What’s Happening in Kitsilano Real Estate
Happy New Year Everyone! Only two weeks into the year and we’re already in full swing! Our team already has a few accepted offers, increased interest on the listings we put on the market late last year and lots of phone calls from interested Buyers and Sellers. New and previously unsold listings are hitting the market every day and this shouldn’t slow down for the next little while as many people are still settling into a routine after the holidays.
The fall season was busy, especially November, but the holidays came quick and interest slowed considerably in the last few weeks of December. We expect a lot of Buyers who spent their time looking in the fall to be ready to buy in the first few months of the year. Many have already spoken with Mortgage Brokers, and are getting ready to sell the property they currently own.
Our resident Mortgage Broker, Chris Harley, weighed in with his thoughts in an earlier blog post. The short story is he expects the 2014 Mortgage Market to be more stable this year than last, with interest rates remaining low. However, lenders are stepping up their due diligence when it comes to approving mortgages. Take a look at the full blog post: Kitsilano Mortgage Predictions for 2014.
Expect every neighbourhood to see a drop in listings and sales in December. Whether or not prices dropped considerably is an important factor to note, as well as the differences between last year and what to expect in 2014.
Let us know if you’re interested in the Kitsilano Market and we’ll help get you into your next home.