Steven and Sheron's Blog

May 2020 Real Estate stats/comments

Dear friends:

It’s that time of the month again! Please find the 30 second summary for the latest May 2020 stats from the Real Estate Board of Vancouver.

Sales were down by 43.7% compared to May 2019, 33.9% increase compared to April 2020. Inventories are still low, 32.4% decrease compared to May 2019. Benchmark price for all residential properties is $1,028,400, 2.3% increase compared to May 2019. Benchmark price for attached properties is $792,400, 0.2% increase from April 2019 and 1.8% decrease compared to May 2019. Feel free to contact us if you would like to receive the complete stats package.

Over the last few weeks, I noticed there are more market activities. The more desirable listings (eg. better location, better layout/condition) got sold pretty quickly compared to a month or two ago. My recommendation: It is a good time to go in if you are looking to live-in. Investors: Better to wait a few more months as there are tons of rental inventories out there and it is a challenging time to find good tenants.

Last but not least, if you have not met Jayden, a 5 year old Holland Lop. Jayden grew up with dogs around and he has picked up dog-like habits such as he will come if you call his name. He can do tricks like dogs do!

Stay safe!

Sheron


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