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Have we hit the bottom?

Blog by Jacquie P. Wilson | March 4th, 2009

Have we hit the bottom, tis the question?    I have found that the consumers are returning to the market.  The Open houses are busier than ever.  Spring is traditionally a busy time for shopping for real estate and now that the prices have come down by 14%.  People are out there looking for deals.  The deals are there to be found.  The average price of a home has come down almost 100 thousand dollars.  It is taking an average of 67 days on the market to sell a house.  If you are thinking of selling and trading up.  Consider that 67 days is average.  If you want to guarantee your house is going to sell you are going to have to get an aggressive price.  The positive news released from the Real Estate Board of Greater Vancouver yesterday is that there are now 25% less listings than in January.  This speaks to the prices not getting much lower than they already are.