High Demand & Low Supply – November 2015
We are in a market of high demand and low supply, folks. While normally a quiet time of year, this past month we’ve seen listings snatched up left, right, and center, with no signs of slowing down. We’re not surprised to hear that sales for the past month have been 46.2% higher than the 10-year average – heck, this month saw the second highest number of sales on record for November. Properties of all types have seen an upward trend:
Even though listings are flying off the shelves, the overall number of properties listed for sale has decreased.
A market of high demand and low supply is a tough one, to be sure. Team Blu has been doing deals for buyers a plenty, but for the first time in our brokerage’s history, we don’t have any listings. If that’s not telling of the current market situation, we’re not sure what is.
So, what’s the take-away from this cheery little statistical check in? If you’re pondering selling your place, we can think of no better time. We’ve seen properties fly off the market after only one weekend, and for the time being, multiple-offer situations are becoming the norm. This could well mean some extra cash money in your pockets to kick-off 2016.
Statistics courtesy of the Real Estate Board of Greater Vancouver