BUYERS REMAIN CAUTIOUS TO BEGIN THE FALL MARKET
(October 2, 2024) www.RealtyLink.org
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Home sales registered on the MLS® in Metro Vancouver declined 3.8 per cent year over year in September, suggesting recent reductions in borrowing costs are having a limited effect in spurring demand so far. Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 1,852 in September 2024, a 3.8 per cent decrease from the 1,926 sales recorded in September 2023. This was 26 per cent below the 10-year seasonal average (2,502). "Real estate watchers have been monitoring the data for signs of renewed strength in demand in response to recent mortgage rate reductions, but the September figures don’t offer the signal that many are watching for,” Andrew Lis, GVR’s director of economics and data analytics said. “Sales continue trending roughly 25 per cent below the ten-year seasonal average in the region, which, believe it or not, is a trend that has been in place for a few years now. With the September data, sales are now tracking slightly below our forecast however, but we remain optimistic sales will still end 2024 higher than 2023."
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#317 – 8620 JONES ROAD, RICHMOND
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 Invest a Few Hours for Future Dividends
Here's your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. If you're worried about time, hire professional cleaners or painters to get your house ready. Remember, prospects would rather see how great your home really looks than hear how great it could look "with a little work."
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