Merry Christmas, Seasons Greetings and Happy Holidays to our Generations clients and friends.
Being creative is such a large part of Christmas gift giving. However, being creative is not such a grand idea when reviewing our local sales statistics for November! We love the detailed local breakdown that SnapStats gives us, along with our “boots on the ground” experience, helping us get a clear picture.
We have to remember when we hear the news, or review the Real Estate Board of Greater Vancouver’s analysis, that they are reviewing the entire Lower Mainland – which can be confusing. The words “balanced market” keep popping up based on the supposition of a great increase in inventory making for much greater buyer choice and difficult seller negotiations.
Not the case moving into the new year in our local markets where, after reviewing 14 distinct markets in all categories of housing, we see almost uniform decreasing inventories with just a couple holding steady. By the very nature of the season, December will be quieter, so there will not be a surge of either inventory or purchasing. However, if you have any buyers viewing you home, know that they are serious!
Second guessing is not our mandate, but good to know for prospective sellers and buyers that the inventory is not burgeoning so far and January could prove to be a busier month than anticipated. If we stick to past traditions, our inventory will suddenly grow along with the daffodils! Patience is a virtue on both sides of the transaction!
Sales of townhomes and apartments were still the strongest categories in November with Port Coquitlam leading the way with 4.8 in 10 homes selling, followed by Port Moody selling 3.9 in 10 homes. Pitt Meadows had the greatest all round success with 3.3 in 10 attached homes selling and 2 in 10 detached homes selling.
Currently there are some surprising social media ads running. A fact that you will know if you are a Generations client, past or present, is that our buyers and sellers are top priority for us with their needs and wants carefully considered and leading the way. This is not a newly mandated process for us – it has been in place these past 40+ years. We love our job, the people who come with it and feel privileged to be a part of one of the most momentous purchases that people make. Know that this newsletter has been written by a real person – no adoption of A.I. in our office!
Here’s to a magical Christmas in every way and a New Year full of good health, promise and opporunity. With very best wishes to you and your family. See you out shopping!
From your Generations Real Estate Partners – Michelle Hawthorne, Scott Johnson, Shane Goutsis, Ray Harris and Sheila Francis.