October 2013 Real Estate Market Update

Even though the sun stayed to play in October this didn’t slow down the Real Estate market in Greater Vancouver.

Home buyer and seller activity continued to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reported that in October residential property sales increased 37.8 per cent compared to October 2012!

Some of the hottest Markets for Sellers in October were:

 

  • Yaletown condos with a 31.03% Sales Ratio
  • Mount Pleasant condos with a 33.8% Sales Ratio
  • North Vancouver Detached with a 30% Sales Ratio

Mortgage Update:

As we near the end of fiscal 2013, timing has rarely been better to access the best mortgage rates. Aggressive fixed and variable offers have recently become available as lenders attempt to secure your business by year end. Whether you are looking to purchase and require a rate hold, or you have an existing mortgage and would like to save on interest, I would definitely recommend speaking to a mortgage professional. 

Current Mortgage Rates:

3 year  2.89%

5 year  3.45%

Variable Prime-.50%

(deeper discounted 'quick close' offers may be available - rates listed are subject to change without notice

For all your Mortgage needs contact Scott Gingles  - Mortgage Broker/Owner - Dominion Lending Centres -The Mortgage Hub - P: 604.999.2864 

For the October 2013 Greater Vancouver Real Estate Stats click here

For all of your Vancouver Real Estate needs contact me today!

Warm Regards,

Morgan DuVernet

604-209-1230

 

Blog Archives

Tags