After last years sudden switch from a Seller’s Market to a Buyer’s Market, things are finally starting to even out. Last month, May 2009, we saw a total of 3,524 recorded sales in Greater Vancouver. Comparing this to the 3,002 recorded a year ago, we can see that buyers have finally emerged. If you are a perspective buyer, now is the time to get into the market and find your new home, before prices rise and the market becomes more and more competitive. We are already starting to see multiple offers and increasing list prices. Since the beginning of 2009, benchmark prices have already gone up 4.5% in Greater Vancouver.
This is an exciting time for both buyers and sellers. If you are looking to buy, it is time to take advantage of reduced prices, and if you are looking to sell, start preparing your home because the wait for the end of this drought is over.
Statistics from Real Estate Board of Greater