These are sellers that are looking to test the market with their own price in mind.  However, there are consequences when it comes to not properly listing the price, especially in a declining market. 

In a rising market, the market may catch up to your test pice....maybe.
But the market doesnt typically rise that fast. 

However, if you test the market with a high price in a declining market, there are consequences where there is no turning back.  

Now, lets use easy numbers for example and say you're selling your 1 million dollar townhome and you wanted to test the market with your ideal price. 

I can tell you right now that townhomes in Richmond has seen a steady decline of 7% in the last year. 

So...in that 3 months while you were waiting for that 'right offer', your property would have lost somewhere between $10,000-$20,000 just waiting for that right offer.

This is money you will not get back, and now....your test price is more unrealistic than ever. 

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

I could tell by the email they sent that these were questions they were sending to more than one realtor.  And....i don't think they liked the answer gave them. 

They're looking to sell their condo and upsize into something bigger. 

So, here is the question they asked:" how do you approach the risk of aging systems like radiant heating, and roofing?

Well, aging components need to be replaced, especially the roof. So i'd be approaching it by either putting a few thousand dollars aside, and have a continuous plan where you put a small amount in there every month. 

I dont think they liked that answer so much.  But realistically, putting money on the side every month is responsible home ownership. I don't think that the approach of embracing special levy aligned with them so much.  But special levies are inevitable.



As the buyer, how do you protect us when sellers doesnt disclose the strata maintained items? 

Well, the seller isn't responsible for disclosing the condition of strata maintained items. They're all as transparent as can be in the strata documents.  More specifically, in the minutes, engineers reports and depreciation reports. Thats why its important for you to review the strata documents. Not me....you!  But i'lll be there by your side to review them with you...not for you. 

Again another answer that wasn't really taken well. 


But here's the jist of it:

Homeownership requires responsibility.  And....if you want your investment to flourish, you have to 

A. Stop being emotionally invested right after looking at a property. Theres a lot more you have to look at that you cannot see from the intial showing.
B. Stop running away from future costs. Instead of running away from them, its best to understand them. Future costs are again, inevitable, but what is accptable to you and what is the nature of these future costs. Sometimes these fuure costs arent in the best nature.
C. 

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

2024
Overall: 2171
Spring: 659 (30% of entire year) 

2023
Overall: 2415
Spring : 809 (33% of entire year)

Single Family Homes

2025
Overall: 627
Spring: 234 (37% of entire year) 

2024
Overall: 797
Spring: 305 (38% of entire year) 

2023:
Overall: 820
Spring: 376 (45% of entire year) 


richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sal

Well....not necessarily, and it depends on who you talk to. So, here is my take on subject to sale offers here in 2026.

If you were to write a subject to sale offer on my listing, i wouldn't be inclined to be working with it.  And here are three reasons why.

1.  The sole reason of a slow market shouldn't be a reason why i should work with a subject to sale offer. It just isn't. I'll work with subject to sale offers in a busy market, but theres just more to consider than the fact that its the only offer in front of me: the current market of my listing, the market of the other property for sale, if its even on the market, how its positioned and more.

2.  If a slow market is the reason why you're writing a subject to sale offer, then our side has to wait for your property to sell in the exact same market conditions. It doesn't really seem to be intriguing. 

3 And lastly, this is whats unique about the slow market in 2026.  For the last 3 years, it's easier to be qualified to purchase a property.  In the last year, we've seen declines in interest rates, mortgage regulations being a little bit more relaxed as well as dropping prices.  All elements that make today's buyers more qualified than lets say 5 years ago.....theres just, definitely not even as close to as many buyers as there is inventory. So, its hard to work with a subject to sale offer knowing there are bona fide buyers out there.

So, its not a matter of not being incooperative when being presented a subject to sale offer. 

Its a matter of:

1. Being knowledgable on both sides of the market
2. Working in MY clients best interest and
3. Setting realistic expectations to both parties.  

