The real estate landscape in Greater Vancouver and North Vancouver appears to be turning a crucial corner. After several months of uncertainty, falling prices, and buyer hesitation, the market seems to be stabilizing - and even showing early signs of growth. For buyers and sellers alike, this shift marks a welcome change toward a more balanced and active housing market.
A Market in Transition
For the first time in years, low-cost condos are driving movement in the market. Condo owners who had been waiting on the sidelines are now able to sell their properties at reasonable prices, giving them the financial flexibility to purchase their next, more expensive homes.
This chain reaction is breathing life into higher price brackets as well - sellers of mid-range homes can now move up to even larger properties, creating a healthy cycle of real estate activity.
In short, the Vancouver real estate market is moving again. After a long stretch of sluggishness, the combination of affordable pricing and lower interest rates has set the stage for new opportunities.
Have We Reached the Bottom?
It certainly feels like we may have. Over the past year, home prices across Vancouver and the North Shore saw notable corrections, bringing them down from their record highs. Meanwhile, interest rates have started to ease slightly after several aggressive hikes.
For many local buyers, that’s a signal of hope. When both prices and borrowing costs align favorably, it becomes a rare window of opportunity to enter or upgrade within the housing market.
If you’ve been sitting on the fence waiting for “the right time,” this might be it. As seasoned North Vancouver Realtor Darcy McClary often advises, “The best opportunities come just as the market begins to rise again - not after.”
Why Sellers Are Becoming Buyers Again
When market confidence returns, the dynamic between buyers and sellers changes dramatically. Sellers who once hesitated to list their homes - fearing they wouldn’t get the right price - are now more optimistic.
With entry-level condos selling steadily, sellers are turning into buyers. They’re using the equity gained from their first homes to purchase more spacious houses in desirable neighborhoods like Deep Cove, Lynn Valley, and Edgemont Village.
This domino effect not only stimulates the market but also creates a sense of momentum -something that Vancouver real estate hasn’t seen in quite some time.
What This Means for Buyers
If you’re a buyer right now, you may be in a sweet spot. Prices are still comparatively low, and competition is not as fierce as it was during peak years.
To make the most of this period:
Get pre-approved for a mortgage to secure favorable interest rates while they last.
Work with an experienced local realtor like Darcy McClary, who understands neighborhood trends and pricing nuances.
Act decisively - waiting too long could mean missing the bottom entirely as the market gains momentum.
Remember: once confidence returns broadly, prices can rise quickly.
What This Means for Sellers
Sellers are also in a promising position. While it’s not yet a full-scale seller’s market, activity levels are increasing. Buyers are more engaged, showings are picking up, and the average days-on-market are gradually shortening.
If you’re considering selling your condo or townhouse, now is an ideal time to capitalize on renewed buyer interest. Pricing strategically - slightly ahead of the curve - can position you for multiple offers as the spring and summer seasons approach.
Plus, if your plan is to “move up” to a larger home, the price gap between property tiers is narrower than it’s been in years. That makes upgrading more affordable than during boom cycles.
Expert Insight: Why Timing Matters
Every real estate cycle has its bottom, and recognizing it early makes a significant difference. Historically, when prices stabilize and sales start increasing in lower segments (like condos), the rest of the market follows within months.
Right now, that pattern is emerging clearly in North Vancouver - a region known for its resilience and long-term property value. Buyers who enter the market at this point are likely to see appreciation as confidence strengthens and demand returns.
Navigating the Shift: Practical Tips
Stay updated on local data, not just national trends. Vancouver’s market behaves differently than other Canadian cities.
Buy for value, not just for price. Focus on neighborhoods with strong long-term growth potential.
For sellers: present your home beautifully - small upgrades, staging, and professional photography can make a big difference.
For buyers: have financing, inspections, and decision-making streamlined. Speed counts in a recovering market.
The Road Ahead
The coming months will reveal whether this early activity turns into a sustained recovery. However, indicators are pointing in the right direction. With lower interest rates, increased mobility among condo sellers, and growing buyer optimism, Vancouver’s market seems to have rediscovered its rhythm.
Both buyers and sellers can benefit - but timing, preparation, and the right guidance remain key.
FAQs
1. Is Vancouver’s real estate market improving?
Yes. Sales of lower-priced condos are increasing, signaling renewed activity and more balanced conditions in Greater Vancouver and North Vancouver.
2. Should I buy a home now or wait?
If you’re financially ready, now is a good time. Prices have softened, and interest rates are favorable - conditions that may not last as the market strengthens.
3. Is it a good time to sell my condo?
Yes, particularly if you plan to move up to a larger home. Demand for condos has revived, allowing sellers to transition smoothly.
4. Why is the market considered ‘balanced’?
Because both buyers and sellers have opportunities - homes are selling at fair prices, and supply is aligning with steady demand.
5. How can a realtor help during this phase?
An experienced realtor like Darcy McClary provides insight into local price trends, negotiates the best deals, and ensures your timing and strategy align with current conditions.
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