{"id":4437,"date":"2021-02-16T17:42:35","date_gmt":"2021-02-17T01:42:35","guid":{"rendered":"https:\/\/www.yaorealestate.com\/?p=4437"},"modified":"2021-03-10T16:04:05","modified_gmt":"2021-03-11T00:04:05","slug":"market-update-march-2021","status":"publish","type":"post","link":"https:\/\/www.yaorealestate.com\/market-update-march-2021\/","title":{"rendered":"Vancouver Real Estate Market Update &#8211; March 2021"},"content":{"rendered":"<h3 style=\"text-align: center;\">VIDEO:\u00a0 Vancouver Real Estate Market Update &#8211; March 2021<\/h3>\n<p>&nbsp;<\/p>\n<div class=\"entry-content-asset videofit\"><iframe loading=\"lazy\" title=\"Vancouver Real Estate Market Update - March 2021 | Alex Yao PREC\" width=\"720\" height=\"405\" src=\"https:\/\/www.youtube.com\/embed\/pXEnIulZrL8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/div>\n<p>&nbsp;<\/p>\n<p>Dear Reader,<\/p>\n<p>Vancouver Real Estate Market is at a level never seen before!\u00a0 Market is so hot right now, that if you are looking to Sell, don&#8217;t wait!!\u00a0 Yes, price may be driven higher in a few months time, but more supply will also be coming out.\u00a0 In a market like this, it may be wise to buy a new home first, then sell your current home.<\/p>\n<p><strong>From the Real Estate Board of Greater Vancouver:<\/strong><\/p>\n<p>VANCOUVER, BC \u2013 March 2, 2021 \u2013 Competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver\u2019s* housing market.<\/p>\n<p>The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,727 in February 2021, a 73.3 per cent increase from the 2,150 sales recorded in February 2020, and a 56 per cent increase from the 2,389 homes sold in January 2021.<\/p>\n<p>Last month\u2019s sales were 42.8 per cent above the 10-year February sales average. \u201cMetro Vancouver\u2019s housing market is experiencing seller\u2019s market conditions. The supply of listings for sale isn\u2019t keeping up with the demand we\u2019re seeing,\u201d Colette Gerber, REBGV Chair said. \u201cCompetition amongst home buyers is causing multiple offer situations and upward pressure on prices.<\/p>\n<p>\u201cLow interest rates remain a key driver in today\u2019s market. We\u2019re seeing steady numbers of first time home buyers and move-up buyers entering the market,\u201d Gerber said.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-4559 aligncenter\" src=\"https:\/\/www.yaorealestate.com\/wp-content\/uploads\/2021\/02\/Capture-360x283.jpg\" alt=\"\" width=\"500\" height=\"393\" data-id=\"4559\" srcset=\"https:\/\/www.yaorealestate.com\/wp-content\/uploads\/2021\/02\/Capture-360x283.jpg 360w, https:\/\/www.yaorealestate.com\/wp-content\/uploads\/2021\/02\/Capture-750x590.jpg 750w, https:\/\/www.yaorealestate.com\/wp-content\/uploads\/2021\/02\/Capture.jpg 909w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Over the last few months, the market has accelerated tremendously.\u00a0 For those that have been down about purchasing during the last run in 2016-2018, and he downturn in 2019, we have been advising you to hold off on selling and &#8220;cutting your losses&#8221;.\u00a0 Until now.\u00a0 If you held off that long, you will be rewarded for your patience.\u00a0 We are seeing anywhere from 5-15 offers on every home we have sold recently, driving to area record prices.<\/p>\n<p>The market is reaching a bit of an unpredictable territory right now.\u00a0 Vaccines are slowly rolling out.\u00a0 People are getting more comfortable.\u00a0 Prices are rising due to extremely low supply and low interest rates.\u00a0 What will happen in the Spring when more supply comes out?\u00a0 At this rate, prices should continue to pick up for a while, although the acceleration may slow down slightly.<\/p>\n<p>What&#8217;s the difference between the market rise of 2021 and that of 2016-2018?\u00a0 Zero government intervention.\u00a0 Due to COVID restrictions, the government and media cannot say anymore that it&#8217;s due to foreign money.\u00a0 These are genuine local tax-paying voting public, like you and me, who simply need more space now that we are working more from home and doing more activities at home.\u00a0 The government isn&#8217;t going to start taxing their voting body, especially during a pandemic when jobs are lost, wages diminished, etc.\u00a0 We will see a free market in the next little while, so if you are looking to buy, it&#8217;s best to do it as soon as possible.\u00a0 Be thoroughly prepared.\u00a0 And if you are looking to sell for top dollar by taking advantage of the market?\u00a0 Call me.<\/p>\n<p><strong>Looking to sell or move in the near future?\u00a0 Please reply to this email and I&#8217;d be happy to discuss it with you!\u00a0 I truly would love the opportunity to work with YOU!<\/strong><\/p>\n<p>Please click below links for your complimentary\u00a0updated Vancouver Real Estate statistics package.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><a class=\"btn btn-lg btn-primary\" href=\"https:\/\/mcusercontent.com\/777c684ad3d3eb63b0df8e318\/files\/a9f0ae70-c875-442f-afb5-94c2fccef609\/REBGV_Stats_Pkg_February_2021.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Detailed Real Estate Board Statistics Package<\/a><\/p>\n<div class=\"row\">\n<div class=\"col-md-6\" style=\"text-align: center;\">\n<p><a class=\"btn btn-lg btn-action\" href=\"https:\/\/mcusercontent.com\/777c684ad3d3eb63b0df8e318\/files\/0314d1d2-0c2e-415b-813f-6e030c79fa8e\/MVR_2021_February.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Snap Stats &#8211; Metro Vancouver<\/a><\/p>\n<\/div>\n<div class=\"col-md-6\">\n<p style=\"text-align: center;\"><a class=\"btn btn-lg btn-action\" href=\"https:\/\/mcusercontent.com\/777c684ad3d3eb63b0df8e318\/files\/d7267510-e918-4c93-85a6-f4c9ad5f2741\/GVR_2021_February.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Snap Stats &#8211; Greater Vancouver<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>VIDEO:\u00a0 Vancouver Real Estate Market Update &#8211; March 2021 &nbsp; &nbsp; Dear Reader, Vancouver Real Estate Market is at a level never seen before!\u00a0 Market is so hot right now, that if you are looking to Sell, don&#8217;t wait!!\u00a0 Yes, price may be driven higher in a few months time, but more supply will also&#8230;<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1],"tags":[],"taxonomy_info":{"category":[{"value":1,"label":"Uncategorized"}]},"featured_image_src_large":false,"author_info":{"display_name":"Alex Yao","author_link":"https:\/\/www.yaorealestate.com\/author\/yaorealestate\/"},"comment_info":0,"category_info":[{"term_id":1,"name":"Uncategorized","slug":"uncategorized","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":42,"filter":"raw","cat_ID":1,"category_count":42,"category_description":"","cat_name":"Uncategorized","category_nicename":"uncategorized","category_parent":0}],"tag_info":false,"_links":{"self":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts\/4437"}],"collection":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/comments?post=4437"}],"version-history":[{"count":4,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts\/4437\/revisions"}],"predecessor-version":[{"id":4560,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts\/4437\/revisions\/4560"}],"wp:attachment":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/media?parent=4437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/categories?post=4437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/tags?post=4437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}