The real estate market in Vancouver has shifted dramatically. Over the past few years, prices have come down substantially, and the reality is that we are not where we once were—and we are not likely to return there in the near future.
Many sellers today are holding onto the idea of yesterday’s prices. It’s understandable—our market once broke records year after year, and for a long time, buyers seemed willing to pay almost anything to secure a home. But today’s buyers are far more cautious. Higher interest rates, stricter lending rules, and a flood of new inventory have changed the balance of power.
The truth is simple: buyers are not meeting sellers at yesterday’s numbers. If you price too high, your home will sit on the market, and the longer it sits, the more buyers begin to wonder, what’s wrong with this property? That perception alone can hurt your final sale price more than adjusting upfront ever would.
We are in a market where values are recalibrating downward. It’s not just your home—it’s across the city, from condos downtown to family homes on the West Side and North Shore. And while this may feel discouraging, there is also opportunity. Those who adjust now, price realistically, and stay ahead of the curve are the ones who will actually sell. Those who wait—hoping the market will shift back in their favor—are likely to see values slip even further.
If you are considering selling, this is not the moment to chase the market down. This is the moment to get ahead of it. Buyers will always come to the properties that show the best value, and in today’s climate, value is everything.
Many sellers today are holding onto the idea of yesterday’s prices. It’s understandable—our market once broke records year after year, and for a long time, buyers seemed willing to pay almost anything to secure a home. But today’s buyers are far more cautious. Higher interest rates, stricter lending rules, and a flood of new inventory have changed the balance of power.
The truth is simple: buyers are not meeting sellers at yesterday’s numbers. If you price too high, your home will sit on the market, and the longer it sits, the more buyers begin to wonder, what’s wrong with this property? That perception alone can hurt your final sale price more than adjusting upfront ever would.
We are in a market where values are recalibrating downward. It’s not just your home—it’s across the city, from condos downtown to family homes on the West Side and North Shore. And while this may feel discouraging, there is also opportunity. Those who adjust now, price realistically, and stay ahead of the curve are the ones who will actually sell. Those who wait—hoping the market will shift back in their favor—are likely to see values slip even further.
If you are considering selling, this is not the moment to chase the market down. This is the moment to get ahead of it. Buyers will always come to the properties that show the best value, and in today’s climate, value is everything.
I know this isn’t easy to hear. But part of my role as your Realtor is to give you the truth of where the market stands, so you can make informed decisions. Selling now means being realistic about today’s numbers—not yesterday’s dreams.
If you would like a realistic appraisal of your home, contact me. I'll navigate you through the tough market we are in.