Welcome back. The Vancouver Real Estate market continues it's trend setting pace of - not setting any trends. One of these of course has been the lessening of the fire we endured in years past. Some are just now - within the last 12 months - calling our market "soft", "balanced", "cooled" and of course, those who have called for a bubble to burst (for the last 5 years) are - well, still calling for the bubble to burst. We started to see this adjustment about 24 months ago - as slow and steady as it was. Not to say things are not selling. Acitivty is down on some fronts - the luxury market has poetential buyers in no rush but we are still getting calls and plenty of viewings. New atmosphere ? Sure enough. "We are in no hurry" is the quote of the day.
Good example that buyers are still out there and taking a much less paniced approach to a purchase. We just had a sale on the Coal Harbour waterfront - with a home listed almost a year - to the day. Took a while but like eveything - when the stars align on both sides - tranasctions are happening. The hottest range is under $500,000 in the downtown core areas. Rental rates have climbed back up and with the combination of good inventory and lots to choose from - buyers are taking great advantage on historic mortgage rates and getting into their first homes.
May will tell the tale this year - as far as an official spring market. Those numbers will be interesting.
Contact me anytime for a chat on YOUR needs - statistics are fine but as I continue to state - Vancouver has several "micro-markets" within blocks of each other and the times - yes - they are a changin'....
Ensure you employ a realtor - who keeps up with the times.