Vancouver Real Estate Market Update For October 2020!

A 56.2% increase from the sales recorded in September 2019, a 19.6 % increase from the homes sold in August of 2020, and last month’s sales were 44.8 % above the 10-year August sales average. Find out what it all means.

This is your Vancouver real estate market update for October 2020 and we’re getting after it right after this.

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’m going to cover what’s happened in the Vancouver real estate market in the month of September, what’s coming that could affect that market, and a piece of technology I’m using to make your home purchase or sale a smoother one. I also have special guest, Jordan Thomson with Citywide mortgages making an appearance.

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 hit that subscribe 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 get into it. There was a 56.2% increase from the sales recorded in September 2019 and a 19.6 % increase from the homes sold in August of 2020. Last month’s sales were 44.8 % above the 10-year September sales average.

Forget about still being in the middle of a pandemic, those are strong market conditions anytime. As I’ve mentioned in previous updates, We've seen robust home sale and listing activity across Metro Vancouver throughout the summer months and this increased activity can be attributed, in part, to lower interest rates and changing housing needs during the COVID-19 pandemic.

So, while the pace of new MLS® listings entering the market is increasing, the heightened demand from home buyers is keeping the overall supply levels down. This is creating upward pressure on home prices, which have been edging up since the spring.

When you’re buying or selling 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 the Metro Vancouver, Greater Vancouver, or, Fraser Valley 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. Feel free to 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.

What’s Coming?

Check out the video to see my interview with Jordan Thomson.

New Technology

As I mentioned earlier, whether you’re buying a home right now and especially if you’re selling your home soon you want to have access to the most information and do as much research as possible. My website gives you all the tools you need to do just that.

On my website, not only can you search for homes in any area but you can also search SOLD listing data for any area as well.

This is incredibly useful for both sellers and buyers. Down in the description below is the link to that functionality on my website. Make sure you check it out.

If you are thinking of selling your home, be sure to reach out to me for an in-depth market evaluation of your home and let me show you how I market my listings like they’re an HGTV show.