Summer is here!  Is it a good time to buy or sell a home in the GVA? 

Summer is often considered a prime time to buy a home in the Greater Vancouver area, but its suitability can vary based on your own individual circumstances and neighbourhood market conditions.

One of the key advantages of selling a home in the summer is you'll find more families looking for homes. Families prefer to move during the summer months to avoid disrupting their children's school year.

The longer daylight hours also provide more time for viewing homes, making it easier to schedule showings and open houses.

On the buying side, the summer market tends to historically be slower than the spring and fall markets so less competitive. Home buyers have the ability to take more time when searching for a home in more balanced conditions.

The pleasant weather allows for thorough inspections of the property, including the exterior and landscaping, which might be concealed during colder months.

On the downside the summer real estate market typically sees less inventory than the fall and spring market cycles in the Greater Vancouver area so may make finding the right home more difficult. So far the summer of 2024 is however turning out to be an exception with much higher inventory than normal. With numerous listings vying for attention,  it's crucial for sellers to price sharply,  and invest in staging and a Realtor with exceptional marketing to stand out.

Ultimately, whether summer is a good time to buy or sell a home depends on your own personal circumstances, market conditions, and financial readiness.

Buyers and sellers should weigh the pros and cons and consider consulting with a real estate professional like ourselves to make an informed decision that aligns with their goals and timelines.

Thinking it might be time to buy or sell? We can help you make informed decisions on whether the timing is right. Contact Dean Wegman here.