Daniels MPV Brampton.The crazy Vancouver property market in Canada. Vancouver real estate industry experts and many economists have publicly predicted that Vancouver real estate in Canada will encounter a housing price Waterloo in the coming year, and the media is one-sided negative about Vancouver real estate.Please Visit: Daniels MPV Brampton to Get Your VVIP Registration Today!
Experts have a point in their predictions. After all, real estate in Vancouver was bleak during 2018 and 2019. At that time, good houses on the market could not sell at a price, and poor houses could not be sold for a long time. Many sellers saw that the housing market was not ideal, and many high-quality houses were unwilling to be sold. The buyer’s mentality is that the more house prices fall, the more they do not buy, and they tend to see more and sell less. Both buyers and sellers are in a wait-and-see state. This situation continued until early 2020, when people’s interest in real estate slowly waned, coupled with the sudden epidemic, the government urged people to stay at home as much as possible and go out less, and people didn’t have much thought about buying and selling houses.
However, what happened next should not have been foreseen by many professionals: with the beginning of the epidemic, the housing market is quietly getting better and better, and house prices in Vancouver have reached their highest level in recent decades. and so far there is no obvious calm trend. Looking back over the past year or so, what has happened to the housing market in Vancouver?
In fact, as early as January 2020, Vancouver’s real estate market began to become active, and sales of apartments with lower total prices and urban town houses are getting better. In mid-March, the government ordered the closure of a large number of restaurants, retail, entertainment facilities, etc., the real estate market is still unaffected, real estate agents are still working as usual, busy between the various houses. Between March and July, many shops and entertainment venues are still closed and closed, but the real estate market in Vancouver is heating up, but the feeling is not obvious, it is still a buyer’s market.
By August 2020, for high-quality housing, the situation of robbing offer began to appear. People pay more attention to the newly developed independent houses, and the sales of new independent houses are unusually good, and the properties developed by larger developers are almost sold out in less than a month. The period from August to October 2020 was the best months for housing sales in 2020. It seems that overnight, many buyers rushed into the market to buy houses, and the real estate market got better with the naked eye. It is not uncommon for multiple buyers to snap up the same house at the same time. Major media are also competing to report the overheated Vancouver property market, and there are also questions about the persistence of the housing market. November-December has reached the end of the year, Canada’s most important Christmas is approaching, the public will pay more attention to the festive atmosphere, and the real estate market has temporarily cooled down.
Just when everyone thought that the real estate boom was about to pass, after Christmas 2020, a large number of buyers seemed to be ready to go at the same time. For houses whose asking price is in line with the market price, many buyers do not say at the same time, almost all of them are unconditional offer. In the end, whoever bid high will get it. The blowout growth of the property market has been followed by a continued rise in house prices. Home sales in March 2021 reached their peak in Vancouver for many years.
At present, the popularity of real estate is still unabated, most houses are sold above the asking price, and the market still belongs to the seller’s market. But buyers now tend to be more rational mentality, no longer blindly grab a house, but more know how to choose.