It's Fall. Is the Market back to business?
September is a time of back to school, routine and business, and a return to an active Real Estate market. This year, the overall market has followed historical trends, with an upswing in Listings and Sales, however not all areas are as active as their norm. Markets have their own personality, and react differently to a variety of influences. There are ongoing pressures, including the impact of mortgage rate forecasts and foreign investor regulations, as well as unexpected stresses, such as the school strike delaying a return to routine that put some Buyers and Sellers on hold.
Market trends are published and discussed, but as President of the Real Estate Board of Greater Vancouver, Ray Harris, reiterates, it is critical to understand the personalities of individual markets.
“Individual trends can vary depending on different factors in different areas, so it’s important to do your homework and work with your Real Estate advisor when you’re looking to determine the market value of a home.”
Read the Market Overview below to gain insight to how North Vancouver, West Vancouver and Vancouver Westside kicked off this Fall.
Remember, that even within these larger market areas, each neighbourhood reacts differently from the overall trends. Curious about how Dundarave is performing, or why there are many new builds in Edgemont? For insight into an area's unique market personality call me, I'd love to help.
Click here to see the Market Stats for September. (Market Stats will open in a new broswer window, right click on the image to enlarge)