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Market Highlights July 2019

Home buyer demand picked up across Metro Vancouver* last month, making July, a traditionally quieter month in real estate, the second highest selling month so far this year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,557 in July 2019, a 23.5 per cent increase from the 2,070 sales recorded in July 2018, and a 23.1 per cent increase from the 2,077 homes sold in June 2019.

Last month’s sales were 7.8 per cent below the 10-year July sales average.

New Listing

601 3055 Cambie St.

 $1,060,000

Beautiful 3 bedroom home featuring more than 1500 square feet on one-level with a covered patio and treed outlook. This rare three bedroom, two bathroom home is ideal for a growing family or anyone downsizing from a house. Full sized living room & dining area for your large furniture leading to a good flow of space for entertaining. Kitchen has a lovely window, brand new countertops and appliances. This suite is private, spacious and bright. Pacifica offers hotel-like amenities: pool, hot tub, sauna, steam and weight rooms. Walking distance to the Park Theatre, Vij’s, Shopper’s Drug Mart, JJ Bean and all shopping. Easy access to the RAV line, main transit and mins from downtown. A pleasure to show.

Finding a Great Home in a Hurry

Finding a Great Home in a Hurry?

Do you have only a few weeks to search for your next dream home? Don’t panic. There are things you can do to find the perfect (or, at least, almost perfect) property — without getting too stressed out!

Consider these tips: • Pre-arrange your mortgage. You want to be able to make a good offer on a home right away, without worrying about financing.

So, talk to your mortgage advisor or lender about getting a mortgage preapproval. Sellers will take your offer more seriously if you have financing in hand.

• Decide what you want. What type of home are you looking for? What type of neighbourhood do you want to live in? The narrower your focus, the less time you’ll waste looking at properties that don’t fit your needs.

Continue reading

July 2019 Vancouver Real Estate Update

ousing supply up, home sales and prices down in June
With home buyer demand below long-term historical averages in June, the supply of homes for sale continued to accumulate in Metro Vancouver.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,077 in June 2019, a 14.4 per cent decrease from the 2,425 sales recorded in June 2018 and a 21.3 per cent decrease from the 2,638 homes sold in May 2019.

Last month’s sales were 34.7 per cent below the 10-year June sales average. This is the lowest total for the month since 2000.

“We’re continuing to see an expectation gap between home buyers and sellers in Metro Vancouver,” said Ashley Smith, REBGV president. “Sellers are often trying to get yesterday’s values for their homes while buyers are taking a cautious, wait-and-see approach.” Continue reading

Thinking of buying into a new development? Read this first

Should you Buy a Resale or a New-Build?

If you’re thinking about buying a new home, you may be considering purchasing in a new development.

How does that compare to purchasing a resale property?

Buying a newly-built home has some advantages. Depending on the development, you may have leeway in the style of the home and the lot you choose. Also, when the home is built, you’ll be moving into a place where everything is brand new! Continue reading

Ask these 5 questions if you’re struggling to decide whether or not to sell:

Stay or Move? 5 Questions that Help you Decide

It can be tough to make the decision to sell. In fact, for many homeowners, it’s overwhelming. If you’re considering making a move and struggling with the decision, here are five helpful questions to ask yourselves:

1. “What are our practical reasons for selling?”

This question refers to what you’ll get by moving to a new home. The reasons could include a bigger backyard, shorter commute to work, an extra bedroom, a more desirable neighbourhood, etc.

2. “What are our emotional reasons for selling?” Continue reading