Vancouver’s Real Estate Weekly Holiday Survey

Timing

In any market you will hear a common rephrase – “it’s all about timing.”

Is This the Right Time?

The Real Estate Weekly recently commissioned the Mustel Group to find out if it is the ‘right time’ to buy or sell your Vancouver home.

Who Answered The Call

The survey was based on the following parameters.

  • 349 interviews were completed
  • The questions were asked of residents from Hope to Pemberton
  • They were 18 years of age or over
  • They bought or sold a home or property in the past three years or plan to purchase/sell in the next three years or so
  • Survey completed by web using Mustel Group’s randomly recruited panel
  • Field dates: November 25-30, 2011;
  • Total sample, including non-qualifiers, weighted by gender, age and region to match Statistics Canada data for region
  • Margin of error: +/-5% at the 95% level of confidence

Plans – Past, Present

The Question(s)

  1. Have you bought or sold a home in the past 3 years or so?
  2. Do you plan to buy or sell a home or property within the next three years or so?

The Result

Searching for the Perfect Vancouver Home

The Question(s)

If you were buying a home in the future, what do you think would be your main source of information about homes for sale? Please choose your top two sources.

Would You Use:

  1. Internet
  2. Realtor
  3. Newspapers
  4. For Sale Signs
  5. Other

The Result

Thoughts

It’s uncertain why dollars were spent to derive these answers when there exists multiple surveys regarding this knowledge much of which is free and available on-line. One thing that can be said is that the consistency of the result is unanimous within them all. The internet is and has been for a number of years the preeminent source for Vancouver real estate information. Although it is unlikely to be classified as scientific research in the use of the internet as a first source when searching for Vancouver homes, the amount of traffic using the free home search available on this blog totals multiple thousands annually.

Would You Buy In Winter

The Question(s)

Would you consider purchasing a home during the months of December or January?

The Result

Of the 225 responses, 58 past buyer/sellers and 193 future buyers/sellers proffered the following rationale

  • Believe to be a good time to buy (more negotiating room, lower prices)
  • Time of year does not matter/not a concern
  • No choice due to relocation or other circumstances
  • Starting a new year
  • Other


Commitment Levels

Taking into consideration the above rationale espoused by Vancouver real estate buyers and sellers their level of commitment to actually proceed with the task exceeds 50%.

Thoughts

While the commitment level seems optimistic, in general the volume of sales numbers do not seem to statistically coincide with the responses given. December real estate sales in Vancouver have traditionally been the slowest month of the year. While the survey indicates that interest is high the reality appears substantially different.

Community Perspective

Thoughts

Depending on where you live appears to influence whether you would consider buying or selling a home in Vancouver during the December/January period. This leaves us to ponder what element(s) exist within each community to account for the variation. Are things like personal net wealth, ethnic background or current income factors?

Unfortunately, these questions are beyond the scope of this survey but such answers are needed in order to provide a more insightful perspective of what makes Vancouver buyers and sellers tick.

Regardless, a hat tip to REW for making this information available in their effort to warm the December-January market chill.

Survey Results Displayed Courtesy of Real Estate Weekly Reprinted with Permission REW’s Perspective Hat Tip – Susan Kirk Image Credit

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

BubbleBoy Says:
December 15th, 2011 at 8:15 am

Buying and selling, I’d use any realtor that would give me a kick back!

December 15th, 2011 at 8:36 am

@bubbleboy
You really are a maroon!
Go comment on their blog.
Oh I forgot – they can’t afford the time it takes to run a blog.
Why you ask?
Simple – because they gave you a kick back!

Reggie Says:
December 16th, 2011 at 5:25 pm

I think things are looking like they are shifting from overdrive into neutral.

JMHO.

RL

would-be buyer Says:
December 16th, 2011 at 9:10 pm

Larry, I see you recently sold a house one block from where I live in the 3000 block of West 12th for $1.5M something, I think I read. Good for you. My neighbour sold his pretty craftsman house for $1.6M just this summer, and I must say it was a way nicer house than the one you just sold at a similar price. But, I personally prefer the older craftsman houses to a Vancouver special. I will say, the owners of the house you just sold seemed very nice and gave my daughter a beanie baby for Hallowe’en because she is too young for candy!

December 16th, 2011 at 9:32 pm

@would be
Though at first glance it looks like one it’s not a Van special at all. It was an bungalow lifted many years ago. There was very little that had not been made new in the past number of years. The lady owner you speak about has always had a great sense of spirit for seasonal events and as a former worker at the Toy Box had a keen sense of what makes children happy.

Comment On This Post

will not be published
http://www.yourwebsite.com