Slow real estate recovery underway?

By
Real Estate Broker/Owner with Sea to Sky Premier Properties (Salt Spring)


Dock


Reports are coming in consistently from all over North America...the entry level residential category of property options is busy.

Sales volume in entry level residential has dramatically improved...locally, by almost 40%. Prices have also been "firming", as inventory thins, and there are suddenly more buyers than listings.

City/primary residence markets report some multiple offer situations with resulting bidding wars. This is a rarer outcome in a secondary home/discretionary area, but there is an increase in numbers of disappointed buyers...there can only be one successful purchaser!

Undeveloped land (for the moment, the buyer is not looking for a holding property or a building project), commercial/business options, & upper tier priced residential choices have not yet found that willing buyer.

There are some reports coming in from U.S. secondary home/resort-based regions, however, alerting us to movement in the luxury property segment...buyers are starting to make low offers and in many cases are achieving their price point. Sales volume is picking up here, too.

Perhaps, then, the luxury priced choices are where entry level properties were back in late Fall/early Spring. Perhaps next will be action in raw land opportunities.

Safe haven seeking...a desire for a physical haven plus a move to secure capital by an investment in a unique & irreplaceable region...strong drivers to action, perhaps.

Certainly, Salt Spring Island and the other Canadian Gulf Islands capture attention with environmental beauty, a yesteryear feel with all amenities available, and a series of strict zoning/bylaws in place to control growth...sounds like an investment recipe to me!

And your thoughts are? Always welcome!

More info? Call me! How may I help you to buy your special Salt Spring Island or Gulf Islands property?

liread33@gmail.com

 

 

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Ambassador
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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

I think I would characterize many areas Li as slow real estate recovery, so I am agreement with your title....

Jul 25, 2012 01:50 PM #1
Rainmaker
677,565
Mary Yonkers
Alan Kells 1-814-881-7548 - Erie, PA
Erie/PA Real Estate Instructor

Li,  'slow and steady' is how you describe some areas and some segments of our business.  I hope that yours experiences an upswing soon.

The photo above should attract buyers by the dozens.  I know that if I lived near Salt Island I would be calling you ASAP.

Jul 25, 2012 04:41 PM #2
Rainmaker
1,144,396
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Hi, Gary...appreciated your comment!

Jul 26, 2012 11:43 AM #3
Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Thanks, Mary...good to hear from you!

Jul 26, 2012 11:44 AM #4
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Rainmaker
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Li Read

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