The numbers are in for February, and things are picking up! As we head into what is typically the busiest time of year – the Springtime rush – we are already seeing increased activity in the market from a daily hustle and bustle perspective. That being said, sales are down 32.8% compared to February 2018, a result of buyers being particularly cautious. We expect March’s stats will show increased sales activity, as we’ve noticed that the newer listings are priced more appropriately for the market at hand.
Here’s a look at your Market update for Vancouver West, Vancouver East, and the attached market Downtown.
Downtown – Attached
We remain in a strong buyer’s market, one that is predicted to continue throughout 2019. While the Bank of Canada has left the key interest rate at 1.75% since October 2018, we urge motivated purchasers to act now. Often in slumped markets, consumers act almost too cautiously in “waiting for the bottom.” Most will miss the bottom and get in when the market is on the way back up. Now is the time to be actively searching and putting in offers while you can still get a deal.
Give me a call at 778-889-7355 with any questions, concerns, or let me know how I can service your real estate needs!