February 2020 Real Estate Market Update

February 2020 Real Estate Market Update

The February market trends is indicating that we are moving towards a seller’s market. The sales the prices are starting to go up in particular areas and the purchasers took advantage of this opportunity before they would become unaffordable.

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Let’s take a look at the residential activities in Greater Vancouver in February:

• 3,997 new listings were added this month, which is a 4% increase compared to last month, and a 3% Decrease from last February.
• 2,147 properties were sold this month, which is an 37% decrease compared to January, and a 45 % increase from last year./li>
• The ratio in February was 23%, a 5% increase compared to January, and an 10% increase from last year.

Understanding the market trends and the market types (Buyer’s market, Seller’s market, and balanced market) are the two key factors to consider before a real estate transaction. Knowing when to sell, buy, or more importantly, knowing when to hold all actions for the right moment, can make the biggest investment of your life the most profitable one. Vivid Real Estate market report will provide you with all these market types and much more, allowing you to make an informed decision about the next steps you could take in the real estate market.

Wondering if now is a good time to buy or sell?

Contact me today to get more information on the market situation, and let me help you determine the best call of action.