Are you wondering how it’s possible that Vancouver condo prices just keep going up and up? Local agent Owen Bigland says it’s all to do with the huge demand and lack of inventory, leading to multiple-bid scenarios with offers over asking – and then agents using comparative pricing on the units that follow.

Speaking on the September 16 edition Real Estate Therapist show on Roundhouse Radio 98.3FM, Bigland explained that there’s an upward spiral effect on prices in a competitive market. He cites a real-life example of a series of condos in the same New Westminster building, each selling for higher than the last over just a few months.

Here's a link to the show where Owen discusses this and other real estate topics: http://bit.ly/2xOEZlj