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

No i'm not going to tell you its the best time to sell, or its the best time to buy, but over the years, the spring market has a had this... narrative, and i'm making this video clarify a few things. 

And in case you dont me, my name is Ray Estrella, and I am a realtor with Sutton Group Seafair Realty and the main part of my business is helping families and individuals with the next stage of their life, through real estate.  So, if this sounds like you, i invite you to keep watching.


The spring market is a very popular time for real estate! Have you ever seen or heard, whether its an ad or headline saying the spring is best time to sell?  

Well, that also implies that  its the worst time to buy.

Yet there's a lot of buyers out there, because upon tax season, buyers are motivated through their latest mortgage prequalification.

We've also been told that the Spring time will be the top of the market! 

Really?  

Lets take a look at that for a second.

Apartment/Condo Benchmark prices from the Start of the Spring Market to the end of the Spring Market

march 2022 - 835,500
August 2022- 740,000

March 2023- 737,400
August 2023 - 770,000

March 2024- 777,500
August 2024 - 768,000

March 2025 - 767,500
August 2025- 734,400

So if you're hearing that the Spring is the best time to sell because its at the top of the market, that is outdated information.  
From 2006 when i started, all the way to covid we've seen a year over year incline whether it was .1 of a percent or 5 percent....with a couple of sections where the market went down for whatever reason.  So yes, every time the spring came around, we were under the impression that it was the top of the market.  You could also say that about the summer, and you could also say that about the fall year over year.  

Spring of 2006 $338,700
Spring of 2021: $715,000

But prices didnt increase or decrease because it was a certain month, or a certain season.  That's what i'm trying to get it.

So after saying all this, is the Spring time a bad time to sell?  

And my answer is....absolutely not.  Just change the perception what you have about the Spring Market.  The spring time is a very popular time to do real estate, because it is convenient.  

I mentioned earlier that the tax season provides a buyer motivation through new qualifications. 
But on top of that, real estate in the spring means moves that doesn't interfere with the kids school years, and yearly holidays. 

There are a lot of benefits in moving in the spring, but that goes both ways...selling and buying.  

I hope you found this information helpful, please message me if you have any questions we can answer for you. We'd love to help connect the dots. 

So, a few days later, i got a call from the realtor saying that the accepted offer didn't go through and wanted to see if i was back on the table. 

Unfortunately, we already involved another deal  and we we were in the middle of subject removal.

And yes, my client did like the first property better so i know its going to be a matter of time my client will be wondering what the status of that is, even though we had an accepted offer on the table with another property.

Now, upon the discussion, she brought her concerns about a form i asked her client to sign.  It gave me authorization to contact strata to find out if they really knew about these renovations, just like its stated in the disclosure.  

And she mentioned that it would be a risk to her client if it was signed, and that, unfortunately, is true, because i could potentially open up a can of worms as i'm performing my due diligence.  

She also said, strata council members knew about the renos and never said a thing. 

Unfortunately, that answer isn't really good enough for me and my client.  Strata members knowing about the unauthorized renovations does not equate to the strata management having knowledge of them.  It's not common for strata council members to come and go, so it will only be a matter of time these unauthorized renos can be an issue.

This unit had a wall taken down, and pot lighting that required electrical to run through the ceiling. Not that the renovations itself were't savvy, but this is definitely something that you want strata to have a record of.  

So, why is it important to have a strata record for.

Because down the road, when its time to sell, for whatever reason, you want to have property thats easy to sell.  And when you have a property where something like unauthorized renos is delaying the sale, this will not be a quick, nor an easy, nor an inexpensive way to rectify it.

And buyers....buyers are getting more educated, especially on issues like thi.s

A buyer and I found a nice 1 bedroom we liked, and we decided to gather more information on it, with the intention of writing an offer. 

One document that was available to view  was something called a MATERIAL LATENT DEFECT disclosure.  

What that is is a sheet that discloses items that may be potential issues.  Common reasons to see a material latent defect disclosure are things like unauthorized suites, or renovations that were done without permits or strata permission.

