May 2018 Real Estate Market Update

May 2018 Real Estate Market Update

The May market trends is indicating that we are shifting in to a more balanced market. The tightening of mortgage rules and an increase in the supply is mainly the reason for this shift in the market. .

Being in balance or buyer’s market create a great opportunity for people who are interested interested to negotiate a better price.

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Let’s take a look at the overall residential activities in Greater Vancouver in May 2018:

  • 6,375 new listings were added this month, which is a 10% increase compared to last month, and a 6% increase from last May.
  • 2,833 properties were sold this month, which is a 10% increase compared to April, and a 35% decrease from last year.
  • The ratio in May was 25%, a 1% decrease compared to April, and a 28% 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.