An upturn in property sales in Canada may have had its origins in Vancouver. The Globe and Mail reported that total June sales of various types of properties in the Greater Vancouver Area were up nearly 12% compared to the same period last year. According to the Real Estate Board of Greater Vancouver (REBGV), Greater Victoria and Calgary property sales for June also rose by 6.6% and 5.5% respectively.
The development comes on the tail end of four months of good sales. Vancouver is an attractive option for new residents because of internationally-recognized factors such as lush natural surroundings, a solid healthcare system, business opportunities, and world-class educational institutions. If you’re interested in getting a piece of this real estate action, an established Vancouver real estate market realtor like Jean Séguin can help you make the right investment decisions.
Every realtor will have information on the best properties available through the Multiple Listing Service (MLS), which features single-family houses, apartments, condos, and townhouses offered by real estate brokers or agents. Every property listed in the MLS comes with pictures, and pertinent details such as total area, number of bedrooms, and included amenities. As testimony to the gradual revival of Vancouver’s housing market, MLS sales figures for June in Greater Vancouver stood at 2,642 properties sold as opposed to the 2,362 sales in June of the previous year.
The high sales were connected to slight declines in index prices for properties in certain areas, despite recent increases in mortgage rates. The REBGV noted, for example, that properties in Fraser Valley saw their benchmark index prices drop 0.6% to $428,400, while the benchmark $2.07-million price for a detached house in western Vancouver last month went down by 6.1%. With the guidance of a knowledgeable realtor, you can make a good purchase at a favorable time and at a favorable price.
The sales-to-active listings ratio for Greater Vancouver stood at 15.3% – slightly above the buyers’ market threshold of 15%, which REBGV president Sandra Wyant said benefits both buyers and sellers as they can quickly strike a deal. Note that a balanced market is characterized by a ratio that ranges from 15 to 20 percent. Considering the current status of Greater Vancouver’s property market, the guidance and services offered by a specialist of prime Vancouver, BC real estate proves to be valuable.
It is important to find a quality property in the ‘Couv or sell it with the help of a skilled realtor like Jean Séguin. When properties in the area are rapidly changing hands, and at affordable prices, it may be a good time to invest in a place you can call your own.
