Housing Market Outlook 2018

THIS PAST YEAR SAW THE SINGLE-FAMILY DETACHED HOME AND CONDO MARKETS DIVERGE ON DISTINCTLY DIFFERENT PATHS IN CANADA’S TWO HIGHEST-PRICED REAL ESTATE MARKETS, GREATER VANCOUVER AND THE GREATER TORONTO AREA, AS REVEALED IN THE 2018 HOUSING MARKET OUTLOOK.

The trend is expected to continue into 2018 as a mix of relative affordability for condo units and price appreciation for detached homes in recent years, combined with government policy changes in both markets, has helped push an influx of buyers toward condo ownership.

In Greater Vancouver, demand for condos continues to outpace supply, resulting in the average price of a condo rising an estimated 16 per cent year-over-year, from $553,604 in 2016 to $643,778 in 2017. The GTA’s condo market also saw price appreciation of 22 per cent in 2017, as the average sale price for a condo rose to an estimated $523,437, up from $429,241 in 2016. As condo prices rose, sales for single-family detached homes declined 25 per cent in Greater Vancouver and 22 per cent in the GTA year-over-year between January and the end of October 2017.

The RE/MAX 2018 average residential sale price expectation for Canada is an increase of 2.5 per cent as the desire for home ownership remains strong, particularly among Canadian millennials.

Click Here to download the entire report!

 

Open House in Royal Bay, Victoria

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We invite everyone to visit our open house at 3648 Propeller Place on 14 Apr 2018, 02:00 PM

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Open House in Jubilee, Victoria

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We invite everyone to visit our open house at 1749 Newton St on 12 Apr 2018, 06:00 AM

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5 Tips for Selling Your Home Quickly

 

There are several reasons why you may need to sell your home quickly. For example, a job change may require a speedy relocation to another city, or you may have purchased another property and don’t want to be stuck too long with two mortgages.

Here are some tips that can help get the sold sign on your front lawn sooner:

• Be realistic with price. If you set the listing price higher than the current market value of your home, then you’re not going to get many, if any, viewers. You want the list price to be attractive, which means listing at the current market value.

• Get things fixed. You probably don’t have time for a major renovation. So just make sure everything in your home is in good working order. Deal with any obvious maintenance issues, such as a leaking faucet or a gate hanging precariously on one hinge.

• Ensure your home shows well, inside and outside. Eliminate clutter. Trim hedges. Make sure every room has adequate lighting. Imagine that a special guest is visiting your home, and clean up and prepare accordingly.

• Be flexible with viewing times. You want as many potential buyers as possible to see your home. So, don’t restrict viewing times to just Saturdays. Make sure your home is as “available” as possible for showings. This may cause you and your family some inconvenience, but the reward will be selling your property sooner.

• Work with a real estate agent like me who understands the area and the local market well. I will be able to recommend a variety of strategies that will help sell your home faster, and for a good price.

Of course, there’s no way to guarantee that you’ll sell your home within the time frame you want. But these tips will certainly increase the chances that you will.

If you would like to know what your home is worth click here or give me a call 250-744-0775.

20 2319 Chilco Rd in View Royal, Victoria is Sold!

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The 3 story at 20 2319 Chilco Rd has been sold.

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Make Your House “Picture Perfect” For Buyers

 

When you walk into a nice hotel room, what do you usually notice first? It may be the large, often beautiful picture hanging above the bed. You’ll probably find a smaller, equally attractive picture hanging in the bathroom. Often there will be at least two more adorning other walls.

That’s no accident. Hotels know that pictures are the simplest, surest way to make a good-looking room look great.

The same thing holds true when preparing your house for sale. According to home staging experts, hanging a few quality pictures can transform the look of just about any room – even a washroom!

Chances are, you already have pictures hanging in your home. Do you need more? That depends. If you have a room that seems dull, and there is open and empty wall space, try adding a picture. You don’t have to buy one or hang one – just have someone hold up an existing picture. If the look of the room improves, consider adding a picture in that spot.

Pictures don’t have to be expensive; they just need to be of good quality. Many retailers sell good-looking, nicely-framed pictures at affordable prices.

If you are thinking of selling your home the Briar Hill Groups works with a stager to make sure your home looks perfect before going on the market. If you are thinking selling give me a call or email, 250-744-0775 BriarHillGroup@gmail.com

 

Open House in Fairway, Langford on Saturday

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We invite everyone to visit our open house at 403-608 Fairway Avenue on October 22 from 14:00 PM to 16:00 PM.

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