Strong Demand For Certain Condo Types
Buyers are asking me lately if I see softness in the prices of condos in Yaletown and Downtown.
My answer is that for certain condos in younger buildings that are well located, the prices are actually rising. For example, the last two deals where I represented the Buyer, one of them had 7 offers and sold for over list price, and the other one had 3 offers and also sold for over list price. This tells me that informed Buyers are focused on quality properties and are willing in many cases to pay over list price.