Daily Market Update

by REP27 Feb 2015
Bidding wars for homes in Greater Vancouver area
Vancouver's real estate market appears to be heating up again, but this time real estate agents say the bidding wars are spreading to the suburbs as well. 

According to CBC.ca, real estate agent Nicola Campbell, who specializes in home sales on the North Shore, said this year's market is the busiest she's ever seen. Last month, there were 50 listings in North Vancouver for under $1.2 million. Of those, 44 sold, and most within eight days, she noted. Campbell said its a complete turn around compared to a year ago, when there were more than twice as many listings, but fewer sales. "I haven't seen anything like this in North Vancouver," said Campbell. In January 2014, there were 113 listings in the same price range but only 32 sold. "It's very atypical for the markets. So normally what we see is a slowdown in December and then a slow ramp up in in January," she said.

Realtor strips to sell homes
And while others bid, one Realtor has taken a different approach to selling. Adopting the 'sex sells' approach, Bellarine property agent Levi Turner has switched his suit and tie for swimmers in a bizarre bid to score a deal. 

According to Yahoo.ca, the stripping down sales strategy has, so far, proven to be a hit. A promotional video, in which Turner shows off his chiseled torso as he attempts to entice potential buyers, has been viewed hundreds of times online and the property has attracted widespread interest.

The clip shows a birds eye view of Mr Turner as he sprints shirtless from the Barwon River to the back deck of the house he is trying to market. It is just another way that realtors are getting creative when selling homes.

MoneySense: What type of real estate market is this? 
In an article on MoneySense.ca, a breakdown of sales-to-listing ratios are analyzed across the country and provides useful advice for realtors. Read full story here

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