Summer market was good to Buyers & Sellers!

quick sale, over asking price not uncommon"

Much of the activity was likely attributed to rising interest rates which caused many buyers to expedite the home search or risk loosing out on record low mortgage rates.

Though we're still off the 10 year sales average, things continued to improve giving sellers the opportunity to make their move. Buyers capitalized on a balanced market with prices, vs. year ago, down marginally or stable depending on the area/type of home.

However, as in any market, there is a shortage of certain types of homes for sale keeping buyers and their realtors on their toes for new listings as they come to market. A quick sale (under 1 month), over the asking price is not uncommon on sharply priced / well-presented properties.

Entry level and investment properties ($300-$550K) seem to be leading the market charge. The rental market is strong with tight supply & strong demand making investors take action while there are some great opportunities for condo/townhouse shoppers.

Off-shore, up-scale home buyers took a step-back over the last few months. Perhaps much of their interest has shifted south of the border at least for the time being.

Family, friends, associates buying or selling?

As always, your referrals are welcome & very much appreciated.

Good selling,



Wayne

"FULL MARKET UPDATE"- (REBGV)
Sales/ Listings Statistics and Graphs for all areas.

All information is approximate

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