Real Estate Market Update In B.C. - March 2020
Sales Growth over The Last Year and March 2020
Despite the very unfortunate occasion of COVID-19 outbreak, the March property sales showed strong growth over the last year, with the help of the transactions in the first half of the month.
In March, 2,524 properties were sold, which is a 46% increase over March 2019. This figures also show a 17.4% increase over the sales from last month (February 2019).
Sales increases are recorded in every housing category(compared to March 2019 prices) such as: Detached Homes (61% increase), Condos (35% increase) and Townhomes (51% increase).
The prices showed a small increase over the last year as well, 0.7% to 2.9% increases in different categories.
With the social distancing and other precautions advised by the government and health authorities, the open sales activities stopped, and the total sales dropped in the second half of March.
The BC Government listed the real estate among the essential services, which means that we will continue to offer services to meet the housing and shelter needs of the community.
JOVI offices will be open and operational during this period. Although the open house activities are now on hold, showings are done by appointment base.
Stay Home, Stay Safe!