This was the case.  

So this unit in particular, had a few things done that visibly required strata approval, such as the addition of an aftermarket heat pump, pot lights and the removal of a kitchen wall.  

One thing that the disclosure did say is that the strata knew about it, so i was like great! 

So we wrote an offer on the property, but i also added a document for the seller to sign called authroization to inquire.  

Pretty much its a document that gve me and my buyer authorization to talk to strata, to make sure the renovations that this unit was to strata's knowledge.

Now, this property has now been on the market for 6 months in an area that is typically a balanced market, even in this current market.  

We were told that we'd get a response right away, but we had to wait a few hours.....only to hear that there is another offer coming. 

So, we were asked, just like any multiple offer situation, if we wanted to revise our offer, we said no. 

They also asked me if i needed to get the inquiry authorization signed...i said absolutely.  


So, as it went late night, we receieved a response saying we didn't get the property.  

No skin off of my back, but i did ask the realtor to give me a shout if it fell through.  This is where part 2 of the story comes in. 

Bottom line, take huge caution on dealing with material latent defects especially with strata properties. These are items that you would be adopting as the new owner.  There is absolutely nothing more solid than a paper trail provided by strata.  And obviously that is something you want to make sure you have when you're selling too. So if that paper trail doesn't exist, make sure you're on full alert and either take the steps to find it yourself or move on. 

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

January 2025 Townhomes -1,110,800
January 2026 - $1,057,400
(-7.3%)

Single Family Homes
January 2025 - 2,178,300
Now- 2,036,800
(-5%)

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

Well, even if you're just pondering it, watch this!  This will give some quick details why 2026 is a lot different from....many other years!

But first off, if you don't know who I am, my name is Ray Estrella, and I am a real estate professional here in Richmond, BC.  Everything that i do is based on a Family First approach.  Which means all of my business, arent developors or investors...they're people who want to take the next step of their lives through real estate.  So, if this sounds like you...keep watching.

So, here is some information of what the market looked like exactly a year ago, and here's what the market looks like now.

2026 has been an interesting year here in Richmond.  We saw declines for all types of properties.

-Condos and apartments sales went down and we a saw decrease  more than6%  and townhomes at a decline of 7 percent.
-The single family home market saw a decline in almost every sector of the greater vancouver area and the fraser.  In Richmond we saw a decrease of 5%

Here's also where it gets interesting as well. 
A year ago, we saw interest rates at hovering around the mid 4% mark. 
Now you can talk to your mortgage specialist and they might be providing you with an interest rate below the 4% mark.


So, what does this mean to you:

Overall, the market is something that is in favour for buyers, in many different aspects.  

Typcially, whenever we see an interest drop or rise, this has always directly effected the price of the market.  

Over the last 2 years, we saw one of the highest interest rate hikes in almost 20 years.  And here we are in 2026 with a normalized interest rate, and decreasing prices.  Typcially, we never see that. 

And also, the high amount of inventory means 2 things:
1. Competetive pricing, where the sellers are forced to be on par with the current market.  Which also means that those stressful multiple offer situations are not that much of a thing anymore.

Which brings me to number 2: 
The ability to perform your due diligence.  If you're new to the market, this has to be the most important thing a buyer can have.   You're able to sit back and breathe and make sure that your real estate purchase is a sound investment

Back in sellers market, this due diligence was taken away from buyers, so not only do we get this back, we get it back on our terms.
Which means:
-giving us the time to make sure the mortgage is good
-reading about the building's recent history,
-inspections, 
....or, just pondering it over, making sure you made a right choice.


How to get started

My first session with everyone i work with is purely educational.  We never talk about properties.  We talk about the steps, and in the most optimal order. I want the people that i work with prepared so they know whats going to happen, before it even happens.  We even talk about the preparation stages for example, downpayment, PR status and more., because the preparation stages are something that I don't take likely.  The more you're prepared, you'll notice that there are better options in front of you.

