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Low interest rates & price reductions boost sales in Vancouver
July 14, 2009 by admin · View Comments
It looks like buyers and investors are getting back in to the real estate game. Though prices are still down 8.2% since last June, sales have jumped a whopping 75%, placing it at levels of where the market was in 2003-2007. In June 2005 we actually had a record breaking month for real estate sales…this month we almost tied that record!
With the 2010 Olympics on it’s way, Vancouver has been a watched-over target area for investors and buyers considering a relocation or looking for a second home. With the historically low interest rates and dropped prices, it seems that what didn’t make sense before on a financial basis is finally making sense for a whole new audience; especially first time home buyers, as they don’t have another property they need to sell to make a purchase.
One of my listings in the Vancouver East neighborhood just sold under 20 days, and for over $20,000 above asking price. If you’re a homeowner thinking of selling, shoot me an email! I’d love to have an opportunity to have a listing presentation with you.
