The sun is out, and the markets are bustling! Buyers are swarming the market, meaning fast closings and multiple offers. REBGV President Darcy McLeod: "We're seeing strong competition amongst home buyers today. This is leading to more multiple offer situations and some upward pressure on home prices. For sellers, this means that it's taking less time, on average, for your home to sell if you have it priced correctly for today's market."
He went on to comment, "The number of homes for sale today is below what's typical for this time of year. If you've been considering putting your property on the market, these market conditions indicate that now is a good time to list."
Looking more closely at Vancouver, we can see that prices are creeping up (the Benchmark price of a house on the East Side now above $1,000,000), but more drastic are the bumps in sales - up at least 25% on the West, and at least 40% on the East.
Have a look at more numbers below, and if you'd like to discuss this more, or find out how this might impact the saleablilty of your home, please get in touch!