Hello - Welcome Back
The July real estate market in Vancouver was a very healthy one and had the skeptics shelving predictions made in April. At our waterfront office - it was pretty much a constant parade of interested visitors and locals alike - stopping in to chat on what - beyond the press and statistics - is really happening in our area. On that front - we had 5 purchases in under 30 days - based solely on walk-in traffic. Long hours kept our doors open sun rise to sunset but the results were positive.
July reported a solid return on the numbers in comparison to the last couple of years for the same period.
The downtown core had 73 sales for the month - the West End reported 39 - Yaletown had 64 homes change hands and Coal Harbour came in with 31 sales for July. The most active price ranges were under the $600,000 level - with many of these in the ever popular West End.
Last week the major lenders bumped up the interest rates - so a few buyers who have been on the sidelines - are now locking in and strarting to search for properties. Especially those that were "just" qualifying for their expected purchase needs.
Plenty of selection in the downtown areas and take a look east of False Creek and the Main Street area near Skytrain. Lots of new product coming to market next spring. Still a great time to be looking for a home on most fronts. Sellers and buyers alike are taking their time - I don't see us returning to any kind of frenzied activity for a very long time.
Drop by our waterfront office under the Escala - on the seawall - just beside the Coal Harbour Community Center for a chat about your needs. This was the exact case in the last 30 days with two new buyers we met and two successful purchases of fantastic homes at Two Harbour Green. Waterfront is still a strong investment strategy in the Coal Harbour area - with the last develpement now complete at Three Harbour Green. Simply put - we have run out of room !!