Getting Deals on Vancouver Real Estate in the Winter?
Yes! Time of year matters! I recently had the pleasure of being interviewed by Jessi Johnson, a Vancouver mortgage broker on buying Vancouver Real Estate in the Winter and whether or not you can get a better deal at that time of year.
Buyers Deterred by Weather, Busy and Distracted with Holidays
The winter, particularly the holiday season, tends to be a quite time in the Vancouver Real Estate market. Buyers are less likely to want to venture out in the cold stormy weather and they are busy and distracted with family and holiday celebrations. Less Buyers out means less demand for real estate. A motivated buyer can use this to their advantage.
Motivated Sellers in Winter, particularly the Holidays
The best time to sell Real Estate in Vancouver is in the Spring (not too hot, lots of sunny days, and no vacations). After that is Autumn (Everyone’s back from vacation, lots of sunny days, and no vacations) and then Summer (Lots of sunny days, but the heat means buyers go to the beach and people are on vacation) and then Winter (See above).
Homeowners hoping to sell their properties over the winter, particularly if they are marketing their property over the Holidays tend to be highly motivated. Motivated Sellers with less Buyers available means that motivated Buyers often get better deals in winter (particularly the Holidays!) when buying than they would at other times of year.
Looking for properties in Vancouver? Check out my post on how to efficiently search for properties in Vancouver.
I strongly encourage questions and comments!