REBGV Stats - January 2020

The numbers do not look exciting but they will!

We ended 2019 with the best 4 quarters in almost 2 years plus! There are a bunch of sales from January that will show up in February, and the market for under $1m condos is on fire in Van West and Van East for quality product under 10 years old and we are seeing multiple offers, increases in value, and above ask and above market value offers. Prices are going up in some subareas and will most likely continue to do so!

In some subareas, even over 10 years old, there are multiples happening and the activity is increasing rapidly. The buyers are out there hunting and the supply is low! 

The single family housing segment is also showing good signs of activity again, area dependant, with some amazing deals for buyers out there as well as some solid values for sellers that were not there 1 year ago! 

This low supply is causing upward market pressure and I feel that this will continue throughout 2020. 

Commercial properties have seen stabilization through 2019, and going into 2020, I feel the activity will pick up, as we are already seeing some very sales coming out of the 4th quarter of 2019, and in Jan 2020. 

Ignore your BC Assessments as they are NOT reflective of the market value of your property! Your property is possibly worth MORE than you think. 

Full report here: Market Watch