At the end of the day, our first educational session will be a huge time saver on the road.  Then you can use that time saved to focus on other things in your life. 

So, if 2026 is even something you're talking about.....i'd love to be there to connect the dots.


richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

The family and I just back from an amazing trip to Japan, and Ilove  to share with you what I brought back.  

And no, its nothing material, even though there was lots of shopping at our disposal.  

I may have spent about 50 dollars at the capcom store and and 20 bucks on a mug that I liked in Disneyland, and thats about it.  So, physically, i barely brought back anything.....except for a little bit of excess baggage if you know what i mean. 

So, here's stuff that came back with me from Japan.

1. Patience

Now, honestly, i'm not the most patient of people, especially while driving.  In the side streets of japan, you'll notice pedestrians, scooters cars, and bikes all share the same space....all at the same time.  There is a trust that everyone has eachother.Nobody is yelling, nobody is honking, and nobody is concerned for their safety...because they all know that they are all just trying to be somewhere  just like the next guy.  

2. Embracing effeciency
I've always been the kind of person to be in control of everything.  What comes along with that is an ineffecient way to do things.  I have teammates, colleagues and technology on my side that I know i can use, I just choose not to. And I'm sure if i can embrace effeciency, i know that will free up time to do more things that matter.

3. next level courtesy
I feel that I am a couteous peson, both personally and in the workplace.  If you ever go to japan, you'll notice the level of courtesy is a reputation that precedes them. I just know that there is something that can be unlocked that can level up a level of courtesy can go unexpected.  

4. Street food galore
For anyone that knows me, I'm a total sucker for street food.  This trip to japan gave me a number of ideas on what to try out when the barbecue season comes back.  I even bought myself a takoyaki pan off of amazon and used it the moment I arrived!  But hey, who knows, maybe my next summer mingler will be over a japanese bbq

Now, i know i can't bring this stuff back from japan and expect to use it the moment i came back.  These are all virtues that you kinda have to beleieve in, work on and practice....especially the cooking. 

So, looks like this will make a good new years resolution for 2026.  

Happy New Year everone!

Here's a few quick things to know about your assessment.
1. This assessment was conducted in July, which doesnt represent the current market
2. This assessment is primarily for tax purposes.  Even though theyre for tax purposes, there are corelations to keep consistent between lending values as well as as appraisal values.
3. Your assessment does not indicate an increase or decrease in property taxes.  Your taxes are determined by your municipality's budget and your assessment serves as a  mill rate to determine your share of property taxes.
4. Your property tax assessment is subject to dispute, so keep that in mind before the end of the month. 

Hope this helps. 

Happy New Year. 

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

Would you rather sell in a sellers market or a buyers market?  Or maybe somewhere in between? 

Well, this is the follow up question I always ask when people ask me if its a good time to sell.....what are you planning to do next? 

The answer is different from client to client, therefore the answer to the first question of would you rather seller in sellers market is also different. 

So, it's really a matter of what you're doing last, as oppose to what you're doing first.  And maybe, selling your property, like an investment is the last thing you're doing without going into another property right away.

So, therefore, there are huge benefits in selling in the slow or a balanced market, especially if you're looking to transition into a new property.


Transitioning during a sellers market can be very stressful, especially in the second half of your transaction.  So even though your property sold at the terms and price you want, now you gotta go househunting in the exact same manner.

Me personally, i prefer dealing in balanced markets rather than sellers markets.  And even in slower markets, theres a lot more peace of mind in both the selling and buying process.

So slow down the gears, and focus more on what you're doing last, as opposed to what you're doing first. 


richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

Last week, my clients and i viewed properties, that included 2 listings in the same building.  After our tour, we decided to write on one of the two listings in the same building, simply because they liked the paint scheme better.  

After writing an offer, the seller countered us with price, and a 4 month completion (we originally asked for 2 months). 

We responded, well, why we do a a 3 month completion, but they insisted they wanted 4 months.  

We asked why they wanted to do such a long completion and they responded with: we haven't found a place, we need time to look around, etc. 

