The Holm Report | May 2016

The Holm Report  |  May 2016

REAL ESTATE IN THE VANCOUVER LOWER MAINLAND CONTINUES TO SOAR!


April Real Estate Sales continue to Surge in the Vancouver & Fraser Valley housing market. Residential sales in the Vancouver area are totalled 4,781 homes in April an increase of 14.4% from the recorded home sales of 4,179 recorded in April 2015. The Fraser Valley region recorded a booming sales volume where the increase was 47.8% greater than the sales of April 2015.

The Market still continues to proceed at a rapid pace, that continues to favour Sellers. If listed homes are priced correctly, they continue to receive Multiple offers were numerous Buyers bid on the same property they have been reported to sell well above their listed prices. The market is seeing more homes  listed for sale in recent months; the supply is still chasing the unprecedented surge of demand of properties in the marketplace. There is no "one thing" that can take credit for the hot market conditions. Low interest rates, a strong provincial economy and a low Canadian dollar all contribute to the local & foreign Buyers taking advantage of the Lower Mainland housing market.

Recent Sale Hot Spots with Price Increases from April 2015.

 DETACHED HOMES

 

APARTMENTS

 

South Surrey/White Rock

+ 32%

Vancouver East

+ 26%

Langley

+ 30%

Vancouver West

+ 25%

North Delta

+ 35%

West Vancouver

+ 36%

Tsawwassen

+ 41%

Whistler

+ 28%

West Vancouver

+ 32%

Burnaby East

+ 22%

Richmond

+ 36%

Port Moody

+ 22%

Vancouver

+ 28%

Port Coquitlam

+ 19%

The current market is still considered a "Seller's Market" where the home Buyer demand is high and the Home seller supply is low.

 If you are thinking of Selling it is an ideal time, especially now when the Market continues to be strong. It is also important to always price your home sharply and competitively to obtain its maximum value!

If you require any Real assistance in Selling or Buying please do not hesitate to contact me...

CALL ME I'M HOLM

 

Eric Holm

Eric Holm

Sales Representative
CENTURY 21 Prudential Estates (RMD) Ltd.
Contact Me