For anyone who thought the COVID-19 pandemic would lead to slower home sales in 2020, that was not the case in the Fraser Valley.
The Fraser Valley Real Estate Board says last month was the best December ever, with 2,086 home sales.
Total annual sales in the region finished 12.4 per cent above the 10-year average and 81 per cent above normal for the month due to demand from the second half of 2020, the organization said in a release.
2021 B.C. property assessments in the mail
Numbers released by the board showed new listings in December were the second-highest on record at 1,502 and the total sales volume for the year was just under 20,000 in the Fraser Valley, which is still up from 2019 and the fourth-highest for annual sales since 2011.
It seems that detached homes are still the most desired property, with those sales almost 42 per cent higher than in 2019.
“The pandemic upended everything in 2020 and how the real estate market responded to it was nothing short of remarkable,” Chris Shields, president of the Fraser Valley Real Estate Board, said in a release.
“Typical seasonal cycles did not apply, how we conduct business had to change to keep the public safe; and most unexpected, has been the unwavering demand for family-sized homes in our region and so far, there is no sign of it slowing down.”
Despite these numbers, the region’s overall inventory is 28 per cent below normal, according to the board, and it could be a good time for anyone thinking of selling their home who had previously held off due to the pandemic.
© 2021 Global News, a division of Corus Entertainment Inc.
Calgary's real estate rebound expected to continue in 2021: CREB – CTV Toronto
The Calgary Real Estate Board is predicting continued growth in Calgary’s housing market this year as result of low lending rates, but ongoing challenges are expected to prevent a substantial increase.
In its annual forecast released Tuesday, CREB predicted total sales in Calgary would increase in 2021 by nearly five per cent compared to last year’s sales.
The 2020 sales numbers exceeded initial expectations, bolstered by a rebound in the second half of the year as demand outpaced supply.
“It is expected some of the momentum recorded at the end of 2020 will continue into 2021, fueled by exceptionally low lending rates and pent-up demand,” said Ann-Marie Lurie, CREB chief economist, in a statement. “While sales are expected to rise by nearly five per cent on an annual basis in 2021, persistent economic challenges are expected to prevent stronger growth in our housing market.”
CREB is expecting an increase of listings in 2021 as homeowners facing economic challenges may need to sell during high unemployment, while other owners who were reluctant to list at the onset of the COVID-19 pandemic begin to enter the market.
The board is predicting 2021 prices to be one per cent higher than 2020.
Why Real Estate Professionals Are Turning To Virtual Property Tours – Forbes
I’ve done virtual keynotes for many real estate conferences in the past year and one of the key trends I’ve noted has been the use of augmented reality (AR) and virtual reality (VR).
High-contact industries are among those that can benefit the most from VR and AR technology
Prior to the pandemic, virtual property tours weren’t uncommon, but most individuals still preferred to see property in person. Today, that mindset has shifted, with countless buyers turning to virtual property tours first, before committing to see a home in person. Virtual tours have their roots in the computer gaming industry, providing the residential sector with the ability to use 3D and in some cases, VR headsets, to help bring spaces and surrounding areas to life.
While COVID has certainly been the most urgent and immediate factor influencing the rise in VR real estate tours, it’s not the only one. As Millennials and Gen Z become a larger percentage of home buyers, the demand for virtual and mobile real estate services is increasing. These generations have come to expect virtual options for nearly everything, and home buying is no exception.
The next evolution of virtual tours
One of the most advanced companies to bring virtual tours to the masses is Guided Virtual Tours, a rapidly-expanding Tampa-based startup.
Guided Virtual Tours is different from other virtual tour platforms—unlike traditional virtual tours that require users to click through to different points, this solution guides the prospect through the tour, selling the property just like an agent would. There’s no clicking from point to point or dragging to see different perspectives.
Instead, the prospect sits back and looks around as the VR leasing agent takes them through the tour.
In addition, this platform is also the first proactive touring solution in the industry. Because these virtual tours can be posted on a property manager’s YouTube or social profiles, it can automatically generate new leads while giving tours 24 hours a day.
Founder Chris Vasilakis, an American Mensa member and Marine Corps combat vereran, has a deep background in VR, having implemented it in various scenarios—including hip-hop artist management.
After founding multiple startups in different industries, he eventually went all in on virtual reality with Guided Virtual Tours.
According to Vasilakis, tours on his platform can be created at an affordable price, which hasn’t always been the case. “This is the future of touring all properties, allowing thousands of prospects to tour each day while reducing the need for human leasing agents,” he says. “It’ll be global—and it’s going to change the industry.”
It’s safe to say that virtual reality has enormous benefits for the year to come as our real estate landscape recovers and adapts to what I believe will be a big business boom in the near future
What $500,000 buys in today's Canadian real estate market – Vancouver Sun
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Killarney Road, New Brunswick
80 Jenkins Drive ($499,900)
Located a four-minute drive from Fredericton, this New Brunswick home is reminiscent of a New England farmhouse. The five-bedroom, 3.5 bathroom two-storey features red cedar shingles and tiled floors and, in the kitchen, red shaker cabinetry with accent glass doors, stone backsplash, porcelain floors and new appliances. The kitchen opens to a formal dining room with red pine plank floors. A spacious living room and den/potential bedroom complete the main level. The upper level offers a newly refinished bathroom with porcelain floors, tub/shower with white subway tile and three bedrooms. A large master comes with a private ensuite, complete with large vanity, soaker tub, tile shower and porcelain floors. The recently finished lower level includes a generous-sized family room, two more large bedrooms, and a third full bathroom, also with tub/shower with white subway tile. Outside, a back deck and two covered front porches look out on a landscaped yard.
#202-2410 Rue Ste-Catherine E. ($499,700)
This two-bedroom, one-bath Montreal condo offers 1,232 square feet of open space with large bedrooms and a private 20′ x 8′ terrace. It’s located in the Ville Marie neighbourhood, home to Montreal’s central business district.
#1112 -1420 Dupont St. ($499,900)
Located in the Junction Triangle in Toronto’s West End, this one-bedroom, one-bathroom condo features exposure to an abundance of natural light. Panoramic views of the city are on display from the bedroom and balcony. Freshly painted with upgraded bedroom storage and glass roller door, the unit is near shops and grocery stores as well as subway and transit. Parking included.
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