Download your own Statistics Package by clicking here: https://davidsetton.com/market-updates.html
Dispel a myth. Is it bad to sell a home in the winter months in Vancouver?
- answer - definitely not!
- sellers think that people go on vacation at this time.
- when looking at the stats these individuals couldn’t be more wrong
- last year in December 2013 we saw prices in the Vancouver Westside Single Family peak and we are seeing the same trend this year.
- reason is simple economics.
- less homes are on the market
- supply drops and prices go up
- in Dec 2013 Westside single family home inventory dropped to only 525 homes and prices peaked at avg of $2.468M
- we are seeing the same trend this year.
- inventory is starting to fall again and prices are jumping up.
Download your owns statistics package specific to your community and price point here:
What’s hot What’s Not – Vancouver Westside – Single Family for Nov 2014
We are officially in a seller’s market - Prices are holding steady. Avg price last mo. $2.517M dn slightly from Aug $2.320M and 154 / 715 sold. -Haven’t seen prices high since Feb.
-inventory looks like it is continuing to drop up pressure on pricing.
What’s Hot (21% or more for a SR)
- Dunbar - remains hot – 39% SR – 31 / 79
- Kitsilano - 37% - 10 / 27
- Mac Heights - 30% 9 / 30
- $1.5M - $1.75M - 83% SR smok 20 / 24 sold
- $2M - $2.25M - lots of act. 19 / 38 - 50% SR
What’s not hot (14% or less for a SR)
- high end luxury market still very cool
- $4.5M - $5.0M - 9% with 4 / 46 sold
- $5M+ lots of inventory 4 / 126 -4% SR
- Shaughnessy - 6 / 83 - 7% SR
- Marpole - 5 / 51 - 10% SR