BC Economy Reopening
Looking at the market, inventory is still relatively low for single-family homes, where condo inventory appears to be increasing. Single-family homeowners do appear to hold the power and can benefit from selling now.
With supply low, we have not seen a decrease in prices in the single-family home market yet.
As people come out of quarantine Condos living in condos likely does not seem attractive right now. Condos may start to see a price decrease if supply continues to increase and demand continues at this pace. Condos have also been hit with the increase in strata fees due to insurance premiums making them less appealing and reducing demand.
Let me know if there is ever anything I can do for you. -Mark