The only thing that is Constant is Change - Heraclitus
Right now the market is quite variable. With the uncertainty surrounding the provincial government and the NDP/Green alliance certain sectors of the market are showing increased activity. For example, those who qualify for the current first-time homebuyer incentives are trying to close quickly to ensure that they can take advantage of the incentives before any changes can be made in particular, to the program introduced by the Liberal government at the beginning of this year. Others are waiting to see what changes the new government might bring.
Personally, I would recommend that Sellers consider listing as soon as possible as the NDP has hinted that it intends to bring in measures that will depress housing prices. On the other hand, if you don’t need to buy right away, I would suggest waiting to see what political measure are in place as the rapid price increases seems to have slowed. Of course, if you need more space for your family or have reasons why buying right away makes sense, at least the prices are starting to be closer to asking rather than the 10% or 20% above asking we were seeing a few weeks ago.
Looking back at May, the numbers were:
|
|
2 Bedroom |
1 Bedroom |
||||||
|
|
#Active |
/sq.ft. |
#Sold |
/sq.ft. |
#Active |
/sq.ft. |
#Sold |
/sq.ft. |
|
Woodwards |
4 |
$1,222 |
0 |
$-- |
2 |
$967 |
2 |
$1,019 |
|
Downtown |
341 |
$1,324 |
123 |
$1,155 |
279 |
$1,071 |
139 |
$1,037 |
|
Coal Harbour |
54 |
$1,719 |
18 |
$1,531 |
19 |
$1,383 |
6 |
$1,308 |
I would be happy to discuss your long and short term real estate strategies with you or how the market affects your personal property. Call or email me today!
Regards,
Kim
E&OE
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.
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