Office 604-602-1111

Email: bonnie@bonniehastings.com

Login \ Sign up

Blog

The May 2021 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West.

  • Activity Snapshot by Property Type
  • Detached Properties Report and Graph
  • Condo Report and Graph
  • Townhomes Report and Graph
  • Benchmark Price Graph
  • Average Price Per Square Foot

If you are interested in a report like this is for other areas, please contact me to request it and I'll send it to you.

DOWNLOAD VANCOUVER EAST & WEST

Read full post

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 per cent increase from the 1,485 sales recorded in May 2020, and a 13 per cent 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,” Keith Stewart, REBGV economist said. “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.”

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 per cent increase compared to the 3,684 homes listed in May 2020 and a 10.2 per cent 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 per cent increase compared to May 2020 (9,927) and a 7.1 per cent 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 rate 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 per cent. By property type, the ratio is 29.8 per cent for detached homes, 53.8 per cent for townhomes, and 43.5 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“The seller’s market conditions experienced throughout much of the pandemic highlight the need for increasing the volume and variety of housing supply across our region,” Stewart said. “Doing this requires a more disciplined focus on planning, reducing building costs, understanding demographic changes, and expediting the building approval process.”

The MLS® Home Price Index1 composite benchmark price for all residential properties in Metro Vancouver is currently $1,172,800. This represents a 14 per cent increase over May 2020 and a 1.5 per cent increase compared to April 2021.

Sales of detached homes in May 2021 reached 1,430, a 166 per cent increase from the 537 detached sales recorded in May 2020. The benchmark price for a detached home is $1,800,600. This represents a 22.8 per cent increase from May 2020 and a 1.7 per cent increase compared to April 2021.

Sales of apartment homes reached 2,049 in May 2021, a 213 per cent increase compared to the 653 sales in May 2020. The benchmark price of an apartment home is $737,100. This represents a 7.9 per cent increase from May 2020 and a 1.2 per cent increase compared to April 2021.

Attached home sales in May 2021 totalled 800, a 168 per cent increase compared to the 298 sales in May 2020. The benchmark price of an attached home is $936,300. This represents a 16.3 per cent increase from May 2020 and a 1.8 per cent increase compared to April 2021.

REBGV Stats Graph May 2021

GET THIS FULL REPORT

Read full post

Bonnie Hastings has just sold a home at 84 7233 189 ST in Surrey.
Welcome to The TATE constructed by the Award winning Builder Mosaic! This home is located in Surrey's Clayton Village and is very close to public transit, grocery shopping, tasty restaurants and a good selection of schools! Modern Colonial Style Town home is full of light with a open concept and rich in detail & design so that ever inch counts! Highlights include: Large kitchen w/Solid wood cabinetry, Silestone countertops, black appliances, built-in Microwave oven, hardwood laminate flooring, freshly painted, 9 Ft ceilings, large deck off the living room and much much more! With 2 bedroom & den (den could be used as a 3rd as it has been enclosed ) and 2 baths and a attached garage it truly does feel like a detached home. A perfect place to call home for young families.
If you would like to know what this home sold for, please feel free to contact her.
Read full post

Bonnie Hastings has just sold a home at 34 7238 189 ST in Surrey.
Welcome to Tate, by award winning Mosaic! This well appointed two bedroom plus den features an open-concept main level that is bright and airy, with a large balcony off the living room surrounded by a background of beautiful green trees. Enjoy cooking meals in your spacious kitchen, with stainless steel appliances and quartz countertops. Two large bedrooms upstairs along with a 5-piece washroom. The den and powder bath below offer the perfect space for a home office. BONUS: Entrance off 72 Ave provides additional parking right at your doorstep! Well run, pet friendly strata with low maintenance fees. Fantastic central location, minutes from brand-new Clayton Community Centre, Hazelgrove Elementary and park, Ecole Salish Secondary, Clayton Park & Off-Leash Dog Park. Showings by apt.
If you would like to know what this home sold for, please feel free to contact her.
Read full post

