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
Comments:
Post Your Comment: