I hope you are all well and getting out there enjoying the festive season having people around for fun evenings, going out to parties, concerts, events and much more. I am having to get an extra aerobics session in during this time to counteract the extra calories that are impossible to avoid. I just don't have a military trained abstinence when it comes to festive fair. And so what. I am sure so many of you feel the same. Just enjoy it and deal with it later.
It has been a very interesting year in the real estate markets of greater Vancouver. The detached housing markets, especially on the north shore and the west side have been enjoying a buoyant period with plenty of activity and healthy returns on listings. However, the condo has been notably flat for almost two years now where sales have slowed down and prices have softened. It has been a great time to buy and still is for the most part. However we are beginning to see the market fast become a balanced one and now moving towards a seller's one as listing drop off due to expired listings and sales. All signs are pointing towards a sellers market fast approaching in the spring.
So if you want to take advantage of a flat market, great borrowing rates, help with the deposit, no more renting, sitting on the fence, do it now. This is still a great time to buy somewhere in Vancouver and get in there before it becomes a sellers market with less to choose from, price increases and multiple offers. If you have a place to sell, the spring market looks like a great place to get things started as inventory drops and we watch things return to a sellers market. Busy times ahead!
Have a great holiday season and see you all soon.
Cheers
Gerry
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