How the Vancouver real estate sales are being impacted by the pandemic
To recap, March started off strong with strong demand and low levels of listings. We were seeing quite a few properties go into multiple offers, and a price pressure on Vancouver’s Eastside in respect to houses, condos, and townhouses. Emergency measures came into effect mid-March, and of course we saw the Vancouver market impacted.
A lot of sales came through towards the end of March to early April, likely from negotiations already in progress around the same time as the emergency measures. We likely won’t know the true impact of the pandemic until the end of April.
What does this mean for buyers and sellers in the Vancouver market?
We have noticed that the buyers are serious about looking to buy, and sellers are moving forward with their property sales –primarily vacant or land value properties, and less owner occupied. Owner occupied properties already listed have been removed due to social distancing.
Real estate questions
If you have questions, Jill and I continue to market all our properties with safety in mind, offering virtual open houses and tours. Feel free to give us a call at 604-657-7936.
Hope everyone is staying safe, and a big shoutout to the frontline workers!