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Thank you to everyone who has put their faith and trust in me to help me achieve number 3 at Macdonald Realty for sales in October, I couldn’t have done it without you!

 

 

Now to the good stuff…

 

It is amazing to see the reality of what is happening in our Real Estate community. I have been preaching for months that the product and areas compared to sales are extremely pocketed and the numbers below will show you just that for your area.

 

A balanced market, a market where neither Buyers or Sellers are necessarily favoured, is a supply of 5 to 7 months of inventory. What this means is that if you were not to list another house for sale as of today, how long would it take to get rid of all of the inventory that is on the market. When the market conditions take less than 5 months to sell a home, we are in a heavily favoured Sellers’ market, meaning they have all of the power. This leaves us with anything over 7 months means we are in a Buyer’s market, and the months can get a whole heck of a lot higher than 7.


Take a look below to see where your investment lies.  Green denotes a balanced market/ Blue denotes a Seller’s market/ Orange denotes a Buyer’s market

 

White Rock

Active listings vs. sales (Oct 2011)

Months of Inventory

Detached Home

604 / 97

6.2 months

Townhome

186 / 43

4.3 months

Condo

391 / 42

9.3 months

 

North Delta

Active listings vs. sales (Oct 2011)

Months of Inventory

Detached Home

195 / 43

4.5 months

Townhome

21 / 10

2.1 months

Condo

32 / 4

8 months

 

North Surrey

Active listings vs. sales (Oct 2011)

Months of Inventory

Detached Home

390 / 56

7 months

Townhome

94 /13

7.2 months

Condo

423 / 44

9.6 months

 

Surrey

Active listings vs. sales (Oct 2011)

Months of Inventory

Detached Home

953 / 125

7.6 months

Townhome

366 / 61

6 months

Condo

225 / 25

9 months

 

Cloverdale

Active listings vs. sales (Oct 2011)

Months of Inventory

Detached Home

296 / 48

6.2 months

Townhome

186 / 27

6.9 months

Condo

98 / 17

5.8 months

 

Langley

Active listings vs. sales (Oct 2011)

Months of Inventory

Detached Home

535 / 96

5.6 months

Townhome

272 / 28

9.7 months

Condo

283 / 44

6.4 months

 

Now, this is beautiful information for anyone looking to invest in or off load real estate to see how they will fare in the given markets. It is also important to note, there is opportunity everywhere out there and to be aware of that. With the area being so pocketed, it is ever so important to get the advice of a local realtor who know the market in and out. The next time you hear someone mention they are buying or selling, please take out your phone, look up my name and call me. We will get them set up on the right path.

 

Until next month,

 

Your friend in the Business,

Darin Germyn

Multi-Award Winning Realtor

Macdonald Realty

homes@germyn.ca

604-374-6145

 

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