The February market trends is indicating that we are in to a buyer’s market as the supply has dramatically increased.
Being in buyer’s market create a great opportunity for people who are interested interested to negotiate a better price and provides more options to buyers.
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Let’s take a look at the residential activities in Greater Vancouver in January:
3890 new listings were added this month, which is a 20% decrease compared to last month, and an 8% decrease from last February.
1,476 properties were sold this month, which is an 34% Increase compared to January, and a 33 % decrease from last year.
The ratio in February was 13%, a 3% decrease compared to January, and a 15% decrease from last year.
Understanding the market trends and the market types (Buyer’s market, Seller’s market, and balanced market) are the two key factors to consider before a real estate transaction. Knowing when to sell, buy, or more importantly, knowing when to hold all actions for the right moment, can make the biggest investment of your life the most profitable one.
Vivid Real Estate market report will provide you with all these market types and much more, allowing you to make an informed decision about the next steps you could take in the real estate market.
Wondering if now is a good time to buy or sell?
Contact me today to get more information on the market situation, and let me help you determine the best call of action.
