East Van Real Estate Market Update for September 2013

12.09.2013

Analyzing the trends in East Vancouver Real Estate

August was a lot busier than expected in Vancouver’s Real Estate market.. for both sales and general interest in the market even though fewer listings were available. This past August saw an overall 50% increase over August 2012, which is pretty significant for a typically slow month.

Though inventory numbers for East Van property for sale are still rising – we expect the peak to be around the beginning of October – there aren’t a ton of good options right now but stay tuned. Expect good properties to get a lot of interest and sell quickly. We’ve got a lot of interested Buyers waiting to jump on the right property, and we’ve got a few new listings coming up soon (including a Vancouver Special just West of Main Street).

Subscribing to my PCS Listings Service will help you stay on top of the market – it’ll email you with new listings that match your criteria every day, often before the listings hits Public MLS. You’ll be able to see if listings have sold, or dropped their price.

The banks are becoming more picky with requirements for lending – we’ve seen quite a few deals fall through due to financing. We expect these lending hassles to bring the Fall Market down a notch – it’ll still be busy just not as hot as expected. Keep in mind that in with accepted offers falling through due to financing, properties aren’t sold until all subjects are removed. Submitting a back up offer is a consideration in this kind of market. Play with our Mortgage Calculator to get an idea of where you fall in the affordability spectrum.

An overall trend I’ve noticed in the market is a decrease in listings over last year and an increase in sales. Reading between the lines – this means there is more competition for fewer listings, and Real Estate in East Van remains popular – for first time Buyers (thanks to the lower prices), for mid sized townhouses & half duplexes, and for family homes awaiting a reno.

Take a look at a more detailed analysis of each type of property:

East Van Houses

East Van Townhomes

East Van Condos / Apartments

Otherwise, get searching for your next home in East Van.

 

[x] close

Login for Full MLS Access

Name*:

Password*:

Email*:

Phone:

Budget: -

Square ft.: -

# of Bedrooms:

# of Bathrooms:

Area:

Key criteria:

Terms of Use

The term Virtual Office Website ("VOW") refers to a Participant's (REALTORS®) Internet website, or a feature of a Participant's Internet website, through which the Participant provides real estate brokerage services to Registrants (clients and prospects) with whom the Participant has first established a relationship where the Registrant has the opportunity to search for MLS® data, subject to the Participant's oversight, supervision and accountability. By agreeing to these "Terms of Use" you:

  1. acknowledge and understand that the Terms of Use do not create an agency relationship and do not impose a financial obligation on the Registrant or create any representation agreement between the Registrant and the Participant;
  2. understand that all data obtained from the VOW is intended only for your personal, non-commercial use;
  3. do have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered through the VOW
  4. agree not to copy, redistribute or retransmit any of the data or information provided;
  5. acknowledge the Board/Association ownership of and the validity of the copyright in the MLS® database.
  6. agree that all information provided may be provided to the relevant Board and may be used to administer and operate the VOW and to investigate any breach of security of the data or the MLS® rules
  7. that a "mouse click" is sufficient acknowledgement and agreement to the terms
  8. must supply a user name and a password, the combination of which must be different from those of all other Registrants on the VOW, before being permitted to search and view information from the MLS® database via the VOW.
  9. must provide a valid email address. The Registrant may be permitted to access the VOW only after the Participant has verified that the email address provided is valid the Registrant's agreement to the VOW's Terms of Use is confirmed.
  10. understand the Participant must at all times maintain a record of the name, telephone number and email address supplied by the Registrant, and the username and current password of each Registrant, such records to be kept for not less than 180 days after the expiration of the validity of the Registrant's password. If the Board/Association has reason to believe that a Participant's VOW has caused or permitted a breach in the security of the data or a violation of MLS® rules related to use by one or more Registrants, the Participant shall, upon request, provide to the Board/Association a copy of the record of the name, email address, telephone number, username, current password, and audit trail, if required, of any Registrant identified by the Board/Association to be suspected of involvement in the violation.
  11. Understand that information on this site is deemed to be valid but is not guaranteed. It is the responsibility of the registrants to confirm all information on their own. Broker may not have reviewed or approved listing enhancements. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  12. Understand any agreement entered into at any time between the Participant and Registrant imposing a financial obligation on the Registrant or creating agency representation of the Registrant by the Participant must be established separately from the Terms of Use, must be prominently labelled and may not be accepted solely by mouse click
  13. have received, read and understand the brochure published by the British Columbia Real Estate Association entitled Working With a REALTOR®

Having agreed to the terms and conditions of use, I would like to have access to this VOW information.

 Terms and Conditions I agree to the Terms and Conditions

[x] close

Login for VOW Access

Remember me

Don't have an account? Register now!