Vancouver Real Estate Market Update For September 2021!

This is the end-of-summer recap for the Vancouver real estate market. Find out all about it in this month's video.

This is your Vancouver real estate market update for September, 2021 and we’re getting into 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.

The last 2 months was the 1st time in 2 years that I’ve missed a market update video. I apologize and I’m happy to be back. In today’s video, I’m going to cover what’s happened in the Vancouver real estate market through the month of August, what might be coming that could affect that market and a piece of technology I utilize 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 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 dive into it. July sales saw a 3.4 percent increase from the sales recorded in August 2020 and a 5.2 percent decrease from the homes sold in July 2021. Last month’s sales were 20.4 percent above the 10-year August sales average while August’s new listings total saw a 30.6 percent decrease compared to August 2020 and a 7.9 percent decrease compared to July 2021.

August was busier than expected, and listings activity isn’t keeping up with the pace of demand. This is leaving the market undersupplied. Housing supply is the biggest factor impacting the market right now. To help relieve pressure on prices and improve peoples’ home buying options, the market needs a more abundant supply of homes for sale.

What I’ve seen over the past 2 months in my own business is that whether I’m working with buyers or with my own listings, buyer demand is still strong and multiple offers continue to persist. Home sales remain above average and we’re starting to see price increases relent as well. Going forward, the supply of homes for sale will be among the most critical factors to watch. This will determine the next direction for house price trends.

If you want to stay on top of the market, whether you’re buying or selling a home, knowledge is key and the Snap Stats market reports are a fantastic 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, down in the description section 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?

You may have noticed we have a federal election soon and every major party has put housing affordability on their agenda and in their talking points. I’m not going to go into each of the party’s platforms regarding housing affordability but suffice it to say that whoever is elected this fall, their policies on housing affordability could have an impact on our market.

I also foresee an increase in sales volume rivaling the pre-summer numbers. It’s going to be a busy fall in my opinion and if you are needing to purchase a home in the next few months, I’d consider doing it sooner rather than later.

New Technology

One of the biggest headaches aside from buying or selling your home is moving. Once you have decided on that home purchase or you’ve sold your home you now have the monumental task of actually moving.

Moving Waldo is a moving app that can save you up to 10-hours of paperwork. It helps you organize your move, save time, saves you money, and helps streamline everything about your move because it allows you to book everything under one roof.

Need to get moving boxes? Done. Need to book movers? Done. Need to set up TV and Internet? Done. Need to insure your home, update your address, and connect your utilities? Done, done, and done!

There are also many more features right at your fingertips and the best part is Moving Waldo is 100% free.

Down in the description below is the link to Moving Waldo. I highly recommend using the app if you are moving soon or plan on moving in the near future.

Moving Waldo link.