The numbers for August home sales in Metro Vancouver won’t come out for another two weeks, but realtors in the market admit this month has been a little slower than usual.
Aaron Jasper works primarily in Vancouver and has seen some deals at lower prices for detached homes, condos, and townhouses, and even with subject clauses.
“The thing we’re seeing now is sellers are listing their properties more in line with what they think or have been advised is fair market value.”
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However, Jasper is cautioning that there seems to be a flood of jilted prospective buyers on the sidelines who won’t be waiting much longer when the busy months of September and October arrive.
“I have several buyers in the Vancouver area primarily who are looking for condos and houses who are out there quite aggressively right now. I think there’s an anticipation that if we can find the right property right now with the lull in activity, then it’s definitely a good time to buy.”
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Jasper says those types of deals may not last long.
“If you are looking to buy, get out there, because it does seem to be a bit of a window. A few more weeks of an opportunity to come in and not be competing with lots of other people.”
Numbers from the REBGV show single family homes in the first two weeks dropped by 66% compared to last August.
On August 2nd, the province imposed a new 15% tax of foreign buyers, in a bid to cool the region’s super-heated real estate market.