Wednesday, May 20, 2009 - Vancouver Realestate Market is changing
What is happening for the past two weeks. Every offer we present in downtown Vancouver there is another offer waiting on the table along with ours. Buying frenzy again ? Interest rates are low, great for first time buyers, those listings still in the market are reasonably priced, otherwise they are off the market or rented out.  Having said that the units are still selling at prices below assessment and not higher. They are selling though.
Funny thing is that over $1 million price range is still a tough sell. I was checking price of homes selling in west vancouver over $1.5 Million above the upper level highway (British Properties area) and I could only see 7 homes sold since January 2009.