As expected, there was lots of activity in the Vancouver Real Estate Market in April. The sales to active ratio (or absorption rate) is high at 19% across Vancouver, showing a lot of interested and motivated Buyers. Typically, it’s a Buyer’s Market when the absorption rate is under 15%, a balanced market when it’s between 15 and 20% and a Seller’s Market when it’s above 20%. We have a lot of clients who are waiting to sell their property before purchasing their next, so the more Buyers there are to buy their property, the more movement we’ll see across the board.
Prices have remained fairly steady throughout the city, and should continue as we move through the Spring season. As been the case for a few months now, the really great properties have been selling quickly. The best way to be prepared in this market is to be pre-approved for your mortgage and in contact with your realtor so you know what to expect. We are experienced and quick to help, so give us a call if you need professional guidance.
Let the WeLoveEastVan team know if you’re looking for more information about real estate – whether it’s a showing, a market evaluation report on your current home, or any questions about the real estate process – we’re happy to help!