Capitalizing on Vancouver’s Real Estate Market: It’s Not All Bad

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Written on November 8th, 2016


November and December, in my opinion, are great months to buy a new home in our city.  One key factor is that there is less competition as many people tend to put off large decisions until the new year which can result in less multiple offers to compete with the purchase.

An article in Forbes noted that “the idea that houses don’t sell in November and December comes from outdated historical trends.  In fact, several studies show that, on average, homes listed during this time are more likely to sell, sell more quickly, and sell closer to the asking price.”

Of course, we all believe our market is completely different and to some degree, it is.  Regardless of the variables involved, if you simply listen to the negative news then the fear will persist.  Fewer homes on the market due to this fear will also make this season a good time for those selling their homes.  Buyers will be looking online (or come to an open house) and your home would more likely be viewed due to less inventory existing on the real estate sites.

Motivated buyers will not let the dreary weather curb their quest to find the right home. Those that are searching during this time may have time constraints that would lead to a faster decision process and lead them to pay close to asking price if it is the right place for them. Sellers too can find themselves in a situation that could make them need to sell out of necessity, therefore an amenable agreement between buyer and seller is plausible.