Hello and welcome back.
So the statistics are out for the first two months of our real estate market. No surprises, as we sensed this time last year we were seeing a shift. A shift that was predicted by many but in more drastic terms. The press loved the fact that we were slowing down. Great press. I remember one headline just 3 weeks ago stating - "the market in Vancouver has shown a dramatic collapse". Of course they were speaking about activity. Reading the article much closer they did - I give them credit - admit on the very last line that pricing had not endured such a dramatic shift.
Here in Coal Harbour for instance the "activity" level is down about 30% from the same time in 2012. But the pricing only fluctuated between 3 and 5% - depending on the area/building. Not such a disaster. As stated many times in the past - these corrections manifest themselves in different ways. Sellers are not willing to sell at a percieved bargain and buyers are reading a lot into the predictions and statistics. So we have - yes no other way to scale it - a stand-off.
Buyers are still very active. We have steady calls and requests to view our listings. But the atmosphere is very simple. Unlike past years - there is no panic. I constantly tell my active buyers the same - let's hit the streets and see what the market is offering. If something is absolutely perfect - then we can take action on the listing. Of course with perfection - comes competition. If you find the right place - you will not be alone.
On we go - April/May will be "the" indicator months - if I can use that term - for the 2013 real estate market. We did notice last year, ending about June - the slowdown was well underway. Some of our listings decided to believe otherwise and well - hate to say it - but this movie has played out over and over again. These homes are now sitting on the market - hoping for 2013 to show a bit more promise.
Follow this LINK - for the entire Real Esate Board statistics - released the end of February.
All this to say - once you have read through all the "general" press and heard all the coffee talk - drop by our new office on the seawall in Coal Harbour and have a real chat. What are YOUR needs - YOUR expectations. Its a very simple process. And the best part - even in this economy - its FREE.