The Current Trends and Activity in East Van Real Estate
All in all, this past October showed a healthy Vancouver Real Estate Market. The number of listings and sales remained fairly consistent over last month, and Buyers and Sellers were successful in their Real Estate goals. Having said that, certain markets showed more activity than others, though that’s a combination of many different factors including mortgage rates, type of inventory and interest level. Having said that East Van Houses and Townhomes continue to be the hottest markets in Vancouver. We’ll discuss each East Vancouver Real Estate market segment in more detail below.
Mortgage rules, including the changes to a 25-year amortization and stricter lending policies have certainly affected the real estate market for first time buyers and those looking to stretch their budget. Quite a few deals have fallen apart due to financing, and we don’t expect much to change in the next little while. The one bright spot is interest rates remain low.
With about 6 weeks left in the 2013 Real Estate Market (everything slows considerably for the holidays), now is the time to get into the market. Though the amount of inventory isn’t as strong as it will be in the New Year, you’ll have less competition over listings and you may find a Seller who’s trying to sell before Christmas, and will accept a lower price to do so. If you’re interested in listing your home, we can have it professionally marketed and listed within days of meeting, with Open Houses over the weekend to get as many prospective Buyers as possible through your doors. If you’re interested in Buying, let us know what you’re searching for and we’ll ensure you know of all possible options on the market.