Dean’s Real Estate Market Update – April 2020

Dean’s Real Estate Market Update – April 2020

Thanks for taking the time to look at my monthly real estate update for South Delta and the Real Estate Board of Greater Vancouver (REBGV).

Here is a link to the complete set of charts and graphs – it may be useful to refer to them as you read through this piece!

Here is a link to the Real Estate Board of Greater Vancouver media release.

The real estate market has been greatly altered, like most things around us, by the onset of the Covid-19 pandemic. The first 10 weeks of 2020 were very busy, with evidence of a strengthening market following the recents years of government intervention to slow things down. That, of course, has changed since mid March as the populace has moved toward self isolation.

“The first two weeks of the month were the busiest days of the year for our region with heightened demand and multiple offers becoming more common,” Ashley Smith, REBGV president said, “Like other aspects of our lives, this changed as concerns over the COVID-19 situation in our province grew.”

“Many of the sales recorded in March were in process before the provincial government declared a state of emergency. We’ll need more time to pass to fully understand the impact that the pandemic is having on the housing market,” Smith said.

I will be watching the market carefully as we work our way through the current situation and will endeavour to keep my readers informed so they are able to make optimal decisions for themselves in this different environment.

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