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Receive more information about Cherry Tree Place
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MLS® Disclaimer for BC: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.
Building Info
Cherry Tree Place - 8120 Colonial Drive, Richmond, BC V7C 4V2 NWS917. Located in West Richmond Area on Colonial Drive. Cherry Tree Place is an affordable family-oriented townhouse complex well known for its park-like setting and well maintained grounds. This is a central location that is close to transit. Direct access to the Railway Avenue, No 1 Road and other major routes allows an easy commute to surrounding destinations including Steveston Village, fantastic Terra Nova Rural Park, Quilchena Golf and Country Club and direct routes to Vancouver, New Westminster and Burnaby. Cherry Tree Place is just a short stroll to Grauer Elementary and Burnett Secondary Schools, Thompson and West Richmond Community Centre, Seafair Shopping Centre, Blundell Pizza, Takeya Sushi and Hugh Boyd Park with its great sport facilities. Convenient location offers very short drive to Blundell Plaza, Richmond Central Mall and Garden City Plaza. Cherry Tree Place offers 84 units in a well maintained, recently renovated four level complex built in 1980. Most units have patio or private large balcony, covered parking stall, in suite laundry, excellent floor plan, bright and spacious, laminate floor and tile and lots of space for storage. Complex offers outdoor pool, hot tub, club house, playground, recreation centre and caretaker. Cherry Tree Place is a well maintained complex. Cherry Tree Place offers great living in the heart of the desirable, quiet and peaceful area.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 30,944 in 2020, a 22.1 percent increase from the 25,351 sales recorded in 2019, and a 25.7 percent increase from the 24,619 homes sold in 2018.
November 2020 Market Insights
REBGV 23% increase on Listing in MLS from last year. For November 2020 over 4068 newly listed. Continuing demand for Detached Home and Townhouse with the benchmark price of $1,044,000
October 2020 Market Insights
October 2020 showing a robust Sales-to-Active Listing Ratio with a high mark of 30% means that Market conditions prices typically stable based on the given the baseline of 12-20%. Based on this given data the continued demand for Townhomes, Detached Homes
September 2020 Market Insights
September had a fantastic sales of 56% over the same period last year. Listings were 32% over last year
Real Estate Related News Articles(Sun and Province)Search News
Covid-19 pandemic cause increase demand for housing
“In the absence of a marked uptick in inventory, the current relationship between demand and supply supports continued double-digit average home price growth this year,” the real estate board’s chief market analyst, Jason Mercer, commented in the report.
The province has already introduced and extended a rent freeze during the COVID-19 pandemic, and it says in a news release Monday that new legislative changes will keep it in place through Dec. 31.
The pros and cons of purchasing the upgraded condo building compare to the newly build one
“Capacity is also a problem—most managers struggle to keep up with their day-to-day activities, so targeting reductions doesn’t happen much because they’re trying to keep their heads above water.”
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