Multiple offer scenarios

(April 07, 2015 , posted in North Vancouver Homes)


If you are up to buying a North Vancouver home be prepared to have all your 'ducks in order'.

Demand is high for North Vancouver detached homes.  They are selling like 'hot cakes'!

In the past three months approximately 50% of North Vancouver home sales sold for full list price or more ~ likely in multiple offer scenarios.

The Real Estate Board of Greater Vancouver shows 380 North Vancouver home sales year-to-date (YTD), January to March.  A closer look at the sale prices show:
  • 8% selling at their full list price and
  • 42% above the list price.
Furthermore, elevated demand is stronger in certain North Vancouver (NV) neighborhoods than others.  For example, some neighborhoods, every home that has come onto MLS® this past month, in short time got full price or more.   Sometimes '6 digits dollars' more!

28 North Vancouver homes selling over their MLS® list price received at least 6 digits dollars more.  So far, $252, 000 is the most recorded over the list price for a final selling price $1,450,000.

YTD 2 NV homes in the same neighborhood sold $200,000 plus over their MLS® list price.   

Just how much did willing '6 digit dollars over list price buyers' pay recently in certain neighborhoods?  Check it out:

Blueridge -  $107,000 to $111,000
Canyon Heights - $100,000 to $152,000
Central Lonsdale - $111,000 to $174, 000
Dollarton - $122,000
Edgemont - $110,000 to $252,000
Forest Hills - $128,000 to $153,000
Lynn Valley - $101,200 to $120,000
Pemberton Heights - $121,000 to $125,001
Upper Delbrook - $121,000 to $128,000
Upper Lonsdale - $115,000 to $162,000
Westlynn Terrace - $101,000

For both the seller and the buyer the multiple offer scenario can be extremely stressful.  If you'd like to reduce the stress and get up to speed to improve your odds of winning as a buyer or max on value as a seller I welcome your contact to make it happen:
604.360.1188

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