Bonnie Hastings has just sold a home at 34 7238 189 ST in Surrey.
Welcome to Tate, by award winning Mosaic! This well appointed two bedroom plus den features an open-concept main level that is bright and airy, with a large balcony off the living room surrounded by a background of beautiful green trees. Enjoy cooking meals in your spacious kitchen, with stainless steel appliances and quartz countertops. Two large bedrooms upstairs along with a 5-piece washroom. The den and powder bath below offer the perfect space for a home office. BONUS: Entrance off 72 Ave provides additional parking right at your doorstep! Well run, pet friendly strata with low maintenance fees. Fantastic central location, minutes from brand-new Clayton Community Centre, Hazelgrove Elementary and park, Ecole Salish Secondary, Clayton Park & Off-Leash Dog Park. Showings by apt.
If you would like to know what this home sold for, please feel free to contact her.
Read full post

Bonnie Hastings has just listed a new home at 84 7233 189 ST in Surrey.
Welcome to The TATE constructed by the Award winning Builder Mosaic! This home is located in Surrey's Clayton Village and is very close to public transit, grocery shopping, tasty restaurants and a good selection of schools! Modern Colonial Style Town home is full of light with a open concept and rich in detail & design so that ever inch counts! Highlights include: Large kitchen w/Solid wood cabinetry, Silestone countertops, black appliances, built-in Microwave oven, hardwood laminate flooring, freshly painted, 9 Ft ceilings, large deck off the living room and much much more! With 2 bedroom & den (den could be used as a 3rd as it has been enclosed ) and 2 baths and a attached garage it truly does feel like a detached home. A perfect place to call home for young families.
If you have any questions or would like more information, please don't hesitate to contact her!
Read full post

Bonnie Hastings has just listed a new home at 84 7233 189 ST in Surrey.
Welcome to The TATE constructed by the Award winning Builder Mosaic! This home is located in Surrey's Clayton Village and is very close to public transit, grocery shopping, tasty restaurants and a good selection of schools! A Modern Colonial Style Townhome filled with light and a open concept rich in detail & design so that ever inch is covered! Highlights incl: Large kitchen with Solid wood cabinetry, Silestone countertops, black appliances, ceramic cooktop, built-in microwave oven, hardwood laminate flooring, freshly painted, 9 Ft ceilings, large deck off the living room and much much more! With 2 bedrooms & den (den could be used as a 3rd as it has been enclosed ) and 2 baths and a attached garage it truly does feel like a detached home. A perfect place to call home for young families, folks downsizing or Investors looking for a turn key investment. Pets and Rentals are allowed. Be quick!
If you have any questions or would like more information, please don't hesitate to contact her!
Read full post

The April 2021 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West.

  • Activity Snapshot by Property Type
  • Detached Properties Report and Graph
  • Condo Report and Graph
  • Townhomes Report and Graph
  • Benchmark Price Graph
  • Average Price Per Square Foot

If you are interested in a report like this is for other areas, please contact me to request it and I'll send it to you.

DOWNLOAD VANCOUVER EAST&WEST

Read full post

Home sellers have become increasingly active in Metro Vancouver’s housing market this spring in response to heightened demand and rising home values that have materialized during the pandemic.

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 per cent increase from the 1,109 sales recorded in April 2020, and a 14 per cent decrease from the 5,708 homes sold in March 2021.

Last month’s sales were 56.2 per cent 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,” Keith Stewart, REBGV’s economist said. “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."

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 per cent increase compared to the 2,313 homes listed in April 2020, a 4.2 per cent 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 per cent increase compared to April 2020 (9,389) and a 12 per cent increase compared to March 2021 (9,145).

Today’s active listings total is 11.2 per cent below the 10-year April average.

For all property types, the sales-to-active listings ratio for April 2021 is 47.9 per cent. By property type, the ratio is 37.4 per cent for detached homes, 70 per cent for townhomes, and 51.5 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Record low interest rates, increased household savings, a strengthening economy and a continued focus on living space during the pandemic are all factors that are helping to bolster demand while steady price growth is encouraging more sellers to list their homes,” Stewart said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,152,600. This represents a 12 per cent increase over April 2020 and a 2.6 per cent increase compared to March 2021.

