Mark Lin Real Estate

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September Stats as we heading into the winter season!
10/16/2024

September Stats as we heading into the winter season!

It's been some time since our last update! Let's dive into the April 2024 market stats:Current chatter about lower inter...
05/07/2024

It's been some time since our last update! Let's dive into the April 2024 market stats:

Current chatter about lower interest rates on the horizon seems to be making waves in the market. We're seeing a noticeable uptick in buyers looking to seal the deal before summer rolls in. Listing prices are on the rise, too. Check out the figures below for a clearer picture of what's happening in the market right now!

Sept 2023 Stats:We are beginning to see some cities turning into buyer's markets as the rate stays high. Inventory incr...
10/16/2023

Sept 2023 Stats:

We are beginning to see some cities turning into buyer's markets as the rate stays high. Inventory increase with listing price decrease in cities like Mission seem to have boosted the sales up. Continuing to observe the impact on the rate to the market and act when you feel comfortable is the way to go about real estate at the moment.

July 2023 Stats:Growing demand and low inventory drives sales number up by nearly 30% y/y. Even though the borrowing c...
08/17/2023

July 2023 Stats:

Growing demand and low inventory drives sales number up by nearly 30% y/y. Even though the borrowing cost/rate is higher (mortgage rate is the highest we have seen in 10 years), buyer's demand for the market is growing stronger. What will happen when the interest rate starts to go low?

June 2023 stats.Most cities ended the month with decreased listing price and increased sales number. The continue risin...
07/15/2023

June 2023 stats.

Most cities ended the month with decreased listing price and increased sales number. The continue rising interest rate is making it difficult for buyers to bid for higher priced houses. Sellers lower the price to accommodate to the situation and to secure a deal. Population growth maintains housing demand. Bank of Canada went for another 0.25% rate raise and will likely to get another raise before the rate settles.

May Stats is here.The recent rate hike from bank of Canada suggesting there is a possibility of additional rate hikes by...
06/19/2023

May Stats is here.

The recent rate hike from bank of Canada suggesting there is a possibility of additional rate hikes by the end of 2023. Price is likely to continue to lower until the rate pivots. If you are looking to buy a house, it does not hurt to talk to your mortgage specialist to secure the current rate for three months!

UBC
06/15/2023

UBC

April 2023 Stats!Overall still a slow market but we can see more people are interesting to go out there to open houses a...
05/16/2023

April 2023 Stats!

Overall still a slow market but we can see more people are interesting to go out there to open houses and discover opportunities to jump on. I am expecting the rate raise to stop and pivot soon which will then create more buyers to make the market more interesting.

March 2023 Stats:Prices kept on dropping as interest rate remains high. I am expecting the same in the real estate mark...
04/17/2023

March 2023 Stats:
Prices kept on dropping as interest rate remains high. I am expecting the same in the real estate market until we see a glimpse of the rate drops. If you are a buyer, this is the time you ask for a discount with your offer especially if you are looking to buy a condo. Some cities have increased listings by 100% (condos) while prices continued to drop. If you are a seller, make sure you do a full comparison of the listings near your location so you get a precise selling price that makes sense. Or you can just call me and let me handle it for you. 😀

February 2023 stats! As interest rate continues to stay high, the increasing numbers of defaults on mortgages pushed do...
03/17/2023

February 2023 stats! As interest rate continues to stay high, the increasing numbers of defaults on mortgages pushed down the prices even further. We must pay close attention to what happened to the banks in the US and if it will reflect in the Canadian market. I believe that before the interest rate lowers we will see this down trend continue.

January 2023 stats. Prices and sales continue to drop in most cities as I anticipated. In areas where pricing is down ...
02/14/2023

January 2023 stats. Prices and sales continue to drop in most cities as I anticipated. In areas where pricing is down to a more acceptable range to the consumers, we are starting to see multiple offers again. Market is still adjusting to the new laws plus the rate raise. I see the possibility for price to move down further.

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Royal Pacific Tricities 1024 Ridgeway Avenue #203
Coquitlam, BC
V3J1S5

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