Strong Housing Sales Continued In December

Strong December housing activity propelled Metro Vancouver’s* total home sales 53% higher at 30,93 units compared to 2,016 units a year ago. View homes for sale using this link.


 

Total Home Sales For 2020

The total Metro Vancouver residential home sales for 2020 as reported by the Real Estate Board of Greater Vancouver (REBGV), recorded a total of 30,944 homes which were 22.1% higher than the 25,351 sales recorded in 2019, and a 25.7% increase from the 24,619 homes sold in 2018.


However, the total 2020 residential home sales for Metro Vancouver was 2.8% below the 10-year sales average.

Metro Vancouver Housing Market Outlook For 2021

The most in demand homes for the second half of 2020 were detached homes under $2.0 million. The change in demand for larger homes for families and work-from-home due to the pandemic are driving the demand for single family detached homes from $800,000 to $2.0 million across the region. This demand trend is expected to continue in 2021, and the lack of supply is expected to continue to provide strong support for detached homes.


Similarly, the strong demand for townhouses are expected to continue into 2021.


Soft Condo Market

Although new condo development sales activities showed some signs of improvement, but sales activities are far off from the strong demand as experienced from 2015 to 2018. The condo segment of the housing market is expected to be challenging for 2021. 


 
We will continue to report back the housing market activities for 2021. If you are planning to buy or sell your home, you are welcome to contact us for a market update and to discuss your plan to buy or sell your home.
 
Read full post
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.