New West condo's selling on average 5% above list price in April

New Westminster’s condo and townhouse real estate market saw a decrease in sales but prices continued to edge up in April. Home inventory is increasing but well priced homes are still often selling in competition well above asking price. The Downtown neighbourhood saw the most activity in April.  

Here’s the breakdown for condo’s & town homes in New West in April:

Overall a strong Sellers market at *69% list to sales ratio, a 6.9 out of 10 home selling rate. 
  The most active price range was for homes priced between $300k-$400K.
Homes are selling on average 5% above list price (up from 4%)
Buyer’s Best Bet: Homes between $900K to $1M, Sapperton and 3 bedroom properties.
Seller’s Best Bet: Selling Homes Downtown and up to 1 bedroom properties.

In April this year inventory rose to its highest level since last September, sales decreased, and benchmark prices crept up slightly. 

Any Q's or more specific information needed on a particular neighbourhood please contact us. We're here to help!

*Buyer’s Market 1-11%, Balanced Market 12-20%, Seller’s Market 21% and up

All stats derived from Dean Wegman & SnapStats.