Now that March is upon us and the Sun is poking out from behind the clouds from time to time more people's thoughts begin to drift to dreams of Real Estate.  Springtime is typically the busy time of year in the market and for a good reason, things actually begin to look nice again!  Nothing helps curb appeal like a blossoming cherry tree or row of blooming daffodils.  For those Albertan buyers the simple lack of snow banks in February is enough to inspire them to buy a house.

 

The most frequently asked question of me at this time of year is "How's the Market going to be this year".  As usual my crystal ball has been on the fritz and the Magic 8 ball continues to mock me with replies of "Ask again Later".  What I am able to do though, is look into the past and use this information to try and paint a picture of the future.  The Real Estate Board of Greater Vancouver provides us with enough statistics to bore even the most interested of economists to death but there are a couple of choice figures that I think are interesting. 

 

The first of these has to do with median sale prices on the coast.  If we take a look at the 12 month period leading up February 2013 and compare it with the previous two years ranging less than $10,000 in the past 3 years. 

 

 

If we continue to see low rates in mortgages, then I expect that this trend will continue this year as well.  Things are taking longer to sell and it's not a lot of fun to be a seller in a time crunch but for the most part prices are stable and many sellers are choosing to wait for the right buyer rather than slashing thier prices.

 

The other statistic that is interesting to look at as we move into the spring is the level of inventory coming on the market.  For the last couple of years February has seen huge surges in listing inventory, evidenced by every other house having a "For Sale" sign in front of it.  This past February has been a bit more subdued:

 

 

Now keep in mind that our total listing count on the Coast is still pretty high, and it's still early in the season but if this trend continues then it could make the market more favourable to sellers as reduced inventory will force buyers to be less choosy about what they want.

 

If you have any questions about the market and how it pertains to your house specifically then please give me a call and I'd be happy to go over the statistics in your neighborhood with you.

 

Allen

Read full post
Categories:   3D rendering and Floor Plans | 473 Elphinstone Avenue, Gibsons, BC | 981 Cheryl Ann Park Road sold | allen | Allen Stevenson | bike to work week | Blanket Drive | Coast Team | Dundarave, West Vancouver Real Estate | ed | Ed Aiken | Family Day Movie | Family Day Sunshine Coast 2016 | Gambier Island, Islands-Van. & Gulf Real Estate | Gambier Island, Sunshine Coast Real Estate | Gibsons & Area, Sunshine Coast Real Estate | Gibsons & Area, Sunshine Coast Real Estate | Gibsons and Sechelt Statistics | Gibsons Elementary | Gibsons Elementary PAC | Gibsons Real Estate | Gibsons, Sechelt & Roberts Creek Real Estate Statistics | Good Dinosaur | Halfmn Bay Secret Cv Redroofs, Sunshine Coast Real Estate | https://www.facebook.com/theCoastTeam/ | Keats Island, Islands-Van. & Gulf Real Estate | Keats Island, Sunshine Coast Real Estate | market activity for Sunshine Coast 2015 | Pender Harbour Egmont, Sunshine Coast Real Estate | Pumpkin Party | Pumpkin party - The Coast Team | Roberts Creek | Roberts Creek, Sunshine Coast Real Estate | s | Sechelt and Gibsons Statistics | Sechelt District, Sunshine Coast Real Estate | sechelt real estate | september stats | Sun | Sunshine Coast | Sunshine Coast balanced market | Sunshine Coast Medallion Club | Sunshine Coast Real Estate April update | sunshine Coast Real Estate February Update | Sunshine Coast Real Estate March Statistics | Sunshine Coast Real Estate Update | Sunshine Coast Top Realtors | the Coast Team | The Coast Team - events | Ucluelet, Ucluelet Real Estate
Blogs
Posts By Date
Categories
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.
Sunshine Coast Real Estate, including Gibsons Real Estate, Sechelt Real Estate, Roberts Creek Real Estate, Langdale Real Estate, Halfmoon Bay Real Estate, Pender Harbour Real Estate ,Madiera Real Estate and Egmont Real Estate.