights is an urban hub with a vibrant community, one of the largest business centres in Burnaby, with murals, artistic and cultural events, and great options for dining, shopping, and more. Make a day trip of it to explore North Burnaby and chat with our agents about the endless possibilities for you in Greater Vancouver’s best kept secret: where high-end living coincides with countless hidden gems and hole-in-the-walls. 

For more information about North Burnaby and the new Oakwyn Northwest team, reach out to us to book an appointment, arrange a tour, or speak with our recruitment team.

To keep up with the latest Oakwyn news, be sure to follow us on Instagram and Twitter, and visit our website.

At Oakwyn we’re always wanting to present the facts in an engaging way. Every month, one of our agents will unpick current market statistics from the Real Estate Board of Greater Vancouver to help you understand what’s going on in the real estate market and what you should be looking out for.

March’s statistics report comes straight from Jeff Appelbe. You can read up on March’s insights below to stay up to date on another big month for the market.

The Real Estate Board of Greater Vancouver is reporting “March Home Sales Up 27% Since February,” but Jeff notes that sales increase seasonally from February to March every year. The more important metric for agents and buyers is the year-by-year comparison. March sales in 2022 were above the ten year average, which is consistent with the numbers we observed in February 2022 as well. 

While March was a busy month, inventory remains at a historic low. Another factor, which Jeff highlights as the real story this month, is a policy interest rate bump put into effect by the Bank of Canada on March 2nd, 2022. This is the first increase to the rate in four years.

Jeff notes that sales decreased significantly in the latter half of the month. There were 746 detached sales in the Fraser Valley in March, with only 33% of them occurring after March 16th. In East Vancouver and Burnaby combined, only 36% of sales were reported in the second half of the month as well. In terms of pricing, the Real Estate Board of Greater Vancouver is reporting that the MLS Benchmark Price showed a trend upward in pricing in most areas. Yet Jeff notes that the average and median prices are in fact lower than we might expect. 

While these numbers may seem all over the place, the truth, Jeff says, is that we’re at an inflection point. There’s evidence of change across the board, and we can expect more of it in April.

The Bank of Canada met again on April 13th, 2022. Analysts were predicting an overnight interest rate increase of 0.50%, in contrast to the usual 0.25% basis point. In fact, the Bank of Canada has reported an increase of 0.50%, for a net interest rate of 1.00%.

Jeff concludes that this rate increase will be the single greatest factor impacting sales—not government policy or budget changes. What really matters for agents and buyers is affordability, and the mortgage and interest rates that have been driving up prices.

Work with your Oakwyn agent, work with your trusted real estate advisor, and come up with a plan that makes sense for you in 2022 if you’re thinking about making a move.

To keep up with the latest market statistics and join the conversation, be sure to follow us on Instagram and Twitter, and visit our website.