📈 Tsawwassen Attached Market Update - October 2023 🏡
As we transitioned into November 2023, the Tsawwassen Attached housing market for October continued to display its resilience and dynamism, with notable trends favouring sellers. Here's a snapshot of the month's key statistics:
🏡 Market Type: Seller's Market
* The market maintained its seller's advantage, with a sales ratio of 23%.
📈 Inventory: On the Rise
* October witnessed an 11% increase in inventory, as the number of active listings climbed from 55 in September to 61. This provided prospective buyers with more options to explore.
📊 Sales Activity: Stable
* Despite the increased inventory, sales remained relatively steady, only dropping slightly from 16 sales in September to 15 in October.
💰 Price Bands: $600,000 to $700,000
* The most active price range in Tsawwassen Attached properties was the $600,000 to $700,000 bracket. Buyers seemed to be particularly keen on homes in this price range.
🏡 Buyer's Sweet Spot: $800,000 to $900,000
* Buyers looking for that ideal balance between value and quality were in luck, as homes priced between $800,000 and $900,000 appeared to offer great opportunities.
💼 Seller's Prime: 2 Bedroom Homes in Tsawwassen North
* Sellers found their best opportunities in the segment of 2 bedroom homes located in Tsawwassen North. These properties seemed to be in high demand.
💰 Negotiation Trends: Bargaining Power
* On average, homes were selling at a 5% discount below their list price, indicating that buyers had some negotiation power in the market.
📆 Days on Market: Decreasing
* The average days on market decreased from 39 days in September to 27 days in October, highlighting the continued pace and competitiveness of the Tsawwassen Attached market.
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In summary, October 2023 proved to be a seller's market in Tsawwassen Attached properties, with growing inventory, stable sales, and favourable opportunities for both buyers and sellers. The dynamics of the market seem to be shifting in response to the needs and preferences of those participating in this vibrant community.
If you're considering buying or selling in Tsawwassen Attached, it's crucial to stay informed and work with a knowledgeable real estate professional who can help you navigate these evolving trends. For a more in-depth understanding of the local market, feel free to reach out to me.
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19 ноя 2023
