Home sale and listing resurgence extends into the fall

VANCOUVER, BC – November 3, 2020 – Home sale and new listing activity remained at near record levels across Metro Vancouver* in October.The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region records a 29 per cent increase from October 2019, and a 1.2 per cent increase from September 2020.Last month’s sales were 34.7 per cent above the 10-year October sales average and stands 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.”“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."For the market update video by Real Estate Board of Greater Vancouver, 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. 

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Mortgage rates could be heading higher for first time in pandemic

Five-year fixed mortgage rates could be set to increase as early as this week for the first time since COVID-19 led to a  100-basis-point decline, according to multiple Canadian brokers who say lenders have warned them of the potential hikes.

Please visit the Province website for the full article.

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Holiday Activities in 2020

 

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