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March 2021 Metro Vancouver Housing

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Posted in Housing Statistics, March 2021, Metro Vancouver Housing, Real Estate, Squamish, Statis, Whistler

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

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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.