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Summer 2017 Real Estate Thoughts and Reflections

Blog by Stu Bell | May 31st, 2017

The Vancouver Real Estate Market is picking up again after a long and cold winter. While the snow was good for local mountains and Whistler, it slowed down detached residential sales. The condo market remained hot, particularly pre sales with high end downtown selling for over $2500/sq ft and $1000/ sq ft becoming the new norm across Greater Vancouver. West Van has seen increased condo sales as baby boomers downize and North Van condos have been on fire with average prices up 60% in the last 2 years! Inventory remains to be the key story with very little selection for buyers in search of the perfect place to live.

We now have a united Green NDP Government in power and I feel BC real estate will remain highly desirable. Our population continues to grow, Vancouver has a lovely mild climate, great culture, high ranked schools, and so much outdoor recreation to enjoy. No regulation or increase in taxes can change that. 

I believe the remainder of 2017 is going to be strong, we are excited to see what happens next!

Here is a quote that sums up our current market nicely if you are ready and able:

"Buy Real Estate and Wait, Don't Wait to Buy Real Estate."

Sit back, relax, and enjoy our World Class Vancouver Summer. Thank You for reading.