Buyer confidence is back and the market is picking up!
We are coming off a very interesting and abnormal year in Greater Vancouver Real Estate. Last year started off very slow! In March the headlines read ‘Vancouver home sales hit 33 year low!’ However, as the year progressed, buyer activity increased. July was the turning point where sales started outperforming the previous year and we finished the year off very strong with home sales in December up 88% compared to 2019 and above the 10 year average.
We expect a busy year ahead and a significant increase in single family home sales. It’s early in the year, but so far we have experienced more multiple offers and quicker sales.
What does this mean for your home?
Inventory is low to start the year and there are lots of buyers looking to make the jump from strata to single family in New Westminster! Our recent sale at 220 Durham St, at the end of January, received 4 offers in 2 weeks on market and sold full price subject free!
Contact us to see what your home is worth today!