March home sales and new listings set records in Metro Vancouver. Home buyer and seller activity reached unprecedented levels across Metro Vancouver.
In March, residents bought and listed homes across our region at levels not seen before. This surge in activity is increasing upward pressure on prices. We’re beginning to see double-digit price gains for single-family homes and townhomes over the last 12 months.
While we did see a record number of listings enter the market last month, the demand in today’s market isn’t allowing that new supply to accumulate. As a result, the overall inventory of homes for sale decreased compared to last year.
The current market is exciting and fast-paced and requires creativity and skill to navigate.
If you’re thinking of buying or selling real estate, please give me a call.
Victor Song PREC*
Royal LePage Sterling Realty