The real estate market has experienced an increased number of listings recently, but the level of demand has not kept up. This situation indicates that we are currently in a balanced market. In a balanced market, the supply of homes for sale matches the number of buyers in the market, leading to stable prices and reasonable negotiation power for both buyers and sellers.
The influx of new listings suggests that more homeowners are putting their properties on the market, potentially due to various factors such as economic conditions or personal circumstances. However, the demand from buyers has not risen at the same pace.
Home prices have remained steady over the last 4 months, but Sellers may need to price their properties competitively to attract potential buyers. In this market, Buyers have a lot more options and favourable terms when negotiating.
Real Estate Board of Greater Vancouver Stats October
For the full report please download the attachment...rebgv stats pkg oct 2023
Information obtained from the Greater Vancouver Real Estate Board