"With our market at record activity in recent months, and with the continued safety risk that COVID-19 poses, REALTORS® remain focused on helping their clients make sound and responsible buying and selling decisions today while continuing to strictly follow the pandemic safety protocols established for real estate in our province," Taylor Biggar, REBGV Chair said.

Sales of detached homes in April 2021 reached 1,655, a 326.5 per cent increase from the 388 detached sales recorded in April 2020. The benchmark price for a detached home is $1,755,500. This represents a 20.9 per cent increase from last year and a 3.2 per cent increase compared to March 2021.

Sales of apartment homes reached 2,289 in April 2021, a 355.1 per cent increase compared to the 503 sales in April 2020. The benchmark price of an apartment home is $729,600. This represents a 5.9 per cent increase from April 2020 and a 1.9 per cent increase compared to March 2021.

Attached home sales in April 2021 totalled 964, a 342.2 per cent increase compared to the 218 sales in April 2020. The benchmark price of an attached home is $900,900. This represents a 13.9 per cent increase from April 2020 and a 3.3 per cent increase compared to March 2021.

REBGV Stats Graph April 2021

GET THIS FULL REPORT

Read full post

The February 2021 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West.

  • Activity Snapshot by Property Type
  • Detached Properties Report and Graph
  • Condo Report and Graph
  • Townhomes Report and Graph
  • Benchmark Price Graph
  • Average Price Per Square Foot

If you are interested in a report like this is for other areas, please contact me to request it and I'll send it to you.

DOWNLOAD VANCOUVER EAST&WEST

Read full post

Competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver’s* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,727 in February 2021, a 73.3 per cent increase from the 2,150 sales recorded in February 2020, and a 56 per cent increase from the 2,389 homes sold in January 2021.

Last month’s sales were 42.8 per cent above the 10-year February sales average.

“Metro Vancouver’s housing market is experiencing seller’s market conditions. The supply of listings for sale isn’t keeping up with the demand we’re seeing,” Colette Gerber, REBGV Chair said. “Competition amongst home buyers is causing multiple offer situations and upward pressure on prices.

“This is particularly true in the townhome market where demand is outstripping the available supply. Conditions differ depending on location and property type so it’s important to work with your local REALTOR® to develop strategies to meet your needs.”

There were 5,048 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2021. This represents a 26.1 per cent increase compared to the 4,002 homes listed in February 2020 and a 12.7 per cent increase compared to January 2021 when 4,480 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,358, a 9.1 per cent decrease compared to February 2020 (9,195) and a 0.6 per cent increase compared to January 2021 (8,306). This is 21.2 per cent below the February 10-year average for new listings.

For all property types, the sales-to-active listings ratio for February 2021 is 44.6 per cent. By property type, the ratio is 41.8 per cent for detached homes, 61.8 per cent for townhomes, and 41.7 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Low interest rates remain a key driver in today’s market. We’re seeing steady numbers of first-time home buyers and move-up buyers entering the market,” Gerber said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,084,000. This represents a 6.8 per cent increase over February 2020 and a 2.6 per cent increase compared to January 2021.

Less populated communities within the region continue to experience the largest year-over-year price increases across all property types. Examples, according to the MLS HPI®. include Bowen Island (34.4 per cent increase), the Sunshine Coast (32.7 per cent increase), West Vancouver (16.1 per cent increase) Maple Ridge (14.8 per cent increase) and Ladner (13.7 per cent increase).

Sales of detached homes in Metro Vancouver reached 1,231 in February 2021, a 79.7 per cent increase from the 685 detached sales recorded in February 2020. The benchmark price for a detached home is $1,621,200. This represents a 13.7 per cent increase from February 2020 and a 2.8 per cent increase compared to January 2021.

Sales of apartment homes reached 1,759 in February 2021, a 65.8 per cent increase compared to the 1,061 sales in February 2020. The benchmark price of an apartment is $697,500. This represents a 2.5 per cent increase from February 2020 and a 2.5 per cent increase compared to January 2021.

