Market Analysis

In the midst of a worldwide pandemic and with virtually no foreign buyers, the 2020 Metro Vancouver housing market shattered sales records and set new highs for price increases.

The real estate market continues to thrive with home sales in November 2020 soaring past historical averages, with over 3,000 sales.

The market continues to outperform analysts predictions, as we experienced yet another stellar month of activity across Metro Vancouver.

Faith Wilson Group’s exclusive and comprehensive Market Analyses for September 2020 have arrived. The current trajectory of last 2 months in Vancouver real estate shows continual growth as sales increased over 56% compared to last September 2019. This increase is further shown from an almost 20% increase in sales from the month prior. In fact, […]

The Real Estate Board of Greater Vancouver reported that residential home sales in the Metro Vancouver area increased by 36.6 percent in August, recording 3,047 sales to exceed August 2019’s record of 2,231. There was a slight decrease in sales from July 2020, where 3,128 homes were sold in the region.

Faith Wilson Group’s exclusive and comprehensive Market Analyses for July 2020 have arrived. Home buyer and seller activity in Metro Vancouver* exceeded historical levels in July. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,128 in July 2020, a 22.3 per cent increase from the 2,557 […]

Sellers and Buyers have gradually become more active with each month passing from the mid March COVID-19 news. In fact, June home sales and listing activity in Metro Vancouver have returned to historically typical levels.

Recapping this last month of May 2020 in Vancouver real estate, we see that it has performed substantially in the same manner as the month previously – April 2020 – with a slight price increase of 1.4% and a 2.9% increase compared to last year May 2019.

Real estate activity in Metro Vancouver have been limited given COVID-19 and we are all adjusting to the new normal. While the number of sales reported by the Real Estate Board of Greater Vancouver (REBGV) is 39.4% less from last year, it is an expected decrease given social distancing measures being practiced. However, that does not mean people are not interested in Real Estate.

March came in like a lion as far as the Westside detached house market is concerned. The first weeks were already seeing the highest monthly transactions of the year and eclipsing the pace of March 2019 by nearly 60%.