2015 Spring Market

  • The spring market is here and what the papers are reporting is true! It’s really busy and properties are flying off the shelves. The strongest real estate market is the Vancouver Eastside detached market where prices have risen 12.2% in the last year. If we compare January 2014 with January 2015, gross sales are up 37% but active listings are down 29%. Not much supply and a lot of demand: this translates into a total seller’s market with upwards pressure on prices. A great time to be a Seller! But it’s not just the Eastside. The market in general is busy in Vancouver and Downtown is also doing really well – the busiest we’ve seen it in years. Prices for condos have only increased around 7% in the past 5 years but the key is that now the properties are selling very quickly so if you have been thinking of selling your condo or have had a hard time trying to sell your condo in the past, now is a great time to try again. We’re thinking that part of what is fueling this market are the low interest rates which also makes it a great time for Buyers to get into the market so it’s kind of a win-win situation for everyone! You can get a 5 year mortgage for 2.69% right now! Remember that if you are thinking of selling, call us beforehand so we can properly advise you on how best to prepare and thus get top dollar for your property. It’s worth it! Call our office today at (604) 263-2823 to set up your free market evaluation Sayo