Last week two new listings appeared in my Urban Condo list and two units went pending for a net inventory gain of zero. It seems that urban condo buyers aren’t too worried about this pandemic as they are continuing to snatch up condos that are well priced.
This is good news for both buyers and sellers as pricing seems to be flat at a time that we could have seen declines. I have mentioned in other posts, my anecdotal observations are that for every buyer eliminated by the COVID-19 restrictions / economic loss, a seller has decided not to sell. Really the only people getting stung by this pandemic are Realtors® because the market has much lower volume overall so the 2000 or so agents working Clark County have about half as many clients to fight over during this pandemic. But it seems to be equally distributed among the supply side and the demand side and that is keeping pricing stable. If our government continues to extend the severe economic restrictions however, the market will quickly fall apart and sellers will be the biggest victim.
I’d like to keep the good times rolling for all of us so let’s just hope we get this virus under control so we can get back to some semblance or normal.
A new condo came available this week that offers a ground floor unit with dual residential and some commercial possibility as well. There are few of these in Vancouver so contact Rod Sager at 360-737-4600 if you have questions.