March 2020 Market Update

 

March home sales are looking brisk in Vancouver

Sales have been brisk throughout the market, especially in the lower end of the market.

Prices in general are higher than they were 6 months ago.

There is a shortage of inventory, leading many houses to go into multiple offers, especially in the lower end of the market.

The lower end of the real estate market in Vancouver

The properties under 2 million have been selling very well, with most places going into multiple offers and selling for above asking price. There are a lot of buyers looking.

Buyers need to get organized with financing to be competitive in multiple offer situations.

If you are looking for some tips to add a lot of value to your home before putting it on the market without spending a lot of money give us a call.

Effects of Covid 19 on the Vancouver real estate market

There is no impact yet from covid 19, it still seems to be business as usual for now.

We are likely to see some impact in the next quarter, but this may be offset by the new lower interest rates and lowered stress tests.

Interest rates may be lowered again, things remain uncertain going into the next quarter.

I want to sell my house, where do I start?

If you are thinking about selling your house we can recommend a number of strategies to help you do this, and Jill or I would both be happy to meet with you to discuss some of these.

Pride of ownership goes a long way, and if you have been taking good care of your home it will be better positioned in the market.

As always, we are evailable for a no obligation home evaluation, just click below to talk to either myself or Jill.