Slower, and Uncertain
Posted on Jul 12, 2023
There was a small uptick to 31 sales from 27 in May in the Powell River residential real estate market this past month. The market is generally slower than usual this summer due mainly to the rising interest rates which put a purchase out of reach for some and uncertainty about where prices are going for others. Demand is still strong and we are se...
Hesitancy!
Posted on Mar 13, 2023
February 2023 Update
Waking Up??
Posted on Feb 08, 2023
Jan 2023 Update
We’re in the annual winter ‘bottom out’ for sales in the Powell River residential real estate market with 12 sales in January following 11 in December. It’s pretty normal with only the depth and length of the bottom varying from year to year. This year is lower than recent years but similar to 2019 at 11 and 14. Prices have dropped...
Sloooowwww...
Posted on Feb 03, 2023
It was pretty slow in the Powell River residential real estate market with sales at 11 in December compared with 32 and 28 the last two years. As a seasonal low, it’s not the lowest, but among them. New listings were at 19 which is lower than last year at 25 but reasonably comparable to other Decembers. People have their minds on other things in De...
Putting on the Brakes!
Posted on Feb 03, 2023
Winter doldrums and a slowing market showed in the November stats for the Powell River residential real estate market with 17 sales, down from 30 in October. It’s not a record, but certainly slower than usual for November. At 28 new listings, we’re down from 44 in October but pretty much on par for Novembers in the past several years. Total listing...
Buyers' Market!
Posted on Oct 14, 2022
October ’22 Update
Sales in the Powell River residential real estate market dropped off to 19 in September from a healthy 35 in August. Nineteen is fairly typical for winter months but a bit low for what is usually an upbeat fall market. Interest rate rises and anticipation of them have dampened sales this year. Buyer interest is still there but we...