Posted on
March 16, 2022
by
Kris Hall
The Metro Vancouver housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,424 in February 2022, an 8.1% decrease from the 3,727 sales recorded in February 2021, and a 49.8% increase from the 2,285 homes sold in January 2022. weLast month’s sales were 26.9% above the 10-year February sales average.
"As we prepare to enter what’s traditionally the busiest season of the year, the Metro Vancouver housing market is seeing more historically typical home sale activity and a modest uptick in home listing activity compared to last year." - Taylor Biggar, Chair, Real Estate Board of Greater Vancouver
There were 5,471 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2022. This represents an 8.4% increase compared to the 5,048 homes listed in February 2021 and a 31.2% increase compared to January 2022 when 4,170 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 6,742, a 19.3% decrease compared to February 2021 (8,358) and a 19.1% increase compared to January 2022 (5,663).
“Despite having a higher volume of people listing their homes for sale in February, the region’s housing market remains significantly undersupplied, which has been pushing home prices to new highs month after month,” Biggar said.
For all property types, the sales-to-active listings ratio for February 2022 is 50.8%. By property type, the ratio is 34.9% for detached homes, 64.3% for townhomes, and 62.2% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,313,400. This represents a 20.7% increase over February 2021 and a 4.6% increase compared to January 2022.
“A lack of housing supply is at the heart of the affordability challenges in Metro Vancouver today. We need more coordinated action from stakeholders at all levels to help create an ample, diverse supply of housing options for residents in the region today and into the future,” Biggar said.
Sales of detached homes in February 2022 reached 1,010, an 18% decrease from the 1,231 detached sales recorded in February 2021. The benchmark price for detached properties is $2,044,800. This represents a 25% increase from February 2021 and a 4.7% increase compared to January 2022.
Sales of apartment homes reached 1,854 in February 2022, a 5.4% increase compared to the 1,759 sales in February 2021. The benchmark price of an apartment property is $807,900. This represents a 15.9% increase from February 2021 and a 4.1% increase compared to January 2022.
Attached home sales in February 2022 totalled 560, a 24% decrease compared to the 737 sales in February 2021. The benchmark price of an attached unit is $1,090,000. This represents a 27.2% increase from February 2021 and a 5.9% increase compared to January 2022.
Source: The Real Estate Board of Greater Vancouver
Posted on
February 17, 2022
by
Kris Hall

The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,285 in January 2022, a 4.4% decrease from the 2,389 sales recorded in January 2021, and a 15% decrease from the 2,688 homes sold in December 2021.
Last month’s sales were 25.3% above the 10-year January sales average.
There were 4,170 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2022. This represents a 6.9% decrease compared to the 4,480 homes listed in January 2021 and a 114.4% increase compared to December 2021 when 1,945 homes were listed.
"Our listing inventory on MLS® is less than half of what would be optimal to begin the year. As a result, hopeful home buyers have limited choice in the market today. This trend is causing fierce competition for a scarce number of homes for sale, which, in turn, increases prices." - Keith Stewart, REBGV economist
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 5,663, a 31.8% decrease compared to January 2021 (8,306) and an 8.2% increase compared to December 2021 (5,236).
“As we approach spring, we’ll keep a close eye on the impact of rising interest rates on buyers’ willingness to buy and on whether more homeowners will opt to become sellers in what’s traditionally the busiest season of the year,” Stewart said. “With home prices reaching new highs in recent months, the need has never been greater for government to collaborate with the building community to expedite the creation of housing supply and provide more choice for those struggling to buy a home today.”
For all property types, the sales-to-active listings ratio for January 2022 is 40.3%. By property type, the ratio is 28% for detached homes, 51.6% for townhomes, and 49.7% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,255,200. This represents a 18.5% increase over January 2021 and a two% increase compared to December 2021.
Sales of detached homes in January 2022 reached 622, a 15.9% decrease from the 740 detached sales recorded in January 2021. The benchmark price for a detached home is $1,953,000. This represents a 22.7% increase from January 2021 and a 2.2% increase compared to December 2021.
Sales of apartment homes reached 1,315 in January 2022, a 10% increase compared to the 1,195 sales in January 2021. The benchmark price of an apartment property is $775,700. This represents a 14% increase from January 2021 and a 1.8% increase compared to December 2021.
