{"id":978,"date":"2023-03-06T00:51:10","date_gmt":"2023-03-06T05:51:10","guid":{"rendered":"https:\/\/www.exponentialrealty.ca\/blog\/?p=978"},"modified":"2024-03-10T03:30:51","modified_gmt":"2024-03-10T07:30:51","slug":"february-2023-real-estate-stats-comments","status":"publish","type":"post","link":"https:\/\/www.exponentialrealty.ca\/blog\/february-2023-real-estate-stats-comments\/","title":{"rendered":"February 2023 Real Estate stats\/comments"},"content":{"rendered":"<p><a href=\"https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-985\" src=\"https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re-1024x1024.png\" alt=\"\" width=\"770\" height=\"770\" srcset=\"https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re-1024x1024.png 1024w, https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re-300x300.png 300w, https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re-150x150.png 150w, https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re-768x768.png 768w, https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re-1536x1536.png 1536w, https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re-420x420.png 420w, https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re-240x240.png 240w, https:\/\/www.exponentialrealty.ca\/blog\/wp-content\/uploads\/2023\/03\/202302stats-table_re.png 2000w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/a><\/p>\n<p>My comments:<\/p>\n<p>Is the market RED HOT again? The media often exaggerates the real estate market by emphasizing extreme examples, focusing on sensational headlines, and oversimplifying complex market dynamics. I mentioned in the previous post that we noticed there were more multiple offer situations, listings got sold faster. The sales has increased 76.9% but inventories has not changed much compared to January 2023. However there are still good deals out there compared to a year ago. \u00a0For clients looking to upsize from strata properties (condo\/townhouses) to duplexes\/detached houses, I recommend do it soon as the price can rise soon due to a lack of inventory. The price gap will soon be widened when detached houses take off. \u00a0The price increase for the attached property won&#8217;t be able to catch up with that of detached houses. I would like to share some sold listings of 2 1-bedroom condos in Brentwood and 2 detached properties in Mount Pleasant, Vancouver East that sold a year apart in the same neighbourhood with similar lot size &amp; age:<\/p>\n<p><a href=\"https:\/\/bcres.paragonrels.com\/publink\/default.aspx?GUID=50dfef61-5c88-4f48-a7eb-473273165bb8&amp;Report=Yes\">Detached A sold in Feb 2023<\/a><\/p>\n<p>vs<\/p>\n<p><a href=\"https:\/\/bcres.paragonrels.com\/publink\/default.aspx?GUID=5a426c63-6c11-49e1-963d-91bd1a5ab850&amp;Report=Yes\">Detached B sold in Feb 2022<\/a><\/p>\n<p><a href=\"https:\/\/bcres.paragonrels.com\/publink\/default.aspx?GUID=9bc73daf-9138-44da-a789-815777a74c46&amp;Report=Yes\">1 bedroom condo in Brentwood sold in Feb 2022<\/a><\/p>\n<p>vs<\/p>\n<p><a href=\"https:\/\/bcres.paragonrels.com\/publink\/default.aspx?GUID=c57e6261-40ab-4b71-afde-1c0a2472cc82&amp;Report=Yes\">1 bedroom condo in Brentwood sold in Feb 2023<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>My comments: Is the market RED HOT again? The media often exaggerates the real estate market by emphasizing extreme examples, focusing on sensational headlines, and oversimplifying complex market dynamics. I &hellip;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/posts\/978"}],"collection":[{"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/comments?post=978"}],"version-history":[{"count":5,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/posts\/978\/revisions"}],"predecessor-version":[{"id":986,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/posts\/978\/revisions\/986"}],"wp:attachment":[{"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/media?parent=978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/categories?post=978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.exponentialrealty.ca\/blog\/wp-json\/wp\/v2\/tags?post=978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}