You've heard before that real estate is local. National news concerning the real estate market may or may not reflect what's going on here in Vancouver BC.
But what you may not have heard is that the market can be different from one part of town to another, and even can even be different in two very similar subdivisions. That's because supply and demand affect price – and some neighborhoods are simply more desirable to a greater number of home buyers.
Supply and demand changes between price categories. It also changes depending upon factors such as how many vacant homes are in a neighborhood and how the residents care for their exterior spaces. Large percentages of bank-owned homes almost always deflate prices.
Another factor that influences price is location with relation to jobs, shopping, recreation, medical care, and schools. When one school district has a better reputation, parents will pay more for a home in order to send their children to school in that district.
When you're getting ready to buy or sell, go ahead and look at the listings online. They'll give you a starting point and a rough idea of what homes are going for here in Greater Vancouver
Then when you're ready to take action, call me. I'll be glad to give you more specific information that pertains to the neighborhood you live in – or want to live in.