December 2009 Vancouver Real Estate Market Update by Jay McInnes
December 2009 Market Update:
December 2009 was a very busy December!
Compared to 2008, in 2009 Listings were down 46% & Sales up 208% (MLS Board Stats). This is proof again that confidence is back at peak in the Vancouver Real Estate. My opinion is that due to the olympics in February, this has carried the activity through the typically slow seasons of Fall & Winter ('09) and into the new year ('10). Additionaly while interest rates are at record lows & H.S.T is set for July 1, the public feel that now is a great time to buy before possible changes.
Supply & demand is playing a large part in the Downtown Vancouver market as there is still a lack of quality inventory in general. I have noticed a lot of Sellers anxious to list quickly in 2010 with this lack of inventory as there is possible opportunity to capitalize.
I believe 2010 will be a positive year in Real Estate in general. We should expect a possible soft spot following the implementation of H.S.T in July for an adjustment period. All other things considered it looks as if it will be a positive year in the vancouver Real Estate market.
For any questions on the Vancouver real Estate Market please don't hesitate to contact me direct at any time at firstname.lastname@example.org / 604 771 4606