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The real estate boards and associations in the province, together with the Real Estate Council of BC, recently removed the recommendation that REALTORS® not hold open houses. This recommendation had been in place since mid-March.

The decision to hold or not hold an open house remains one for home sellers to make with their Realtors.

This change to permit open houses came with new safety guidelines that were approved by WorkSafeBC. If you plan to attend an open house soon, you’ll notice that Realtors are implementing a variety of safety measures to comply with today’s public health protocols.

With that in mind, here are seven things you can expect at open houses during today’s period of physical distancing:

1. You’ll need to sign in

The attending Realtor will ask you to sign in when you arrive at an open house. This is required for contact tracing. If you get sick later, it’s important to see who you came in contact with so they can be tested and potentially isolated.

2. You’ll need to wear a mask

Using a mask is an effective way of preventing the spread of COVID-19. Realtors will likely ask you to wear a mask when entering an open house to help protect you and other house hunters.

3. Follow direction and keep your distance

To help you keep physical distance, Realtors will remind you to keep at least two metres (six feet) distance from other parties at all times. In areas of the home where this becomes difficult, like hallways or staircases, the Realtor may create one-way paths. Follow their directions to keep everyone safe.

4. Look, don’t touch

Remember that an open house may still be someone’s home. Please refrain from touching any surfaces or using the bathroom. The Realtor will turn on all lights and keep all doorways open to help make this easier. If you would like to look at something closer, talk to the attending Realtor.

5. Wash your hands

Washing your hands helps prevent spreading the virus. The Realtor will set up a handwashing station at the entrance of the home.

6. Keep everything clean

Cleaning all surfaces is a key part of the provincial health protocols in place to fight COVID-19. If you’re looking to hold an open house, work with your Realtor to come up with an enhanced cleaning plan to keep your home clean and sanitary.

7. Pre-screen the home

Before choosing to attend a physical open house, do online research on the home to ensure that it is a good fit for you. Review the listings on Realtylink.org, walk or drive through the neighbourhood to make sure that it’s located somewhere you’d like to live.

New technology, like livestreaming, virtual tours, 3D cameras, and “dollhouse” digital layout programs can effectively show you what the inside of the home is like without having to enter it.

Ultimately, the best thing to do is to talk to your Realtor. They’re experts when it comes to all things real estate and will be able to help guide you to make the right decisions to meet your housing needs.

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METRO VANCOUVER MARKET HIGHLIGHTS
JUNE 2020

Home buyers and sellers have gradually become more active in each month of the COVID-19 pandemic. In June, home sale and listing activity in Metro Vancouver returned to more historically typical levels.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,443 in June 2020, a 17.6 per cent increase from the 2,077 sales recorded in June 2019, and a 64.5 per cent increase from the 1,485 homes sold in May 2020. Last month’s sales were 21.9 per cent below the 10-year June sales average.

 

"REALTORS® continue to optimize new technology tools and practices to help their clients meet their housing needs in a safe and responsible way,” Colette Gerber, REBGV Chair said “Over the last three months, home buyers and sellers have become more comfortable operating within the physical distancing and other safety protocols in place.” Colette Gerber, REBGV Chair

There were 5,787 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2020. This represents a 21.8 per cent increase compared to the 4,751 homes listed in June 2019 and a 57.1 per cent increase compared to May 2020 when 3,684 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 11,424, a 23.7 per cent decrease compared to June 2019 (14,968) and a 15.1 per cent increase compared to May 2020 (9,927).

“Much more of the real estate transaction is happening virtually today. Before considering an inperson showing, REALTORS® are helping potential buyers pre-screen homes more thoroughly by taking video tours, reviewing floorplans and an increased number of high-resolution images, as well as often driving through the neighborhood.” 

For all property types, the sales-to-active listings ratio for June 2020 is 21.4 per cent. By property type, the ratio is 19.9 per cent for detached homes, 25.2 per cent for townhomes, and 21.3 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Home prices have remained steady with minimal fluctuation over the last few months,” Gerber said. “With increasing demand, REALTORS® have begun seeing multiple offers for homes priced competitively for today’s market.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,025,300. This represents a 3.5 per cent increase over June 2019 and a 0.3 per cent decrease compared to May 2020.

Sales of detached homes in June 2020 reached 866, a 16.1 per cent increase from the 746 detached sales recorded in June 2019. The benchmark price for a detached home is $1,464,200. This represents a 3.6 per cent increase from June 2019 and a 0.5 per cent increase compared to May 2020.

Sales of apartment homes reached 1,105 in June 2020, a 17.4 per cent increase compared to the 941 sales in June 2019. The benchmark price of an apartment property is $680,800. This represents a 3.6 per cent increase from June 2019 and a 0.8 per cent decrease compared to May 2020.

Attached home sales in June 2020 totalled 472, a 21 per cent increase compared to the 390 sales in June 2019. The benchmark price of an attached home is $790,800. This represents a 2.3 per cent increase from June 2019 and a 0.2 per cent decrease compared to May 2020.

 

Email or Call Iwa if you have any questions about a particular neighbourhood.

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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.