It’s been an interesting spring in the Vancouver market so far. The overall picture is one of a fairly balanced market with steady sales volume and stable prices. That in itself is refreshing and unusual for Vancouver!

On closer inspection it becomes a bit more confusing, as tiny pockets of the market seem to be hot one minute then cool the next. Overriding uncertainty around the economy, and where interest rates might go next, may be partially to blame. When rates stabilized at the beginning of the year there was a bump in sales and the same will likely happen if/when the first rate cut happens. However, I would be surprised to see a significant shift in prices in the second half of 2024 unless there is a series of rate cuts, which seems unlikely at this point.

So, while a considered approach is essential, making a move now while this rare period of relative balance exists in the market, has a lot of benefits especially if you are both selling and buying. 

All the best, 

Duncan