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?