Activity in the Vancouver real estate market has picked up quite a bit when compared to 2023. In February we saw more listings come to market however we also saw much more sales which means we are still yearning for more inventory.

Multiple Offers

Some buyers are finding themselves in competing situations. This is common in any market. The most attractive and well priced properties will always attract the majority of buyers. A couple of tips for you, try not to confuse the asking price for the actual value of the property. A seller can theoretically put their property on the market for any price they choose meaning they might decide to under value their property in order to generate multiple offers which will likely result in a sale over the asking price. Conversely some sellers over value their property but are willing to negotiate down. It's good practice to make sure you see any property of interest in person as soon as it is listed or as soon as you can. By doing this, if the seller has an offer date, you'll have a longer runway to conduct your due diligence which will help you to make a stronger offer putting you ahead of your competition. 

Early Preparation

That said, if you're planning on purchasing a property this year please prepare. yourself early. Hire a realtor right away, get to know one another and build the relationship. Things move fast when it comes time to put an offer in so you need to know what its like to work with one another, have the best strategy in place and have built some trust. If you're planning on selling in 2024, same as above, hire a realtor now. Take the time to understand your local market, prepare you home for market and talk strategy.


If you think you'd benefit from a conversation to learn about your local market and put a plan in place feel free to reach out.Ways to connect:

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