The market is ON FIRE!!!
The real estate market has taken off in some neighbourhoods and it is definitely working for sellers in the detached housing market and buyers in the condo market.
On the North Shore, there seems to also be a significant increase in interest in waterfront properties (which have been pretty slow for over a year) as well as in the West and North Vancouver markets generally.....we have been selling a lot more than usual in West Van particularly.
Last month in Vancouver's west side, there were more houses sold than in any other single month since 1995 (and likely before, we just don't have numbers going back any further). The east side market is also insane. We had an open house on a busy street and over 80GROUPS of people came through. We had 9 offers and the house sold for a CRAZY price at 16% over asking-insane!!!!
We can only hope it lasts...some are predicting that the market will slow down in the Spring because the upcoming March 18th changes to the mortgage rules may be what is pushing people to buy now...will see what happens but the best advice for sellers is to sell now while the selling is good-this is likely to be the best quarter of the year!
If you would like to know more about how this could all affect you, please contact me.
Patricia
(604)376-7653
phoulihan@deepcovehomes.ca
The market is ON FIRE!!!
Blog by Patricia Houlihan - Personal Real Estate Corporation | February 8th, 2011