Diane Birk
Royal LePage Westside
5970 East Boulevard , Vancouver, BC
P: 604-261-9311
F: 604-261-6648 Email
Saturday, November 29, 2008
- Sellers' Reality Check
November is traditionally a slower market period, but nonetheless, people still buy homes in Nomvember and December. Sellers who have had their home on the market a while, might be wondering what the heck is going on. (Maybe it’s the agent’s fault). But here are some important numbers. From 2000 to 2007, the number of sales for Detached homes in the month of November averages 117. In November, 2008, only 13 Detached homes have sold. If we look at the condo market, the average number of sales in the month of November from the same previous years is 396, but this November, there have been only 98 sales. Buyers have definitely put on the brakes. There is a "wait and see" attitude out there, which is likely to continue at least through the month of December. Prices continue to moderate, and Sellers need to be patient, and adjust to the market.
posted in General
at Sat, 29 Nov 2008 12:31:11 -0800