Attached home sales in January 2022 totalled 348, a 23.3% decrease compared to the 454 sales in January 2021. The benchmark price of an attached home is $1,029,500. This represents a 24.3% increase from January 2021 and a 2.5% increase compared to December 2021.
Source: The Real Estate Board of Greater Vancouver
Posted on
January 7, 2022
by
Kris Hall
Metro Vancouver home sales reached an all-time high in 2021 as housing needs remained a top priority for residents in the second year of the COVID-19 pandemic. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 43,999 in 2021, a 42.2% increase from the 30,944 sales recorded in 2020, a 73.6% increase from the 25,351 homes sold in 2019, and a four% increase over the previous all-time sales record of 42,326 set in 2015. Last year’s sales total was 33.4% above the 10-year sales average.
"Home has been a focus for residents throughout the pandemic. With low interest rates, increased household savings, more flexible work arrangements, and higher home prices than ever before, Metro Vancouverites, in record numbers, are assessing their housing needs and options." - Keith Stewart, REBGV economist
Home listings on the Multiple Listing Service® (MLS®) in Metro Vancouver reached 62,265 in 2021. This is a 14.7% increase compared to the 54,305 homes listed in 2020 and a 19.9% increase compared to the 51,918 homes listed in 2019. Last year’s listings total was 11% above the 10-year average.
“While steady, home listing activity didn't keep pace with the record demand we saw throughout 2021. This imbalance caused residential home prices to rise over the past 12 months,” Stewart said.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 5,236, a 38.7% decrease compared to December 2020 (8,538) and a 26.7% decrease compared to November 2021 (7,144).
“We begin 2022 with just over 5,000 homes for sale across the region. This is the lowest level we’ve seen in more than 30 years,” Stewart said. “With demand at record levels, residents shouldn’t expect home price growth to relent until there’s a more adequate supply of housing available to purchase.”
The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,230,200. This is a 17.3% increase compared to December 2020. Both detached home and townhome benchmark prices increased 22% in the region last year, while apartments increased 12.8%.
Looking across Metro Vancouver, Maple Ridge saw the largest increase in benchmark prices at 34.7%, followed by Pitt Meadows (29.8%), and Whistler (27.8%).
Looking at area and property type, detached homes in Pitt Meadows saw the largest benchmark price increase at 42.2%, followed by detached homes (38.5%) and townhomes (35.2%) in Maple Ridge.
REBGV reports that residential home sales in the region totalled 2,688 in December 2021, a 13.1% decrease from the 3,093 sales recorded in December 2020, and a 21.6% decrease from the 3,428 homes sold in November 2021.
Last month’s sales were 33.4% above the 10-year December sales average.
There were 1,945 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2021. This represents a 19.3% decrease compared to the 2,409 homes listed in December 2020 and a 50.9% decrease compared to November 2021 when 3,964 homes were listed.
For all property types, the sales-to-active listings ratio for December 2021 is 51.3%. By property type, the ratio is 35.1% for detached homes, 75.6% for townhomes, and 60.8% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
Sales of detached homes in December 2021 reached 794, a 22.6% decrease from the 1,026 sales recorded in December 2020. The benchmark price for a detached home is $1,910,200. This represents a 22% increase from December 2020 and a 2.1% increase compared to November 2021.
Sales of apartment homes reached 1,464 in December 2021, a 1.4% decrease compared to the 1,474 sales in December 2020. The benchmark price of an apartment home is $761,800. This represents a 12.8% increase from December 2020 and a 1.2% increase compared to November 2021.
Attached home sales in December 2021 totalled 430, a 27.5% decrease compared to the 593 sales in December 2020. The benchmark price of an attached home is $1,004,900. This represents a 22% increase from December 2020 and a 1.5% increase compared to November 2021.
Source: The Real Estate Board of Greater Vancouver
Posted on
December 10, 2021
by
Kris Hall
As we near the end of 2021, home buyer demand remains well in excess of long-term averages and the supply of homes for sale continues to decline across Metro Vancouver’s* housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,428 in November 2021, an 11.9% increase from the 3,064 sales recorded in November 2020, and a 1.9% decrease from the 3,494 homes sold in October 2021. Last month’s sales were 33.6% above the 10-year November sales average.
