San Jose, California (PressExposure) March 14, 2011 -- Vancouver's real estate is going through an icy patch with the mortgage laws and high prices of the local homes. However, in the surrounding communities are experiencing price reductions. This is a bit of bad news, considering the sellers are losing money on the deal. The lack of interest from buyers has not hit on a national scale yet. There is no reason for alarm; the price reductions are not gigantic in nature. These minor drops have only dropped in the small range of $10,000 or less.
There were 330 sales in January 2011 but January fared better with 416 sales. There was little change in Vancouver's real estate inventory in January. The current count of the inventory list included over 3,000 available properties on the market. In other regions, the low-end price of condominiums jumped up by $20,000 for this January. There has been a strong buyer demand that has caused an avalanche in home prices throughout Vancouver and nearby cities. The real estate market is balancing itself out with all the present conditions. This vast improvement over last year is definitely promising stabilization to the weak economy.
The Canadian real estate market had a nice balance of sellers and buyers in January but February may be a different story. Some of the strongest sellers markets are in Richmond and West Vancouver. The prices did drop in Vancouver and this makes a perfect time for new buyers to purchase a home. There was 1,800 sales reported in December 2010 and January 2010 had a beautiful 1,900 sales. Surrey, Cloverdale, Burnaby and New Westminster are suffering a minor setback in a stalled real estate market but the winter season is always slow for this market. This is a good time to buy with lower prices and without the new laws being in effect.
The up's and down's in the real estate market is an expected event, Vancouver and other major cities will experience golden times and droughts. The Vancouver real estate market is expanding in the commercial aspect and the residential but an eye must be kept opened for the right properties. The prospects of any good purchase can be terminated during anytime of the season, especially during government interventions. The price of a good home is only what a person is willing to pay and Vancouver offers some beautiful locations to settle down in.