As expected, March showed further growth in activity as we near the peak of the Spring market. Active listings are up across all markets, though not as significantly as some may have expected. Sales activity was also up in most markets, with the exception of the Westside, which saw a slight drop in activity in both the attached and detached markets. Downtown showed the largest jump in activity with sales up 43.8% over last month. Median pricing remained relatively flat, though a drop off of almost 8% was noted in the Westside detached market.
The hottest market segments last month were:
- Any detached home on the Eastside under $1.2m
- The sub-$1.5m Westside detached market
- Virtually all detached North Van detached homes between $700k and $1.6m
- Entry level downtown condos under $400k
- Higher end North Van condos/townhomes between $800-900k
The next two months should have plenty of Buyer activity, with many looking to use the 2.99% rates that are locked in for the next 90 days. Looking forward to a good Spring (and good spring weather for showings and tours)!