Burnaby and SFU real estate market shifting as interest rates rise
Posted on Jun 16, 2022
The SFU housing market saw home sales bounce back in may over April. Three bedroom homes remain limited while the greatest activity is with two bedroom condos.
Meanwhile the Burnaby detached market softened dramatically with homes now selling under asking price.
Watch the 60 second video for the complete SFU and Burnaby area real estate market upda...
Meanwhile the Burnaby detached market softened dramatically with homes now selling under asking price.
Watch the 60 second video for the complete SFU and Burnaby area real estate market upda...
Downtown market softens in May as inventory continues to rise
Posted on Jun 10, 2022
Even though homes are selling on average 3% above list price last month the downtown condo market is shifting towards more balanced conditions. Inventory rose for the 5th month in a row, and sales and prices decreased month to month.
Watch the video for the complete 60 second update!
Downtown still in a Seller's market but sales softening appear to mark shift
Posted on May 12, 2022
Vancouver's downtown condo and townhouse inventory and prices are up but the market may be cooling as sales dropped month to month. Coal Harbour sales activity was the weakest of the neighbourhoods with Downtown seeing the most demand. The greatest demand was for homes between $600-$700K.
Watch the 60 second video for the complete downtown Vancouver...
Watch the 60 second video for the complete downtown Vancouver...
SFU real estate market begins to shift towards more balanced conditions
Posted on May 12, 2022
The SFU market is shifting towards more balanced conditions as home inventory increases month to month and sales cool. Townhouses prices are rising while condo prices are softening for most price points. Meanwhile the Burnaby detached market remains very active with homes selling well over asking price in less than a week.
Watch the 60 second video...
Watch the 60 second video...
SFU homes selling in a week as buyer demand remains high
Posted on Mar 07, 2022
It's a Seller's market across the GVA and Burnaby SFU is no exception. Even though home inventory is edging up buyers are snapping up properties typically in a week after being listed and usually in competition with subject free offers with well over asking sale prices.
Watch the 60 second video for the complete SFU Burnaby Mountain update.
Ready to...
The cost of borrowing money just got higher as BOC raises key interest rate
Posted on Mar 02, 2022
Overheated real estate markets, stronger than expected economic growth in last quarter, and persistent inflation issues are behind the decision. Though only a slight increase and rates are still historically extremely low this is the first step of what many believe to be several more rate increases this year.