Dean’s Real Estate Market Update – September 2020

Dean’s Real Estate Market Update – September 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 summer months seemed to pass so quickly and now we are facing a back to school time that none of us have previously experienced.

The Covid pandemic has seemed to pause or defer but not extinguish or hardly dampen the real estate market as you can see by these sales and listing graphs.

In fact the springtime deferments and ensuing latent demand have led to a busier than usual summer as August sales were 19.9% above the 10 year average.

Affordable single family homes have been especially in high demand and in some areas (like Ladner right now) in shorter supply than usual.

“People who put their home buying and selling plans on hold in the spring have been returning to the market throughout the summer,” Colette Gerber, REBGV Chair said. “Like everything else in our lives these days, the uncertainty COVID-19 presents makes it challenging to predict what will happen this fall.”

Locally the market has been strong as well with sales appearing to peak in July in both Ladner and Tsawwassen.

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