November 2018 Real Estate Market Update

November 2018 Real Estate Market Update

The November market trends is indicating that we are in to a buyer’s market as the supply has 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 November 2018:

• 3,459 new listings were added this month, which is a 29% decrease compared to last month, and an 16% decrease from last November.
• 1,608 properties were sold this month, which is an 18% decrease compared to October, and a 42 % decrease from last year.
• The ratio in November was 13%, a 2% decrease compared to October, 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.