As we head towards Christmas, the housing market in Greater Vancouver is starting to slow for all property types. There are less buyers out there, less competition, and more options to choose from. It is a great time to buy, especially if you’re trying to make the jump from a condo to a house/townhouse!
According to REBGV, “The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales totalled 1,608 in the region in November 2018, a 42.5 per cent decrease from the 2,795 sales recorded in November 2017, and an 18.2 per cent decrease compared to October 2018 when 1,966 homes sold.” Compared to last November, the market has significantly cooled down. This can be attributed to a variety of reasons including the increasing interest rates, and new housing taxes being introduced/have already been introduced.
Call us today to chat about the market and your current options!
Click the link here for more market information, and to download the stats package for November!