Buying a condo is a lot different than buying other residential properties. Do you want to buy a condo, but you’re not sure where to start? If that’s the case, there are 20 questions you should ask before you move forward with your purchase. For example, how many condos in the building are for sale? A high number may indicate some problems with the condo. To learn more, watch this short video.
Posted in: Burnaby home , Burnaby Home seller , Home Sell , November Market Report , Vancouver Home Buyer , Vancouver Home Buyer , Vancouver home seller
A Market Update and Some Predictions for 2018
We’ve got a lot to cover with you today. As we head toward the end of the year, I wanted to make sure you were aware of what’s going on in the Vancouver real estate market right now. I took a look at the numbers for both detached homes and condos and broke them down for you. I also have a few predictions about what we’ll be seeing in the market in 2018. To learn more, watch this short video.
Posted in: Home , Market Update , Vancouver , Vancouver Home Buyer , Vancouver Home Seller , Vancouver Real Estate
Now that fall is upon us, I’d like to take a look back at how our Central Vancouver real estate market fared over the month of September.
To start off, the detached housing market had a 14% sales-to-actives ratio. This is about 1% less than last month.
The reason this market hasn’t seen any increase in prices or activity is that total listing inventory has increased 36% since August. These factors are a strong indicator that we’re in a buyer’s market.
Let’s turn our attention to the condominium market. In that market, there was a 59% sales-to-actives ratio. This is about 11% less than last month.
The condo market is still red hot. Inventory is about 29% lower than last year and there are a lot of multiple offer situations taking place.
With all of this being said, I’m starting to notice my clients looking to sell their condos and buy detached homes instead.
Condo prices can only rise so much and the detached housing market is experiencing a temporary slowdown, so this is a great strategy.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
Posted in: BC , Canada , Interest Rates , Vancouver Home Buyer , Vancouver home seller , Vancouver home Seller , Vancouver Homeowner
What Do Changing Interest Rates Mean for You? The central bank recently raised the benchmark interest rate for the first time in seven years. What does this mean to you? For one, the rate increase reflects consumer confidence in our economy. Plus, if you’ve been thinking about making a move, you may want to get in the market sooner rather than later. To find out why, watch this short video.
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