Happy October everyone! I hope you’re enjoying the long weekends and Fall weather. The next interest rate announcement is scheduled for October 25th. The general consensus is that rates will remain the same with potential for a small increase. There are a lot of factors that go into why they raises rates, and you can find numbers that support either case, so it’s anyone’s guess what might happen. The September market picked up quickly, though there are certainly hot and cold points depending on product type, neighbourhood and price. In some cases I’ve been involved in multiple offer situation ..read more

Happy Lunar New Year East Van! I hope the Year of the Tiger brings great things for you and your family. Boy, did things pick up in January! I expected the market to be busy, but WOW. We are seeing multiple offers on everything, and record breaking prices on a lot of properties. It’s really tough to value properties these days – you can barely use the recent sales in the building as a gauge because the market has increased so quickly, and everything seems to be selling for a much higher price than anticipated. Expect to be very competitive when it comes to your offer and price. And don’t get c ..read more

Happy New Year East Van! I’ll keep this review short since the market will be all about what happens next. Inventory has remained low, though in the grand scheme of things, inventory wasn’t at all time lows this past year despite feeling like it was – it was that was at an all time high. We will need to see a huge influx in inventory to curb the demand out there, and unfortunately I don’t see any inclination that we will see that needed increase in inventory. I have a handful of clients who will be listing their house for sale, but they will be buying as well, so we end up with a zero sum game ..read more

Happy Holidays East Van! As it’s been all year, inventory remains really low, mortgage rates remain really low and Buyer demand remains really high. Given that the holiday season is upon us, inventory levels always drop even further, despite the activity levels remaining high, which is why the sales to active ratios right now are the highest the’ve been since the Spring. Multiple Offers are still common across all products and neighbourhoods, so you have to be willing to compete if you’re interesting in buying. Every now and then a property doesn’t receive any offers because it was priced to ..read more

Hello East Van! I’m sure you’ve heard about it in the news, but inventory is at a historical low right now, while sales activity is above average. This dynamic is contributing to a continuing rise in price, multiple offers and over competitiveness. A lot of people have been asking me – if the market is so good for Sellers, why aren’t they listing? It’s a few factors, but the biggest is that they are struggling to buy their next property, whether that’s because they haven’t been successful in multiple offer situations or potentially that they can’t afford the jump to the next property. The ma ..read more

Hello East Van! I’ve been working to get this update out before the Thanksgiving Long Weekend – I hope you enjoy your time off! The market has picked up since September, but not necessarily in the way I was expecting. Inventory still feels really low right now, which is frustrating for me and some of my Buyers who had hoped that a slow summer would lead to a busy Fall. I had expected to see a bigger increase in inventory this past month but inventory levels have remained low, which means Buyers are still competing on the good or well priced properties. If you’re looking to sell, now is a good ..read more

Hello East Van! I hope everyone enjoys a great Labour Day long weekend. August is typically a fairly slow month in real estate – instead of spending weekend viewing properties most Buyers spend their weekends on the Island, up in Whistler or visiting family. The number of new listings drops significantly as does overall motivation, but it always picks up again after Labour Day. Expect to see a slight increase in new listings each week that will generally last until November. If you’re looking to purchase this Fall, keep your eyes on the market and be ready to compete in multiple offer scenar ..read more

Hello East Van! I’m sure you’ve heard about it in the news, but inventory is at a historical low right now, while sales activity is above average. This dynamic is contributing to a continuing rise in price, multiple offers and over competitiveness. A lot of people have been asking me – if the market is so good for Sellers, why aren’t they listing? It’s a few factors, but the biggest is that they are struggling to buy their next property, whether that’s because they haven’t been successful in multiple offer situations or potentially that they can’t afford the jump to the next property. The ma ..read more

Hello East Van! I’ve been working to get this update out before the Thanksgiving Long Weekend – I hope you enjoy your time off! The market has picked up since September, but not necessarily in the way I was expecting. Inventory still feels really low right now, which is frustrating for me and some of my Buyers who had hoped that a slow summer would lead to a busy Fall. I had expected to see a bigger increase in inventory this past month but inventory levels have remained low, which means Buyers are still competing on the good or well priced properties. If you’re looking to sell, now is a good ..read more

Hello East Van! I hope everyone enjoys a great Labour Day long weekend before. August is typically a fairly slow month in real estate – instead of spending weekend viewing properties most Buyers spend their weekends on the Island, up in Whistler or visiting family. The number of new listings drops significantly as does overall motivation, but it always picks up again after Labour Day. Expect to see a slight increase in new listings each week that will generally last until November. If you’re looking to purchase this Fall, keep your eyes on the market and be ready to compete in multiple offer ..read more