Here are some graphs which clearly illustrate the state of our real estate market in the Metro-Vancouver area.
On the inventory side, listings are very similar to last year. On all three property types, the total inventory is up by around 11%:
The above statistics are for the overall Metro Vancouver market. The ones relevant to your specific housing area may be different and would be far more relevant to you. If you would like to see how your area stacks up against the rest of the market, feel free to contact me for a more customized report.
It is worth noting that in this type of market which is far more balanced, sellers need to take greater care to prepare their properties to compete with others on the market. Sometimes the available inventory is large enough that the challenge is getting your property viewed in a single buyer's tour. More than 5-6 properties in a single day is often difficult to arrange, so that if you are not in the "top 5", you might miss a buyer.