August '10 Downtown & West Side Vancouver Real Estate Market Report By Jay McInnes
August has continued to benefit Buyers in Vancouver. With interest rates stationary and a slowly diminishing inventory, it is still a great time to test the markets flexibility.
The up side to this market is that Buyers can purchase a property for the reasons they want to & not because they feel they have to. Gone are the days that Buyers feel forced to purchase TODAY because it might cost them more next month. When fear no longer motivatesBuyers & Sellers you know you have entered into a balanced market. This balanced market will cool of listing prices and bring that much needed flexibility back to the Vancouver Real Estate Market.
The down side to this current market is if you are a Seller wanting to get out of the market after only being in for lest that 5 years. This group may struggle to see the reality of the direction of their investment & be forced to hold.
For more specific market numbers for certain areas, buildings etc please contact me direct at your convenience.