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Deep Cove Real Estate slowing?


Blog by Patricia Houlihan - Personal Real Estate Corporation | June 17th, 2008


Deep Cove is paradise and its market has been very hot for quite some time but for anyone working in this industry, it has been clear for a while that the real estate frenzy has subsided in most neighbourhoods...although we are still getting multiple offers on the lower end properties in the hot neighbourhoods.  Even on properties which just a few months ago would have sold in an instant, buyers are taking their time deciding whether to buy or not.  You will have noticed more for sale signs in the Cove recently.  But all is not lost yet-on one of our recent sales on Cove Cliff, the house had been on the market for months and then suddenly we had two offers on it! 

Now more than ever it is critical to price sharply-some overpriced listings aren't getting a single call. 

Greater Vancouver sales volume has dropped by 31 percent!
I am currently trying to sell a view house in the Okanagan-and of course the front page of the Sun today talks about how the hardest hit areas are the Kootenays and the Okanagan.....and apparently these were the hottest markets in the province last year....hmmmm...guess I should have sold it last year!