As inventory builds further, those wishing to sell are feeling the pressure.
“I have 2 friends trying to sell properties right now and feeling very frustrated. One is a small cheap unit downtown, the other is a very high-end large unit. Multiple showings, open houses, staging, the whole 9 yards, and no nibbles yet. The only factor left to change is price… and so the pressure is on.”
“On-the-ground reports routinely tell of SIGNIFICANT price reductions in West Van. These numbers ARE already impacting prices. West and North Van are tarpits — no way out for anybody who bought after ’05…
And, in a related vein, this from betamax at Vancouver Condo Info July 1st,2008 3:16pm –
“I just talked to a realtor who said he didn’t sell a single thing in June. Zip, zilch, zero. This is a realtor who made $300k last year.“ .