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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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The Entry Level To Every Vancouver Condo Category is Doing Well But The...

Vancouver Condo Real Estate Video Blog #549 - May 14, 2010

The Entry Level To Every Vancouver Condo Category is Doing Well But The...

Ian Watt video blogs about how The Entry Level To Every Vancouver Condo Category is Doing Well But The upper end of each category is slow and is suffering as there is too much inventory and so many choices for consumers. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.


Ian Watt : Hi Good Afternoon, it's Ian Watt in Downtown Vancouver. If you've been following the Downtown Vancouver market you will see how things have changed quite a bit. Were up 60% in our listings. Which is had a lot of pressure on sales as well. Now think about this, every entry level to every different category is doing well. It's the upper end of each category that's getting hammered for example. The one bedrooms that are 350 to 400,000 dollars no problem they're selling the problem is the one bedrooms around to $500,000 mark are really slow. Again, when you go to the two bedrooms in the 550 to 650 range they are selling really well. The $900,000 dollar the million dollar two bedrooms are little bit slow. And think about the studios all the studios are flying right now but if you put your studio price up to high your getting close to 1 bedroom mark is not gonna sell. Very interesting times, great time to be a buyer you have a lot of inventory to choose from and you can take your time plus the mortgage rates are fantastic. But pricing is everything. My name is Ian Watt and if you have any questions about the Downtown Vancouver market. You could always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!