As the final leaves fall and the brisk, wintry blizzards take over scenic Vancouver, one thing remains a constant hustle; our dynamic real estate sector. As we step into winter of 2023, there are several new housing market trends on the horizon that impact both buyers and sellers. At Team Eviston, as a top-raking realtor group in Vancouver, we understand these trends to provide you with superlative realty advice and service.
Understanding Winter 2023 Real Estate Trends
Traditionally, winter has been considered a dormant period for home sales. The narrative however seems to be evolving this year. Despite inclement weather conditions making house tours challenging, serious buyers are on hunt even during the chilliest months.
In fact, according to reliable sources like The Real Estate Board of Greater Vancouver (REBGV), residential home sales have been forecast to increase this winter compared to previous years. Sellers are taking advantage of steadier prices due to lowered inventory levels in wintertime while buyers benefit from less competition than usual springtime boom.
Impacting Seller's Market
The ongoing global pandemic ushered people into re-evaluating their homes' functionalities which triggered the
and upgrading properties, subsequently pushing supply levels. Sellers are thus poised for an increased potential of high-value deals this winter. With a shortage of inventory during the colder months, buyers tend to quickly hone in on available options. Furthermore, the curb appeal of Vancouver’s real estate is arguably at its pinnacle during winter with snow-capped roofs and enchanting neighbourhood lights.
Impacting Buyer's Market
While sellers have an upper hand due to lower inventories, astute buyers can utilize this seeming disadvantage to their strength. Unlike busier spring and summer seasons, competition is less fierce allowing for more negotiable terms. Moreover, sellers listing properties during winters are often pressed for time and more inclined towards swifter completion of sales transaction - another lever that buyers can exploit.
As mortgage rates continue to remain historically low owing to stimulated economic policies, affordability issue transforms into an enhanced purchasing power for prospective homebuyers.
The Optimism Factor
It's easy to view the robust demand against wintertime low inventories as intimidating. Approach it however from a glass-half-full perspective and we see optimistic scope nestled within these trends. For both buyers and sellers alike, the opportune moment could very well be now!
The Team Eviston Advantage
Accurately navigating market trends requires expertise derived from professional acumen rooted in experience - precisely where Team Eviston steps in convincingly as your ideal Vancouver realtor assistance.
Our team promises knowledge-based support throughout your housing journey so that our clientele stays abreast about changing market ripple effects but also understands how to strategically manoeuvre these shifts positively optimising outcomes.
Our access to premium market information equips us with tools enabling perfect timing for your housing transactions – Be it rushing or delaying listings or purchases based on expected market fluctuations. Giving our clients a detailed overview coupled with exclusive features they would not normally receive through online platforms is central ethos of our service philosophy.
Working With Us
Embracing change is the key to success in dynamic real estate markets. The unprecedented winter 2023 trends certainly call for some realignment of traditional strategies. Yet, for well-informed and optimistically agile buyers and sellers, exciting opportunities await.
Through undulating market ups and downs, Team Eviston ensures steadfast support guiding you expertly forward in your real estate journey. With us at your side, you can confidently make informed choices reaping the benefits the vibrant Vancouver housing market offers this frosty season. Let's conquer winter 2023 together!