Happy October everyone! With the cool breeze in the air, fall has definitely arrived. It’s always an interesting time in real estate because it can often affect how you feel when you view potential homes. For those searching for a new condo or house in Kitsilano, you’ll be able to see how the space feels on a grey day (which is often in Vancouver), and you’ll see if the space loses any of it’s privacy when the trees lose their leaves. Outdoor space becomes slightly less important, and warm interior spaces can take centre stage. For Sellers, be sure your home looks inviting and warm, and when the weather gets a little colder, have the fireplace on!
I feel like I’ve been saying this for a few months now, but inventory just hasn’t been as good as we hoped for this Fall Real Estate Market. There aren’t as many homes to choose from, which means there are still quite a few Buyers waiting for a great home to be listed. Sellers who price their property well are seeing success, thanks to the Buyers who recognize the value. If you’ve been thinking about selling, now can be a great time – we still have two months of Real Estate activity before things slow down for Christmas.
For every market, take a look at the difference between September 2013 and September 2014 – there is quite a significant decrease in inventory with an increase in prices. Kitsilano is a small market, so a few higher than normal sales (or lower than normal) can really affect the averages.
As always, give us a call if you’re interested in talking real estate, whether to buy or to sell.