I hope you are all well and beginning to feel that beautiful spring weather pushing its way through the clouds and rain. I am seeing so much new growth and activity with colourful displays everywhere that it puts a "spring" in my step.
So how have the property markets been behaving? No doubt it is not as hot as 2011 but of course that was an exceptional year. A lot of home buying was fuelled by the imminent changes to borrowing rules and regulations that created a frenzy. We have returned to a normal market and that is not such a bad thing. I have recently had a very good accepted offer on an apartment on Burnaby Mountain in just 23 days of listing in an incredibly slow market. However it does help to be realistic, price it competitively and be in the market and not just on it. It also makes a big difference to present a clean, bright and inviting space. Putting the effort into getting it sale ready makes the difference between serious offers and no action at all.
So for all you potential sellers out there, here is a graphical breakdown of recent markets and the average time it has been taking to sell a property with a three year history 2010-2012:
So there you have it. Property is still selling and the ones that are performing the best are those who are willing to work with the markets, have realistic expectations, present their places to best they can be and are willing to work with reasonable offers.
If you have any questions don't hesitate to get in touch.
Stay tuned for more statistics.
Good luck everyone!
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