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Market Update for February 2104

Strategize or Bust!

I have been in a multiple offer situation with 4 different buyers this year and thankfully all my clients were able to secure the property they wanted.  I wrote offers with conditions, without conditions, over asking and under asking.  Each property and situation was different, so were the circumstances and so were the emotions.  The only thing that was the same was that we were able to form the perfect strategy and position my clients in the best place possible to have a successful offer presentation.  

 

Buyers, find a good realtor to help you with your purchase!  They will save you money, headaches and heartaches.  I would be more than happy to interview for the job.

 

Here's a snapshot of the market:

 

The number of listings currently on the market is 9.3% lower than that of February 2013 and 6.4% higher than last month.   Considering there are 13,000+ homes for sale in Greater Vancouver 9% and 6% is not a big difference.

 

The big difference comes with the number of sales that have been occurring.  For detached properties, attached properties and apartment properties sales grew 35 - 47% over February of last year.

 

What does that mean?  It means that with little fluctuation in the amount of properties being listed for sale and a huge jump in the amount of properties sold we have a very good Real Estate market.  There is buyer demand and a lot of sellers are being presented with multiple offers.

 

Is now the right time for you?  That depends; the answer is different for everyone.  If you'd like a clearer picture on how the market relates to your personal situation call me at 604.782.7545 or send an email to gefeldstein@sothebysrealty.ca.

 



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