Vancouver Real Estate Update - Friday April 13, 2018
There was a recent news Headline that received a lot of attention - but also confused a number of people.
It read "Buyer Demand Is Down, Sales Are Down, Prices Are UP"
How can there be less demand and sales going down, without the prices doing the same?
The answer, and what the media failed to disclose, is that while the volume of sales is in fact lower, the demand is still far exceeding the amount of inventory available. Back in December we were seeing as many as 15 to 20 offers on 1 bedroom condos. Now in April, demand is down resulting in only 10 to 12 offers on these homes. There are still 10+ interested buyers for every quality home that hits the market! (Area and home type / price specific of course.) When you have that many people interested in a limited product, prices will continue to rise.
The Spring Market is known as one of the best times to sell your home for the maximum price. If you've been thinking about making this move:
Looking to Buy? Here are the Brand New Listings in your area:
- New Yaletown Listings This Week
- New Downtown Listings This Week
- New Coal Harbour Listings This Week
- New West End Listings This Week
- New Kitsilano Listings This Week
- New False Creek Listings This Week
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CREST BY ADERA
Lower Lonsdale, North Vancouver
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