Mar 03, 2010 - Rossetti Real Estate Review | February 2010
Rossetti Real Estate Review

What a special two weeks we have had. Our visitors saw what a wonderful city Vancouver is!

We have been asked what effect the Olympics have had on our market. Although the Games have offered great exposure, it will be sometime before we see their long-term benefits.

As expected, inventory levels remained low, with fewer sellers listing their homes in the month of February. Buyers remained active, with total sales rising over January.

As the Paralympics end and we get closer to spring look for more homes to be listed. Changes in the mortgage rules by the Federal Government and the addition of the HST should keep first time buyers and builders active through much of the spring, continuing to drive the market. As these changes are implemented, and as interested rates are expected to rise in the second half of the year they will help moderate our market.

If you are thinking of making a move, either now or in the coming months, start planning now. Our team would be pleased to offer suggestions for preparing your home for the market and offer tips on renovations that offer the best return at resale.

Market Highlights:

February 2010 vs. February 2009

● Detached Sales . . . . . . up 69%   (78 units sold up from 46)

● Townhome Sales . . . . .up 20%   (30 units sold up from 25)

● Apartment Sales . . . . . up 18%   (65 units sold up from 55)

Please let us know if we can be of any assistance for your real estate needs.

Sincerely,

Tony Rossetti

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