OCTOBER 2020 Market Update

HOME SALES and NEW LISTINGS were at near record levels in OCTOBER 2020 across Metro Vancouver.


Greater Vancouver Sales:

Up 29% over October 2019

Up 1.2% from September 2020

Up 34.7% above 10 year October average


Metro Vancouver benechmark price for a detached home is $1,045,100.


WHY?


*potentially a focus on the importance of home due to the pandemic, for work and safety

*pent up demand from a slower spring market due to the pandemic

*low interest rates


Is it a good time to BUY?

It depends on what you are looking for. There are more properties for sale so more choice. Some markets are slower like the 1 bedroom condo in Vancouver. Some markets are very busy such as detached homes on the east side, especially under $2,000,000 and under $3,000,000 on the west side of Vancouver.


Let me know what you are looking for and I can tell you what is going on in that pocket!

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