Attached home sales in February 2021 totalled 737, an 82.4 per cent increase compared to the 404 sales in February 2020. The benchmark price of an attached home is $839,800. This represents a 7.2 per cent increase from February 2020 and a 2.9 per cent increase compared to January 2021.

Note:
Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

The real estate industry is a key economic driver in British Columbia. In 2020, 30,944 homes changed ownership in the Board’s area, generating $2.1 billion in economic spin-off activity and an estimated 14,728 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $33.7 billion in 2020.

REBGV Stats Graph February 2021

GET THIS FULL REPORT

Read full post

Bonnie Hastings has just sold a home at 1524 PENDER ST E in Vancouver.
THIS HOME OFFERS MOUNTAIN VIEWS 3 BEDROOMS / 2 FULL BATHROOMS UP A LARGE OPEN CONCEPT ON THE MAIN FLOOR WITH 9 FT CEILINGS, TONS OF WINDOWS FOR FOR PLENTY OF NATURAL LIGHT & A COMPLETELY SEPARATE 2 BEDROOM / 1 BATH SELF CONTAINED SUITE BELOW! HIGHLIGHTS INCL: SOLID WOOD CABINETRY IN THE KITCHEN, SAMSUNG STAINLESS STEEL APPLIANCES, BEAUTIFUL QUARTZ COUNTER TOPS WITH A WATERFALL FEATURE AROUND THE ISLAND, GORGEOUS PENDENT LIGHTING, LED RECESSED FIXTURES FOR THE MAIN SPACE, 8" WIDE ENGINEERED HARDWOOD FLOORS, RADIANT IN FLOOR HEATING, TANKLESS ON DEMAND HOT WATER, BEAUTIFUL USE OF TILES IN THE BATHROOMS. ALSO INCL A DETACHED GARAGE, PLENTY OF OUTDOOR SPACE AND A NATURAL GAS BBQ HOOK UP. THE LOCATION IS JUST 2 BLOCKS FROM COMMERCIAL DRIVE AND 8 MIN DRIVE TO DOWNTOWN .
If you would like to know what this home sold for, please feel free to contact her.
Read full post

Bonnie Hastings has just listed a new home at 1524 PENDER ST E in Vancouver.
THIS HOME OFFERS MOUNTAIN VIEWS 3 BEDROOMS / 2 FULL BATHROOMS UP A LARGE OPEN CONCEPT ON THE MAIN FLOOR WITH 9 FT CEILINGS, TONS OF WINDOWS FOR FOR PLENTY OF NATURAL LIGHT & A COMPLETELY SEPARATE 2 BEDROOM / 1 BATH SELF CONTAINED SUITE BELOW! HIGHLIGHTS INCL: SOLID WOOD CABINETRY IN THE KITCHEN, SAMSUNG STAINLESS STEEL APPLIANCES, BEAUTIFUL QUARTZ COUNTER TOPS WITH A WATERFALL FEATURE AROUND THE ISLAND, GORGEOUS PENDENT LIGHTING, LED RECESSED FIXTURES FOR THE MAIN SPACE, 8" WIDE ENGINEERED HARDWOOD FLOORS, RADIANT IN FLOOR HEATING, TANKLESS ON DEMAND HOT WATER, BEAUTIFUL USE OF TILES IN THE BATHROOMS. ALSO INCL A DETACHED GARAGE, PLENTY OF OUTDOOR SPACE AND A NATURAL GAS BBQ HOOK UP. THE LOCATION IS JUST 2 BLOCKS FROM COMMERCIAL DRIVE AND 8 MIN DRIVE TO DOWNTOWN .
If you have any questions or would like more information, please don't hesitate to contact her!
Read full post

The January 2021 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West.

  • Activity Snapshot by Property Type
  • Detached Properties Report and Graph
  • Condo Report and Graph
  • Townhomes Report and Graph
  • Benchmark Price Graph
  • Average Price Per Square Foot

If you are interested in a report like this is for other areas, please contact me to request it and I'll send it to you.

DOWNLOAD VANCOUVER EAST
DOWNLOAD VANCOUVER WEST

Read full post

In the first month of 2021, Metro Vancouver’s housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,389 in January 2021, a 52.1 per cent increase from the 1,571 sales recorded in January 2020, and a 22.8 per cent decrease from the 3,093 homes sold in December 2020.

