June's Beauty
The lovely month of June is here… the month of roses… blooming in gardens, parks and roadsides. Elegant flowers, wonderful fragrances… worth seeking out at this time of year, the beginning of summer.
Orchard flowers have spread into the meadows to allow budding fruit to grow. On the Pacific Northwest coast, May through September is a key time of year, with late spring, summer and early fall. June is the start of summer vacations, weddings, graduations and family events. Nature speaks of beauty. Observing it is very important.
Real Estate Market
The real estate market in early June may be quieter, reflecting a pause in family events. By the third week of the month, the summer market begins. Inventory remains low and buyers are again willing to make offers despite the impact of interest rates. The pause in uncertainty seen for much of 2022 and 2023 will continue into 2024. The buyer profile remains primarily Vancouver/Lower Mainland buyers.
Sales Trends
While there are higher priced properties for sale, the main selling prices are still below 1.3. Townhouses under $1 million are selling actively. It is rare to find a readily available single family home priced under $1 million.
Market Trends
Change remains the watchword of our times. Real estate laws continue to change. The impact of AI remains a factor. It is an election year in BC (voting in October) bringing inter-party debate to the fore. Global uncertainty continues. Currency concerns and the desire to move from urban to rural areas continue to be the primary motivators of buyer behavior. Most owners don't want to be sellers.
Current Listings and Sales
As of the beginning of June, there are approximately 115 residential listings on the market. Some of these have been previously listed and are back on the market in anticipation of summer demand. Most of the properties under $1 million are townhouses (strata zoning).
As of the beginning of June, there are about 44 land listings on the market, with no distinction made between plots, acreage, views, waterfront and rural options.
As of the beginning of June, there have been about 66 sales so far.
43 of these sales were under 1 million. 17 of these sales were between 1 million and 2 million. 4 of these sales were between 2 million and 3 million. 2 were between 3 million and 4 million, and 1 was 9.9 million.
Want more information on “Properties for Sale” and “Sold Properties”? Contact me for more information on property types and initial prices.
June Activities
In the meantime, June is wonderful. The Ganges art gallery is showcasing new works for the season and studio tours are underway. There is so much to enjoy: tastings at wineries and cider factories, craft breweries, live music venues to keep us entertained, spa treatments to get us excited about the new season, seasonal menus at great restaurants and coffee shops, arts and crafts to start at Mahon Hall, beachcombing and picnicking, watching the sunset on the longest day of the year, sailing races, whale watching, hiking/walking trails and much more.
June… a month that reminds us to be mindful of and truly enjoy the gifts of nature. Yes, there are many concerns with the world's problems. Turn off the phone and take five minutes (thanks Dave Brubeck). June is the time to sit back, reflect, and observe what June has to offer. It's wonderful. Summer is here…with a smile!