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Blog by Patricia Houlihan - Personal Real Estate Corporation

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How does the downturn in the market affect Vancouver's waterfront properties?

The waterfront/luxury market is slightly different from the general housing market for a number of reasons-but it is not completely isolated from market conditions and is now being gradually impacted by the slowing market. As is obvious from the chart below, we have hit all time highs in prices consistently for several years now and it was only a matter of time before this changed.  Looking at the waterfront homes currently on the market, one can see a shift.  While those in the luxury market are often more isolated from some of the factors which may push prices down, they are also often the most astute buyers-and this can affect what they will be willing to pay in a slowing market.  If you would like to discuss these issues in more detail, please contact me.

 

1977- June 08 Average Price Graph