Well Spring has officially sprung and the East Vancouver Townhouse market has been VERY competitive for buyers. There simply are not enough listings to keep up with the demand. This is especially prevalent in the 2 and 3 bedroom townhouse market. Every townhouse that was listed sold, and most sold in multiple offers. The average sale price in March for Townhomes in East Vancouver was $736,250 which was up from $699,000 in February 2016. The reason for this is LACK OF SUPPLY. There were only 27 Townhomes on the market in March and they all sold. The average sold for 4.7% over asking price.
As we continue through the Spring market and into the summer market I expect this market to remain very competitive for buyers and very lucrative for sellers. The number of buyers looking to move from a condo to a townhouse or duplex dominates the number of available options. This leads to multiple offers and upwards pressure on sale prices.
Thinking of Selling?
This is a historic time for sellers. Fill out our “Home Evaluation” form or give us a call today. We’ll walk you through our approach to selling your townhouse for maximum dollar while making the process easy and comfortable for you. If you are curious what your neighbours got for their home or what we think your home would sell for in this market we would be happy to hear from you.
Thinking of Buying?
As competitive as it is in this market there are a few things that you can do to help yourself have the best chance at securing your ideal home. Take a look at my blog “Multiple Offers – What do I do as a Buyer”. This will help point you in the right direction. Also, feel free to get in touch with us and we will walk you through the process. It is important to have a professional on your side to help navigate this market.
Don’t hesitate to contact us. We thrive on helping people achieve their real estate goals and East Vancouver is our specialty!
Casey – 604-363-7858