The last 12 weeks have been challenging and concerning in all areas of our communities. I have not published any articles since April 16th, 2020. It did not feel right to be posting articles outlining how the Vancouver real estate market was fairing during a pandemic. To me there was a much larger and more important matter, that being COVID-19. Starting a few days ago our city and communities have started to slowly re-open. I am hopeful that we as a community and a city can stay safe and healthy as we move towards the coming months of 2020.
The previous 12 weeks of the Vancouver real estate market have presented a list of dynamics that I could never have dreamed of:
- Two-page questionnaire to be signed off by any buyer requesting to view a listing.
- Masks required.
- Gloves required.
- Buyers are not to touch anything – listing agent to open any doors etc.
- 70% alcohol cleansing of hands before entering.
- No more than two buyers to view a property at a given time.
- No Open Houses.
- Virtual Opens only.
During these unprecedented times many homeowners wanting to sell, took their properties off the market. This drastically lowered the total number of listings offered for sale. We expected prices to fall during COVID-19 / Quarantine but due to a continuing demand prices have remained stable to date.
Detached houses in sought after locations on the East Side (Main, Mount Pleasant, Grandview Woodlands), West Side (Kitsilano), North Vancouver (Lynn Valley, Central Lonsdale) have being very active followed by Downtown condos and East Van condos in the affordability price range. Lack of supply, moderate demand and low interest rates are driving factors in our current market.
Below are the current sales figures for the past 30 days.
0 to 14% Buyers Market 15% to 20% Balanced Market 21% plus Sellers Market
Vancouver Downtown, West End, Coal Harbour & Yaletown
| Listings | Sales | Sales to Listings |
| 673 | 95 | 14% |
Vancouver West Side Detached Houses
| Listings | Sales | Sales to Listings |
| 435 | 52 | 12% |
Vancouver West Side Condominiums and Townhouses
| Listings | Sales | Sales to Listings |
| 740 | 113 | 15% |
Vancouver East Side Detached Houses
| Listings | Sales | Sales to Listings |
| 357 | 64 | 18% |
Vancouver East Side Condominiums and Townhouses
| Listings | Sales | Sales to Listings |
| 412 | 92 | 22% |
North Vancouver Detached Houses
| Listings | Sales | Sales to Listings |
| 257 | 51 | 20% |
North Vancouver Condominiums and Townhouses
| Listings | Sales | Sales to Listings |
| 381 | 82 | 22% |
West Vancouver Detached Houses
| Listings | Sales | Sales to Listings |
| 349 | 30 | 9% |
West Vancouver Condominiums and Townhouses
| Listings | Sales | Sales to Listings |
| 121 | 14 | 12% |
In summary, real estate prices did not decrease over the months of April, May and the first two weeks of June. Please call me if you would like any further information. I am always happy to hear from you.
Don Urquhart
Macdonald Realty
Direct 604 787 1210
Email [email protected]