The market activity here in Vancouver is heating up! Well the entry level market that is... We have segregated the entry level of the market into three different pricing tiers:
tier 1 - $0.00 - $500k
tier 2 - $501k - $750k
tier 3 - $751k - $1 million
In the first two pricing tiers we are seeing a lot of activity picking up within the this first month or 2019! Our own open houses & others throughout the downtown vancouver core are all experiencing much stronger open house traffic numbers so far this year. Much more in fact than the last few months of 2018!
This may be due to a few different reasons:
- The market believes things have softened enough to begin searching and attempting to negotiate on current prices.
- The market believe the interest rates will rise (even though RBC lowered rates yesterday & the rest of the big banks are expected to follow).
- The market is showing a lot of active listings making another strong case for the current buyers market and the leverage buyers have in negotiation with so many competing listings.
This falls inline with our prior prediction that the market would continue to flatten throughout the end of 2018 and into 2019 (spring we quoted) and then stay balanced throughout 2019. I believe this is the market picking up activity wise, bringing us back up to MORE normal levels, however I do not yet believe this pick up in activity will raise prices.. But of course only time will tell and NO ONE has a crystal ball...
Until next week, feel free to contact us at your convenience and happy investing!
-- -- --
Jay McInnes
604-771-4606
[email protected]
Ben Robinson
604--353-8523
[email protected]
✅⬇️✅ FOLLOW US ONLINE HERE✅⬇️✅
Website - http://www.McInnesMarketing.com
Facebook - https://www.facebook.com/mcinnesmarketing
Instagram - https://www.instagram.com/iamjaymcinnes
Instagram - https://www.instagram.com/realbenjaminrobinson
Linkedin - https://www.linkedin.com/in/jaymcinnes/
Twitter - https://twitter.com/jaymcinnes
Podcast - https://itunes.apple.com/ca/podcast/vancouver-real-estate-audio-experience/id1350616119?mt=2