Now, keep in mind that both of these properties have been on the market for more than a hundred days.  

So, we halted negotiations with the first property and we inquired about the other one in the same building and they said they would give us the 2 months we originally wanted.  

So, fast forward to yesterday....the first realtor gave me a follow up call asking if my clients are still interested, and they would give us the 3 months we discussed.  
And i informed them that we already found a property because they were wanting to work around what we wanted.

He does't know that we wrote on another unit in the same building....but they'll be finding out soon enough. 

It's currently a buyers market, so the expectations of what a buyers market looks like should be expressed if you want to be putting your property on the market. 

There's a chance that your property may fly off the shelf....and if that happens, then you'll have that benefit of completion dates and price in your favour.  

However, if your property is stagnant on the market, then you should be doing things to help prepare you for when you do het an offer.  
1. keep informed on what's happening on the market: recent sales on the market to help adjust your listing price.
2. keep informed on properties you want to buy
3. have a plan b set...in case completion dates are not very favourable. 

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

So this is 5 years later, and while it looks like the project is done, the developer decides to back out in speculation to sell for more money.  The developer was stating issues of the bank cancelling the project, unexpected costs, and making sure the project complies with environmental surveys by the creek.

If you look up this story, you'll also find a video of the buyers confronting the developer as he sits in one of the townhomes reselling them for more money, and it got ugly.

We'll be keeping a close eye on this unusal story.

Welp...you wouldnt have hear it from me. 

I am not saying that its completely false, but the narrative have sellers beleive that this is when your property sells for the most money. 

So, why don't we take a look what has happened during the spring in the last couple of years.

Well, we don't have to beat a dead horse to talk about this spring and real estate prices, but here are the numbers of spring vs. the season prior.

Apartments:February Bencharmark: 
$2,026,500
759,600
June: 
$1,994,500
$748,000

And here are some numbers of what happened last year: 

February: $1,972,400

770,000

June: $773,000

2022: 
February: 807,000
June: $766,000


So, really, is the Spring really the best time to sell? 


Let me correct the phrase, and I do stand by it: "Spring is th best time....to do Real Estate."

Regardless of selling or buying, and regardless if the market went up or down, theres a reason why the spring is the most popular time to do real estate: 

tax season plays a big part of mortgage qualifications, higher inventory to choose from, the timing of things that avoid holidays and back to school , there are many reasons outside of price that makes the spring the most popular time to do real estate.

However, if you're fixated on price and timing the spring market, you can very well be disappointed with your real estate plans. 

We've seen many years in a row where we've seen a steady climb in the market where it seemed like Spring was always the height of the market.  Theres a lot of factors that contribute to the incline or even decline of the market.  But prices aren't going to suddenly increase because its a certain month. 

So, when its your time to make your move, dont time the market based on just price. There are oppurtunities that can be missed because of a misleading blanket statement.  You have a unique situation, so make sure you time your real estate move based on you, not a popular notion.



richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

Home sale trend stabilizing in June

After a turbulent first half of the year, home sales registered on the MLS® across Metro Vancouver* are showing emerging signs of a recovery, down ten per cent year-over-year – halving the decline seen last month.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,181 in June 2025, a 9.8 per cent decrease from the 2,418 sales recorded in June 2024. This was 25.8 per cent below the 10-year seasonal average (2,940).

"On a trended basis, signs are emerging that sales activity is rounding the corner after a challenging first half to the year, with the year-over-year decline in sales in June halving the decline we saw in May. If this momentum continues, it may not be long before sales are up year-over-year, which would mark a shift toward a market with more demand than the unusually low demand we’ve seen so far this year."

Andrew Lis, REBGV director of economics and data analytics

There were 6,315 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2025. This represents a 10.3 per cent increase compared to the 5,723 properties listed in June 2024. This was 12.7 per cent above the 10-year seasonal average (5,604).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,561, a 23.8 per cent increase compared to June 2024 (14,182). This is 43.7 per cent above the 10-year seasonal average (12,223).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for June 2025 is 12.8 per cent. By property type, the ratio is 9.9 per cent for detached homes, 16.9 per cent for attached, and 13.9 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“As home sales regain their footing, inventory levels aren’t building as quickly as we’ve seen lately,” Lis said.

