In this episode Ben & Jay discuss a continuing topic from last week "missing out in multiple offers in the current market"! Our caller last week had lost out in 4 multiple offers in the past couple of weeks and did not know what was really going on with the market. So we have pulled the numbers together to dhow you exactly where things have come and what the ACTUAL current market looks like TODAY!
The statistics of month to date October 2019 show 93 condo sales in Vancouver East & West Sides including Downtown Vancouver. 53% of those Condos sold had done so in 2 weeks or less. Â 23% had been listed prior at a higher number. Of those 93 sales, 77% sold in under 30 days on market. And finally of those 93 sales, 17.2% of those homes sold in multiple offers, over their asking prices.
Additionally in the detached housing market, there were 27 sales to date this month. 51.9% of those sales took place in 2 weeks on market or less. 14.3% of those properties were on the market prior at a higher price, cancelled then re-listed. From those 27 houses sold, 22.2% of them sole in multiple offer and over the asking price.
These Real Estate Board of Greater Vancouver Statistics show that the market has indeed picked up in both homes & condos. These are the types of details that you ned to be familiar with prior to offering on a home in the current market. Make sure you are working with an agent who is familiar with the climate of the market segment you are trying to purchase or sell in.
Contact us directly at your convince for any further details with regards!
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Jay McInnes
604-771-4606
[email protected]
Ben Robinson
604--353-8523
[email protected]
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