Know Market Trends before Buying Real Estate

The Vancouver real estate market isn’t exactly moving at a predictable pace. For one, the latest surveys seem to suggest a new trend favoring a seller’s market for the rest of 2014.

Real estate agents in the city have announced that current market conditions seem to favor sellers, rather than buyers, thanks to data they’ve gathered last month. The numbers say that the sales-to-active-listings ratio in Greater Vancouver is currently at 19.7 percent, about 4 percent higher than last year’s figures.

Fortunately, experts still call the market pretty “balanced” as far as sales-to-active-listings ratio goes, because it needs to be below 15 percent to favor buyers or above 20 percent to favor sellers. That said, this is just one factor that has a direct influence on real estate prices in Vancouver. Therefore, it pays for buyers and sellers alike to be aware of current events before they work with reliable real estate services in the area. After all, a seller’s market for the rest of the year is just a possibility, not a certainty.

Prices for real estate in Vancouver, B.C. can also be affected by demographics. For example, if a certain city has a larger proportion of retirees rather than young people, then it is likely that that location has a greater demand for affordable houses and vacation homes, rather than high-rise condos.