House prices lead Vancouver market higher!

Suburbs a practical option for many house buyers"

Vancouver Real Estate continues to be the preferred investment. Even with rising prices and multiple bids on many properties, there's no shortage of local and international buyers.

Many suburbs including; Port Moody, New Westminster, POCO and Pitt Meadows have just recently surged into the 'Million Dollar Club'. Clean, well-priced houses in these areas are being snapped-up within days and there is an unrelenting upward pressure on prices.

On a side note, I always take note of SOLD signs for houses located on busy streets as it's a good bench mark for a strong/rising market. As long as these properties sell reasonably fast you can count on a strong market and rising prices in the near term.

However, one concern is the continuing price spread between condos and houses. The price increase in houses is far outpacing condos (17% vs. 6% respectively), making the outer suburbs the only practical option for many 'move-up' house buyers.

The Vancouver economy is slated to have Canada's best economic growth next year. Interest rates are likely to remain low and there's no end in sight to the influx of international buyers looking for a safe haven for investment and family.

Sell Smart. Buy Wise.

Wayne

"when you see a fork in the road, take it" (Yogi Berra 1925-2015)




Market update below. Contact me for your 'SNAP STATS' Report.
(highlighting your specific area).

"FULL MARKET UPDATE"- (REBGV)
Sales/ Listings Statistics and Graphs for all areas.

All information is approximate

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