East Vancouver Real Estate Market Update for April 2015

13.04.2015

It’s officially Spring in Vancouver, though we’ve been seeing a busy real estate market since February. Things haven’t slowed down this past month as we continued to see a number of quick sales, lots of multiple offers and growing interest from Buyers and Sellers. If you’re looking for a stat to prove that – the sales to active ratio was 50% across all of East Vancouver last month, meaning half of all homes listed for sale were sold, while Days on Market dropped to 10 days. Prices are increasing, often helped by people bidding each other up during multiple offers. There have been some situations blown out of context thanks to various news agencies (like this) so if you want the opinion of professional, analytical and successful realtors, let us know. We’re happy to give you our take on the market and what you can expect given what you’re hoping to buy.

I’ve had a lot of people mention to me that us Realtors must love this busy market where homes are selling above asking and very quickly. Honestly? These are really tough markets, and far from my favourite. Homes are selling so quickly that it’s hard to get Buyers into see these great properties before they have an offer. I’ve also written a few offers with the same clients, which can end up being an emotional roller coaster for everyone involved. And price? When it comes to multiple offers, trying to figure out an offer price that keeps us competitive, yet doesn’t feel like an over-valuation has been difficult.

Remember, “value” is different for everyone. Value to someone looking to make the unit their home for the next 10 years is different from the value to a condo flipper. Value is different to someone who’s been looking for months, than compared to someone who has only started looking. At the end of the day, I encourage my clients to write offers on homes they love that are expecting multiple offers because you never know what the other Buyers will offer. I’ve seen homes that expected a few offers that never materialized, I’ve seen financing fall through for prospective Buyers and I’ve seen homes that have sold for under their list price (though keep in mind that homes can be over- or under-priced).

One thing is certain, prospective Buyers need a Realtor to guide them during this market. For determination of value, professional guidance on building maintenance, trust during the offer process and a well connected network to get the Buyer in to see as many options as possible (a lot of homes are selling without going on market right now). Contact us to sit down and chat about how we can position you to win in this market.

Now, for our specific East Vancouver Real Estate Market updates:

East Vancouver Condo Market Update

East Vancouver Townhouse Market Update

East Vancouver Detached House Market Update 

Have a great April! We’re here if you need us, just give us a call or send us a message.

[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!