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GASTOWN LOFT MARKET UPDATE FOR MAY 2014

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 gfeldstein@sothebysrealty.ca

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.