Exponential Mindset Blog

October 2020 Real Estate stats/comments

Quick 30-second summary of October 2020 stats:

Sales 🔼 : 29% increase compared from October 2019, and a 1.2% decrease from September 2020. Last month’s sales were 34.7% above the 10-year October sales average.

Inventories 🔽: 1.5% decrease compared to October 2019 (12,236) and a 5.2% increase compared to September 2020 (13,096).

Prices 🔼: Benchmark price for all residential properties in Metro Vancouver is currently $1,045,100. This represents a 6% increase over October 2019 and a 0.4 % increase compared to September 2020.

My comments: With the current covid-19 situation, we get asked a lot about the safety precautions. We encourage buyers to spend more time online to check the following items on a listing before doing in person showings:

  • Photos
  • Virtual tours/3D tours
  • Floorplan
  • Google earth
  • Drive by

As listing agents, we will have the Exponential safety kit for each listing property that contains gloves, hand sanitizer and face masks. The cabinets and closets will be opened ahead of time to minimize contacts. When viewing a property, buyers will be advised not to touch any surfaces, not to use washrooms during a showing. Waivers needs to be signed by the buyers/buyer’s agent prior to the showing. This is the new way of showing houses.

Stay safe!


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