Spring market update - February Market Minute
Real estate on the Sunshine Coast has been hot for two years but the combination of new mortgage stress tests paired with raising interest rates could push the first part of 2018 into a buyer’s market.
Sales across the Lower Mainland were strong in 2017 but RE/MAX projects that price growth could slow by more than half compared to last year . This would mean fewer qualified buyers and less demand. More than ever, it’s critical that sellers work with a Realtor that will actively market their property. More exposure translates into a quicker sale for more money.
At the same time, the first part of 2018 could be an excellent buying opportunity. Fewer buyers means less competition and more negotiating power. If you’re prequalified, 2018 might be your year.
I focus exclusively on the Sunshine Coast and don’t split my time between here and Vancouver. Whether you’re buying or selling, this market gets my full attention. Call me when you’re ready to make a move.