Do you wonder when the best time is to list your home for sale?
There are advantages and disadvantages to every season.
Here are some typical trailts of a SUMMER BUYER
Summer buyers Are often families with children. They’d like to make the move before school starts.
Curb-side appeal can be used here to entice buyers. Everyone loves a luscious, fresh cut lawn with vibrant flowers surrounding the landscape. Capitalize on this and get your home as curbside ready as you can.
Also, I see quite a few job transfer individuals during this time. Many people relocate during summer months.
Typically, people are away on holiday weekends so expect less traffic through you home during those peak holiday times. But buyers who venture out ow are serious buyers needing to find a home within a specific time frame.
With current market shifts, we are happy to discuss market statistics in person any time. We keep informed about local conditions and trends and cpnstantly network with many agents in this area to keep on top of what is happening day to day and week to week -- not just what's posted in the national news.
We would love to talk to you about how best to market your home in summer!
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Vancouver, BC – June 13, 2022.
The British Columbia Real Estate Association (BCREA) reports that a total of 8,214 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May 2022, a decrease of 35.1 per cent from May 2021. The average MLS® residential price in BC was $1 million, a 9.3 per cent increase from $915,392 recorded in May 2021. Total sales dollar volume was $8.2 billion, a 29.1 per cent decline from the same time last year.
“Canadian mortgage rates continue to climb,” said BCREA Chief Economist Brendon Ogmundson. “The average 5-year fixed mortgage rate reached 4.49 per cent in June. That is the highest mortgage rates have been since 2009.”
Provincial active listings were 4.4 per cent higher than this time last year, the first year-over-year increase in active listings since 2019. However, active listings still remain below what is typical for a balanced market, though current market conditions have a high degree of variation across regions and product types.
Year-to-date, BC residential sales dollar volume was down 14.5 per cent to $46.7 billion, compared with the same period in 2021. Residential unit sales were down 26.3 per cent to 43,921 units, while the average MLS® residential price was up 16 per cent to $1.06 million.
Additional economics information is available here on BCREA's website.