The Lenfesty Report - May 2016

(June 04, 2016)

How’s the Market?

Another month, another real estate record!

Across the region we are seeing housing prices rise and at the same time, the number of homes sold setting records. The demand for homes is just not slowing and it’s that demand that is pushing prices upwards. What’s behind it all?

We are experiencing a number of market influences all hitting at the same time – any one of which on its own c... read more.

The Lenfesty Report, January 2016

(January 19, 2016)

How’s the Market?
To no‐one’s surprise, 2015 set records for residential real estate: more sales, fewer listings, higher prices.

As much as the experts urge caution and exhibit concerns over rising prices and affordability, almost all agree that the Greater Vancouver market is among the more stable in the country. The law of supply and demand is on our side, as are interest rates, a cheap Canadian d... read more.

The Lenfesty Report, June 2015

(June 22, 2015)

Friends, Clients, & Neighbours:

How wonderful is this place?

Weather: gorgeous. Scenery: gorgeous. Economy: leading the country. Consumer confidence: high (proven daily by the high demand for residential real estate).

And in spite of the headlines, between a third and a half of all homes purchases are by first-time buyers.

As the demand for single-family detached houses outstrips supply, developers ar... read more.

The Lenfesty Report - May 2015

(May 24, 2015)

Friends, clients & neighbours:

How hot is this market? It’s hot. It’s really hot.

Home sales in Greater Vancouver in April were 29.3% above the 10‐year average for that month.

The sales‐to‐listings ratio, at 33.6% in April, is the highest it’s been since 2007.

REALTORS® across the region and right into the Fraser Valley are regularly reporting multiple‐offer situations.

Benchmark prices for “typical” h... read more.

The Lenfesty Report - March 2015

(March 17, 2015)

Friends, clients & neighbours:
Although most of us don’t like to think of our home as a commodity, as soon as we put it on the market, it becomes one – a product for sale.

Like all products, homes are subject to market forces of supply and demand, and competitive pressures. That’s why the value of your home depends on exactly what other homes are available right now, and what the buyer demand is tod... read more.