“So far the 2015 market for Detached Homes has been incredibly crazy with tons of bidding wars which means record sale prices above list price. We thought we would share with you some of the highlight sales that have happened to date because simply put whatever is going on out there is nuts. if you are somewhat close to the city Coquitlam or West you are running into bidding wars if you are buyer. If you are a seller you are very lucky to be enjoying this market. It’s a frustrating time for buyers but a great time for sellers right now.”
Below we will show some of the highlight sales that have happened in the short year to date.
“In Burnaby there was a house at 8675 12th St that was listed at $838,000 that sold in 5 days for $1.1 Million. $262,000 above the list price. The list price $838,000 was in line with recent sales prior to that. It was on a nice lot in good neighbourhood and sold for significantly above list price.”
“Out in New Westminster at 1924 London St listed at $829,000 sold for $985,000 in 5 days on market and subject free like most other record breaking sales.”
“Next in North Vancouver on 960 Beaumont Dr in the Edgemont Village area was listed at $1.488 Million sold $1.689 Million $201,000 above list price in 3 days.”
“In the British Properties at 725 Eyremount, West Vancouver home listed at $4.198 Million sold for $5.880 Million in 4 days. Basically $900,000 above the list price. When talking about $5 million dollar homes it may not be so much for the sellers or buyers but that is a huge above list sale!”
“In Vancouver at 65 E 26th Ave listed at $1.598 Million sold for $2.165 Million sold in 11 days. Thats over $560,000 above the list price on a 31.25 frontage lot which is crazy that East Vancouver is now getting those prices.”
“But the winner for the craziest sale is a Shaughnesssy home at in the Vancouver West area at 1383 W 32nd Ave listed at $5.99 Million and sold for $8.010 Million in 12 days. That is $2 Million above list price and it takes the cake so far for this year!”
“It is unfortunate for buyers if you are trying to find a new home and staying in a hotel or renting short term. Who knows when this will lessen up but it is what it is right now which is crazy.”
“For sellers if you are on the fence about selling now is the time to get off the fence to and enjoy the rewards of the your detached house. Condos and Townhomes are strong as well but not as crazy as detached homes.”
“To give you some averages for homes in Coquitlam and west of Coquitlam in Greater Vancouver on average year to date days on market is 30 days but the median has been 9 days on market. Which tells you that most of the homes are selling fast, but a couple are lingering a little longer because there are still some duds out there. On average houses are selling for 100% of the list price. The range for 2015 so far is 131% to 56% of the list price… we aren’t sure what happened with that 56% of the list price sale but we are sure there was something wrong there.”
If you have any questions about selling your home or would like to know more about this crazy market feel free to contact us!
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