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Market Update

July 2011

With the summer market in full swing, it appears we are still waiting for the summer weather to catch up. As expected, it is much more of the same this month compared to last. Sales are down across the board, with the exception of the North Vancouver attached market which appears to be bucking the trend. Expect that to correct next month. Average sale prices and active listings are fluctuating across the board, but prices in most markets slipped slightly without enough dip to cause alarm. Everything we are seeing is typical for the seasonal nature of the Vancouver market and I expect to see a continuation of these trends for the next two months before an upturn in September.

Looking at the bigger picture, predicting the local market is beginning to require more and more knowledge of international financial markets. Using local trends to predict the market has quickly become a fool's game and many more factors must be taken in to account. We will have to keep an eye on foreign markets in the coming months, as they will likely play a larger role in the Vancouver market moving forward than rising mortgage rates will.

Any questions, ask away. And enjoy the summer!

Rob

Unique Homes Blog

Plastolux has gathered 20 modern kitchens from their past blog post.They posed an interesting question, "Let me ask you this, what one element of a kitchen from the flooring to the cabinets or even the appliances can make or break a modern kitchen for you?" - What do you think?

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MARKET STATISTICS

Featured Listings

2855 W 49th Ave

  • FOR SALE Offered at $2,499,900
  • 4 Bedrooms + Den, 3 Bathroom
  • 3,501 sq ft on 80 X 136 ft lot
  • Newly Renovated
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888 E 30th Ave

  • SOLD! Offered at $1,188,800
  • 6 Bedrooms, 5 Bathroom
  • 2952 sq ft
  • Fully Renovated
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4773 Ross

  • SOLD! Offered at $899,000
  • 4 BedroomS, 3 Bathrooms
  • 2025 sq ft
  • Mortgage Helper
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