"INSIDERS" Newsletter: What's The Current Important News?

(May 18, 2020 )

Our Provincial Government has announced a restart plan for our economy and have rolled out Phase 2 onward in response to COVID-19. There are many people who have questions about how this will be rolled out? How will public safety be upheld? What does this mean for our economic recovery? See further details below.

As your real estate professionals, we're paying close attention to all these details and we're tracking "real-time" market stats, so that we can give you a clear picture of what’s happening in our local real estate environment.

From May 1st - 15th, the Greater Vancouver Real Estate Market is seeing increases in the average selling price, no. of sales, gross sales $, and no. of active listings when compared to a similar period last month, perhaps an early indicator that the is market returning to more normal conditions. 

However, when compared to the same period in May 2019, sales (total units and gross sales $) remain at least -72% lower, supply remains tight with at least -29% fewer active listings on the market, while the average selling price remains steady across all segments of the residential market.As promised, here's our Greater Vancouver Mid-Month "Snap Shot" for May 1st through May 15th 2020:

Starting this week, it's a BIG milestone for B.C. as we enter Phase 2 of the Restart Plan. See brief details of this planned multi-phased roll out below.

Our Government (at all levels) continues to review Policy and respond accordingly, here's some of the most recent Announcements:

If you have further inquiries on how the real estate market may pertain to your unique situation, please don’t hesitate to reach out to us. We're here to help!

Stay safe. Stay healthy. Stay happy. Stay informed. 

Thank you for being part of our success!




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