My Take on Vancouver Real Estate Market
by Maggie Chandler on May 21, 2009
in Uncategorized
I’ve always believed the best way to keep your pulse on the Vancouver real estate market is to be working with Buyer Clients.
When setting up a buyer tour, it becomes quickly evident what’s selling and what’s not and one is able to establish current market value by viewing comparable properties for sale. In addition, posting my neighbourhood stats every month on my blog definitely keeps me on the cutting edge. I also determine what’s currently happening in the market by the number of leads I receive from potential buyers and sellers. Right now the buyer leads way exceed the sellers. Also, I follow a Google graph that shows the number of people searching for real estate.
It is my opinion that we are in a seller’s market for lower end properties – condos under $500,000, west side houses under $1.2M. When phoning to set up buyer’s tours almost everything is sold or has an accepted offer!
The ones left to show are available because they are rented and have limited access or they are overpriced or they have a severe shortcoming and finally – i’m seeing more of this right now – they had an accepted offer as soon as the listing was up on MLS and the offer collapsed . in some cases it is due to financing or perhaps the buyer changed their mind.
In addition, when I track the sale price for my buyer client, I find many multiple offers. Or when I try to make an appointment I am told “we have 12 offers being presented at …”
Compared to last Fall, the sales have quadrupled in some neighbourhoods and the number of listings dropped substantially.
What was a bottom end market has now moved up to around the $1M mark and now I’m noticing the $1-2.5M properties are starting to sell. I’ll be doing a post shortly on the higher priced properties that are starting to sell.
There is definitely a backlog of buyers who didn’t buy last year and new buyers have been created because of the low interest rates and lower prices. Will this result in higher prices? And if so, what percentage?
Search for listings on this siteKeep up to date with Vancouver’s changing market, subscribe via RSS or emailBuying or selling Vancouver real estate? contact an experienced realtor, Maggie, marketing homes since 1981
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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
has written 1928 articles.
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