It’s officially summer, but the East Van Real Estate market is still in full swing. The sales to active ratio across every market in East Van is a strong 51%, which is a huge increase over the 28% we saw in June 2014. The inventory numbers are also interesting: last month saw an average of 910 properties for sale, whereas June 2014 saw an average of 1,311 properties for sale. With 30% fewer properties listed for sale right now, Buyers are fighting for the first good property they see and we’ve seen that in the high number of multiple offer situations we’re involved in every week, for all different types of properties. You need to be really prepared in a multiple offer situation by doing as much due diligence as possible (sometimes that means doing the inspection before the offer), reading through the strata docs beforehand and coming in with a strong price.
For a little more specific information about the condo, townhouse and detached house markets in East Van, take a look at these updates:
As always, contact the WeLoveEastVan team is here if you have any questions on buying or selling real estate in East Van. Even if you’re looking to get serious in September, contact us now so we can get you on the right track from the get-go.