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Well the market continues to be challenging as inventory remains low and demand higher than the same time last year!

 

At the end of March the number of Active listings was down 26% (201 versus 272) while demand was up 24%.


Therefore it is critical for Buyers to understand the market & market value and be in a position to make a strong offer when a desired property comes to market.


Though the average number of days on the market is 46 a good percentage of the new listings have an offer within a week if not days.


For Sellers it still remains critical to be priced at an acceptable price because otherwise it sits longer on the market and the Buyers then wonder what may be wrong with it.


The average ‘sale’ price of homes that have sold has increased by 19%.


If you would like additional market information (different styled of real estate or specific areas) please contact us and we would be pleased to assist you.


Rudi & Trish

 

Download March 2016 Market Conditions

 

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TeamW
Home Office:250-468-1498
Toll Free:1-(888) 243-1071
TeamW-RE/MAX First Realty
#101-897 WEST ISLAND HIGHWAY PARKSVILLE
Parksville, BC
V9P 2E9 CA