Vancouver's Real Estate market has been hot so far in 2017. Not the type of "hot" that most expected, experts and Real Estate professionals where expecting a more balanced market especially after the Foreign Buyers Tax really slowed everything down in September 2016.
The two major factors that drive any Real Estate market have kept home prices high and still largely in demand. Interest rates have stayed low and seem to continue to stay low which help buyers manage a higher buying potential. Inventory has been historically low in 2017 which has really help sellers ask for a selling price buyers are still willing to pay. The demand is still high and the inventory is very low.
Some market seem to be out performing others and certain types of homes seem to sell quicker then others. Over all, its a great time to sell a home.
The Spring market has just began and typically more homes tend to go up for sale during the Spring and early Summer. This will be a welcome change to many buyers who are waiting on the sidelines to purchase a home.
Here are some recent stats provided by the Real Estate Board of Greater Vancouver.
For more detailed information on your specific neighborhood or if your considering to sell your home please contact me at your convenience. 604-726-3257