As of March 3 2021, low interest rates remain a key-driver in today’s real estate market. If you are re-evaluating your living space to accommodate working from home or homeschooling, low interest rates reduce mortgage costs. The market is active with many first-time homebuyers and move-up buyers entering.
If you are looking to sell, the demand for new listings are high. The total number of homes listed for sale in the region decreased by 9.1% than in February 2020 but increased by 0.6% from January 2021.
“Competition amongst homebuyers is causing multiple offer situations and upward pressure on prices.” - REBGV chair Collette Gerber.
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