“Most market segments remain in balanced market conditions, which has generally kept prices trending sideways since the start of the year. With over 17,000 listings on the market right now, and with mortgage rates down around two per cent since last summer, buyers are enjoying some of the most favourable conditions seen in years.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,173,100. This represents a 2.8 per cent decrease over June 2024 and a 0.3 per cent decrease compared to May 2025.

Sales of detached homes in June 2025 reached 657, a 5.3 per cent decrease from the 694 detached sales recorded in June 2024. The benchmark price for a detached home is $1,994,500. This represents a 3.2 per cent decrease from June 2024 and a 0.1 per cent decrease compared to May 2025.

Sales of apartment homes reached 1,040 in June 2025, a 16.5 per cent decrease compared to the 1,245 sales in June 2024. The benchmark price of an apartment home is $748,400. This represents a 3.2 per cent decrease from June 2024 and a 1.2 per cent decrease compared to May 2025.

Attached home sales in June 2025 totalled 473, a 3.7 per cent increase compared to the 456 sales in June 2024. The benchmark price of a townhouse is $1,103,900. This represents a three per cent decrease from June 2024 and a 0.3 per cent decrease compared to May 2025.

^* Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

Download Full PDF

The last couple of clients i have talked to  have been looking to sell their tenanted property. 

And for both of them, their main concern is "i'd like my tenants to be comfortable with the process." 

And really this is something that you want for the sake of a stress free experience. And yes, there are a lot of owners of tenanted properties that are more concerned about the sale as opposed to the comfort of the people thats been paying their mortgage for however long theyve been living there.

So, heres a couple of things that you want to do to make the process really comfortable for the tenants.

1. Have that discussion early
You wont beleive how many landlords find it difficult to have that talk with the tenant that they intend to sell the unit.  Some find it so difficult that some landlords put their property on the market without letting their tenant know.  And if that conversation of informing the tenant isn't easy, the discussion of infoming them that the property is sold isn't easier.  Actually this type of conversation is the oen that hits many disputes.  

The conversation is easy.  And its respectful.

"Hey, just wanted to let you know, we're looking to sell the property in a year's time. We might or might not, but just wanted to let you know.  


2. Sell at a decent market
With the current market slow as it is, its definitely not a good time to put your tenant in the mix.  Ideally, you dont want to be bothering your tenant for months during this process.  It gets frustrating, especially if they take time in the day to help out preparing the property for a showing.  So, you want to do this at a decent market where you can minimize interruptions.



3.have your realtor in the initial conversation before the property get listed.
Whenever listing a tenanted property, i do insist on introducing myself.  A lot of times, the owner just gives the contact information to the realtor and have them contact the tenants themselves. Alternatively, theres a better method, where the realtor, the tenants, and the owner can be in the room at the same time, to address concerns, answer questions, and go over the process as everyone sees fit.  This is also a good way to make sure everyone is on the same page before the property goes onto the market. 

Anyways, hope this information helps. 

Cheers! 

Buyers remain hesitant as inventory builds

Inventory levels across Metro Vancouver* reach another ten-year high, while home sales registered on the MLS® remained muted.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,228 in May 2025, an 18.5 per cent decrease from the 2,733 sales recorded in May 2024. This was 30.5 per cent below the 10-year seasonal average (3,206). 

"While there are emerging signs that sales activity might be turning a corner, sales in May were below the ten-year seasonal average, which suggests that many some buyers are still sitting on the sidelines or are being especially selective,” said Andrew Lis, GVR’s director of economics and data analytics. “On a year-to-date basis, sales in 2025 rank among the slowest to start the year in the past decade, closely mirroring the trends seen in 2019 and 2020. It’s worth noting that sales rebounded significantly in the latter half of 2020, but whether sales in 2025 might follow a similar pattern remains the million-dollar question."