"We expect home sale totals to end the year at or near an all-time record in our region. We’ve had elevated home sale activity throughout 2021 despite persistently low levels of homes available for sale. With a new year around the corner, it’s critical that this supply crunch remains the focus for addressing the housing affordability challenges in our region." - Keith Stewart, REBGV economist
There were 3,964 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2021. This represents a 2.6% decrease compared to the 4,068 homes listed in November 2020 and a 2.1% decrease compared to October 2021 when 4,049 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 7,144, a 35.7% decrease compared to November 2020 (11,118) and a 11.1% decrease compared to October 2021 (8,034).
For all property types, the sales-to-active listings ratio for November 2021 is 48%. By property type, the ratio is 33.8% for detached homes, 74.3% for townhomes, and 53.7% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
“The imbalance between supply and demand, coupled with some buyers wanting to use rate holds on lower rate fixed-term mortgages, is keeping upward pressure on home prices in this traditionally quieter time of year for the market,” Stewart said.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,211,200. This represents a 16% increase over November 2020 and a one% increase compared to October 2021.
Sales of detached homes in November 2021 reached 987, a seven% decrease from the 1,061 detached sales recorded in November 2020. The benchmark price for a detached home is $1,870,000. This represents a 20.8% increase from November 2020 and a 1.1% increase compared to October 2021.
Sales of apartment homes reached 1,828 in November 2021, a 33.3% increase compared to the 1,371 sales in November 2020. The benchmark price of an apartment home is $752,800. This represents an 11.4% increase from November 2020 and a 0.9% increase compared to October 2021.
Attached home sales in November 2021 totalled 613, a three% decrease compared to the 632 sales in November 2020. The benchmark price of an attached home is $990,300. This represents a 20.2% increase from November 2020 and a 1.6% increase compared to October 2021.
Source: The Real Estate Board of Greater Vancouver
Posted on
November 13, 2021
by
Kris Hall
Home sale activity in Metro Vancouver remained above historical averages in October while the overall supply of homes for sale dipped to levels not seen in three years. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,494 in October 2021, a 5.2% decrease from the 3,687 sales recorded in October 2020, and an 11% increase from the 3,149 homes sold in September 2021. Last month’s sales were 22.4% above the 10-year October sales average.
"Home sale activity continues to outpace what’s typical for this time of year and the pool of homes available for sale is in decline. This dynamic between supply and demand is causing home prices to continue to edge up across the region." - Keith Stewart, REBGV economist
There were 4,049 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2021. This represents a 27.3% decrease compared to the 5,571 homes listed in October 2020 and a 21.7% decrease compared to September 2021 when 5,171 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,034, a 35.3% decrease compared to October 2020 (12,416) and a 13% decrease compared to September 2021 (9,236).
“Rising fixed mortgage rates should eventually help ease demand, but for now sales remain strong and buyers with rate holds will remain motivated to find a property for the rest of the year,” Stewart said.
For all property types, the sales-to-active listings ratio for October 2021 is 43.5%. By property type, the ratio is 33.6% for detached homes, 64.4% for townhomes, and 46.7% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is $1,199,400. This represents a 14.7% increase over October 2020 and a 1.1% increase compared to September 2021.
Sales of detached homes in October 2021 reached 1,090, an 18.4% decrease from the 1,335 detached sales recorded in October 2020. The benchmark price for a detached home is $1,850,500. This represents a 20.5% increase from October 2020 and a 1.2% increase compared to September 2021.
Sales of apartment homes reached 1,801 in October 2021, a 14.7% increase compared to the 1,570 sales in October 2020. The benchmark price of an apartment home is $746,400. This represents a 9.5% increase from October 2020 and a 1.1% increase compared to September 2021.
Attached home sales in October 2021 totalled 603, a 22.9% decrease compared to the 782 sales in October 2020. The benchmark price of an attached home is $975,000. This represents an 18.5% increase from October 2020 and a 1.2% increase compared to September 2021.
Source: The Real Estate Board of Greater Vancouver
Posted on
October 19, 2021
by
Amalia Liapis
I have sold a property at 2755 27TH AVE E in Vancouver.
