Home sales and prices remained relatively stable in January of 2020. On the flip side home listing inventory declined giving buyers less product to choose from. The Real Estate Board of Greater Vancouver reports that home sales increased by 42% which is good news for sellers. With less competition and high buyer demand, sharply priced homes are selling in record time and we are even seeing multiple offer situations. As we approach the typically more active Spring market, it will be interesting to see if listing inventory begins to rise to more typical levels. This is good news for both buyers and sellers. Because there is currently less competition on the market, your chances of selling dramatically increase. As a buyer there may be less product to look at, but it is good to get a head start on your search now before you have to complete with more buyers in the busy Spring market. Sales of detached homes in January of 2020 have reached 429, a 29.5% increase. Sales of apartments have reached 814, a 45.6% increase. Sales of town homes have reached 318, a 55% increase. As prices remain stable we are seeing buyer confidence return as homes are selling much faster than they did last year. It will be interesting to see what will happen this Spring if inventory catches up to the current demand.