Real Estate Update Following August 2018

Real Estate Update Following August 2018

Sales remain below the 10 year average, in fact the Real Estate Board of Greater Vancouver (REBGV) reports last month’s activity was 25.2% below that mean.

However new listings also declined last month on a year to year comparison with 2017 – down 8.6%.

As the graphs show some prices have softened slightly. Our experience in the field is that these prices have decreased more noticeably for higher end properties while those in the affordable range have held steadier.

Here is a link to my complete set of charts and graphs.

Here is a link to the REBGV media release.

We are not generally seeing a rush to ‘dump’ real estate; in fact the opposite seems to be the case with property owners for the most part happy to hold onto their portfolio with an eye to future market recovery.

Properties are selling regularly, just not as rapidly as they have in recent years.

Motivated sellers drive this type of market – following their sale they then have cash in hand to make a strong ensuing move.

Here are some of the properties I have sold over the past few months:

  • Starter homes in Ladner for $870,000 and $901,200
  • A new house in Ladner for $1.61m
  • A 1.8 acre rural property for $1.8m
  • A Tsawwassen waterfront home for 2.6m
  • A keynote Ladner property I listed sold quickly for $650,000 over assessed value!

My strategy is to look for opportunities to add value to my clients’ real estate experiences rather than bemoaning a slower market!

A steady market like we are now experiencing is a good time to make a transitional move – the lack of urgency allows you to move methodically and with good purpose and results.

Call me to bring professional and experienced ‘added value’ to your real estate needs.

call/text:  604.603.8538

or email:  dbauck@deanbauck.com

Dean Bauck PREC - Company