In contrast to the statistics for the entire region showcasing a movement into a pronounced buyer’s market, the west and east side of Vancouver have demonstrated a somewhat spotting transition into the fall. While well priced properties continue to drive the market forward, some properties continue to linger. This lingering effect has not yet produced an oversupply but has punctuated Buyer’s reluctance to jump in without careful consideration.
We would normally expect the conditions at this time to be akin to the spring, where activity levels jump and overall market excitement begins to peek. Certainly, the single family category continues to realize strong appeal, and it’s not uncommon to see multiple offers. The condo market, mind you, is more tempered. As we move into the full swing of the fall market, balance and price sensitivity will likely be recurring themes as the global economy begins to gain strength again.
If you or someone you know is contemplating entering the market as a Buyer or Seller, call 604.612.6120 today! The best outcome is determined not by luck, but by well executed planning, I'll be honoured to help.