When the March stats were released last week, there was a lot of doom & gloom around the difference in number of sales versus a year ago. In fact I was contacted by Buyers thinking there must be some deals.
Unfortunately no. What those stats didn't tell readers was that we're actually in a Sellers' market in many areas of Vancouver. Both East & Westside Vancouver, North Van & Richmond all showed sales that were 30-58% of listings available. The few areas that weren't a Sellers' market were balanced markets at around 20% of listings selling.
Very different information for Buyers & Sellers. If they read the headlines, they could assume it's not worth listing their homes & for Buyers, deals must be available.
What's more important-the stats or current & local information? I think we all know the answer & an experienced realtor will know the stats that matter.