EXPANSIVE downtown and mountain views!! 4 bedroom / 2 bathroom home in tranquil residential neighborhood with stunning views from NE side of property. Open layout and large principal rooms. Main floor includes two bedrooms, one bathroom and below is 2 bedrooms and 1 bathroom finished suite with private entrance. Large back patio and carport. Centrally located and just blocks from skytrain, Norquay Elementary, Slocan Park and more. Huge redevelopment potential with VIEWS!
Posted on
October 16, 2021
by
Kris Hall
Home sale activity remains elevated across Metro Vancouver’s* housing market while the pace of homes being listed for sale continues to follow long-term averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,149 in September 2021, a 13.6% decrease from the 3,643 sales recorded in September 2020, and a 0.1% decrease from the 3,152 homes sold in August 2021. Last month’s sales were 20.8% above the 10-year September sales average.
There were 5,171 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2021. This represents a 19.2% decrease compared to the 6,402 homes listed in September 2020 and a 28.2% increase compared to August 2021 when 4,032 homes were listed.
September’s new listings were 1.2% below the 10-year average for the month.
"The summer trend of above-average home sales and historically typical new listings activity continued in Metro Vancouver last month. Although this is keeping the overall supply of homes for sale low, we’re not seeing the same upward intensity on home prices today as we did in the spring. Home price trends will, however, vary depending on property type and neighborhood, so it’s important to take a hyperlocal look at your location and property category of choice before making a home buying or selling decision." - Keith Stewart, REBGV economist
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,236. This is a 29.5% decrease compared to September 2020 (13,096), a 2.6% increase compared to August 2021 (9,005), and is 27.7% below the 10-year average for the month.
For all property types, the sales-to-active listings ratio for September 2021 is 34.1%. By property type, the ratio is 25.5% for detached homes, 53.1% for townhomes, and 36.7% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
“The total inventory of homes for sale remains insufficient to meet the demand in today’s market. This scarcity limits peoples’ purchasing options and ultimately adds upward pressure on home prices,” Stewart said. “With the federal election now behind us, we hope to see governments at all levels work with the construction industry to streamline the creation of a more abundant and diverse supply of housing options.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $ 1,186,100. This represents a 13.8% increase over September 2020 and a 0.8% increase compared to August 2021.
Sales of detached homes in September 2021 reached 950, a 27.9% decrease from the 1,317 detached sales recorded in September 2020. The benchmark price for a detached home is $1,828,200. This represents a 20.4 percent increase from September 2020 and a 1.2% increase compared to August 2021.
Sales of apartment homes reached 1,621 in September 2021, a 1.6% increase compared to the 1,596 sales in September 2020. The benchmark price of an apartment home is $ 738,600. This represents an 8.4% increase from September 2020 and a 0.5% increase compared to August 2021.
Attached home sales in September 2021 totalled 578, a 20.8% decrease compared to the 730 sales in September 2020. The benchmark price of an attached home is $963,800. This represents a 17.5% increase from September 2020 and a 1.2% increase compared to August 2021.
Source: The Real Estate Board of Greater Vancouver
Posted on
October 12, 2021
by
Amalia Liapis
I have listed a new property at 2755 27TH AVE E in Vancouver.
EXPANSIVE downtown and mountain views!! 4 bedroom / 2 bathroom home in tranquil residential neighborhood with stunning views from NE side of property. Open layout and large principal rooms. Main floor includes two bedrooms, one bathroom and below is 2 bedrooms and 1 bathroom finished suite with private entrance. Large back patio and carport. Centrally located and just blocks from skytrain, Norquay Elementary, Slocan Park and more. Huge redevelopment potential with VIEWS!
Posted on
September 14, 2021
by
Kris Hall
While home buyers have remained active in Metro Vancouver throughout the summer, the supply of homes for sale has declined steadily since June. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,152 in August 2021, a 3.4% increase from the 3,047 sales recorded in August 2020, and a 5.2% decrease from the 3,326 homes sold in July 2021. Last month’s sales were 20.4% above the 10-year August sales average.
