Vancouver Real Estate Market Update – June 2020
Dear Reader,
VANCOUVER, BC – July 3, 2020 – Home buyers and sellers have gradually become more active in each month of the COVID-19 pandemic. In June, home sale and listing activity in Metro Vancouver* returned to more historically typical levels.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 2,443 in June 2020, a 17.6 per cent increase from the 2,077 sales recorded in June 2019, and a 64.5 per cent increase from the 1,485 homes sold in May 2020.
Last month’s sales were 21.9 per cent below the 10-year June sales average.
“REALTORS® continue to optimize new technology tools and practices to help their clients meet their housing needs in a safe and responsible way,” Colette Gerber, REBGV Chair said “Over the last three months, home buyers and sellers have become more comfortable operating within the physical distancing and other safety protocols in place.”
“Much more of the real estate transaction is happening virtually today. Before considering an in-person showing, REALTORS® are helping potential buyers pre-screen homes more thoroughly by taking video tours, reviewing floorplans and an increased number of high-resolution images, as well as often driving through the neighborhood.”
Are you or anyone you know thinking of Selling, Buying, or Both? Please call/text Alex at 604-374-5534 for a brief conversation to discuss options. Knowledge is value.