REAL ESTATE MARKET UPDATE – APRIL 2020

Dated: May 11 2020

Views: 2

Stable Prices Despite Less Transaction

April 2020 Real Estate Market Update has been expected by many to see how the market acted in this special COVID-19 outbreak period.

As expected sales and listing have substantially gone down, however over prices kept its earlier position with a small increase over March 2020. (+0.2%)

Total number of listed properties have slightly decreased in April, compared to March 2020 (-2.3%)

The overall sales of the properties went down substantially, which reflected to each category ina similar percentage (-39% vs. last April and -56% vs March 2020)

This month’s sales level is the lowest April sales since 1982, as a result of the extreme measures to fight the COVID-19 pandemic.

The government of BC has announced the “BC’s Restart Plan” on May 6th, which advise a controlled opening of the economy. Again, the BC Government has listed the real estate among the ESSENTIAL services, which means that we will continue to offer services to meet the housing and shelter needs of the community.

These are expected to help the real estate market moving towards the industry’s pre-pandemic positive state, where the sales were on the rise over the last years and months.

JOVI offices will be open and operational during this period. Please read our BLOG POST for the frequently asked questions and our services update. Although the open house activities are now on hold, showings are done by appointment base or virtually.
Please CONTACT JOVI AGENTS for details.

Follow us on social platforms to get updated information, market analysis, market facts and figures, new listings, investment tips and many more.

Stay Home, Stay Safe!

Charanpannu@jovirealty.com

604-340-1411

Blog author image

Charan Kamal K Pannu

Over 14 years selling Real Estate in lower mainland. Has sold over $100M Real Estate. So far I have bought and sold even many of my own houses and restaurants at very good prices. Have done many deals....

Latest Blog Posts

Real Estate Market Update – June 2020

REAL ESTATE MARKET UPDATE – JUNE 2020Reading Time: 4 minutesSteady Growth of Sales and Listings (17% More Sales Compared to Last Year)The Real Estate Market Update for June 2020

Read More

Questions To Ask When House Shopping !!

Questions To Ask When House ShoppingFinding the right home is about asking the right questions. You want to ask the basics, such as square footage, number of rooms, school zones, and condition of

Read More

REAL ESTATE MARKET UPDATE – APRIL 2020

Stable Prices Despite Less TransactionApril 2020 Real Estate Market Update has been expected by many to see how the market acted in this special COVID-19 outbreak period.As expected sales and

Read More