Vancouver Real Estate Market Update For April 2020

A 46.1% increase in sales from March 2019 to March 2020. COVID-19 happened! And, a look at how agents are assisting buyers and sellers during these unprecedented times! Plus 2 guests in this episode. Find out what it all means in this month's video.

Hey, everyone. I’m Craig Veroni with RE/MAX Masters Realty. I’m your local real estate agent here in Vancouver, BC.
In today’s video, I’ll be accompanied by my colleagues, Karen Gibbard and Dez Tsourpi and we’re going to cover what’s happened in the Vancouver real estate market in the month of March, what’s coming that could affect the market, and a piece of technology I’m utilizing to make your home selling and buying experience a smoother one. I shoot a ton of videos about what it’s like to live, love, and own here in Vancouver so, if you haven’t yet, please subscribe to my channel, hit that thumbs up button and don’t forget to click on that bell so you can be notified immediately when I have a new video out. I really want you to be able to stay up to date on all the latest tips and insights into the Vancouver real estate market so you can become an expert too.

So, let’s dive into it. There was a 46.1% increase from the sales recorded in March 2019 to those recorded in March 2020. This is significant given that the 2nd half in March is when we all went into lockdown. There was a 17.4 % increase from the homes sold between February and March 2020. Looking at the broader view, last month’s sales were still 19.9 % below the 10-year March sales average. The first two weeks of the month were the busiest days of the year for our region with heightened demand and multiple offers becoming more common and like many other aspects of our lives, this changed as concerns over the COVID-19 situation in our province grew. Daily residential sales on the region’s MLS® were 138 on average in the first ten business days of the month. In the final ten business days of the month, the daily average declined to 93 sales. Many of the sales recorded in March were in process before the provincial government declared a state of emergency so we’ll need more time to pass to fully understand the impact the pandemic is having on the housing market.

When you’re looking for a home knowledge is key and the Snap Stats market reports are a great way to arm yourself with tons of knowledge on your market area. To download the full market reports simply click on the images below to get either the Metro Vancouver or Greater Vancouver reports. If you’re watching this on Youtube, in the description section below is a link to a sample report which I send to my clients on a monthly basis. You can review that and if it’s something you find of value, and trust me you’re going to love these reports, you can simply fill out your name and email address to start receiving the reports monthly.

New Technology. This pandemic has left many agents scrambling to find ways to connect with their clients, show homes to buyer’s virtually and market homes with video and 3-D virtual tours. For those agents like myself who have employed all of these tools and technologies in their business for years, the transition has been seamless. Don’t get me wrong, I grieving the current situation just like you. I would much rather be out and about, meeting with my clients and showing homes. My business, however, is completely set up to continue operating at 100% capacity during this pandemic. I like many other REALTORS® have been working to help and guide my clients through this uncertain period. Many people have understandably chosen to put their home buying or selling plans on hold for now. Other people have more urgent housing needs and we’re trying to work with them to address these needs in the safest and most responsible way possible. This means if you need to list your home right now or in the next month, The professional photos, floor plans, cinematic listing videos, and 3-D virtual tours I shoot for every listing will help set your home apart. I’m also run a paperless office so, I’m set up to do video conferencing and electronic signatures for any buyer and their agent who may be interested in your home. For buyers, long before this pandemic hit, I would go and do a video walkthrough of a home for my buyers if they lived out of town and couldn’t physically be there or if there was no video of the home by the listing agent. So, if your housing needs are urgent, give me a call. I’d be honoured to assist you.

I’m Craig Veroni with RE/MAX Masters Realty. I’m your local real estate agent here in Vancouver. If you’re moving or planning on moving to the Metro Vancouver area soon and want to know more about specific neighbourhoods, I’ve shot a ton of neighbourhood videos around Metro Vancouver and will be shooting many more areas in the coming months so, be sure to subscribe to my channel so you don’t miss a thing.

That’s a wrap, folks! I hope you’ve enjoyed this month’s market update. If so, please hit that thumbs up button and give this video a like and make sure to leave a comment down below.

Thanks for watching. I’ll see you next month. And remember, this is where you Live. Love. Own Vancouver!