Karen Tsao Real Estate

Canadian Housing Market Update for March 2021: - Canada home sales went up 76.2% on a year-over-year basis in March. - Home sales went up 5.2% on a month-over-month basis in March. - The number of newly listed properties increased 7.5% from February to March. - The MLS Home Price Index (HPI) jumped 20.1% year-over-year and rose 3.1% month-over-month.... - The national average sale price posted a 31.6% year-over-year gain in March. Follow me @karen.tsao.real.estate for the latest real estate news and info.

BC Housing Market Update for March 2021: BC home sales jumped 123.3% from the same month last year when we first had COVID shutdown and up 38.1% from the previous month of February. The average MLS residential price in the province was $947,707, up 20.4% from March 2020. Many regions such as Greater Vancouver, Okanagan, Fraser Valley and Chilliwack all shattered previous records in terms of unit sales and average sale price. BCREA Chief Economist Brendon Ogmundson stated... that While mortgage rates have risen in recent months and a modest tightening of mortgage regulations is on the horizon, market activity is expected to remain very strong through the spring. Check out the YouTube video below for housing market updates and stats.

Metro Vancouver Housing Market Update for March 2021: Total residential sales jumped 126.1% from the same month a year ago and up 53.2% from February this year. Last month’s sales were 72.2% above the 10-year March sales average and is the highest monthly sales total ever recorded in the region. Delta, Whistler and Squamish had the highest increase in sales. During second half of March last year, Metro Vancouver housing market came to a halt due to COVID-19 shutdown, whic...h explains these record setting numbers when we compared sales stats on a year-to-year basis. Home benchmark price for all residential properties also set a new record of $1,123,300. This represents a 9.4% increase over March 2020. Detached home benchmark price experienced the highest price increase of 17.9% over March 2020. The overall inventory of homes for sale still can not keep up with strong home demand. Last month's number of listings were 18.6% below the 10-year March total listings average. Follow me @karen.tsao.real.estate for the latest real estate news and info.

BC Housing Market Update for February 2021: BC home sales shot up 89.1% from the same month last year and up 52.3% from the month of January. The average MLS residential price in the province was $889,584, up 17.3% from February 2020. This is the highest average MLS sale price ever recorded due to over demand and under supply housing condition. Across the regions, Chilliwack, Fraser Valley and Powell River have the highest unit sales increase on a year-over-year basis.... Powell River, Kootenay and Chilliwack continues dominating the highest average sale price increase category. Total inventory of homes for sale in BC still remains at lowest level. Follow me @karen.tsao.real.estate for the latest real estate news and info.

Metro Vancouver Housing Market Update for February 2021: Total residential sales skyrocketed 73.3% from a year ago and up 56% from January this year. Last month’s sales were 42.8% above the 10-year February sales average. Metro Vancouver housing market has been experiencing seller’s market across all property types since July last year. However, home buyer competition intensified in February and caused upward pressure on home prices across the region. Less populated commun...ities also experienced the largest year-over-year price increases across all property types, such as Bowen Island (34.4% increase), Sunshine Coast (32.7% increase), West Vancouver (16.1% increase) Maple Ridge (14.8% increase) and Ladner (13.7% increase). We are seeing many first time home buyers and upsize home buyers entering the market due to record low mortgage rates. Please keep in mind that housing market condition and pricing can vary depending on area and property type so please consult with me for your area of interest. Check out the YouTube video below for housing market updates and stats. Follow me on Instagram @karen.tsao.real.estate for the latest real estate news and info.

BC Housing Market Update for January 2021: Once again we had a record setting month for BC housing market, particularly in the Fraser Valley, Interior and Vancouver Island regions. Total BC residential sales skyrocketed 63.3% compared to January 2020. The supply of listings is at the lowest level on record and this condition continues to favor sellers strongly across the province. The average MLS residential price in BC was $845,169, an 16.1% increase compared to the sam...e month previous year. Check out the YouTube video below for housing market updates Follow me on Instagram @karen.tsao.real.estate for the latest real estate news and info.