MORTGAGE Blog & ARTICLES
Vancouver Buyers Are Selecting Village Over City Living
Young families and single buyers are now searching towards the outskirt of Vancouver for lasting residence. Sales in real estate board are showing an improvement in condo home sales in New Westminster, Burnaby and in the west portion of Vancouver. Condominiums are just more accessible for specific types of budget and it seems that such budgets are rapidly becoming the determining factor in Vancouver real estate.
The amounts of coming out of the MLS as well as the companies on lower Mainland Real Estate Companies look slightly dull in city sales of isolated homes. These numbers show that realtors saw more than 2, 641 home sales in Vancouver during the previous months. Even if this might sound good to someone else, the Vancouver Real Estate Board call out that these figures are down to 17 % from the past ten year trend of home sales on previous months.
Condo sales are the facts which real estate agents are looking for at the present time, for they conclude where the most funds is being taken and where they must concentrate more on the selling points. As stated before, New Westminster, Burnaby and western part of Vancouver are seeing a great shift in the sales of home. In previous months the sales of condos outpaced isolated homes in the city and thereby generated issue from a lot of real estate agents.
However, townhouses are the main concern. According to the latest figures released for the previous months, Metro Vancouver saw a significant decline in townhouse sales of 3 percent from 2013 with just 432 properties selling during that period. As luck would have it, the prices of townhouses have really increased by almost 1.5 percent that can perhaps account for the transfer in purchases.
Contrasting the property purchases made in Vancouver is the amount of isolated townhouses and homes bought in the valley parts. Figures released shows that MLS records cleared more than 1, 250 sales that denotes an augment in more than 12 percent from similar month and the city a year ago. Of the whole 1,200 sales more than 58 % of them were isolated home sales. That fraction augmented from the previous year by three percent itself.
It looks as though there is some connection between the costs of detached homes, condos as well as townhouses which is making this irregularity for real estate in Vancouver. The cost of detached or isolated homes has kept high even increasing to a certain degree, while the cost of both condos and townhouses has down by half a fraction point. No matter what the case is, the facts always remain the same, a lot of home sales are happening on the outskirt of Vancouver than the center of the city. Only the time will tell how long this trend will last.
The housing market in Vancouver is re-shaping. It is very important for you to get the newest information on real estate trend by means of subscribing to real estate agent website.
- Bank of Canada
- Commercial Mortgages
- Company Updates
- Financial Planning
- First Time Home Buyers
- Home Ownership
- Housing Market
- Market Watch
- Mortgage Education
- Mortgage Products
- Mortgage Rates
- New Mortgage Broker Updates
- Notable News
- Personal Finance
- Property Investments
- Real Estate
- Refinance & Renewal Mortgages