In March, we always do our March Madness Real Estate recap in the Spring.  Its always a fun project as we use a sports theme to follow the March Madness NCAA hype to create our video.  This year, we introduced it with  a post card that got sent to my farm area 

(whether or not this may help my personal marketing is uncertain, but I hope it helps!) 

So, the March Madness project starts around the beginning of the month where we collect all the data from all the major areas in richmond.  We also gathered all the info from the 3 major types of properties: condos, townhomes, single family homes. 

From there, we measured the ratio between sales and active listings 

We use this method (MOI) frequently because it shows how active a market is.  Some areas like Brighouse, where theres a lot of sales doesn't necessarily mean its super busy.  Brighouse, in nature, is very dense with a lot of properties, especially in condos.  However if this area has the most amount of sales in one month, it doesn't mean the area is hot if there are 500 more active listings in the area (and growing). 

So, we use the MOI method as it is always scaled no matter how big or small a neighbourhood is.  At the same time, type of property too. 

Our findings?  

Last year, we reported these as the hottest markets in richmond:

Condos, Brighouse South
Condos, West Cambie
Townhomes, McLennan North
Single Family Homes, Ironwood

Single Family Homes, Hamilton 

Cooler markets:
Condos, Brighouse

2 bedroom Condos, Richmond overall
 

This year hottest markets:

Single Family Homes, Hamilton

Townhomes, Woodwards and Lackner
Condos, Steveston

Townhomes and Condos, McLennan North

Single Family Homes, McNair and Ironwood

Cooler markets:

Single Family Homes, Saunders and Garden City
Townhomes, South Arm 

Condos, West Cambie

To watch the March Madness Recap:

 https://vid.us/qoac65