Last summer when I was here visiting my friends/clients, the Vancouver market in general and West Van in particular was really popping. It's still the most desireable area from what I'm told, in Vancouver, but West Van housing prices have come down about 12% in the past couple months. Less total number of sales also...
The Altamont area that I am staying in is gorgeous. Lots of approx. 1 acre on hillsides overlooking beautiful fern groves and on down to the water..just supurb. Older homes are being torn down, the lots split and 2 large, new homes being built. Some are built on spec, and just on the neighboring 3 streets alone, I have counted 6 new homes being constructed. So...still alot of activity.
The new thing I've seen as compared to last summer at this time? FOR SALE signs! Wow..the house next door on both sides, and it doesn't seem there is a street in this lovely community that is not peppered with FOR SALE signs. What's going on?
I asked my friends and they feel the market is coming down a bit..it was just too hot here in West Van to sustain. Still nothing like what we experienced because their Banks did not lend to just anyone and they did not have the over-building and price run ups we experienced in the Palm Springs Valley and elsewhere. Still..a noticeable change from last year.
I'll have to continue to keep an eye on Vancouver housing. A very good comp for our Palm Springs Valley because so many people come down to Palm Springs and La Quinta to purchase their winter homes in the sun. I can understand why..the days of rain here are rivaled only by Seattle I think! But..gorgeous and green everywhere due to the water. Perfect contrast to my world in the always warm and dry Palm Springs Valley.
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