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May 2015 was an interesting month in both the Vancouver West Side Housing Market & the West Side & Downtown Vancouver Condo Markets. below you will find the Vancouver Real Estate Market Update for May 2015.

Vancouver West Side Housing Market Update:

The Vancouver West Side Housing Market has seen a continued inventory reduction since the beginning of the year, as seen in this chart from the Real estate Board of Greater Vancouver. For this reason, the beginning of the year had a very strong start with activity picking up at almost the same pace as inventory levels fell. Since March however the sales numbers in this market have balanced out while inventory has continued to fall. This has created a cooling of the West Side Housing Market compared to levels at the beginning of the year. My thought on the following months is that the inventory numbers will begin to balance out while sales numbers continue to sustain current levels into the Fall months.

Vancouver West Side & Downtown Condo market Update:

The Condo Market has continued to grow its inventory numbers since the beginning of the year. Sales numbers hit a plateau in March & have sustained with only a slight adjustment down since then. As usual in a heated market, the expectations of Sellers gets inflated very quickly. This usually translates into over-priced listings being offered to market. If these units are in good shape & in reputable buildings then this environment can work. However it will not work for everyone, & the market is beginning to reflect that. There are currently a large number of over valued & un-justified prices out there. My thoughts are that inventory will continue to increase into the Fall Months & sales numbers will sustain current levels.

For any further information on Buying or Selling Vancouver Real Estate on the West Side of Vancouver or Downtown Vancouver please contact me direct at [email protected] | 604.771.4606.

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