Fall Inventory and the Vancouver Real Estate Market

21.08.2015

Buying or Selling a Home in Vancouver this Fall

Autumn is coming and that means big things for the Vancouver Real Estate Market. It’s still quite a ways away, but you can start to feel a slight chill in the air at night, the back to school commercials and sales are in full swing and people are planning a great labour day weekend.

For those people who have been looking for a new home, whether that’s a condo townhouse or detached house, this past summer, I’m sure you’re noticed the lack of inventory and the high number of multiple offers and quick sales for some of the . You have to view a property the first weekend it has been listed, otherwise there was a high likelihood that it would be sold by the next week. It can be tough for Buyers, but don’t be dismayed! August and December are the slowest months in real estate every year. The numbers show that inventory increases every September as people get back into a routine lifestyle.

Looking to Sell?

Unfortunately, inventory numbers in Vancouver have been dropping year over year, but an increase in the number of listings for sale is just about guaranteed in September. We here at WeLoveEastVan have a number of listings that will be listed in September. If you own a home and have been thinking about upsizing, downsizing or moving cities, contact us or inquire about a Home Evaluation. We can help you prepare your house for sale, find suitable Buyers and ensure you are prepared for your next move.

Looking to Buy?

If you’re looking to buy a home, take the following pieces of advice to heart.

(1) Buying a home often takes a few months of searching, viewing properties, and an evolving list of wants and needs after seeing, in person, what’s on the market and what’s realistic given your budget. The more homes you view, the better sense you’ll have of what’s truly important to you: location, exposure, quality of finishings, size of unit, etc. That way, you’ll know when a good property hits the market.

(2) Start working with a real estate agent. We’re professionals – at product knowledge, negotiation tactics, contract writing, and the in’s and out’s of home ownership. We’ll make sure you find a great property given your preferences and price. Remember, you don’t have to pay us, and the trusting relationship we strive to build with our clients goes a long way in ensuring a successful sale for you. If you’re still hesitant, check out our Home Buyer’s Guide, and sign up for a Custom MLS Search to make that search process much easier.

(3) Speak with a Mortgage Broker to get your finances in order, to start dealing with any hiccups before they become real issues and to ensure you understand your affordability and how different mortgages terms can affect your future. Yet again, you don’t have to pay your mortgage broker, and they are working in your best interest. Contact one of our preferred mortgage brokers.

 

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