"August was busier than expected, and listings activity isn’t keeping up with the pace of demand. This is leaving the market under supplied." - Keith Stewart, REBGV economist
There were 4,032 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2021. This represents a 30.6% decrease compared to the 5,813 homes listed in August 2020 and a 7.9% decrease compared to July 2021 when 4,377 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,005, a 29.7% decrease compared to August 2020 (12,803) and an 8.6% decrease compared to July 2021 (9,850).
“Housing supply is the biggest factor impacting the market right now. To help relieve pressure on prices and improve people's home buying options, the market needs a more abundant supply of homes for sale.” Stewart said. “Housing affordability has been a key issue in the federal election. We encourage the political parties to focus on policy solutions that will help streamline the creation of more diverse housing options for hopeful home buyers today and into the future.”
For all property types, the sales-to-active listings ratio for August 2021 is 35%. By property type, the ratio is 25.3% for detached homes, 51.8% for townhomes, and 39.2% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
“When assessing the market, it’s important to understand that while year-over-year price increases have reached double digits, most of the increases happened three or more months ago,” Stewart said. “To better understand the latest home price trends in your preferred location and home type, talk with your local REALTOR®.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,176,600. This represents a 13.2 % increase over August 2020 and a 0.1% increase compared to July 2021.
Sales of detached homes in August 2021 reached 945, a 13.7% decrease from the 1,095 detached sales recorded in August 2020. The benchmark price for a detached home is $1,807,100. This represents a 20.4% increase from August 2020 and a 0.3% increase compared to July 2021.
Sales of apartment homes reached 1,631 in August 2021, a 22.4% increase compared to the 1,332 sales in August 2020. The benchmark price of an apartment property is $735,100. This represents a 7.6% increase from August 2020 and a 0.2% decrease compared to July 2021.
Attached home sales in August 2021 totalled 576, a 7.1% decrease compared to the 620 sales in August 2020. The benchmark price of an attached home is $952,600. This represents a 16.5% increase from August 2020 and a 0.3% increase compared to July 2021.
Source: The Real Estate Board of Greater Vancouver
Posted on
August 15, 2021
by
Kris Hall

Metro Vancouver’s housing market saw more moderate sales, listings and pricing trends in July compared to the heightened activity experienced throughout much of the pandemic.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,326 in July 2021, a 6.3% increase from the 3,128 sales recorded in July 2020, and an 11.6% decrease from the 3,762 homes sold in June 2021.
Last month’s sales were 13.3% above the 10-year July sales average.
"Moderation was the name of the game in July. Home sales and listings fell in line with typical seasonal patterns as summer got going in earnest in July. On top of moderating market activity, price growth has leveled off in most areas and home types." - Keith Stewart, REBGV economist
There were 4,377 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2021. This represents a 26.4% decrease compared to the 5,948 homes listed in July 2020 and a 25.2% decrease compared to June 2021 when 5,849 homes were listed.
July’s new listings were 12.3% below the 10-year average for the month.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,850, an 18.5% decrease compared to July 2020 (12,083) and a 9.1% decrease compared to June 2021 (10,839).
“Low housing supply remains a fundamental factor in Metro Vancouver’s housing market,” Stewart said. "Home sales remain above average and we’re starting to see price increases relent as well. Going forward, the supply of homes for sale will be among the most critical factors to watch. This will determine the next direction for house price trends."
For all property types, the sales-to-active listings ratio for July 2021 is 33.8%. By property type, the ratio is 25.5% for detached homes, 47.8% for townhomes, and 37.3% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,175,500. This represents a 13.8% increase over July 2020 and is unchanged from June 2021.
Sales of detached homes in July 2021 reached 1,050, a 6.3% decrease from the 1,121 detached sales recorded in July 2020. The benchmark price for a detached home is $1,801,100. This represents a 21% increase from July 2020 and is unchanged from June 2021.
Sales of apartment homes reached 1,666 in July 2021, a 19% increase compared to the 1,400 sales in July 2020. The benchmark price of an apartment property is $736,900. This represents an 8.4% increase from July 2020 and a 0.1% decrease compared to June 2021.
Attached home sales in July 2021 totalled 610, a 0.5% increase compared to the 607 sales in July 2020. The benchmark price of an attached home is $949,400. This represents a 16.7% increase from July 2020 and a 0.3% increase compared to June 2021.
