Full Steam ahead for January & February - Manny Deol
Full steam ahead for January and February and the market doesn’t seem to be slowing down at all. Realtors are starting to experience record sales, now that working from home seems to promise to become the new normal.
In more common times, the majority of people selling their homes would think it beneficial to list in the spring or summer. This winter has proven that the serious buyers are out there and the Fraser Valley has more appeal than not.
The COVID-19 pandemic has changed each and every one of our lives. While it has influenced how we live, it is now proving to influence WHERE we live. With recommendations in place to work from home, millions of Canadians are no longer required to commute to their offices on a daily basis. Here in the lower mainland, a record number of people are leaving Vancouver and the surrounding city centre and moving out to more affordable locations, such as Mission.
New Listings for detached homes in Mission have increased by 34.8% since this time last year. Sales are up by 41.4%.
Both Townhouse sales and new listings have increased by 66.7%.
Even Apartments sales have increased by 75% and new listings have gone up by 33.3%.
Working from home and social distancing have become our new normal, hence causing a major shift with the real estate market. The competition over low inventory makes this winter an ideal time to sell your home.
The nation’s three largest cities — Toronto, Montreal and Vancouver — saw a sharp jump in the number of citizens moving to suburbs, smaller towns and rural areas, according to Statistics Canada data released Thursday. A total of 87,444 people left those three cities between July 2019 and July 2020 for other parts of the same province, up from an average annual exodus of 72,686 the previous three years.