LolaOduwole - Your Coast to Coast Specialist - Serving British Columbia and Ontario

HELPING YOU IS WHAT I DO... B.C 604.809.6317 / ONT: 289.439.5472

Lola has merged her skills as an accomplished entrepreneur and Board Governance to her real estate business.

Lola brings a wealth of experience from her diverse roles in the real estate /Business industry, voluntary and charity sectors as well as non-governmental organizations.

Lola currently holds Ontario and British Columbia Real Estate Broker Licenses and is a member of the Royal La Page Corporate Brokerages.

Elevated Inventory Leads to Lower Sale Prices
In July, the Greater Vancouver housing market offered buyers a well-supplied market, as
new listings outpaced sales growth, providing more choices and slightly easing price
pressures. Total inventory rose to 13,724, the highest level since September 2020.

Despite another interest rate decrease in July, the influx of buyers has yet to materialize.
The month saw a total of 2,326 sales, marking a 3% decrease. Elevated inventory levels
have impacted home sale prices, resulting in an aggregate average sale price of
$1,289,272, a 4% monthly loss.
Interest Rates and the Housing Market
The Bank of Canada's recent rate cuts have positively impacted buyer confidence in the
Greater Vancouver real estate market. As reported by The Globe and Mail, "The widely
anticipated move brings the bank’s policy rate to 4.5 per cent from 4.75 per cent. It’s the
second step in a long-awaited easing cycle that is slowly normalizing borrowing and debt
servicing costs for Canadians.” “While it remains to be seen whether softening prices and
improved borrowing costs will entice buyers to purchase as we head into the fall market,
it’s worth noting that it can take a few months for improvements to borrowing costs to
materialize into higher transaction levels, said Andrew Lis, GVR director of economics and
data analytics.

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GREATER VANCOUVER MARKET SPEEDO INFOGRAPHIC - OCTOBER 2024

Oct 09, 2024

GREATER VANCOUVER MARKET UPDATE VIDEO - SEPTEMBER 2024

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GREATER VANCOUVER MARKET SPEEDO INFOGRAPHIC - SEPTEMBER 2024

Sep 10, 2024

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Foreign Buyers Ban - What it means n 2024

Posted on Sep 05, 2024

On January 1, 2023, Canada implemented the Prohibition on the Purchase of Residential Property by Non-Canadians Act, commonly referred to as the Foreign Buyers Ban. This legislation is designed to limit the purchase of residential properties by non-Canadian buyers and was to be in place for two years, until 2025. It has now been extended to 2027.De...

5 tips to boost your home’s curb appeal

Posted on Aug 15, 2024

Curb appeal encompasses the attractiveness, charm, and overall visual impact of a property’s exterior. It can include landscaping, architectural features, cleanliness, maintenance, and exterior design elements, all of which contribute to the initial impression potential buyers or visitors have of the home.

A change of the season often brings a chang...

Canada’s housing market hits a summer slowdown in July

Posted on Aug 15, 2024

After showing signs of life in June following the Bank of Canada’s first interest rate cut in more than four years, Canada’s housing market took a bit of a breather last month, according to the latest housing report from the Canadian Real Estate Association (CREA). In July 2024, home sales across Canadian MLS® Systems decreased 0.7% compared to the...