Source: The Real Estate Board of Greater Vancouver
Posted on
July 10, 2021
by
Amalia Liapis
While still elevated, home sale and listing activity in Metro Vancouver has eased back from the record-setting pace seen in March and April of this year. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,762 in June 2021, a 54% increase from the 2,443 sales recorded in June 2020, and an 11.9 % decrease from the 4,268 homes sold in May 2021. Last month’s sales were 18.4 % above the 10-year June sales average.
"Metro Vancouver’s housing market continues to experience strong seller’s market conditions, although the intensity of demand has eased from what we saw throughout most of the spring. The past two months have shown a market that’s shifting toward more historically typical conditions."- Keith Stewart, REBGV economist.
There were 5,849 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2021. This represents a 1.1% increase compared to the 5,787 homes listed in June 2020 and a 17.9% decrease compared to May 2021 when 7,125 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,839, a 5.1% decrease compared to June 2020 (11,424) and a 1.2% decrease compared to May 2021 (10,970).
“With low interest rates, a growing economy, and an improving job market, the Metro Vancouver housing market continues to enjoy solid economic fundamentals,” Stewart said. “We’re now seeing a market that’s beginning to normalize from the torrid pace in the spring. This is making multiple offers less common, allowing subjects to be seen on offers more frequently again, and is making new price records less likely.”
For all property types, the sales-to-active listings ratio for June 2021 is 34.7%. By property type, the ratio is 27.5% for detached homes, 49.2% for townhomes, and 37.1% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,175,100. This represents a 14.5% increase over June 2020 and a 0.2% increase compared to May 2021.
Sales of detached homes in June 2021 reached 1,262, a 45.7% increase from the 866 detached sales recorded in June 2020. The benchmark price for detached properties is $1,801,100. This represents a 22% increase from June 2020 and is virtually unchanged from May 2021.
Sales of apartment homes reached 1,774 in June 2021, a 60.5% increase compared to the 1,105 sales in June 2020. The benchmark price of an apartment is $737,600. This represents a 8.9 % increase from June 2020 and a 0.1% increase compared to May 2021.
Attached home sales in June 2021 totalled 726, a 53.8% increase compared to the 472 sales in June 2020. The benchmark price of an attached home is $946,900. This represents a 17.4% increase from June 2020 and a 1.1% increase compared to May 2021.
Source: The Real Estate Board of Greater Vancouver
Posted on
June 9, 2021
by
Amalia Liapis
The Metro Vancouver housing market saw steady home sale and listing activity in May, a shift back from the record-breaking activity seen in the earlier spring months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,268 in May 2021, a 187.4% increase from the 1,485 sales recorded in May 2020, and a 13% decrease from the 4,908 homes sold in April 2021. Last month’s sales were 27.7 per cent above the 10-year May sales average.
"While home sale and listing activity remained above our long-term averages in May, conditions moved back from the record-setting pace experienced throughout Metro Vancouver in March and April of this year. With a little less intensity in the market today than we saw earlier in the spring, home sellers need to ensure they’re working with their REALTOR® to price their homes based on current market conditions."- Keith Stewart, REBGV economist.
There were 7,125 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2021. This represents a 93.4% increase compared to the 3,684 homes listed in May 2020 and a 10.2% decrease compared to April 2021 when 7,938 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,970, a 10.5% increase compared to May 2020 (9,927) and a 7.1% increase compared to April 2021 (10,245).
"With sales easing down from record peaks, a revised mortgage stress test that reduces the maximum borrowing amounts by approximately 4.5 per cent, and the average five-year fixed mortgage rates climbing back over two per cent since the beginning of 2021, we’ll pay close attention to these factors leading into the summer to understand what affect they’ll have on the current market cycle,” Stewart said.
For all property types, the sales-to-active listings ratio for May 2021 is 38.9%. By property type, the ratio is 29.8% for detached homes, 53.8% for townhomes, and 43.5% for apartments.
Source: The Real Estate Board of Greater Vancouver
Posted on
May 7, 2021
by
Amalia Liapis
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,908 in April 2021, a 342.6% increase from the 1,109 sales recorded in April 2020, and a 14% decrease from the 5,708 homes sold in March 2021. Last month’s sales were 56.2% above the 10-year April sales average and is the highest total on record for the month.
