Comments on: Supply and Demand

By: Vancouver Realtor

Vancouver Realtor — Wed, 10 Mar 2010 06:28:41 +0000

We’ve seeing a shortage of quality listings in Vancouver up to the Olympics but the last week has seen a slight increase.

By: C Short

C Short — Fri, 08 Jan 2010 09:44:42 +0000

Things have started to change even in other parts of the world. The property market in mumbai and delhi have picked up as well.

By: Toronto Real Estate Recovery 2009 | TrueCondos.com - The Best Source for Toronto Condos

Mon, 27 Jul 2009 18:49:22 +0000

[...] been talking a lot lately about supply and demand on this blog. The figures are staggering over the past few months. It is becoming increasingly [...]

By: Joel Phillman

Joel Phillman — Wed, 17 Jun 2009 19:50:09 +0000

Hi Andrew,

Thanks for the advice

Buying & selling is an emotional process, and I guess I just really wanted that unit.

Overpriced by $15,000-20,000, small, luxurious and with a great view in Yorkville. I am moving-in soon, and probably sellers in that building will love me while buyers will hate me for setting a new record high price lol

Future will tell if the decision was right.

Thanks again,
Joel

By: Toronto Condo Market Stats May 2009 | TrueCondos.com - The Best Source for Toronto Condos

Tue, 02 Jun 2009 19:09:54 +0000

[...] Stats are out for the month of May from TREB, and as I predicted in my last post, they show May as being the busiest month of the year so [...]

By: Mike Stewart

Mike Stewart — Mon, 01 Jun 2009 20:28:33 +0000

Great blog post Andrew!

We’re seeing the same thing here in Vancouver. Lots of buyer activity is absorbing all the listings. Its great news!

By: Andrew la Fleur

Andrew la Fleur — Fri, 29 May 2009 14:50:44 +0000

@Jay If you look at median prices instead of average prices, it is the same story for April – prices are down.

Funny comment about agents at your condo. We are easy to spot aren’t we?!

By: Andrew la Fleur

Andrew la Fleur — Fri, 29 May 2009 14:49:14 +0000

@Joel Don’t waste your time on over priced listings. Tell the seller what you think it is worth, and if they don’t budge, then move on. There are a lot of stubborn sellers still out there, hence a lot of crap listings that will sit and sit and sit.

And be patient. Don’t just buy something because you have to. The spring bubble will soon be behind us and hopefully inventory will start to grow and pressure will be temporarily taken off the markets in July and August before the fall bubble.

By: Joel Phillman

Joel Phillman — Fri, 29 May 2009 12:17:28 +0000

I so totally agree. I am a Buyer and the market is just horrible, the Sellers are dictating everything these days. I’ve lost in 2 (two) weeks several downtown condos to multiple offers and bid wars. The only one still available from my short list is overpriced by 5% and I am not sure what to do. If that’s a spring bubble that will burst in fall I’ll have a lemmon on my hands for years to come. If not, I may miss the opportunity to buy something with a great future value, despite the fact that is overpriced right now. The Buyer is acting up very strangely, he won’t budge a dollar on the price, it’s more like he is dictating rather than negotiating. All over the world prices dropped dramatically while here in Toronto they never did significantly. Are we seeing the “traditional” delay of 6-12 months in comparison with the US market, or Canadian market is so special defying gravity…?

By: Jay

Jay — Fri, 29 May 2009 03:25:20 +0000

Hi Andrew,

Enjoy reading your blog so far. The average selling price is down – is this due to everything being down uniformly or the “average” being influenced by the high-end not selling as well? If you looked at each of the low, middle, and high tiers individually would all show a decreased average selling price and to the same degree?

I see many real estate agents and their clients EVERY weekend at my condo (and sometimes on weekdays too). The folder, business casual attire, and slightly lost-looking clients trailing you are dead giveaways.