BUYING AND SELLING REAL ESTATE IN KITS
I can’t help but look towards the fall season after experiencing some end of August rain and grey days.
This past summer saw Kitsilano Real Estate continue to be busy through July, but coming to a halt in August. Pent-up demand from the previous winter, along with increasing interest rates, kept Buyer’s interested at the beginning of the summer, though when inventory (i.e. Kitsilano houses and condos for sale) started to drop significantly, so did interest level from Buyers. I saw quite a few Buyers having to compete in Multiple Offer situations over some of the best properties available because everyone wanted the same thing. So for the Buyers who have not been successful in finding the right property, and for everyone else who’ll start looking after they settle into school and work after a summer at the cottage, Kitsilano Real Estate is about to change!
Typically, the Real Estate Market in Vancouver gets busy after Labour Day and doesn’t let up until Christmas. Sellers will finally put their home on the market, and Buyers will revisit the thought of purchasing a new home – there will be more homes on the market, and more competition/interest to buy them.
The uptick in Real Estate doesn’t happen all at once. Certainly, there are Seller’s who have their home ready to be listed in the first week of September, but many home Sellers won’t be prepared to put their home on the market for a few weeks. Expect the first week of October to have a lot of inventory, in everything from Kitsilano Character homes, Kits townhomes, 1 bedroom Kits condos and bigger.
TIPS FOR HOME BUYERS AND HOME SELLERS IN KITSILANO
For Kitsilano Home Buyers: Go into the market with a good idea of what you want – there’s a chance you’ll find many good options to buy. We’ll help narrow down your choices based on the quality of the homes, pricing, and our years of experience. If you see something you like, there’s no better time than now! You might not have the luxury of time thanks to the number of other Buyers also looking for something similar. Similarly, don’t be dismayed by multiple offers on properties you like, those happen, and we’ll deal with them in the best possible way – with your best offer on the property. It’s my job to keep you focused on the end goal.
For Kitsilano Home Sellers: Present your home as best as possible. There will be a lot of competition, and Buyers will be seeing multiple properties on the same day so small details like cleanliness and organization matter. Also, consider every offer that may come in. Some Buyers might come at you with a low offer (as it’s been happening all summer), but we can work with those offers to get them up to a price that works for everyone. If you’re interested in selling, we have a great marketing program to present your house professionally and to give Buyers confidence in your home.
I’m happy to answer any questions you may have about real estate, the buying or selling process and more. I can also get you set up to be emailed new listings through our INSIDER’S EDGE program – this way you’ll see the listings as soon as they come online, and you’ll start to develop a good sense of what you can get given your price range and “must have” features.
Give us a call anytime if you’re interested to find out what your home may be worth in today’s market, or if you want to know how to best prepare your home for sale.
For more information on selling your home in Kitsilano, check out the handy posts and resources below:
- Why Sell With Us?
- Home Seller’s Guide – Kitsilano
- Sell First or Buy First?
- What’s Your Kitsilano Home Worth?
- Online Tools for Home Sellers
- 8 Tips for Staging Your Home for Selling
- Buying a Rental Property in Kits – What’s Involved
- Benefits of Listing with LiveKitsilano.com
- Tips for Kitsilano Home Sellers: Appeal to Buyers
- Legal & Closing Costs for Home Sellers in Kits