March 2021 Newsletter Introduction
Hello Real Estate Interestee –
As some of you may have noticed there has been a huge uptick of demand and transactions in Real Estate which we’re looking at a surge of multiple offer situations where we see subject free and over asking offers. This surge you can definitely see in the demand of townhomes and detached homes. You’ll see that the demand started within the further Fraser Valley area and slowly coming through the lower mainland. Is this multi offer situation here to stay for the remainder of the year? Unfortunately, I’m not sure; but as prices keep getting pushed higher and higher, many buyers may be pushed out and will probably be waiting – or will consider buying a presale home or looking back to purchase a large condo if push comes to shove. That may happen later in the year or closer to early next year. We’ll see how the vaccine will impact the demand on real estate as well.
Some updates:
B.C. could be looking at a “post-pandemic world” this summer if the province’s vaccine rollout continues on the right track, Provincial Health Officer Dr. Bonnie Henry said Thursday.
It was a glimmer of good news as health officials announced 564 new cases of COVID-19 and four more deaths on Thursday.
However, the number of variants of concern continues to climb. Of the new cases, 46 were identified as variants, bringing B.C.’s total to 246.
Stay safe and healthy!!!
– Sam