Summer is here once again on our beautiful West Coast. From exciting outdoor adventures to sunny patios and sizzling backyard barbeques, this month marks a time of relaxation and rejuvenation.
The real estate market is active. Inventory is the highest it has been since the spring of 2019. Last month, there was a 7% increase in properties newly listed for sale on the MLS in Metro Vancouver, according to the Greater Vancouver Realtors’ recently published report. The total number of properties currently listed for sale on the MLS in Metro Vancouver is up 42% compared to June 2023.
The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,207,100. The benchmark price for a detached home is $2,061,000, up 3.7%% from the same time last year. The benchmark price of a townhome is $1,138,100, up 3% from June 2023.
Summer is a great time to sell your home as buyers are out and about exploring our many beautiful neighbourhoods during the warm weather and longer days. If you’re thinking about listing your home this fall, July is an excellent month to contact one of our experienced advisors to help you prepare your home for sale. We’ll help you with pre-listing photos and videos while your gardens and landscaping are at their height.
Curb appeal is at its peak from now through to September. Buyers can see what a property looks like at its full potential, so call now and we can help you get your home ready for listing in the coming weeks ahead. As you head off on your summer travels, you can relax knowing you are ready for the upcoming fall market.
Summer is also an excellent time to contact one of our highly knowledgeable advisors for a complimentary comparative market evaluation of your property, including your rental properties. The rental market is currently very active. You may be surprised to know what your property is worth in today’s market.
While you’re away on summer vacation it’s a good idea to have a property manager take care of your tenants. VIRANI’s experienced property managers from our RENT + MANAGE division will take care of any tenant related issues. Similarly, if your home is vacant, it’s important to have someone checking on it. We will manage your tenants and handle every occupational and operational detail of your property while you relax and enjoy some well-deserved, worry-free vacation time.
Our property managers will also take care of your secondary home so you can take the time to do what is important to you. Whether it’s more carefree vacation time with family and friends or additional time to manage your portfolio, our advisors will make sure everything from building maintenance to monthly rental payments are looked after. Relaxing, restorative summer vacation time is one of the many benefits to working with a property manager. Our goal is to ensure you are fully protected and to maintain your property to keep it at its best value so you will get the best return.
On an additional note, last September, our provincial government established requirements for certain municipalities in British Columbia to build more homes. North Vancouver is more than halfway to its target, according to the province’s summary of the six-month reports. Our province reached record levels of housing starts in 2023 and is on pace to meet or exceed that level in 2024, said B.C.’s housing minister in a recent statement. More homes are coming available with these new housing targets, offering B.C. communities even more excellent housing options.
We’re excited about the new development coming soon to Burrard and Davie. Monogram, a 47-storey tower in downtown Vancouver’s West End, will feature ground floor retail space, office space, childcare facility and an arts and culture hub. Register here at Monogramliving.ca for more information and to be first for the one-, two- and three-bedroom homes available soon in this remarkable new addition to Vancouver’s vibrant downtown community.
Metro Vancouver’s real estate market is busy. Summer is a great time to sell and prepare your home for sale in the fall. Interest rates are coming back down with the Bank of Canada’s recent rate cut. Now is an ideal time to contact one of our advisors to help you with all your individual real estate needs. Inventory is high and there are many outstanding opportunities available.
I hope you have a wonderful start to your summer filled with many adventures and travels with family and friends.
July 2024 Founder’s Message
Summer is here once again on our beautiful West Coast. From exciting outdoor adventures to sunny patios and sizzling backyard barbeques, this month marks a time of relaxation and rejuvenation.
The real estate market is active. Inventory is the highest it has been since the spring of 2019. Last month, there was a 7% increase in properties newly listed for sale on the MLS in Metro Vancouver, according to the Greater Vancouver Realtors’ recently published report. The total number of properties currently listed for sale on the MLS in Metro Vancouver is up 42% compared to June 2023.
The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,207,100. The benchmark price for a detached home is $2,061,000, up 3.7%% from the same time last year. The benchmark price of a townhome is $1,138,100, up 3% from June 2023.
Summer is a great time to sell your home as buyers are out and about exploring our many beautiful neighbourhoods during the warm weather and longer days. If you’re thinking about listing your home this fall, July is an excellent month to contact one of our experienced advisors to help you prepare your home for sale. We’ll help you with pre-listing photos and videos while your gardens and landscaping are at their height.
Curb appeal is at its peak from now through to September. Buyers can see what a property looks like at its full potential, so call now and we can help you get your home ready for listing in the coming weeks ahead. As you head off on your summer travels, you can relax knowing you are ready for the upcoming fall market.
Summer is also an excellent time to contact one of our highly knowledgeable advisors for a complimentary comparative market evaluation of your property, including your rental properties. The rental market is currently very active. You may be surprised to know what your property is worth in today’s market.
While you’re away on summer vacation it’s a good idea to have a property manager take care of your tenants. VIRANI’s experienced property managers from our RENT + MANAGE division will take care of any tenant related issues. Similarly, if your home is vacant, it’s important to have someone checking on it. We will manage your tenants and handle every occupational and operational detail of your property while you relax and enjoy some well-deserved, worry-free vacation time.
Our property managers will also take care of your secondary home so you can take the time to do what is important to you. Whether it’s more carefree vacation time with family and friends or additional time to manage your portfolio, our advisors will make sure everything from building maintenance to monthly rental payments are looked after. Relaxing, restorative summer vacation time is one of the many benefits to working with a property manager. Our goal is to ensure you are fully protected and to maintain your property to keep it at its best value so you will get the best return.
On an additional note, last September, our provincial government established requirements for certain municipalities in British Columbia to build more homes. North Vancouver is more than halfway to its target, according to the province’s summary of the six-month reports. Our province reached record levels of housing starts in 2023 and is on pace to meet or exceed that level in 2024, said B.C.’s housing minister in a recent statement. More homes are coming available with these new housing targets, offering B.C. communities even more excellent housing options.
We’re excited about the new development coming soon to Burrard and Davie. Monogram, a 47-storey tower in downtown Vancouver’s West End, will feature ground floor retail space, office space, childcare facility and an arts and culture hub. Register here at Monogramliving.ca for more information and to be first for the one-, two- and three-bedroom homes available soon in this remarkable new addition to Vancouver’s vibrant downtown community.
Metro Vancouver’s real estate market is busy. Summer is a great time to sell and prepare your home for sale in the fall. Interest rates are coming back down with the Bank of Canada’s recent rate cut. Now is an ideal time to contact one of our advisors to help you with all your individual real estate needs. Inventory is high and there are many outstanding opportunities available.
I hope you have a wonderful start to your summer filled with many adventures and travels with family and friends.