Temperature is Falling but Market is Hot.
As the leaves are falling and the rivers are rising, we may think that this is the time of year Real Estate markets cool down. In some areas we have seen low numbers of listed units, but the remodel, construction and planning for future development is clearly on the rise.
The price for a detached home continues to escalate and is expected to rise 1.2% to $821,000 in 2015 and climb another 1.7% by 2016. There seems to be ebbs and flows in the market each month but the overall growth of the market in Vancouver and on the North Shore is on a solid and steady climb.
The Globe and Mail reported on how Vancouver housing prices are heading to a record high for both resale and new construction in the coming year. Strong employment and population growth are on an upturn and that lends itself to a strong housing market.
As we bundle up and get ready for what is sure to be a cold and wet winter, we anticipate that the Real Estate market will continue its steady growth, gearing us up for a hot spring market. The Market Overview below is a more detailed understanding on just how North Vancouver, West Vancouver and Vancouver Westside have been doing.
Thinking of a new house to better match your lifestyle for the new year? Not sure what area is right for your family? Call me, I'd love to help.
October 2014 Hot Properties - Sold in under 5 Days.
Detached Dwellings in North Vancouver, West Vancouver, Vancouver Westside which sold in under 5 days.