So, if you have a property that you're looking to sell thats in a downtown core, or even if you're looking to buy, one thing that you should know as that these areas will never be a sellers market again. While you can see single family properties in the entire municipality see hot markets, as well townhomes, the condos in downtown cores will not follow those trends.  At best, downtown cores will hit balanced markets while other areas and product types can hit sellers markets.

Now we're not talking about Downtown Vancouver per se.  Every single municipality has some sort of downtown core: Richmond has brighouse, Surrey has Surrey Central, and you can even say  that Burnaby has 2: the Metrotown are and the rapidly growing  Brentwood area.  And, every single one of these downtown cores have similar feature such as: being central, easy access to rapid transit and so forth. 

So, why will it never be a sellers market in these areas?

Well, 
One of these common features is high density. A lot of these downtown cores are not made up of a lot of single family homes, and over the last decade we've seen lots of new builds that have made these high density areas become even more dense.  So, these downtown cores are always going to have more properties for sale, and usually, its more than the actual demand.  

Secondly, buyers are making more informed decisions for practicality.  In the past, we've seen premium price for higher floors, and mountain views.  Nowadays, buyers don't see the value of these feautures as they aren't practical. And not as many people want to pay premium pricing for central locations as buyers would prefer to spend significantly less and buy a car with the money they saved.

But, if you're looking to sell or buy in a downtown core, this is something you should know . Its not 2011 anymore where the lingo of "location location location" was a thing.  Prices have gone up, so, people have adjsuted to it. 

 if you're looking to buy in to a central area, don't get into that notion that it will be high return on investment.  Just enjoy where you're at, and when you need to sell, sell it what the market is bearing.

And If youre looking to sell your central area property, you gotta make sure thats its priced competitively, or even below the curve.  There will be a lot of competition in pretty much every season of the year

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