October 2018 Real Estate Market Update

October 2018 Real Estate Market Update

The October market trends is indicating that we are in to a more 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 August 2018:

  • 4,868 new listings were added this month, which is a 7% decrease compared to last month, and an 7% increase from last October.
  • 1,966 properties were sold this month, which is an 24% increase compared to September, and a 35 % decrease from last year.
  • The ratio in October was 15%, a 1% decrease compared to September, and an 18% 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.