I shot this video, about how voracious the Vancouver Real Estate market is, with Andrew Perkins who services Halifax Condos for sale a few months back. Andrew was visiting various cities in Western Canada and getting together with various Realtors to discuss market conditions in each city. Naturally we discussed Vancouver Real Estate.

Since we shot this video little has changed. As we are approaching Christmas there are still houses, condos and townhouses being bought and sold in surprising numbers.

I know it it a classic Realtor line or cliche but it holds significant truth in our current market... "Now is a great time to sell". For the record I depsise that line as isn't always true!

If you are at all contemplating selling your home in the coming year, it would be worth taking advantage of this pent up demand by Vancouver home buyers.

Many homes which are priced right are being bought in multiple offer scenarios, often fetching more money then the seller's had hoped for. Of course one can not just throw their home up at any price and expect this to happen. The home must be priced very fairly or even a touch below market value and not allow showings or offers for a few days or even a week. Have an afternoon showing on a weekend and if the home is desirable and prced well multiple offers are likely to ensue.

A Burnaby home for sale recently sold in multiple offers for $26 000 more than asking within a week. But only after being repriced from $775 000 to $699 900 after 60 days at the higher price with no offers and few shwings. In the end they had 4 offers and got $25 000 more then a normal market would have brought them.

In the end the buyer and seller did well on this transaction all things considered and are both very happy.

Bottom line is the Vancouver Real Estate market is driven by supply and demand and supply is lower then normal and demand is higher than normal. Buyers and Sellers must adapt accordingly.