Fall 2005 Market Update

Following on from the last issue, the question posed was how long would the spring market last this year? Well, we’re in mid August and its still going strong! Competing offers are common place and the stats will likely reflect average price increases in 8-10% range right across the Vancouver market for the first half of 2005. To buy and sell most effectively under these market conditions means a major change in mind set for most consumers.

As a buyer, it is important to be as well educated as possible on market value so that you have the confidence to know when to step up and when to walk away, often under extreme time pressure. Listing prices invariably have very little connection with either market value or the eventual selling price.

As a seller, ensuring maximum exposure for your home and creating a highly competitive circumstance around the sale, without deterring any buyers in the process, is a delicate art.

In both situations, having the right Realtor beside you can be critical. So far this year over 70% of Duncan’s listings have sold in excess of the list price in competing offers. To find out more please feel free to contact Duncan directly anytime.