There has been a strong focus lately in both traditional and social media on high inventory levels and slower turnover/sales volume. Areas most affected are those where there has been a lot of new construction in recent years. As a result, the city of Vancouver itself outside the Downtown core, continues to perform better than most. In addition, most sellers in the city itself are not as heavily leveraged, having larger down payments originally and/or significant equity in their properties, so their need to sell under distress is less common.

That said, even though prices are stable, this is without question a buyer’s market. The amount of choice available, time to make a decision, lack of pressure from competing buyers, and opportunity to buy homes that in any other market might be close to impossible, are all creating the best conditions to buy here that I have seen since the late 90s. We are now approaching summer and the spring market still hasn’t sprung, so when and what the catalyst will be that turns things around remains to be seen. But it WILL happen! So you can either wait until it has (probably smart if you are selling to leave the market for good) or take advantage of the lull (if you are entering or moving within the market).

If you’d like to chat about how you and your property/needs fit into all this specifically, let’s find a time to get together to chat about it all. I will always find time to listen to your plans and give you my honest informed advice on how to best navigate this current chapter in Vancouver’s story!

All the best,

Duncan