June sales - second all-time highest

Record low interest rates, more affordable pricing and improving consumer confidence have helped to waken the pent-up demand in our Real Estate market.

With a 27% decline in active listings and a 75% increase in sales, we are seeing a "Sellers market" in many categories. Multiple offers and moderate price increases are now common place in the entry-mid range market.

In Real Estate, timing is everything and those who bought in early Spring, while so many others sat on the sidelines, should give themselves a collective "pat on the back". Sales have been steadily improving for the past 3 months so it appears the slowdown is behind us.

But it remains a great time to buy! Most prices are still down from the highs
(-8% from June 08) and interest rates are at record lows. Shopping for a home in the entry level end can be challenging for buyers but opportunities are out there (for the time being), especially in the upper-end Condo/Townhome market.

Bright spots in Greater Vancouver sales, June 09 vs. June 08:
Houses:
Vancouver West. + 85%
Vancouver East. + 71%
North Van. + 96%
West Van . + 118%

Townhouses:
Vancouver West. +121%
Vancouver East. +118%
North Vancouver. + 121%

Condominiums:
Vancouver West. +87%
Vancouver East. +59%
West Vancouver. +155%
Source: Real Estate Board of Greater Vancouver.




*BUYERS TIP*

Considering buying a home in that slick, new Condo development?

Most Developers have adjusted prices to reflect todays market and selection is great. Once you decide on the project, consider other important factors that will effect re-sale such as; exposure/outlook, floor plan/ finishings and extras (parking, storage, upgrades etc.) that may be negotiated into the purchase.

Display homes have "their own sales staff representing the developers interests" but they understand the importance of Buyer representation and will welcome your Realtor. The prudent purchaser will ALWAYS have their own representation in this transaction to help them in the selection and negotiation for that perfect home.

*Remember, it does not cost the buyer anything for this Buyer Agency Representation as the developer/seller usually pays the commissions.

Do not "go it alone" (Buyer Beware). Your Realtor is there to guide you through the process while protecting your best interests.


quote:
"The only real mistake is the one from which we learn nothing".
source: unknown



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

All information is approximate. This communication not intended to solicit properties listed for sale.



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