JULY 2010 Condo Market Update (Downtown & West Side) with Jay McInnes
July 2010 Downtown & Westside Vancouver Condo Market update with Jay McInnes PDF
July has re-confirmed the Buyers market that is ahead of us. As you can see from the chartabove, the number of Listings have continued to diminish. Sales have also been on a slowdecline. With both ends of the scale on the decline & interest rates staying low we are seeing more and more opportunities for Buyers in the city.The Sellers that actually need to sell have been forced to price their properties sharply & attractively to get the attention needed. I am also seeing more and more the properties with less motivation to sell getting pulled off & rented.
All in all I believe this market trend is going to continue throughout the rest of the summer and into the typically slow months of winter. Depending what interest rates do, the market is going to stay a Buyers market for some time. There is nothing in the forscene future that will change the course of this current market trend. Buyers still have large numbers of inventory to choose from and what seems to be “all the time in the world” to make that decision to purchase.
For any further information on the current market and any further detail in general please don’t hesitate to contact me direct or have your clients contact me direct at any time.