Did the rising cost of Vancouver real estate scare you off from trying to buy property? I admit this year’s market has been crazy! Vancouver house prices sky rocketed in the Spring and only buyers that were willing to purchase significantly above asking price had a chance of getting their offer accepted.
Well things have changed in the Buyers’ favor.
The market has cooled down particularly in Vancouver and Burnaby. There is more inventory on the market, and the buying frenzy that existed in the first half of this year is not so evident now.
If you are a buyer that has been pushed out of the market, now is your chance to get in.
House prices in Vancouver and Burnaby have dropped from 100K – 200K in some areas. And there are still very good properties that you can buy in Coquitlam, Port Moody, and New West between 700K- 1M. Condos and Townhouses are still affordable and can be purchased at asking price instead of over asking.
I urge anyone that is sitting on the fence to buy now before 2017. Typically prices rise after homeowners receive their new year’s property tax assessments.