{"id":4805,"date":"2021-04-14T15:01:47","date_gmt":"2021-04-14T23:01:47","guid":{"rendered":"https:\/\/www.yaorealestate.com\/?p=4805"},"modified":"2021-04-14T15:01:47","modified_gmt":"2021-04-14T23:01:47","slug":"market-update-march-2021-2","status":"publish","type":"post","link":"https:\/\/www.yaorealestate.com\/market-update-march-2021-2\/","title":{"rendered":"Vancouver Real Estate Market Update &#8211; April 2021"},"content":{"rendered":"<h3 style=\"text-align: center;\">VIDEO:\u00a0 Vancouver Real Estate Market Update &#8211; April 2021<\/h3>\n<p style=\"text-align: center;\">Bonus VIDEO:\u00a0 New Stress Test and Will It Impact The Real Estate Market?<\/p>\n<p>&nbsp;<\/p>\n<div class=\"entry-content-asset videofit\"><iframe loading=\"lazy\" title=\"Vancouver Real Estate Market Update - April 2021 | Yao Real Estate\" width=\"720\" height=\"405\" src=\"https:\/\/www.youtube.com\/embed\/jopfpisAi4I?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/div>\n<div class=\"entry-content-asset videofit\"><iframe loading=\"lazy\" title=\"New mortgage stress test?  | Yao Real Estate\" width=\"720\" height=\"405\" src=\"https:\/\/www.youtube.com\/embed\/UVV0Zg5kGak?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/div>\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 April 2, 2021 \u2013 Home buyer and seller activity reached unprecedented levels across Metro Vancouver* in March.<\/p>\n<p>The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 5,708 in March 2021, a 126.1 per cent increase from the 2,524 sales recorded in March 2020, and a 53.2 per cent increase from the 3,727 homes sold in February 2021.<\/p>\n<p>Last month\u2019s sales were 72.2 per cent above the 10-year March sales average and is the highest monthly sales total ever recorded in the region.<\/p>\n<p>\u201cIn March, residents bought and listed homes across our region at levels not seen before,\u201d Taylor Biggar, REBGV Chair said. \u201cThis surge in activity is increasing upward pressure on prices.<\/p>\n<p>We\u2019re beginning to see double-digit price gains for single-family homes and townhomes over the last 12 months.\u201d\u00a0 Demand was most pronounced in rural and suburban areas. Delta \u2013 South saw a 195.8 per cent increase in sales over 2020 \u2013 the largest increase in Metro Vancouver. This was followed by Whistler, which experienced a 194.7 per cent increase, and Squamish, which saw a 188.6 percent increase in sales.<\/p>\n<p><em><strong>Analysis<\/strong><\/em> &#8211; 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>However, being in the front lines with ears on the ground on a daily basis, we are sensing a &#8220;peak&#8221; evolving.\u00a0 Multiple offers are still happening, but not to the extent that we have seen over the last few months.\u00a0 This may be due to the abundance of supply hitting the market as Spring arrived.\u00a0 We have seen some listings, although priced correctly, not have much action due to either competition or location.\u00a0 Despite this, we have been very successful in beating out all competition and netting our clients record numbers in their sales.\u00a0 As we always say, &#8220;Selling in this market is not hard, but getting top dollar requires an experienced and diligent Realtor.&#8221;\u00a0 This is even more true today.<\/p>\n<p>As the Federal government rolled out its new &#8220;stress test&#8221; for uninsured mortgages, this is simply just a political act.\u00a0 It&#8217;s not going to affect those that are moving up or down in this market, who already built equity in their properties.\u00a0 What it does, is making it harder for first time homebuyers who are short in their 20% down payment.<\/p>\n<p>If you have any questions at all regarding the new Mortgage Stress Test, or anything Real Estate related, I&#8217;d be happy to hear from you!<\/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\/33d7195f-e5b5-45e1-9261-1e1652219b47\/REBGV_Stats_Pkg_March_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\/fc92ffc5-b12a-48bc-8b99-c01d329d619e\/MVR_2021_March.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\/ebbcd12a-d087-4e88-b4c2-f2dea9c6250c\/GVR_2021_March.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; April 2021 Bonus VIDEO:\u00a0 New Stress Test and Will It Impact The Real Estate Market? &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&#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\/4805"}],"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=4805"}],"version-history":[{"count":1,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts\/4805\/revisions"}],"predecessor-version":[{"id":4806,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/posts\/4805\/revisions\/4806"}],"wp:attachment":[{"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/media?parent=4805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/categories?post=4805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yaorealestate.com\/wp-json\/wp\/v2\/tags?post=4805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}