The beginning of a new month means it’s time for our Market Update! What can I say, but demand still outpaces supply, creating a busy, fast paced market in East Vancouver Real Estate. Across every market we saw a decrease in the number of listings compared to this time last year, yet an increase in the number of sales.
The Detached Market is still booming, with great new homes being listed, then sold just as quickly. The Condo Market has continued to see a lot of activity, with lots of new condos completing construction recently (which often leads to listings from pre-sale Buyers) and a few new condos hitting the pre-sale market. The townhouse and half duplex market continue to see strong numbers as well. It’s still paramount that Buyers are prepared in order to be successful in this market: engage with a realtor (us!) to learn about the process and your options, speak with a mortgage broker to get a handle on your finances and start viewing property so you know when you’ve walked into a good one (we can help with that too!).
The East Van Real Estate market should continue to be busy through to the end of June so expect to see new listings hit the market every week (primarily between Monday and Thursday). The market typically slows down quite a bit in the summer months, but it’s been so busy to start the year that this activity may continue longer than usual.
For now, take a look below for a more in depth look at each market:
As always, contact the WeLoveEastVan team (and check out our new head shots!) if you have any questions. We want to encourage every Buyer or Seller to contact us to talk about their real estate goals – we can ensure you’re positioned to find the right home, at the right time, for the right price and terms in what’s expected to be a busy market!