HOW WAS THE MARKET IN MAY '14?
I'll keep this one short and sweet and quote a few words from the Real Estate Board of Greater Vancouver's President; "Our MLS® statistics tell us that there’s more home buyer demand today than at any point over the last three years,” Ray Harris, REBGV president said. “With sales surpassing the 3,000 mark in May and our sales-to-active-listing ratio exceeding 20 per cent, this is the most active marketplace we’ve seen since the spring of 2011.”
The market has been very consistent this year. The total number of listings are down but sales are up which is giving us a nice, balanced market (Seller's market in some neighbourhoods and price points).
There were 7 lofts sold last month ranging in price from $267,000 to $635,000. Gastown's lofts are experiencing a Seller's Market in May with a sales ratio of 1 in 3 lofts selling.
If you're considering making a move this is a great time to take advantage of these favourable market conditions.
As for Buyers, you don't need to worry, there are always new listings coming on the market. What you do need to do is get a very good understanding of the market and values so you when a property does come on the market that meets your needs you've already done your homework and can act swiftly. Please contact me if you'd like more information about buying a property and how to get prepared.
If you're curious about the value of your property go to Eastvanpropertyvalues.com
If you don't want to bother with forms you can call me at 604.782.7545 or email me at firstname.lastname@example.org