The information below shows how the current COVID-19 quarantine is affecting our Vancouver real estate market. As we entered March of 2020 the real estate market was very active with most areas transitioning from a Buyers market to a Sellers market. Prices were increasing in the affordability sectors and new listings in sought after locations were receiving multiple offers resulting in sale prices over the asking price. As soon as we entered the later part of March the COVID-19 pandemic was affecting our global economy in unprecedented ways. As I type we are now in week four of quarantine here in Canada. The sales numbers below are up to the minute and will give good incite to where our local real estate market is in relation to activity. It is too early to tell how much prices have been affected but as soon as I have enough data I will post the figures. Please feel free to call me for more specific information. I am always happy to hear from you.
Percentages are measured from the first 16 days of March to the last two weeks of April.
Vancouver Downtown, Yaletown, West End, Coal Harbour
Price Range | March 1st-16th | March 17th-31st | April 1st-14th |
0 – $1,000,000 | 79 | 44 | 31 (-39%) |
$1,000,001 – $2,700,000 | 22 | 19 | 8 (-36%) |
$2,700,001 – up | 4 | 3 | 0 (-100%) |
Vancouver West Side Detached House Sales
Price Range | March 1st-16th | March 17th-31st | April 1st-14th |
0 – $2,500,000 | 14 | 18 | 6 (-42%) |
$2,500,001-$5,000,000 | 22 | 19 | 7 (-31%) |
$5,000,001 – up | 2 | 0 | 0 (-100%) |
Vancouver West Side Condominium and Townhouse Sales
Price Range | March 1st-16th | March 17th-31st | April 1st-14th |
0 – $1,000,000 | 66 | 48 | 22 (-33%) |
$1,000,001 – $2,000,000 | 40 | 30 | 9 (-22%) |
$2,000,001 – up | 3 | 0 | 0 (-100%) |
Vancouver East Side Detached House Sales
Price Range | March 1st-16th | March 17th-31st | April 1st-14th |
0 – $1,750,000 | 47 | 36 | 22 (-46%) |
$1,750,001 – $2,500,000 | 12 | 12 | 4 (-33%) |
$2,500,001 – up | 11 | 8 | 4 (-36%) |
Vancouver East Side Condominium and Townhouse
Price Range | March 1st-16th | March 17th-31st | April 1st-14th |
0 – $800,000 | 74 | 58 | 24 (-32%) |
$800,001 – $2,500,000 | 14 | 14 | 6 (-42%) |
$2,500,001 – up | 0 | 0 | 0 (-100%) |
North Vancouver Detached House Sales
Price Range | March 1st-16th | March 17th-31st | April 1st-14th |
0 – $1,750,000 | 33 | 20 | 14 (-42%) |
$1,750,001 – up | 17 | 6 | 5 (-29%) |
North Vancouver Condominium and Townhouse Sales
Price Range | March 1st-16th | March 17th-31st | April 1st-14th |
0 – $1,000,000 | 61 | 42 | 22 (-36%) |
$1,000,001 – up | 16 | 14 | 6 (-37%) |
West Vancouver Detached House Sales
Price Range | March 1st-16th | March 17th-31st | April 1st-14th |
0 – $2,500,000 | 18 | 4 | 3 (-22%) |
$2,500,001 – up | 11 | 7 | 7 (-6%) |
I have been a Vancouver real estate agent for 33 years and have gained a lot of knowledge on how to navigate changes in our real estate market. If you have a question please call or email me.
I will continue to give you updates as we move forward.
Don Urquhart
Macdonald Realty
Direct 604 787 1210
email [email protected]