Market Report For May

(May 13, 2015 )

Home Buyer Demand Outpacing Supply! Multiple Offers Are The Norm These Days.

(Now if you simply want to get your copy of the best market report ever, simply scroll to the bottom of this page, but then you'll miss my short & sweet video.)

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 4,179 on the Multiple Listing Service® (MLS®) in April 2015. This represents a 37 per cent increase compared to the 3,050 sales recorded in April 2014, and a 2.9 per cent increase compared to the 4,060 sales in March 2015.

Darcy McLeod, REBGV president said, "the supply of homes for sale today in the region is not meeting the demand we're seeing from home buyers. This is putting upward pressure on prices, particularly in the detached home market." The sales-to-active-listings ratio in April was 33.6 per cent. This is the highest that this ratio has been in Metro Vancouver since June 2007. It’s a competitive and fast-moving market today that is tilted in favour of home sellers. To be competitive, it’s important to connect with a local REALTOR® who can help you develop a strategy to meet your home buying or selling needs.

I you have further questions regarding market conditions in your area, feel free to contact me anytime to discuss your situation. Also under the My Team tab on my website, you'll find a list of the top mortgage brokers, lawyers and notaries I work with. Contact any of them to get excellent advice and guidance. 

If you haven't already, please visit my Facebook Page and hit the "Like" button. You'll be able to keep up with the Vancouver market that much easier, and my posts are almost always guaranteed to bring you a chuckle. Thanks very much, and I'll see you next month.

​...Oh by the way, if you or someone you know are thinking of buying or selling a home, I'm never too busy for any of your referrals.

Craig