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.