Last month’s sales were 36.4 per cent above the 10-year January sales average.

“With home sale activity well above our January average, the supply of homes for sale isn’t able to keep pace,” Colette Gerber, REBGV Chair said. “This is causing increased competition amongst home buyers and upward pressure on prices.”

There were 4,480 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2021. This represents a 15.7 per cent increase compared to the 3,872 homes listed in January 2020 and an 86 per cent increase compared to December 2020 when 2,409 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,306, a 3.6 per cent decrease compared to January 2020 (8,617) and a 2.7 per cent decrease compared to December 2020 (8,538).

For all property types, the sales-to-active listings ratio for January 2021 is 28.8 per cent. By property type, the ratio is 26.3 per cent for detached homes, 37.6 per cent for townhomes, and 27.8 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Shifting housing needs during the pandemic and historically low interest rates have been key drivers of demand in our market over the last six months,” Gerber said. “People who managed to enter the market a few years ago, and have seen their home values increase, are now looking to move up in the market to accommodate their changing needs.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,056,600. This represents a 5.5 per cent increase compared to January 2020 and a 0.9 per cent increase compared to December 2020.

Sales of detached homes in January 2021 reached 740, a 68.6 per cent increase from the 439 detached sales recorded in January 2020. The benchmark price of a detached homes is $1,576,800. This represents a 10.8 per cent increase from January 2020 and a 1.4 per cent increase compared to December 2020.

Sales of apartment homes reached 1,195 in January 2021, a 46.8 per cent increase compared to the 814 sales in January 2020. The benchmark price of an apartment home is $680,800. This represents a 2.2 per cent increase from January 2020 and a 0.6 per cent increase compared to December 2020.

Attached home sales in January 2021 totalled 454, a 42.8 per cent increase compared to the 318 sales in January 2020. The benchmark price of an attached home is $815,800. This represents a 4.3 per cent increase from January 2020 and a 0.2 per cent increase compared to December 2020.

REBGV Stats Graph January 2021

GET THIS FULL REPORT

Read full post

Bonnie Hastings has just sold a home at 11786 SUMMIT CRES in Delta.
Phenomenal, Eye-catching and Re-imagined! Must see open concept 4 bdrm/3 bath, 2647 sq.ft. home on one of Sunshine Hills most sought-after streets (just a short walk to schools, parks, transit & local shopping). Completely & professionally renovated incl. kitchen w/large quartz island, high-end appliances, windows, carpeting, paint inside & out. Patio doors off kitchen lead to private deck w/hot tub. Grand living & dining room showcases new engineered hdwd flooring w/stunning gas fireplace. Upper level features a luxurious primary bdrm w/huge walk in closet & exquisite en-suite featuring large shower & soaker tub. Lower floor incl. 4th bedroom, full bath & family room & patio doors to backyard.
If you would like to know what this home sold for, please feel free to contact her.
Read full post

The December 2020 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West.

  • Activity Snapshot by PropertyType
  • Detached Properties Report and Graph
  • Condo Report and Graph
  • Townhomes Report and Graph
  • Benchmark Price Graph
  • Average Price Per Square Foot

If you are interested in a report like this is for other areas, please contact me to request it and I'll send it to you.

DOWNLOAD VANCOUVER EAST & WEST

Read full post

Bonnie Hastings has just sold a home at 203 1867 3RD AVE W in Vancouver.
This suite is truly something special for so many reasons! It’s been beautifully updated with a warm welcoming Decor. Highlights include: Solid Maple Cabinets, Granite Counter Tops, Stainless Steel Appliances, Breakfast Bar to enjoy while the chef is preparing, hardwood laminate floors in the living area & entrance and a large DEN or 2ND BEDROOM which easily fits a double bed! In-suite Laundry is permitted and has been roughed in for it. The Building is a REALLY RARE find. It is a concrete 4 story low rise situated just a few blocks from the beach and a quick walk to downtown, so the location doesn’t really get any better. A depreciation report was completed in 2018 and the necessary building upgrades completed. Re-piped, new doors & windows, new parkade membrane, elevator modernization, full building enclosure rehabilitation, new carpeting & lighting in the common areas and much more. Don’t miss out on this one!!
If you would like to know what this home sold for, please feel free to contact her.
Read full post

Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded in 2019, and a 25.7 per cent increase from the 24,619 homes sold in 2018.

