The first two weeks of March were the biggest of 2020, where multiple offers were becoming more and more common throughout Metro Vancouver. Even with COVID-19, the month saw steady activity and a 46.1% (+797) increase in home sales compared to March 2019.
Here are some other highlights from the report.
๐๐ฒ๐๐ฎ๐ฐ๐ต๐ฒ๐ฑ, ๐๐๐๐ฎ๐ฐ๐ต๐ฒ๐ฑ ๐ฎ๐ป๐ฑ ๐๐ฝ๐ฎ๐ฟ๐๐บ๐ฒ๐ป๐ ๐ฆ๐ฎ๐น๐ฒ๐ ๐จ๐ฝ
While a majority of home sales came in the early part of the month, overall sales were up for all housing-types.
There were 852 total ๐ฑ๐ฒ๐๐ฎ๐ฐ๐ต๐ฒ๐ฑ ๐ต๐ผ๐บ๐ฒ๐ sold in March 2020, which is a 61.1% spike from March of last year.
๐๐๐๐ฎ๐ฐ๐ต๐ฒ๐ฑ ๐ต๐ผ๐บ๐ฒ๐ saw 493 homes sold, which represented a 51.7% increase compared to last year.
A steady increase in the amount of ๐ฎ๐ฝ๐ฎ๐ฟ๐๐บ๐ฒ๐ป๐ ๐๐ฎ๐น๐ฒ๐ in the region, where 1,179 homes were sold, which was a 35.1% increase from March 2019โs 873.
๐๐ฒ๐ป๐ฐ๐ต๐บ๐ฎ๐ฟ๐ธ ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ป๐ฐ๐ฟ๐ฒ๐ฎ๐๐ฒ
The benchmark price for all residential properties in Metro Vancouver is currently at $1,033,700 – a 2.1% increase from March last year. Compared to February of this year, the median price saw a 1.3% increase.
๐ฅ๐ฒ๐ฎ๐น๐๐ผ๐ฟ๐ ๐ป๐ฎ๐บ๐ฒ๐ฑ โ๐๐ป ๐๐๐๐ฒ๐ป๐๐ถ๐ฎ๐น ๐ฆ๐ฒ๐ฟ๐๐ถ๐ฐ๐ฒโ
The province announced that realtors were on the list of essential services last week. While following a strict code of distancing and hygiene conduct, thereโs urgency amongst sellers to sell (below asking in some cases) in fear their home may not sell and buyers (who were going to buy at this time of year anyway) taking advantage of the lower interest rates.
