Robert Valeriote 604.880.1300

Newsletter E-market update

September 07, 2019

September 2019 Newsletter

                    The market correction is over…or is it?

 I get asked almost every day if our local real estate market is turning around. Headlines in the newspaper, on the radio and on television are making statements such as “monthly sales are up”, “benchmark prices rise”, “more buyers entering the market” or “correction is officially over”. So, who are you to trust when looking for real estate advice? Are you more likely to trust the real estate professional, the economist, your TV personality, or maybe the person who owns several properties? Is asking any realtor about the market conditions like asking a computer salesperson if you need a new computer? If we start talking about how any times the economists have gotten things wrong, we would be talking for days. Does a senior economist with a major bank know more about the future of real estate than a local real estate agent? Does the fact the person wears a nice suit and tie make them anymore knowledgeable? The people you think should know might not know. Perhaps the best idea is to listen to all of them and never trust any one source. I strongly recommend that a local experienced realtor will give you the most up-to- date information on current market conditions in your neighborhood. Oh, and don’t forget to call me if you want my opinion. And no offense to computer salespeople.

The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $993,300. This represents an 8.3% decrease over August 2018. August sales of detached homes increased 24.5% over August 2018 while the benchmark price decreased 9.8% during that same time. August condo sales increased 8.9% over August 2018 while the benchmark price decreased 7.4%. August townhome sales saw a 21.4% increase from August 2018 and a 7.8% drop in price.

I offer:

  • Over 20 years of experience in your market area.
  • Professional and honest expertise.
  • A full service and extensive marketing plan to maximize the sale price of your home.

Robert Valeriote
when it is time to sell…call me first!!!

Robert Valeriote, Vancouver Condo

View the current Vancouver Condo Real Estate Listings

 

This communication is not intended to cause or induce a breach of any existing agency agreement.


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