July 2018 Real Estate Market Update

July 2018 Real Estate Market Update

The July market trends is indicating that we are shifting in to a more balanced and buyer’s market as the supply has increased.

Being in balance or 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 overall residential activities in Greater Vancouver in May 2018:

• 4756 new listings were added this month, which is a 9% decrease compared to last month, and an 9% decrease from last July.
• 2,065 properties were sold this month, which is a 15% decrease compared to June, and a 30% decrease from last year.
• The ratio in May was 17%, a 3% decrease compared to June, 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.