Contact Kim Cheng

Contact Kim Cheng
Coldwell Banker
Cell: 604-880-8971
Office: 604-437-1123
Coldwell Banker
Westburn Rlty.
5489 Kingsway
Burnaby, BC
V5H 2G1 CA

Market News

Back to Blog

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

 

 

 

 

 

Comments

No comments

Post Your Comment:

*indicates required fields.
Your Name:*
Please note, your email will not be shown publicly
Your Email (will not be published):*
Comment:*
Please type the text as it appears above: