Despite a number of government-led factors designed to cool demand, 2018 was another active year in most Metro Van real estate markets. I can personally attest to this, having had an incredibly active year myself. Particularly up until early November, when the market slowed considerably.
I wouldn't suggest listing your home this late in the year. If you're thinking of selling, however, it wouldn't hurt to be first out of the gate in early 2019. By the third week of January we’ll begin to see stirrings of activity again after the holiday lull. And perhaps with a new year's optimism for buying and selling. As I've discussed before, oftentimes people simply need or want to move, regardless of overall market conditions or perceptions. Listing your home in early February can attract those eager, serious buyers who are keen to buy – because they’re eager to get into a home, and/or want a jump start on other buyers entering the spring market. I already have three listings ready to go for early spring.
The flip side of listing and selling your home early is that you’ll be buying your next home in a marketplace with more choices coming on the market every day as we move into spring. With a sale already booked on your current home, you can act decisively when the perfect next home appears. With your exact sale proceeds known, and financing sorted based on your net proceeds, you'll be in a strong position to make a compelling offer.
2018 was yet another year of change for the Vancouver real estate market. 2019 will no doubt see more change as local, provincial and federal government measures – and no doubt wider world developments – continue to affect and influence buyers and sellers. It's difficult for anyone to accurately predict the true longer-term effects of these measures. You've likely heard a number of conflicting theories and predictions in just the past couple of weeks. For every pundit sure values and volume will decrease through 2019, another one or two maintain price declines will level off. Suffice to say, I'll be here to help you successfully navigate our changing real estate landscape. Thinking of selling or buying in 2019? Contact me anytime any time to discuss the right strategies for your situation. Get the experience that comes with 17 years – and more than 600 homes sold! – working for you.
To all my clients, friends, family and colleagues - A heartfelt thank you for your continued support this past year. All the best to you and yours, and may 2019 bring you much happiness, good health, peace and joy.