Real Estate trends and market activity have long been a popular topic in Vancouver. 2020, with all of it's distractions, has kept us talking about real estate just as much as ever. The tragic COVID pandemic has manifested in several ways this year. When the market ran and peaked in 2018, many people in our area took note of what home values were and then waited to catch their breath from what seemed like a 5 year run.
As 2018 cooled through 2019 a pool of buyers and sellers sat on the sidelines, either waiting to see what opportunities appeared or hoping that their home values would return to their former glory of 2017. In February of this year we started to see the levy break and buyers return with confidence. The COVID pandemic and lockdowns touching ground here in March helped contain the fire a little, but ultimately it was going to burn. The million dollar question was how long would this fire burn and where?
Understandably COVID has transformed normal demand patterns with people's ability to work from home and desire to have their own space. Buyers have spread out to explore areas that they otherwise wouldn't have considered.
We've been busy this year in the tri-cities, especially in Port Moody which has some really incredible neighbourhoods and lifestyle options. Furthermore we've been active on Bowen Island which traditionally saw properties sit on the market for anywhere from months to years, all of a sudden going in to bidding wars overnight.
For those of you who would like to avoid the bidding wars and would like to chat about finding a property off market, or perhaps even selling yours, please reach out to us here. We've done close to $5M in private, off-market deals in the last couple months and have a list of buyers keen to find a home, OR, if you'd consider selling your home without all of the noise, and traffic, please reach out to us to help. www.owlrealty.ca
COVID has reshaped our landscape, literally and figuratively. We're in tune with it and helping our clients navigate through these dynamic times. We keep it honest and direct, yet fun and exciting. We're the local experts in Pemberton Heights aka "The Owls' Nest."