April 2018 Real Estate Market Update

April 2018 Real Estate Market Update

As we are entering the Summer market, we are noticing a shift in to a more balanced market. There are are still a lot of transactions that are going through and for condos we’re still in a sellers market, but when we closely look at the numbers we recognized that there the prices are staying more steady.

The detached market is still continuing to be a buyer’s market which creates a great opportunity for people who are interested in the houses and are interested to negotiate a better price.

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Let’s take a look at the overall residential activities in Greater Vancouver:

  • 5,809 new listings were added this month, which is a 31% increase compared to last month, and a 19% increase from last April.
  • 2,575properties were sold this month, which is a 3% increase compared to March, and a 27% decrease from last year.
  • The ratio in April was 26%, a 4% decrease compared to March, and a 19% 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.

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If there are any questions that you have about buying or selling a home or you are just looking for some real estate advice, feel free to call me anytime or fill in the form below.