July's Presidents Report
Our Canucks were busy this June trying to bring the Stanley Cup to Vancouver but try as they might - in the end they just could not handle the bigger, stronger, bad boys from bean-town, those mighty Boston Bruins. With that loss and the cool wet weather we experienced all month things were looking dismal to say the least so I am happy to tell you that that there is some good news to report as sales jumped past last year’s level for the first time this year - Hooray!
With a total of 230 homes sold in June [positive growth for the first time this year] and up significantly from the 198 sold in May and surpassing last June’s 224 sales, things may finally be moving forward in a positive way for our industry.
While we still have lots of inventory [1800+] which leans towards a buyer's market, we did see fewer new listings hit the market this June vs. June 2010, another positive.
With a large number of our sales [72 vs. 56 units in June 2010] of homes from $350,000 to $499,999, we are seeing some of our higher valued inventory move through the market. This is another encouraging sign that the consumer is beginning to show signs of confidence in the Real Estate Market.
Keep slugging away gang, things are looking brighter in more ways than one. Enjoy your summer and take time to savour the sunshine while we have it.
Ciao for now…Mark