TGIF - OCTOBER REAL ESTATE UPDATE

Friday, October 4, 2013

     While much of the rest of the world gears down for a recreational weekend, we in the real estate business ramp up for a full on weekend of showings!  And, compared to this time last year, it's busy!
 
     On reviewing the September stats, our Greater Vancouver Real Estate Board president, Sandra Wyant pointed out:- "While sales were up considerably from last year, it's important to note that September 2012 sales were among the lowest we've seen in nearly three decades.  Home sale and listing activity this September were in line with the 10 year average for the month."  For current sellers, the important statistic was that new listings for the month were down by 3.5 per cent compared to the same 10 year average, so...less competition than we would anticipate for Fall.  Cautious optimism is our mantra.  The rise in interest rates has attacked affordability for first time  buyers, which in turn has created a slow down in sales of entry level housing.  Pricing still remains key - buyers are savvy and spot the well priced property immediately - having recently resulted in some multiple offer situations. We are happy to interpret the stats for you and give you the local experience. We have you covered!
 
     Ours is a generous, caring community - witness last Saturday's fund raising gala when $168,000 was raised to purchase much needed ultrasound equipment for our own Eagleridge Hospital. Congrats all round!
 
     Work or play - have a great weekend!!  See you around the Cities. 
 
- Sheila

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