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Market Balanced But Sales Up - October 2013 Market Update

Blog by Kelsie Struch | November 14th, 2013

Sales Up Nearly 40% in October Over the Same Month Last Year

October was a very steady month for Vancouver Real Estate.  Sales were up 7.2% over September 2013 and up 37.8% over October 2012.  Despite the increased sales activity, the market in general still remains quite balanced among buyers and sellers.  Prices remain fairly constant with a few exceptions.  There are several "hot pockets" of activity in certain neighbourhoods, a few of which include:

Yaletown Condos

Mount Pleasant Condos

Westside Condos and Detached Homes

Eastside Detached Homes

North Vancouver Detached Homes 

Most of these pockets have a sales ratio of over 30% meaning that over 3 in 10 homes are selling and prices are up over last year (from 3% to 10%).

Multiple offers have been occurring frequently in the East Vancouver Detached home market.  Three "Vancouver Special" style homes in the Fraser/Knight Street neighbourhood all sold well over asking price (minimum of $65,000 over) with a combined 33 offers over the past 3 weeks.

Lofts are also hot properties as I witnessed first hand a property listed at $429,000 in Gastown receive 7 offers and sell for $451,000 only 2 weeks ago.

View complete stats package here: October 2013 Vancouver Stats Package

For more information on your local market contact me directly at 778-387-6090

Kelsie Struch
2012, 2011 Medallion Member
Century 21 In Town Realty