April 2021 Founder’s Message - VIRANI REAL ESTATE ADVISORS - Real Estate Information

April 2021 Founder’s Message

Sales of Metro Vancouver homes continued to shatter records in March.  Residential home sales totalled 5,708 last month, up 53.2% from February and 126% from this time last year. This is the highest-ever monthly sales total recorded in the Lower Mainland, extending from Whistler to the Sunshine Coast!

Historically low interest rates, high demand for more living space and an economy that’s showing signs of recovery are contributing to the latest record-breaking sales. The Multiple Listing Service (MLS) home price index benchmark price for a detached home in Metro Vancouver is now $1,700,200 million, up 17.9% from March 2020 and up almost 5% from February 2021.

Attached homes are up 10.4% from this time last year to $872,200 and apartments increased 3.7% to $715,800. Detached residential home prices continued to increase significantly over March 2020 in West Vancouver (19.2%), North Vancouver (19.4%) and Vancouver West (10.4%).

We’re in a historically strong seller’s market and have seen record sale highs for three months in a row. There’s more demand for homes than are available, which is further driving the Lower Mainland’s current red-hot real estate market. With sales and prices continuing to surge at unprecedented levels, our expert advisors encourage you to allow them to do a complimentary comparative market analysis (CMA) to determine your home’s value. Gaining in-depth insight into local — and global — real estate markets is an important first step in helping you make an informed decision.

Now is also an excellent time to take advantage of record low interest rates Our full-service team of financial and mortgage professionals offer exceptionally knowledgeable, sound advice to help our buyers, sellers and developers create sound, long-term investments. With highly personalized service and unparalleled advantages, our clients receive the best, honest advice possible.

Exceeding your expectations is our goal. We welcome you to join with us in these extraordinary times to achieve your real estate success. Whether you need to upgrade, downsize, enter the market or build your real estate portfolio, our experienced advisors will ensure your next step is the right one. We invite you to chat with us, 604.913.1000 or [email protected].

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