"Our housing market has changed considerably from one year ago when COVID-19 concerns brought activity to a near standstill. This was followed by a well-documented spike in home buyer demand across the region. So far this spring, we’ve seen a corresponding supply response from home sellers." - Keith Stewart, REBGV economist.
There were 7,938 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2021. This represents a 243.2% increase compared to the 2,313 homes listed in April 2020, a 4.2% decrease compared to March 2021 when 8,287 homes were listed and is the highest new listing total ever recorded in the region in April.
"While homes are now being listed at record levels, more supply is needed to meet today's demand and help market conditions achieve greater balance," Stewart said.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,245, a 9.1% increase compared to April 2020 (9,389) and a 12% increase compared to March 2021 (9,145). Today’s active listings total is 11.2% below the 10-year April average.
For all property types, the sales-to-active listings ratio for April 2021 is 47.9%. By property type, the ratio is 37.4% for detached homes, 70% for townhomes, and 51.5% for apartments.
Source: Real Estate Board of Greater Vancouver
Posted on
April 9, 2021
by
Amalia Liapis
Home buyer and seller activity reached unprecedented levels across Metro Vancouver in March. In March 2020, there were 2,524 residential property sales. Fast forward one year, there were 5,708 sales in March 2021 which is a 126.1% increase and a 53.2% increase from February 2021. Last month’s sales were 72.2% above the 10-year March sales average and is the highest monthly sales total ever recorded in the region.
"In March, residents bought and listed homes across our region at levels not seen before. This surge in activity is increasing upward pressure on prices. We’re beginning to see double-digit price gains for single-family homes and townhomes over the last 12 months." - Taylor Biggar, REBGV Chair
Demand was most pronounced in rural and suburban areas. Delta – South saw a 195.8% increase in sales over 2020 – the largest increase in Metro Vancouver. This was followed by Whistler, which experienced a 194.7% increase, and Squamish, which saw a 188.6% increase in sales.
There were 8,287 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2021. This represents an 86.8% increase compared to the 4,436 homes listed in March 2020 and a 64.2% increase compared to February 2021 when 5,048 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,145, a 4.8% decrease compared to March 2020 (9,606) and a 9.4% increase compared to February 2021 (8,358). This is 18.6% below the 10-year March total listings average.
“While we did see a record number of listings enter the market last month, the demand in today’s market isn’t allowing that new supply to accumulate. As a result, the overall inventory of homes for sale decreased compared to last year,” said Biggar.
For all property types, the sales-to-active listings ratio for March 2021 is 62.4%. By property type, the ratio is 52.9% for detached homes, 79.9% for townhomes, and 65.4% for apartments.
Source: Real Estate Board of Greater Vancouver
Posted on
March 7, 2021
by
Amalia Liapis
Comparing February 2021 to February 2020, the statistics are as follows:
- Detached Properties - Decrease of 27.5% in total active listings, increase of 81.8% in sales, decrease of 15.2% in days on market average and increase of 13.7% for the MLS® HPI benchmark price.
- Condos - Increase of 5.3% in total active listings, increase of 66.4% in sales, increase of 6.5% in days on market average and increase of 2.5% for the MLS® HPI benchmark price.
- Townhomes - Decrease of 27.3% in total active listings, increase of 79.9% in sales, decrease of 31.3% in days on market average and increase of 7.2% for the MLS® HPI benchmark price.
Source: Real Estate Board of Greater Vancouver
Posted on
February 17, 2021
by
Amalia Liapis

The British Columbia Real Estate Association (BCREA) reports that a total of 7,169 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January 2021, an increase of 63.3% over January 2020 and over a thousand sales higher than the previous record for the month of January. The average MLS® residential price in BC was $845,169, a 16.1% increase from $728,269 recorded in January 2020. Total sales dollar volume was $6.1 Billion, an 89.6% increase from last year.
"It was once again a record-setting month for the provincial housing market," said BCREA Chief Economist Brendon Ogmundson. "While sales were strong across all regions of the province, the Fraser Valley, Interior and Vancouver Island regions shattered previous sales records and pushed January sales to new heights."
Total active residential listings were down 21.5% to 20,254 units in January, the lowest level of provincial active listings on record, going back to 2000. With strong sales and so few listings, market conditions are exceptionally tight with less than three months of total supply.