Last year’s sales total was 2.8 per cent below the 10-year sales average.

“When the pandemic began in March, the housing market came to a near standstill. We knew, however, that shelter needs don’t go away in times of crisis, they intensify," Colette Gerber, REBGV Chair said. “The real estate community worked closely with our regulatory bodies and public health officials in the spring to ensure appropriate precautions and protocols were implemented so BC REALTORS® could help residents safely meet their housing needs."

Home listings on the Multiple Listing Service® (MLS®) in Metro Vancouver reached 54,305 in 2020. This is a 4.6 per cent increase compared to the 51,918 homes listed in 2019 and a 1.3 per cent increase compared to the 53,614 homes listed in 2018.

Last year’s listings total was 2.7 per cent below the region’s 10-year average.

“After adapting to the COVID-19 environment, local home buyer demand and seller supply returned at a steady pace throughout the summer, fall and winter seasons," Gerber said. "Shifting housing needs and low interest rates were key drivers of this activity in 2020. Looking ahead, the supply of homes for sale will be a critical factor in determining home price trends in 2021.”

The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,047,400. This is a 5.4 per cent increase compared to December 2019.

The benchmark price for apartments increased 2.6 per cent in the region last year. Townhomes increased 4.9 per cent and detached homes increased 10.2 per cent.

December Summary

REBGV reports that residential home sales in the region totalled 3,093 in December 2020, a 53.4 per cent increase from the 2,016 sales recorded in December 2019, and a 0.9 per cent increase from the 3,064 homes sold in November 2020.

Last month’s sales were 57.7 per cent above the 10-year December sales average and is the highest total for the month on record.

“Robust December sales outpaced long-term averages in what’s traditionally the quietest month of the year in real estate. This was part of an unusual seasonal pattern the market followed last year, which can be attributed in large part to the pandemic,” Gerber says.

There were 2,409 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2020. This represents a 51.7 per cent increase compared to the 1,588 homes listed in December 2019 and a 40.8 per cent decrease compared to November 2020 when 4,068 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,538, a 0.8 per cent decrease compared to December 2019 (8,603) and a 23.2 per cent decrease compared to November 2020 (11,118).

For all property types, the sales-to-active listings ratio for December 2020 is 36.2 per cent. By property type, the ratio is 35.2 per cent for detached homes, 50.4 per cent for townhomes, and 33.1 per cent for apartments.

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

Sales of detached homes in December 2020 reached 1,026, a 71.3 per cent increase from the 599 detached sales recorded in December 2019. The benchmark price for detached homes is $1,554,600. This represents a 10.2 per cent increase from December 2019 and a one per cent increase compared to November 2020.

Sales of apartment homes reached 1,474 in December 2020, a 40 per cent increase compared to the 1,053 sales in December 2019. The benchmark price of an apartment property is $676,500. This represents a 2.6 per cent increase from December 2019 and is unchanged from November 2020.

Attached home sales in December 2020 totalled 593, a 62.9 per cent increase compared to the 364 sales in December 2019. The benchmark price of an attached home is $813,900. This represents a 4.9 per cent increase from December 2019 and a 0.1 per cent decrease compared to November 2020.

REBGV Stats Graph December 2020

GET THIS FULL REPORT

Read full post

The November 2020 Market stats are out and available for download. You get the following graphs and charts for both Vancouver East and Vancouver West.

  • Activity Snapshot by PropertyType
  • Detached Properties Report and Graph
  • Condo Report and Graph
  • Townhomes Report and Graph
  • Benchmark Price Graph
  • Average Price Per Square Foot

If you are interested in a report like this is for other areas, please contact me to request it and I'll send it to you.

DOWNLOAD VANCOUVER EAST & WEST

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.