Market Minute - September 2018

Buyers across the Lower Mainland are taking a “wait-and-see” approach, opting to sit on the sidelines as prices throughout most local regions are either falling or flattening.

This is also true on the Sunshine Coast. Despite having the lowest benchmark price in the Lower Mainland, buyers are no longer rushing to the Coast to buy a comparatively affordable home. September’s increase in interest rates combined with the belief that further price drops could be coming are giving these buyers reason to pause.

The market will eventually adapt to the new reality of stricter mortgage qualification rules but until that happens, expect to see more of what we’ve experienced throughout most of 2018 – an oversupply of sellers and a lack of motivated buyers.

Now more than ever, it’s critical that sellers price their home correctly and market it aggressively. If you’re not already working with a professional to sell your home, ask me about my proven system designed to get the best price possible in any market.

Tony Browton -
Personal Real Estate Corporation
Re/Max City Realty (Gibsons)
Phone: 604-886-3760
Mobile: 604-418-2695
Fax: 604-886-3760
Toll Free: 1-800-986-2670