How Long Will it Take to Sell my Vancouver Condo?

How long does it take to sell in the Vancouver real estate market these days? That’s a question that should be on the mind of not only people looking to sell, but also those looking to buy property in Vancouver.

When selling, this is information that’s critical to know. It’s important that you adjust your expectations…and your price based upon what is happening in the market. If properties are selling very quickly, then you should expect your own property to do the same (all other factors being equal).

Of course, in today’s Vancouver real estate market homes are no longer selling quickly. As we all know, Vancouver real estate is now a buyer’s market (you can follow the Vancouver real estate market statistics here).

The chart below gives us a clear visual representation of just how slow the market has become. This chart lists the Months of Inventory (MOI) for 2008 (to date) of condominiums (not houses) in specific Vancouver communities. In order to arrive at the MOI, we take the number of active listings and divide it by the number of sales in that month.

Why homes don’t sell in Vancouver is a question not easily answered. However, in this market a home must be priced aggressively in order to sell…so that your home doesn’t languish on the market.

If you are thinking of buying or selling, or just have questions, contact me here or send me a quick email.

More Information on Vancouver Real Estate

Enjoy Vancouver real estate statistics? You can find all of the latest stats by area right here: