Vancouver real estate sold prices say a lot about the future of the market. Consistently rated one of the world’s best cities to live in, renowned for innovative programs of sustainability, and awarded the honor of being the tenth cleanest city in the world — Vancouver is an incredible place to call home.
With a booming economic forecast and some of the most beautiful views of both mountain and ocean in North America, it’s no wonder why this coastal city has such a vibrant real estate market.
Even though real estate prices in Vancouver are well above the national average and it is ranked as one of the least affordable cities in the world behind Hong Kong and Sydney, there is a good reason for people to invest in this thriving city. Homes continue to sell and the market continues to expand.
Vancouver real estate sold prices are one of the strongest indicators that this Canadian residential hot spot is not about to become stagnant in growth anytime soon.
The Forecast Is Hot For Vancouver Real Estate
If you have recently been looking for a place to call home in Vancouver, you’ve probably noticed that homes are being snatched up quickly.
Seeing the word ‘pending’ next to a residential listing is happening more frequently, and for anyone that owns real estate in Vancouver, this bodes quite well for investments.
Not only is the market hot but the Vancouver real estate sold prices are very close, if not above, the asking price.
What does this mean?
A real estate investment in the Vancouver housing market is a strong financial decision and is proving to hold value in the current global economy.
Let’s take a look at why these sold prices are so indicative of the current and future strength of the Vancouver housing market.
The Lure of Vancouver Real Estate Sold Prices
Clean Air Is Everywhere
There seem to be very few locations left on the planet that can truly boast of having clean air. Vancouver is one of these places.
Many buyers are looking for locations that are great to raise a family, great to get outdoors and embrace nature, and great to enjoy a social life that isn’t confined to the indoors. If this sounds like your search criteria, then Vancouver can offer all of these opportunities in abundance.
Being surrounded by a clean, breathable environment has placed Vancouver at the top of homebuyers’ lists all across the world and contributes to the constant demand for real estate within Vancouver city limits.
With countless programs and initiatives geared towards maintaining this stellar air quality, the sky is the limit for the future of Vancouver’s real estate market.
Immersed In Innovation
Vancouver has become a focal point for the affluent. Many people flocking to the city are young, tech-savvy entrepreneurs that are lured by the innovative programs and initiatives that are showing up more and more in this new city centered ‘tech hub’.
With a large number of residents hailing from around the world, Vancouver has become one of the biggest breeding grounds for start-up companies and international business ventures. With this infusion of commerce and the need to provide enough real estate for the migrating moguls, Vancouver real estate sold prices are reflecting a growing trend of home demand outpacing supply.
These constant home sales are a large indication that the Vancouver housing market is far from being cool. In fact, in many of the most desirable areas of the city, there are just not enough homes available to meet the growing demand of the Vancouver buyer.
Hollywood Hot Spot
As the city grows its innovative programs and initiatives, Vancouver is winning the attention of many Hollywood location scouts.
Scores of sci-fi movies and TV shows are choosing this coastal Canadian city to become the backdrop for their futuristic story lines. Movies like Elysium and Tomorrowland used Vancouver to transport audiences far into the future and TV shows, like the 90’s cult classic – The X-Files – outfitted the city with tales of the extraterrestrial.
As the hoards of Hollywood move further into the city and utilize the backdrop of Vancouver, more people are rushing to the sets and looking for a way to become a permanent part of the action. With more movies and TV shows continuing to be produced in the city, the Vancouver real estate sold prices are continuing to skyrocket.
Vancouver has become one of the world’s most globally appealing real estate markets.
Low-interest rates, rising immigration, and a large increase of foreign money have fueled Vancouver real estate sold prices for the past decade. The majority of these foreign homebuyers are hailing from the other side of the world and choosing Canadian land over Hong Kong and Sydney to call home.
Chinese investments seem to be spurring the local Vancouver economy and with their approval, potential homebuyers from China have been swarming to the city to purchase first, second, or even third homes within the city limits.
China is not the only country flooding the real estate market of Vancouver. It seems that this Canadian city is having a tough time keeping up with the supply for the constantly increasing demand of foreign buyers.
Tap Into Vancouver’s Hot Housing Market
The city of Vancouver is consistently rated one of the safest, cleanest, and most livable cities on the planet. With ratings like these, there is a small window of opportunity to invest in Vancouver real estate before the housing market is completely saturated.
Homes are so high in demand that supply cannot meet the need. However, with demand this massive for the Vancouver real estate market, it’s no wonder that Vancouver real estate sold prices continue to soar at near or above market value.
If you are lucky enough to find your perfect piece of property within Vancouver’s city limits, don’t let it go.
Tracking a home in this innovative, clean, globally trending market takes the help, guidance, and support of people that intimately know Vancouver. Finding someone that can help close on your perfect piece of Canadian paradise is the best suggestion to ensure you don’t get outbid.
Find the next part of your life in Vancouver.