Forget about location, location, location—though let’s face it, if there ever was a premium location, it’s Vancouver—it’s all about supply, supply, supply. As the major theme coming out of this summer’s real estate activity, supply is 25% lower than 2014 whereas sales have increased by 25% – 30% in the same period. Therefore, an average of 19% price increase has resulted, coupled with record low interest rates to further boost the supply factor. Why are sales so high? We’re back to location, location, location: Vancouver is consistently being voted amongst the top 5 in the world. We have a strong economy, employment is high, and there’s a limited land area; making what’s there, even more desirable. The only course of action is to build upwards and densify. Condo sales and prices have climbed significantly since the beginning of 2015. Inventory is being increased to keep up and new condo projects are selling steadily. What does that mean for you? That it’s not only a good time to sell, but to buy as well. Based on current trends we believe prices will hold steady and only continue to increase for the remainder of 2015. Team Kerr is proud to have been part of several condo, duplex, and townhouse sales that went for over asking this year. It’s all about supply. We value all of our clients, and always appreciate your referrals! (Vancouver photo: Popejon2)
You can use this dashboard to help your search for a new property.
The save searches tab will show you all the searches you have saved. A saved search will let you come back to view new property listings with your given search parameters. For example if you are looking for a 2 bedroom apartment in Burnaby you can save that search and quickly check for new listings or even get us to send you an email when new properties are listed.
The saved listings tab will show all your saved listings. If you are interested in a few properties and want to save them to come back to later this gives you quick access to that.