The Metro Vancouver housing market is seeing Buyers that are less active now – it’s Sellers that are in the market bringing more supply to the market. Although supply is increasing, it has not caught up to the demand. Overall, it is still considered a Sellers market. Condos and townhomes remain firmly in a sellers market, however, single family homes are experiencing downward pressure nearing a buyers market. As a result condos and townhomes prices trend upwards at 16%/20% over last year, while single family detached homes increased 2% over last year. For home sellers to be successful in todays market, it is important to price their property competitively.
