December 2019 Real Estate Market Update

December 2019 Real Estate Market Update

The December market trends is indicating that we are still in a buyer’s market as however for the number of sales has increased and we’re moving towards a more balanced market. Although there was increase in sales the prices continued to go down in particular areas and the purchasers took advantage of this opportunity.

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

• 1,578 new listings were added this month, which is a 47% decrease compared to last month, and a 13% Decrease from last December.
• 2,012 properties were sold this month, which is an 19% decrease compared to November, and an 88 % increase from last year.
• The ratio in December was 23%, with no changes compared to November, and a10% increase 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.