Market Update:
July saw the first change in the overnight interest rate since July 2015. The overnight rate increased to 0.75% from 0.5%. The next scheduled interest rate announcement date is September 6, 2017 but the experts widely expect no change, particularly since the US Federal Reserve Board did not increase its rates. Of course, it depends on the economic situation at the time but the panic to enter the market before interest rates increase, seems to have eased off. Houses remain relatively flat. The most active market continues to be the one bedroom condominium market, although investor activity seems to have decreased at this end as well.
Looking back at July, the numbers were:
|
|
2 Bedroom |
1 Bedroom |
||||||
|
|
#Active |
/sq.ft. |
#Sold |
/sq.ft. |
#Active |
/sq.ft. |
#Sold |
/sq.ft. |
|
Woodwards |
3 |
$1,128 |
1 |
$1,124 |
3 |
$1,009 |
1 |
$987 |
|
Downtown |
259 |
$1,450 |
79 |
$1,193 |
165 |
$1,136 |
105 |
$1,063 |
|
Coal Harbour |
42 |
$1,904 |
5 |
$1,372 |
14 |
$1,227 |
8 |
$1,235 |
As always I would be happy to discuss your long and short term real estate strategies with you or how the market affects your personal property. Call or email me today!
Regards,
Kim
E&OE
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.
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