October 2020 Market Update

Market Update Home sale and listing resurgence extends into October 2020

From the Real Estate Board of Greater Vancouver, Nov 03, 2020

Home sale and new listing activity remained at near record levels across Metro Vancouver in October. For the Real Estate of Greater Vancouver’s October 2020 Market Update Click here

The Real Estate Board of Greater Vancouver reports that residential home sales in the region totaled 3,687 in October 2020.

a 29% increase from the 2,858 sales recorded in October 2019.
1.2% increase from the 3,643 homes sold in September 2020.

Last month’s sales were 34.7% above the 10-year October sales average. Standing as the second-highest total on record for the month!

“Home has been a focus for residents during the pandemic. With more days and evenings spent at home this year, people are re-thinking their housing situation,” Colette Gerber, REBGV Chair said. “Throughout this period, REALTORS® have been working to understand and adapt to the latest safety protocols so that they can continue to help the public meet their housing needs in a safe and responsible way.”

5,571 detached, attached and apartment homes were listed for sale on the Multiple Listing Service® in Metro Vancouver in October 2020. Representing a 36.7% increase compared to the 4,074 homes listed in October 2019 a 13% decrease compared to September 2020 when 6,402 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,416.

a 1.5% increase compared to October 2019 (12,236)
5.2 % decrease compared to September 2020 (13,096).

“With demand on the rise, homes priced right for today’s market are receiving attention and, at times, garnering multiple offers,” Gerber said. “To understand the market conditions in your neighbourhood and property type of choice, work with your local REALTOR® to assess the latest MLS® housing market information.” Call Geoff Jarman at 604 313 7280.

The FULL REPORT Click here

Listing information, SELLERS PROCEDURES
Purchasers, BUYERS PROCEDURES

Stay Safe and if you have any questions regarding October 2020 Market Update CONTACT US

Note:

Areas covered by the Real Estate Board of Greater Vancouver include: 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.

SELLERS COVID- 19 procedure

We developed a Sellers COVID-19 procedure to follow as we want everyone to be safe because we understand the importance of Selling your home. Real Estate services are essential non-health services. Now our showing procedure adheres to the BC Centre for Disease Control’s prevention and physical distancing guidelines. Adding another layer with questioning we have an aggressive qualification process. Our goal is that all showings are warranted & productive with a possible positive result. Sellers have the right to refuse an appointment, at anytime.

Before we will show your home the Buyer’s Realtor needs to answer the following questions, agree to our showing terms and fill out the Sutton Waivers.

QUESTIONS:

Has the Buyer researched the location, and driven by it, to ensure that the most basic criteria are being met?
Did the listing, and additional information such as the photos, floor plan, virtual tour, website write up, & information package meet their criteria?
Does the Buyer have any questions that we can answer before the showing to ensure that his home is meeting their criteria?
Is the Buyer’s financing in place?

SHOWING PROCEDURE TERMS:

Health Inquiry, the Sutton self assessment waiver and Buyer waiver will need to be filled out. Anyone who appears to be sick, even if it is allergies, will not be permitted into the home.
All decision makers need to be present at the showing, and no others will be permitted into our Seller’s home. Children should not attend the showing as they will not be permitted in the home.
Everyone must remove their shoes outside of the home.
As we show the home everyone must practice social distancing.
No one will be permitted to wander in the home and all must stay with us.
There will be no touching or sitting on anything. Your bathroom will not be used.
We open all closets, doors and are the only ones permitted to touch anything in your home.
Your home will be wiped down after the showing is complete.

For those that are buying, BUYERS PROCEDURES

March 2020 Market Update during COVID-19

Your health is important to us! Stay Safe, and if you have any questions CONTACT US