October 2010 Vancouver (Downtown & West Side) Condo Market Update:

 
October 2010 Vancouver (Downtown & West Side) Condo Market Update

October 2010 saw a large turn-around of activity in the Downtown Core. The last half of the month seemed to bring a lot of Buyers attention back to the Real Estate Market. As you cansee from the chart above, Sales stayed pretty consistent from September with only a minimalrise. Interest Rates have stayed consistently low but the slow tapering off of inventory (Listings) has sparked peoples attention again.

Listings have continued to decline as a number of Sellers were only Listed to try and over-capitalize on the market. That group was of course not successful as interest rates stayed low, diluting all urgency in our Buyers market. Since growing numbers of these over-priced (& not willing to reasonably negotiate) Listings are coming off the market, Buyers attention has been growing.

There is no foreseen change in the near future with the Economy or Interest Rates. People have been hesitant to invest in the Real Estate market over the past number of months, those people will now see a continued stability and re-think their strategy.Please feel

Free to contact me direct or have your clients contact me direct for any questions at jay@jaymcinens.com / 604 771 4606