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Vancouver real estate; listings up, sales down
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by mtippett | July 3, 2008 at 12:41 pm
546 views | 7 Recommendations | 2 comments
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The number of apartments and homes listed for sale in Vancouver is skyrocketing while the number of sales is down dramatically. With these fundamentals it is likely only a matter of time before prices start dropping.
The Spring selling season has come to an end, and it appears a dramatic change in our local real estate climate has occurred. No longer a sellers market, the terms "balanced market" and "buyers market" are now common place among home buyers and sellers. Now more than ever when selling a home it is important to be competitively priced amongst the competition and market your home from a variety of different angles.
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mtippett
Vancouver, Canada
Most RecentMost Recommended Comments (2)
at 20:51 on July 3rd, 2008
mtippett, I like this story. It's good stuff. What's that I hear? Why it sounds like the neigbourhood taking a dump . Why anyone would pay $800,000 for a 2 bedroom 1200 square foot apartment,certainly are true to "a fool and his money are soon parted"
at 09:48 on November 2nd, 2008
Mtippett, I like this story. It's good stuff. Yes, I keep hearing that it's a Buyer's Market out there .... but considering that the Vancouver Housing Market has been grossly overpriced for about a decade and half now, it is still way out of the range of most average buyers -- especially First Time Buyers! This is why so many folks are moving to places in the Fraser Valley, like Abbotsford, Chilliwack, Langley and Surrey! Even those places have seen a slight drop in house sales -- but they are fairing much better as the difference in house prices can be quite substantial.