The season "was" just around the corner but thanks to our friends up north and a little redirection of some Arctic outflow air (shouldn't that be going to Winnipeg ?) - we are enduring just a taste of true winter in Canada. Of course this has everyone out and about bundled up and ask any retailer - timing could not be better. With the holiday season fast approaching and storefronts pulling out seasonal decorations - what better time to start to think about all December has and will offer. You can already feel a shopping frenzy lying just under the surface.
The real estate market has been steady but cautious in many respects. With the amount of inventory to choose from and interest rates holding firm [next Bank of Canada meeting is early December] most sellers are staying the course but will look at decent offers. I don't even like to use the term "low-ball" but we are still seeing these types of offers testing the resolve and motivation of home owners. Many buyers I am working with have adopted a stance on purchasing based on current inventory and selection, interest rates holding, forecasts for 2011 and a spring market just around the corner. Thankfully with our environment on the West Coast the spring transition relating to real estate begins very early - with most decisions to list a home being made by the end of January and arriving on the market early in February.
What will happen in December - only the Bank of Canada knows at this point. News out today states our inflationary rate over the last few months has hit a 2 year high. Both food and the price of fuel have contributed to this increase. Funny how we have almost forgotten about or never hear anything on the price of fuel anymore - there was a time when we crossed over the $1.15 a liter mark it was a front page news item. Today in downtown Vancouver a liter is going for about $1.19 a pop - and not a peep.
In the West End area - there are currently 200 listings on the MLS for attached homes. The most by category are 2 bedroom homes (at 94 properties) and there are 63 listings in the $300k-500,000.00 range. Still lots of variety and selection - from the Shangri La to the beach avenue area and west of Denman at Stanley Park. Diversity is the West End's middle name - not only in arts and culture but in real estate as well. There are 44 listings over $1 million dollars and 23 listings under $300,000.00 as we speak.
If you are interested in hearing more - contact me anytime. I am now working with clients who are contemplating a purchase or sale next spring. There is never a limit on how much time or research that can go into a home purchase - the most significant financial undertaking most people will make in their lives. As I mentioned in a previous post - The Perfect Home - we churned through properties for 7 months. Not a record - but close. The end result - very happy clients who will welcome their first born next April into their new home - and one satisfied realtor.
The photo above was taken on November 22.