Is The Market Trend Changing?

I'm sure you've already heard the news from the TV, Newspaper, Internet or friends that the Real Estate market has been HOT! Some of your friends have taken advantage of the market and made good profit from buying property last year. Now you want to jump on the band wagon and buy a property to flip and make 30%-40% return by next year. If this is your intentions you might want to think twice. It is hard to predict the trends in the Greater Vancouver Real Estate market because it depends on the global market and variable such as; Canadian Dollar value fluctuation and foreign investors, however we can sense where the market is going short term. We are noticing that there is lots of new listings for single family homes coming to the market and the number of buyers is shrinking. This could be an indication that the market might go sideways during the summer. However, the market is still very active for apartment and townhomes since lots of buyers are forced to think of strata properties given that the price of single family homes are out of their range.

Please see the table above for the price changes of Houses and Apartments in the last few years.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.