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Do you want to know the best time to buy real estate in Vancouver? Tired of bidding wars and constant fighting over the condo or house that you really want? Are you wondering if the crazy Vancouver real estate market will ever slow down? Well we have some good news for you! It does every year!
Once if not twice a year the Vancouver real estate market takes a little breather from its active pace. Wondering when these months are? Well firstly, maybe the obvious time of year is the dead of summer, August. August is generally a month of good weather and statistically a month of lower sales activity. Its often a good time to pick up bargains relative to the spring months as properties now sit longer on the market before selling. Typically you can possession of your new home in September or October.
There is one other time of year that statistically looks like a great time to buy real estate in Vancouver. This is maybe the very best time of year to buy real estate in Vancouver, BC, or Burnaby, West or North Vancouver, Coquitlam, Richmond, or New Westminster. Whether you are buying a Vancouver condo, town house or house there usually is a very best time of year to buy a Vancouver property.
We recommend the very best time to buy Vancouver real estate is from November to late December. It is a time of poor and colder weather in addition to nearing the start of Christmas. There are many leftover sellers from the summer and fall months who are still motivated to sell. People who have their homes on the market now are very serious and motivated sellers and are very interested in coming to a sales agreement (not just a seller who is testing the waters to see what the market will bear). This is the slowest time of year for sales activity. This is the time when anxious motivated sellers need not just want offers. This is seasonally a time for higher active listing to sales activity. A good time to find a bargain.
Our informed buyers have saved thousands of dollars purchasing real estate at this time of year since we started recommending this practice back in 1990. There is one catch. You just have to plan to take possession of your new home in late November, December or January .
You can take advantage of these opportunities by simply filling out the quick form below. We will keep you informed of available properties in your choice of area and price range as well as send the very latest new listings 48 hours before they are posted on MLS.CA. You will get to view them while there are still hot off the presses.
Also, conventional mortgage down payments have changed to 20% from 25%, saving potential borrowers thousands of dollars and considerable future CMHC premiums. Non residents of Canada or those with less than two years income from Canadian sources can now purchase Vancouver property with only 25% to 30% down payments down from 30% to 35% down payment amounts. By the way- new lending programs allow for zero as well as 5% down payments for Canadian residents.
If you would like to know more about why this is the best time to buy a home and how exactly this could benefit you greatly then just fill out the form on this page and we will get this information to you promptly! Let us know exactly the type of property you are looking for and when you would like to start looking! |