Analyzing March Property Market Data for Vancouver and Surrounding Areas

Hey everyone, I’ve been looking at the latest real estate numbers for Vancouver and Metro Vancouver. It’s pretty interesting stuff!

The market seems to be shifting a bit. We’re seeing more homes on the market now compared to a few months ago. This could mean good news for buyers who’ve been waiting for prices to cool off.

I noticed the price per square foot is dropping year over year. This usually happens when we’re moving towards a buyer’s market. There’s a lot of property just sitting there, not selling as fast as before.

For those who’ve been on the fence, now might be a good time to look around. Some folks who were waiting for bigger price drops are getting impatient and jumping in.

One thing to keep in mind - properties that are priced right and in good spots are still selling. But there are quite a few sellers who haven’t adjusted their expectations from the crazy prices of 2021/2022.

I’m especially curious about condos and townhouses in new developments. With all the market changes and new rules about rentals, there might be some deals popping up there.

What do you all think? Anyone noticing similar trends in their neighborhoods?

intresting topic! ive noticed similar trends in my area. prices are def coming down, but slowly. some sellers still think its 2022 lol. condos near me are sittin longer, especially the newer fancy ones. interest rates r killin buyer enthusiasm tho. wondering if well see a big drop soon or just a slow decline?

Great insights, have you seen areas in Vancouver with sharper price reductions? I’m curious how local neighborhoods adjust in this evolving market. What’s your view on interest rates affecting buyer urgency, particularly for condos? Open to your further thoughts.