Vancouver Real Estate 2010 Olympic Market Update
I can't believe we're already into February, I see cherry blossoms around Kitsilano and tulips blooming in our gardens. Although we really didn't have much of a winter yet, it feels like spring is just around the corner. Mirroring the weather has been our metro Vancouver real estate market which has been jumping since the first day of 2010. We've seen lots of new product come on the Vancouver real estate market and likewise, any of the good products getting snatched up in multiple offer bids. What's most unusual is we're seeing these attached and detached homes right up to the 3 million dollar mark selling above the list price, a sure sign of confidence in the market at all levels. I believe this fast start to the year is attributed to the fact that the Olympics are just around the corner and most recognize that February will be pretty much a write off for buying and selling real estate in metro Vancouver.
So, what's in store for the rest of the year?
Expect to see a very active Vancouver real estate market after the Olympics with lots of new listings coming online and many hungry buyers. The Feds said they are sticking to their game plan and will hold low interest rates for an 'extended period', expect this to be mid to late summer. With the 5 year rate at around 3.79% and variable around 2%, people will definitely be buying however I'm counting on the increased inventory to keep price increases at a modest level; say 5-7% in 2010.
For more information in the Vancouver Real Estate Market contact:
Peter Raab
Vancouver Real Estate Agent
Labels: Kitsilano real estate market update, Vancouver Real Estate 2010 Olympic Market Update, Vancouver real estate agents, vancouver real estate expert, Vancouver Real estate market update
