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The Townhouse and Apartment Market Explosion

April 17, 2017 by Editor

Townhouse in the SpringA lot of people have realized this can be a great time to buy or sell an apartment or townhouse.

Like the cherry trees, the spring real estate market is blossoming. The number of sales and new listings is rising sharply from the winter doldrums, as happens every year.

However, in spite of the activity, the total number of townhouses and, especially, apartments listed for sale has been trending steadily lower for the past few years while demand remains as strong as ever.

This is having the expected results: the median number of days to sell an apartment was only 8 days in March, and prices have been rising steadily.

  • Buyers are getting in the market before it becomes completely unaffordable.
  • Sellers are taking advantage of a hot condo market to cash in and buy into detached houses while house prices are still a bit soft.

Trends vary for different sub-areas and price points.

When it’s time to move, call me for current statistics for any local neighbourhood.

Statistics Source: Real Estate Board of Greater Vancouver

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Filed Under: Buyers, Real Estate Perspective, Sellers

The News – and the Reality: Trends Affecting Real Estate

November 21, 2018

One of the most popular activities in the daily news cycle seems to be forecasting the future of real estate. And it’s not uncommon to see wildly opposing views on where the market is headed, and when it might get there. This month’s post explores the news — and the reality.

Read More

The Changing Market – What Does That Really Mean?

October 22, 2018

After several years where home sellers had a market advantage, now buyers have more selection, more time to make good decisions, and their dollar buys more house than it used to.

Read More

Great Opportunities for Trading Up or Down…If You Qualify

October 9, 2018

Talk to a mortgage broker if you plan to move. There is still a strong demand for housing especially in retirement and recreational properties.

Read More

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Shannon Realty

Suite 207 5740 Cambie St.,
Vancouver, BC. V5Z 3A6
1-604-649-6058

Email: jeff@shannonrealty.ca

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