Multiple Offers Abound in Vancouver Real Estate
by Maggie Chandler on May 26, 2009
in Uncategorized
I’ve written four offers in the last four days and three of them were multiple offer situations.
My listing at 1199 Marinaside Crescent in Yaletown got three offers as soon as it was published on MLS. I was a buyer agent for a waterview condo at Sapphire in Coal Harbour. We were close to reaching an agreement when another offer came in and got accepted. My buyer selected not to increase his offer. Currently there are no other listings on the market like this one. The third offer was also in Coal Harbour and had no other competing offers. The fourth offer was a house in McKenzie Heights which had 5 offers and the winner wrote a non subject offer.
It’s a move up market. I’ve had more showings on my luxury listings this week than I’ve had all year. I’ll be do a post on luxury listings.
In my opinion we’re back to a 2006 market , more buyers than sellers.
On Vancouver’s west side in May 2008, there were 840 houses listed on MLS, today there are 593. In May 2008 there were 2,443 townhomes/condos/duplexes, today there are 1,854.
MLS Attached Sales for May 2009 are 305. Of these 253 are condos, and 52 are townhomes/duplexes. In May 2008 there were 378 attached sales on MLS, of these 329 were condos. In May 2009 there have been 121 houses sold versus 106 in May’08.
How long before we satisfy the backlog of buyers? And multiple offers result in higher prices. When will the sellers who weren’t successful in Fall of 2008 revisit the market?
If you’re thinking of selling your Vancouver real estate, please call me!
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WELCOME! And thanks for checking out my site, and wanting to know a little bit about me.
I LOVE what I do, and that’s helping home buyers and home sellers in the waterfront condo neighbourhoods of Vancouver and I’ve been doing just that for nearly 30 years, so I’ve really gotten to know this market like the back of my hand. In fact I’ve seen Vancouver’s neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the West End and now the Olympic Village being built and I have an in depth knowledge of these neighbourhoods. My interest in Vancouver’s history combines with my interest in the changes and growth of its waterfront neighbourhoods. If you see me walking on the seawall, playing tennis or boating, say hello!
The city of Vancouver and its neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the Olympic Village and the West End have been put on the world map with its dynamic growth, international immigration, hosting the 2010 Winter Olympics, amazing world class restaurants, geographical beauty and quality of life. Consistently voted the Best City in the World to live, you can find great shopping, sports and entertainment in Vancouver.
I assist first time and trade up home buyers, investors and vacation home buyers, as well as first time and trade up home sellers, investors and vacation home sellers with the purchase and sale of houses, townhouses and condominiums.
I come armed with stats and graphs and an extensive knowledge of market activity, with attention to detail that will give you piece of mind that I’m working in your best interest, I am a hard working, detail oriented, diligent individual with strong interpersonal skills, patience and a high level of integrity . My goal is to make the home buying and the home selling a fun trip with low stress and I use today’s technology to make every real estate transaction as smooth as possible by clearly answering your questions, providing expertise and offering a savvy opinion.
Providing trustworthy real estate services in the Vancouver area for over 30 years
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