ACTIVE
SOLD

Pent up Demand Growing

According to the BC Real Estate Association most recent report,

 

"...many potential buyers and sellers remain in a holding pattern. With pent up demand now becoming latent in the market, it’s not a matter of if, but when home sales rise above their current pace."

 

Looking at my Metro Vancouver market study for February 2013: 

Downtown "attached" (condos and townhomes)

  • Official Market Type Downtown: Balanced market at 15% Sales Ratio average (14% is a Buyers market)
  • Homes are selling on average 2% below list price
  • Most Active Price Band* +/- $1 mil: $0 to $500,000 (Sellers Market); $1 mil to $1.25 mil (Buyers market)
  • Buyers Best Bet* under $1 mil: Homes from $800,000 to $900,000 (Buyers market), Coal Harbour and 3 bedroom properties
  • Sellers Best Bet*: Selling homes in Yaletown, and up to 1 bedroom properties

Vancouver Eastside "detached" (houses)

  • Official Market Type Eastside Detached: Balanced market at 15% Sales Ratio average (14% is a Buyers market)
  • Homes are selling on average 2% below list price
  • Most Active Price Band*: $700,000 to $800,000 with average 33% Sales Ratio (Sellers market)
  • Buyers Best Bet*: Homes between $1.75 mil to $2 mil, Fraserview, South Vancouver and minimum 7 bedroom properties
  • Sellers Best Bet*: Selling homes in Grandview, Main, Renfrew Heights and up to 2 bedroom properties

Richmond "attached" (condos and townhouses)

  • Official Market Type Richmond Attached: Buyers market at 11% Sales Ratio average (1.1 in 10 homes selling)
  • Homes are selling on average 4% below list price
  • Most Active Price Band*: $700,000 to $800,000 with average 24% Sales Ratio (Sellers market)
  • Buyers Best Bet*: Homes between $500,000 to $600,000, Granville, Steveston South, West Cambie and 3 bedroom properties
  • Sellers Best Bet*: Selling homes in Ironwood, South Arm, Steveston North, Terra Nova and minimum 4 bedroom properties
 

For a copy of my whole report on where real estate is trending in Metro Vancouver including West Vancouver, North Vancouver, Tsawwassen, and Ladner... email billdemooy@gmail.com 

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