What a difference a few months can make in the Vancouver real estate market. Inventory is high and prices are falling, no longer are we seeing the bidding wars of the past. In fact, it’s starting to look like reverse bidding wars as sellers compete for sharper pricing to snag the last of the boom-buyers. We’re starting to see some big asking price discrepancies on similar units in the same building.
Girlbear pointed out this first example in Arbutus walk:
847 sq feet asking $494,900 vs. 950 sq feet asking $439,000.
Anonymous pointed out this second example down near gastown:
1,236 sq feet asking $548,000 vs. 1,202 sq feet asking $649,000.
Buyers who bought before the big run up in prices can afford to sell at a much lower price and still make money compared to those who bought more recently. I guess this is what they mean when they say ‘buy low, sell high’.