Looks like the real estate market is the only thing hot about this summer so far!
Massive 31% increases in sales compared to June last year, at the same time carrying a -17 to -30% decrease in active listings.
Seriously low supply, with a huge increase to demand is keeping us in a Seller's Market.
We're seeing similar conditions to when the market was at peak activity, with multiple offers, accepted offers on the first day on the market, above list price offers, etc.
With all this action, if things keep up at this rate, prices will continue to increase until things balance out.
My best advice to buyers is to be as prepared as possible! Make sure you are pre-qualified with your bank or mortgage broker so you can be ready to write an offer the moment your dream home is listed. If you wait even a day or two it might be gone!
Give me a call at 604-798-3960 if you ever have questions about buying or selling a home!
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.