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GASTOWN LOFT MARKET UPDATE FOR DECEMBER 2013

HOW WAS THE MARKET IN DECEMBER '13

4 lofts traded hands in December while 6 lofts remained on the market through the end of the year.  The lofts that sold spent, on average, 90 days on the market.  2 of those lofts were in the new development INGastown so it's typical to see some pre-sale properties stay on the market longer than the resale properties.  There was a loft at the Greenshields Building that took quite awhile to sell and one at Koret Lofts that sold in just over 1 month.  Koret had a lot of action this year.  I personally sold 3 lofts in the building.  I think that building is getting better and better.

 

2013 was a pretty good year in Gastown and in the Real Estate Market in general.  Looking at Gastown specifically the total number of sales went up 12.5% when compared to 2012.  The average days on the market went up but we don't need to sweat that because as mentioned above Gastown saw a couple of new developments who's properties landed on the mls so that can skew the numbers a touch.  Lastly, the average sale price also went up by 6.8%.

 

2012 was nothing to brag about.  When looking at what happened in 2013 I see an even better 2014!

 

If you or anyone you know is thinking about buying or selling please call me in for an interview.

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