While you’ll find news abound that the Vancouver Real Estate market has cooled or that prices are off; these are generalizations. Certain areas of our market are seeing less activity for certain but that is definitely not true of the market as a whole.
The truth is there is opportunity in every market. Just need to know where to find it and whether you’re in position to take advantage. Fact it, this could very well be the best market ever for you to be selling and buying!
If you’re reading this and are feeling a little crammed in your 1 bedroom Vancouver condo… this is an amazing market!
If you’re reading this and have been considering selling your place in favour of something newer, shinier and in a higher price range… this is an amazing market!
If you’re reading this and always dreamed of getting your own piece of dirt in Vancouver but the detached housing market has been out of reach… this could be an amazing market for you!
Take a look at these sales stats from the past two weeks:
Ok so now you know the condo market in Van is hot. So where is the opportunity within the market?
As noted above, if you currently own a 1 bedroom condo in Vancouver you're in the hottest market in one of the hottest markets in the city. Check this out courtesy of my friends at SnapStats based on the month of January:
Anything above 20% your looking at Sellers Market conditions. At that point 1 in 5 homes on the market are selling every month.
You can see here that the 0-1 bedroom product on the market is moving at a very good clip. Less inventory and more demand here than anywhere else. Therefor if you’re the owner of a 1 bedroom Vancouver condo in need of something bigger… this is your market!
How about if you have a great condo or townhouse but wanted to get into a home on your own piece of land within the city?
Based on the REBGV January Stats for East Van and Westside Van we know:
Therefore, if you’ve ever wanted to ditch the condo/townhouse and stretch to buy a house there may not have been a better time than now.
There’s always opportunity out there. As always, just need to know where you're looking!