Metro Vancouver home sales and listings surge in September

 

VANCOUVER, BC – October 2, 2020 – Home sale and new listing activity reached recordlevels in Metro Vancouver* in September.The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,643 in September 2020, a 56.2 per cent increase from the 2,333 sales recorded in September 2019, and a 19.6 per cent increase from the 3,047 homes sold in August 2020.Last month’s sales were 44.8 per cent above the 10-year September sales average and is the highest total on record for the month.“We've seen robust home sale and listing activity across Metro Vancouver throughout the summer months," Colette Gerber, REBGV Chair said. "This increased activity can be attributed, in part, to lower interest rates and changing housing needs during the COVID-19 pandemic. While the pace of new MLS® listings entering the market is increasing, the heightened demand from home buyers is keeping overall supply levels down," Gerber said. "This is creating upward pressure on home prices, which have been edging up since the spring."For the market update video by Real Estate Board, please click here.




We have more detailed information on markets outside of the North Shore as well. Please contact us for a comprehensive update on any other location. 

For a better understanding of this quickly changing and dynamic real estate market, please contact Paul and Brenda. Whether buying or selling, our goal is to make the process as enjoyable and stress free as possible. We are focused on achieving the best possible outcome for you and your family in all of your current and future real estate needs. 


*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.