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
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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