"The supply of listings continues to be held back by the pandemic," added Ogmundson. "With so few listings, markets are starved for supply and prices are under extraordinary pressure."
The average price and unit sales, broken down by statistics from each Real Estate Board can be found below:

Source: British Columbia Real Estate Association
Posted on
February 7, 2021
by
Amalia Liapis
Comparing January 2021 to January 2020, the statistics are as follows:
- Detached Properties - Decrease of 26.5% in total active listings, increase of 69.9% in sales, decrease of 26.1% in days on market average and increase of 10.8% for the MLS® HPI benchmark price.
- Condos - Increase of 23.2% in total active listings, increase of 46.7% in sales, increase of 2.3% in days on market average and increase of 2.2% for the MLS® HPI benchmark price.
- Townhomes - Decrease of 16.8% in total active listings, increase of 38.0% in sales, decrease of 41.4% in days on market average and increase of 4.3% for the MLS® HPI benchmark price.
Source: Real Estate Board of Greater Vancouver
Posted on
January 15, 2021
by
Amalia Liapis

There were 8,268 MLS® residential unit sales recorded across the province in December, a record for the month which represents an increase of 57.8% from December 2019. The average MLS® residential price in BC was $847,600, an increase of 12.5% from the same month last year. Total sales dollar volume was $7 Billion, a 77.5% increase year-over-year.
“While 2021 is expected to get off to a roaring start, the level of supply in the market is near a record low,” added Ogmundson. “That will likely translate to considerable pressure on prices until listings pick-up.”
There were 93,953 residential unit sales recorded by MLS® in 2020, an increase of 21.5% from the 77,350 units sold in 2019. The annual average MLS® residential price in BC was $782,027, an 11.7% increase from $700,369 recorded the previous year. Total sales dollar volume was $73.5 Billion, a 35.6% increase from 2019.
“Housing markets across the province staged a remarkable recovery during the COVID-19 pandemic and recession,” said BCREA Chief Economist Brendon Ogmundson. “We expect considerable momentum heading into 2021.”
Total active residential listings were down 16.1% to 20,725 units in December. The average price and unit sales, broken down by statistics from each Real Estate Board can be found below. Year-over-year % change in parentheses.

Source: British Columbia Real Estate Association
Posted on
November 26, 2020
by
Amalia Liapis
I have sold a property at 207 138 HASTINGS ST E in Vancouver.
AFFORDABLE 1 bedroom / 1 bath at Sequel 138, just steps from Gastown, Tinseltown, Chinatown and the downtown core. Built in late 2015, building features a unique central courtyard and open breezeways, reclaimed wood harvest table, shared BBQ and resident urban garden plots. Home features include 9 ft ceilings, hidden Blomberg fridge, SS range, mounted microwave, Corian countertops, insuite washer/dryer combo & laminate flooring throughout. Low maintenance fees, balance of New Home Warranty, low property taxes & great potential rent return for INVESTORS. Don't miss this one!
Posted on
November 18, 2020
by
Amalia Liapis

The British Columbia Real Estate Association reports that a total of 9,416 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November 2020, an increase of 42.1% from November 2019. The average MLS® residential price in BC set a record of $816,074, a 9.3% increase from $746,310 recorded the previous year. Total sales dollar volume in November was $7.68 Billion, a 55.4% increase over 2019.
“Home sales were once again unseasonably strong in November with several markets setting records for the month,” said BCREA Chief Economist Brendon Ogmundson. “While demand continues to be strong, the supply of listings has reached near-record lows in several parts of the province, with prices rising sharply as a result."
Active listings were down close to 14% year-over-year in November, which contributed to a 34.8% sales-to-active listings ratio. Consequently, the provincial average price rose 9.3% compared to this time last year with many markets seeing even stronger price growth.
Year-to-date, BC residential sales dollar volume was up 32.3% to $66.43 Billion, compared with the same period in 2019. Residential unit sales were up 18.7% to 85,625 units, while the average MLS® residential price was up 11.4% to $775,845.
The average price and unit sales, broken down by statistics from each Real Estate Board can be found below:

Source: British Columbia Real Estate Association
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WeRentVancouver
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