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Spring 2019 housing market slower than in 2018

Spring 2019 housing market slower than in 2018

The May long weekend is widely considered to be Canada’s unofficial start to summer. Here on BC’s Sunshine Coast, it kicks off our busy tourism season that’ll last until Labour Day.

Out west, May’s long weekend goes by May Two-Four and May-Long while in Ontario, it’s sometimes called Firecracker Day. But the holiday’s proper name is Victoria Day and it marks Queen Victoria’s birthday, which was May 24. (It will be celebrated this year on Monday, May 20.)

She was Queen of the United Kingdom of Great Britain and Ireland (and of Canada) from 1837 until her death in 1901.

After her death, parliament made Victoria Day an official holiday in honour of Her Majesty’s contributions to Canada over her 63-year reign.

In 1952, the holiday was moved to the Monday on or prior to May 24, presumably to better allow Canadians to celebrate the lake monarch’s birthday by shooting off fireworks and drinking beer at the lake.

Our spring Sunshine Coast market is more active than it was over the winter but it’s noticeably slower when compared to this time last year. Expect benchmark prices to drop further while average days on market increase.

There are lots of listings and the ones moving are those which are priced sharply. If you’re selling this spring, price accordingly or risk chasing values down if the market continues to pull back.

The market is soft across the entire Lower Mainland. Out-of-market agents who typically don’t venture beyond metro Vancouver are now bringing clients over on the ferry in search of their next paycheque.

I strongly recommend using a local buyers’ agent that is familiar with the market in which you are buying. Real estate expertise is highly localized – being an expert in Pitt Meadows doesn’t make you an expert here.

Tony Browton is an award-winning Realtor who lives and works on BC’s Sunshine Coast. 

His weekly blog can be found here http://www.truebluerealty.ca/blog

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