May Sees 38% Increase In Vancouver Real Estate Listings On 2017
It came as a shock to many when the Real Estate Board of Greater Vancouver reported that the number of properties for sale in May rose 38%, compared to May 2017 and 15% month-on-month.
What This Means For Buyers
It appears that the reason for the increase in available stock, is not that more people are selling, but rather that fewer properties are being bought. May 2018 experienced a drop in real estate sales compared to both April 2018 and May 2017.
While more available stock is a good thing for buyers, the city’s market does not yet favour buyers as property prices are still on the rise.
What This Means For Sellers
The fact that property prices are still on the rise, is great for those considering selling real estate in Vancouver, however the slow in sales could raise some questions.
The drop in the number of property sales closing could just be due to seasonality, like the fact that it’s the new tax year, or perhaps it is due to other factors. Perhaps those selling property are expecting it to get snapped up and are therefore putting less effort into the sale. Perhaps fewer people with the funds to buy property are in the the area, or perhaps sale transfers are getting delayed due to incomplete paperwork.
Ready To Take Your Next Step In Vancouver’s Property Market?
Whether you’re buying or selling, our experienced real estate notary public and lawyer can help you make your next move in this ever-changing market.
When you’re looking to sell your home or property, our real estate lawyer and notary can make sure there are no delays during conveyancing, title transfers or mortgage refinances.
If you’re a first time buyer, or an experienced buyer expanding your property empire, call our real estate notary public and lawyer to make sure your transaction goes ahead without delay.