Metro Vancouver’s Real Estate Market is picking up again in one particular area.
Realtor Steve Saretsky says he’s noticed an uptick in the Condo market.
“Anything sub about $700,000 roughly. January condos in the Vancouver west side, about 25% of them went into multiple offers, still down from about the 38% in 2016.”
He says multiple offers means prices are going up.
“The thing is, we’re still historically low inventory levels. So basically the buyers that are going in there are all competing against each other.”
In December — the province announced a first-time home-buyer’s loan program.
Saretsky says it’s too early to tell if that’s the driving force behind a continued hot condo market.