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Market Update for 2013

Steady as she goes

The Real Estate market in Vancouver is highly talked about and most people want to know what's happening and everyone wants to know what will happen.  I've read a few different articles (here's one) and have had a few conversations with my esteemed colleagues and the general consensus we will continue to see a balanced market and a subtle increase in prices much like what we experienced last year.  


2013 was a good year in Real Estate in Greater Vancouver.  There was a consistent balance of sales and listings throughout the year.  Home sales greatly improved over 2012.  


The amount of properties sold in 2013 were 12% more than in 2012 and that was with 6% less listings.  That is what helped the market become balanced.  


Overall prices increased an average of 2.1% on the year.  


The largest gains were West Vancouver, Port Moody, Vancouver West and Vancouver East.


Who do you listen to?  There are a lot of mixed messages out there.  Sometimes you don’t get the full picture and because every market can be different from the next you really want information specific to your market and your investment.  If you know of someone looking for a realtor please keep me in mind. 604.782.7545


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