Is it our imagination or did B.C. make a pact to have early summer holidays this year? Perhaps everyone got out of Dodge because the real estate market was quiet, because inventory was rising at a snail’s pace, because it was sunnier elsewhere or because, with the price of groceries at home, it was cheaper to cruise!
Whatever it was, with the current month’s story of a marginal drop in the interest rate and amazing increases in our inventory over the past month, from Burnaby & New Westminster markets all the way east to Maple Ridge, we can look forward to a serious summer market with holiday makers back home. Most notable in May was a universal serious increase in all types of inventory west to east.
BUYERS – Here it is, your opportunity to actually have more than 2 homes to view!! AND an encouraging interest rate.
SELLERS – if you are nervous about the competition, remember to check in with us regarding your neighbourhood and housing type. There is no blanket scenario – we have the high of a 54% sales ratio average in Port Coquitlam condos & townhomes to a low of a 12% sales ratio average in New Westminster detached category, and everything in between.
LOCATION, LOCATION is still at the heart of decisions along with the price attraction of townhomes and condos. And as we move into summer time, GARDENS, private space and natural settings call out to buyers. So….. detached home sellers, don’t miss out on the sunny season – it is worth the effort. We’re always happy to assist in the preparation and help your goals become reality.
Even though the interest drop appears small, it will help many home owners with a mortgage renewal or an open mortgage, AND could just be enough to help a buyer. So, it’s time to check in with your trusted mortgage broker and check out the potential.
We’re privileged to continue to be your local “boots on the ground” and are happy to talk real estate with you any time – it’s our passion!
GENERATIONS REAL ESTATE Partners –
Michelle Hawthorne, Scott Johnson, Shane Goutsis, Ray Harris and Sheila Francis