I have been on the phone today booking showings for a buyer client. Of the nine calls that I made, three of the properties had an accepted offer in place. This tells me that September will be a strong month for real estate sales. Is the news that we are hearing about the Vancouver Real Estate market true? Is this a bubble?
I have always thought that the Vancouver real estate market will stay strong. We have shortage of land and people continue to immigrate to this city. Land costs continue to rise and construction and material costs remain stable. Part of what makes Vancouver special is also what makes real estate expensive. We are surrounded by water, mountain and the Argicultural Land Reserve (ALR). There is no where to build but vertically, unless you want to move out to the suburbs.