As we enter what is traditionally the busiest time of year, a general picture of this year’s market is starting to crystallize. The number of transactions continues to be below seasonal norms. The typical cycle is still happening, but with less people on board. Motivated sellers are doing what has to be done to adjust to market conditions and shrewd buyers are capitalizing. Some of this is pricing of course, but there is also a lot more choice for buyers, allowing them the opportunity to secure the perfect fit for their long term needs. This can be much more challenging in a faster paced market, when listings are scarcer, competition from other buyers is stronger, and life changing decisions sometimes need to be made in a matter of minutes.

So what does this all mean if you’re thinking of making a move?

If you’re leaving the market completely and it is for unavoidable reasons, the faster you adjust to the current reality and get ahead of the market the better. This is not a market to dip your toe into.

If you’re leaving the market completely but don’t have a clear time frame, unless you’re selling a luxury condo, my advice would be to wait a little longer and see how things play out.

If you’re entering the market for the first time, these are the most favourable conditions I’ve seen in the city of Vancouver since the late 90’s. This will not last indefinitely. Nothing ever does.

If you’re trading up or down within the market, ie: both selling and buying, it depends a bit on what and where, but it is highly likely that, with the right guide, the conditions right now can work seriously in your favour.

Feel free to reach out anytime if you want to start exploring your options.

All the best,

Duncan