Market activity and sales volume have increased a fair bit since my last quarterly update. That's to be expected, the Spring and early Summer months have always been the most active in the Lower Mainland. Older town homes priced under $450K and condos priced under $200K, if they are priced correctly, show well and are in good condition are getting offers within weeks. I'm starting to see 1st time buyers who have been renting and staying on the sidelines the past 2 to 3 years starting to lock in these low interest rates and take advantage of the reduced prices that are out there. I still think the current market in Vancouver and Richmond favors buyers slightly however we are moving into a balanced market and might be close to balanced now in many neighbourhoods.
This entry was posted on July 11th, 2013 by Owen Bigland | Posted in Video Blog