Spring Arrives Early and Sales Are Up
Supply and demand are at the center of what is driving the prices up. “It’s an active and competitive marketplace today. Buyers are motivated and homes that are priced competitively are selling at a brisk pace right now,” said Ray Harris, Real Estate Board Greater Vancouver (REBGV) president.
The total number of properties currently listed for sale on the REBGV MLS is 11,898, an 11.3% decline compared to February 2014. Metro Vancouver home sales were up 20.2 % overall in February compared to the 10-year average for the month, according to the REBGV.
North Vancouver’s benchmark price rose 12% in one year from $948,600 to $1,065,400. West Vancouver had a solid 9.9% benchmark increase and Vancouver West shot up 12% from $2,145,200 to $2,4032,900.
Additionally North Vancouver saw a rise of 30% in units sold in February as compared to February, 2014 while West Vancouver saw an incredible jump of 87% units sold as compared to just one year ago. A soaring 96% increase in gross sales for West Vancouver compared to one year ago certainly indicates that prices are heating up faster than previous years.
Enjoy this wonderful March sunshine and whether you are buying or selling a home, please give me a call, I’d love to help.
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MARKET OVERVIEW: Residential Detached
You never get a second chance to make a great first impressionCurb appeal, or the allure of your property from the street is crucial when you are selling a home. Many buyers associate the condition of the exterior and landscape design with the condition of the interior. In fact, studies show curb appeal is so important that if a potential buyer thinks that the exterior is unattractive they won’t even look at the inside of a home. Approximately 50% of home buyers make their decision within seconds of pulling up in front of a house, long before they step inside the front door. Make sure to grab their attention when you have the opportunity. You only have one chance to make that first impression, so make sure it counts.
Below are four key curb appeal elements to strive for when getting ready to sell your home.
Like books, homes are typically judged by their covers. Your home’s exterior should inspire interest and draw potential buyers to take a closer look. Show pride in your home and make sure the first impression your home suggests is appealing and inviting.
The emotional connection one has to a home is that of comfort and safety. Make sure walkways and entrances are properly lit and shadow casting shrubs and dark passageways are eliminated. Don’t cut corners on upkeep. Things like hoses, kid’s toys, trash cans and other obstacles should be out of sight. A secure window screen may not be a selling point, but a less than secure basement door may be a deal breaker.
Clean and tidy. A well-manicured lawn and eye catching landscaping add to a home’s value in the buyer’s mind and often the bottom line. Even if you don’t have the funds to launch any major upgrades, keeping the grass cut, bushes pruned and things looking clean and tidy. Small details go miles toward making a positive impact.
Colour balance, depth and various textures are important elements when creating a strong curb appeal. Compare your property to others in the neighbouring area. Strong curb appeal can set your home apart from others on the market. Strategically highlight the best features of your home and downplay less attractive attributes. Engage interest and enthusiasm curb side and it make a huge difference.