I hope you are all having a great week so far. The only downside is the unrelenting rain. Hopefully we are going to see it lighten off soon as I can't wait to go hiking in Manning Park and experience all the magnificent sub alpine meadows filled with a dazzling array of spring colours against a clear sunny sapphire backdrop.
Well it has been a great success selling my listing on Burnaby Mountain at SFU. To say that only 22 sales have occurred in this market since January 2012, I sold this place in 5 weeks on Monday April 24th 2012. Even though we are definitely dealing with a quieter market, there are still buyers out there scanning the airwaves for a home, an investment that is priced competitively and presented well. And that is the key!
So what is happening out there right now?
Greater Vancouver: As of April 21, 1,966 Sales (3,270
Sales in April 2011), 17,154 Active Listings (15,239 in April 2011) –
should finish the month with a 7 Month’s Supply
Vancouver West Side: As of April 21, 386 Sales (761
Sales in April 2011), 3,260 Active Listings (2,624 in April 2011) – should
finish the month with a 7 to 8 Month’s Supply
Vancouver West Side Detached: As of April 21, 88
Sales (214 in April 2011), 902 Active Listings (590 in April 2011) – should
finish the month with a 7 to 8 Month’s Supply
Vancouver West Side Condos: As of April 21, 260 Sales
(451 in April 2011), 2,007 Active Listings (1,766 in April 2011) – should
finish the month with a 6 to 7 Month’s Supply
Vancouver East Side: As of April 21, 232 Sales (322
in April 2011), 1,288 Active Listings (1,094 in April 2011) – should finish the
month with a 4 Month’s Supply
Vancouver East Side Detached: As of April 21, 91
Sales (171 in April 2011), 534 Active Listings (528 in April 2011) – should
finish the month with a 4 Month’s Suppy.
It is definitely a buyers market for the most part out there right now. So for all you sellers out there-take note!
- Price your place sharply and competitively
- Listen to good advice from your Realtor who should be monitoring the markets regularly and keeping you up to date
- Be prepared to work with good offers and not just blast them out of the water
- Remember that as a seller, you are also a potential buyer and should look forward to buying a new place for a great price.
- If your price has to adapt to the markets, every other listing will probably be doing the same-it is all relative.
So there you have it. Tune in next week when I will be posting the final numbers for April with a full breakdown of each property market across Greater Vancouver.
Take care and good luck!
Cheers
Gerry
