East Vancouver Real Estate Market Update – January 2015!
Happy New Year Everyone! We’re into January and as people are getting back to work, the number of inquiries we receive from interested Buyers and Sellers is increasing every day. This activity is definitely setting the tone for this year. We expect the East Van Real Estate market to keep rolling – the detached house market was as strong as ever last year, we keep seeing newly built East Van condos and townhouses hit MLS and there’s no shortage of first time Buyers looking to get into the market. The number of East Van home sales (condos, townhomes or houses) in 2014 was 3709, while 2013 only saw 3066 sales – that shows a 20% increase over all. Individually, the detached house market saw a 22% increase, the townhome market saw a 8% increase and the condo market saw a 25% increase in sales over last year.
Just given the number of clients we have who are still looking to buy, along with the number of Sellers who’ve expressed interest in selling, along with our conversations with other good agents and mortgage brokers, we expect this year to be active. Depreciation Reports are becoming a big factor in Buyer’s purchasing decisions and lots of neighbourhoods in East Vancouver are growing.
Every market saw a drop in activity thanks to the holidays in December, but for more information on what happened last month, take a look at our market updates:
Planning for the New Year
One thing I want to point every one to is our Custom MLS Search that will become a favourite tool for every Buyer! This tool will keep a list of properties that match your ideal criteria (price, bedrooms, size, neighbourhood, construction, rental restrictions, etc) that you can access anytime – you no longer have to search across the internet for your next home, as these properties will be emailed to you in a succinct list. You’ll also be able to see how long they’ve been on the market and what they sold for – two pieces of information every buyer wants and can’t find on Realtor.ca. The best part is the WeLoveEastVan Team is only an email or phone call away for more information. For more information, and to sign up:
As always, contact the WeLoveEastVan team is 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!