Andrew Lis, REBGV director of economics and data analytics

There were 6,620 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2025. This represents a 3.9 per cent increase compared to the 6,374 properties listed in May 2024. This was 9.3 per cent above the 10-year seasonal average (6,055). 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,094, a 25.7 per cent increase compared to May 2024 (13,600). This is 45.9 per cent above the 10-year seasonal average (11,718). 

Across all detached, attached and apartment property types, the sales-to-active listings ratio for May 2025 is 13.4 per cent. By property type, the ratio is 10.2 per cent for detached homes, 17.4 per cent for attached, and 14.7 per cent for apartments. 

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. 

“With some of the healthiest levels of inventory seen in years, many sellers are adjusting price expectations, which has provided buyers more negotiating room and kept a firm lid on price escalation over the past few months,” Lis said.

“From a seasonal perspective, sales in the summer months are typically quieter than the spring, but with such an unusually slow spring, we may have an unusually busy summer with so many having delayed their purchasing decisions. Either way, the market continues tilting in favour of buyers, which bodes well for anyone looking to make a purchase this summer.” 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,177,100. This represents a 2.9 per cent decrease over May 2024 and a 0.6 per cent decrease compared to April 2025. 

Sales of detached homes in May 2025 reached 654, a 22.7 per cent decrease from the 846 detached sales recorded in May 2024. The benchmark price for a detached home is $1,997,400. This represents a 3.2 per cent decrease from May 2024 and a 1.2 per cent decrease compared to April 2025. 

Sales of apartment homes reached 1,087 in May 2025, an 18.8 per cent decrease compared to the 1,338 sales in May 2024. The benchmark price of an apartment home is $757,300. This represents a 2.4 per cent decrease from May 2024 and a 0.7 per cent decrease compared to April 2025. 

Attached home sales in May 2025 totalled 469, a 10.3 per cent decrease compared to the 523 sales in May 2024. The benchmark price of a townhouse is $1,106,800. This represents a 3.4 per cent decrease from May 2024 and a 0.4 per cent increase compared to April 2025.

^* Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

Download Full PDF

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

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale

Totally valid question, however, the answer i gave her was that cliche answer that not a lot of people like hearing. The answer of, we'll cross that bridge when we get there.

Now i get it, we all need to get into our new home in a timely manner. We booked trucks that costs us money by the hour, we have friends that are planning to help us out on their time off.

However, we do have a certain level of trust that we need to have with the other party.   This kind of trust is built pretty much right when you book an appointment to see this property, and builds all the way up from the initial showing, to dealing with the offer and so forth.

Now, in this situation, everything was smooth, from the first call to the key handover.  And really, i wasnt worried at all that the key handover was going to have any issues. 

However, i have been on both ends of not so savvy possession dates, and yes, sometimes unexpected things do happen.  We've seen moving trucks not show up, lack of preparedness, with outcomes of garbage left at property, unclean property or people not moving out at the time they were supposed to.  

So, how do you deal with this?  

Mainly with an open dialogue that happens way before completion date.  And, if an open dialogue wasnt really there, you may want to gauge how smoothly the transaction went so far. 

Now, with my clients transaction in particular, the process went entirely smoothly.   But if there was a hiccup in their process, we would have been all ears.

However, if you were dealing with someone that was a little bit of a pain during the showing process, you can probably predict they would probably be a little bit of a pain in the offer process.  And if they were a bit of a pain in the offer process, you can probably predict they'll be a little bit of a pain during subject removal.  And so on....so you can see where I'm going with this.  

If that was the case, then i could advise my clients on what would happen if the key handover went sideways.  And yes, theres different recourses for different situations.

So, we got the keys, property was unaimagineably clean.  Just as i sensed it would be.  But even though i do have an inventory of recourse, i don't like talking about that with my client if i do sense that we're not going to have any issues or simple dialogue will diffuse the situation.